THE MORNING OKEGONIAN, TUESDAY, MARCH 9, 1920
2f
- i
-
t
. '-.-1
i
- ' "f
si
OPEN WINTER AIDS
LI
VESTOCK INDUSTRY
Lambing Progresses Under
Favorable Conditions.
FLOCK INCREASE IS GOOD
Shearing Operations Start in Early
Sections of Coast Ranges
Kevived by Rains.
The open winter has generally favored
livestock In the northwest. Lambing is
progressing under exceptionally good con
ditions and increases are satisfactory. "Wool
shearing is besinring in the early sections
of the northwest and considerable prog
ress In this respect has been made in the
southwest- Ranges generally have been
dormant in the central and southwestern
sections of the coast until revived by re
cent rains. Detailed reports of conditions
In the Pacific coast section are given by
the weather bureau as follows:
Oregon Conditions have been favorable
for livestock, especially early lambs.
Washington Livestock is reported to be
In good condition and lambing is progress
ing under favorable conditions.
Idaho Ths weather la fine for feeding
and all livestock Is doing well. Lambing
made fine progress with conditions ex
ceptionally favorable.
Nevada The open winter has been ben
eficial to cattle and sheep and losses were
small. Lambing was 50 per cent com
pleted with excellent increase In Clarke
county. Rains and warm weather have
started the grass on ranges and pastures.
Vtah Livestock was favored last month
In the middle and southern counties, but
In the northern counties stock continued
poor, subsisting on scanty supplies of ex
pensive feed. There has been ample mois
ture on the winter ranges, February rain
fall in the middle and southern portions
giving a good outlook for spring pasturage
and starting grass generally on the shel
tered slopes.
California Ranges ard pasturage have
not improved sufficiently to allow the
usual grazing and stock feeding continues.
In a few localities feed shortage is causing
suffering among livestock with some loss.
Arizona Ranges were free of snow
most of th.i time and improved somewhat
under favorable weather conditions. Stock
on desert ranges did exceedingly well, an
abundance of food and water being avail
able. Lambing progressed favorably, the
crop being unusually large. Shearing be
gan In the Congress Junction section dur
ing the first week of the month.
RKCEirTS FKOM FARMS INCREASED
Cain in Weekly Wheat Movement Is Re
ported. The 43d weekly bulletin covering wheat
and wheat flour movement throughout the
United States for the week ending Febru
ary "7, in -comparison with the figures lor
the same period a year ago, follows:
1919.
(2.30; fancy $2: culls S1.80; Wlnesapa.
extra fancy $S. fancy $2.80; Ben Davis, ex
tra fancy, S2.S0. Wenatchee Medium to
large Arkansas Blacks, extra fancy $2.90,
fancy $2.83; Wlnesaps, culls, small to large
$1.8502.15. Roller sales, February 4, sizes
unreported: Yakima Winesapa, 2 cars ex
tra fancy, shipped February 20 and 27,
$3.15; 1 car shipped February 19. $3.
Wenatchee -Wlnesaps, fancy, one car,
shipped February 28, $2.90.
At New York sales of Oregon apples to
Jobbers were at the following prices: New-
towns, extra fancy, best, $3.253.50; stock
of ordinary condition, some scalded, $2.50
63; stock of poor condition, 11.25 2;
Wlnesans, best, mostly large, $44.2o;
stock of fair condition, $3.503.75; Spitx-
enbergs, extra fancy, $3.'54; Delicious,
fancy, $3.503.73.
Bank Clearings.
Bank clearings of the north-western cit
ies yesterday wore as followsr
Clearinrs. Balances.
Portland $7,2M.OM JJ.OB4.SO0
Seattle e.ONV.Utni i.ftvn, jkj
Tacoma 1.047.1 15 2.V,:03
Spokane 2,659.942 909,616
PORTLAND MARKET QUOTATION
Grain. Floor, Feed, Etc.
Merchants' Exchange, noon session.
Oats Bid.
March April
No. S white feed Jitf.OO $39.50
Corn
Xo. 3 vellow M.so 60.au
Eastern grain, Duia
nuts
3-lb. clipped f 0O 6R.00
3S-lb. cllDoed o'JOO
No. 3 vellow 60-50 61.00
WHEAT Government basis, i.au pmi
FLOUR Family patents. S1.J.-1D; oaKerw
hard wheat. $13.75; whole wheat, $12.05;
graham, $11.80; valley. $11.40; straights,
Sll nor hnrrel.
