Morning Oregonian. (Portland, Or.) 1861-1937, March 11, 1921, Image 21

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Morning Oregonian., March 11, 1921, Page 21, Image 21

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Newspaper Page Text1 TITE MORXIXG OHEGONIAX, . FRIDAY, MARCH.. 11, 1921 HIDE BUYERS ARE STILL HOLDING OFF Not Certain That Time Has Yet Come to Buy. SURPLUS STOCK LARGER PHops Are Ixwer Than at Any Time Sine 1893, but Trading Has Xot Revived. There lias bn no change for trie bet ter, is yet. In the hide market. Many deal era thought weeks ago that prices bad reached bottom, but since then there have been declines. Prices now are lower than at any time since 1813 and In some quar ters it is figured that hides at these prices should be a good investment, but that 1: a question. At any rate, many of th traders appear already to have all the: money tied up. The eurpiu3 of hides In the United States is Increasing. The latost government re port showed a stock of 7,713.762 hided, or an increase of 8.9 per cent in a month Calfskin stocks decreased 6.9 per cent to 4,577,6!. Goat and kid skins amounted to 11,7111,505, an Increase of 4.4 per cen and sheep and lamb skins increased S. rer cent to 13.773,089. Of the less im porta nt descriptions, horse hides decrease 2.8 per cent to 329.159, and there was also a decrease of 1.8 per cent In lndl; tanned cattle hides and kips, bringing th total down to 701.034. The greatest in create was in deer and elk skins, with holdings of these amounting to 245.203. or 68.3 per cent mora than the month previous. Of the country hide trade In the eas a Chicago report says: "Country hides continue generally dull and nominal. Such demand as exists continues to center al most exclusively In smaller packer take of T, which, in some instances. Is selling under asking prices for regular country hides." Argentina, .. Australia .. Others Total . . . . 32.734.iHM) 7:t.0.".S.0(M i 7.818.UO0 1,812,000 . . .401,071,000 428,912.000 HE Thirty Cent Bid for Eeis. Effort to set esse down to a lower basia for storing have not been success ful, and at the moment prices are show inn an advancing- tendency. Up to SO cents was bid yesterday to country ship pers. Butter was quiet and cubes were un changed. Receipts did not clean up. There waa an improved demand for poultry, heavy hens selling at SO cents and light hens at i'S cenla The market for country dressed veal continued weak. Park was steady. COMMODITY PRICES AGAIN DECLINE Wholesale Quotations Show an Eress of Kocewslons. For the 43d consecutive week Dun's list of wholesale commodity quotations dis closes an excess of declines over advances, the former numbering 6R and the latter 22. Considerable irregularity prevailed in the grain markets, conflicting foreign ad vices, further insect complaints from do mestic wheat-growing sections and un expertedly heavy receipts causing uncer tainty; but soma yielding occurred in wheat, corn, oats and rye early In the week. A Active buying strengthened prices of hn?s and sheep, and beef held steady, while provisions rose in sympathy with the improved feeling in raw materials. Some scarcity of the finer grades re- suited in a substantial advance In butter. and cheese was firm, but continued liberal offerings had a depressing effect on eggs. Unsettled conditions still prevail in the iron and steel Industry, with additional pries concessions named by independent in terests, and the undertone In the minor metals remains easy. While the outlook in textiles as a whole Is more encouraging, the further decline in raw cotton to the lowest level since 1P15 has tended to check new business in markets for cotton fabrics, and some quo tations have yielded again. Despite more liberal buying by footwear manufacturers, the price irregularities in leather continue, and hides still lack sta bility. ALL WHEAT GRADES t CENTS LOWER. Oats and Barley Only Firm Features of Coarse Grain Market. There was a general decline of 2 cents in the wheat market locally and in the country. Some business was reported, but farmers, having held back so far, were, a rule, not ready sellers. . xne only Duslness) waa In the coarse grain division. Oats bids were advanced ll.'i'&SO cents on white and S0c$1.50 on gray. Brewing barley was 50 cents higher Jid feed barley up $1.00. Corn declined M) cents. Argentine shipments this week were: Wheat, 1,209,000 bushels, against 4.0DJ.000 bushels last year; corn, 4.12,000 bushels, against 1,000,000 bushels last year;, oats, 300.000 bushels, against 900.000 bushels. Terminal receipts in cars were reported by the Merchants Exchange, as follows: TVrtland Thurs. i ear ago Season to date. Year ago 'Tacoma Wed. "Year ago Reason to date. "Year ago Feattle Wed. . Tear ago Feason to date.. Tear ago Wheat. Bar. Fir. Oats. Hay. 1 1 8 2rt 2.1 .. . 7 1241,4 23 811 411 107 IW28 lllil) 3171 411 li04 4 .... 2 in ... 47 725 104 7.14 72 22JO 133 713 4 !i ... 5 17 20.1 SI 9 1128 230 612 810 1109 4 . . 