Morning Oregonian. (Portland, Or.) 1861-1937, April 29, 1921, Image 21

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Morning Oregonian., April 29, 1921, Page 21, Image 21

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Newspaper Page Text21 THE MORNING OREGOMAX, FRIDAY, APRIL 29, 1921 SMALL APPLES ARE IN OVER SUPPLY Consignments In From Yaki ma Weaken Local Market. OREGON STOCK CLEANS UP Total Storage Holdings in Country Are Equal to 636,000 Barrels More Than 6-Year Average. Ta ppe won Is not winding up In rha local market as aatlsfactorlly aa waa hoped for. The arrival of atrawberrle. rhubarb and similar products alwaya has noma affect on tba apring demajid for applaa. but with auppllea of the latter well cleaned op In Oregon. It was hoped thai apple price could be maintained at a good level up to the end. Other sections of the northwest, however, are far from cleaned u particularly the Yakima district, which Is disposed to consign apples here. especially the small sizes. The trade has already had more than It wants of this class of apples and as a result the de mand has become anything but good and prices) are naturally weakened. The general apple situation throughout the country Is feeling the effect of the large supply that remains unsold. Barreled apples show holdings of 300.000 barrels more than last year, and 85.000 barrels above, the six-year average, thourb some what less than the 1916 and 11)17 stocks. Boxed apple holdings are the largest on record for April 1. being 500.000 boxes more than mere he:d last year and 2,000, oofl boxes more than were held April 1. !!. Counting three boxes as eaulvalent to one barrel, the total stocks in cola storage are 638.000 barrels more than the six-year average for April 1. The combined movement of both boxed and barreled apples from all shipping states is now about 500 cars per week. This Is nearly 40 per cent more than pre varled at a corresponding time last year. Over three-fourths of the shipments of barreled apples originate In New Tork state. Washington ships boxed apples In nearly the same proportion. Indiana, Mis souri. Pennsylvania, West Virginia and Virginia each ship from 10 to 20 cars of barreled apples a week, while Oregon. Ida ho and California each ship about 20 cars of boxed apple a week. pounds In 120 and 8.12.000,000 pounds In lIT. The 3-year average for April 1 Is 1,078.0UO,UOO pounds. ANOTHER DROP Pf BtTTKB TODAY Prints Will Be Down 3 Cent to S4 Cents. Butterfat Declines. Butter prices will be cut again today. According to announcement made yester day, prints will be 3 cents lower at St oents for parchment wrapped when busi ness opens this morning. The movement was slow during the day and there was mor or less shading of prices by sellers. In th cube market the demand was light and 32 cents was the best price ob tainable. Butterfat will also be down 3 cents to day to the 30-cent basis for No. 1 grade. There was some shipping Inquiry for ejrg and at least one car was loaded out. Buyers paid 19 to 20 cents delivered and there were rumors of a cent mor being offered by some firms Poultry and dressed meats were weak. Light-weight hens sold down to 21 cents and for heavy hens the best price wn 26 cents, with most retailers bidding 25 cents. Good veal sold at IS to 14 cents. Week's Shipments Larger. World shipments of wheat last week and the same week rast year were: Week Ending Apl. 23. "21 Apl. 24. -20 . K 71I2.00IP 3,517.000 . 3.0.in.noa 7,1nS.0O0 . 4.o2a. nun 1,320.000 1 1 -AH XJ V. S. and Canada Argentina Australia Others LIBERTY BONOS STRONGER French 5s, 10111... French 4e, 11117... French 5s, l'.UO... Italian 5s. 11)18... British 5s, 11122... British 5s, 11)27.. . British 5a, 11I29... STfirk'S irVT7 IV IBnrr:rl in British vky 4s. COCJISE IX WAIil, STREET. Lower Bank of England Rate Is Offset by Firmer Domestic Money Tendencies. Belgium rest 5s.. Belgium prem 5s.. German W. I. 5s.. Berlin 4s Hamburg 4s Hamburg 4 'As..., Leipsig 4VjS l.eipjlg 61 -40 70 37 4 31)2 375 37!) 300 27 04 68H 11 12 14 14 13 -34 Munich 4s : 1314 Munich 5s Frankfort 4s Jap 4s Jap 1st 4s.... Jap 2d 4Us Paris sixes t was U K 5s, l!2t S n K 5s. 12!1 U K 5i4s, 17 15 14 824 82 V4 07 !) !-, S3 62 47 71 38 404 3S7 31)1 314 8 US 70 12 13 14 H in 16 14 17 1 67 S3 83 1)8 AO f5 8!) i 85 HOuS RECEIVED DIRECT Total 14.302.000 12.833.000 pnipments ror the season to date com' pare as follows: July 1. 20 t.ast Season Tot! Kincf. Rttmm VarinA u. 8. and Canada. .35.1.1)21. 000 247.227.000 Argentina ti.".. 020. 000 173.3tU).MH) Australia 53 .Ills 000 imij ihh) irmers H.3IS.0U 1. 842.001 Total . 484.337.000 503,340,000 Strawberries Do Not Clean I p. Strawberry receipts yesterday were not large, but they were more than sufficient to local requirements and all were not sold. Florins, th delivery of which waa light, were quoted at 15 $5.25 a crate and Los Angeles at $3.50 a drawer. Another car of Los Angeles berries Is due today. Bank Clearings. Bank clearings of the northwestern cities yesterday were as follows Clfarinyw. Balances. Portland 4.R7.S.775 1.314.4li4 Seattle 3.8!7.:t0 1.035. ISO Tacoma 624.377 1S3.RS2 Spokane 1.116.D13 380.746 PORTLAND sjARKET QUOTATIONS Grain. Floor and Feed. Merchants' Exchange, noon session. -Uiu- April. May. June. RESERVE RATIO IS INCREAKKD Gala of .ine-Tenihs Per Cent for Week Reported by Federal Board. WASHINGTON. April 2. Combined re sources and liabilities of the 12 federal reserve banks at the close of business April 27 were reported tonight by the federal reserve board aa follows: Resources Cold and gold certificates S 347.946.000 Gold settlement fund federal reserve board 488.219.000 Total gold held by banks.. 