MILLFEED Prices I. o. v. mm. ens
cart ace 12 extra. Mill run, car nu u
l.rt rsTi S41..riO per ton: roues, oaner,
rolled oats. t4.50; ground barley. $72;
scratch feed. $80.
CORN Whole. !", cracaea, sm per too
HAY Buying prices, f. o. o. rortiana,
Alfalfa, $30.50; cheat. $1718; clover,
$25; oats and vetch, $26; valley timothy,
$172&
STOCK IMKET BUOYANT
ADVANCES OF 5 TO 45 POLXTS
ARE RECORDED.
Dairy and Country Produce.
BUTTER Cubes, extras, 626214c per
pound: prints, parchment wrappers, box
lots, 63c per pound; cartons, 66c; half box
es. V-c more: less than half boxes, lc more;
butterfat. No. 1, 64&tt.c per pound at sta
tions; Portland delivery, ordinary grades,
67c; A grade, 69c
EGGS Jobbing prices to rMallers: Ore
gon ranch, case count, 373Sc; candled,
4iZr4::c; selects, 45c.
CHEESE Tillamook, f. o. b. Tillamook;
Trlpieas, 32c; Young Americas. 33c; long
horns, 83c. Coos and Curry, tab.
Myrtle Point: Triplets, 31c: Young Amer
icas, 32 'tie.
POULTRY Hens, 32'36c: springs, 32
33c: broilers, 40c; ducks. 43c; geese, 20
25c: turkeys, live, 40c; dressed, choice, 50c.
VEAL Fancy. 2Htc per pound.
PORK Fancy, 20c per pound.
5.664,000 ' 2,889,000
4.961,000 3.840,000
690,490.000
1,884,000
2.006,000
81,960,000
219,306,004
1920.
Wheat receipts from
farms, bushels...
Wheat receipts front
farms, previous
week, busheis ....
Wheat receipts from
farms, June 27 to
February 11 7C 0,952. 000
Flour produred dur
ing wwek, barrels. 2,244,000
Flour produced dur
ing previous week,
- bushels 2.206,000
Flour produced June
27 to February J7 97,359,000
Total stock wheat,
sll elevators and
mills, bushels 182,625,000
Total stock wheat
all elevators and
mills previous
week, bushels 188,696.000 225,833,000
Change for week,
decrease, bushels. 6.071,000 6.527.000
Exports of wheat and flour July 1, 1919.
to March 1, 1920, amounted to 88,723.000
bushels of wheat and 10,982,000 barrels of
flour, making a total equal to 138.142,000
bushels of wheat, compared with 120,624,
000 bushels of wheat and 17,374.000 barrels
of flour last year to March 1, 1919, mak
ing a total of 19S.S07.000 bushels of wheat.
Last year's total flour exports Included
-American relief administration and Amer
ican expeditionary force shipments.
WINTER WHEAT IN GOOD SHAPE
Boil Dry In Northwest With Less Than
Normal Precipitation.
Crop conditions in the Pacific coast dis
trict are reported by the weather bureau
as follows:
Arizona Wheat, oats and barley made
an excellent growth Moderate temper
ature invited agricultural activity through
out the state.
Utah Winter grain crop is generally In
fine condition and there has been some
field plowing and minor agricultural work
at Intervals.
Nevada Winter wheat, rye and barley
are thriving In the south portion.
Idaho Light snow cover which is be
low normal for the season. There was
abundant sunshine.
Washington Mountain snow less than
half the normal amount and ground bare
much of time, yet wheat is In generally
good condition. Soil was mostly frozen
but some plowing done afternoons.
Oregon Soil dry enough at last of
month for plowing and seeding over prac
tically all of state, and In some sections
too dry. Almost no snow fell In the moun
tains and streams continued low.
California--General rains in last decade
and first two days of March relieved
drouth, conditions somewhat. Crops were
benefited and germination of late-sown
barley and wheat hastened. Water short
age acute.
CORN AND OATS BIDS ADVANCE
Wide Spread in Wheat Premiums Quoted
in Trade.
A smsll smount of business was reported
In the wheat market. There was a wide
spread in the prices quoted by buyer
and sellers, the premiums being given as
10 to 14 cents on soft wheat and 30 to
60 cents on the hard varieties.
Coarse grain trade was quiet with prices
generally firm. At the Merchants' Ex
change corn bids were 2550 cents higher
than on Saturday, while oats bids ranged
from unchanged to 50. cents up.
