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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 25, 1921)
THE MORXIXG OREGOXIAN, TUESDAY, -..JANUARY 2Z, 1921 1!) IF MARKET TREND held mmm Recent Improvement Is Not Maintained. PRICES HAVE EASIER TONE 3fo Material Gains Eipected Tntll 1'orclgn Leather Trade Is Re turned la Volume. Rld dealers are keenly disappointed In ths failure of the market to maintain Its recent Improvement. In all sections price have an easy undertone. Quotations here have not been chanced however, ex cept that winter stock la selling at the usual discount as compared with summer bides. There Is Very little movement In the astern markets and none la expected until the foreign policy has been settled so that tanners can sell thetr leather to Europe. Tariff changes are not considered as so much of a factor by dealers. It la worth noting that the east is well cleaned up n good packer hides, as shown by the lata buying of December and January hides. What good stock remains unsold appears to be in strong hands. Local dealers are not buying now and holders also seem disposed to keep out oi the market. Calf skin prices are unchanged locally at 12 cents for cities, but the eastern mar ket, dealers say, does not warrant pay ing these prices. Seporta indicate that a somewhat bet ter demand has developed In the east for ahoe leathers, both sole and upper. Shoe manufacturera are gradually resuming op erations and are buying some material. Uusineas is still far short of what may be termed even active, but signs of actual improvement are more numerous in all quarters. Sole leather Is not active, but conditions are gradually Improving East- am advices note a little more trading in dry hide hemlock, although business In this line is still slow. Best tannages of dry hide sides are still nominally held up to 35 and Stic, as a basis for overweight f'rsts, with some holders asking even high r prices. Due Quotations continue more or less unestablished and damaged heavy leather which cuts to satisfaction with shoe manufacturers is obtainable down -to 25 to 2tt cents. Union sole is also said to be showing some improvement, but a range of prices is still heard extending from 45 to 50 cents, and even higher for cow backs, tannery run. with steer backs said to be worth more money. SIOKE LSQLIKV IX WHEAT MARKET Bids Are Again Advanced at Local Ex change Session. Eomewhat more business has developed In the wheat market in the past two days as a result of the higher prices. Hard white, soft white and club bids were raised 3 cents at the Merchants- Exchange yesterday and hard winter was up 2 cents. Northern spring and red wheat were unchanged. The coarse grains were generally steady and there was a moderate amount of trading in spot corn. One feature of the strength of the east ern market waa the Improvement in the flour trade, Minneapolis reporting the beat demand in months. France was reported to have asked for offers on 800. (KM) bushels of wheat. Argentine cables said possibly nothing will be done on the wheat tax for six weeks.- The exportable surplus of the new corn crop is 240.000,000 bushels. lermtnal receipts, in cars, were reported y tne Merchants' Exchange as follows: Portland Wht. Brly. Fir. Oats. Hay aionaay towns. tl.S5 9 2.85; pears. Winter NelUs, nominal: bananas, 8 98 Vic Receipts Flour, oS'.S quarters; wheat. 000 sacks; barley, 2786 centals; beans. 2787 sacks: corn. 1600 centals: potatoes. 8164 sacks: onions. 16 sacks: hay, 13 tons; hides, 126 rolls; lemons .and oranges. sou boxes. Jobbers Reduce Sugar Prices. A Jobbers' decline of 25 cents a hundred In sugar prices took effect yesterday, making the local quotation on cane gran ulated 18.30. The differential between cane and beet lurir has been reduced to 10 cents. Bank Clearings. Bank clearings of the Northwestern cities yesterday were as follows: . leannfrs. naiancc. Portland I5.215.Jil Il.620.Ml Seattle 5,05S.131 a.'?f- Tacoma 515.77S 'ii'!!?? Spokane 1,2S6.3S7 888.. 45 PORTLAND MARKET QUOTATIONS. Grain.' Flour. Feed. Etc. Merchants' Exchange, noon session: liiu- STOCK 1IET CHEERFUL PRICES XOT AFFECTED BY IN DUSTRIAL AFFAIRS. Wheat Ja-n. Hard white 1 65 Soft white 1 -3 WhitA clllh 11.1 Hard winter 1.57 Northern spring ... 