Morning Oregonian., March 18, 1921, Page 21, Image 21

TIIE MORXING OREGONTAX, FRIDAY, MARCH 18, 1921
2t
IS
Federal Action of Some Kind
Needed by Industry.
DEMAND LOCALLY IS SLACK
Eastern Markets Are Adversely Af
fected by Large Imports of
Wool From Abroad.
No business has been done In the local
wool market this week, according to
dealers reports. Shearing has started in
the earljr districts, but the new clip Is
not attracting attention. Wool men were
chiefly Interested yesterday In the news
from WahlnKtonthat Secretary of Agri
culture Wallace will submit to President
Harding a report favoring1 an embargo on
imports of foreign wool. It is the opinion
that either an embargo or a strong tariff
Is necessary to put the wool Industry again
cn its fret. I
The little business that Is passing In the
east, according to the latest advices, docs
not show any betterment of values. It is
not believed that manufacturers hold any
great stock of wool and the revival of
business, which seems fairly well assured,
will, dealers believe, bring wool users into
the market, but the large quantities of
wool now in this country, plus the imports
which are now arriving ahead of tariff en
actntent and the entire domestic clip which
is about to be shorn, probably impress 'the
mill man with the adequacy of supplies
available and check htm from forcing the
market up against himself.
Some half-blood Montana wool was sold
In the Boston market on the basis of
fO cents clean. This was a good lot and
the price is regarded as significant, since
some other lots of half-blood are held for
as high as 85 cents scoured, with no sales
reported. Some good-sizd lots of terri
tory wool in the original bags have
changed hands, but the basis Is the same
as heretofore quoted. Good territory is
quoted In the grease at 34 cents for fine
staple, 32 cents for half-blood staple and
7 fe. Sc for fine and medium clothing.
Average and Inferior sorts of the same
grades are not in demand. Manufactur
ers are very partial to the choice sorts.
In fact It is Intimated that they can do
better in foreign wool, when they want
other than choice staple.
The wool growers of New Zealand are
expecting to carry at least three-fourths
of the Jft0-2t clip until the surplus held
by the British government can be dis
posed of at a reasonable price, according
to the American consul at Auckland. To
assist In this the New Zealand government
proposes to support the banks, and It Is
expected that the banks will finance the
woot growers at as low an interest rate
as possible. It Is estimated that the re
ceipts for the present season's wool clip
will be 35,O(K,)0 less than the receipts
in either the 11)18-19 or lft!9-0 seasons.
WHEAT MARKET HAS WEAKER TURN
Loral Bid, Are Reduced 1 to t Cent.
Coarse Grains Dull.
The wheat market did not hold Its' ad
vance yesterday. Markets were weak at
all points. On the local board bid prices
were l(-c lower than on Wednesday and
trading; throughout this section was lighter.
' The coarse grain market was very dull.
Oats bids were reduced 50c 1 and corn
5&75c. Offers for barley were unchanged.
- Two cargoes of durum wheat.' according
to Chicago reports, were worked for the,
Greek government. The durum w&s )n
Kpw York and could be sold at a better
price than it could be laid down from the
west.
Plate wheat was offered yesterday morn
ing at 77s against 81s for American c. I. f.
England. The break in South American
exchange was partly responsible for this
discount. Broomhall cabled: "The Buenos
Aires market opened firm, but due to the
fall In exchange rate this advance only
equals in American . money Hlc a
bushel."
Argentine estimated shipments this
week: Wheat. 3.14S.0O bushels; corn, 880,
000 bushels; oats, 70U.0U0 bushels.
The French wheat, rye and oats acreage
now under cultivation has Increased almost
a million acres during the past year, ac
cording to statistics of the French com
mission. The Minneapolis Miller Is quoting a
leading brand of flour at 40jj50c higher.
Rye flour is unchanged to 40c higher.
Terminal receipts, in cars, were reported
by the Merchants' Exchange as follows:
Wheat. Bar. Fir. Oats. Hav.
Portland. Thurs. 0: ... 1 ... 16
Year ago 30 . . . 3 1 '2
Season to date. .12. fist! 20!) B3S 423 10B7
Year ago 6,83!) 109 3J66 412 1001
Tacoma. Wed... 4 ... 1 ... 0
Year ago 17 ... 17
Season to date.. S.70S 47 752 108 756
Year ago 6.100 72 2300 158 727
Seattle. Wed 2 ... 1 2 4
. Year ago 17... 2 7 11
Season to date.. B.II08 101 802 826 1145
Y ear ago 5,2-10 230 638 022 1121
OLD FIRM IS REORGANIZED
Bond A Goodwin, Commercial Paper
Brokers, Enlarge Field.
Trailer of the entire Paclflo const
business of Bond A Goodwin, one of the
oldest of the commercial paper and In
vestment corporations In the United
States, to the newly-established corporation-
of Bond, Goodwin & Tucker, Inc.
Kan Francisco, was announced here yes
terday. The official statement was re
ceived by Harold O. Decker, In charge of
the Portland office of the corporation,
United Htates National Bank building.
The official announcement conveys the
Information that the new corporation has
elected the following officers: Thomas F.
Baxter, chairman of the board; president,
N'ion R. Tucker: vice-presidents, w. Pres
ott bmlth. Thomas B. Eastland and
Leigh M. Battson; secretary and treas
urer. Benton CI. Wood. These, with the
inclusion of Carey S. Hill f Lot Angeles,
.re directors.
Aside from Its Portland branch there
re office In Los Angeles and Seattle,
and through connections with Bond &
Goodwin, in Boston, New York, Chicago,
Philadelphia, Pittsburg, Minneapolis, St.
Paul rnd Atlanta.
EGGS ARE BOUGHT AT 24 CENTS
Jobbing Trade Small as Retailers Get
Supplies Direct.
Egg receipts were.' large yesterday and
most of them were taken in by receivers
at 4 cents. The market was weak and
some were talking of lower -bids for today.
Jobbing business In the city Is small and
the majority of retailers are getting their
eggs direct from farmers.
Cube butter was slow and asked prices
were unchanged. A fair business was re
ported In prints.
There was a good demand at firm prices
tor In llinited arrivals of poultry. Dressed
pork was also firm, but veal continued
weak.