Terminal receipts. In cars, were reported
by the Merchants Exchange as follows:
Wheat.Bar.FlouT.Oats.Hay.
Portland Moil. 34
Year ago.- 2ft
Season to date.. 6573
Tear ago 6493
Tacoma Sat. . . 49
Year ago 14
Season to date.. 5739
Year ago 4831
Seattle Sat. . . 27
Year ago 1
Season to date.. 4978
Year ago 44rt
SHIPMENTS OF APPLE8 DECLINING
Demand in Loral Market Is Chiefly for
Ordinary Stork.
Trading In the local apple market was
confined- chiefly io the lower grades of
ordinary stock, which moved at prices
ranging from $1.25 to $1.50. There was
little Inquiry for fancy or extra fancy ap
- pies- Shipments are declining, the move
ment out of the state 8aturday heing only
six 'cars.. ,
Sales in the northwestern f. o. b. mar
kets i were wired as follows: Yskima
Medium to large Pomes, extra fancy.
Fruits and Vegetables.
FRUITS Oranges. l4.50lffi7.S0; lemons.
$7.0087.50 per box; grapefruit, $3.757.50
per box: bananas, loiic per pouna; ap
ples, $1.253 per box; cranberries, $4.50
per box. $1'J per barrel.
VEGETABLES Cabbage, 4'47c per
pound; lettuce, $2.7563.50 per crate; beets.
$3.50 sack; cucumbers. $203 per dox. ;
carrots, $1.75 per sack; celery $9.50 10
per crate; horseradish, 15c ' per pound;
garlic, 40c . per pound: turnips, $4 per
sack; cauliflower. $1.8r.g0.50 per crate;
tomatoes, $3.504.00 per box: parsnips.
$3.30 per sack; artichokes, $1.752.00 per
dozen: peppers, 4050c per pound; spin
ach, $2.00(2.50 per box; rhubarb, $3.00
3.75 per box; peas. 1618c per pound;
sprouts. 17c per pound; asparagus, 22&
25c per pound.
POTATOES5 Oregon, $325.25 per sack;
Yakimas. $6.00: sweets, Sc pound.
ONIONS Oregon, &V2&OC per pound.
Staple Groceries,
Local Jobbing quotations;
SUGAR Sack basis: Cane, granulated.
15.90c per pound; extra C. 15.90c; Golden
C, 15.40c; Yellow D, 15.30c; cube, in bar
rels, 16.75c.
NUTS Walnuts, S23!)c; Brazil nuts,
30c; filberts, 35c; almonds, 35938c; pea
nuts, 15015Hc; chestnuts, 25c: pecans
32c; hickory nuts, 15616c; cocoanuts, $1
per dozen.
SALT Half ground, 100s, $17.75 per ton;
60s. $19.50 per ton; dairy. $26.50028 per
ton; best refined, 50s, $36.50.
RICE Blue Rose, 18c per pound.
BEANS White. 8c; pink. 8c; lima,
17c per pound; bayous, 10c; Mexican reds,
8c per pound.
COFFEE Roasted. In drums. 39 510.
Provisions.
Local Jobbing quotstions:
HAMS All sizes, 35p38c; skinned, 289
38c; picnic 24gp25c; cottage roll, 30c.
LARD Tierce basis, 25fec; compound,
25c per pound.
DRY SALT Short, clear backs, 25
29c ; plates, 23c
BACON Fancy. 43 50c; standard. 83
Stock Dividend Decision Sends
Prices Up With Rash Bonds
Share in Rise.
KETW YORK. March S. The tons- await.
ed decision of the United States supreme
court, which declared stock dividends free
from taxation, turned today's stock market
from early irregularity to feverish ac
tivity and: absolute buoyancy in the later
ueaungs.
Gross gains In a wide variety of Issues.
comprehending all the leaders and many
specialties, ranged from 5 to 43 points.
prices tor tne most part being with
in easy distance of highest levels.
The movement was accompanied bv re
ports that many corporations would soon
announce substantial increases of dis
bursements to AhArehotflnra Tt I. hA.
lieved that many of the industrial com
panies which added enormously to their
earnings during the war contemDlate
splitting up tneir high-priced shares witn
auenoant oeneiita in the form a "extra
dividends. W ,
Today's advance was preceded by i
severe reaction, the market dropping
irom s to 11 points as a result ot Incor
rect reports of the court decision by the
news agencies operating in the financial
district. Publication of the Associated
Press summary effected a rapid readjust
ment of values, the market rising almost
steadily In the last two hours.
