Sheatsellingplaw
is not indorsed
THE MOENIXG OREGOXIAX, WEDNESDAY, FEBRUARY 23, 1920
23.
Washington Scheme Objected
to by Professor Hyslop.
FARMERS NOT PROTECTED
Many Growers Have No Confidence
In Promotors of Organization.
Ironclad Contract Required.
Th whnt marketinr plan proposed to
Oregon farmers by the Washington Wneat
Growers association does 'not naT the
indorsement of Professor George R. Hy
slop of the Oregon Agricultural college.
In a statement giving reasons why he can
not recommend it. Professor Hyslop says:
The proposed wheat marketing plan tor
the handling of wheat of Oregon, wasmng
ton and Idaho through a non-profit co
operative marketing association has come
tn for a considerable amount of lnsptrea
vablleltr. recommending It. Some indl.
Tlduals appear to think that the plan will
be a serious biow to the exporters and
millers of what. Thus far, 1 have not
seen any opposition to the plan on the
part of the wheat buyers or millers ana
ther aro some who feel that the success
ful adoption, by farmers, of -mch a plan
would, with proper management, reduce
the handling cost of wheat to the buyer.
I believe it Is entirely possible for farm-
era to market their product through their
own organization; the successful plan, I
believe, must originate as the result of a
demand coming from tho farmers ratner
than as a promotion project passed on to
tbem.
The general plan carries a number of
good things, but I cannot recommend it
to Oregon farmers for the following rea- 907,000 bushels of wheat and 10,026.000
sons: . I barrels of flour, making a total equal to
1. I have seen no evidence or any re- 132.044.000 bushels of wheat compared
quests on the part of Oregon farmers for I wita 317,029.000 bushels of wheat and
any plan of the sort. A committee, said 1 13.571,000 barrels of flour last year to
to represent the Washington organization February 13, 1919, the 13 days of Febru
rammittee. came to Pendleton for the pur- ary being prorated from the monthly
tween July 8 and July 20, and then only
in the event that less than 25 per cent
of the crop Is signed up and It is so stated
by the organization committee, or b) he
suspends the culture of wheat during the
period of the agreement.
10. It seems to me that the organiza
tion committee has extreme power and the
grower is not properly protected.
1L It has been indicated in connection
with the promotion of the plan that some
of th Tri-Staxe Terminal company direc
tors were in harmony with It- These same
men have completely repudiated the statement.
Summing' np the situation briefly, the
fact that the new organization is a long
time (six years) experiment, that it ia not
coming to Oregon to the call of the farm
ers themselves, and that It la not In har
mony with the present existing farmers
marketing organisation, that not enough
of the crop is included, that the crop is
tied np absolutely without proper protec
tion to the farmer, and that a non-elected
organization committee has rather un
limited power and the grower has proc-
tically no protection. I feel that any farm
er signing up his crop in it for a six-year
period la making a mistake.
ELEVATOB STOCKS ABB DECREASED
Total Wheat Holdings Smaller Than In j
Previous Week Reported.
The 41st weekly bulletin covering wheat
and wheat flour movement throughout the
United States for the week ending Febru
! ary 13. in comparison with figures for the
! same period a year ago. follows:
Bushels 1920. 1919.
Wheat receipt
from farms 4.1S3.0O 0,171.000
Wheat receipts
from farms previ
ous week 3.887,000 5,842,000
Wheat receipts
from farms, June
27 to Feb. 13 690,337,000 883,761,000
Barrels
Flour produced
during week 2.515,000 1.904,000
Flour produced
previous week 2,312,000 1.942,000
Flour produced
June 27 to Feb. 13. 93,109,000 78,090,000
Buhe)s
Total stocks wheat.
elevat's and mllls.195,718,000 233,403.000
Total stocks wheat.
elevat's and mills.
previous week 202.330.000 242.729.000
Change for wank, de
crease e.Biz,uuu v,ao,wv
Exports of wheat and flour. July 1,
1919, to February 13. 1920. amount to 86,
pose of securing the endorsement of the
man in oraer inai 11 nii&ui luc.
mated imoni Oregon growers. At this
meeting of large wheat growers the plan
failed to receive endorsement. it
artlvlv oDDoied by wheat growers who
have been marketing through the Tri-State
Terminal company, but in the absence of
specific contracts and other material re
lating to the pUn. judgment was sus
pended. A committee was appointed to
consider the matter on February 7. This
wt.s postponed until February 14. and only
a few of th members of the committee
were present. There may be another meet
Ing held for further consideration.
2. The plan has not received the en
dorsement nor does it have the support
of tho Tri-State Terminal company, s
farmers wheat-marketing organization.
The fact that the new company does not
carry this endorsement and the appear
ance, at one meeting at least, that the
purpose of the new marketing system is to
undermine the Tri-State Terminal company
gives rise to a situation very unsatisfac
tory from the farmers' marketing point of
view; vis. two farmers' marketing organ
lzations In the field, fighting each other
will tend to weaken the entire farmers'
marketing programme. For this reason
It seems best that the Oregon farmers stay
oat of the new organization unless some
means of harmonizing the two organiza
tions can be arranged.
S. Host of tho so-called non-profit co
operative marketing organizations are es
tablished to handle a perishable product,
-and Include a controlling factor In the crop.
Wheat may be stored and Is marketed
against world competition. Further, sev
eral of the so-called non-profit co-operative
marketing organizations have dealt
principally during a period of advancing
prices. The crucial test for them is when
they try to move crops on a declining
market.
4. There are a good many leading wheat
farmers wbo do not have confidence in
the men who seem most active in the
promotion of the new organization. This
lack of confidence is rather widespread
and Is likely to bo more acute with men
wbo carefully consider the proposed mar
keting agreement. The remaining rea
sons why I would not sign up a wheat
crop with the organization have to do pri
marily with features of the contrsct itself
and the methods that have been made use
of In attempting to put It over.
