Morning Oregonian. (Portland, Or.) 1861-1937, May 12, 1915, Image 19

Morning Oregonian., May 12, 1915, Page 19, Image 19

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Newspaper Page Text10 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 INCREASE TRADE. The First National Bank Greatest Capitalist of. South America Is in Washington. Stock Market Gives Proof of Underlying Strength. Fifth and Morrison Streets Capital and urplus - - $3,500,000 Security and service are the qualities we offer for consideration in choosing your bank. 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. ray 'fix 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 ington today. 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 Senate. 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 States. 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.. THE WEATHER. Wind. STATIONS. State of Weather. si nkcr lJoifce . . Boston ........ t'n Igary ...... ChlcaKO Colfax Uenver . ...... Trs Moines . . . ruluth Kureka ;alveston .... Helena ....... .Tacksonvilie ,. Kansas Otty .. . T.ob Angeles Murshf leld .Med lord 1 inneapolis . . . .Montreal New Orleans . . New Vorli North Head . . . North Yakima Pendleton . . . . Phoenix . Focatello i'ortland Flogehurg . . . . Sacramento ... St. I.ouis Salt l,ako San Francisco Seattle Spokane . Tacoma Tatoosh Island Walla Walla . . XVashinjrlon . . Winnipeg . . . . i Ds:o. two. TOO 06 tl 7iO. 64 0 8-'0. 84 0. IfO. 2;0 80 o. tiliti. soin 820. 74 0. fco:o. S 0. 8H 0. B0 O. N0M, 7 4 0. .4 0. 2 0. L' . 1'ti O Hit 4. 4 o. e o - o 74;0 7 -' o 0 PL' o rso ti'.' 0 r.io 041 6SW OS 4 13 ,U0 4IW ,00 4SE OO'lUjS .or,i...... liltl S UO'lll SW OJ. JJI w o; f,iv 00 4 NW 00 lO SW .S 4'SK oo! e sw ooiicsw flSl ll'SW OL-'lL' N W 00 4'SW OOll4'SW :tii 8'NW 002SSW lis ;g;s 00! s :io lo s w .oo u xiv hi isw 1.' ii; sw Cloudy Rain IClear pljt. cloudy Cloudy 'loudy Pt. cloudy Pt. cloudy Pt. cloudy Pt. cloudy Pt. cloudy Cloudv lOIoudy Clear Clear Pt. cloudy I't. cloudv ;Cloudy 1 ear "lear Cloudy Pt. cloudy Pt. cloudy Pt. cloudy Clear Cloudy Cloudy Pt. cloudy Kaln IClear 12; 8 W K4i 4'SK ui! 8E (in R2! 4 NW r-i. ciouay Kain Cloudy 4 NE 4 W 41NK 5 W 8S15 Cloudy Kuin Main Hain Pt. olourlv 0 4ISK 8:i(i.04:i8:.w IClear WEATHER CONDITIONS. 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. FORECASTS. 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 i tnarea. -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 Plane. .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 change were: 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 prices. 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. 00O bushels. 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 exports. Terminal receipts. In cars, were reported by the Merchants' Exchange as follows: ' Wheat. Barley. Flour. Oats. May. Portland. Tues. 3 1 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 Timely Publication. 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 1" V- 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 condition. , Poultry Market Is Lower. Poultry sold at lower prices yesterday, as unchanged. 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 tJiearlngs. Bank clearings of the Northwestern cities yesterday were as follows: Clearings. Balances. 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. Prompt delivery: 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 Oats No. 1 feed, white 28.00 30.50 Barley No. 1 feed 2j.50 21.00 Bran 24.75 26.50 Shorts 2O.00 27. 00 Futures - 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 per ton. 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 pound. 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; currants, 8e12c. Hops, Wool, Hides, Etc. HOPS 1914 crop, nominal; contracts, nominal. HIDES Salted hides. 34e; salted kip. 14e; salted calf, 18c: green hides, 13c; green kip, 14e: green calf, ISc; dry hides, 24c; dry cslf. 29c. WOOL ICastern Oregon, medium. 25(S2c: Eastern Oregon, fine. 1820c: Valley, 23 U.28C MOHAIR New clip, S2K033O per pound. CASCARA BARK Old and new. 44fto per pound. 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. Provisions. HAMS All sizes, 1718c; skinned. 17 & 18c; picnic, 12c; cottage roll, 13Vic; broiled, 192Sc 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; tongues, $2530. Oils. 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, 82c. TURPENTINE In tanks, 60o; In cases, 67c; 10-case lots, lc less. HOGS HOLDING STEADY ONLY OXE LOAD IS RECEIVED AT LOCAL. YARDS. Nine Loads of Sheep Brought la aad - Sales' Are at Carre sit Prices. 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. Shippers were: 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 Hogs Light T.BVfl!S.15 Heavy , .. 