Trading was In largest volume of any
session in r,any weeks, aggregating 1,-
tov.vw snares.
Other developments included a moder
ate reaction In foreign exchange, an easier
trend to call money, another $3,000,000 gold
shipment from Canada and engagement of
$1,250,000 gold from South Africa via Lon
don. Bonds were Irregular at the outset: bat
hardened later on the rise of stocks.
Sales, par value, $13,800,000. Old United
States bonds were unaltered on call.
o
nun
JBem
CLOSING STOCK QUOTATIONS.
Am Beet Sug.
Am Can .....
Sales.
500
6.200
44
Low.
Last
Sale.
Bides and Felts.
HIDES Salted hides, l'u24c; green
hides, l!ic; calf skins, 6070c; salt horse
hides, large, each. $8; salt horse hides,
medium, each, $7; salt horse hides,
small, each. $6; colt and glue horse hides
at value.
PELTS Dry rine long wool pelts, lb..
40c; dry coarse long wool pelts, lb 35c;
dry fine short wool pelts, lb., 85c; dry
coarst short wool pelts, lb., 25c; dry sheep
shearings at value; salt fine long wool
pelts, Februarys, each, $3.50M; salt coarse
long wool pelts, Februarys, each, $33 50;
salt sheep, shearlings at value; dry goats,
long hair, per lb., 2Sc; dry goats, short
hair, per lb., 20c; salt goats, large, 13 0
3.50; salt goats, meaium, each, $22.2fi;
salt goats, small, eacll $1 & 1.50; shearlings
and kids at value.
Oils.
LINSEED OIL Raw, parrels. $2.06;
raw, cases, $2.21; boiled, barrels, $2.08;
boiled, drums, $2.11; boiled, cases, $2.23.
TURPENTINE Tanks, $2.13; cases,
$2.28.
COAL OIL Iron barrels. 13 Vi 916c; tank
wagons, 13ic; cases, 24 31c
GASOLINE Iron barrels, 25c; tank
wagons, 25c; cases, 85 c
Hops. Wool Ete.
HOPS 1919 crop, 78c per pound; 3-year
contracts, 4045o average.
MOHAIR Long staple. 40945c; short
staple, 25 630c.
TALLOW No. 1, 10c; No. 2. So pes
pound.
CASCARA BARK Per lb.. 1H4C
WOOL Eastern Oregon, fine, 40050c:
medium, 4550c; coarse, 3537c; valley,
medium, 60952c; coarse, 35 0 57c
Strike Holds tp Argentine WooL
BUENOS AIRES, March 8. Sixteen
million pounds of wool, part of which is
destined for the United States, has been
accumulated at Bahia Blanca, but cannot
be shiDDed because of the port strike, it is
announced in dispatches. An early settle- J
ment of the strike is expected.
Am Loco .... 37.400 98
Am Sm & Rfg 1,500 64
Am Sugar Rig 1,800 130
Am sum loo., l.oiio
Am Tel & Tel. 1,400 99
Am Z L & Sm
Anaconda Cop.
Atchison
A G & W I S S 6.100
Baldwin Loco.146.700
Bait 4 Ohio. 4.100
Beth Steel B.. 17.900
B & S Conner 500
Calif Petrol. SiSOO
Canadian Pac 2.500
Cent Leather. 4,400
Ches & Ohio. . 1.300
Chi M & St P. 7.700
Chi & N W . .. 600
Chi Sit Pac 87,100
Chino Copper. 400
col ti a iron -no
Corn Products 10.000
Crucible Steel. 41,800 228
Crucibe Stee. . 41.SO0 22S
Cuba Cane Sug 2.200
U S Fd Prods. 4,400
Erie 3.000
Uen Electric. 800
Gen Motors ... 79.4O0
Gt No ptd 4,900
Gt No Ore ctfs 1.200
Inspir Copper. 1,700
Illinois central
Inspir Copper.
Int M M pfd..
Inter Nickel..
Inter Paper . .
K C Southern.
Kcnnecott Cop
Louis & Xash.