836.165.000 Gold with federal reserve sgents 1.317.810.000 Gold redemption fund 1U3.344.0OO . .$ 1 23 t 1.20 S 1 10 i.jn l.ii) j. in J. in in lis 1.17 .. 28.00 24.00 22.00 24.50 1.1!) 1.10 118 1.17 2. 51) 26.00 24.00 22.00 24.50 1.11) 111) 1.18 1.17 26.50 26.00 24.0 22.00 25. VO secured by government 2.504,763.000 Total gold reserves 2.317,.V..00fl Legal tender notes, silver etc. 187.1H4.0O0 Total reserves Bills discounted, TJntted States obligations .. All other Bills bought in open market. P20.537.OOO 1.143.202.000 103. 6011. 000 Total bills on hand .. I'nued States government bonds t'nited States victory notes. . United States certificates of Indebtedness, one-year cer tificates, Pittman act All other Total earnings assets . . : . . Bank premises Five per cent redemption fund against federal reserve bank notes Uncollected items All other resources 2.167.348.000 25,61)0.000 l'J.000 230.373.000 2.708.01)0 2.433.14O.00O 21.832.000 1t.33!.000 619.828.000 11.578.000 S.504.480.000 ... 101.235.000 202.03K.0OO 33.872.000 Total Resources Liabilities Capital paid In surplus , Deposits, government Due to members, reserve ac count 1.658.718.000 Other deposits Including foreign government credits 33.309.000 Total deposits .... Federal rererve notes In ac- 1.725.899.000 2.830.118.000 156.219.000 430.700. OK0 oS.243.000 tuat circulation Federal reserve bank notes in circulation, net liability.. Deferred availability items.. All othrt, liabilities Total liabilities I.V504.480.00O Ratio of total reserves to deposit and federal reserve note liabilities combined, &5.0 per cent. Ratio of gold reserves to federal reserve notes in circulation, after setting aside S3 per cent against deposit liabilities. 67.2 per cent. EXPORT BIDS ARE OCT OF LINE Wheat Prices Are Higher Again at All Northwestern Points. Thar was a firmer undertone ts the wheat market yesterday and country bids wars about a cent better than Thuraday, but the advance did not have much ef fect on farmers. Export bids continued out of lin with prices ruling here. At th Merchants' Exchange session offers for bard whits northern spring and red Walla were 2 cents higher and ether grades t cents higher than the day before. For April white oats 128 was bid. an ad-, vane of 13 and th later months were up 60 cents Argentln wheat shipments this week ar estimated at 4, 253,000 bushels whea and 700.000 bushels corn. Terminal receipts in cars were reported by the Merchants' lCxchange as follows: Portland Wheat Barley Flour Oats Hay Thursdsy. ... llil ... 20 Tear ago.... ... II Season to date 1.1 751 246 876 Year ago.... 7.824 174 36-0 Taoema Wednesday.. 10 ... 2 Tear ago . 7 ... 6 Feaaon to date 4 ?33 5(1 6 Tear ago.... 6.564 V0 3007 Seattle Tuesda 1 S Year ago 20 1 1 Season to data 4 3 i 20 38 Year ago.... 5.841 240 8-J8 1 509 433 14.S 175 4 420 642 2205 204: .- 810 1318 1151 STORAGE SHOWS EARLY SEASON for Egg Reserves Far Above Average Past Fire Years. The 1.884.000 cases of eggs reported In storage April 1 are a significant barometer of the earliness of th egg season, and rep resent much larger holdings than are nsual by April 15. The average stocks neid on April i el the past five years were less than 250,000 eases. Froxen eggs are moving very slowly. Stocks show a de creets which Is smaller than usual for the month of March and now stand at almost three times the 6-year average for April I. Creamery butter stocks exceed lsst year's noiaings py ..ooo.imhi pounds, and the 5 year average by i.OOO.OOO pounds Ameri can cheese stocks are 1.O00.0OO pounds less man ioe o-year average. The cold-storage holdings of frozen poultry amounted to 62.563. ink) pounds comparea Wltn ei.eoO.OOO pounds last year, and the 6-year average of 56,359,000 pounds. Stocks of fror.cn bef reached the low est point ever recorded by the bureau of markets as or April I. Holdings were K3.0oo.oii0 pounds under last year's and 78.O00.OOO pounds under the 5-year aver age. Froxen pork stocks are the largest the bureau has ever reported, the 318, 000.000 pounds held on April 1 being near ly doubie the 6-year average. The In crease la largely accounted for by the slower movement Into consumption. Stocks of fro. en lar.b and mutton were reduced by 21.300.000 pounds, or 36 per cent. Stock still in storage, however, are far above normal. The agsregate of meat stocks, not In eluding miscellaneous meats. Is I.OI6.0011.. 000 pound com pared with 1.204.000,000 Wheat Hard white Soft white White club Hard winter..... Nor. spring . . . . . Red Walla Oats No. 2 white feed. Gray, No. 2 Barley Brewing Standard feed Millrun Corn No. 3 E. T. shipment. . 29.50 29.50 29.50 FLOUR Family patents, $8.20 per bar. rel; whole wheat. 