30S7 snns .1014 OREGON APPLES IN ENGLISH MART Large Quantity of American Fruit Afloat for United Kingdom. The following prices on American ap ples prevailed in Brltiah markets during the week ending March 7, conversions being made according to the rate of ex change prevailing March S. when a pound was worth $3.0875 and a shilling 19.543 cents, alt grades intended unless otherwise indicated: At London Boxes, California Newtow ns, 53.52. At Liverpool Boxes, Oregon extra fancy 8.71: choice, $2.933.42; Den Davis, choice. $2.4?2.03; Winesaps, 12.7-tG3.22; Jonathans. 2.55j?3.27. At Southampton Boxes. Washington extra fancy Winesaps, 3.52?f3.71; fancy, $3.1393.52; choi . $3,226 3.32; extra fancy Newtow ns, $3.71 30: fancy, $3.6I1 S.91; Jonathans, extra fancy, $2.74 3.82. During the week ending March 7 there "were afloat for the United Kingdom 94,000 barrels and 76.000 boxes of apples, com pared with 92,000 barrels and 82.000 boxes during the week ending Febru ary 28. - Bank Clearings. Bank clearings of the northwestern cities yesterday were as follows: Clearings. Balances. Portland . 4.ni i.7M 1 4.so4 Sfattl? 4.3!'0.r.7 1,112.342 Tacoma 57:t.fi42 loC.2."9 Spokai.e I,4ti.s27 5U1.4J2 PORTLAND MARKET QUOTATIONS. Grain, Flour. Feed, Etc Merchants' Exchange, noon session. -Hid Wheat Hard white Soft white White club Hard winter Northern spring . Ked Walla oats- N'o. 2 white feed......;.., No. 2 gray Hariey Brewing Standard feed Millrun Corn No. 3 E. T. shipment 31.50 31.50 No. 3 Y delivery 31.50 31.50 FLOUR Family patents, lit. 80; bakera' hard wheat, $0.50; bakers' bluestem pat ents, $9; valley patents, $7.90; whole Wheat, (8.20: graham. $8.05. MILLr'EED Prices f. o. b. mill: Mill run, $29 per ton; 'roiled barley, $40&42, rolled oats, $43; scratch feed, $54 per ton. COHX Whole, fM; cracked. $41 per ton. HAT Buying prices t. o. b. Portland: alfalfa, $19 per ton; cheat. $2223 per ton; clover, $18; valley timothy, $2l27; eastern Oregon timothy, $28. March. April. $ 1.50 $ 1.50 1.48 1.48 1.48 1.48 1.40 1.40 1.40 1.40 1.40 1.40 3.1.50 35.50 30.00. 80.00 33.00 31.30 20.00 DECLINES ATTRIBUTED TO AY AGE AND SALARY CUTS. 33.00 3 20.00 Dairy and Country Produce. BUTTER Cubes, extras, 4142c: prints, parchment wrapped in box lots, 48c; car tons, 49c. Butterfat, buying price A grade, 45c; B grade, 43c Portland delivery. KGGS Buying prices, case count. 28 30c delivered; jobbing prices to retailers. candled ranch, oUge:t2c; selects, 324p30c (Jritifcibhi TUlamooK triplets, price to jobbers f. o. b. Tillamoo't, 33c; Young Americas. 34c lb. POULTRY Hens, 26S0c: ducks, 45 50c; geese. 20c; lurKeys, live, 30c; do dressed, 4550c PORK Fancy, 151. "ic per pound. VEAL Fancy, lbflg. lsu per pound. Fruit" and Vegetables. FRUITS Navel oranges, $3.005.50; lemons, $3.254.75; grapefruit. $3.511418.50 per box: bananas, HQ?12c per pound; ap ples. $1 &3.50 per box. VEGETABLES Cabbage. 2630 per pound; lettuce. $3.70 per crate; carrota, $1.25 sack; garlic, 1020c pound; beets, $1.00 per sack.; cauliflower, $22.25 per crate; celery, $0.25& 6 per crate; green peppers. 3040c per pound: rhubarb, 17Vj 20c pound: spinach, llfpl.ou per oox. turnips, $2 2.20 per sacK; sprouts, pound; tomatoes, $0 per lug; cucumoers. $3 ft 4 per doxen; peas, 20c pound ; aspara-. gus. 40c pound. POTATOES Oregon, flinii.j per juu pounds; Yakima, $1.752; sweet potatoes, $3.75 per hamper. ONIONS Oregon, I1S1.50 per sac- Slaple Groceries. Local Jobbing quotations: ki;;ar (sack basis) Cane granulated. 9o per pound; beet, 8 0o per pound. NUTS Walnuts, laff.nc; "uv 34c; filberts, 15jf21c; almonds, peanuts, 10c per pound: cocoanuts, $2 per dozen; pecans, 23c; hickory nuts, 16ie pound. HONEY Comb, J7.75 per case. RICE Blue Rose. 9V-e per pound; Japan style, 7c per pound. BEANS Small wnite, oc; targe wmi. 8c; pink, 7(4c; lima, 10c; bayou, I-Vic, red. 7-.c per pound. COFFEE Roasted, bulk, drums, lesjaoc per pound. SALT tiranuiaieu, oaie, o.ov-w ....., half ground ton, 60s. $19.75; 100s, $18.2j; ump rock, $20. DRIED FRUITS Italian prunes, -C pound; dates, $3.T0S7 per box; figs, $29 4.75 per box. Provisions. HAMS All sizes, SO 33c; skinned, 26 9 $2c; picnics, 21c. BACON Fancy, 4049c; cnoice, sunt 34c; standard, 26ti2Nc. LARD Pure, tierces, 19c pound; com- Dound. tierces. 13 Wc JJK I SALT Backs, ziw-'ic; piaies. aac. Speculative Issues Involved in General Reversal In Xew York Stock Market. NEW YORK, March 10. Business on the stock exchange today was larger, but attended by further substantial deprecia tion of quoted values. Selling for both accounts of the rail way shares was the feature. Declines of 1 to 3 points embraced almost every class of transportations. In some Instances, low est prices for a number of years were registered. The break in rails was attrib uted to cuts in wages and salaries and a policy of retrenchment. Other bearish Incidents were the Febru ary tonnage report of the United States Steel corporation, reporting another large decrease of unfilled orders. Steels, railway equipments, shippings. coppers and oils, the European Issues ex cepted, were Involved in the general re versal at declines of one to four points, as well as many specialties. Sales were 800.000 shares. Call and time money was unchanged, as to rates, but supplies were smaller. Principal foreign exchange rates moved more favorably to home centers. In the bond market lower prices ruled for domestic and foreign issues. Liberty 3 4s, at 90.12, made a new low record for the year. Total sales, par value, $9,700,000. closing Stock quotations. Sales. Am Bee Sug 1,400 American Can. 2.SO0 Am Car & Fdy 1,000 A H & L. pfd 1..