TIIE MORXING OJIEG ONIAX, THURSDAY, SEPTEMBER 23, 1920
21
UU It
n in i
mm m
FLOUR PRICE CUT
Best Family Patents Reduced
35 Cents Barrel.
MEW LOCAL LIST IS $12.60
Haters and Other Grades Are Also
Lowered Large Stocks, Slow
. Trade Cause of Decline.
A eat of 35 cents ft barrel In patent
flour prices was Announced by millers
yesterday, the first change In the flour
market since the latter part of July. The
Bew quotation, which is effectivs lmroe
mediately. Is $12.60 a barrel. Tbe re
duction In bakers' flour prices was wider,
bard wheat being quoted at $12.25 and
bluemem at $12. Soft valley flour la
Uated at $1040, whole wheat at $10.80 and
ffraham at $10.60. Similar declines took
place In the Puget sound flour markets.
The weakness of the flour situation was
4ns to tbe Inactivity of the market. For
several weeks bakers and other buyers.
Anticipating a lower schedule when the
new crop came on, have been limiting:
their purchases to their Immediate re
quirements. As a consequence, stocks
feava become rather heavy for this time
f the year and the mills faced the pros
pect of carrying a considerable surplus
into the new flour season unless steps were
taken to stimulate the movement.
Prices on new crop flour may not be
fixed for a month yet. Wheat Is coming
In at a good rate to shippers and some
of It is being ground by the mills.
The outlook for export flour trading Is
most unsatisfactory. The Europeans have
bought a large amount of American
wheat, but have confined their flour pur
chases to parcels for shipment from the
Atlantic seaboard. 2t is the policy of the
British government to foster the milling
industry there and no flour In quantity
may be bought on this side until late in
tbe season.
TRADING IN WHEAT IS LIMITED
Few Changes In Bids on Local Grain
Board.
"Wheat trading at country points was
limited yesterday. On the local board
September bids on soft white and hard
winter were raised 2 cents and white club
was 1 cent higher. Other grades were
Unchanged.
The tone of the coarse grain market was
asler. White oats bids were reduced
6 cents. Feed barley ranged from 00
cents lower to 73 cents higher.
Weather conditions In the middle west
as wired from Chicago: "Chicago and
vicinity clear, Nebraska, Kansas, Arkansas
generally cloudy to partly cloudy. Fore
cast, all west generally fair."
AcntiMiai rogeipts, in cars, were re
ported by the Merchants' Exchange as
xouuws:
Wheat.Bar.Flour.Oats.Hay.
Year ago. ....... aj
beason to date...3SiU
Year ago 2J02
Tacoma Tuesday bH
Year ago
beason to date... 1082
Y'ear ago 1310
C utile Tuesday.
Year ago 1 10
Season lo date... 1)74
lvar ago 1334
flngs here are 837,049 pounds as against
i.wo.us pounas a year ago.
Eggs were scarce and firm with buying
and selling prices unchanged. Egg hold
ings in storage are 34.214 cases as com
pared with 32,456 cases a year ago.
Poultry receipts were moderate and
prices were unchanged.
Dressed pork was very scarce and firm.
Ths veal market was steady.
Bank Clearings.
Bang clearings of the north western cltlea
yesterday were as follows:
Clearings. Balances.
Portland 17,415,28 $1,837,764
Seattle 6.228. JSO 1.372.3S0
Tacoma f")8,2t3 106.7R1
Spokane 2.342, 8I1 1,043.330
POBTLAXD MARKET QUOTATIONS
Grain, Floor . Feed. Eta.
Merchants' Exchange, noon session.
. li l a
"WTieat
Hard whit ... .
Soft white
White club
Hard winter . . . ,
Northern soring .
Ked Walla 2.30
Oats
No. 2 white 47.00
No. 2 gray 45.00
. Barley
Brewing 50.00
Standard feed 0U.UO
Corn"
No. 3 east, yellow, ship.. 82 00
Millrun 54.00
No .1 v.tlnv deli verv. . .52.50
KLUL'K Family natents. i.tm; d&kvi- a
hard wheat, $12.25: baker's bluestem. $12;
lley, 110.40: whole wheat, iu.bu; gra
ham, $10.60.
M1LLPEED Prices f. a. b. mill; Mill-
run. $57 per ton; rolled barley. o6ii
rolled osts. $58; scratch feed. $S0 per ton.
CORN Whole, $70; cracked, sis per ton.
HAT Buying price, i. o. b. Portland:
Alfalfa. $236'24: cheat, $2122: clover,
$22; valley timothy, new,
Sept.
.. .$2.50
. .. 2.35
. .. 2.3
. .. 2.32
Oct.
$2.48
2.35
2.38
2.32
Nov.
$2.45
2.30
2.37
2.32
2.30 2.30
47.50
40.00
47.50
45.00
40 OO 48.00
4S.50
61.25
45.50
51.50
80. T5
40.00
51.00
7 4
1 ...
40 151 1U8 827
lul 036 218 476
3
22 200 44 230
07 . . . uj 245
2 ... o
17 2 5
76 S2 47 616
168 421
MOTORS CONTINUE WEAK
FURTHER BECMXES IX STOCK
PRICES IX WAIili STREET.
I.ry and Country Produce.
BUTTER Cuoes. extras. 61e Pr
pound; print a, parchment wrapped. In box
lota, 66c" per pound; cartons. 67c; halt
boxes, Vfcc more; leas than half boxes, 10
more; butter fat. No. 1, G3 64c per pound
at atatlons; 68c Portland delivery.
EGGS Buvtnr price, cases count, 68c;
jobtoing; prices to retailers: Candled, 63$
B5c; selects, 6Sc.
CHEESE Tillamook, t. o. b. Tillamook:
Triplets, 81c; young America, 311c.
fUOMK l Hens, Xixa iii'c; springs,
82c; aucka, 2523'Jc: zeese, nominal; tur
keys, nominal.
PORK Fancy, 25H26c.
VEAL Fancy, 23c per pound.'
Fruits and Vegetables.
FRTTTTS Oranaea, tS.2n9: lemons.
$3.25435.75 per box; grapefruit, $36 box;
bananas. 12 13 Vi c per pound.; apples.