66.60: graham, $6.40 bakers' hard wheat. So. 60; bakers' Slue- stem patents, (7; valley bakers', $, strsignts. I" MILLFEtD Prices f. a. b. mill: Mill- run. $28 per ton: rolled barley, $36038: rolled oats. (38: scratch feed, $53 per ton. CORN" Whole, $38: cracked, $41 per ton. HAT Buying prices f. o. b. Portland: Alfalfa. $18.50 per ton: cheat, $22023 per ton: clover. $16; valley timothy, S2402A; eastern Oregon timothy, $26. Dairy and Country Produce. BITTKR Cubes, extras, 31J32e: prints, parchment wnipped in box lots. 34c; cartons. 35c. Butterfnt, buying price: A grade. SOc: B grade. 28c. Portland delivery. EGGS Buying prices, case count, 19 20c delivered. Jobbing prices to retailers: Candled ranoh, 2324c; selects, 26c. CHEESE Tillamook triplets, price to Jobbers f. o. b. Tillamook, 25c; Young Americas. 26c pound. POULTRY Hens, 21200 pound: ducks, nominal, geese, nominal, turkeys, nom inal. PORK Fanoy, 15c per pound. VEALi Fancy, 1314c per pound. Fruits and Vegetables. FRUITS Navel oranges, $4 & 5.75 per box; lemons, $3.75&5; grapefruit. S3.25& 8.50 per box; bananas, lo&llc pound; ap ples, 61.254J3.50 box: strawberries, $5 6 $5.25 per crate. $3.50 per drawer. VEGETABLES Cabbage, 8t4o pound; lettuce., 6444.5U per crate: carrots, $1.50 per sack; garlic, 15920c per pound; beets. $1.50 per sack: cauliflower, $22.50 per crate; green peppers, 3u50o per pound; rhubarb, 465c per pound; spinach. 7fe8a per pound; turnips, $1.50 j?2 per sack; to matoes, $5.50 per lug; cucumbers, $1.75G 3.50 per dozen; peas. 15&ltc per pound; asparagus, 12 615c per pound. 62.50 per dozen. POTATOES Oregon, $1.25 1.80 per 100 pounds; Yakima, $1.70&2; new California, lw'12c per pound; sweet potatoes, $3.75 pert era ir. ONIONS Oregon, 75cQ$1.25 per sack. Staple Groceries. Local Jobbing quotations: SLuAR tsack basis) - Cane granulated. Stc per pound: beet. 8.15c per pound. NUTS Walnuts, 30939c pound: Frasll nuts. 8oc; filberts. 12c; almonds. 24ff30c; peanuts, 8011c per pound; oocoanuta, 61-75 per descn. RIOhi Blue Rose. 6c per pound; Japan style, 440 per pound. BEANS Small white, 4c; pink. 71ie; lima, 8c; red, 6c per pound. COFFE'. Roasted, bulk, in drums, 14 O 86o per pound. SALT Granulated, bale, $3.4004.25; half ground, ton, 50s, (19.75; 100s. $19.25 lump rock. $26.50. DRIED FRUITS Italian prunes, 6tt pouna; dates. 4.2oj o - per box; tigs, V- q o.j per oox. Provisions, RAMS All sites, 30037c: skinned. 260 asc: picnic, liavivc: cottax roil. auc. BACON Fancy. 43053c; cnoioe, 800 S5c; standard, 26r2hc LAKD Pure, tierces, 17o pound; com pound, tierces. 12c. DRY SALT Backs. 22 0 25c; plates. 18a. Hides, Hops. Etc. TALLOW No. i. 04c; No. 2. 2 03c per pound. CASCARA BARK 1920 peel, Tc pound; 1921 peel, 6c pound, delivered Portland. HOPS 1!)20 crop, best, 20c per pound. HIDES Salted country hides, 4o dellv. ered Portland; grubby hides, 3c; city calf sains, iuc; country can sains, so; gooa kip. 6c; grubby kip. 4c. MOHA1K New clip. 18020c per pound. URA1N BAGS Car lota, 7c, coast. Oils. LINSEED OIL Has. In barrels, 89o; five-gallon cans, 6104. Boiled, In barrels, 61: five-gallon cans, (1.V6. TURPENTINE In drums. 69e; five-gallon cans. 81.04. COAL Oli, Tank wagons and Iron bar re la I7c; cases. 800 37c GASOLINE Tank wagon and Iron bar. rel. 30c; cases, 42 c. Are Weaker With $8.25 Top Price Obtainable. Cattle Trade Slow. , NEW TORK, April 28. Much of the oc casional irregularity which characterized today s fairly active stock market ascribed to a feeling of dlsannoln arising from the cut in the Pennsylvania railroad dividend rate. This episode, it was popularly believed, foreshadowed the Inauguration of a similar movement by other leading transportation systems whose directors and executives have long Been committed to a policy of drastic re- trenenment. The most hopeful news was of foreign the Bank of Engird discount rate as I THREE LOADS IX FROM SOCTH indicative of an early settlement of British ir rx-r- . T-r r, . r i: t r, labor disturbances and of further progress DAKOTA TO FACM.R. towards solution of the German repara tlons dispute. foreign exchange reflected the easier i prnj. Lambs duplicating their recent maximum quota tions and French, Belgian. . Dutch and Swiss rates also hardening materially. German remittances were depressed. how ever, and the Greek rate again broke sharply. Rails were subjected to moderate pres-1 Of the small run of six loads of stock sure at the , outset, together with prom-I at North Portland yesterday, three loads inent ous, motor specialties, utilities auu weia irum ouuin wnieii oajne miscellaneous Issues. After mid-day prices rallied under lead of Studebaker. General Asphalt and International Paper. but another Irregular setback ensued oe- fore the close, when call money rose from 6 to 7 per cent. Kales were 875.000 shares. The sudden Jump In call loans was at tributed to withdrawals of funds for fed eral account and to preparation by local banks to meet heavy May Interest and dividend disbursements. Trading In bonds was mere active and broader of scope than at any recent period. A firm tone prevailed in most of the im portant domestic Issues, including liberty bonds. The international list also held steady, but was without especial feature. Total sales, par value, 612.8 io.OOO. CLOSING! STOCK QUOTATIONS. Last High. T-ow. 8ale. 31 '4 3H 30 12tf 125 126 4 44 44 88 S7 a' 42 H 42 42 SS- 87 'i SS?i 71 70 u; 71 17i 107 107 121', lll)i 121 Tl)" Tin 26 40 81 3S 90 SB 5(1 H 13 45 111 HEAT FIRMER JIT CLOSE r REPORTING OF TARIFF BILL STRENGTH EX S M ARKET. Sales. 