-.H0 Am Inter Corp 8.300 Amerlcn Loco 1.3O0 Am Sm & Rfit 6.1O0 Aniericn Sujrar 3.700 Am Sum Tub 4.300 Am Tel A Tel 2.1O0 Amern W'oolen C.500 Am Z. Ld & S 3110 Anaconda Cop 16.700 Atchimn 0,200 At. Ulf & W I 20.000 Baldwin Loco 12,.tm Haiti Ohio 7.700 Beth Ptl "B" 0,2110 Bt & Sup run 5I0 Calif Petrolem S.Soo "anad Pacific 6.SOO Centrl Leather 3,i0 t'hand Motors ll.lXiO Chesp & Ohio 2.700 Chi. M & St P 13.Si0 Oh leg & N W :!.HOO Chi. R I & P 6.siH Chino Copper. 1,S0 Colo Fl Irn 40 Corn Products 4. WW) Crucible Steel S.lnO Cuba Cne Sug 400 Erie 1,000 Genrl Electric 1.SOO Oenerl Motors J 3.000 Gt North, pfd ll.flivo Illinois Central .U0 Insnrn Copper 4. into It Me Ma. pfd 5.000 Intern! Nickel 6.Ki0 Interntl Paper 1..W0 K C Southern .1.:HI0 Kenne Conner 3.7 Mexl Petrolem 13.300 U K 5V4a. 1021 90 9tt U K Stes, 1922 94 4 94 U K 5fes, 1029 88 88 U K 5 hi a, 1937 8514 8tf Swift Co. Stocks. Closing prices for Swift Co. stocks at Chicago were reperted by the Overbeck St Cooke company of Portland as follows: Swift & Co 101 Swift International -4. Libby. McNeil V LIbby 10H National Leather Last Miami Copoer 8110. Mirl State Oil 5.0OO Mldvale Steel. 4. MO .Missouri Pacif 8.000 Nevada Coppr .3"0 N Y Central S.4fl N Y. N H & H ,2ii0 N'orflk West 000 N'orthn Pacific 14.300 Ok Prd & Rfg 1.100 Pan-Am Petri 14.SO0 Pennsylvania. . 20.0"0 Pitts & W Va 1.000 Rav Con Cop 3.100 Reading 18:500 Rep Irn & Stl S.imo Rvl Dtch. X V 11.500 Shatt Arls Cop 100 Shell Tr & Td 1.5O0 Stn Oil & Rfg 20,000 Southn Pacific 12.000 South Railway 9.71X1 S O. N J. pfd 100 Studebkr Corp 24.000 Texas Co 9.200 Texas & Pacif 3.300 Tob Products 2.7)0 Transeontl Oil 1.500 Union Pacific. 14.000 U S Fd Pdts 2, .MX) U S Ind Alco 1.1X10 U S Rtl Stores 5.800 U S Rubber.. 3.200 U S Bteel 60.000 Utah Copper. 2,500 Western Union ."OO West Electric 1.400. Wlllvs-Over... 4.S00 Ex-Dividend. BONDS. U S 2 reg 1O0:n P Ss IT S cv 4s cpn.MOSVPac T T 5s. . Pan 3s cpn 80 Pa con 4Mb A T A T cv 6. . 9(5 IS P cv 5s Atch gen 4s ... 77V;iSo Ry 5s High. Low. Sale. 43 42t, 42", 2S14 27 M 12.3 122H 122 44 Mi 43 's 43 ! 43 41",. 42 86 8.-.v; R51 3.8 Sfii 37 91 00 ' 90 84 82 S3 102 101 "i 101 ft 04 62 02 S',i S'i 814 36 34 '4 34 80 ,9 70 "4 4t 40'4 4"4 894 87 87 3'JMs M 31 57 14 56 50 11 11 11 38 37 38i 111 110 111 38 ,17 3714 72 70 Mt "1 14 59 '4 57 57 25 23 23 06 04 hi 04 '4 2.-. 14 24 24 4 20 20 Mi ' 20 2S 20 2i 70 KM 14 0014 9214 9014 O0 U 23 22 v4 -'2 12 12Mi 121 130 128 128 13 12 12 72 70 88 SS 88 3214 31 31 50 48 48 14 13 14 54 53 S3 22 21 22 17 1B 16 106 104 154 17 1 10 12 12 12'i 30 20 29 18 17' 17 10 9 9 09 66 68 17 16 1 96 10 90 79 76 76 3 3 S 74 72. 72 37 30 36 27 2R 20 11 11 11 71 70 7C 66 4 64 63 62 62 6 B - 6 41 40 40 22 21 21 74 72 72 20 20 20 107 107 107 01 09 tiO 41 40 40 21 20 20 C2 01 51 8 7 7 118 117 117 22 21 21 07 00 67 52 51 51 67 66 66 81 79 79 40 48 48 Sfl 80 86 46 46 40 7 . . 714 7 Metal Market. NEW YORK, March 10. Copper Un settled. Electrolytic, spot and March 12 12 c; sceond quarter, 12 13c Iron, nominally unchanged. Antimony, spot. 5.205.25c Lead dull. SDOt 4c Tin, firmer. Spot and nearby, 27.750 28c: futures. 28.50M28.75c Zinc, dull. East St. Louis, spot 4.75 9 4.87c v Naval Stores. SAVANNAH. Ga.. March 10.- Turpentln dull, o4c; no sales: receipta 33 barrels shipments. 74 barrels; stock, 11.685 bar rels. Rosin aulet: no sales: receiots 143 bar. rels; shipments, 900 barrels; stock. 74,883 barrels. Quote: B. D, E, r , li, xl, 1, M. N, WG, WW, $11. LAST PRICES ARE LOWEST XO SUSTAINED BUYIXG POWER rX CHICAGO WHEAT PIT. Strained Industrial Conditions Have Bearish Effect on Market. Coarse Grains Are Down. ALL LINES HOLD STEAD SMALL- RUX OF STOCK AT XORTH PORTLAND YARDS Part of Day's Receipts Are for Con tract Delivery; Quotations Are Unchanged. There was a small run of only four loads of stock at the yards yesterday and a part of these were for contracted de livery. There was" no ohange In the gen eral situation. The tone, of the marnet was steady In all lines and the prices of the previous day were repeated. Receipta were 14 cattle, 1 calf, 171 hogs and lti sheep. The day's sales were as follows Wgt. Price. 101 4.00 876 3.00 1045 4 00 292 11.00 190 11.50 176 11.60 20 11.00 275 11.00 22 11.50 222 11.50 400 9.0O 270 9.00 201 11.90 227 11.50 400 . 8.50 120 11.00 11.50 178 11.00 500 9.00 203 11.00 RS 83 87 '92 84 Wool, lions. Etc WOOL Oregon, clean basis, fine, 70c half blood, 60c; three-eighths. 50c; quar ter-blood, 40 i 45c. HIDES AND PELTS Nominal. TALLOW No. 1. 5c: No. 2. 4c pound. CASCARA BARK 1920 peel. 8c pound. HOPS 1920 crop, 10 w 10c per pound. MOHAIR Nominal. GRAIN BAGS Carlots, 7c, coast. Oils. LINSEED OIL Raw. In barrels, 99c; gallon cans, $1.14. Boiled, in barrels. 1.01; 5-gallon cans, $1.16. TURPENTINE: In drums, 89c; 6-gaIIon cans, $1.14. COAL OIL Tank wagons and barrels, 17c; cases, 30&37c GASOLINE Tank wagons and barrels, 80c: cases, 42c. iron Iron BETTER QUALITY URGED BUTTER M AXTFA CTTRERS FACE DAXISII COMPETITION'. D & R G con 4s.63 U P 4s 80 NYC deb Bs. N P 4s 7U S Steel 5s. 75 93 Bid. Mining Stocks at Boston. BOSTON, March 10. Closing quotations: Allouez Ariz Com . . . Calu & Ariz. Calu A Hecla Cop Range . . Centennial .. East Butte . . Franklin isle Koyalle . . Lake Copper. . Mohawk 20 . 