5. Remembering 1918 as a poor crop
year in the northwest, and al
competition from western Montana, I do
not be 1 leva that 23 pr cent of the crop
is enough.
8. I think there Is too much risk in
signing for a six-year period In
tried organization. A shorter time, if
successful, should establish the confidence
of the members, and enable the organiza
tlon to continue.
7. The agreement substantially states
that In the event that 20 per cent of the
trop. as of the 1918 basis, is not signed
up by July 1. the organization committee
shall notify each subscriber before July 8.
The subscriber has the opportunity to
withdraw, in writing, if he does so before
July 20. If after July 0 there still
remains not withdrawn 10 per cent of the
total production, the organization com
mittee may proceed. Three things should
be remembered In this connection: (a)
July 8 to 20 is a very busy time and the
chances are that a good many men on
this account may fall to withdraw.
are really In the organization by default,
(b) These men failing to withdraw and
who have signed on the assumption that
25 per cent was the real basis for or
ganisation, have their entire wheat crop
tied up for a six-year period with a mar
ketlng organisation not possessing very
much strength, tc) "For all matters of
. acreage, or percentages or signatures, and
all statements ot fact in connection here
with, written statement of the organiza
tion committee, sisned by its chairman,
shall be absolutely conclusive with 01
without notice to the subscriber. In
other words, no subscriber may question
the authenticity of figures or percentages
given out by the organization committee.
The grower has no "come back.
8. One section of the agreement indl
cates that directors are to be elected by
the members from among the members a:
tbe annual meeting and that these mem
bers shall be actually growing wheat. An
other section further on authorizes "tbe
organization committee aa the represen
tame of all subscribers to take such steps
as It may deem necessary and proper to
secure as subscribers hereto, growers rep
resenting at least 25 per cent of the said
production : to select and name 15 or
ganizing directors conforming, as closely
as the discretion of the committee nfky
approve, to the provisions of paragraph 3
(bat not restricted thereto), and including
one person to bo named by the dan of
the col lege of agriculture; and to take
all steps necessary or advisable in the
discretion of the committee to organise
the Washington Wheat Growers associa
tion. In other words, an organization
committee selected previous to signing by
subscribers la given authorization to name
the organizing directors and these direc
tors are given an unusual amount of au
thority. The Joker Is tn tbe clause "but
not restricted thereto. In addition, I
have seen a copy of a letter from an Indi
vidual action in the promotion of this or
ganisation that indicates that he expects
that the directors will be substantially the
same as the organization committee.
. The agreement is strictly troa-eJad
Insofar as the grower Is concerned. Once
the grower rets m it. there is no way ont
unless ia) he withdraw tn writing he-
lota!, making a total for last year of
178.098,000 bu!nels of wheat.
CORX IS HIGHER OX LOCAL BOARD
Sacked Oats Bids Are Also Advanced.
Clips Unchanged.
The local corn market was firm with
the east. Bids at the Merchants Ex
change were advanced SI 1.25. Sacked
oats were up 50 cents, while clipped oats
were unchanged.
Weather conditions In tae middle west,
as wired from Chicago: "Northern Illi
nois, western Missouri cloudy, snowing and
cold. Eastern Kansas, eastern Iowa clear.
fine. Elsewhere cloudy, cold. Light snow
Kansas laat night.
Receipts, car lots, as reported oy tne
Merchants' exchange were:
Wheat Barley Flour Oats Hay
Portland, Mom-
Tuesday . .- 41
Tear ago 61
Sea'n to date. 6229
Year ago 6117
Tacoma. Sat.. 48
Year ago 16
Sea'n to date..r2fi5
Year ago 466i
Seattle. S'at.-
Monday . .. 20
Year aico 10
Sea'n to date. 4.166
Year airo. . . . .4 1 i4
Leading futures rangeaas louows:
Ron mania Stops Grain Export.
The Roumanian government has issued
aa order which prevents the free move
ment of grains, and holds all stocks at
tbe disposal of tbe government. As the
autumn sowings only amount to about 25
per cent of the area sown In normal
times, the ministers demand the requisi
tion of all stocks in order to meet the
needs of the country for food and seed.
The decree in question does not mention
corn, and it Is generally believed the har
vest of this cereal more than fulfilled ex
pectations, so that there should be a good
surplus available for export.
General rains were reported , from Ar
gentina.
Smaller Decrease la Tislble.
The American visible wheat supply com
pares aa follows:
31 .... 4
6 2 6 2fl
169 29"3 .... 13:i
890 1808 603 2611
12
1 2
71 2008 147 657
29 .... 135 1010
6 .... 3
S 11 2 14
229 551 B62 1061
62 1 004 507 2203
Myrtle Point: Triplets; Sic; Young Amer
icas, 32UC.
POULTRY Hens. SO 35c; springs, 28
30c ; broilers, 35 38c ; ducks, 35 40c ;
geese, 20 25c; turkeys, live, 40c; dressed,
choice, 48C.
VEAL Fancy, 26Hc per pound.
PORK Fancy, 21e per pound.
Fruits and Vegetables.
FRUITS Oranges. 14.257.25; lemons,
16.75 1. 50 per box: grapefruit, 83.50
per box; Dan anas, iuc per pound; ap
ples, $1.25 3 per box; cranberries. 84.50
per box. $12 per barrel.
VEGETABLES Cabbage, fiHc per
pouna; lettuce, per crate; beets.
S3.oo per sacic; cucumoers, ss per doc
carrots, $1.5 per sack; celery. 811 per
crate; norseraaisn, 10c per pouna; garlic.
oc per pouna; turnips, per sack:; cauli
flower, 81. 1 5 per crate; tomatoes,
14.50 per box ; spuds, 17c per pound ;
parsnips, $3.50 p uesracktaoinshrdluaua
parsnips, 83.50 per sack; artichokes, $1.75
ty z per aozen; peppers, aoi&wc per pound;
spinach, 12.75 4.20 er box; rhubarb, $39
per dox; peas, uc per pouna.