$1.503.75 per box; cantaloupes, 92Q2.50
per crate; watermelons, 1 & 2c per pound,
peaches. Sl.G04z2.75 per box; plums, $1
$1.50 box; casabas 2bb &3M:C per lb.; grapes.
2.75iQ3.25 per crate, 10(Qllc per pouna;
pears, $2.50.3 per box: prunes, 3g5c per
pound; huckleberries, 22 He pound.
VEGETABLES Cabbage, 2Hi3c pet
pound; lettuce, 9202.60 per crate; cucum
bers, 60 75c per dozen; carrots, $2. &0 per
sack; horseradish. 25c per pound; garlic.
30c; tomatoes, 40fi8rc box; beans, 7&10c
per pound; beets. $3 per sack; turnips,
$3.50 per sack; eggplant, Ho12c per
pound green corn, 25fii30o per dozen:
sprouts. 15c pound. '
POTATOES Oregon, 2.25Z.70 per 100
pounds; xakima, a.503; sweet potatoes,
6r7c per pound.
ONIONS California brown, $2 02.25 per
sack; pickling, 0631 10c per pound.
YARD PRICES HOLDING
Immediate Future of Steel Industry
Also Attracts Attention Credit
Conditions Improve.
NEW YORK, Sept. 22. Trading on the
stock exchange today was again restrained
as a result of recent events calculated to
bring about a revision of estimates deal
ing with general industrial conditions. Ob
servance of the Jewish holiday also served
to curtail operations.
In addition to developments pertaining
to the motor trade and its collateral
branches, there was much discussion re
specting the immediate future of the steel
industry, especially as to maintenance of
prevailing pris. Oosslp dealt in the
same strain w Uh the metal market, in
cluding coppers.
That some of the leading Industrial com
panies are in need of capital, even at pres
ent high rates, was indicated by the an
nouncement of a proposed note Issue of
$20,00,OO0 by the Bethlehem Steel com
pany, the proceed- to be applied largely
to new construction.
Motors, oils, stels and shippings suf
fered extreme reactions of 2 to almost 5
points, coppers, sugars, leathers, chemicals
and textiles yielding 1 to 3 points. Sales
mouniea to 7UO.OUU snares.
opinions from authoritative banking
sources regarding future credit conditions
were encouraging, greater price stability
Deing predicted, especially for foodstuffs
ana oiner raw materials. because of an
Inflow from Interior banks an abundance
of call money was offered at 7 per cent.
but time funds evinced a firmer tendency.
Foreign exchange was erratic, sterling
ranying arter weakness.
Apart from their irregularity, domestic
and foreign bonds were featureless on en
larged deallnirs. speculative raits a Inn a
showing moderate Improvement. Total
sales (par value) aggregated $14, MM). 000.
Old United States bonds were unchanged
on call.
CLOSING STOCK QUOTATIONS.
Last
Bales. High. T-ow.
ho
100 ::.- 3.-.V.
7i 33 133
2i0 6!t i 6! ft
4.700 7fii. 7
1.2'W 5
2,70
1,100 111 10.H
400
l.ioo
1.200
1.4"0
23.100
Poultry Hems, large, olorea, 375c;
small, SO333c; Whit Leghorn, large, 80
32c; sma.4, 23 27c; strictly young roosters.
3tf &41c; old, 2324c; try era, 4Ui?43c;
broilers, 4S50c; ducks, 25&2Sc; pigeons,
93 4ft 3.50 aozen: squabs, 6560c; turkeys.
alive, 50'52c.
Fruit Strawberries. 75c$l: raspberries.
70c3J$l; blackberries, foftflO; cantaloupes,
standards. 75c61.2o; ponies. C5 0&Oc;
fiats. 334&o; watermelons. $293.26 dosen;
Valencia oranges, 95.50(0 6.36; lemons, 29
4.23; grapefruit, $3 4.25; apples. Bell
flowers, ftl.SOG 1.75 ; peaches, $1 0 1.75;
plums, $1.252;r pears, Bartlett,
wrapped; figs, $11.25; grapes, black,
Sl.75t.f2; seediess, 1.501.75; bananas, 9
Receipts Flour. 800 ouarters: wheat.
4815 centals; barley, 800 centals; corn, 45
centals; potatoes, 8142 sacks; onions, 13,-
ovi sacks; hay, 263 tons; oranges, 1515
boxes; livestock, 2040 head.
1
Coffee Future Break Again.
NEW YORK. Sept. 22. The market for
coffee futures showed a good deal of
weakness today under Mauidation inspired
by the -weakness of futures, especially in
the afternoon, when toe lowest prices of
the day were reached, the close showing
3u to 39 points loss. Opening prices were
unchanged to 7 points iower. due to pres
sure from room interests and a lack of
outside business, because of rumors that
Brazil was about to take some sort of
action toward stabilizing prices. Tbe
later arrival of lower firm offers caused
selling that broke October to 7.06c; De
cember to 7.90c, and March to 8.45c; Oc
tober, 7.50c; December, 7.ic; March, 8.44c;
May, 8.08c; July, 8.84c
Kirm offers from Santos were un
changed nad varied about lo according to
snippers views. Rio 7s were 40 lower at
., American credits.
Local spot demand moderate, with Rio
7k 8 to 8: Santos 4s, 13&13H-
A m Beet Sugar
American Can
Am Car &. Friv
AmH&t, Pfd
Am inter vorp
Amr Loco. .
Am Smt & Rfg
Amer Sugar. .
Am Sum Tob
Am Tel & Tel
A m Woolen . .
Am Z 1- sc S. .
Anaconda Cop
Atchieon . . . .
Atl U Sc. W In
Hald Loco
UNDERTONE OF LOCAIi
MARKET IS WEAK.
HOG
BRITISH WHEAT SCPPLIES LIBERAL
Furl her lm ports M ay Not Be Required
Until Next Year.
commenting on the European wheat sup
ply situation. Broom haii cables from Llv-
rpooJ;
Supplies) of -wheat In tha United King
morn are now very litmra and stocks of
wnoat. atUoat and ashore, pjus the home
wrop, will be sufficient to fill requirements
sjn-tu the end or January, 1921. Weather
continues fins and harvesting Is making
good progress, with reports molersvtelv
feecter.