Mexican Petrol 23,00
Miami Copper 1,000
Mldvale Steel. 7,200
Missouri Pac. 4,800
Montana Pow. 100
N Y Central . . 10,800
N Y N H & H. 32,300
:Wr & west. . loo
Northern Pac. 4.800
Pan-Am Petrol 35.700
Pennsylvania.. i00
Pitts & W Va. 800
Pittsbure Coal 500
Ray Con Cop.. 1.7H0 19
Reading 18.300 77H
Rep Ir & Steel 40.500 955
Sin Oil Rfg 34.700 42
Southern Pac 42.3110 90i
Southern Ry .. 16.200 2554
Studebaker Co 50,900 91
Texas Co 10.200 183
Tobacco Prods 3.S0O 63(4
Union Pacific 5,700 122
Untd Retl Strs 72
U S Ind Alco.. 8.000 87
U R Steel .... 19,300 100
do pfd 800 112
Utah Copper.. 800 73
Western Union 100 S.V4
Westing Elect 2.500 52
Willys-Overlnd 7.700 25
National Lead 200 7SV4
Ohio Cits Gas. 3,600 43
Royal Dutch. 12,000 1 01 H
1.000 20(4
4,00. 59
4.000 84 T4
157
120
37
92
26
86i
122
S4
58
40
87
41
34
40
S7
44
64
14
168
302
79
38 '4
54
87
54
35
21
79
18
29
10:1
181
23
48
80
65
74
36
95
80
92
42
28
400
1.700
6.400
2,300
7.800
l.ioo
1.700
300
80 83
42 44
131 137
4 20 21
94 98
2 64
127 130
85 87
98 99
19 19
57 68
82 84
145 157
108 119
34 37
86 91
23 26
33 36
121 122
79 84
53 58
S7 39
86 87
35 39
33 33
39 40
83 87
191 27
191 227
43 44
62 64
14 14
160 168
200 301
77 77
87 38
63 54
87 87
. 53 54
S4 34
21 21
75 79
17 18
25 29
103 103
173 180
22 23
45 47
27 29
63 63
70 74
31 35
95 95
77 80
85 90
42 42
28 28
56 56
1S 18
74 77
87 95
40 41
95 99
23 25
84 90
177 183
64 .")
119 121
69 72
80 84
95 100
111 112
73 73
85 85
51 .12
24 23
77 78
41 45
99 100
Back of our bonds are all the resources of the
city, district, county, province, state or government
issuing them. There are ships which sail the seven
seas bringing their cargoes from north and south
and east and west; there are giant monsters of the
rails pulling their heavy laden trains; there are
industrial plants with smoke stacks and turning
wheels; there are fields and flocks and golden grain;
there is business enterprise of every kind-r-com-merce,
industry, finance and agriculture; there are
homes, buildings and improvements. The bonds
you buy from us are a first mortgage against all .
these resources, which are pledged to pay interest
and principal as they come due. And, linked with
them is the indomitable spirit of the people" who
have bonded themselves in order that com
munity, state and national development might kecR
in the lead of advancing civilization.
Oregon, Washington, Idaho and provinces of Canada are represented
in our list of offerings the great Northwest with resources of every
kind and description awaiting the hour when they will be serving tho
needs of an ever-increasing number of people. Men with vision and
foresight see a promising future for these municipalities. For over a
quarter century we have had faith and confidence in the Northwest,
and during this long period not a single Municipal Bond from thesa
communities, sold by us, has ever failed to pay either interest or prin
cipal as they came due.
Burglar and Fire-proof Safe Deposit Boxes for Rent
MORRIS BROTHERS, Inc.
The Premier Municipal Bond House Capital One Million Dollar
Morris Building, 309-11 Stark Street, Bet. Fifth and Sixth
Established Over a Quarter Century
Phone Broadway 2151
Call money easjr: high, 8 per cent: low,
per cent: ruling rate. 8 per cent; closing
bids, 7 per cent; offered at 8 per cent; last
loan, 7 per cent.
Bank acceptances, 6 per cent.
Bar silver. $1.2S.
Mexican dollars, 99 c.
LONDON, March 8. Bar salve. 78 i
per ounce.
.Money. per cent.
Discount rate, short bills. 5 per cent;
three-months' bilis, 5 1-316 per cent.
HIGHER AT CLOSE
BONDS.
rr s i.th stia. . .95.601 Anelo-Fr 5s ... 98
do 1st 4s 90.32 A T ft T cv 6s. 96
do 2d 4s 89.581 Atch gen 4s 76
do 1st 4s... 91.10 D & R a con 4S 03
do 2d 4S...89.98IN Y C deb 6s.. 92
do 3d 4s...92.6HN P 4s
do 4th 4s. . .90.08IN P 3s
Victory 8s ...97.MIPac T ft T 5s. .