POTATOES Oregon, 14 4.50 per sack:
Takimas, $4.755; sweets, 7Sc per pound.
okiu.ns Oregon, tcc per pound.
Staple Groceries.
Local Jobbing quotations: 1
SUGAR Sack basis: Cane, granulated.
15.90c per pound; beet, 11.27c; extra Cy
io.aw; iioiaen j, jo.uc; leuow u. ia.uc;
cube, in barrels, 16. 75c.
NUTS Walnuts, 32ift39c; Brazil nuts.
30c; filberts, 35c; almonds, 35 58c; pea
nuts, lawuiftc: chestnuts. 25c: necans.
32c; hickory nuts, 15 16c; cocoanuta, $2
per dozen.
SALT Half ground. 100s, $17.75 per ton;
50s, 119.50 per ton; dairy. $26.502 per
ton; best refined, 50s, $36.50.
RICE Blue Rose, 16c per pound.
BEANS White, 8c; pink. 8c; lima,
17c per pound; bayous, 10c; Mexican reds,
8c per pound.
COFFEE Roasted, In drums, 393510.
Provisions.
Local jobbing quotations:
HAMS All sizes, 34 4? 37c; skinned, 279
35c; picnic, 2762Sc; cottage roll, 80c.
LARD Tierce basis, 2tic; compound, 26c
per pound.
DRY SALT Short,- clear backs, 2S32c;
plates, 23c.
BACON Fancy, 4150c; standard, 33
3lc '
Pelts and Furs.
hides, 45 and down.
Hides,
HIDES Salt hides. 45 and down, lb,
30c; green hides, 45 and down. lb.. 26c
salt hides, 45 and up. lb.. 24c; green hides.
45 and up, lb., 20c; salt and green calf to
15 lbs., lb., 70c; salt and green kip, 15 to
30 lbs.. 40c; flint dry hides, lb., 35c
flint dry calf to 7 lbs., lb., 70c; salt horse
hides, large, each, $S: salt horse hides.
medium, each, $7; salt horse hides.
smau, each, $6; colt and glue horse hides
at value.
PELTS Dry fine long wool pelts, lb.,
4uc; ary coarse long wool pelts, lb., 3oc
dry fine short wool pelts, lb., 35c; dry
coarst short wool pelts. Ib., 25c; dry sheep
shearings at value; salt fine long wool
pelts, Februarys, each. $3.504; salt coarse
long wool pelts, Februarys, each, J33.ou
salt sheep, shearlings at value; dry goats.
long hair, per lb., 2bc; dry goats, Bhort
hair, per lb.. 20c; salt goats, large. 16
3.5U: salt goats, medium, each,
salt goats, small, each $11.50; shearlings
ana Kias at value,
FURS Good grade, extra large, large
and medium sizes: Skunks, black, $3.75
8.50; short, $2.iu&7; narrow, $2o; broad,
75c$2.25; fox, red, $1045; gray, -&
raccoon. S2.50ops; mink. oark. 14 & iu
ordinary, 12.50 8: winter muskrat, $1
3.50; wolf or coyote, soft, silky, IK (at 20
average, 5f$13; white weasel or ermine,
50c &$2; lynx, heavy furred, $1565; ora-
dinary, $1550; lynx cat, heavy, $5jlJ
ordinary, $39; otter, dark, $1125; or
dinary, $8 a 21 : marten, pale, brown
dark, $530; fisher, pale, brown or dark.
$123S0; bear, black. $1020; brown, zittf
14; wildcat, 25c to 12: civet cat, 10c 4? $1;
house cat, 10 60c; ring tails, ?5c$2
jackrabbit, 10020c; moleskins, 530c
Oils.
LINSEED OIL Raw. parrels, $2.06
raw, cases, $2.21; boiled, barrels, 2.us;
boiled, drums, $2.11; boiled, cases. $2.23.
TURPENTINE Tanks, $2.13: cases,
$2.28.
uoal oil. iron barrels, isftuiec; tana
wagons. 13 He; cases. 24 & 31c.
GASOLINE Iron barrels. 25c; tank
wagons, -oc; cases, 35 He.
STOCK MARKET REACTS.
HEAVY SEIXIXG CARRIES tIST
DOWNWARD.
Losses of Three to Fifteen Points
Are Registered Favorable
Developments Ignored.
NEW YORK, Feb. 24. The low ratio
of reserves disclosed by the local Federal
Reserve bank after the close of last
week's business and setback in foreign
exchange caused new reversals of from 3
to 15 points in today's feverishly active
stock market.
Favorable developments, such as un
usually free offerings of call money at 6
per cnt and the vtry good January for
eign trade statement, showing a gain of
over tne previous month, railed
Mexican dollars. 9Sc.
Time loans strong; 60 days 90 days and
six months. 8 per cent, , .
Call money, steady. High. 8 per cent:
low, 6 per cent; ruling rate, 6 per cent;
closing Dia,'os per cenc, oiierea at per
cent; last loan, 6 per cent; bank accept
ances, 6)4 per cent.
LONDON, Feb. 24. Bar silver, 82d per
ounce, juoney, per cent.
Discount rates, short bills, 6 per cent;
tares montns puis. t per cent.
Swift Co. Stocks.
Closing prices of Swift A Co. stocks at
Chicago were reported by Overbeds A
Cooke company as follows:
Swift & Co. 119
Libby, McNeill 4 Libby i4
Swift International 42
National Leather 14
SAN FRANCISCO PRODUCE M ARRET
Prices Current en Vegetables, Fresh Fruits,
Etc., at Bay City.
SAN FRANCISCO, Feb, 24. Butter, ex
tra grade. 66c; prima firsts, 63c.
Eggs Fresh extras. 48Ue: firsts. 47c
i.w Luv aimosi incessant liquidation - extra putiets. 4lc; undersized, 39c.
and short selline.