1-58 Red Walla 1.55 Oats No. 2. white feed .. 34.00 No. 2 gray 32.00 Barley Brewing 34.00 Standard feed S-M Millrun 33.50 Corn- No. 3. B. T. shipment 30.00 Feb. t 1.65 1.63 1.64 1.57 1.58 1.55 34 00 32.00 83.50 30.00 83.50 Mar. t 1.66 1.63 1.64 1.57 1.58 1.55 34.50 32.00 33.50 28.00 33.00 81.00 31.00 1TT.TII7R ITamflv natents. 110.20: baKers hard wheat, 9.50; bakers' blucstem pat ent. 8: vallev natents. $7.10; whole mhpot IK An er-him 8.45. M1LLFEED Pricea f. o. b. mill. Mill run, $36 per ton; rolled barley, 143946; rolled oats, $44; scratch feed, $60 per ton. CORN Whole, cracked. $5 pet HAT Buying prices, f. n. b. Portland: Alfalfa, $20 per ton; cheat. $22&23: clover. $20; va. ley timothy, $2728; east ern Oregon timothy, $30. Dairy and Country Produce. BUTTER Cubes, extras, 40c per pound; prints. parchment wrapped, in box lots. 45c per lb.; cartons. 46c: butterfat. buying price, 363c pound at stations; A grade, 43c; B grade, 41c; Portland de livery. . A. EGOS Buying prices, case count, 47c delivered; Jobbing . price to retailers, camllrrt ranch, 50c; selects, 53c CHEESE TIllamooK triplets. price is Jobbers, f. o. b. Tillamook. 30c Gains Registered by Most Classes, but Firmer Call Money Rates JLater Induce Selling. NEW TORK, Jan. 24. Developments over the week-end recess were far from stimulating, especially in industrial condi tions, but today's stock market denoted a more cheerful tone, although operations were light. The most encouraging inci dent of the session wan fh success of the Belgian $30,000,000 loan. fateels and equipments, which, were ex pected to yield to adverse advices recived from Pnnsylvanla and Ohio centers, were comparatively strong, and motors, ship pings and rails also improved with oils, to baccos and food issues. Gross gains of one to seven points were retained until the final hour, when selling, Induced by the stiffer trend of call money, provoked a-enpral nrnff, tnirtno- M.Tlcnii p,'rel. Crucible Steel. General Asphalt and American International were most sus ceptible, declining one to 4 Vs points with - scuerai cancellation of gains elsewhere, bales amounted to 500.000 shares. Among the few stocks to withstand pressure and close at advances were Stude Daker and several of the less prominent rails and equipments. United States Steel, alter moving in a fractional radius, fin ished unchanged. Aside from its moderate Irregularity on a siignt accession of business the bond market, including liberty issues and for !ir. offerings, was featureless. Total sales, paj. value. jii.650.000. Old United on Sllg0Vernment bonl3 were nchSe CLOSING STOCK QUOTATIONS. Baies. Higa, Low. l.ooo 47 45 i ooo 9,400 6110 ranch, white shells. 53e: pallets, 4Te. Butter City creamery, in cubes, 44c: bricks or prints. 4."c. seconds, in cubes. 41c; bricks. 42c: country creamery extras, cost to Jobbers in cubes. 41o; storage nominal. NEW YORK, Jan. 24. Butter weak, - celnts flflos rrMinm hfrher than extras, 50ifii50c: creamery extras. 92 score, 48 484c. Eggs Weak; receipts. 10,037. Fresh gathered extra firsts, 6364c; firsts, 61 &62e. Cheese Steadv; receipts. 476. " State whole milk flats held specials, 26329c. Hops, Etc., at New York. NEW YORK, Jan. 24. Hops, dull; state, 1920, 4045c; 1919. 288:30c; Pacifio coast, 1920, 31635c; 1919, 2g31c Tallow, quiet; special loose, New York Silver. NEW YORK. Jan. 24. Bar silver, do mestic, 99 Vie; foreign, 66c T WHEAT REQUIREMENTS EX CEED SCPPIJT AVAILABLE. Am Beet Bug American Can Am Car & Fdy Am H & L pfd Am lnier Corp American Loco Am Smt A Rfg American Sug Am i?um Tob Am Tel Tel Ameri Woolen Am Z L & S Anaconda Cop Atchison .... Atl Gf & W In Woo 600 2o0 1,700 2.100 lOO 2.4(H) 700 6o0 POULTRY Hens, 204'32c; springs, 24 30c; ducks. 2540c; geese, 32c; luraey live, nominal; turkeys, dressed, nominal. PORK Fancy, loc per pouna. VEAL Fancy, lhVic per pound. Fruits and Vegetables. FRtTIT Oranees. navehj. $3.5005; lem ons. $3.7504.15 oox; grapeiruit, owo.. per box; bananas, 12V4&13V4C per pound grapes. $4.50 lug; apples, $1.353.2o per box. VEGETABLES Cabbage, ll2Vio per nound: lettuce. 3.50i3 75 per crate; car rot. 1.50fc.2 liar sack: CarliC. 