LOCAL APPLE TRADE Ig , BETTER
i. . -Large
Extra Fancy Winesapa Quoted l'p
to ft by Dealers.
There bas been a better local movement
In apples tMa week, particularly New
towns. Large size extra fancy Wlnesaps,
which are acarce, have been advanoed by
some Jobbers to (4 a box. -
Three cars of , Oregon Wlnesaps were
old at auction at New York, extra fancy
large bringing .2.35 02.00. mostly 12.850
2.50, and medium 11.602.15. Northwest
ern apples sold to New York Jobbers at the
following range: Wlnesaps, extra fancy,
large, I44.50. mostly 4.25, medium t3
S.7A.- mostly 3. 25 fc 3.50. small 2. 25 2. 75,
mostly J2.25W2.50. Newtowns, extra fancy,
large, J3.i0ff3.75. medium. 2. 50 if 2. 75,
few 13. small 1292.23. fancy large 5ff
WOOL
EMBARGO
m ory s
i w a mmmv a- w
5 25. mostly $3. medium, $2.2592.60. small
mostly $2; Mcintosh, fancy and small to
medium,. $3.35 4, mostly $3.50 3.75.
In the Chicago market, where boxed
stocks were heavy, the following prices
were quoted: WinMaps, extra fancy, large,
$3.50 (& 3. 75, medium 33.25, small $2
2,75, fancy,, medium to large, $2.753.50;
Newtowna, extra fancy, small to medium,
slightly scalded, $2&2.fi0; Romei, ?xtra
fancy medium to large, $38 75; small to
medium, $2.25 2.75.
tfheat Shipment Increased.
World wheat shipments last week, and
the same week last year, were:
Wk. end. Wlc. end.
Mar. 12.'21. Mar. 13.'20.
IT. a and Canada.... tf. 514.000 3.913.000
Argentina 1.20.000 4,037,000
Australia 3.3M.O00 2,500,000
Ulhra 4b0,00U .
Total 1.1.47.000 10,450,000
Shipments for the iieaaon to (late cum
pare as fellows:
Total since Same period
July 1,':!0. last season.
U. 8. and Canada. .811), OOT.onO 21M.877.0U0
Argentina 4U.803.UOO 137.115.000
Australia 30.UX.000 75.558.0UO
Others 8.1118.000 1.812.000
Total
413.318,000 43,3B2.000
Bank Clearings.
Bank clearings of the northwestern cities
yesterday were as follows:
Clearings. Balances.
Portland $4.u!,740 $1,0:13.450
Seattle 7,513,183 1.U25.B27
Tacoms 74.7:tO 147.9BS
Spokane 2,545,340 720,987
PORTLAND MARKET QUOTATIONS
Grain. Floor, Feed, Etc.
Merchants' Exchange, noon session.
Bid
Wheat March. April. May.
Hard white 11,44 $1.44 $1.45
Soft white 1.42 1.4.1 1.43
White club 1.42 1.43 1.43
Hard winter 1.38 1:1!) 1.30
Northern spring 1.37 1.38 1.38
lied Walla 1.37 1.38 1.33
Oats
No. 2 white feed 34.50 34.50 34.50
Gray 33.00 33.00 33.00
Barley
Brewing .12.00 '32.00 32.00
Standard feed 30.00 30.0O 30.00
MIMrun 26. 00 n 1)6.00 25.00
Corn
No. 3 E. Y. shipment.. 31.26 31.25 31.00
No. 3 Y", delivery 31.00 31.00 31.00
FliOUR Family patents, 9.80: bakers'
hard wheat. $0.50: bakers' blue-item Det
ents, $1); valley patents. $7.90; whole
wneal, $8,211; graham. $8.05.
MILI.FEED Prices f. o. b. mill: Mill-
run. 2!r per ton rolled bRrley. $4143;
rolled oats. $43; scratch feed. $55 per ton.
CORN Whole, $30; cracked, $42 per
ion.
HAY Buying prices t. o. b. Portland
alfalfa, $10 per ton; cheat, $2223 per
viuvfr, ju; vauey timothy, $2o26;
eastem Oregon timothy, $27.
Dairy and Country Produce.
BUTTER Cubes, extras, 40c; prints,
parchment wrapped in box lots 45c: ear.
tons, 40c. ButterfaVbuying price A grade
42c; B grade, 40c Portland delivery.
'"""a uuying prices, case count, 24c
delivered; Jobbing prices to retailers, can
dled ranch, 282Dc; selects. 30&31c
('HBB.SK Tillamook triplets, price to
Jobbers f. o. b. Tillamook, 33c: Young
America. 84c lb.
POULTRY-Hens, 27S30c; ducks, 45
0c; geese, 25c;-turkeys, live, 35c; do
dressed. 455Uc. '
POKK Fancy, 16c per pound.
v AL Fancy, 17 i tgi 18c.
Fruits and Vegetables.
FRUITfl Navel oranges. $.1.0005 50;
lemons. $:l.254.50; grapefruit. $3.50feS.50
Per box: hnriMnna 1lAiii- ,7
. , ; t j-ci yuuuu; ap
ple, $1.4 per box.
EoETABLES Cabbage, 23 per
pound; lettuce, $4.00 per crate; carrots.
. , ...in, i.iui; pouna; Deeis,
$1.;0 per sack; cauliflower, $1.502.23 per
crate; celery. $5.2.u per crate; green
peppers. 3(4f40c per pound ; rhubarb, 10
-oo pound; spinach, $l1.2o per box
turnips. $2.00 per sack; sprouts, 20625c
pound: tomatoes. $3 per lug; cucumbers.
$ !4 per doien; peas, JWc pound; aspara
gus, 30c pound.
POTATOES Oregon, $101.25 jr oo
pounds: Ynklrr... i t-.. r . ..
$.t.i. per hamper.
u.MUAa-uregon, $1ffl.50 per sack.
Staple Groceries.
Local jobbing quotations:
SL'GAK IjKiclc h.iui ranA
9c per pound; beet, 8 0c per pound
NUTS Wnlmita 1 A '(-... . r.
34c; filberts. 1521c; almonds. 2830c-oeamir-
liir.lir. ...... 11. . - .
dozen;- pecans, 23c; hickory nuts, IOJ4C
HONEY Comb, $7.75 per case.