2O0 2.000 800 6.700 S.600 1.200 1.7DO 1.W0 3. SIX) loo Am Beet ' Sug American fan Am Cr & Kdy Am Inter Corp Americn Loco Am Sm & Rfg Aniercn Sugur Am Sum Tob Am Tel A Tel Amen Tob Sec Amem woolen 13.0110 Am Z. Ld & S loo Anaconda Coo 8.300 Atchison 1.700 At. Gir WT 16.400 Baldwin Loco.lll.rtoo Baltl Ohio 11.000 Beth Stl "B'V S.ooo Bt A Sud Con ' 600 Calif Petrolem 700 Canad Pacific Cenirl Leather Chand Motors Chesp a; Ohio Chi. M St P Chi & Nrthwn Chi. R I 4 P Chino Copper Corn Products l.rtoo 1.7O0 8.1O0 1.3110 2.000 6.000 S.ofH) 1.200 l.soo Crucible Steel 11.2O0 .too 1.800 5I0 7.700 2.000 100 700 500 1.300 Cuba Cne Sug Erie Oenr! Electric Generl Motors Gt North, pfd Illinois Centrl Insprn Copper tnt Me Ma. pfd Internl Nickel Interntl Paper 20.100 K C Southern 8.7O0 Kenne Copper 1.000 Mexl Petrolem 53.800 Miami Copper 1,400 Mid States OH Mldvale Steel. Missouri Pacif Montana Powr Nevada 'Coppr N Y Central. N T. N H H Northn Pacific Ok Prd & Rfg Pan-Am Petri Pennsylvania.. Pitts & W Va Ray Con Cop Readlna- 22.000 Rep Irn a- Stl 2.000 Ryl Dtch. N Y 20.7110 Shell Tr & Td 3.4110 Sin Oil Ffg 20.OII0 Southn Pacific 8.0110 South Railway 1,300 S O. N J. pfd 400 Studebkr Crp.133.6O0 Texas Co 7.000 Texas ar Pacif 1.300 Tobc Products 3.8O0 Transcontl Oil 4.0O0 Union Pacinc. U S Fd Prdts U S lnd Alee U S Rtl Stores U S Rubber.. 13.000 U S Steel. . . . 2U.600 U S Steel, pfd 700 Utah Copper.. Western Union Westg Electric Wlllys-Overlnd 41 81 H 3!i7 110'i 36---, 511 . l:-. 45 111 ' ,V. S4 61 26', 3 27 3, 24 74 ' 82 U 1ST, 13 137 13i 71 01 30 54' 16 04 27 20-4 151 '4 24 15 29 17 52 't 12 61) 17 74 3 72 34 2S 13 73 64 09 46 75 21 108 92 43 21 04 11 l.4o im 7.300 000 S'KI 2I0 700 2.0O0 S00 3. 100 0l0 6.3O0 S.IXK) 6110 7O0 1.OO0 1.8O0 3.0O0 V S 2s reg. U S 2s CO U S 4s, reg 20 69 i4 75'; S3 no 53 90 4"! 8Ts BONDS. .99 14 IN Y C deb 6s. .99iNo P 4s 104,No Pa 3s 3.800 1O0 400 8.200 T-ow. 8S SDH 125 44 S7 42 87 'i 70 107 76 26 30 81 38 SS 5' 13 45 not, 34 62 60 25 2 265, M 73 80 18 13 136 13 70 91 35 53 16 59 26', 20 147 23 14-4 28 17', 52 12 6Si4 17 72 3 70 33 26 13 70 63 m. 45 26 74 21 108 80 4214 20 63 'i 11 ll&H 20 AK'i 52 73 824 110 53 '4 IK) 47 8 351i S3 61 25 611 24 73 81 IS 13 137 13 - 71 111 35 54 Jt 62 26 20 'A 149 14 28 1 52 12 611 17 78 3 71 34 Vt 28 13 63 6S 46 In as a direct shipment. Hog prices in the main were the same as on Wednesday, ex cept feeder pigs, which were listed 50 cents cheaper. Cattle continued slow and sheep were reported wesk. The top price on spring lambs was $3.25. Receipts were 6 calves, 515 hogs and 391 sheep. The day s sales were as follows: Wt. Price ! Wt. Price. 25 steers ..1208 $7.50'27 lambs ... 78 $8.25 5 steers .. 758 5.50 10 lambs . .. 107 6.90 1 cow .... 720 4.50 13 lambs ... 61 7.00 1 cow 1100 5.73 78 lambs ... 58 8.25 2 calves.. 140 11. 001147 lambs . 90 6.50 6cilves.. 143 9.00:61 lambs ... 60 8.00 SOhogs... ISO 0.23! lambs ... 53 6.00 1 hog 210 10.001 7 ewes 154 3.00 Shoes ... 204 9.7.11 1 cow 8110 3.00 6 hoxs ... 200 9.73:17 mixed ... 713 4.00 12 lambs .. 06 8.231 1 bull ....1360 4.50 4 Iambs .. 2 7.001 The following prices are current at the local yards: Choice steers 7 73 8.25 Medium to good steers 7.00ffi 7.75 Fair to medium steers 6.25tfr 7.00 Common to good ste-rs 5 25S 6.25 Choice cows and heifers 6.00i 6.75 Medium to good cows, heifers. n.50r 6.00 rair to medium cows, heifers. 4.00fil 5.30 Common to fair cows, heifers. 4 nOr9 a ."ill Canners 2 M)fl 4 00 Bulls 3.50 5.50 Choice dairy calves 11.001 1 1.50 Prime light calves 7.00W10.50 Heavy calves 4.00tfd 7.00 Best feeders 8 Otlffl 6.50 Fair to good feeders 5 50p 6.00 Hogs Prime light 30)910.00 Smooth heavy, 230 to 300 lbs.. 8.00'W 9.00 bmooth heavy, 300 lbs. and up .009 8.00 Kourni heavy A 00 8.00 Stags 4 WKli S 1:0 hat pigs 9.50 10 Feeder pigs bheep Prime east-of-mountaln lambs Valley lambs . Heavy lambs, 90 lba and up.. Feeder lambs Cull lambs Yearlinits Wethers Ewes 00 8.500 9.60 7.00fi 7 3(1 3.001 6.25 5.00 f 6 00 3.008 6.00 2.00 4.00 4.50 5.50 4.00 TV. 00 1.00 'V0 Chicago Livestock Market. CHICAOO, April 28. Cattle 8000: best steers and butchers' she stock active; mostly 10 to 15c higher; top yearlings, 19; top heavy steers, J8.75: bulk beef steers. 7.75i6 8.33: bulk fat cows and heifers, I5.50I&7; calves and bulls stesdv: hulk vealers, 6838.75; bulls largely I3.256.25; stockers and feeders steady to strong: oum stocKer and feeder steers. 66.25fr7.50. Hogs 24,000: active: 15 to 25c hiarher than yesterdays average; hogs well sold: top. xn.60; bulk. I8.10&8.50; better grades pigs steady; others weak. Sheep l.i.OOO: mostly steady: wosleri lamb top, 111; shorn top. J10.50 to city butchers; packers, top. 10: choice shorn wethers. 67.25: few lis-ht shorn wethers. $7.25; best shorn ewes, 66.7S. Kansas City Livestock Mnrfcet. KANSAS CITT. Mo.. April 2S. Cattle 4300: beef steers steady to 25c higher, mostly 10 to 15c higher: best vearlinzs. 26 early, 68.15; heavy steers for export, 67.63 2l o , v-uioraao . puipers, si.ooiO' 1.10: some bids. 67.85; she stock and feeders steady; best cows, J6.50: good heifers. 67: canners and calves steady to strong; best vealers. 69: bulls 23c higher. Hogs 7000: closlns active. IS to "te higher than yesterday's average: mostly 23c higher; best lights to packers. 