2U beets, $2 per sack; cauliflower, $2,2543.75 per crate; celery, $5(i5.25 per crate; green peppers, 25fei30c per pound; sprouts, 17Vic oer Dound: numnklns. liVic per pound rhubarb, 20c per pound; spinach, $2.25 per hnx: turnins. 2.50 ner aack. POTATOES Oregon, $1.60 165 per 100 pounds; Yakima, $2i&2.2j; sweet poiaioee, Si. in. If. Tier nnund. 3.50 ner hamper. ONIONS Oregon. $1.50 per sack. Cali fornia brown, $1.50131.75 per sack. Staple Groceries. T.twAl tnhhlnr nuotattons: SUGAR Sack basis: Cane granulated. 8.3('c Der Dound: beet. 8.200 pur pound. NUTS Walnuts. 222Sc; Brazil nuts. 35c; Iilberts, 21 If 25c; almonds, 266130c, peanuts, u3f14c per pound; cocoanuts, $2 per dozen; pecans, 32035c; chestnuts, 25 fiilCjc Dnund. RICE Blue Rose, 9Hc per pound; Ja pan style, 7 He per pound. ifEANS Small white. Be: large white, 6c: pink. 7ltc; lima. IVc; bayou. 12fec; ri.il 7 1A f ner unnnd. COFFEE Roasted, bulk, drums, 1436c ner nnund SALT Granulated, bales, $35004.25; naif ground, ton, 5Us, $19.75; luos. $18.2o; lump rock. $26.50. Tear ago ., eeaaun to da Tear ago . Tacoma Saturday .. Year ago . , Season to date aear ago .... Seattle Saturday .... Year ago .... Season to date Year ago .... Astoria To date .... Year age .... 90 1 2 2 21 52 5 88 1 2 10.010 178 50 842 13!I9 5635 161 2577 3i 1130 9 ... T 2 14 25 . . . 23 - 31 S3 47 619 84 621 44S2, 68 1755 136 606 34 ... 4 ... 5 13 ... 3 ... 12 3341 177 232 298 1052 4229 212 4S3 510 936 811 1 17 20 81 760 2 3 DANISH BUTTER UNSETTLES TRADE at Foreigners Blake Further Offerings Still Lower Frices. There wss a slightly firmer tone In eastern butter markets at the close of the past week. January is often a dull montn in the butter business and sometimes has heavy declines, but due to the December decline this year, many thought it would be an exception. Weakness the past week was due almost entirely to Danish butter. The Frederick VlII's cargo was offered down to 49V4C or nearly 2c under domes tic extras. New lots were also offered, to arrive, as low ss 42c c. I. t. Danish buyers evidently supported New York. The cosing tone or all markets was slightly firmer. Some 5000 boxes of Argentine butter eo!d at New York for shipment to Canada for English markets around 31c Chicaso declined 21ic, Philadelphia lfcc. and New York lc for the week. The San Francisco market remained barely steady with slight fluctuations of not over He Due to the unstable condi tion of the eastern markets, there was some slackening of outside Inquiries. Al though the Danish butter coming into New York has demoralized all markets 'to some extent, dealers here contend jhat fresh California butter will continue to find an outlet in the east to fill the demand of the fancy trade, which insists on the finest quality. Production at present is quite heavy and the quality the best, so dealers are confident of a good outside demand tip until the flush season. REACTION EXPECTED IN BITTER 'Buying and Selling Trices of Eggs Are Agaiu Reduced. Although cube butter wss very slow yesterday, and sellers found It dif ficult to get 40 cents for extras, the opinion prevailed that favorable reaction in due soon, as the reopening of the condenseries will solve the problem of the market surplus. Eggs were weak and tending lower. There were resales on the street at 4$ cents and cash buyers paid 47 cents to country shippers. The net delivery price will be reduced to 45 cents today by some of the buyers. market was steidy with Dressed veal was firmer out tne oemana for pork The poultry light receipts, at 18 H cents, was slower. Provisions. HAMS All sizes. 291 33c; skinned. 26 32c; picnics, 20c BACON Fancy. 4047c; choice, SOejazo taniliird. 25(is27c LARD Pure; tierces, 18 Mo pouna; com pound, tierces, J3ftc DRY. SALT Backs, 212ic; plates ik ISC Hides, Pelts, Etc TTTDTES Salt hides, all weights, 6c pel pound, green hides, all weights, Sc; salt bull.all weights, 5c; green bulls, 4c; calf skins, green or tz'.:. l!f: kip skins, green or salt, 8c; dry hides. 12c; dry salt hides. Be: drv caif. 15c Above prices for coun try hides and skins. Prices for city skint and hides follow: Calf skins. 12c per pound; kip skins, 9c; city packer hides, green, 6c PELTS Salt pelts, full wool, country. 35c05Oc; packers, 5060c each; dry ong wool pelts, fine, Tc pound; dry long wool pelts, medium. 6c; dry long wool pelts coarse. 