Striking exceptions to the decline were
offered for a time by rails, notably non-dividend-paying
issues of tho zranrer and
coal divisions, but these finally succumbed
to tbe widespread reaction at the weak
close. Sales amounted to 1.200.000 shares.
Adoption by the Ipiuia Af thn milrnad
biil probably impelled the further buying
of rails, the greater part of which was
credited to western and southwestern
sources. Interior points sounded the only
encouraging note, western tonnage increas
ing. . t : ,
Liberty bonds were heaw with th su
at the low record of $&5.80. In general,
domestic bonds eased, with sharp reac
tions in Several hieh.vi-gH. r,H.wr .;-'. In '
eluding United States Steel 5s. The 'for-1
eign group was steady. Saloa (par value)
aggregated $13,575,000. Old "United States
wwuua were uncnanged on calL .
CLOSING STOCK QUOTATIONS.
Last
Sales. High. Low.
4.200 v 804
Hops, Wool, Etc
HOPS 1919 crop, 80c per pound, 8-
con tracts, 45c average.
MOHAIR Long staple, 40045c; short
staple, 25 & 30c.
TALLOW No. L 10c: No. 2, Sc per
pound.
CASCAKA BARK. Per lb., 11C,
WOOL Eastern Oregon, fine, 40f0e;
medium, 45 50c ; coarse, 35 57c; valley,
medium, 50$tf52c; coarse, 35 57c.
Bushels. Derea
Feo. 24, 1020 nrt. 306.000 l.Rlfl.OOO
Fej. 24 ltlf 121. 206.000 4.PS8.OO0
Frb. 2.t. IS1S 0.:i7.0W 1"7U00
Feb. 26 1M7 45. 130.000 1.718.000
Feb. 2S. 1916 63.107,000 1.122.00
Mar. 1, 1915 49.6S6.000 2,173,000
The corn risible Is 4,7al,000 bushels, an
increase of 609.000 bushels; oats visible
10.447.000 bushels, decrease 353.000' bush
els; rye visible. 20,670.000 bushels, increase
666.000 bushels: bnrley, visible 3,417,000
bushels, decrease 186.000 bushela
Oregon Apples at New York.
Apples were steady In the local market
with a fair demand. Shipments since Sat
urday were 15 cars.
Sales of Oregon apples in the New York
market were reported by wire as follows:
Spitzenbergs, extra fancy, $3.25 & 3.50;
fancy, $3 4? 3.25; Romes, extra fancy, $3.25
03.50; fancy, mostly S3; Newtowns. extra
fancy, $2.753.25. few $3.50; fancy, $2.50
3; Wlnesaps, extra fancy, $3.7504; Stay
mans, fancy, $3; Delicious, extra fancy,
large, $4.254.50; small to medium, $3.75
04; fancy, medium to large, $3.2503.50;
choice, all sizes. $2.90 3.
Egg Market Weaker.
The egg market was weaker yesterday.
Business with the east was shut off by a
break of 11 cents at New Tork. Buying
prices for today shows a rather wide range
from 87 to 40 cents.
Butter was firm and unchanged.
Poultry receipts were small and Satur
day's prices were repeated. Dressed meats
were firm.
Bank Clearings.
Bank clearings of the northwestern cities
yesterday were as xouows:
Portland ....
Seattle
Tacoma
Spokane . ....
Clearings.
...$6.S6.S
... 9.042.76S
... 1,011.402
. 3,098,293
Balance
$2,197,631
3.5K0.4O9
194.861
1.340.602
PORTLAND MARKET QUOTATIONS
Grain. Floor. Feed. Etc
Merchants' Exchange, noon session.
-Bld.-
April.
$60.50
58.00
40.50
59 00
59.50
58.75
per
Oats Feb. March.
No. 3 white feed $60.00 $60.W
Corn
No 3 yelpw 57.50 58.00
Millrun 40.00 40.00
Kasiern oats and corn tn bulk:
Gats
36-pound clipped.... 58.30 59.00
38-pound clipped .... 58.50 59.00
Corn
No. 3 yellow 58.00 53.50
WHEAT Government basis, $2.;
bushel.
FLOUR Family patents. $13.15; bakers
hard wheat. $13.75: whole wheat, $12.05;
graham, $11.80: valley. $11.40; straights.
$11 per barrel.
MILLFEKD Prlceo r. O. D. mill, city
cartage $2 extra. Mill run, car lots or
mixed cars. $42-50 per ton; rolled barley.
$71; rolled oats, $63.50; ground barley, $71;
scratch feed. $80.
CORN Whole, 164; cracked, $66 per ton.
HAY Buying prices, f. e. b. Portland:
Alfalfa, $30.50; cheat. $17018; clover.
5; oats and retch, $26; valley timothy.
$17028.
BULGE IS SHARP
CHICAGO MARKET JfEARLT S
CENTS CP AT -CLOSE.
Uw. dose.
$1.30 $1.34
1.26 1.30V4
1.24 H 1.27 M
.77 S .80 U
.725,
S4.50
34.30
20.77
21.32
125
18.75
11.40 1.41; No.
Dairj and Country Produce.
BUTTER CubM, cxtru, 620620 pw
pound; prints, parchment wrappers, box
lota, SBc; cartons, 67e; half boxes, tc
more; less thaa balf boxes, lc more; bnt-
terfat. No. 1. 63664c per pound at sta
tions; Portland delivery, ordinary srades.
i6c: A crade, 68c .
EGOS Jobbing- prices to retailers: Ore
gon ranch, case count. 40c; candled. 43 0
44c: selects. 4$49c
CHKESE Tillsmook. t. o. b. Tillamook:
Trtpleas. 32c; Young Americas. 33c; long
horns. 3c Coos and Curry, . a. b.
Crest of Winter Crop Movement
Does Xot Come Up to Trad
ers' Expectations.