Continental eountrtesj wKl be the chlpf
tmporbsrs, for thsir outturn of wheat is
most uneven and disappointing, but great
Jforta are being made to economise In
ths consumption of ttrts cereal. ReporU
4 rem Danubiaa counties are most Xavor
sVbla. Further heavy showers have been ex
perienced in Argentina, and the south
ewrpociaIy has been benefited by the pre
'dpitation. Crops and pastoral situation
be considered as somewhat Improved,
Jthough more rains are stU1 required.
"WOOL HOLDERS ARK MORE HOPEFUL
Kncouraged by Reports of Increased Activ
Ity in East.
The wool situation has shown IlttJe
thange d-uring the past week. An opUmis
Jo toae was -noticeaole, hownever, ia the
telegraphic reports from feId representa
tivea of the bureau of markets. Several
al of small amounts of wool were re
ported. There were a:o other offers but
io sales were consummated. The optimism
was doubtless due. in part, to the opening
ef th mUls of the American Woolen com
fany. State reports follow:
Colorado A UtUe better feelJns; on wool
due presumably to reports of Increased
activity at eastern centera No sales re
ported. Missouri Missouri wool pool committee
Jid farmers still holding for better prices.
Several cases were reported of bids hav
ing been received which were not consid
ered satisfactory. Eight interior points
reported no bids received.
Nebraska Situation unchanged. No wool
e Hi tug.
BUTTER RESERVES ABOVE AVERAGE
Holdings of Egg In Cold Storage show
Decrease.
The preliminary tabulation of the month
" 1,1(1 storage report shows IIS Rnn oaa
pounds of creamery butter and tt.41ooo0
oa eggs in cold storage on Septem
bar 1.
The hnMin ir .
- i-rcwiiery nutter are
a.o-.v pounas hs than on Ronipmh
3. 1018. but 10.3uti.OO0 pounds more than
on the. same dat-e in una. Ttre average
7 , 1.v "lo'utnss ior tTie years 1016
w JlT-"' mmusive, are 112.100,000 pounds.
I,rL "creafie in holdings during Au-
Uflv S pounds compared with
pounas in 1919 and li.000.0t
m noiainsj or m egc aPe 1. 175.000
ae lesa than on September 1. 1919 but
14.1,000 more than on tho am. jJ. .
118 and 70.O0O ca, hM than (h( 5., 1
avrB.. Ttm net outward mo.vm.nt dux
Irvg th. month wa., S.OO0 case, compared
JOl 1S3.0OO In 1919 and 3Q.V00O in 191S.
6MALL DEMAND FOR FRESH FRUIT
Peaches Id IJa-ht Supply and Hrak God
TnmatofM Fioarc.
The gren produce trade was very quiet.
Bttwetn the Jewish holiday and th. rain
there wae little demand for any thing on
th. itrt.t. Only three car. arrived from
the nonth during the cay.
There a .carctty of (food tomatoe,
and fancy stock i worti 785 cents,
but inferior tomatoes could be had aa low
as cet:la.
Peach receipt, were .mall. Th. be.t
were held at l.T5?2.25 while .mall stock
Was hard, to sell over tiff.
Batter Market I. Steady. '
The butter market was steady with cube
extras av.ll.bl. At fil cents. Offertnics
agaia abswad a amall lain. Storaie bold-
Buyers Pay Twenty Cents for Best
Offerings Cattle and Sbecp
Are Steady.
The run of stock at the yards was
small again yesterday and sales were made
within the ruling range of quotations.
The few hogs received were weighed up in
small lots and while buyers paid $-0 for
the best, the undertone of the market
wa. Inclined to weakness. Cattle were
nominally steady and sheep and lamb,
were unchanged.
- Kecelpts were 54 cattle, 373 hog, and
489 sheep.
The day's .ale. were a. follows:
Wt. Price ! Wt.-Prlce.
9S5 8.2.1I 8ho... Hit 1B.0U
miu 7.5il:S5 hoKS. . ll3 IB. 00
7.-TM3S hogs.
3 T.i H hos
Halt & Ohio. . 2.KK0
Bethle Steel B 18 "HO
But Sup Cop I'M!
Cal Petroleum 21M)
Can Pacific... 2.200 '
On. Leather... 11.7H0
Chandler Mtr. 4.700
Ches A Ohio. . IS. 200
Chi M 4 St P 2,900
Chi & Norwest 7O0
Chi R I A Pac 9.100
Chino Copper. . 400
Corn Products 2.300
Crucible Steel 4.200
Cuba Cane iSug 2.!00
Krie 12,700
General Elec. 200
General Mtrs. 2S.riOO
Grt North Pfd 2.4O0
Grt N Or ctfs 3iH
Illinois Cm. . R0O
Inppr Copper. 1.100
Int U M Pfd. . 2,000
Inter Nickel.. 3.400
Inter Paper. . 3,5N
Kan Cty South l.loo
Ken Copper.. l,20
l.ouii ft Naeh 100
Met Petroleum 79,100
Miami Copper loo
Mid States Oil 6.700
Mldvale Steel. 4.S00
Missouri Pac 2, BOO
Nevada Copper 40O
N Y Central.. 4.4O0
N 1 N H A H 7.700
Nor & West..' 400
Nor Pacific... 1.200
Ok Pid & Rfg O0
Pan-Am Petrol 11.200
16 steers.
1 steer . .
2 steers.
2 cows. .
1 cow . . .
1 COW. . ,
9 cows. .
1 cow . . .
1 cow . . .
7 cows. ,
1 cow . . .
1 cow. . ,
1 coif. . .
5 hogs. .
1 hog. . .
1 hg...
4 hogs. .
1 hog. . .
1 hog. . .
1 hog. . .
3 hogs. .
1 hog. . .
3 hogs. .
4 hogs. .
24 hogs. .
u.'i hog.. .
1 nog. . .
1 hog. . .
5 hogs. .
1 hog. ..
4 hogs. .,
4 hoiK. .,
14 hogs. .
3 hogs. .
4 hogs. ..
2 hogs. ..