. . .yi.iuir-a con s.
.100
-100
.106
.10(1
. .S8
..88
S P cv 5s. . .
So Ry 5s ...
U P 4s
U S Steel 5s.
74
53
85
.. 91
-.102
.. 84
.. 82
-. 87
do 4s
TJ S 2s reg. .
do coupon
U S 4s reg. .
do coupon
Pan 3s rejr. .
do coupon
Mi nine; Stocks at Boston.
BOSTON, March 8. Closing quotations:
Bid.
33 I North Butt
. ll01d Dom
. 60 lOsceola
.340 . IQuincy .....
. 14 Superior
. 41!Sup ft Boston...
. l3i?nannon
16
At
46
57
8
4
15
3 I Utah Con 1
31 IWinona ........ 1
3 Wolverine 20
62
Allouez
Aris Com ....
Calu ft Ariz. ..
Calu ft Hecla.
Centennial ...
Cop Ranpe ..
h:ast Butte ..
Franklin ....
Isle Royalle
Iike Cop ....
Mohawk .....
Swift Co. Stocks.
Closing prices of Swift ft Co. stocks at
Chicago were reportea Dy uverDecK a
Cooke company of Portland as follows:
6wift ft Co 123
Libby, McNeill ft Libby 26
Swift International 42
National Leather 14
Money, Exchange, Etc
NEW YORK, March 8. Mercantile pa
per. 66 per cent.
Sterling. 60-day bills, $3.56; commercial.
60-day bills on banks, (3.56; commercial,
60-day bills, $3.55; demand, 13.59;
cables, 13.00. Francs, demand, 13.87;
cables, 13.85. .- Belgian francs, demand.
1S.47; cables, la 45; guilders, demand,
3; cables, 36; lire, demand, 112;
cables, 18.10; marks, demand, 1.08; cables,
1.09.
Further improvement occurred in ster
ling in the final dealings. Sterling, 60-day
bills, $3.56 ; commercial, 60-day bills on
banks, J3.66 : commercial, 60-day bills,
(3.56: demand. S3.60; cables, $3.61.
Francs, demand, 12.17; cables, 13.75.
Government bonds steady. Railroad
bonds irregular.
Time loans strong. Sixty days, 90 days
and six months, 8 per cent.
7 25
You Can
Buy on
Partial Payments
EVEXIXG C!P FOR OFFICIAL- RE
PORT OX RESERVES.
July and September Sell at High
Price Records for Seasor; Slack
ened Baying; of Oats.
CHICAGO, March 8. Evening up In an
ticipation of. the government raport on
farm reerves had a decided bullish effect
today In the corn market. The report as
to corn was about what was looked for,
but the reserve of oats exceeded by far
the most optimistic private estimate. Corn
closed unsettled at c to 3c net ad
vance, with May $1.47 to $1.47 and
July $1.40 to $1.40. Oats finished un
changed to c higher and provisions up
3c to 70c.
High price records of the season were
again excelled by the July and September
corn deliveries.
Slackened domestic buying and absence
of export buying made the oats market
lag.
Provisions were lifted by corn strength.
The Chicago market letter received by
the Overbeck ft Cooke company of Port
land said:
Corn For most of the session the mar
ket backed and filled within a narrow
range, but with a large volume of even
ing up. It was quite a surprise that the
market digested the profit-taking saies in
such an impressive manner and the sharp
rise toward the close was accompanied by
general short covering. Receipts were
light and the cash market firm to z cents
higher. The situation in corn at .present
is a most peculiar one, the paramount
factor for immediate consideration neiner
the small stocks and remote possibility
of an accumulation In time to apply to
May contracts, which with cash selling at
premiums of 12 to 15 cents puts shorts in
1 that month in an unenviable position. The
government report as published after the
close today. Indicated there is plenty of
good quality corn in the country to come
forward when the farmers have time and
good roajls to haul -on. and when trans
portation difficulties have been adjusted.
The latter will undoubtedly assert itself
when the present tension is relieved.
Oats The market had a heavy appear
ance early, but gained strength with corn
and advanced nearly 2 cents from the low
point, selling off at the close so that the
net gain for the day was only -cent.
Receipts were disappointing, but the de
mand was far less aggressive than re
cently and shipping sales only 12.0OO; spot
prices were unchanged to -cent higher.