8 . 46 .226 . SI INorth Butte Old Dom lOsceola -Qulncy Sup & Boston. 9 .Superior 8 'Shannon L'tah Con 19 I Winona .. 2 V 1 Wolverine 46 I 10 13 26 38 1 3 1 4 BO U Wgt. Price, lcow.. 1300 $6.00il5 ewes.. 2 cows.. 605 3.00 6 cows., lcow.. 970 4.0i 2 bulls. . Scows. 793 S. 201 5 hogs.. 2 cows. 1010 6.00:14 hogs. . Ibull.. 1000 4.75 11 hoga. . 4 hogs.. 205 11.801 1 hog. .. lOhogs.. 137 11.001 2 hogs.. 8 hogs.. 101 11.001 7 hogs. . 2 hogs.. 320 9.00i 5 hogs. .. 2hoga. 220 11.0o 1 hog... 1 hog. . 200 O.OOj 1 hog. .. 12 hogs.. 210 11.0OI 7 hogs.. 7 hogs.. 207 11.501 7 hoga.. A hogs.. 313 11.50, 1 hog... 13 hogs.. 20S 11.20 1 hog... 1 lamb. 70 9.0O110 hogs. . 13 lambs 89 8.70, Shoes.. 21 lambs 128 60olhog... 10 lambs 90 S.003hogs.. The following prices are current at the local yaras: Cattle Choice steers Medium to good steers Fair to medium steers........ Common to good steers Choice cows and heifers.... Medium to good cows, heifers Fair to medium cows, heifers Common to fair cows, heifers Canners Bulls Choice dairy calve. .. , Prime light calves.... Heavy calves , Best feeders , Fair to good feeders.., Hogs Prime light Smooth heavy ... Rough heavy ira niirs Feeder pigs 10.00fell.00 Sheep East-of-mountaln lambs .... Vallev Iambs Heavy lamhs, 90 lbs. and up Feeder lambs Cull lambs Light yearlings Heavy yearlings Wethers ' Ewes Prices. . .$ 7.75W 8.25 . . 7.(8) 7 .. 6 20 7.00 .. 5.20 . . 6. 20 u 7:00 5.70 & 6.25 5.20 5i' 5.75 4.25 i 5. 2.1M) 4 3.0O& 5.00 12.0Oft 13.50 11.0OW12.5O 6.0O& 7.50 6.0OM 6. 5.75 6.75 11.0011.50 10.5O 'a 11.00 6 OO''?' 9.00 10 00 i 11.00 S50 fl.2o S.OO'tf S.0O 6.501 8.00 6.00Sl 7.00 4.00 6.00 7.0S 7.50 6.00I3 7.00 S.OOitr 6.00 1.5J 5.00 CALIFORNIA HOP TRICES REDCCF.D Sonoma Can Be Bought at 13V4 to 15 Cents Sacramentoe Neglected. The California Hop Growers, In their last circular, say correspondents from Sonoma county advise of crops in that section which can be bought at 12 cents, although they admit tUat a real fancy lot would bring 15 cents per pound. In the Sacramento section some offers of 10 to 10 cents have been made, but no sales are reported. A large business could be handled here if buyers would pay up to 12 cents per pound. It now looks as if other sections of the coast, ays the circular, would unload the bulk of their unsold crops before buyers would devote much interest to Sacramento valley cropa So far the buying at reduced lev els Indicates speculative energy. The con tract market is lifeless In all sections. Wheat Shipments Increase. World whit shipments for the week compare with the same week laat year as follows: Wk ended Wk ended Feb. 5, '21. Feb. 6. '20. days V. 9. and Canada. Argentine Australia Others a SrtO.000 Z.728.IXX1 832.0(H) 200.000 3.197.0(H) 4.0')2.(HHt 1.677.000 Total 10,620.000 9,476,000 Shipments for the season to date com pare as follows: Total since Same period Ju!v 1-21. last season. V. S. and Canada. .JlJ.isJ.WO 20,9ti4,0oo Foreign Product Gains Foothold in This Country Because of Its High Grade. United efforts for the Improvement of the quality of American butter by pro- ucers, ' manfacturers and dairy experts are necessary at the present time in view of the foreign competition which the In dustry fs facing. This is the belief of L. Martindale, local produce manager of Swift A Co. Not only should the farm er and manufacturer to co-operate to im prove the product, according to Mr. Mart indale, but aid should be obtained from the dairy department of the state uni versity and the dairy extension depart ment, as well as from the farm advisers of the various counties. It was pointed out that on February 26 the United States department of agricul ture, through its bureau of markets, quoted the Chicago market on butter as follows: 9Ct score butter, 51 cents; S6 score but ter, 34 cents. ; "This difference In price Is due to the actual difference In quality," said Mr. Martindale. "The consuming trade of the United States is now being supplied, not only with butter made in the United States, but with butter Imported from Can ada, New Zealand, Australia, Argentina and Denmark. "There was considerable prejudice against Danish butter when it first made its appearance on our market in large volume last year, but the superior quality of this product has won for it an en viable position In the butter markets of this country. This is not due so much to the better methods of manufacturing, but rather to the fact that greater attention Is given to the care of milk snd cream on the farm. It is surprising to know that butter can be manufactured in Denmark and delivered in New Tork three or four weeks later, and be of uniformly better quality than the bulk of the butter man ufactured in the United States. "The higher markets which have re cently prevailed in the United 8tates will sttract more Danish butter. Tbe steamer Hellingolav arrived at New Tork from Denmark. March 7, with 1,225,000 pounds. It is expected this butter will find a ready sale at a satisfactory price. "Co-operative efforts to Improve the quality of our American butter should be taken up at once." Money, Silver, Etc. NEW YORK. March 10. Prime mercan tile paper. 