4 hogs. ..
1 hog . .1.
3 hogs. .
2 hogs. .
2 hogs. ..
14 hogs. .
7 hogs. .
1 hog. . .
1 hog. ..
1 hog. . .
1 hog. ..
1 hog . . .
5 hogs. .
2 hogs. .
1 hog. ..
6 hogs. .
2 hoes.
7 hogs . .
9 hogs. ,
3 hogs. .
1 hog. .
2 hogs
auo
975
810
so
8S4
810
920
tiO
70
1
3. 75118 hogs- .
6.5o) 2 hogs. .
7.2;1 9 hogs. .
3 .SO 55 hogs. .
2.7"il 9 hogs. .
6.501 1 hog. . .
0.001 4 hogs. .
6.7.11 4 hogs. .
5.00 6 hogs
310 la.oom nogs... .
2.10 111.001 7 hogs.. . .
140 I1.O0I hog
2o7 19.S0I 5 hogs
230 17.001 5 hogs
240 19.001 la hoga. . .
3S0 17. OOj 4 hogs
146 19..10I 7 hogs
480 17.00" J hQI5
22t i9.as;u ho,.
SM 18. OOJ ESI
t'S ?y-2!33 ho": : : :
1 hog
1 hog
5 hogs. . . .
202 20.001" "OB"
213 19.501 J "I0
1117 20.00 J roR
100 20.001 .'hog
170 20.0O:120 lambs.
213 18.00128 lambs.
2fi7 19 50; H lambs.
600 18.00 18 lambs.
170 20.O0 2 lambs.
225 20.00! 1 ewe. . .
190 20.00; 30 ewes. .
174 20.0OI 15 yearl.
4L-o 17. OV
100 19.501
2116 10751
R10 17.O0I
147 20.00
8HO 18.00
135 18.00
lt3 16.00
105 18 00
1118 1975
17.'.' 17.00
200 10.O0
77 15.00
80 12.00
125 16.00
1!9 19.50
231 19.50
150 16.O0
200 19
1118 19.50
180 3.fiO
125 16 00
95 16.00
200 14.75
126 IS.flO
130 16.00
197 19.00
210 19.(1(1
100 19.
380 17.50
348 17.50
404 17.00
430 17.75
380 17.75
300 18 75
6 9 00
201 20.00
270 18.50
2X0 18.001
290 18. OO
210 20.00
2 SO
lfl'J
2 yearl. .
2 cow.. .
1 cow . . .
1 cow . . .
4 hogs . .
17.00 11 hogs. .
19.751 7 hogs. .
89
165
8
85
125
125
112
95
Rf,5
8S0
630
195
70
108
9
8.50
9.00
9.00
5.
R 25
6.25
6 2."
5.00
6.50
3.00
19 75
15.00
16 00
1RO 19.501 lhog... 230 10.50
i-li ro 4 calves. 112 15 00
250 19.00 lcalf... 110 12!o0
2.VO. 19.25 2 calves. 95 14.00
.110 19.5077 lambs. 64 9 00
JKi 39 . WIO lambs. 71 9.C.0
145 18.50160 lamb. 67 9.00
133 1 , ..0 2 wether. 105 7.50
125 17.50
Ofticial quotations at th Portland TJnlori
stockyard, were as follows:
Cattle Price.
Choice grass steers $ 8.75 9.f.0
Pennsylv.nll
Pitt, & W Vt
Ray Con Cop
Heading . .
Rep In & Steel
Royal D. N Y
Shell T & T. .
1.4(10
1.80(1
400
B.400
6,300
1.20rt
Sin O & Rfg. . 14 SO0
South Pac 6.9O0
Southern Rv. . 42.4O0
S Oil N J Pfd 1.000
Stude Corp.... 21. TOO
Texas Co ....
Texas & Pac . .
Tob Product..
Trans Oil . . .
Union Pacific
U S Fd Prdt.
U S Ind Alco
V S Rtl Stores
U S Rubber..
U S Steel ....
IT S Steel Pfd
Utah Copper. .
West Kleclrlc
95
62 Si
111
89
98
80",
13 14
54 S
84
151
112
4 3
76
20
30 '4
121 W
47 H
82
B5H
3S,
75 4
40
28 4
88
132
3SVi
20 i
143 a
20 i
79
34 'i
90 '4
48
78
10V4
81
224
25 6,
1 02 ' 4
1934
2d
3 7'.4
40
72
35 Vj
96
80'4
4
94 3.
42 ',4
35
15M,
94 14
81
86 V,
53 c
35-4
87 H
31
1(15 Vi
02 H
42 V,
38
69
13
123 a,
59 '4
71
85 1
89
106
4
47
1
98 V4
78
13
54
84
149
111
4314
734
20
. 30
12014
46 14
80
04 4
37 V4
75
38 V4
2S'A
81
129
37
19",
143 V4
20
7S4
34 V4
90
47i
764
19
78
22V4
102 '4
190 'i
20
10'i
3S-,
2 1 '
1 2
. 73 ii
34 '4
93
79 V,
4
9 2 V4
42
34 vi
15 '4
93
80 V4
75
53
33 '4
91!
29
HIS
61
51
37"4
68
12
122 V4
58
84
70
84
89 V4
1 05
K3
47 4
12
sale.
80
35
133 V4
09 '4
76
J5
62
111
89
98 14
80
13
64
84
150
111
43
73 V,
o
30
121
46
81 V4
64 '4
37
75
40
28
81
131
3S
20
143
20
79
34 V4
90
47
76 V.
10
80
22V4
25
102 1,4
190
20
17
39
28
12V4
76
35
Oti
80
4
92
42
35 ',4
15V4
93
80
8GJ4
53
' 34
97
30
105
61
51
3S
69
12
123
59
85
70 Vi
S5V,
89
loo
64
47
13
f TEN.T Bay
IPAYMENTI
Month
BIG UPTURN IN WHEAT
EXPORT PURCHASES SAID
BE 5,000,000 BUSHELS.
TO
Bulges in Rye and Corn
Strength of 3Iarket
Cbicaso.