KICK Blue Pnu et. -
r - - " 'Z c 1 uvuqu:
Jaunn sayle. ic per pound. '
".T"""" wnite. 5)4c; largre white,
u&c; pink, 4c, lima, 814c; bayou, 1114c:
red. 7c per pound.
COFFEE Roasted, bulk, drums. 1436c
per pound.
SALT Granulated, bale, $3.50i4 23
half ground ton, 50s, $17.75; 100s, $15 50;
lump rock, 2B.
DRIED FRUITS Italian prunes. TUc
pound: dates. I.t TSAT no- K . ...'
4.o per box.
Provisions.
HAMS All sizes. 2!)fil3.- .1ilnn.j a
34c: picnic, 17ft luc; cottage roll. 28c.'
BACON Fancv. 4-2GiZir- -h.i 00 s,
31c; standard, 25ffl27c. '
LAK1) Pure, tierces. 17'Ae nm.nrt-
pound, tierces, 12'cc
UKI SALT Backs, 22ig25c; plates, 18c.
Wool, Hops, Etc.
WOOL Nominal.
TALLOW-No. 1. 5c: No. 2. 4c pound.
CASCABA BARK 1920 peel, 8c pound.
HOPS 1020 crop, 12 & 15c per pound.
MOHAIR Nominal.
GRAIN BAGS Carlots, 7c. coast.
Oils.
LINSEED OIL, Raw. In barrels. 84c:
5-gallon cans, $1.00. Boiled, in barrels.
06c; 5-gallon cans, $1.11.
TURPENTINE In drums. B4o: 5-eallon
cans. $1.09.
COAL OIL Tank wsgons and iron bar
rels. 17 He; cases, S037c.
oasolinis Tank wagons ana iron bar
rels, 30c; cases, 42c.
QOCTATIONS. ON. DAIRY. PRODCCE
Market rrices Ruling on Butter, Cbeese
and Eggs.
SAN FRANCISCO, March 17. Butter
Extras, 40c; prime firsts, nominal.
Eggs Fresh extras, 32c; extra . firsts.
30c; firsts, 2!) lie; dirties, 29c; extra pul
lets, 2Uc; undersized, 2tHic.
Cheese Flats, fancy. 24c; firsts. 22c:
Y'oung Americas, 2tiQx27tac
NEW YORK, March 17. Butter steady;
creamery higher than extras, 45$H5c;
creamery extras, 44c; firsts. 4144c.
.Rg3 Steady. Firsts. 29 is to 31c; others
unchanged.
Cheese Irregular; state, whole-milk
flats.-held specials 28ffi29c; state, whole
milk flats, fresh specials, 2526zc.
CHICAGO, March 17. Butter, lower.
Creamery extras, 43(3 4:lXc;. standards. 4(c.
Eggs Lower. Receipts, 19.904 cases;
firsts, 2728c; ordinary firsts, 254?20c;
at mark, cases included, 2627c
SEATTLE. March 17. Eggs Select
local ranch, white shells, 34c; do. mixed
colors. 31i&:i3c; pullets, 29c.
Butter-r-Clty creamery. In cubee, 44c;
bricks or prints. 45c; country creamery ex
tras cost to Jobbers, in cubes, 41c; stor
age 38c.
SAN FRANCISCO rRODft'E MARKET
Prices Current on Vegetables, Fresh Fruits,
Etc., at Bay City.
SAN FRANCISCO, March 17. Vegetables
Asparagus, 8&lic; eggplant, 5(&-8c; po
tatoes, street prices, rivers, white. No, 1,
$1.7562.25; Salinas. $2.853; sweets, $7
(it 10; Nancy Hall, $tli&'6.50; onions, Austra
lian Brown, 50c; green, $1.25trl.50; celery,
$1.5003; garlic, 710c: cauliflower. 40
60c; cabbage, lc lb.; peppers, bell, 7l(te;
chill, lnitfl.'.e; turnips, $2&2.25; carrots,
$lrl.25: peas, Gltlcl rhubarb, $1.75
2.25; Alameda, 110c: lettuce, $1.7562;
artichokes. 30&90c; spinach, 34c.
Fruit Oranges, navel. $24.75; lemons,
$593.50; leimonettes. $1.502; grapefruit.
.$2fo?3.50; limes, nominal; tangerines, $2
$i'3.50; Newtown apples. $1.403; bananas,
OtflOc; avoradoes. 4iB8.
Poultry Hens. 37&40c: strictly young
roosters, 40ft)42c; old. 22 25c; fryers. 55
&60c; broilers. 4RB8c; ducks, 3035c;
squabs. 80(85c; Belgian hares, live. 25
28c; "Jackrabbits, $3(3.23 dozen; turkeys,
dressed, fancy' 5055c; live, nominal;
geese. 32035c.
Receipts: Flour ' 4486 quarter barrels;
beans. 2546 sacks; barley. 385 centals;
corn, 1307 centals; oats, 2715 centals; po
tatoes. 10A2 sacks; hides, 637 bundles; hay,
70 tone; oranges and lemons, 2000 boxes;
livestock. 16 head.
Winnipeg Grain Market.
WINNIPEG, March IT. Wheat May,
$1.78; July, $1.67?.. ;
LIBERTY BUS M. FIRM
FURTHER RECOVERY SHOWX
IX WALL STREET STOCKS.
Oil, Motor Equipment and Food
Shares Are Strongest Features.
Money Continues Easier.
NEW YORK. March 17. The stock mar
ket was under occasional selling pressure
today. Lost ground was recovered later
on the support accorded favorites In the
oil, equipment, motor and food divisions.
Features of the rebound embraced Gen
eral Asphalt, Mexican Petroleum. General
Electric, Studebaker, Chandler and Ameri
can Sugar.
In general the day's movement Indi
cated that the recent rally rested largely
on an over-extended short position. Sales
were 825,000 shares.
' The money market repeated the easier
trend of the previous day.
Mixed conditions ruled in the broader
an4 more active bond market. Liberty
Issues were firm, but some of the domestio
rails and foreign war flotations Were dis
posed to react. Total sales, par value,
$11,350,000.
CLOSING 6 TOOK QUOTATIONS.
Last
Sales.
3,300
1,200
700
100
3.4O0
1.2O0
4.400
2.800
High.
Low.
4ltt
Sale.