4c. TALLOW No. 1, 8c: No. 2, 4o pound. CASCARA BARK 1920 peel, 8o pound HOPS 1920 crop, choice. 24-9253 pound. WOOL Local market based on eastern scoured values as follows: Eastern Ore gon No. 1 staple, 80c; eastern Oregon clothing, 6065c; Valley No. 1, 65c pei pound. MOHAIR Nominal. Oils. LINSEED OIL Raw, its barrels, $101: drums, $1.08; cases. $1.13. Boiled, In bar rels. $1.03; drums. $1.10; cases, $1.18. TURPENTINE in tanas, 11.21; cases, $1.36. COAL oil Tame warons ana iron par rels. 17 ftc; cases, wiwjic. FUEL OIL Bulk, 2.3j per barrel. GASOLINE Tank wagons and iron bar rels, 29c; cases 4 10. Naval Stores. SAVANNAH. Ga,, Jan. 24. Turpentine, quiet, 92c Sales, none; receipts, 1 bar rel; shipments, 228 barrels; stock, 15,083 barrels. Rosin, quiet. No sales: receipts. 7 bar rels; shipments, 205 barrels; stock, 83.809 barrels. Quote: B, D, E. F, G, H. I, K, M, N. WO. WW. tU. Dried Fruit at New York. NEW YORK, Jan. 24. Evaporated ap ples, neglected, Calif orniaa, 7febc; state, 10c Prunes, steady; Californias, 417c; Ore gons, lie 14 He. Peaches, inactive; standard, 16c; choice, ISc; fancy, iuu-21c I 5 , , m LiOCO 12.300 I "" a onio Kethle Rtffl n But Sup Cop Cal Petroleum Canadian Pacif Centrl Leather Chandler Jltrs Ches A Ohio Chi Mil & St P Chic-go & N W Chi K I & Pac Chlno Copper.. Corn Products Crucible Steel 14.'4ir0 .400 9,300 500 S. 1 00 2.S00 2.1O0 2.6O0 500 9O0 100 1,400 500 1..JO0 Cuba Cane Hug Erie Generl Electric Generl Motors Grt North Pfd Illinois Central Inspira Copper Int Me Ma Pfd Interna Nickel Interna Paper Kan Cty South Kenne Copper Louis & Nash 600 7o0 400 5.7O0 1,500 300 7o0 500 900 5.100 200 1.700 300" Mix Petroleum 33, MX) IMami Copper 300 Mid States Oil 2 60 Midvale Steel 1,800 Missouri Pacif 800 Nevada Copper 300 New York Cen 60O N" Y N H & H 2.400 Nor & Western :4O0 Northern Pacif 6.6'K Ok Pd & Hfg 2,0o0 Pacific Mail 100 Pan-Am Petrol 7,200 Pennsylvania.. 1,500 Pitts & W Va 1,200 Ray Con Cop 3.200 Reading 8.500 Rep lr & Steel 2,!I00 Royal D N Y 2.200 Shat Ariz Cop 100 Shell Tr & Td 700 Sin Oil St Rfg 6.3O0' Southern Pacif 3.t;oo Southern Rwy 2,0o0 S O N J Pfd 700 Sludebak Com 46.000 Texas company 3.T.00 Texas & Pacif 600 Tobacco Pdts 400 Transcontt Oil 7oO Union Pacific 700 U S Food Pdts 700 U S Ind Alchl 800 U S Rtl Stores 2.600 U S Rubber... 7.000 U S Steel.... 17,000 U 8 Steel.... 1.400 Utah Copper.. 2,300 Western L'nion 100 West Electric 3O0 Willys - Overld 200 High. 47 2!14 U'4i 46 44 S3',i asvi 931 79 994 67 9 3S S3 !i 74 90J, 35 53 13 86H 116 414 70V4 5:', 2SV, 6S 2UH 22 71 Vs 95 24 Vs 15 126Vt 77 80 H 35 64 hi 15V, 61 20 20Vi 99 v. 15SVs 15t 13 Vs 31 , 18 11 72 V4 20 74 1007 84 Va 1? 751, 411. 29 1.)!, 84 VA 68 65 42V 24 97 23 lOIIVi 5SV 43 Vi 3!S 56 iov4 119 2.14 6S 5.154 70 82 HlVi 58 8.1 V. 45 122 5 45 V 45 82 87V4 93 79 99 66 V 9 38 Vi 83 6SV4 8SV 84 51 13 3.1 113 40 69 GS 2HV4 ' 6S 26 22 71 93'4 22 13 126 Vi H ' 7.1 8!) 34 54 1.1 58 ' 19 19 99 "4 152 18' 233 31 IS 11 71 20 100 82 3 17 7.1 41 29 13 63 6.1 64 6 41 23 97 22 HIS .15 42 19 56 10 119 24 67 54 : 67 81 11 1 sale. ,47 28 122 45 45 83 88 93 79 90 66 9 88 88 68 fc 34 55 13 8.1 115 40 69 59 28 68 26 "i, 71 94 23 13 126 14 76 80 85 54 15 58 19 19 90 152 IS 13 31 18 U 72 20 100 3 17 74 41 29 13 83 6.1 6.1 6 41 23 97 22 108 56 42 19 E6 10 119 24 67 55 6S 82 111 Government Statistics Have Bull ish Effect on Market at Chi cago; Bids From France. 5-1 B3 8.1 85 4.1 43 7 ' 7 Mining Stocks at Boston. BOSTON. Jan. 24. Closinir onoimlnn. Allouez 20 North Butte ... 11 Ariz Com 8V4 Old Dom inu vain k ji ia ,. i3 )j 'uieoia ..... 1:1 Calu & Hecla. .245 jQulncy 39 Centennial Cop Range .. East Butte .. Fmnklin .. Isle Royalle . Lake Copper Mohawk .... Superior S3 Sup & Boston 9;Shannon 2jt tah Con ... 20 Winona 8 Wolverine .... 46 I 3 1 1 4 50 11 Foreign Bonds. ruiiownir inreiKn DOIH1 Qllflllilnn. lumisnea Dy tne uveroecic & Cooke com paiiy ui ranisDa. WlUamlna Man Gets Appointment. WILLAMIXA. Or, Jan. 24. (Spe cial.) The Educational Foundations Magazine of New York city has ap pointed R. G. Dykstra, lately affili ated with the United States voca tional department, as head of the staff of the model store department. In this capacity he will represent the home credit system, as worked itit in Oregon, and link !t up with the model store recently Introduced In the schools of New York. Large Decrease on Wheat Visible The American visible wheat supply state' tnent compares as follows: Bushe's 1921... 