Add to
at
1.700
2, 700
l.o no
1.000
7,L''0
9,100
3 5.7O0
1.00O
l.LNMJ
S00
WU.y-Overld. 1S,70
BONDS.
U R Lib Stts. . .00.2e;AnKlo-Fr 5s 100
do ISt 4S .... n--o-1 A J : I CV OS. .
do 2d 4s . Ho.56.Atch gen 4s.... 7
do 1st 4i. ..bU.81! 1 & R G con 4s. 65
do 2d 4 J' s. . . H5.7S N Y C deb 6n. . 2 H
do 3d 4'4s. . .88.86 X P 4a 7.rVj
do 4th 4 B. .85.9U.N P 3s 54
Victory Sb . . .OS.iVO'Pac T & T 5s. . 85
do 4a 5.54;Pa Con 44s....88
U S 2s reg. 101 S P cv 5a 100
do coupon .,iui 4io v os
U S 4s reg 105;U P 4s 80 St
do coupon ..105K jU S Steei Cs. ... 91
Pan 3s reg 77 I
do coupon ...7 i "Hid.
m.t Boston.
Closing- quotations:
Mining Stok
BOSTON. Sept. 22.
Allouez 22 (North Butte ... 15
Ariz Com 10 Old Dora 2ft
Oalu & Ariz ... AO (Osceola SH
Calu fe Hecla..280 IQuincy 48
Centennial .... 1 0 4 Superior 4 V
Cop Ran pre .... 34 Sup & Boston.. 3i
t.n-l ttuiie ... iunivinon
l-'ranklln 2 Vi ,3hannon' 1M
Isle Royalle ... 27 U tah Con 7 4
Lake Copper... 8 ! Wolverine 13
Mohawk M I
CHICAGO, Sept. 22. Big export busi
ness in wheat led to sharp upturns today
in the wheat market. Foreign buying; of
corn was noted. Wheat closed strong, 3Vi
4V6c net higher, with December $2.36
to 92.36 anri March $2.30. Corn finished
unchanged to 12c up and oats gained
c. In provisions the outcome ranged
from 25c decline to 80c advance.
Estimates of the amount of wheat taken
for Kurope during the last 24 hours ran
as high as 6,000.000 bushels, and bulls
nearly had things their own way after the
announcement. Earlier the market showed
weakness, owing to continued heavy re
ceipts at Winnipeg and to slashing of
prices of automobiles and cotton. On the
other hand, a sudden Jump of 18 cents
in the rye market tended to increase late
strength of wheat.
Shorts In the September delivery of corn
became flurried 'over scarcity of offerings.
As a result of ensuing competition the
September price ran up at one time nearly
14 cents.
Oats sympathized with strength of other
grain.
In the provisions market the lixegularltj
of the result was explained by two oppos
ing factose the weakness o hog price
and the advance of cereals.
The fhiearo market Vetter received yes
terday by Overbeck. & Cooke company of
Portland said:
Wheat Lowest prices were mad during
the first rmlf hour of trading and irora
then on there was an exceptionally strong
market, with active buying of futures by
the seaboard the reature. Estimates on
the amount of whit sold late yeeterday
snd todav to foreirners raneed as high a
5,000.000 bushels. Receipts were small and
the cash market had no difficulty in fol
low In ir the advance Hi futures, although
premiums remained unchanged. Country
offerings continue small. The buying for
export today was a complete reversal and
even aKowing for the usual exaggeration
It cannot be ignored and th-e course of.
prices lor the immediate future will de
pend entirely upon w hither or not the
8&a reported will prov to be a forerunner
of an aggressive buying movement by for
eigners. (
- Corn It was the most erratic arwl be
fuddling market seen in many a day. Sep
tember shorts t ried to cover and found
offerings so light that it was necessary
to bid prices up as much a-s 14 cents before
the oiose. At the samte time the deferred
months, while also meeting short cover
ing, failed to hold the advances and
closed with practically no change in prices.
Country offerings continued large and pur
chaws were re-ported made in Xowa at 15
ceoits pr bushel and in Illinois at l
Oat The extreme activity of other
gra-tns detracted attention from .this cereal
and the market simply trailed along, clos
ing fractionally higher. Cash oats sold on
the fanre basis as yesterday at (lc un-d-er
December for No. 2 white and l2c
aiacount tor .No. 3.
Rye The tight situation in Septerniber
ERsenefl uaen louay in a semi-sensacionaj
advance of over 20 wnu from th low
point. December did not fully reflect the
advance in Se-pt-mCber, but hAd a strong
tone and closed around the top prices.
Provisiotie Scattered liquidation with
limited support caused an easier fae-ling
eariy and aJtnougn tne market later ral
lied on some buying by local packers, the
cloee was not particularly strong. We still
believe it is lndaviable to own products.
jjeading future!" ranged as follows:
WH ETA T.
High. LrOW.
82.37 $2 28
2 30 2.23
CORN. . .
1.37 1.22
l.o 1.05
ja i a.
Are Stocks Headed
Up or Down?
After a decline in security
prices extending over a pe
riod of nearly a year, due to
industrial deflation, it is of
interest to know whether the
downward movement has
culminated, or whether the
strong rally which has re
cently taken place represents
a bulge preparatory to a
further decline.
In view of the extreme im
portance of this question, we
have attempted to indicate
the probable trend of the
market over the balance of
the year in an editorial ap
pearing in our current
Market Review.
This publication, which cur
rently discusses developments
in industrial, oil and mining
companies, will be sent to
anyone free upon requst.
Ask Jot PC-5X
E. M. Fuller & Co.
M.mtwr. of
CnaMMl Btook Inban If. T.
SO Bread St.. Naw York.
N.W York NotvI
(Dirict Prtvatt WlrtA
u
An Attractive Investment
i .. at,
Cash barley 73 78c; cash flax. No. 1. $3 20
Foreign Grain Markets.
BTTENOS AYKES. Sept. 22. Wheat. 5c
lower. Corn. 1 a lower. Oata, unchanged.
ANTWERP. Sept.
unchanged.
i. -Grain markets
)f w lis '.J1.1 . - ..... . T:T -
Panorama of the City of Edmonton
We offer snbject to prior sale and tkun In price, $ 75,000 General Obligation
' bald Note.