4-3
29
122
44
42
8B
89
92
80
102
. 65
8
88
81
2
80
33
S
11
42
114
39
79
Am Beet Bug
American Can
Am Car & Fdy
A H & L. pfd
Am Inter Corp
Amerlcn Loco
Am Sm & Rfg
Amercn Sugar
Am Sum Tob
Am Tel & Tel
Amer Woolen
Am Z, L. & S.
Anaconda Cop
Atchison
Atl. Gf & W I
Baldwin Loco
Baitl & Ohio
Beth Stl "B"
Bt & Sup Cop
Cal Petroleum
Canad Pacific
Centrl Leather
Chand Motors
Chesp 4 Ohio
Chi. M & St P
Chicg & N W
Chi. R I ft P
44
2'4
122
4414
43
8UK
41
93
80
102
ft".
8V4
88
81
34",
87",
S3H
58
11 '
42
114
SOI,
79
584
254
6V4
25
21
27
72
814
153
134 4
13 'A
74
87 4
33 "4
50-4
14
5074
23
28
121
4V4
4174
8.5
39 14
91
7914
10174
64
8
3714
81
30
86 '4
32
66
il
40
11:314
i.8
73
5814
25
66
2-5
20
27
71
8B
?3
12
132
12
72
87
32
4!)
14
0574
22
17
144
17
12
30
18
9 74
68
14
96
78
. 3
69
36
5 74
3 2
7
66
62
41
22
73
20
107
63
41
20
48
8
116
21
67
40
68
80
109
40
8
46
7
4,300
3.5O0
8,000
300
1,80
1.700
75.1)00
13.100
2.80
4.100
100
7,200
800
1.000
24,300
7K)
1.000
3110
2.800
1,400
100
5.200
12.200
2. .WO
4,000
700
23.800
2.2lO '
100
BOO
500
2 800
2,400
1.200
1.2O0
82.800
1.2O0
3.100
00O
1.500
TOO
2.700
24,000
600
4.700
l.sno
88
25
66
25
20
27
ri 0
87 74
24
12
134
13
7
87
32 74
50
14
50
22
17
14
17
12
S0
18
9
6!)
15
96
79
3
70
86
26
12
67
06
63
41
22
74
Chino Copper.
Colo Fl & Irn
Corn Products
Crucible Steel.
Cuba Cne Sug
Erie
Clenrl Electric
Generl Motors
Ct North, pfd
Illinois Central
Inspm Copper
Int Me Ma pfd
lnternl Nickel
InterntI Paper
K C Southern
Kenne Copper
Mex Petrolem
Miami Copper
Mid States Oil
Mid vale Steel.
Missouri Paclf
Nevada Coppr
N Y Central
NYNH&H . . .
Norflk & West
North n Pacific
Ok Prod & Rfg
Pan-Am Petri
Pennsylvania. .
Pitta & W V'a
Ray Con Cop
Reading
Rep Irn & Stl
Rvl Dtch. N Y
Shell Tr & Td
Sin Oil & Rfg
Southn Pacific
South Railway
S O. N J. Pfd
Stur'ebkr Corp
Texas Co
Texas Paclf
Tobc Products
Transcontl Oil .
Union Pacific.
TT S Fd Pdts
U Tnd Alco
V S Rtl Store
1774
14774
. 174
12-4
30 Vi
IS
10
70
16
!t4
80
3
7114
7
26 '4
12
70
67 'i
:l4
41
23
74 74
21
107'4
67
"1
51
8 '4
31714
2174
6.SI4
52
70
80
ll)!)
49(4
87
47
n.ooo
18.21)0
400
700
7.500
3.0DO
2.400
1.000
2.200
6 200
2.0U0
4lK)
Sfl.soo
9,WI0
IV W
15.200
2, BOO
2.4O0
000
700
7.4UO
8.000
14.3'iO
4110
3.5U0
300
700
e.000
20 4
117 14
66
41
20
49
8
117
21
68
50
6S
so
109
411
86
47V
8
U S Rubber..
U S Steel
V S Steel, pfd
Utah Copper..
Western Union
Westg Electric
Willys - Over
8 '4
BONDS.
U S 2s reg....,100'N P 4
do coupon ...!)N P 3s
U S cv 4s cpnM04iPac T ft T 6s..
Pan 3s cpn 80Pa con 4s...
A T & T cv 6s.. 96 S P cv Rs
Atch gen 4s 77!So Ry 5s
D ft R O con 4s B3;U P 4s
NYC deb 6s.. 89 U S Steel 5s...
73
54
83
86
92
84
80
95
Bid.
Mining; Storks at Boston.
BOSTON, March 17. Closing quotations:
Allouez 19INorth Butte ... 10
Arii Com 714lOld Dom 18
Cain & Aril ... 45 Osceola 25
Calu ft Hecla. .220(Quincy 38
Centennial 8ISuperior 3
Cod Range 82 Sup & Boston.. 8
East Butte ... 8;Shannon 1
Franklin 2 1 tan con 4
Isle Rovalle ... 19 IWinona 50
f - MrJlV.lu.rin. 11 U
1 HE ' ' (' C 1 ... ,th ........ ..... - " I
Mohawk 46 IGreene Can ... 20
Liberty Bond Quotations.
NEW YORK. March 17. Liberty bond
quotations closed as follows:
SV-s, $90.42. First 4s. $67.20: second 4s,
$87 02. First 4s. $87.50; second 4s,
$87.16; third 4s, $90.28; fourth 4s,
I8T.30. Victory 8s, $97.28; Victory 4s,
$97.3.
Money, Silver, Etc.
NEW YORK. March 17. Prims mercan
tile paper, 77. .
Time loans steady; 60 days, 90 days and
six months, 67 percent.
Call money easy. High. 7: low, 6;
ruling rate, 7; closing bid, 6; offered at 7;
last loan, 6.
Bar silver, domestic. 99 e; foreign,
65c.
Mexican dollars, 42e.
LONDON. March 17. Bar silver S2d per
ounce; money, per cent; discount rates,
short bills, 7 per cent; three-month bills,
6 per cent
Foreign Exchange.