It is to be expected that this market will
from time to time display Inherent strength
but we think it will be inadvisable to as
sume sn aggressive position on the buy
ing side, as the supply and demand situ
ation in general is not conducive to further
price enhancement.
Leading futures ranged as follows:
CORN.
Open. Hljh. Low.
$1.44 $1.4S $1.44
1.38 1.41 1.38
1.35 1.38 1.34
OATS.
..83 .84 .83
.76 .77 .76
MESS PORK.
85 00 35.55 35.00
30.45 33.25
LARD.
21.50 21.85 21.50
22.10 22.45 22.07
SHORT RIBS.
18.40 18.65 18.40
18.90 19.15 18.90
t'ash prices were:
Corn No. 3 mixed, $1.58; No. 3 yellow,
$1.591 .61.
Oats No. 2 white. 91ff92c; No. S
white 9091 c.
Rye No. 2, $1.70.
Barley $1.48 1.55.
Timothy seed 12fq 14.
Clover seed 445 & 59.
Pork Nominal.
Lard $21.02.
Ribs $17.50 gilE.SO.
Grain at San Francisco.
SAN" FRANCISCO, March 8. Grain
Wheat, $3.66 2-5 per cental; oats, red,
$3.2003.25; barley, feed, $3.403.45; corn,
California yellow, $3.293.25.
Hay Wheat or wheat and oats, $353S
per ton; tame oats, $37(?40; wild oats,
nominal: barley, nominal: alfalfa. $3237:
May..
July. .
Sept..
May..
July..
Mar..
July. .
May. .
July..
May. .
July. .
Close.
$1.47
1.40
L36
.84
.76
S5.55
35.45
21 82
22.42
18.65
19.12
stock hay, $29 32; barley straw,
per bale.
Seattle Feed and Hay.
SEATTLE, Wash.. March 8. City deliv
ery Feed, mill, $48 per ton; scratch feeo,
$83; feed wheat, $87; all grain chops, $75;
oats, $72; sprouting oats, $74; rolled
oats, $72; whole corn, $72; cracked corn,
$74; rolled barley, $78: clipped barley, $12.
Hay Eastern Washington timothy,
mixed, $.'iS&39 per ton; double compressed,
$42: alfalfa, $35; straw, $1718; Puget
sound, $33.
Minneapolis Grain Market.
MINNEAPOLIS, Minn.. March 8. Bar
ley. $1.27fl.48.
Flax, $5.095.19.
Coffee Futures Break.
NEW YORK, March S. The market for
coffee futures lost part of Its recent ad
vances during today's trading. A dispo
sition to take offerings after the upward
movement ot last week was doubtless in
creased by the somewhat disappointing
showing of the Brazilian markets, the
easier early ruling of sterling and later
In the day there were reports of freer of-
BOesOcI ferlngs from Rto. First prices were 6 to state snil Picifle enat. medium te cbsiie.
27 points lower and the more acllvs ,'"" "": n-nw.
months sold 80 to 41 points below Satur- ,"d,' ""' ""'d.
day's closing figures with May touching J
14.80c and Heccmbcr 14 Mr. Closing prices I DrleH Ir"lt t New York,
showed a net decline of 26 to 41 points.1 VRW VOHK. March 8 Kvsporatefl sp
11 arch, 14.54c: May. 14.82c; July, lo.dic; ! plrs. firm; wustcin, l4-22c; stale, 1 tf
September. 14.85c; October, 14 S.'lc; Ds-I2tir. ...
cember 14 80c 1 Prunes, wr: calirorma s, swziae; tire.
HALL & COMPANY
BUT AND SELL
Railroad
Public Utility
Industrial
Municipal
BONDS
YIELDING
5. to 7
Foreign Government Loans
Local Securities
Preferred Stocks
Lewis BIdg., Portland, Or.
. . 1- a mm. 1 1 i -u ''-c.
demand with, price, nomln.l.y ..nchan..d V." Jr:f;1 X XV f
HI 1 1 H, 1,173c IU I.IU IV Mil l
4s.
to 24 c for Santn
Hup. Ktr.. at New Vork.
VRW YORK. Vari-h 8 ll-ip-
New York Kiia-ar Market.
NKW VOHK, March Uaw suesrf'tm.
rentrlfusal I1 refined, sti stl ; due
rn'i!n!'-1, 1 14 -if 1 a
LIBERTY AND VICTORY BONDS
If you most sell yonr l iberty or Vlrtory bonds, sell te as.