CITY of E
DMONTON
Exempt
From Dom
inion Gov't
Tax.
Alberta, Canada
! 9 YIELD 1
Exempt
From Dom
inion Gov't
Tax.
. Denominations $100, $500 and $1000
FINANCIAL STATEMENT
Assessed valuation SS6.605.715.C0
Value municipal property (not including public utilities) 11,035.376.00
Net debenture debt 9.44S.997.00
Revenue from public utilities (above cost of operation)...... 767,773.00
Net local improvement debt 3,046,763.00
In addition to beinp General Obligation Notes, these are
secured by long-time debentures totaling 12.594,420.00.
Surrounded by some of the most productive farming land in the west, adja
cent to an unlimited supply of lignite coal, served by three transcontinental
and several local railway lines. Edmonton will remain an important Indus
trial. Agricultural and Railway center.
Dated September 1, 1920
MATT'RITIES AS FOLLOWS!
2.V),000 Due Sept. 1, 102; Price &4.62
tSAO.mtO Due Sept. 1, 1923; Price D2.2S;
V1-11 O'-c
f2.-ul.ooo Due Sept. 1, 124; Price SOJl
v 1 leld '.
Principal and semi-annual interest
(March 1st and September 1st) pay
able in Gold Coin of the United
States in New York and at the of
fices of Morris Brothers, Inc.
LIVERPOOL.
2 Ho lower.
8pt. 22. Com opened
WINNIPEO. Sent. 22--Whe.t. r.lo.d.
October. 2.5U: March. December.
tZ.A.1. Oata, October, 7aHc; December,
etsic; My, 11 Vc Barley, December,
Grain at San Franci.ro.
SAN FRANCISCO. Sept. 22. Grain
Wheat, .3503.75; barley, t2.202.30:
oat., 2.402.75.
Hay Wheat, fancy. S26028: ll.ht five-
wire bale., $3'25; tame oata, 9'J3)25';
wild oat., SlilO; barley, $1720; al
falfa, second cutting, $21425.
Seattle Grain Market.
MORRIS BROTHERS, Inc.
Portland, Or.
Morris Building
309-11 Stark Street
"The Premier Municipal Bond House"
Established Over a Quarter Century.
Capital Over Million Dollars.
Merchants National Bank Bldg., San Francisco, CaL
Seattle, Wash.,
No. 3 Central Bldg.
Telephone or Telegrraph Orders at Our Expense
SEATTLE, Spt. 2J. Wheat, hard white
and hard winter. $2.50; soft whit, white
ciub and red winter, $'2.42; northern iprlng.
red Walla, fll.30; eastern Walla,
1 40; Biff Bend bluestem, 2.60.
Feed Scratch feed, 1S2 per ton: 'feed
wheat, S3; all grain chop, TO; oata, SC3;
sprouting oats, $07; rolled oata, $65; whole
corn, $78; cracked corn, J75; rolled bar
ley, 63; clipped barley, ttti.
Hay Alfalfa. $30 per ton; double eom-
pret-aed alfalfa, $26; ditto timothy,. 42;
eastern Washington mixed, $3ft.
Metal Market.
KKW YORK- Sept. 22. Conner ear.
Electrolytic, apot and .uearby lbWiaiHc:
fourth quarter, 19c.
Iron steady, unchanged.
Tin steady. Spot and nearby- unchanged.
Futures 44.50c.
Antimony unchanged.
Lead quiet, unchanged.
Zinc ateady. Eaat St. Louis deUverv.
spot 7.75c.
Eastern Dairy Prod nee.
CHICAGO. Sppt. 22. Buttar hlchar
Creamery 43 57 Sc. Bkks unchanged; re
ceipts TJ.V1 A;ases.
NEW YORK, Sept. 22. Butter firm;
creamery higher than extras 62g'tt:: 14 ;
creamery extras 61&6lHc; first 62 !f tfO c
Kees firm. Fresh gathered xtra firats,
SlfiwUHc: firsts. S76lM- uruod
Changed.
Naval Stores.
SAVANNAH, Oa., Sept. 22. Turpentine
steady, $1.36Va. Sales none. Receipts $u.95;
shipments t0 ; stock 14,110.
Kosin firm ; sales 777; receipts 1931 :
shipments 442; stork 47,610. Quote: B D
K. F. G. H, I, K, M, N, WG, $11.60; WW.
$11.70.
, New York Sugar Market.
NBW YORK, Sept. 22. Raw ruR0.r
sieaay; centniugai, iu.7S; relmed, steady
line granulated; $14.50.
Cotton Market.
.rNeivr iuku, sept. spot cotton
qujeu JHiaaiing, au.ouc.
sown, mostly on summer fallow. The soil
In generally amply moist and wheat is ger
mirating quickly. Corn Is maturing fairly
wei'., and silos are being filled.
"Prunes suffered considerable dam ape In
places from- rain, and many prunes, apples
and pears were blown from the trees. The
damage from wind was perloua in Doug
las county. Picking and drying of prunes
la progressing. Fresh prunes are being
shipped from eastern counties. Early ap
ples are being gathered In quantities. Pick
ing of pears continues. Picking of cran
beirits la under way.
"Late potatoes are still growing. Tagging
of potatoes Is progressing slowly. Tomatoes
and melons are plentiful. Kale is doing
well Hops were injured somewhat by rain;
picking of hops Is pra-ctically complete.
Haying was delayed by rain, some nay
wa discolored. and some clover seed
spoiled. Cutting of the second crop of
alfalfa .continues In the elevated districts.
and cutting of the third crop ia In progress
in northern and eastern counties. In some
sections meadows are being used for pas
ture. Threshing or clover seed has oegun.
Ranges are still dry in some southern and
central localities, but are generally Im
proving. With few exceptions stock is do
in well."
Kansas City Livestock Market.
KANSAS CITY. Mo., Sept. 22. Cattle
Receipts. 14,000. Beef steers generally
weak to 50c lower, class poor, few best
steady ; top $17.50 ; fat cows and heifers
re
Maxch . .
3(pt.
Dec
Open.
2.24
1.23
1.04
C!o.