7a7. Time loans steady; 60 days, 90 days and six months. 64i7 per cent. Call money steady: high. 7; low, 7; rul ing rate, 7; otoeing bid, o; offered at 7; last loan, 7. NEW YORK. March 10. Bar liver, do mestic 90. foreign 54. Mexican dollars, 41. LONDON, March 10. Bar silver, 81 an ounce. Money, 6 per cent. Discount rates, short bills 7 per cent; three months' bills 6 (ff6 11-18 per cent. Liberty Bond Quotations. NEW YORK. March 10. Liberty bond Quotations closed as follows: 3s. 90.12; first s. 86.00 bid; second 4s. 80.42; first 4s, 60.98; second 4s. 86.56: third 4s, 90 32; fourth 4s, 80.70; Victory, 3s, 97.40; Victory, 4s, 97.40. Foreign Exchange, Foreign exchange rates at close of busi ness yesterday, furnished by Northwestern National bank of Portland. The amount quoted is the equivalent of tbe foreign unit in united t-tates iubbi; Country. Foreign Unit. Austria, kronen Belgium, francs . Bulgaria, leva Czechoslovakia, kronen ..... Denmark, kroner England, pound sterling Finland, rinmarK France, francs Germany, marks.... Greece, drachmas... Holland, guilders... Hungary, kronen.... Italy, lire .lugo-Slavia, kronen. Norway, kroner Portugal, escudos . . Roumania. lei ..... Serbia, DInara Rate. . $ .0O24 . .0708 . .0132 01.111 . .1700 . 3.920O . .0293 . .0720 . .0166 . .0708 . .3447 . .0028 . .037: . .0073 . .1070 . .1 OS; . .0144 .0283 Chicago Livestock Market. rnnrroo March 10. Cattle Receipts, 10.000: calves. 50c higher, others generally steady: ton beef steers. $10.70: bulk. $8.73 f 10.20; bulk fat cows and heifers. $6.00 8.00; bulls, largely $J.25 ji 6.25; bulk veal calves. $11. 00& 12.00; bulk stocker and feeder steers. $7.759.00; $9.75 bid on choice heavy feeders. H,ir Receiots. 27.000: lights. 15c to 25c higher and all sold early; others aiow, mostlv 10c to 15c higher, top. $11.55; bulk, 200 pounds down. $1 1.23 6 11.50; bulk. 220 pounds up. $10.20&10.90; pigs, steady to 15c higher. Sheep Receipts, 18,000; killing classes opening steady to strong; lambs, top, early, $11.00 to city butchers; 100 pound shorn lamhs. $8.00: bulk fat wpoled lambs early, tl0.00a.10.50; choice '107 pound yearlings, $8.00; good lOii pound shorn wethers and yearlings, $6.00(5)7.00 respec tively; good to choice 105 pound ewes, $6. Omaha Livestock Market. ' OMAHA. March 10. Hoga Receipta. 16,000; mostly steady to 10c higher; bulk, medium and light butchers. $10.0010.40. top, $10.50; bulk, strong weight and pack ing grades, $9.60 9.00 Cattle Receipts. 670O: beef steers and butcher stock, steady to 15c lower; spota 25c lower; top beef steers, $0.90; veals, stockers and feeders, generally steady. CHICAGO, March 10. Strained indus trial conditions had a bearish effect to day on wheat. Prices closed heavy. lc to 2c net lower, with March $1.06 ana May $1.67 to $1.ST. Corn lost c to 9 c and oats c to c. In provisions the outcome was unchanged to 10c lower. Despite temporary bulges, due to revival of talk about crop damage by green bugs and to word of some new export business. tbe market displayed no sustained buying Power, and there was active selling pres sure. Confidence by bulls seemed to be Impaired by tbe evident prospect of wage differences on. a large scale. In addition to a threatened strike in the meat pack ing Industry, notice was taken of a walk out of boatmen at New York and of possible labor trouble among 'the flour mills at Minneapolis. Lower prices, how ever, came oniy after announcement that another of the largest railway syetems had taken steps toward a ' downward re vision of wages. The market closed practically the day's bottom flrgures. Corn and oats declined In sympathy with wneat. Packers' selling more than ' counter balanced in the provision market the stimulus of higher quotations on hogs, The Chicago market letter received yes terday by the Overbeck & Cooke company 01 Portland said: Wheal It was a weak market on a small volume of trade and closed at bot tom figures. The reports of a foreign de mand which caused the advance yester day were contradicted in advices today telling of large French purchases in'Ar gentina, where the priee is relatively lower than in America. A significant item was the announcement that sales of Argentine wheat, unless otherwise specified, are not to the buyer and that there will be no surtax at present. Toward .the close the unsettled condition of the New York stock market had a disturbing influence on sen timent and induced scattered liquidation of long contracts. Numerous green-bug stories were circulated, but the territory covered was small and unimportant and with- highly favorable reports over the large producing states there Is little at tention being given these calamitous re ports. Since the publication of the gov ernment report the statistical, position of wheat in this country is no longer a mat ter of . doubt and it is very clearly an ar gument in favor of lower prices, especially considering the fact that wheat is rela tively higher than other commodities, based on erroneous impressions that for eigners had taken enough wheat out of the country to create a close adjustment of supplies. Corn Althongh the range waa narrow. the market had a weak tone and sagged persistently downward. Receipts of 318 cars met a sluggish demand and