68.2a; bulk o sales, J7.li.i" 8.15: stock nias steady: best kinds. 68.75. Sheep 4500; killing classes active and steady; top lambs. 610.35; most desirable, weight bands, HO.lSSr 10.35: heavies. 19: spring lambs. 110.50012; shorn ewes, 18; snorn wetners, s.fi0. 21 UK 91 42 21 53 11 116 s 53 75 83 110 53 HO 47V 8 Six Hundred Thousand Bushels of Xew Grain Purchased for Europe. Crop Reports Favorable. CHICAGO, April 28. Wheat developed strength today after word was received that the emergency tariff bill had been reported favorably to the senate. The close was firm, at the same as yesterday's finish to lc higher, with May $1.27 1.27 and July 61.0501.05. Corn closed 4ilo net lower, oats off ?o and provisions varying from 25c decline to an advance of 2c. It was a wavering market for wheat until arrival of the news regarding the emergency tariff measure. Most of the time previous values had been on the down grade, although one Important rally took place as a result of some revival of export demand. It was said 600,000 bushels of new wheat had been purchased for Europe and that exporters had offered equal to 20 cents over May track, Chicago, for No. 2 hard, but had been outbid by domestic millers. The earlier weakness was ascribed in a zeneral way to bearish weather and crop reports and to the unsettled condi tions between Germany and the allies. Corn and oats were depressed because exporters showed apparent indifference as to corn, and Iowa advices told of . corn nlantinc ten days earlier than usual Provisions averaged lower in sympathy with corn. The Chicago market letter received yes terday by the Overbeck Cooke company of Portland said: Wheat Ruled lower most of the day. July leading the down turn, based on fa vorable crop reports. -1 ne unaerione. How ever, was by no means weak and toward the close prices responded readily to scat tered buying by shorts in July and by seaboard Interests in the May delivery. The statement of wheat supplies In Kansas was considered rather bullish, showing 5.000.000 more than last year in first hands, but considerably less In all posl tions. Omaha reported the best milling nd exoort demand in some time. Willi the visible supply decreasing at an alarm ing rate and the country showing less dis noaition to sell on account of the evidence of the revival in the domestic demand for flour, there does not seem much induce ment to sell July wheat at more than 30 cents discount under the spot price. It must be remembered that the new crop is still subjeft to many vicissitudes. Corn Showed decided weakness early on liouidatlns pressure inspired by the Kansas state report, showing 63.300.000 bushels on farms April 16. compared with 10.800,000 last year. Longs were also ais nnnointed at the failure of the export de mand to continue and opinion was freely expressed that additional foreign buying is unlikely, due o the reports of American corn arriving on the other side out ol condition. This factor, however, was en tirely without influence in the local spDt market, where prices were firm at a better premium over futures. Shipping sales for domestic account were the largest in a long time, aggregating 150,000 bushels. Leading futures ranged as follows: Country offerings to arrive very light. This article is a domestic proposition and we consider conditions are Improving suf ficiently to warrant price enhancement. Oats Liquidation In May was the out standing feature, giving the market a weak tone. There was good buying on th breaks and the close was relatively Btrong. Cash prices were c lower, but the trad ing basis was without - important change. Shipping demand wa active, sales totaling 170.000 bushels for domestic account, Country offerings to arrive light. Rve The most conspicuous trading In this grain was In the nature of buying by export Interests apparently against foreign sales. There were no fresh receipts and the spot market was nominal. New York re ported 50,000 bushels worueo ior expon. but it was generally conceded that s larger business was done. WHEAT. Open. High. Low. Close. S1.21 4 l. 1 ai.-i 1.05 1.03 1-05 CORN". .58 .56 .57 .61 .60 .60 OATS. .36 .35 .35 .37 .57 .37 MESS PORK. .13.30 - 15.30 .15.90 , 15.90 , LARD. J . 9 57 9.57 - 9.40 9.47 . 9.97 9.97 9.82 9.90 SHORT RIBS. . 9.15 9.40 9.13 8.50 . 9.55 9.55 9 47 9.52 fuah ericas were: Wheat No. 2 hard, S1.39H; No. 2,mlxed 61.31 .May July May July May July May July May July May July .81.25 . 1.04 .58 .64 .36 .37 'durum, 61.2891.32; No. 2, 61.210 1.2S; No. 3, 61-20 1.23. Barley (5 6 62c. Flax No. 1. 81.50 Gl.sm. Futures Wheat May, $1.19; July, 11-12. Winnipeg Grain Market. WINNIPEG. April 28. Cash wheat "o. 1 nor., $1.77; No. 2, $1.70; No. 3, 61.63; No. 4, $1.50; track. $1.67. Oats No. 2 white, 43c; No. 3, 38c. Rye No. 2, 61-47. Barley No. S, 76; No. 4, 66. Futures Wheat May, 11.57; July. 1.60. Grain at San Francisco. SAN FRANCISCO. April 28. Grain Wheat, milling, ll.002; feed, 61.8001.90; barley, feed, 61.071.13: shipping, 11.20 tfl.40; oats, red feed, 11.4501.55; corn, white Egyptian, 12.803.25; red milo, 12.7S 02.80; rye, nominal. Hay Wheat. 1211021; tame oats, 1170 19; wild oats. 112013; barley. 112015; al falfa. 