$2 36 14
2. SO
1.W4
Good to choice steers 7.7."(&! 8.75
Medium to good steers 67.". 7.75
rair 10- goo a steers .
Common to fair steers 5.75 6.2-5
Choice cows and heifers 6.75 7 5
Good to choice cows, heifers.. 5.75(9) 6.75
Fair to medium cows, heifers. 3.7.i 4.75
maimers -. t ri (CP 3
Bulls 5 llnf 6.00
Choice dairy calves 13.00 15.00
J'nme ugnt calves 11.3013.00
Medium light calves 9.00 ii.no
Heavy calves 7.00 o.OQ
Best feeders G.50& 6 06
Hogs
Prime mixed lft.5OiSr2O.00
Medium mixed . . 10.0010.50
Smooth heavy J7.501S.OO
Rough heavy 15.00 17 M
Pigs 14.506 18.00
Sheep
Prime lamba ft. 50 10.50
Cull lambs 6.00 8.50
Yearliiifta .50.tp 7.r0
Wethers ; tt.0ust 6.50
Ewes 2.2o0 6.00
Chicago Livestock Market.
CHICAGO. Sept. 22. Cattle Receipts.
11.000. market very dull; opening sales
best steers and yearlings about steady,
$16.0017.50; grassy kinds weak and un
even, mostly $'J14.50; bologna bulls, $6ip
6.75; canners, $4.25 4. 75 : steady ; other
she stock lower, mostly $6.5n 12 ; calves
slow to lower ; bulk choice, $16.75Q 17.50;
grassy calves draggy, $6,500-11.50; stock -ers
and feeders about steady ; western
receipts, aooo; market opened weak.
Hogs Reripts, 1 1.000; uneven, 35c to
50c lower than yesterday's average. Top
early. $17.A5; bulk Upht and butchers.
$ltt.M9ri i-o; duik packlug sows, $15.60G
15.00; pigs 25c lower.
Sheep Receipts, 23,000, verr slow;
packers bidding unevenly lower; good
native lamns soia meaium. $il'rf 12
best range Iambs held around 113.75; feed
ers, steady; good lambs sold $13.40.
Omaha Livestock Market,
OMAHA, Sept. 22. Hogs Receipts. 4000,
mostly 25c to R5c lower; bulk medium
and light butchers. $18.25(16.75: top $17;
bulk, strong weight and packing grades,
$16 16.25.
Cattle Receipts. 10.000, fed cattle slow.
best early sale, $16.50; grass steers and
butcher cattle weak to 25c lower: bulls
and veals steady ; etockers and feeders
steady to 25c lower.
Sheep Receipts, 25.0O0. few early sales;
lambs 25c lower; best early sale, $13.20;
sheep weak; best ewes. $6.20; feeders 15c
to 25o lower; best sal feeding lambs, Il3.
Money, Exchange. "Etc
NEW YORK, Sept. 22. Prime mercan
tile paper, unchanged.
Exchange, irregular. Sterling, demand.
$3.47 l cables. $3 48. Sterling advanced
strongiy in the late dealings; demand.
ber contracted for a V- - ton Republic
$3.48 ; cables. $3.41H- Francs, demand,
6 68; cables, 6.70. Belgian francs, de
mand, 7.05; cables, 7.0". Guilders, de
mand, 30.87; cables, 31. Lire, demand,
4.30; cables, 4.32. Marks, demand, 1.63;
cables. 1.64.
New York exchange on Montreal, 9
per cent discounts.
Government bond, Irregular.
Time loans, strong, unchanged.
Call money, steady; high, 7 per cent;
low, 7 per cent ; ruling rate, 7 per cent;
closing bid, 6 per cent; offered at 7 per
cent ; last loan, 7 per cent.
Bar silver, domestic, unchanged; for
eign, P4c.
Mexican dollars, unchanged.
LONDON, Sept. 22. Bar silver, 60d per
ounce. 4
Money and discount, unchanged.
8wlft & Co. Stocks.
Closin prices of Swift & Co. stocks a(
Chicago were reporued by Overbeck &
Cooke Co. of Portland aa follows:
Pwift & Co 100
Swift International 3
ibby. McNeill & Llbby
National Leather 10
SAN FRANCISCO PRODUCE MARKET
1 1 -
Prices Current on Vegetables, Fresh Fruits,
etc., at Bay City.
SAN FRANCISCO, Sept. 22. Butter-
Extra grade. 6t;c; prime firsts, 6le.
Eggs Fresh pullets. 74c; dirties. No.
1, totic; extra pullets, 64 Vic; undersized, 40c.
Cheese Flats, fancy, 3tiVc; firsts, 26c;
young America, 36c.
Vegetables Eggplant, lug, 60 75c; cum
mer squash, 5o&U0c; potatoes, street
prices, river, $2.652.75; sweets, 44c;
onions, yellow and white, lMc$l; central
Australian brown. $1 'a 1.15; beans. 7 fd
13c: bell peppers. fi665c; cucumbers,
75c)l : eelery, crate, $4 5; green corn,
sack. $22.50; peas, 12Hl!e; tomatoes.
Dec. . .
May. .
Oct. . .
Oct . . .
Jan. . .
.62 .
MEXS3 PORK.
24.75 24.35
LARD.
W 20.25 10 67
17.&0
SHORT RLBS.
16, 0O
.Rft
.63
94.75
24.73
19 ft
1-8.20
IT.IO
17.10
red.
No. 2
Seot
Oct 17.10 17.30
Cash prices were:
Wheat No. 1 red, $2.56; No.
$2 65; No.: 1 hard, $2.45H ff2.50.
Corn sio. 2 mixed, $1.24 1.29
yellow, ii.28tri.3i.
Oats No. 2 whit, 583c; No. 3 whlU,
57s5Hc.
Rye No. 2, $1.02 LOU.
. Barley SO'gyftc.
Timothy seed $6flT.60.
Clover aeed $18 25.
Pork Nominal.
Lard. $10.95.
Ribs $17.12 017.87.
e Fa stem Grain Markets.
KANSAS. CITY. Sept. 22. Wheat,
cloned December, $2.314; March. $2.5.