the spot trade basis -was again slightly reduced. Thevweak position of this market is em phasized by the fact that with May only 50 days away, the cash article is -selling about 4 cents under a delivery basis. Coun try offerings might diminish from time to time, but this is only a temporary fac tor. The surplus in first hands is tre mendous and its weight on the market must inex'itably be f eit. Oats worked irregularly lower with other grains, lacking important feature. Re ceipts were estimated at lid cars and cash prices about half a cent lower. Country offerings were limited. Rye futures were quiet and followed the action of wheat, desptte the report that exporters were bidding 23 over Chicago for NO. 2, track Baltimore. Leading futures ranged as follows: WHEAT. Open. High. Low. Close. $ 1.67 $ 1.69 $ 1.66 $ 1.66 1.00 s CORN. .71 .73 OATS. '.45 .4113. MESS PofiK. 22.35 22.35 21.95 LARD. 12.30 12.35 12.13 12.72 12.72 - 12.57 SHORT RIBS. 11.90 11.95 11.80 12.80 . 12.35 I 12.20 Cash prices were as follows: Wheat No. 2'red, $1.78: $1.71 tt 1.73. Corn No. 8 yellow, 70o. . . Oats No. z white. white. 4344. Rye None. Barley 71(f?80c. Timothy $3.75 9 5.25. Clover seed $1318. Pork Nominal. Lard $11.72. Ribs $11.2512.25. Ing of Santos cables and reports of smaller offerings from Brazil. The opening was 1 point lower to 10 higher and the general list closed at a net advance of 3 to 1 points. Closing bids: March, 5.58c; May. 6.8S0; July, 8.27c; September, 8.65o; Octo ber. 6.78c: December, 7.03c; January, 7.15c. Spot coffee quiet; Rio 7s. 666c; San. tos 4s, 9?9c. , QUOTATIONS OF DAIKI PRODUCE Market Prices Baling en Batter, Cheese and Eggs. SAN FRANCISCO, March 10. Butter Extras, 43c; prime firsts. 42 c Eggs Fresh extras, 36c; extra firsts, S6c; firsts, 3Sc: dirties, S3c; extra pullets, 32c; undersized, 81c. s Cheese Flats, fancy. 23c; rlats, firsts, 21 c; Young Americas, 30c. NEW TORK, March 10. Butter Weak; creamery higher than extras. 48 49c; creamery extras, 4748c; creamer? firsts, 43 47c- Eggs Unsettled, unchanged. Cheese Firm, unchanged. CHICAGO, March 10. Butter Lower; creamery extras, 46c; standards, 40c Eggs Lower: receipts, 14.481 eases; firsts. 804t30c: ordinary firsts, 2S29c; at mark, cases Included, 29 30c. SEATTLE, March 10. Egge Local ranch, white shells, 34c; ditto mixed col ors. 31i33c: pullets. 2Sc. Butter City cre-ameryy In cubes, 4Tc; bricks or prints, 4Sc; country creamery ex tras, cost to jobbers, in cubes, 44c; stor age, 38c. Dried Fruit at New Tork. NEW YORK, March 10. Evaporated apples, firm. Prunes, easy. Peaches, dull. New Tork Sugar Market. NEW TORK. March 10. Raw sugar, 6.02c for centrifugal. fine granulated. Refined, 7.75c for Duluth Linseed Market. DULUTH, March 10. Linseed on track and. arrive, $1.78. Cotton Market. NEW TORK, March 10. Cotton Spot, quiet. Middling, 11.60c. March . May. .. May... July... May... July... May... May... July. .. May. . . July.. 1.50 .70 .73 .45 .46 1.57 1.67 .70 .72 .44 45 70 72 .44 .45 21.95 12.17 12.57 11.80 12.20 No. 1 hard. mixed, 63 84c; No. 2 4545c; Kb. 3 FARM LOANS TO RESUME Klickitat Farmers Expected to Ask for Substantial Snms. GOLDEXDALE, Wash., March 10. (Special.)-The recent decision of the United States supreme court, which permits resumption, of making; of fed eral farm loans, will afford financial relief to many farmers In the Klicki tat valley who have, been hard hit by the decline In the wheat market. When loans were discontinued ' In ADfll. 1920, applications totaling; $100.- 000 had been approved by tne loan"! committee of the local association. S. J. Smythe. secretary of the local association, states that, in his opinion. new applications will be made lor loans aggregating fully as much as for applications now pending. ine Klickitat Valley Federal Farm Loan association is said to be one of the larlrest in the state of Washington, owning 27,00 shares of stock dn the federal land bank at Spokane, and having loans out aggregating $551,000.4 DAILY METEOROLOGICAL " REPORT. PORTLAND. March 10.-righester teme. perature, 51 degrees; lowest. 41. rtiver reading. 8 A. M., 8.8 feet; change In last 24 hours, 0.3-foot fall. Total rainrall t5 P. M. to 5 P. M.), none; total -since Sep tember 1, 1920 37.08 inches; normal. 83.61 inches: excess. 3.47 Inches. Sunrise. 6:83 A. M.: sunsete, 6:10 P. M. Total sunshine, 4 hours and' 55 minutes; possinie sun shine, 11 hours and 37 minutes. Moonrlse (Friday), 7:15 A, M. : moonset trrioay), 8:88 P. M. Barometer (reduced to sea lov-aHl K p tut -h.93 Inches. Relative hu midity: 5 A. M., 87 per cent; noon, 74 per cent; 5 P. M., 73 per cent. THE WEATHER. Bond Department Chile will pay . 10& at maturity and 8 per cent interest per annum. These 20-year 8 Sinking Fund Cold Bonds are the General Obligation of the Republic of Chile Price 99 Yield OVER Chile has been borrowing money for a century practically, and has always paid her obliga tions promptly throughout this period. Her per capita debt of $50 is one of the smallest in the world, while her per capita wealth is $800. Her population totals over 4,000,000. Her capital city is larger than Portland. LUMBERMEN TKUST COMPANY Broadway and Oak CITY F WENATCHEE The commercial center of the nationally-known Wenatchee Valley. 