Foreign exchange rates at close of busi
ness yesterday, furnished by Northwestern
National bank of Portland. The amount
quoted is the equivalent of the foreign
unit in United States funds:
Austria, kronen .....$ .0058
Belgium, francs 0740
Iluiiraria. leva 0138
Czecho-Slovakla. kronen 0.135
Denmark, kroner 172$
Kngland, pound sterling 8.92
Finland, fininark 0277
France, francs .0706
Germany, marks - 0164
Greece, drachmas .0763
Holland, guilders 3452
Hungary, kronen 0028
Italy, lire 0401
Jugo-Slavia. kronen . .0074
Norway, kroner .1611
Portugal, escudos 0965
Roumaqia. lei 0140
Serbia, dlnara 02S7
Spain, pesetas 1401
Sweden, kroner 2290
Switzerland, francs . .1752
China Hongkong; local currency.. .4650
Shanghai, taels 6200
Japan, yen .4825
NEW YORK. March 17. Exchange ir
regular. Sterling." demand. $3.90; cables,
$3.90; francs, demand, 6.95; cables, 6.97;
Belgian francs, demand, 7.27; cables, 7.29;
guilders, demand, 34.25; cables. 34.35; lire,
demand. 3.87: cables. 8.89: marks, de
mand, 1.58: cables. 1.59; Greece, demand.
7.52; Argentina, demand. 34.00; Brazilian,
demand, 14.00; Montreal, 12 per cent
discount. '
Foreign Bonds.
Foreign bond quotations furnished by
the Overbeck ft Cook company of Port
land: -
Bld.Ask.
Russian 5s, 1921 14 16
Russian 5s, 1926 9 11
Russian 6s. 1919 15 19
French 6s. 1931 64 B8
French 4s. 1917 65 67
French 5s, 1920 67 VI 09
Italian Bs. 1918 27 29
British 6s. 1922 380 892
British 5s, 1927 370 .182
British 5s, 1929 3B8 3S0
British vky. 4s 290 305
British ref 4s 265 277
Belgium rest 5s 68 68
Belgium prem Bs 71 72
German W. L. BS 11 13
Berlin 4a 12 13
Hamburg 4s 13 15
Hamburg 4s 14 15
Lelpsig 4s 14 15
lipsig Bs ... IB. 16
Munich 4s 13 15
Munich Bs 17 19
Frankfort 4s 15 17
Jap 4 62 64
Jap 1st 4 , 82 . 82
Jap 2d 4s 82 82
Paris 6s 96 ' 9614
U K 5s, 1921 99 99
U K Bs, 1922 : 94 94
U K 5s, 1929 87 87
U K 6s, 1937 85 86
Swift Co. Storks.
Closing prices for Swift ft Co. stocks at
Chicago were reported by the Overbeck ft
Cooke company of Portland as follows:
Swift ft Co tf.A - ..j.-.-... . 101
Swift International 28
Libby, McNeil ft Llbby 10
National Leather 8
Naval Stores.
SAVANNAH, Ga., March 17. Turpentine
steady; 50c; sales. SO; receipts, 84; ship
ments, 117; stock. 7566.
Rosin, firm; sales, 500; receipts, 80;
shipments. 657; stock, 71.724. Quote: B.
D. E, F. G, H, I, $4.25; K and M, $4.35; N.
4.50; WG, $4.75; WW, $0.
New' York Sugar Market.
NEW YORK, March 17. Raw sugar,
$8 72 for centrifugal. Refined, 8 cents lor
fine granulated.
Duluth Linseed Market.
DULTJTH, March 17. Linseed on track
and to arrive $J 71.
10 FORK
PRICES MAINTAINED FIRMLY
AT LOCAL YARDS.
Cattle, Sheep and Lambs Are Slow
at Cncbanged Quotations; 1AV
tie Stock for Open Market.
Livestock prices -were unchanged at the
North Portland yards yesterday. Eleven
loads were received largely hogs and most
of these were a direct shipment There
was a gobd demand for hogs and the mar
ket in this respect was firm. Otherwise,
trade was slow and the general tone of
prices v&lc ' y
Receipts were 3 cattle, 1 calf, 1225 bogs
and 30 sheep.
The day's sales were as follows:
Wgt. Price.) Wgt, Price.
8 steers.
3 steers.
1 cow. .
1 cow. .
1 calf...
1 calf . ..
2 calves.
1 calf..
1 bull..
24 hogs. .
13 hogs. .
8 hogs. .
6 hogs. . .
7 hogs. .
6 hogs.. .
1 hog...
1 hog . . .
1 hog. . .
fi hogs. .
5 hogs. .
1 hog. . .
1 hog...
8 hogs. .
4 hogs. .
3 hogs. .
hogs. .
896 $ 6.00118 hogs..
126 $11.50
813 6.301 6 hogs..
1B5
ISO
335
345
450
163
440
436
235
196
410
826
128
178
404
243
170
, 170
120
210
850
185
-2U0
12.25
850
780
160
220
105
120
1580
200
189
200
228
251
358
430
320
370
158
232
890
310
200
180
1B3
138
3.00 1 hog. ..
2.001 2 hogs..
13.50 2 hogs..
8.01)1 1 hog...
13 50 3 hogs..
12.00 1 hog...
4.50J 3 hogs. .
12.25) 4 hogs..
12.001 hogs.
11.751 1 hog. . .
12.00 32 steers.
11.75H8 hogs. .
11.50il4 hogs. .
8.001 7 hogs..
10.00110 hogs..
10.001 3 hogs..
12.00) 3 hogs .
11851 1 hog...
10-00111 hogs..
10.001 2 hogs..,
12.00104 hogs..
11.751 6 hogs. .
12.001 6 hogs..
11.601 3 hogs. .
12.10
8.00
10.00
8.00
12.00
9.00
8.00
11.50
12.00
9 50
. 6.50
18.50
12.00
10.00
12.00
12.00
12.00
11.50
12.00
8.00
12.00
11.50
12.00
11.50
170
113
115
29 lambs.
00
The following prices are current at the
local yard:
Cattle
Choice steers $
Medium to good steers
Fair to medium steers
Common to good steers
Medium to good cows, heifers.
Fair to medium cows, heifers.
Common to fair cows, heifers.
Prices.