8.1.S7K.0OO 19J0..,. 62.391.OO0 1919 12S.671.0O4I 1918 1.1.I27.0O0 1917 49.4.19.000 1916.... 68.408,000 Decrease 2.276.000 2.907.000 2.313.000 1.13.1.000 2.167.000 473,000 January 24. January 26. January 27. January 2S. January 29, January 31, Increase. . The corn visible Is B.7S8.000 bushels, sn Increase of 1.879.000 bushels: oats, 32.877. 000 bushels, an Increase of 577.000 bushels; rye. 2.410.000 bushels, a decrease of 46.000 bushels: barley. 2.805.000 bushels, a de crease of 25.000 bushels. San Francisco Fruit Market. SAN FRANCISCO. Jan. 24. Navel or anges. $2..104; lemons. $2&3.50: lemon ettes. $1.501j2; grape fruit, $2(3.25; Ar Isona. $44.50: limes. $1.2501.75; tanger ines, $2.500 4; ScUIlowera, nominal; New- ,$100 Given to Loan Fund. LEWISTOX, Idaho, Jan. 24. (Spe cial.) President Elliott of Lewiston normal school has announced the do nation of $100 to the student loan fund by Thercn S. Ward, a prominent Lewiston business man. The normal school has for many years assisted needy students to obtain thetr train ing for the teaching profession through the medium of a loan fund provided by individual friends of the school and clubs of the state. Theater Being Rebuilt. PROSSER, Wash., J.-.n. 24. (Spe cial.) Twelve to twenty men are en gaged each day in rebuilding the Princess theater, which was recently gutted by fire. The loss was in ex cess of $10,000, as a mechanical or chestra costing $5000 was destroyed, also a quantity of seats. Nothing btrt the concrete walls of the building remained. Russian 5s, 1921.. Russian 5 Vis. 1926 .. F.useian 6s. 1919... Currency French 5s. 1931 French 4s. 1917 French 5s, 1920 .... Italian 5s. 1918 British 5s. '1922 .... British 5s, 1927 British 5s. 1929 British vky 4s British ref 4s Belgium rest 5s Belgium prem .Is ... . German W. L. 5s.... Berlin 4s Bid .. 12 .. 10 .. 14 .. 44 .. 59 .. 49 .. 09 -. 2.! ..373 . . 37 . .3.15 . . 2SO ..260 .. 66 .. 71 .. 13 14 Hamburg 4s 15 Hamburg 4 s Lelpsig 4s . ... Leipsig 5s ...... Munich 4s ...... Munich 5s ...... Frankfort 4s ... Jap 4s Jap first 4s .. Jan second 4s Paris 6s U K 5'iS, 1921 .. U K Ss. 1922 . U K 5s 1929... U K. 5s, 1937 . 16 16 16 15 15 60 78 7S4 9(1 99 .9.1 89 85 Ask. 14 13 15 46 61 51 71 28 8S3 374 372 274" 63 73 14 19 16 17 13 IS 17 17 1 60 79 79 96 99 95 89 86 CHICAGO, Jan. 24. Material upturns in the price of wheat took place today, largely as a result of continued foreign Inquiry and bullish estimates regarding European requirements. The close was unsettled. 8c to 4 a net higher with March $1.70 to $1.71 and May $1.61 to $1.61. Corn gained c to lc and oats c to c. In provisions the outcome var ied from 7c decline to a like advance. The principal trans-Atlantic Inquiry for wheat was from France. Sentiment In favor of the huiw also was stimulated to a considerable, degree by figures of the department of agriculture at Washington. Implying that importing countries needed wheat and rye In excess of the surplus available In exporting countries. Bears however, asserted that financial conditions In Europe would be the determining fac tor and that Argentina was offering wheat at 8 cents under quotations from the United States. On the other hand, Minneapolis re ported the best flour demand for months. Com. oats and provisions sympathized with the strength of wheat. The Chicago market letter received yes terday by Overbeck & Cooke company at Portland said: Wheat Sentiment In wheat underwent a "rijrht about face" over the week-end and that the Ideas were well founded was sirtvstantlated by the action of the market. The development having most to do with the reversed feeling was the publication by the local press of a rather exhaustive statistical analysis of the world position of wheat, which tended to confirm the theory that the margin of safety between the supply and requirements this year will be very narrow. Domestic news, too, was of a decidedly more optimistic tone. Gulf bids to the country were advanced 1 cent a bushel, Minneapolis reported the best flour demand In a month. Southwestern cash markets