7 Improvement Bonds District No. 83. t; PAR to net F7frfx 3 70 Income Tax Exempt Est, MaU,' 1922-33 The City of Wenatchee has a net general debt of less than 3"S of its assessed valuation, showing; how conservatively its bonds are, issued. Phone Broadway 5800 or Call for Circular Describing This Excellent Investment. 1 PORTLAND KEELER BROTHERS DENVER t Investment Securities UNITED STATES NATIONAL BANK BUILDING STATIONS. Vind SnAin. neeetas 1411 Sweden, kroner 2270 Switzerland, francs 1702 China-Honakona. local curency 45 Shanghtif. taels 6150 Japan, yen 4850 KEW TORK, March 1(1 Exchanse strong; sterling, demand 3.90, cables 3.9m; francs, demand 7.10, cables 7.17; Belgian francs, demand 7.46, cables 7.41; guilders, demand 34.30, cables 34.40; lire demand 3.68, cables 3.70; marks, demand J Argentine, demand 84.62; Brazilian, de mand 15.25; Montreal, 12 14 per cent dis count, Foreign Bonds. Foreign bond quotations furnished by the Overbeck & Cooke company of Portland: Bid. Asa. Russian 5t4, ln21 IS 1 Russian 5tis. 1S26 J0"i 124 Russian 64a. 11 10 19 French 6s, 10S1 65 6BVj French 4s, 1017 46 4H French 5s, 1020 6S4 tillVj Italian 5s. 1!'1 27 2 British 5s, 1022 S0 8112 British 6s, 1B27 3ll! 371 British 5s. 1!)29 306 878 British ref. 4s 206 278 British ref 4s 21.6 78 Belgium rest 5s 67 61 Belgium prem 5s 71 73 Oerman W. lu 3a 12 13 V4 Berlin 4s 15 154 Hamburg 4s 141 15 Hamburg 4hx 14 15 Lrtpslg 4Us 14? 16 I.eipslg 5s 15V 17 Munich 4s 1414 154 Munich 5s 37 1!) Frankfort 4s 1514 17 Jap 4s 64 64 Si .lap 1st 4.s 82 H 82 .lap 2d 4M:S 82 82 Paris sixes . . . . m. . . m. Sheep Receipta. IHtOU: sheep and lambs, atroigr to 25c higiier; 80 pound Mexican lambs, lin..'i; westerns. $10.00; ewe, $6.00 feeder supply It mi led, market mostiy steady. . Kama City Livestock Market. - KANSAS CITY. March 10. Cattl ceipts, "MHM): beef steers and fat she-Mock, steady to 2."rc higher; top yearlings. 10.00. best heavy teers, $9.t; Colorado pulpers, ! a. 2o ra . (,u: prime and neavy cows. la.W) choice heifers. $S.50; calves, strong;; good and choice vealers, 9.30 10.50: canners, bulls and stockers and feeders, dull; 1(X30 pound Texas feeders. $9.10. Sheep Receipts, 6O00; sheep and lambs mostly 2;c higher; ewes, $6.00; 83 pound iaJXibsi flO.d. Seattle Livestock Market. SEATTLE. March 10. Hos Receipt, none, fcteaay. rrime, lU-iH.o; me dium heavies, $.9.7o$t 10.75; rough heavies, o.i.i3 i..'o; pigs, $uwii.oJr Oattle Receipts, noire. weak. Prime steers, $7.5tKfj8: medium to choice. $67; common to good. $4.30 itr 6; beet cows and heifers, $6.1"i i0.75; medium to choice, $o &.; common to good, $3.50frn.5O; bulls. heavy $T-.ii07. SAN FRANCISCO PRODUCE MARKET Prices Current on Teretables. Fresh Fruits, Etc.. at Bay City. SAN" FRANCISCO, March 10. Vegetables Asparagus, lo(a2Hc; eggplant, southern. Si&lic; squash. Hubbard and marrowfat, $i(il5; potatoes, street prices, liver $1.75t32.20 No. 1, Salinas $2 853. sweets $i V l oo, iNancy Halls, Jtiitf ti.Ou; onions. Australian brown. 7590c; green $1,250 l.ou; cejery, (0.i.Du; garlic, TfclOc; cauli flower 40 W 00c; cabbage, lo lb.; bell pep pers otcpzuc; enne luiac; turnips oOc sack; beets $1.251.50 sack; parsnips. $2 ,'a..zti aacit; carrots aj&izo sack; peas. i .i-ic; rnuoaro, ios Angeles, si. Alameda, &610c lb.; iettuc Sl.Outg 1.75 crate; artichokes, 3Q90c dozen; spinach $lii.Vo crate. Poultry Hens 8438c; strictly young roosters tuwc, oia kqio; fryers 50 ig 55c; broilers 65 68c; ducks S035c squabs 80 Hoc; Belgian hares, live, 230 28c; jackrabbits $d(if3.i;5 dozen; turkeys, dressed fancy, 50 a 55c, poor quality lower; geese 3 35c. Fruit Oranges, navel $204.75; lemons $23.50; lemonettes $1.60 02; grapefruit $2y3.50; tangerines. $203.50; apples $1.50 H bananas h&ioc; avocaaoee $47.50. Receipts Flour. 20 quarters; barley, 1A0.036 centals; oats, 800 centals; beans. 2160 sacks; corn. 800 sacks; hay, 143 tons potatoes, 4423 sacks; hides, 17 bundles. CUT IN TAXES SOUGHT Citizens of Gray9 Harbor County Form Economy League. ABERDEEN. Wash., March 10. (Special.) After a meeting? yesterday of the executive committee of the Grays Harbor County Taxpayers' league, a call was issued for a meet ing Friday nlgrht in the council cham bers to perfect th' league organiza tion for protest against what are alleged to be excessive county taxes. "Under the tentative plans of the executive committee." said E. B. Benn, chairman, "every official of county, cty, town, school district, every of ficial of each department of separate municipalities, will be asked to pare" expenses to the bone in a campaign to reduce future tax burdens." Primary Receipts. CHfCAGO. March 10. Primary receipts Wheat, TOV.UUV Duahels against 32U.U00 bushels; corn, l,51ti.ouO bushels against &S4.000 bushels: oats. bushels airalnst 490,000 bushels. Shipments Wneat, 700,000 oushels aralnst :".;t.000 bushels; corn. 970.000 bushels against 42:1,000 bushels: oats, 35i,000 bush els ag-ainnt 060,000 bushel. Clearances Wheat, 6T7,000 bushe-le; corn, 129.000 bushels; oats, none; flour, 201,000 bushels. Minneapolis Grain Market, MINNEAPOLIS, March 10. Wheat March. 11.51 ; May, (1.50H. - Barley 50 70c. Flax No. 1. 11.79 1.81. Winnipeg Grain Market. WINNIPEG, March 10. Wheat May, 11.87; July. .11.72. New York Wbeat Market. NEW TORK. March 10. Cash wheat, $1.89 c 1. f. Grain at 8a a Francises. SAN FRANCISCO. March 10.