7.75 8.25
7.00S) 7.75
6.25 7.00
6.251? 7.00
5.75 9 6.25
4.259 5.25
4.25 6 5.25
200 4.25
Canners
Bulls
3.5(S 5.00
12. 50 13. 51)
11. 50 ft 12.50
6.00 7.50
e.OOW 6.75
6.75 3.73
lt.50ffil2.00
11.00ll.o0
7.00 10.00
e.ooeio.oo
10.00 a-11.50
10.00 CP 11.50
8 50 9.25
8.00 8.50
U.50e 8.00
S.OOfr 7.50
4.00 6 00
7.00? 7.50
6.50 7.00
5. 50 6.50
1.00 4' 5.00
Choice dairy calves
Prime light calves
Heavy calves
Best feeders
Fair to good feeders
Hogs
Prime light
Smooth heavy
Rough heavy
Stags, subject in dockage . . .
Fat pigs
Feeder pigs
Sheep
East-of-Mountain lambs
Valfey lambs
Heavy lambs, 90 lbs. and up.
Feeder lambs
Cull lambs
Light yearlings
Heavy yearlings
Wethers
Ewes
Chicago Livestock Market.
CHICAGO, March 17. Cattle Receipts.
9000 head. Slow, opening generally steady
on all grades and classes; calves weak.
Bulk beef steers, 8.f0 9.75 ; bulk (at
cows and heifers, $5.757.75; canners and
cutters larpely $34.i0; bulk bulls. $r.25
r) B.25 ; veal calves slow ; bulk $ 10.50 &
1 1.50; stockers and feeders about steady;
choice meaty steers. $0.50; bulk, $7.75fffi9.
Hon- Receipts, 26,000 head. Active,
opened 10c to 25c lower; later practically
steady with yesterday's average; top
$10.50; bulk 200 pounds down. $10.1.Vo
10.45; bulk, 220 pounds up. $ft.gr9.75;
pics mostly steady; bulk desirable, 80 to
120 pounds. $1010.40.
Sheep Receipts, 17.000 head. Early
sales choice light lamb to shippers,
$10.25; steady. Nothing else done early;
talking lower; choice 96 to 107-pound
wooled lambs late yesterday, $7.76 8.50. .
Omaha livestock Market. -OMAHA.
March 17. Hogs Receipts,
11,500 head. Fairly active; mostly 2ft
lower; bulk, medium and light butchers,
$0.10(hi9.40; top, $0.50; bulk strong weight
butchers. 250 pounds and over, $8.750.10;
stock pigs, 100 to 120 pounds, at $0.75.
Cattle Receipts, 4200 head. Beef steers
nd butcher stock steady- to weak; top
steers, $0. 20; veals steady ; stockers and
feeders dull.
Sheep Receipts, 8000 head. Lambs
slow to 25c lower; bulk $8.50(0.25; best
lambs held at $0.75; sheep steady; best
wethers at $6.40; feeders steady, 75-pound
feeding lambs, $8.40.
Kansas City Livestock Market.
KANSAS CITY, March 17. (United
States bureau of markets.) Cattle Re
ceipts, 2500 head. Beef steers, 1525c
lower; top, $9.60; she stock, steady to 25c
lower, bulk $5.507.50; canners and bulls
weak; calves mostly 50c lower; good choice
vealers, $9 0.50; stockers and feeders
weak to unevenly lower.
Sheep Receipts, 8000 head. Light lambs
and yearlings around 25c lower than yes
terday's average : one deck light lambs,
early, $0.75.choice 84-pound lambs, $9.25;
87-pound clipped lambs, $0.25.
Feeder Cattle Rates Lowered. .
WASHINGTON, March 17. An informal
agreement to set aside during the summer
present rates on shipments of feeder cattle
from the southwest to pasturage in the
northwest and restore the tariffs existing
before the increase was made was reached
today between represntatives of the rail
ways and livestock organizations in con
ference with Chairman Clark of the inter
state commerce commission. The new
rates will be effective April 1 to July 1,
after the commission has received and ap
proved the new schedules.
The Following Banks
Iadd & Tilton Bank
U. S. National Bank
Northwestern National Bank
Bank of California, N. A.
Canadian Bank of Commerce
Hibernla Commercial & Savings
Bank
State Bank of Portland
Peninsula National Bank
Broadway Bank
Hartman & Thompson Bank
Peoples Bank
WILL RKCKIVE SUBSCRIPTIONS to the last offering of our Capital
Stock and will furnish copies of our new circulars descriptive of past and
prospective earnings nf this business in Portland. THIS OKPEH1XG IS
DIHKCT KROX COMPANY TO SLBsl'AIBERS. Full information upon,
request.
Portland Vegetable Oil Mills Co.
SOS Wilcox Balldlnn;, Portland, Oregon. Phone Marshall 808.
H. H. Ward, Director in Charge of Financing,
UR BOND
equipped to give
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.
giii
1VHKAT LOWER AT CHICAGO AS
SUPPORT IS WITHDRAWS.
Selling by Elevators Turns Prices
Down Grade Only Demand
Is From Shorts.
CHICAGO, March 1T.-S1rm of ehaus-
tion of buying power led to a stampede to
unload by holders in the wheat market
todar and caused prices to crumble. The
close was nervous, 1 to 8c net lower
with March 11.57 to 1.6TA and Way !.
to 1.48. Corn lost lc and oats
eio to 11HC Provisions Balnea zw
to 30c. .
It was evident that new incentives were
needed to bring about any decided prog
ress for bulls in wheat. Gossip was cur
rent that an embargo against importation
of agricultural products into "the United
States had been decided on by President
Harding, but there was no confirmation
and the moderate upturn failed to last.
Then renewal of misgivings concerning the
InriuKtrijtt nntlnok attracted notice. It
was at this stage that selling ascribed to
an elevator Interest weakened the morale
of the bulls and left the market bare of
buying orders except from ahorta
Corn and oats were firmer early wltb
wheat, but Quickly went lower when wheat
started down grade.
Some export business In lard had a
stimulating effect on the provision maraei.
Besides, fresh pork loins were selling at
the highest price this year.
The Chicago market letter received yes
terday by the Overbeck 4 Cooks company
of Portland said:
Wheat It was a dull market and In
cltned to flrmntss. It was about midday
when outside selling came Into the pit
and found support lacking. The news in
general had a bearish color, particularly
with reference to the prospective foreign
demand. Broomhall reported liberal pur
chases of wheat by Great Britain and the
continent In Argentina at SV4 shillings per
quarter under our prices and explained
the sudden change by the advance in our
market and the decline in Argentine ex
change rates. The improvement reported
in the domestic milling demand yesterday
was not apparent today, demonstrating
that the buying from this source is likely
to continue of a spasmodic sort. We con
sider, general conditions against sustained
advances.