were strong and from 2c to 4c higher and although receipts were larg er, country offerings were paid to be much smaller. There was no export business confirmed up to the close, but New Tor advised that France had asked for offers of 900.000 bushels of wheat Stock of wheat In Chicago public and private ele vators decreased last week to a total of onyl 831, 000 bushels. The position of wheat appears to be strengthening dally. and. in our opinion, the Influence will manifest Itself before long. Corn The surprise of the day was th strength dipplayed by this market In face of the largest receipts of the season. Even the cash markets were strong with th demand good and some export busfnes: reported under way. although the tfjnoun was not given. It Is history In the corn trade that when the movement reaches Its peak the market simost Invariably develops strength, regardless of the sur face conditions. Cash handlers report eountrv offerings have been much srnalle for the past few days and agree that these receipts represent a cleanup. Oat.9 Trade In the aggregate was small, but there was no pressure of consequence on the market and the response to scat tered buying was considered Indicative of a strong technical position. Cash prices were higher with the futures. Rye 'Maintained a firm tone In pathv with wheat and buying Induced by strength In local cash markets. No. rye on track sold at $1.63. Leading futures rangen as ioiiows: WHEAT. Open. Hiirh. Low. $1.68 $1.71 $t.7 l.ti-'-i 1.0s CORN. .69 .68 ' .70 .69 OATS. May 44 .44 .44 July 44 .44 .44 -Bond Departments- Back of taxes, out of which these municipal bonds are paid, is Idaho Falls' finest residen- ' tial district with a value of over $1,000,000. t City of IDAHO FALLS 6 Local Imp. Dist. Bonds Prices to Yield Bonds Due 1921-30 Den. $1000, $500, $100 INCOME TAX EXEMPT Legal Investment for Oregon Savings Banks 7 Population 10,000 Ten thousand people re side in Idaho Falls, the trading center for a vast agricultural region. Ship 7000 Cars An average of over 7000 carloads of farm produce is shipped annually by rail from Idaho Falls. MUM Invest in this splendid issue. LUMEERMEnS TKPST COMPANY Broadway and Oak March... May May. . . July.. 1.58 .68 .69 MESS PORK. Close, $1.70 1.61 .69 .70 .44 .44 .Tan. . May., LARD. .Tan 18.25 13.25 13.12 May 13.82 13.87 13.80 SHORT RIBS. Jan. .... .... .... .... May 12.73 12.75 12.65 Ciish prices were: Wheat No. 2 red. $1.8891.90; hard. $1.74M.76. Corn No. a mixed, 62p62c; yellow. 66j68c. Oats No. 2 white, 4343c; white, 41 c. 23.50 23.60 13.15 13. SO 12 10 12.65 No. No. No. Foreign Exchange. Foreign exchange rates at close of busi ness yesterday, furnished by Northwestern National bank of Portland. The amount quoted is the equivalent in United States dollars: Country. Foreign Unit, Rate Austria, kronen (kiss Helgium, francs 0818 Bulgaria, leva .0150 Czecho-Slovakia. kronen ... ....... .0163 Donmark, kroner ..; 2078 England, pound sterling 8.8650 Finland, flnmark .0377 France, francs .0778 Germany, marks 0202 Greece, drachmas .0778 Holland, guilders 3853 Hungary, kronen ......... .0028 Italy, lire 038 Jugo-Slavia, kronen .9078 Norway, kroner Portugal, escudos Roumania, lei Serbia, dinara ................... Spain, pesetas Sweden, kroner Switzerland, franca China Hongkong, local currency Shanghai, taels Japan, yen Seven Miles of Road to Be Opened. KELSO, Wash., Jan. 24. (Special.) Residents and owners In i. Bray nion mountain district, have decided to organize a district under the Donohue law, for the improvement of seven miles of road, which will open up several thousand acres of fine agricultural land. Surveys are now being made. . .199.-1 ' .1170 .0,62 . .030'! .139 .2203 .16114 .3650 755C 4900 NEW TORK, Jan. 24. Sterling ex change strong. Demand, $3.77; cables, $3.78; Canadian dollars, 11 discount: francs, demand. 7.29; cables, 7.31; lire, demand, 8.70; cables, 8.71; marks de mand, 1.70; cables, 1.71. Swift & Co. Stocks. Closing prices for Swift A Co. stocks at Chicago were reported by the Overbeck & Cooke company of Portland as follows Swift ft Co l4it Swift International s Llbby, McNeil & Libby J054 Rational Leather i Coffee Futures Lower. NEW YORK, Jan. 24. After opening at a decline of 3 to 7 points, the market for coffee futures teadled, encouraged by rumors of a firmer tone In Brazil and the firmer ruling of foreign exchange rates. May sold up from 6.17c to 8.87c, or 3 points above Saturday's closing fig ures, but the advance was not fully main tained, closing at 6.61c bid. The tteneral list closed st a net decline of 2 to 3 points. January. 