- Wheat, feed S2.552.75; do. tllllnr. 12.70 $r2.90; barley, shipping, $1.50l.tto; do. feed, 1.201.40; oats, red feed, 11.45 I. 55; corn, white Egyptian, J-'. 80s 2. So; red mllo, $22.10; rye, nominal. Seattle Grain Market. SEATTLE, March 10. Wheat, hard white and sort white, $1.50; white club, $1.48; hard red" winter, soft red winter, northern spring and eastern red Walla, II. 45; big bend bluestem, 11.58. City de livery: Feed Scratch feed. $57 ton; baby scratch feed, $55; feed wheat, $80; all grain chop, $47; oats, $46; rolled oata, $48; sprouting oats, $51; rolled barley, $45; clipped barley, $49; milled feed, $34; bran, $34: whole corn, $40; cracked corn, $42. Hay Alfalta, $27 ton; double com pressed alfalfa, $33; do. timothy, $38; east ern Washington mlxea, $dt; straw, $2u; Puget Sound, $31. Coffee Futures Higher. NETT YORK, March 10. There were moderate rallies in the market for coffee futures ' today, owlna; to the better show- Baker Boise Boston Calgary Chicago Denver Des Moines.. Eureka Galveston .. Helena 'Juneau Kansas City. Los Angeles. Marxhtleld , Medford ... Minneapolis New Orleans. New York.. North Head Phoenix . Pocatello . . Portland . .. Roseburff .. . Sacramento St. Louis.., Salt Lake.... San Diego.-. San Fran... Seattle Sitka Spokane ... Tacoma .... Tatoosh .... Valdes Walla Walla Washington Winnipeg ... Yakima 3 40.00j. .IW fitio.mi . . N 50 0. 04112 W 24'0.30 12i.VE 52 o.oo:20;s 58 0.00)12 NW 5H,0.00i14SW 4H 0.00. .IN 61:0.00 14! K 20 0.341.. IW 22't4o:o.00l. .(NW 5S 0.00 12 H 5H:0.00. ,SW 52I0.0S . . NW 6210.00 . . NW 4-s o.nriSi.v 70 0.001. . SB B2:0.0O14-NYV C'lrar Clear Clear Snow Clear Pt. cloudy Pt. cloudy Cloudy Cloudy Snow Clear - Cloudy Cloudy Cloudy Clear Clear clear Clear 4 0.08124 NWiCloudy . 720.00,.. S Clear 500.0o'l4 StV Clear B10.00;i3 SW Cloudy 560. 00.. IN Clear 5410.00!.. IS Cloudy 560.0018S Clear RrtO.001. .I.VW Clear 62!o. 00,10, NW;Pt. cloudy 52 O.Ofll. .INW 40J 4C;0.0126iSW 341 460.00 18 SW 8SJ 46 0.04 16 SW t42 0.00. .INE 5010.00 16SW 54 0.001. .IS 14-0.00 .. NW Cloudy Clear Clear Pt. cloudy Cloudy Cloudy Clear Clear Clear Clear 54 Q.00. .jNW Clear A. M. today; Ing day. tP. M. report of preced- FORECA3T3. Portland and vicinity Occasional rain; northely winds. Orecon and Washington Rain west por tion, rain or snow andr colder east pory tlon; strong, gusty winaa, snuung lo norm erly Friday. Northwest storm warnings were ordered at 6 -30 P. M. Thursday for nil Oregon snd - - -, OUR BOND DEPARTMENT is equipped to give the same reliable, effi cient and courteous service in investment mat ters, which characterizes the service of every department of this bank. 'Our offerings include the highest type of gov ernment, municipal and corporation securities. 111 l Washington coast stations except Marsh- field. Livestock warnings, advising stockmen to be prepared fo runfavorable weather conditions, were Issued for all Eastern Oregon stations at 6:30 P. M. Thursday. Owner Finds Home Occupied. ABERDEEN, Wash., March 10. (Special.) A. J. Calkins, former Oak- ville resident who has been two years in California, returned Monday to find his home, which he had left locked and with windows boarded, occupied by a strange family, a man, woman and child. The house was opened up and occupied three months ago, when the scarcity of dwellings became ncnte. (coKsr.trAnvL 1 iiim 1 ! 1 in rn ' Tir-T iTrTMirWftt Ccassrv&tivo Where Fourth meets" Washington is the home of "A Conservative Custo dian." A safe and convenient place to do your banking. PJ it We Buy and Sell Liberty Victory Boeds All issues. Any amount. jpP SMITH CAMP CO. ROUND FIOOS) Lvs lamaaMS oilshsw Pi m and araaa war P.K.M. Rubber Heels and Soles See the big exhibit of the Port land Rubber Mills in our bank. "I know of no way of judging the future . but by the past." Patrick Henry. Present day con ditions have their parallel in former crises. Have you the time to analyze such data? Strong 6 HacHaughtoh COHBETT BUILDING PORTLAND OREGON ADVERTISE OREGON Oregon's Front Yard! Oregon made goods have a splendid mar- ket at their very front door. , , Why not culti vate it through good advertis ing in a force ful, telling way? Hall St Emory Agency Incorporated Merchandising Counsel snJ ADVERT1SIXG PORTLAND, OREGON Phone Marshall 220 ADVERTISB OREGON PRODUCTS TRUST CCKFiUrr Broad w-ay and Oak A California Example There are about 600,000 car in California, with an average annual tire up keep of JlOO. If all roads usea were hard-urfaced. a s a v i n g- of tl2.000.000 an nually would appear in favor of the resilient, bituminous type of pave ment, because there is at leant 20 per cent less tire wear over resilient pave ment than over one that Is rigid. Resiliency is one of the great virtues of WARREN IT E BITULITHIC Republic of Chile External Loan Sinking Fund 8' Gold Bonds Due Feb. 1, 1941 Sinking fund sufficient to re deem entire issue at or before maturity. In Kno and J10O0 denominations. Offered If. as. and when Issued at price to 1 yield about 8.21 to maturity. Circular on request for OR-37 The National City , Company Offices In more than 50 cities Portlnnd Venn It Ida". Telephone Alain 6073 1