Corn Had a weak tone all day and
closed around bottom. The cash market
started firm, but closed easy at half a cent
net loss. Much talk has been heard the
past two weeks of a let-up in movement
and no doubt there will be no heavy Influx
until after the completion of spring work,
but arrivals in Chicago continue to aver
age well above 00 cars a day and this Is
more than enough to take care of the day
to day demands, while at the same time
stocks are large and cash is selling at
discounts, which militates against con
structive endeavors in futures.
Oats Selling by cash interests was the
outstanding feature and resulted in a
rather sharp decline. Cash oats started
steady, but finished half a cent lower.
Shipping sales reported 40,000 bushels.
Rye Weakened late In the session In
sympathy with other grains and closed
at bottom prices. Cash rye was without
action, but a sale of f000 bushels was re
ported made to "a Baltimore exporter.
. Leading futures ranged as follows:
WHEAT.
Open. High. Low. Close.
Starch.. J1.S914 $l.o )1.5 $1.57
May 1.51 l.b-2 M 1.47 1.48
CORN.
Mar 9'4 .69V4 .68" .68H
July 71H .Ji .70s, .70
OATS.
May 4.1"4 .43 -H .42-H 44
Ju!y .44 .43 .43 V4
MES3 PORK.
May.... 20.60 20.90 20.60 20.80
LARD.
May 11. 6S 11.80 11.55 ltJIO
July.... 11.90 12.12 11.90 12.12
SPARE RIBS.
May..,. 11.45 11.50 11.32 1147
July.... U.B2 11.82 ll.0 llieO
Cash prices were: .
wl",ealT0- 2 nard- 'i-ss'iei-esi-No. i
mixed, $1.63.
iCxWw&"OW' 87668C:
Rye None.
Barley 0670c.
Timothy seed 4f5.50.
Clover seed $14 & 20.
Pork Nominal.
Lard 111.45.
Ribs J11I&12.
Primary Receipts.
CHICAGO. March IT. Primary receipts
-"fi' 8.000 bushels versus M0 OtS
SSfbeishePsat8' 4"'0 bU8he18
41)f n!meKtSrWheat 61"000 bushels versus
403.000 bushels. Oats. 40,000 bushels
versus 470,000 bushels. ousnels
Car lots Duluth Wheat, 44 versus 12
Corn, 14 versus 8. Oats. versus 0 Rye'
5 versus 31. Barley, none. Flax f versus
8. St. Louis Wheat. 42 versus 23. Corn
32 versus 60. Oats. 38 versus 29. Kansas
City Wheat, 80 versus 11. Corn. 65 versus
24. Oats, 13 versus 9. Minneapolis Wheat
188 versus 214. Corn. 29 versus 24 Oats'
1 versus 27. Barley, 30 versus 30. Rye'
14 versus 30.
Minneapolis Grain Market.
MINNEAPOLIS. March 17. Wheat.
March, $1.42; May. $1.42?,. Barley, 48
68c. Flax, No. 1. $1.72 1.75.
Grain at San Francisco.
SAX FRANCISCO. March 17. Grain
Wheat, feed. $2.552.70; do, milling. $2.70
i2.80; barley, shipping, $1.501.6.; do.
feed, $1.2061.37; oats, red feed, $1.4o$
1.55; corn, white Egyptian, $2.652.75;
red milo, $1.90&2; rye. nominal.
Hay Wheat, fancy, $20 21: tame oat,
$17019, wild oat, $1215; barley, $1215;
alfalfa, $17 20; stock. $1014.
Seattle Grain Market.
SEATTLE, March 17. Wheat, hard
white and soft white, $1.45; white club.
$1.43; hard red winter, soft red winter,
northern spring and eastern red Walls.
$1.40; Big Bend, bluestem,- $1.53.
City delivery: Feed Scratch feed. $57
ton; baby scraSnh feed, $55; feed wheat.
$0o; all grain chop, $47; oats, $46: rolled
oats, $48; sprouting oats, $51; rolled bar
ley, $44; clipped barley, $48; milled feed.
Geo. W. Bates &Co., Bankers
Citizens Bank
Bank of East Portland v
Bank of Kenton
Bank of Sellwood
Montavilla Savings Bank
Multnomah State Bank
First Nat'l Bank, LInnton
First State Bank, Gresham
Bank of Gresham
Title & Trust Co.
Peninsula Security Co.
DEPARTMENT is
the same reliable, effi
$34; bran, $34; whole corn, $41; cracked
corn, $43. I
Hay Alfalfa, $27 ton: double com-1
pressed alfalfa, $33; ditto timothy, $38: .
eastern Washington mixed, $34; straw, $20;
Puget sound, $31.
Coffee Futures Steadier. , J
KEW YORK, March 17. Yesterday's
sharp break was followed by recoveries
in the market for coffee futures today.
The market closed at the best figures of
the day on. most positions, or 80 to 33
points net higher. Closing bids: March.
5.23c; May, 6.48c; July, 5.87c; September,
.27c; October, 6.6uc; December, .65e; j
January, 6.77c.
Spot coffee, dull; Rio, 7s 614; Santos, 4s
8 K.
Metal Market.
NEW YORK, March 17. Copper dull.
Electrolytic, spot and March, 1212ic;
second quarter, 12 14 13c.
Iron, nominally unchanged.
Tin, steady. Spot and nearby 28.00c; fu
tures. 28.50c.
Antimony, spot. 5.50c.
Lead, dull. Spot, 4.00c. .
Zinc. dull. East St. Louis, spot, 4.75
4.77c. .
Seattle1 Livestock Market.
SEATTLE. March 17. Hogs Receipts,
nene; steady. Prime. $11.50 12; medium
heavies, $l0.60igill.50; rough heavies.
$S.509; pigs. 9il.
Cattle Receipts; none; weak. Prime
'steers. $7.5068; medium to choice. $6 7;
common to good. 4.506: best cows and
heifers, 6.256-75; medium to choice,
$.-)6: common to good, $3.5005.50; bulls,
$4 505.50; calves, light, $10.50 5f 12; heavy.