0.101;; .viarcu, 0.11c; stay, u 81c; July, 7.20c; September, 7.55c; October, 7.76c. December. 7.85c. Spot coffee was unchanged at 6 to 6c for Rio 7s and 9 to 10c for San tos 4a Dairy Produce, Buattlo, Jan. 4, Ess', elect local Primary Receipts. Prlmarr receipts Jan. 24. Wheat. 2.402 000 bu. vs. 1.426,000 bu. Corn. 2.953,000 bu. vs. 1,094.000 bu. Oats, 1,771,000 bu. vs 886.000 bu. Shipments. Wheat. 1.022.000 bu. 504.000 bu. Corn, 729.000 bu. vs. 453.000 bu. Oats. 536.0O0 bu. vs. 521.090 bu. Clearances. Wheat. 1,419.000 bu. Flour, 39.000 bbls. Corn, 528.000 bu. Oats, 61,000 bu. Rye, 43,uoo tu. barley, 42,000 bu. Minneapolis Grain Market. MINNEAPOLIS. Jan. 24. Wheat, March, $1.61; May. $1.59. Winnipeg Grain 3farket. WINNIPEG, Jan. . 24. Wheat,' May. $1.86. Grain at San Francisco. SAN FRANCISCO. Jan. 24, (Grain.) Milling wheat, $2.903. 15; feed wheat, $2.7r.'93.05; red oats. feeS. $1.50g1.65; hsrlpy, spot. feed. 1 .85 1.40: shipping "- -- - -- ' -rti;gTM Cr- w WASHINGTON STiOX Chats If you want to sell Liberty Bonds, the Ilibernia will pay New York prices, less a moderate commission. Subject to allotment we offer Kingdom of Belgium 8 External Loan Dated: February 1, 1921. Due: February 1, 1941. This issuo'is redeemable by lot $l,500,00fl each year from 1926 to maturity at 107. Principal and semi-annual interest payable in United States Gold Coin in New York City. PRICE: 100 and Interest to Yield Over 8 Full particulars upon request. j).pevereaux &(5mpanfe 87 Sixth .Street INVESTMENT BONDS PORTLAND, OREGON Broadway 1042 barley. $1.55 1.70; white Egyptian corn. $2.90ffl2.95; red milo, $1.802.15. Hay Fancy wheat. $2021; tame oats. $1719; wild oats, $i0(o15; barley, $12 15; alfalfa, $17 20; stock. $W&14. Seattle Grain Market. SEATTLE. Jan. 24. Wheat, hard white, soft white and whita club, $1.64; hard red winter, soft red winter, northern spring and eastern red Walla, $1.61; big bend, bluestem, $1.74. . , City delivery: Feed Scratch feed, $.i; baby scratch feed, $71: teed wheat. $64; all grain chop, $51; oats, $49; sprouting oats,'$54: rolled barley, $48; clipped barley, 153; milled feed, $39: bran. $39.. Hay Alfalfa. $27 ton; double compressed alfalfa, $33; ditto timothy, $39: eastern Washington mixed, $35; stray, $20. . Phone your want ads to The Ore- ponlnn Main 7079. Automatic 560-95. Municipal Bond MATURING 1-921 TO 1931 TO YIELD NO INCOME TAX TO PAY Call, phone or write for details. Li Clark, Kendall & Co., Inc. 5th and Stark Sts., Portland, Or. Municipal Bond MATURING 1321 TO 1931 TO YIELD O0 NO INCOME TAX TO PAY Call, phone or write for details. Clark, Kendall & Co., Inc. 5th and Stark Sts., Portland, Or. uraOnBMB; HOTEL HOYT Strictly Fireproof. " Near both depot &nd convenient car ervic to all parts of city Single Rooms Without Batb, f 1 and up Sing!) Rooms With Bath, and op KI.BKKTH. KOKK, Manager. II facts no. eoa. PROTECTION The protection of pave ment foundations aeainst the disintegrating effects of traffic water and all other agencies tending; to destroy, is as much a function of a wearing surface as is the resist ance to the wear and im- - pact of the traffic itself. None but an asphaltio t y p e of pavement will (rive the protection so . greatly needed. Specify WARRENITE BITULITHIC WARREX BROTHERS CO. And Yon Secure This Protection FOR SALE I have a limited amount of stock In a financial institution, composed largely of bankers and successful men of the northwest, that I will sell in blocks and on terms to suit the buyer. This is a permanent institution and Is destined to have a wonderful influence in the state. B'or further infor mation write BJ 355, Oregonlan. A Twenty-Year First and Refunding Mortgage Gold Bond at a price to yield about 7.10 One of the largest of the well established and successful elec tric light, power and gas cor porations in the United States. In $500 and S 1000 denominations Circular upon request for OR366 The