117 0 20; stock, 110014. Seattle Grain Market. SEATTLE, April 28. Wheat, hard white, soft white and white club, 6L25; hard red winter, soft red winter and nortnern spring, ai.-a; easvem ieu 61.22; big bend bluestem, 11.30. City delivery Feed Scratch feed, 148 per ton: baby scratch feed, 171; feed wheat, 648; all grain chop, 112; oats, 13U; rolled oats, 641; sprouting oats, 144: whole barley, $37; rolled barley, 134; clipped barley, 144: milled feed, 130; bran, 30: whole corn, $38; cracked oorn, 140, Hay Alfalfa, 124 ton; double com pressed alfalia, 630; ditto timothy, $38; eastern Washington mixed, 152; straw, 624; Puget Sound alfalia, 130. Naval Stores. SAVANNAH. Ga., April 28 Turpentine firm, 38 059c; sales, 9!; receipts, 322; shipments, 748; stock, 6222 barrels. Rosin Sales. 54: receipts, 826; ship ments, 3433; stock, 73.262 barrels. Quote B, 13.63; D. 13.88; E. $3.90; F, $3.9504; G, 1404.50; H, I, 64.10: K, $4.2504.30; M. $4.40; N, 14.50&4.75; WG, 15.25; WW, 65-50. Dried Fruit at New York. NEW YORK, April 28. Evaporated ap ples, quiet and firm. Prunes, firm, leaches, steady. HOOD CANCELS FESTIVAL Strawberry Growers Fear Loss of Transient Laborers. HOOD RIVER, Or., April 28. (Spe cial.) Because it was feared that the proposed strawberry festival planned here for June might interfere with harvest help of the upper valley, where picking would be at its height, plans for the valley event have been canceled. C. A. Bell, appointed by the Commercial club to investigate senti ment on the proposed festival, de clared this phase of the event created alarm among upper valley folk, who expressed a fear that their transient help, attracted to the city by amuse ments, might not return to the berry fields. Hood River, however, will extend an ' invitation to the world to visit the berry f'elds during the approxi mate six weeks of berry harvest which will begin the latter part of May. And a bond that is eligible to secure State and County De posits. Legal investment for Oregon Savings Banks. INCOME TAX EXEMPT CITY OF Bandqn, Oregon General Obligation 6 Gold Bonds Den. 1500. Dated May 1, 1921. Due 1926-41. Price to Yield 6.23 These bonds are to provide funds for the installation of a hydro electric plant and are the direct obligation of the entire city whose net bonded debt is only $40,300. Three strong municipals for diversified investment. Pendleton, Oregon, 6 Imp. Bonds. Greybull, Wyo., Imp. 7s Tillamook, Oregon, 6s Yield 6 ..Y'iclo 1r,'o ..Yield G'v LUMBEKMEN5 TRUST COMPANY BROADWAY AND OAK r i Republic I of Chile I 20-yr. sinking fund 8's at 99 U S Cv 4s co.'lftt-Tk P T 4 T Bs... Pan 3s reg....77 jPenn Con 4V-s Pan lis co ....'77 So P ev 6a. . A T 4 T cv Cs.inuslso Ry 3s A (rhen gen 4s. 7'iL'n P 4s D & R con 4s.. (14 U S Steel us.. . 88 . 73?4 . 64 !i . S) . 8-1 Vj .'9 . S3 VI . 71) . V3 Bid. Liberty Bond Quotations. NKW YORK, April as. Liberty bond quotations closed as follows: Liberty 3Vts ...88.3() do Sd Hs 00 3 do 1st 4s ...K7.0 do 4th 4is. . .H7.1L' do I'd 4s ...KB. 70 vietory ss.. do 1st 4 s. ,S7. 2S Victory 4s do 3d 4V.S... .87.041 Omaha Livestock Market. OMAHA. April 28. Hoirs 14.000: ac tive. 15 3Sc hiKher: bulk. 180 to 1140 lbs.. butchers, 7.808.15; top. $8.25: bulk butchers. 250 lbs. and over, S7.407.7: packing grades, $76'7.25. Cattle 5000: beer steers slow, uneven: best yearlings and handy weights steady to strong; others dull: early top yearlings. $8: she stock steady to 25c lower: bulls ind veals steady; stockers and feeders dull. Sheep 4500; slow, steady; no choice light wooled lamba sold; early top clipped iambs, )U.dj. Seattle livestock Market. SB ATTL.B, April 28. Hogs Steady, no .7!o4 1 receipts; prime Ji).5010: smooth heavies. 07.001 li-anffs. rougn neavies, st.ouud.ou; pigs, iiovti.no. Cattle None; quotations unchanged. tJlOTATIONS ON DA1RT rRODCCK Market Trices Ruling en Butter, Cheese and Kggs. SAN FRANCISCO. April 28 Butter Extras. 31 c: prime firsts, nominal. Kggs Kresh extras, S7o; extra firsts, 2SVko; firsts, nominal; dirtiest 23c; extra pullets. 21c; undersized. 17c. Cheese Flats, fancy, 15c; firsts, nom inal; Toung Americaa. 16u; firsts, nom inal. " CHICAGO. April 28. Butter Lower! creamery extras, 35c; . standards not quoted. Eggs Lower; receipts. 22.407 cases: firsts, 21Vs22c; ordinary firsts. lgtilHc: at mark, vases included. I'OQ'lc. Poultry, alive, unchanged. NEW TORK. April 28. ButterStead ier; creamery higher than extras. 3Hia 30c: creamery extras, SHc; firsts, 34(j37i.c. Eggs Weak; frfsli gathered extra firsts, 27sf281sc; firsts, 2J$j'27c SKATTLB. April 28. Wholesale prices to ueaiers: Kggs belcct local ranch, white shells. 27y28c; do. mixed colors, I'JdrJUc; pullets Butter City creamery cubes. 37c: bricks or prints. 8ac; country creamery, extra. cost to Jobbers, in cubes. 34c Uuluth Linseed Market. DL'I.L'TH, April 28. Linseed on track. J1.03'(f l.."5; arrive, 11.54. Cotton Market. NEW TORK, April 28. Cotton Spot. quiet, middling, li.3ue. Mining Stocks at Boston. Allouei 22 INorth Butte ... 11 14 Cal. Ariz.... 514Old Dominion.. 21 & Cal. & Hec.,.,257 lOsceola SO Centennial .... SVQulncy 39 Copper Range. 35 I Superior 4 East Butte.... m Sup. & Bos. ... 1 Franklin 2 Vi Shannon 90 Isle Royalle ... 