CHICAGO. Feb. 24. Belief that the
crest at the winter crop movement was
represented by today's receipts did a good
deal to bring about a sharp upturn today
in the value of corn. The market, not
withstanding weakness at the outset,
closed strong. 2Hc to 4?,c net higher, with
May $1.34 to S1.34 and July I1.304 to
J1.30V Oats gained lHHic to 2c.
In provisions the outcome ranged from 7c
decline to 25c advance.
Bullish sentiment was Increased by a
strong demand on the part of shippers.
some of whom, it was said, wanted cars
even more than the corn.
Oats advanced with corn.
In provision, renewed strength of grains
finally outweighed the weakness of ster
ling and bogs.
CORN.
Open. High.
Msy 11.30 ll.MH
July 1.2714 1-30
Sept..... 1.20 I.274
OATS.
May 77 .80
Juiy. ... .70 .42 n
MESS PORK.
Mar 34.00 34.r0 33.9ft
July.... 33.90 34.30 33.60
LARD.
Mar 20.37 20.80 20.M
July 20.90 21.32 21.90
SHORT RIBS.
May.... 1S.10 18.25 18.00
July 18.50 18.7S 18.47
Cash orlces were:
Corn- No. 3 mixed.
yellow. (1.4201.45.
Oats No. 2 whits, S3KeSSUc: Ko. 1
White, 844rSic.
Kye No. si.roivi.tio.
Barley 1.21.4B.
Timothy seed S12&14.
C 1 o verseed $4T 059.
Pork Nominal,
l.ard I1S.77.
Ribs 117.25 S18.50.
Minneapolis Graisj Market,
MINNEAPOLIS, Feb. 24. Barley. 11.15
01.36.
Flax, 5.I3tf 5.1H.
Grain at 8aa Francisco.
8S FRANCISCO. Feb. 24. Orattt
Wheat, 12.20; oats, red feed, 13.2003.25:
barley, feed. 13.2503.46: corn, California
yellow, 13.2003.25: white Egyptian, 13.75
03.80; red mllo, 13.2003.25.
Hay Wheat or wheat and oats, 1300
S3 ton; tarns oats, 132 0 35: wild oats, 128
032; barley. 128032; alfalfa, 130035;
stock hay, 124 027; barley straw, SO08Oc
per bale.
Seattle Feed and Hay
SEATTLE;, Feb. 24. City deliver: Feed,
mill, $49 per ton; scratch feed, $94; feed
a heat, $87: all grain chop, $75; oats, $72;
sprouting oata. $74; rolled oats, $72; whole
corn, $72: cracked corn, $74; rolled barley,
$78: clipped barley, $82.
Hay Eastern Washington timothy
mixed, $38 039 per ton; double compressed,
$42: alfalfa. $35; straw, $17018; Pugst
Sound, 133.
Dnhrth Linseed Market.
DULUTH, Feb. 24. Linseed. $5.1205.15.
Metal Market
NEW TORK, Feb. 24. Copper, quiet.
Electrolytic, spot and first quarter 19c;
second quarter, 19 19 lie.
Iron, steady; No. 1 Northern, $47048:
No. 2 Northern. $45046; No. 2 Southern.
$43944.
Antimony. 11.87HC.
Lead. firm. Spot and March, 9c bid,
9.25c asked.
Zinc, steady. East St. Louis, delivery,
8.90c bid. .05c asked.
NEW TORK, Feb. 24. The. American
Smelting fc Refining company advanced
the Drice of lead from 8.75c to 9c a Dound
today. - I
Am Beet Sug,
Am Can
Am Car & Fdv l tun
Am H & L pfd 1.400
Am Loco 5 9uo
Am Sm & Rfg boo
Am Sugar Rfir 400
Am Sum Tob. 1,900
Am 'lei & Tel. 700
Am Z L & Sm l.ioo
Anaconda- Cop 3.U00
Atchison 2.9O0
A G & W I S S 500
Baldwin Loco. 38.300
Bait & Ohio .. 18.200
Beth Steel B. 10,000
B 4 S Copper. 1,100
Calif Petrol . . 000
Canadian Pac. 7,000
Central Leata 6.800
Ches & Ohio.. 4,800
Chi M & St P. 28.200
Chi & N W ... 3 200
Chi R I 4 Pac 76.400
Chino Copper. 2.5O0
Col Fu Iron
Corn Products 6,700
Crucible Steel. 19.900
Cuba Cane Sug 2.800
U S Fd Proas. 2,000
Erie 10.600
lien Electric.
Gen Motors .
Gt No pfd 4,000
Gt No Ore ctfs 3.000'
Illinois Central 500
lnspir Copper. 1,500
Int 31 34 ptd.. 2,200
Inter Nickel.. 2.1IH)
Inter Paper . . 3,200
K C Southern. 4,100
Kennecutt Cop 2,100
Louis & Nash. 300
Mexican Petrol 92.200
Miami Copper. 400
Midvale Steel. 3.100
Missouri Fat.. 31.600
Montana Pow. 200
Nevada Cop ... 200
N Y Central.. 5.100
N Y N H & H 54.000
Norf & West.. 7o0
Northern Pac. 4,700
Pan-Am Pet.. 23.900
Penn&ylvania.. 5.500
Pitts & W Va. 4,900
Pittburg Coal. 300
Ray Con Cop. 2,700
Reading 24,300
Rep Ir 4 Steel 36.400
Shat Artx Cop 200
Sin Oil & RfK. 29.300
Southern Pac. 19,900
Southern Ry.. 30.600
Studebaker Co 26,500
Texas Co 6,100
Tobacco Prods l.COO
Union Pacific. 6,100
Untd Retl Strs 7.100
U S Ind Alco. 6.800
U S .Steel 111.400
do pfd 600
Utah Copper.. 1,000
Voetlnr Klect 1.800
Willys-Overlnd 8.200
Ohio tjlts uaa -.-"V
Royal Dutch.. 11.200
132
105
95
63
126
84
8754
18 It
5Si,
85
149
1114
38 5,
87
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108 V
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77 Va
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75 Va
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Sale.