$j.5047. .
Dried Frnit at New York.
NEW YORK, March 17,Evaporated ap
ples, firm. Prunes, steady. Peaches, more
active. : .
Cotton Market.
NEW YORK, March 17. Spot cotton,
quiet. Middling, 11.60c.
stochTgIT shape
DISEASE? -OSS NEGLIGIBLE
SAYS STATE OFFICIAL.
Cost of Wintering Animals in
192 0-21 Declared Least for
Many Tears.
SALEM, Or., March 17. (Special.)
"The only way that one can lose in
the livestock game is to lose the
stock."
This was the statement made by
Dr. W. H. Lytle, state veterinarian,
who returned Wednesday from east
ern Oregon, where he made a careful
survey of the livestock situation.
"The past year there has been no
disease loss," said Dr. Lytle, "neither
has there been etorm loss nor any
considerable amount of actual loss
through forced liquidation. If there
have been any losses in the livestock
industry, either the stockman or the
banker have been at fault the etock
man, perhaps, because he has given
up, or the banker because he has lost
faith.
"The wintering of 1919-20 was the
most expensive ever experienced. This
year's wintering costs will be the
least expensive experienced in many
years. Numerous stockmen recently
interviewed have stated that the car
rying through of their stock this year
has cost juet one-fourth what it did
last year.
"Wages have been cut. Sheep herd
ers are now working for from $60 to
$75 per1 month, which represents a
cut of 40 per cent: ranch employes
INSURANCE
contracts
and rate sched
ules are diffi
cult matters
for laymen to
comprehend.
The co-insurance
policy is a pitfall for
the unwary.
A prudent safeguard
is found in a careful
report by unbiased
experts.
Strong 6 HacHaughton
CORBETT BUILDING
PORTLAND OREGON
The California-Oregon
Power Company
PirKt and Rrfundlnir .Mortjraffe
20-1 ear 7Vi "Srriea A"
Gold Bonds '
This company owna and oper
ates seven hydro-electric piant3
serving' 15.000 square miles in
Southern Oregon and Northern
California. Territory served
equal to combined areas of
Massachusetts. Rhode Island
and Connecticut.
Net earnings for 1920 were
17 times Interest on total pres
ent funded debt including this
issue.
Price 100 and interest
To yield 7V2
Circular on request for OR-61
The National City
Company
Offices in more than 60 cities.
Yeon nnitding. Portland.
Telephone oO2 Main.
Garden Hose
, and Pavement
After thre years' use of his
rubber hose, back and forth, to
sprinkle front and back lawn, it
was replaced by new hose ex
actly the same.. But it wore out
in one season. And he won
dered why, until he finally real
ized the old hose had been
dragged over a resilient surface
and the new one over his newly
built cement driveway. Thafs
one reason, namely, the great
saving in tire wear, why motor
ists prefer the resilient, bitumin
. ous pavement known as
WARRENITE
BITULITHIC
s
V?SSEiSY ?r
V3ft
Chile A' Land of
Immense Resources
Here Are a Few :
220,000,000 tons of nitr&te.
1,000,000,000 tons of iron ore.
. 1,250,000 tons annually of coal.
. 70,000,000 acres of tillable land.
Extensive gold, silver and copper mines.
They all are security for these 20-yr. & sinking; fund gold bonds
Republic of Chile
Callable at 110, payable at 105 on maturity
Price 99 Yield Over 8
Chile has one of the
BROADWAY AND OAK
have experienced the- same reduction.
No serious objection has been made
by the men, for they realize the ne
cessity of cutting the overhead."
MILL TO START MONDAY
Crew of 120 Men Will Be Pnt to
Work at Aberdeen.
ABERDEEN, Wash., THarch 17.
(Special.) Announcement has been
made1 that the Donovan mill plant,
which has been closed since December
1. will resume operations Monday
Food for Millions
77ie compart engaged in supplying
essential human needs is assured a
stable market of large dimensions.
' The Portland Flouring Mills Company has been
supplying flour to the families of the northwest for
the past 36 years. Its familiar brands, including
Olympic flour, are well received. The company has
a ready and growing market.
Its Washington mills, operating under the names
of Puget Sound Flouring Mills, Everett Flour Mills,
Whatcom County Flour Company, Harrington Mill
Company, etc., have a daily capacity of 5500 bar
rels; the Oregon mills have a daily capacity of 4600
barrels, making a total of 1 0, 1 00 barrels. The
bonds of this company, paying 8 for 1 5 years,
are a good investment. They are securecTby a first "
mortgage on all of the company's property. The
price is $100 and interest.
Write, phone or call for additional information.
Blyth, Witter, &, Co.
Yeon Bldg., PORTLAND
SEATTLE - SAN FRANCISCO -LOS ANGELES - NEW Y0R.K
We announce that our Pacific coast business has been
taken over b)
BOND & GOODWIN & TUCKER
INCORPORATED
Tvho will act as our correspondents on the Pacific coast.
Mr. Nion R. Tucker and Mr. W. Prescott Scott have retired
from this firm to become officers of the new corporation.
Mr. Robert F. Perkins, our former special partner, has also
retired.
BOND & GOODWIN
Government of Newfoundland
- Vi Gold Uonda. Due June 30, 1023.
Price: 96.62 and Interest to
YIELD 7:10
Principal and Interest Payable in United States tJold Coin.
Western Bond and Mortgage Company
Ground Floor, Board
Main 113.
We specialize in
Liberty and Victory IBoOCl
Ask us to quote you before J)ou 6uj before you sell.
New York market by wire dally.
Freeman,
pom NB
aM nan ao
Bond Department
world's smallest debts
morning. One shift will b employed
at the start.
The rew will comprise 120 men,
most of whom will be employedin
the sawmill.. The planer crew will
be put to work within a short time
after the main mill starts. While
shut down, the mill has undergone a.
thorough overhauling both in ma
chinery and equipment. Among the
new machinery is a big boiler. Thirty
five feet in width has been added to
the entire dock frontage on the Che
halis river.
Phone your want ads to The Ore
gonian. Main 7070, Automatic 660-95.
J
of Trade Building.
SO Fourth St.
Smith & Camp Co,
round n .00a
Lumbermen Buildinv
fifth and stark
war S740
n
ft