21i;l'iah Con S',4 im copper .. ztiwtnona 43 Mohawk 50"4iWolverlne 12 SAN FRANCISCO PRODUCE MARKET Prices Current on Vegetables, Fresh f ruits. Etc., at Bay City. SAN FRANCISCO, April 28. Vegetables Asparagus, 410o; potatoes, old, nomi nal: new, 3&4c:; garnets, o'&Gc; sweets. Nancy Hall, to.00W6.00: onions. Austra lian brown, 40'i)5lc; green; Sl.sOWl.Td; celery. $1.2563.00 crate; garlic, 6080; cabbage, lc pound; bell peppers. 25 30c Swift Co. stocks. Closing prices for Swift A Co. stocks at I turnips. 60c 4 J 1.01) sack; beets. H.OUU l.50 Chicago were reported by the Overbeck Sl parsnips, t-.OOfci. 25 sack; carrots, 75c Cooke company of-Portland as follows: Swift & Co 100W l.lboy, McNeH Libby 10 vj National Leather 8 Swift International. 20ft Money, Silver. Etc. NEW TORK April 28. Prim mercan tile paper. 7(j7c. Time loans steady; 80 days, 90 days and six monms, ivnii per cent. - Call money firmer; high, offered at last loan. T; low, 6; ruling rat and closing 01a 0:4. Bar. silver Domestic,. 9914c; foreign, SO Sc. Mexican dollars, 49 o. , LONDON, April 28. Bar silver. S44c per oum-e. Money. 4 per cent. Discount rates, snort 0111s, 0 per cent. Foreign Exchange. Foreign exchange rates st elosa of busi ness yesterdsy, furnished by Northwestern National Bank of Portland. Th amount quoted is the equivalent of the foreign unit in unitea oiaies lunas; Austria, kronen ............ Belgium, franca , Bulgaria, leva Cxecho-Slovakia, kronen .... Menmark. kroner Bngland. pound sterling .... Finland, finmark tl.00 sack; peas, SfrlOc; rhuhard, Al meda. $1.25j2.00: San Jose. t2.00: lettuce, tl.2Sl.0: artichokes, f 5.00 fir 10.00 crate; spinach, 23sc pound; string beans, 15 30c; egg plant. 20c. Poultry Hens, 254nc: strictly young roosters, 42t45c: old. 1821c; fryers. oO'tr 60u: broilers, 33r950c; ducks, 30&35c; squabs. 50d55e; pigeons t3.00i5t3.5O; Bel gian hares, 23&25c; Jai-krabbit?. t:ls3.50. V r u I t oranges, navel, t2.3o95.00: lemons. $'-'.: 5 & S. 75; grapefruit, 1 1.60TO3.50; pples. t1-732.75: strawberries, Penin sula and Watsonville. t2r2.2o crate. 60c er'tl.OO drawer; Imperial. t2.254T2..'M crate; bananaa. 9vlc; avocadoes. t34r4.50; rasp . berries, t3 -per drawer; cherries, $4 per box. Receipts Flour. 900 quarters;' wheat, B080 centals: barley, 1730 centals: oats. 752 centals; beans, 384 sacks; corn, 1)70 sacks potatoes. 4577 sacks; onions, 1010 sacks; hay, 100 tons: hides, 40 bundles; lemons, 400 boxes; livestock, 1105 head. Corn No. 2 mixed, yellow, 5959V4c Oats cvo. 2 white, white, 5301. Rye Not quoted. Barley 60fli71e. Timothy seed ft.aflgft. Clover seed $13frlS. Pork Nominal. Lard !).42. Ribs ft) 9.75. 5S',i08V4c; No. 2 36 37 Vic; No. 3 to yield - a minimum of 8.35 up to a possible 20 to ac cord with the opera tion of the sinking fund. , There will be retired annually $1,200,000 by sinkinsr fund pur chase or by lot at 110 the first ten years and 105 the next ten years. Call or Phone rrtmary Receipt. CHICAGO. April SH. Wheat 648.000 bu. vs. 015,000 bu. Corn 358,000 bu. vs. 280,000 bu. Oats 321,000 bu. vs. 371,000 bu. Shipments Wheat 763.000 bu. vs. 814, 000 bu. Corn 315,000 bu. vs. 278,000 bu. Oats 400,000 bu. vs. 321.000 bu. Minneapolis Grain Market. MINNEAPOLIS. April 28. Cash wheat No. 1 dk. nor. tl.3591.4H; No. 2. tl.2W 1.42; No. 3. 11.101.3:: No. 2 nor. tl.23 1.81: No. 3, l. 10 ip 1.25; No. 1 red epg.. $1.2391.31; No. 2. $1.20t.25; No. 3, tl-17(g1.20: No. 1 dk. hd. Mont., tl-42 144: No. 1 hd. Mont., $1 . 87 Iti 1 .31) : No. 1 .$ .00:12 . .0775 ni;i: France, francs Germany, marks Oreece, drachmas Holland, guilder ............... Hungary, kronen Italy, lire Jugo-Slavia, kronen Norway, kroner ................ Portugal, et-f-udos Houmanla. lei Serbia, dinars Spain, peseta .................. Sweden, kroner .........t Switzerland, francs '. China-Hongkong, local currency. Shanghai. tacU) Japan, yen Coffee Future Kaxler. NEW TORK, April 28. The market for coffee futures was easier today. Traders found no special incentive In the Bra .0!40ziltan cables, but the European news was 1815 I considered less favorable, wnne there was 3.0O25 1 some further May liquidation and. after .0230 opening two to four points lower, active .0771 months sold some 12 to 15 points below .01. TO last night' closing figures In the late .0620 trading. A good part, of the pressure .O.llO r.i . rt i. fnmtt fPAtn W . 1 1 .tree) nlln.aa ."w-to I -.., .iinnnwil In wnr.ii.nl ImilH.ilna .0070 .1570 .00.111 .010!) .OliDo July sold off to ft. 98c and September to 6.37c, with the close showing a net de dine of 12 to 17 points. . May. ft.60o; July 5.07c; September, .37c: October, 6.53c December, 6. Sue; January, 6'Jic; March, .1-102 7.17c :i.1il Spot coffee quiet: Rio 7a 5a O 6c: Santos 1 lo I 4a 84. CtD'c. -''o Mrtn.1 Market. NEW TORK. April 28. Copper steady. NEW TORK. April 28. Rxch.nsre i-J Electrolytic, spot and nearby 12c; May reauiar; sterling ticmana. 93.9,1; cables, ?3.9o; francs, demand, 7.62; cables, 7.t4; Belgian franca, demand. 7.05; cable, 7.H7: guitdera. demand. 34.95; cables. 