6.50 3 7.35 Sheep 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; calves, $7.2510.26. Sheep Receipts, 1800: higher. Tearltngs, $8.8089.4O; wethers, $88.85; lambs. ta 10.75. 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, $li.509. 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, Vegetables. Etc. 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, 31&5V2C. Onions California, 6575c; Oregon. 85c $1. 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 tons. Coffea Futures. 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. 4. 1014c. 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 London -unchanged. Naval Stores. SAVANNAH. Ga., May 1 1. Turpentine, quiet. 42c; sales, 228 barrels; receipts, 703 barrels; shipments, 550 barrels; stock, 21, 607 barrels. 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. Metal Markets. 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, 4.17j4.22c. Spelter iKast St. Louiej spot offered at l.25c 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 address. 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 here- . A purt from Its general Improvement, tne chief feature of the market was its com parative apathy. 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 Maxwell Motors. Total sales of stocks amounted to oio.oou shares. 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. Closing 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. BONDS. 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, $4.7925. Bar silver, 00c. Mexican dollars. 38c. Government bonds, weak;, railroad bonds, strong. 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 uncertain. 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 Lower: Crexmery. 2027c. 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 Refined steady. Dried-Fruit at New York. NEW YORK. May 11. Evaporated ap ple quiet; prunes. dull and nominal; peaches, dull. Cotton Market. 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. Atchison Globe. 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 tu CROP TALK 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 Foreign Sltnatlon. 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 decidedly active. Provisions followed tho course taken by grain. Leading futures ranged a follows: WHEAT. Open. High. Low. Close. May $1.62H $1.6 $1.51 V. $167 14 July 1.2 1.32H 1-2 l CORN. May 74 H .T .T4 .T July 7Ts .11 .1 . OATS. May 61 H .5S14 .SS't July 62 .5i .62 .63V MESS PORK. July 15.02 18. SO ltd t.2S Sept 1S.60 18.65 1 8. M . 18.62 LARD. July S.7S .ST B.7R l.WS Sept 10.00 10.17 10.00 10.17 SHORT RIBS. 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 bushels. 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 ern. $l.S3fjl.SS. 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 $1.20. 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. bay 1. North Yakima Ttat Hearing Rushed NORTH TAKIMA. Wash., May 11. (Special.) In an effort to expedite the Pacific Power Llsrht Company rate The Canadian Bank of Commerce HEAD OFFICE Toronto, Canada. Established 1867. A general banking business transacted. Interest paid on time deposits. Commercial Letters ef Credit Issued. Exchange on London, Knslaad, bought nnd Sold. PORTLAND BRANCH, Corner Second and Stark Sts. F. C. M ALP AS, Manarer. TRAVELERS' GUIDE. STEAMSHIP 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 !. ALARMS 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 made yesterday. TBAvn.inx' orrrK. San Francisco Los Angeles (Without Chaase En Route) The BIsT. Clean. omrnrtHkle. Klecastly itssls(eil, &ea-4jelusr bteamablp ROSE CITY 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 U aeaceiied. '1 he San Prairlses A Portland . S. ('- Third sal Waahlaatoa . (with 0.-W. R.N. C- Tel. Mar. shall 4600, A 6121. AUSTRALIA 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 via 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 ZWLAND, Ltd. Hind, Rolpli Co., General Agents, Office (79 Market St., Han Frnnoiseo. CaL, er DonHT B. Smith. 118 8d St.. Portland. FRENCH LINE Compagnie General Traasatlaatlqn. POSTAL SERVICE. 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 SAN FRANCISCO 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 San Francisco LOS ANGELKH. SN IIIEUO AND ELRLKA. 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 NEW TORK via tbe Panama Canal. Sails from ban Krancmco ou or about MAY 10TH. Fare. . . ll.W.Ov. C. D. liL-iLV. Agent. 210 Stark Street. Portland, Or. STEAMER SERVICE. 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 Steamer Breakwater 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 DALLES-COLUMBIA LINE. 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. 7T