80
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Bid.
BONDS.
V S Lib 3V4s .. 95.80 do cou 88
1st 4s u.ou Angio-r rencn os 9tt
2d 4s 90.24 AT & T cv 6s. 97
1st 4V4s .... 91.30Atchen-Gen 4s.. 78
2d 4V4S 90.72ID & R G con 4s 63
3d 4Vs 2.82iN Y C deb 6s.. 92T4
4th 4VS .... 90.76 No Pac 4s 75
Victory Ss.. 97.70.o Pac 8s 53
rirt 4si- 97.72. Pac T & T 5s.. 851.
C S 2s reg. ..100VaPenn con 4'4s..90Va
do cou lOOValSo Pac cv 5s..
U S 4s reg...106 So Rail 5s
U S cv 4s cou.106 Un Pac 4s ...
Panama 3s reg. "88 U S Steel Ss ..
100 V4
. 84
83
86
Bid.
Boston Mining Quotation.
BOSTON, Feb. 24. Closing quotations:
No Butte 16
Old Dominion . 33
Quincy Sfltt
Superior 5
Sun & Boston. . 44
Ltah con ..
Winona ....
Wolverine . .
Greene Can .
Cheese, old style California flats, fancv.
31c; firsts. 28Vac; young Americas. 36V4C.
Poultry California hens; large, 89g41c;
small, 41043c; strictly young roosters,
43'45c; old. 220 25c: fryers, 50054c:
broilers. 49052c: geese, per lb., 85c;
ducks. 48050c: Belgian hares, 19021c;
jackrabblts. $3 03.50 per dozen; turkeys,
dressed, 51054c.
Vegetables Cream squash. 75c0$l.OO;
Hubbard, $1.50 0 2 per sack: tomatoes,
fancy repacked, 11.7502 per lug: potatoes.
Rivers, $4.7505.25: Salinas, $5.50r5.75:
sweet 5 05c per lb.; Oregon Burbanks,
$5.2505.50; Oregon American Wonders,
$5.4005.50; Idaho Gems, $5 0 5.25; onions,
white, $5 per cental; cucumbers, hothouse,
$304.50 per box: celery, $4 0 7.50; tur
nips. $1.5001.75; carrots, 11.25; cauli
flower, 75c $1 per crate; lettuce, south
ern, 11.5001.75; peas. 608c for small;
9?iuc for large; sprouts, 607c per lb.; as
paragus, natural growth, 20025c lb.: fancy,
30c; spinach, 607c; green onions, $2 per
DOX.
Fruit Oranges, navels, 14.50 0 6; lemons,
$4.50 0 5.75; grape fruit. $.2.60 0 3.50; tan
gerines, $2.75 0 3.75 per half orange box:
bananas, 8011c: pineapples, $3.50 0 5.50
per dozen; pears, cooking. $101.50; Win
ter Nellls, $304; Oregon, $4; apples, New
town Pippins, 3V4 tier, $2.25 0 2.60 ; 4 tier,
$2.15 0 2.25 ; 4V4 tier. $1.60 1.75; Oregon
Spltzenburg, $2.503.25; Oregon Newtown
Pippins, $2.5003; rhubarb bay stock, 140
15c per pound.
Receipts Flour, 26,648 quarters; barley.
7766 centals; oats, 863 centals; beans, 920
sacks; corn, 2400 centals; potatoes 6395
sacks; onions, 400 sacks; hay, 552 tons;
eggs, 126.380 dozen; hides, 1433; oranges,
6500 boxes.
Bxports of Sugar Increase.
WASHINGTON. Feb. 24. Although there
were general complaints of a sugar short
age in this country last year, exports of
the commodity during the time exceeded
those of the year before by more than
one billion pounds, according to depart
ment of commerce records. Exports
reached a total of 1,475,407,678 pounds
compared with 407.296,324 pounds the year
before. One explanation of the increase
is that England sent much cane to the
United States to be refined and reshipped.
exports to tnut country, However, were
only 425,170,564 pounds, whereas France
imported 627,682,116 pounds, or nearly half
the total. Italy took the third lareeat
quantity, 58,931,947 pounds. Relaxation jf
restrictions on shipments by the allied
countries after the war Is believed here
to be large responsible, for the increased
exports.
. FREE FROM ALL FEDERAL INCOME TAXES
$180,489.67
n IT il!
Ltcy oil r oitiaea
6 IMPROVEMENT BONDS
Ci
Dated: February 1, 1920
Due: February 1, 1930
Optional after February 1, 1923 and monthly
thereafter. Estimated to mature August 1, 192(3.
Denomination $1000
(Excepting one fractional bond for $489.67)
An exceptional opportunity to procure bonds of the City of Portland, upon a basis
to net investors 5.20. These bonds are unquestionably as desirable bonds aa can be
obtained anywhere and it is certain that the entire block will be immediately absorbed
by investors eager to obtain these bonds at such an attractive figure. The assessed
valuation of the City of Portland's taxable property is $305,240,605.00, and iU net '
. improvement debt is only $7,493,071.38.
PRICE: 104.36 to Net S.20
MORRIS BROTHERS, Inc.
THE PREMIER MUNICIPAL BOND HOUSE CAPITAL ONE MILLION DOLLARS
MORRIS BUILDING 309-11 STARK STREET BETWEEN FIFTH AND SIXTH
Telephone: Broadway 2151 Established Over a Quarter Century
Eatrn Dairy Produce.
NEW YORK. Feb. 24. Butter, unset
tied; creamery higher than extras, 66
utifec; creamery extras, ti.i fi.Vi c ; first,
aaia uvMc. : pacmnK stocK. current make
Eggs, unsettled: fresh fathered, extra.
rirst, oh fee owe. ; rirsts, 66p5sc.