35.05; lire, damajid, 4.86; cables, 48; marks, demand, l.ul; cables, 1.52: Greece, demand, 6.05: Argentine, demand, 31.75; Braxilian, demand, 13.50; Mon treal, 10 per cent discount. Foreign Bonds. Foreign bond quotations furnished by the Overbeck & Csoke company of Port land: Bid Ask. Russian 514s, 1021 18 18 Russian 5'4s, 192" 9 10 Russian is, 1919 IT 18 , and June -13c Tin Irregular. Spot and nearby 31.37 31.500; futures, 3l.y53l.75. Iron Nominally unchanged. - Lead Firm. - -Spot. 4.5r. Zinc Steady.' East bt. Louis, spot 4.90 5e. Antimony Spot 5.23c. NEW TORK, April 28. The American Smelting 4k Refining company today ad vanced the price of lead from 4.35c to 4.50c New York Sugar Market. NEW YORK, April 28. Raw sugar $4.89 for centrifugal. Refined, 14.7597 for fine granulated. , Safety High Yield We offer the unsold portion of our own issue to yield 8. Safety of Principal and cer tainty of interest guaranteed by 95 individual first mort gages on irrigated farms. There are $175,000 mortgages held by the Portland Trust Co. to secure $150,000 bonds. Con servative loans. Bank recom mendations. Bonds Ready for Immediate Delivery at the Portland Trust Compan Exempt as to 2 normal in come tax. Legal investments for Savings Banks and Trust Funds. Denominations: $100 $500 $1000 Ask Us for Circular Southern Idaho Land & Power Co. Portland Office 1212 Gasco Bldg. We specialize in Liberty and Victory Bonds Bee us beforf you buy or sell e Stop and Think How many people have you known who bought promotion oil, motor and mining stocks as a re sult of glowing promises made in prospectuses and glaring advertisements? Have you ever known any of them to succeed in making the fortune which is always held out as bait to get the money? Think over the history of the men you know who are independently wealthy. How did they make their money? In nearly every case you will find that they made it by investing in sound, established business enterprises where it was possible for them to find out all the facts sur rounding their investments, or that they made their money in a business which they themselves developed. After a thorough investigation among success ful bankers and business men, you will find that nobody is going to make you wealthy on pro motion stocks. The wealthy men of today are the men who first saved some money and then invested it where it accumulated more each year. If you persist in the idea that you can get rich . quickly by speculating or gambling in promotion stocks, we cannot help you, but if you want to as sure yourself of a safe and regular income, we will gladly talk over your problem with you. If you cannot call, write or telephone for our booklet, "The Elementary Principles of Safe In vestment." In this booklet you will find the dif- ference between investment and speculation clearly defined. BlVth, Witter. &. Co. Yeon Bldg.. PORTLAND SEATTLE - SAN fBANCISCO-LOS ANGELES - NEW YORK llIpP SMITH CAMP aeuNO riecf PWTH nd araaK t0 lait STatO Federal Land Bank Ten Twenty-Year 5 Bonds Due May 1, 1941 Opt. May 1, 1931 Exempt from Federal, state, municipal and local taxation. Price 100 and interest Yielding 5 , The National City Company Offices In more than 50 cities. Yroa Buildlnir. Portland. Telephone Mala 607- J pAREFUL INVESTORS should pur J chase securities from an institution whose character, stability and manage ment are an assurance of continued pro tection to its customers. This bank maintains its Bond Depart ment to afford you that assurance and protection in making safe investments. HI fel 10 ill Cushion Tires Versus Pneumatics One would hardly think of favor ing the cushion tire over the pneumatic tires. It is equally il logical to favor rigid pavement over a resilient pavement. Ri gidity, either in pavement, tires or springs, adds to the wear and tear on any car. The ideal type of resilient pavement and the most durable, too, is Warrenite Bitulithic. See Linnton road, Willbridge, and Claremont now in its tenth year. OUT of 231 Life Insur ance Companies doing business in the United States, according to the American Underwriters' Pocket Chart for 1920, The New 'York Life Insurance Co. 1ia A hoot 1-7 of he tolal aifl About 1-8 of the total liabilities About 1-4 of the total aurplua About ' 1-11 of the total InMUranee In tow - - -Paid overl-10 of all death loamra Paid over 11 of all divldenria, and At only 1-14 of the total eipenae lb Ik la Why People Prefer to Carry Their InKurancr in the AKW VUKK lih:. J. W. DA V. $29,000 Kelso.Wash. 7 IMPROVEMENT BOM1S Dated Feb. 1. 1831 Due Feb.. 1, 1033 Estimated maturities 1323 to 1931. Prle Par and Jcf Interent to Yield lO Western Bond & Mortgage Co. Mala 113 0 Fourth St. Board of Trade Building (round Floor, TEXT BOOK OF WALL STREET A 40-page book (copyrighted) discussing clearly and unmis takably rules governing stock market transactions: Method of Trading;. ( onirulxalon Halm. How to Open an Arronnt. Aunrmentlng Onea Income. Drponlt llrqulr.menta for Carrying- Movka on Ac count. Dictionary ot Wall Street. HlMtory of the rw York, htoek l:chnnRC. HlMtory of the .rw York Curb Market. Fore I en F.xrhanKe, And many other aithiccta of Interest to Inventor and Mock trader. Copy free upon rrqurat. McCalI&RHeyCo.,Inc. 20 Broad Street New York HERRIN & RHODES, Inc. (ICatabtlahrd 1NIMI) BROKERS MEMBERS CHICAGO BOARD OF 'lll.tllb. rorreNpondent. K. nPTTOX CO. Member New York Mock Ki. change. Private Leaed Wlrea Direct to All Security and Com modity Market. LIBERTY AND VICTORY BONDS BOUGHT AMD SOLD MAIM 2K3 and 24 201-5 RAILWAY LXtU, BLDG, Phone your want ads to The Ore gonian. Main 7070, Automatic biO-ii.