National City Company Offices In more than 50 cities Portlnnd, Ycon Bide. Telephone Jluin 6U72 WE OFFER OUR PARTICIPATION IX THE SYNDICATE KINGDOM OF Belgium o ' 20-Year Sinking Fund Gold Bonds Sinking; Fond Operates to Retire Honda at 107V&, beginning; 102(S, until entire Issue la retired. PRINCIPAL AXD INTEREST PAYABLE IV V. S. BONDS "Robertson &Evin& INVEST ffsVN i atwriMM 707-$ IWRTHWSSTSRN ftAHK BiPfc MaMwvJ4u The financing of Foreign Credits is absolutely essential to the con' tinuance of our Foreign Trade. We offer, subject to allotment, our participation in a new issue of $30,000,000 Sinking Fund 20-Year 8 Gold Bonds of the Kingdom of Belgium Due February 1, 1941 Price Par and Accrued Interest Redeemable on or before February 1, 1941, at 107Vz The Kingdom of Belgium afrrees to pay into a "Ink ing fund quarterly installments beginning May 1. 19..1, until the entire loan is redeemed, sums sufficient to . purchase each year $l,50rt.noo principal amount of bonds at not exceeding 107. If bonds are not purchasable through sinking lunu prior to De cember 15, 1925, in amounts suffi , dent to retire bonds at the rate of tl, 500,000 per year, unexpended bal ance in fund is to be applied to re demption of bonds by lot at 107 w on February 1. 1926 and annually there alter by lot at 107i. YIELDING OVER 8 G Oldest in the Northwest WASHINGTON AT THIRD ill9' -m l!IIbiiU ViitK Big New York Bank Strongly Endorses Credit Insurance - A leading bank of New York City has just written the American Credit-Indemnity Co., as follows: "We are pleased to learn that the matter of Credit Insurance for mercantile houses is being brought to the attention of Banks, particularly in these times. "We have for sometime past been particular to learn from borrowing depositors whether such insurance is carried. It is our inten tion to incorporate in our blanks for finan cial statements this query. Undoubtedly this is just as important as fire insurance on merchandise." Bankers in every part of the country are en dorsing precautions that prevent, else pay, bad debt'losses beyond the normal, which the American's "Unlimited-Interim-Payment" Policy does. Manufacturers and wholesalers, there's no better way of starting the New Year than by getting the full particulars of our protec tive service. Write or phone today. Payments to Policyholders alut $10,000,000.00 AMERICAN CREDIT-INDEMNITY, CO. op NEW YORK E. M. TREAT, peesident, ISSUES STANDARD UNLIMITED POLICIES II. T. MacRILL, General Agent " Board of Trade BIdg. Phone Main 1179 Portland, Oregon What about the Motor Industry? Has it reached the sat uration point ? Will motor stocks come back J What is the present status of different companies 2 All these questions are cov ered in detail in our current Market Review, which w II be mailed to anyone free upon request, Atk for VG-M E. M. Fuller & Co. Minbn M ..soliaaud BMok Huliun ol N. V SO Broad St., Naw York. Nw York Nswsrk ClsnJssd Caicaso Bartos U r Pr-, a;r A irss We offer subject to allotment 1 Kingdom of HERRIN & RHODES, INC. Railway Exchange Bids- Mala 263. Established Seattle. Portland, Tacoma. Fast private duplex wire coa.it to coast. Stocks, Bonds, Grain, Cotton, Foreign Exchange. ALL MARKETABLE SECURITIES. Members Chicago Board of Trade. Correspondents E. F. Hutton & Co. Membrm New York Stock Kxchan?. New York Cotton Exchange. New Orleans Cotton Exchange. LIBERTY AND WCTORV BONDS. Headquarters for buying and selling all Issues Large or small lots. 20-year 8 Gold Bonds at 100, to yield 8 to 10 Call or phone for details. Wire orders "collect." yr7 Freeman, f CAMP CO. I round fioosj Lumsesmins Building Fifth and Stabs: At BT40 Phone Your Want Ads to THE 0REG0NIAN Main 7070 Automatic 560-93 Will Finance Corporations' Corporations requiring addition- j al finance, that are on earning basis and have been in business i for one year or lonper. can se- 1 cure immediately J100.000 to i $1. 000. 000 throueh the increas- i iriK of the capitalization or to issue treasury Ftock. Corpora- i tions must have paid, or will I soon pay. dividends and have ' not less than 600 stockholders, j When replying, state about how many Rturkholdera now In your corporation. J FINANCIER. 1 Koona KM), Trihunr Ilulldlnic. Chivaaro, Illinois. i