Cheese. Irregular: state whole milk
flats, held specials, 29 31c: ditto, aver
age run, 2829c; state whole milk twins,
held specials, 2U3uc.
CHICAGO. Feb. 24. Butter, firm: cream
ery, 4i)65C.
ggs. lower. Receipts. 28.128 cases;
firsts, 50c; ordinary firsts, 43 48c; at
mark, cases inciuded. 4, to 49c: poultry,
alive, steady, springs, sic; fowls. 35c.
Naval Stores.
SAVANXAH, Ga., Feb. 24. Turpentine
firm, 1.004; sales, 131 barrels; receipts.
144 barrels; shipments, S71 barrels; stock
7209 barrels.
Rosin firm; sales, 90 barrels; receipts,
SSZ barrels; shipments, i2S barrels, stock
32,572 barrels. Quote: B, 15.75c; D, E, F,
16. sue: G, 16.60e; H, 16.tt5c; 1, lfi.90c;
16.9.1c; M, 17.25c; Nf 17.50c; WO, WW.
17.75c
Allouez 34
Arix Com .... 11
Cal & Ariz ... 63
Cal & Hecla. -3H0
Centennial .... 13
Cop - Range ... 42
B B Cop 13 W
Franklin 3
Isle Royalle ... 31
Lake Copper .. 3
Mohawk v - 63
v.
1
J
20
33
Money, Exchange, Etc.
NEW TORK, Feb. 24. Mercantile paper.
Vi per cent.
Sterling 60-day bills. 3.344 per cent;
commercial 60-day bills on banks, 3.34 H
per cent; commercial 60-day bills, 3.34 per
cent; demand 3.38, cables 3.38 per cent.
Francs, demand 14.17, cables 14.15; Bel
gian francs, demand 13.62, cables 13.60.
Guilders, demand 36 13-16, cables 36 15-16;
lires. demand lB.ay, cables 18.20: marks.
demand 1.06, cables 1.07.
Government bonds, heavy : railroad
bonds. Irregular.
Bar silver, $1.29.
Dried Fruit at New Tork.
NBW TORK, Feb. 24. Evaporated
apples, ami; western, is v 0 c: state.
.Prunes dull and weak: Caliiorniaa. 1065)
uc; uregone, lyy c.
Peaches steady: standard. 17c: choice.
ia 'a ci iancy, xic.
Cotton Market.
NEW TORK, Feb. 24. Knot cotton aulet.
Middling, sv.jrtc.
DAILY CITY STATISTICS
Vancouver Marriage Licenses.
GO OS EL-MA IS NIL. A RudolDh Onnl
23, of Quincy, Or., and Mlaabllen Mannila,
ENSIGN-CHANDLER Herbert M. En
sign, 26, of L.os Angeles, CaL, and Ha&ei
cnanaier, zu, or Portland.
WE B B E R-CLUFF Harry Webber. 30
of Astoria, Or., and Magdalenl Cluff, 24, of
Astoria, ur.
WITCHEY-WHITE C. W. Witchey, 21,
of Centra) fa, Wash., and Mary E. White,
IS. of Central ia. Wash.
STANDFORD-SL AUGH TE R Stanley J.
Standford, 46, of Scotts Mills, Or., and
Henrietta Slaughter, 31 ox Scotta Mills,
Oregon.
CAMPBELL-FERRIS Ernest R. Camo-
bell, 28, of Portland, and Grace K. Ferris,
legal, of Seattle, Wash.
SINK-FIN LEY Henry F. Sink, 26. of
Portland, and. Leona Finley. 19. of Happy
-vaney, jr.
BURTON-PBCK w. N. Burton, legal,
of Portland, and Betty E. Peck, legal, of
Portland.
HANSOV-OPPORy Ben A. Hanson. TS3,
50
INVESTMENT
An Tavitntion t Join In the Tpbnildlns;
of a Large. Profitable Enterprise.
This company owns and operates the strategically located
salmon, clam, beef and vegetable cannery, general store, hotel and
transportation business of the old established Superior Trading Co.
We Intend to at once greatly enlarge the entire plant and
build a coasting vessel large enough to handle the rapidly
growing business. The freight rate on our boat between Hoquiam
and the Queets, we believe, is the highest in America. The price
for fresh fish ,at our cannery is generally about 50 per cent
less than other canneries on the coast have to pay. We have no
competition. After you have read our circular we are sure you
will believe with us that an investment in this stock is a safe
Investment and that on a conservative estimate it will earn 50
per cent or more a year.
STOCK SELLING NOW AT 10 CENTS A SHARE. .
all fully paid and non-assessable. Authorized capital 1100,000.
Incorporated under the laws of the state of Washington.
Circular, map and full particulars. Send for It today.
Queets Trading Co. Hoquiam. Wash.
of Seattle, and Mrs. Coralie Osburn. 29, of
Seattle.
BOLLIXGER-SPORIS Wilfred E. Bol
linger, legal, of Portland, and Kuth Sporia,
legal, of Portland.
POWERS' MASON- Clarence Powers.
41. of Dot, Wash., and Nora Mason, ID, of
Portland.
thotpsov - rowLET John W.
Thompson, 22. of Portland, and Juanlta
Cowley, 20, of Portland.
DUDLEY-BROCK Edward L. Dudley.
30, of Vancouver, Wash., and Clara M.
Brock, 26. of Hood River, Or.
MtEWEN-WIU'OX-E. J. McEwen. 20,
of Portland, and Ella Wilcox, 23, of Port
land .
MAKI-MANDELIN Fell Makl. 29. of
Portland, and 3d at! Ida Man del in, 25, of
Portland. ,
E BY-EDWARDS Orvllle Eby, 21, of
Vancouver, Wash., and Pearl Edwards, 18,
of Vancouver, Wash.
LAW RENCE-STO WELL Ray Lawrence,
legal, of Portland, and Frankie Stowell,
38. of Portland.