If you ran buy more liberty or i irlry boitd. buy from as.
On March 8. l'.C'O. the cloning New V.irk market prlcwe were SS given he
low. Thcv are the Kovernlnic prices lor l.lhrrty anil Irtnry bonds all over the
world, anil the hiKhi-ft. We ailvertih thee price dally in orrt-r that you ms
always know the New Turk market and tlie riact vaiue of uur Liberty asd
Victory Uunila: ...
lt 1st 2.t 1t 2d rl 4th Victory
S'-s 4- 4 4 a 4s 4',s 4, 8 s
Market... $95.M $90 80 $89 40 $111.10 $ 70 $:rj 4 IDiliK $97 43 IK 7 44
Interest... .82 .1)3 1-7 0 1.35 2 01 1.10 .M 1.11
Total $96 48 $l."j.- $!inn7 $92 $'M 0 $94,411 $91.76 $ Jrt $:i nn
When buyins we deduct 37c on a $.i0 bond and 12 50 on a $loou bend, si
sell at the New Vork market, plus the act-rued Interest
Uurclar and rireuronf Hale Orpoelt Ho-.ee for Kent.
Open I nlil fl I. M. . Haturdsts.
MORRIS BROTHERS, Inc.
foe Premier Municipal linnri House. Capital one Million Duttara
Morris Klilg.. 309-311 "lark St.. Het. Bin and lh.
Telephone Broadway 2151. Kt)ihllhed Over a Ounrter of a Onturv.
2S ... 19
I 7 .... 4
169 3121 410 1465
918 1993 605 2696
12
"72 9173 153 "899
31 137 1043
13 3
3 1 6
230 600 609 1099
65 1018 511 2;6
Two Excellent Bonds
City of Vancouver, B. C.
' 4128 Due 1933
Price 76.57. and int. to yield 7.25
Province of Alberta
Guaranteeing University of Alberta
4101 Due 1933
X Price 96.60 and int. to yield 7.25
jj umbermeisrrst to.
B onds -Trusts-Acceptances
Capital a. Surplus $600,000 ' " '
r francisce tusibarmena Bid. - - Ssta.'tf l4t
Porlrd.v Orqor. .
' Under Supervision Banking Department, Btato of Oregon
Frank Waterhouse & Company
Operate in the Pacific Ports
They have offices and agents throughout the Orient.
They are Ship Charterers, Dock Managers, Coal Contractors, Manufacturers, "
Forwarders and Ship Bunkerers.
We have purchased, and offer the unsold portion of $1,100,000 6 Collateral
Trust Serial Gold Notes of Frank Waterhouse 6i Company of Seattle, Washington.
Due January 1, 1922 to 1925.
These Notes have as security $450,000 First Mortgage
Bonds on valuable Seattle properties, and also
$800,000 U. S. Liberty Bonds.
The same proportion of Liberty Bonds must be retained as security through'
out the life of the loan.
Price on Application
Full particulars may be had from the
BOND DEPARTMENT .
CONTINENTAL and COMMERCIAL
Trust and Savings Bank
CHICAGO
Wh
Collect
en Due
The great majority of merchants pay '
their bills when due if they. can.
,It is estimated that concerns who arc
chronically slow, with 25 or more
of their creditors, eventually, faiL
;The American Company under its.
Unlimited Policy guarantees to pre-,
vent, else pay, bad debt losses beyond
the Normal Loss inherent in any line
of business, whatever the aggregate
amount of such covered losses. .
CAMERON CREDIT-INDEMNITY, CQ
' or NEW YORK LM. TREAT, president -
THI COMPANY THAT H
i TMC UMLMMTU POOC-'
H. T. MacRILL, GENERAL AGENT
Board of Trade BIdff. Portland, Oregon
Phone Main 1179
57 Per Cent Hydro-Electric
57 Per Cent of the electric output of Consumers Tower
Company of Michigan comes from its hydro-electric plants.
7i communities served.
The bonds or debentures of this company offer an attractive
investment.
General and Refunding 7s.
Debenture Serial 7s
...7.28 basis
,..7.75 basis
Complete Illustrated circular sent on request for OR-290.
The National City Company
Correspondent Offices in Over 50 Citir
PORTLAND TE0N HLDG.
Telephone! Main 072
Bonds Preferred Stocks Acceptance
I-.
9 ,
i.-
h
S.
1 .
f '
V ,
J;.",
t
h