Co-n. May. 1M Vc : December, 9Sc. Oata
September, &ac ; December, o Vic. Corn,
ST. LOUIS. S-pt. 22. Corn, closed May,
91.05: December, , $1.05: September,
$1 .22, Oat p. September. 5Kc: Decern ber.
50c Wheat. December, $2.37 A; March,
$2.30.
Dried Fniit at New York.
NEW YORK. Sept. 22. Evaporated .
plea, dull. Prunes, firm. Peaches, steady.
FULL PLOWING GENERAL
GOOD ACREAGE OF WHEAT IS
ALREADY SOWN.
steady to easy: Quality plain: canners and
bulls steady; veal calves steady; others
weak to 50c lower; top vealers, $15.50;
good heavy cows, $910; etockers and
feeders steady to 25c lowr.
Hogs Receipts 30(H). Very uneven, gen
erally 25 to 4Qc lower than yesterday's
average: top $17.25; bulk light and
medium. $17 4r 17.20; heavy, $16,50 617.
Sheep Receipts 18,0(Wt; slow theep
steady ; w eat em ewes, $5.50 ; fat lambs,
$15.25; top natives. 12.f(; western arly,
$ 1 3 3.' ; best held higher; feeding lambs
rtrtipcy.
One of the West's finest paper
mills with contracts for capacity
production at the highest prices
in paper-making history
Early Apple Crop Is Being Har
vested; Picking of Pears Contin
ues; Prune Drying U ruler Way, '
Crop conditions In Oregon are reported
for the week by the weather bureau as
follows:
"Harvest and threshing were delayed by
rain, and there la still some grain standing
In the field. Some . standing and stacked
wheat was Injured by rain. High winds
caused some corn to lodge and scattered
scmo shocked corn. Plowing for winter
wheat, is becoming more general. In some
of the principal wheat-growing counties
a considerable acreage of wheat has been
Taxes for the
Coming Year
TAXES will probably
be 25 higher next
year. There is a way of
protecting yourself
against this increase in
new leases. Do your new
leases take this into con
sideration? Our service to property
owners anticipates the
future as well as takes
care of present condi
tions. We hianage and develop
property.
Strong 8 ftacNauhton
PORTLAND JIOHBLTT V""tv'wr'
INSURANCE
WE WRITE ALL LINES
C. De Young & Co.
Main 7351
l
810 Spalding Bldg.
$600,000 of preferred stock secured by properties
that actually cost $1,500,000.
s
Cumulative Preferred Stock
Oregon Pulp &
Paper Company
Less than $200,000 of preferred is available.
AH the common, $900,000, and $400,000 pre
ferred has been privately subscribed all at par.
Price 100
Par Value of Stock $100
DIVIDENDS PAYABLE MONTHLY
Me
A V
nasiisHfiisLo.
UifcdarSnpervtSlo Oregon Sa
Lumbermen s Building
ncLUTH,
3.1!9. .
Sept. 22. Linseed, J3.21
MINNEAPOLIS. Sept. 22. Wheat, closed.
Ppcember. $2.36. Oats. December, 5c;
HeptembPr. 53'3r. FIax. S"ptomber, $30.
Unlisted Stocks
If you wish to buy or sell any kind
of stock we-will be grlad to execute
your order if the stock has any
value,
IJBERTY BONDS
AT N. Y. MARKET
flERRIN'sRHQDESiNf.
ESTABLISHED leM.
STOCKS and BONDSj
Railway Excbance Bids;. Mb. 283.
Private Wtrea to All Exchanges
We own and offer
$100,000
City of
PORTLAND
6 Improvement
Call or Phone. ' j
M v NORTHWESTERN BANK B4.D0. I
A Safe Investment
' The way the public has subscribed to this issue of our stock
has been both a pleasure and gratification to us. It could-'
not be expected that as safe an investment as we are offer
ing, and one that shows such etrong indications of paying
from 25- to 50 every year, would remain on the market
' very long. Investigate this today.
When an established concern like this tells you that every foliar
subscribed for its stock, aside from the actual cost of raising the
money, will be used to enlarge their plant, add new and productive
lines to those already established, it shows on its face that it- is a
good investment.
When you stop and think that nearly every cannery on the coast
is closed on account of poor market conditions, and that we are way
behind in our orders at a price that will net us from 100 to 150
on our pack, it stands that we must be a progressive firm. Our method
of packing is entirely different and we have created a splendid de
mand for it. In order to take full advantage of the opportunity and
the market we must at once greatly increase our output by increas
ing our packing facilities. While our boat line, general store, hotel
and cannery are all showing a profit, the profits alone are not suffi
cient at this time to care for this rapid expansion we are making.
For this reason we offer the public a small block of our stock at 15c
a share. You can invest any sum from $30 up. Stock all alike, all
non-assessable. No bonds or mortgages. No salary to officers.
Capital $100,000. Send fat once for our illustrated circular that gives
full particulars about the company and its products.
Queets Trading Co., Hoquiam, Wash.
Argentine Government
4 EXTERNAL STERLING LOANS
Coupon bonds in denominations of 1000, 500, 200, 100, 20
Principal and Interest payable in sterling in London, or may
be collected through our office
Redeemable not later than 1956 by a Cumulative Sinking Fund
Direct general external obligation of the Argentine
Government
Argentine, next to Brazil, is the largest country in South
America and from the standpoint of climate and soil is said to
present the most nearly perfect area that the world contains
for the production of wheat, oats, corn and meat products.
Evidence of this is seen in the rapid growth in the cultivated
area of the country which has increased in twenty years from
about 13,700,000 acres to 57,000,000 acres, and in the last
eight years the national wealth has increased from 9,820,000,
000 o 13,865,000,000 United States dollars. Population in
' 1904 was 5,190.000, which has since increased to 9,300,000, or
about 80. Its per capita wealth is estimated at about $1500;
its per capita debt about $83.
Price and Complete Details on Application
Approximate Yield
At Current Rate of Exchange Ia
7.20 to 16.25
Dependent Upon Date of Redemption
Increase in Sterling Exchange Will Increase Yield
Proportionately
Ralph Schneeloch Company
MUNIC3P.JuV.ANr CORPORATION STKANCB
POHTXJtNrr.OREGOI