PAYNE-BURNETT B. F. Payne, legal,
of Mason City. Ia., and Elsie 31. Burnett,
leeal. of Vancouver, Wash.
REECE-KRENZ Francia F. Reee. le
gal, of Seattle, and Ottille E. Krenz, le
gal, of Seattle.
LIBERTY AND VICTORY BONDS
If ym mailt nell your Liberty or Tlrtory bonrtn. ell to as.
If you ran buy more Liberty or Victory bond, buy from na.
On February 24. 1K20. the ciosinr Nt-w York market diMc-m wr a
below. They are the governing nrlcn for Liberty and Yiriorv bonds all
the world, and the highest. We advertU thee prirm daily In onlr that yoa
may always know the New York market and the eiact value ot your Liberty
and Victory bonds:
it i."t 2d 1st 2d aa 4th Victory
3'?S'4 4.x 4', 4 4, B 4 S 4
Market... $yyw) HU 0 $10.10 SU1.24 $;mi m $iC I'.hi 70 M t7
luiereat... .33 .7S 111 .S3 1.1 S 1 1.K1 .7 3
Total ft.48 $ttl. IR Sri 121 $12.11 tni.M t4. $12 28 f 4t $a AO
When buying we deduct 37c on a $50 bond and 50 on a 11000 bond. Wo
sell, at tho New York market, pluit the accrued Intereitt.
Burglar and Fireproof Safe Itrpoolt lloveo for Rat
4ien I ntll It r. M. on, Mfttiirdaa
MQRRIS BROTHERS, Inc.
rh. Premier Municipal llond limine. I apt 1.1 n. MIIIlM IMsa.
Morris HulliliiiK, HIHI-illl Stark St.. Rrlarw Alls and th.
Telephone. Rroadwar 2151. KtahlUhed Over a Unarter Oatwrs.
Municipal and Province
BcMcls
Tax Exempt in Canada
Payable in U. S. dollars
Old seasoned bonds of the
best cities and provinces in
Canada at prices based on
advantageousexchange rates
to yield upwards of 7.
Ask us for details and prices.
Freeman
Smith
a
CAMP
CO.
SCCONO FLOGM
jfcsuMxairgsM Bum sua
is the story of
Peter Perkins
and how he ac
cumulated $10,000 in ten
years by invest
ing $25 per month
in high-grade listed
stocks and bonds,
on a novel plan.
"Getting Ahead" is
as interesting as
anything you ever
read. Thousands
have read it and are
now"getting ahead"
financially on the
same plan.
You will be fascin
ated with it. But
better still, it will
show you a new way
to invest your sav
ings monthly how
to get interest, plus
a PROFIT, on your
money without sacri
ficing1 safety. We send
it free. WRITE FOR IT
TODAY.
Selected Bonds
5 to 6.50
To Yield
From
EXEMPT FROM ALL FEDERAL INCOME TAXES.
To Yield 5
$12,000 Coos County, Oregon, School District No. 9.
Interest semi-annually.
To Yield 58r0
$26,000 Chelan County, Wash., Road and Bridge.
Interest semi-annually.
To Yield 5.45
$20,000 Big Horn County, Wyo., School Diet No. 41.
Interest semi-annually.
To Yield 6.50
$29,000 City of Jerome, Idaho, Local Imp. Bonds.
Interest semi-annually.
Forward Your Order
By Phone, Telegraph or Mail
All Bonds Subject to Prior Sals.
1umbermersrr:ust o.
n I A i I
B o rd s -Trusts - Acce ptarvc e s
Capital 3, Surplus IMam
SrfV,lCISCO lumberman. Old,.
forTi ara. uraqorw
CANADIAN BONDS
Due to present exchange rates, general obligration bonds of
Canadian Provinces (correspond to our States) may be pur
chased at exceptionally attractive prices. Principal and interest
of the following bonds are payable in New York in United States
gold:
4,006 ProTlnee of British Colnsakla .
15,000 Province at British lolumbis B's.
8.000 Province of Alberta IS'-
24,333 ProTlace ot Saskatchewan 4's.
Dn
102.
. XUZM
"7
14
Yield
T-on-V
J4
Wire orders nuar ho sent nt .or nanus.
BLYTH, WITTER & CO.
Government, Municipal and Corporation Bonds
Yeon Building
new TORK
Telephon Mala 3304.
SAX FRANCISCO PORTLAJTO IX) 3 AJFGrf.Ka
149S South La Salle St. Chicaga
' KITH
Those who invest in safe bonds go forward steadily, a
little at a time, to be sure, but always forward. . Those
who speculate go ahead today, slip back tomorrow and
don't know what the day after.
fThe House Built Square"
SQirstens & paries, Incorporated
Government, Municipal and Corporation Bonda.
Third Floor U. S. Bank Bid?. Telephone: Broadway 4108 B
(ai
John Y. Richardson & Co.
Certified Public Accountants
LXCOMB TAX CONSULTANTS
Concoid Building, Portland, Or.
Telephone Main 8231
7
Preferred Stocks
Portland Gas & Coke Co.
Pacific Power & Light Co.
"General Motors Corporation
No mistake made in buying seasoned Preferred Stocks.
Exempt from normal tax.
Robertson & Ewing
207-8 Northwestern Bank Bldg.
i i
PAYMENTS
monfhly buys outright any stock or j
bond Purchaser sccurrs att tiivkkndi.
Odd lot our specialty Wrrttfbrsecttd
list and full particulars - FREE
CHARLES E.VAN RIPER
Member Co"oliid Stocfc Ccr9t
SO BROAD STL NEW VCPK . ,
YAMHILL COUNTY
5 Bonds
Beat Oregon County Bond Ever Offered
Price 5.10 Basis
E .nevereaux Sifompany
87 Sixth St.
Municipal Ponds Broadsrar 143
Ground Floor Wells-r'argo Bids'-