THE MORNING OEEGONIAN. WEDNESDAY, "MARCH 15, 1922
1.x
BLOCS ARE FORMED
GEifl SESSION
FOB
Little Entente and Poland
Close Conference.
OTHER MOVES STARTED
Obvious Purpose of Meetings Is to
Give World Notice That Xew
Map Must Stand.
(Copyright by the New Tork World. Pub
lished by Arrangement.)
BERLIN', March 14. (Special Wire.
less.1 The Rpleraae conference of
the little entente states and Poland
has cloned with one important reso
lution, namely that the Genoa confer
ence must not touch the peace treat
ies. Today a similar conference was
opened in Warsaw, with tne loreign
ministers of Poland, Latvia, Lettland
and Finland as participants, who will
declare for solidarity of front to
wards outside policies affecting their
several states.
The obvious purpose of these meet
ings is to give the world formal no
tice that a new map of Europe has
been created by the war and that the
map must stand. Peace treaties in
which the seven new and enlarged
governments of central Europe have
engaged are regarded as vital, and
those concerned in them are forming
a "bloc" to uphold at Genoa Premier
Poincare's stand in regard to these
treaties.
Lithuania Only Absentee.
The only country not enlisted in
the movement is Lithuania. That
country is the immediate objective of
the-Pilsudsk! group in Poland, wmcn
hopes to include Lithuania within a
Polish federation, or otherwise to
link the. two countries in peculiar in
timacy. Individually these states
might be weak, but if united under
the able leadership of Premier tsenes
of Czecho-SIovakia they may well
appear at Genoa as a formidable
errouo.
As old Russian Influence remains
etrong in Belgrade, the Czech leaa
ers in the bloc project found ami-
culty there in reconciling the jugo
Slavs to relations with the ex-Rus
eian Baltic interests, but the prestige
of Premier Benes in Central Europe
since his successful activities 11
bringing about an understanding be
tween Premiers Poincare and Lloyd
George proved sufficient to bring
the former antagonists together tor
the common new cause.
Other Moves Induced.
Formation of this bloc has Induced
movements simultaneously in Swit
zerland, Holland and Scandinavia
looking to united protective action by
those countries at Genoa. .
Professor Gustave Cassel of tne
I University of Stockholm has issued
an appeal to neutrals to join lorces
in a demand for a change in me
policy, of force which has prevailed
since the end of the war."
He has urged that neutrals make
clear their refusal to take part in
any united reconstruction programme
that does not repudiate a policy 01
destruction. Military oppression must
come to an end, he says, before there
can be any progress toward recon
slruction.
His appeal has reached sympathetic
listeners in all the neutral countries,
for these countries are uniformly in
depression because of the steady de
preciation of German currency. In
one sense the appeal -may be con
strued as in German Interest, for, if
effectual, it will range the neutrals
on the German side in opposition to
block of the new states under the
leadership of France. ,
ago from the St. Paul Pioneer Press,
on which he had earned a wide repu
tation as a railroad reporter, and for
a few years was telegraph editor of
The Oregonian. He left newspaper
work to accept an appointment as
traveling passenger agent for the
Denver & Rio Grande railroad and
remained in that service until going
to Seattle.
In the early days of Portland's
"railroad row," Mike Roche was one
of its best-known members and took
a leading part in charitable stunts
that were often arranged then for
the benefit of different institutions.
His first wife died several years ago
and he remarried after taking up his
residence at Seattle.
His second wife died about three
months ago.
His sister. Sister Pauline, who is
attached to a Catholic institution in
Baltimore, heard of her brother's con-;
dition of health and by special dispen
sation was permitted to travel to
Seattle, where she found him in a se
r:ous state. She caused his removal
to Eugene. Funeral services will be
held there this morning. The body
will be taken to Baltimore, the old
family home, for burial.
J, HARRY LEWIS JS HERE
lEGULlIY ENDS
SOON III STOCKS
Pronounced ' Strength
Shown in Afternoon.
Is
MOST ISSUES AFFECTED
SHRIXE HOSPITALS FOR CRIP
PLED CHILDREN LAUDED.
Portland Is Declared to Have Been
Lucky to Get One of Five
First Institutions.
MRS. STRONG IS ELECTED
Woman New President of Board of
Ole People's Home.
Mrs. F. R. Strong was elected presi
dent of the board of the Old People's
home at the annual meeting of the
board Monday in the chapel of the
First Presbyterian church. Other of
ficers chosen were Judge J. B. Cle-
land, first vice-president; Miss Isa
bella Gauld, second vice-president;
W. A. Johnson, secretary; Mrs.
Simeon Winch. assistant secretary;
Mrs. Hannah B. Robertson, corres
ponding secretary; W. M. Ladd,
treasurer; Mrs. Willis Duniway, as
sistant treasurer. Other members of
the board are Mrs. Sigmund Frank,
Mrs. J. S. Bradley. Mrs. Herbert Hol
man, Mrs. John Ross Dickson, Mrs.
James D. Hart, Mrs. F. E. Judd, Mrs.
Thornton T. Munger. Mrs. A. F.
Biles, Mrs. Florence West, George
Lawrence, Jr., and Joseph N. Teal.
Miss Elizabeth M. Matthews, super
intendent, gave an interesting review
of the year's work. Plans are-being
made for the Easter tea, which Is an
annual event.
HIGHWAY BONDS BID IN
Carstens & L'arle Highest, AVith
101.78 for Total of $1500,000.
SALEM, Or., March 14. (Special.)
Carstens & Earle of Seattle today
submitted to the state board of con
trol the highest bid for $500,000 of
state co-operative highway bonds.
The bid was 104.78, or a total of
$523,900. John E. Price & Co. of
Seattle, submitted the second highest
bid.
The money derived from these bonds
will be matched1 by the federal gov
ernment for the -construction of post
and forest roads. The bonds will be
delivered to the highest bidder within
the next ten days.
'Shriners of North America in
launching the crippled children's hos
pital project have struck upon the
greatest charity in the world," said J.
Harry Lewis, publisher of the Cres
cent, the official publication of the
Ancient and Arabic Order of Nobles
of the Mystic Shrine, who arrived in
Portland last night from San Francisco.
Everywhere I go, among Shriners
of North America I find the same
sentiment of delight at being able by
a small per capita tax to construct
hospitals and help little cripples to
become well again."
Mr. Lewis declared that five of the
hospitals authorized by the committee
w'ould he completed this summer and
that other hospitals would be Bhiilt
by the Shrine in rapid succession.
"Portland is fortunate indeed in
having been designated as one of the
cities to get a Shrine -hospital." J
This is the first visit that "Mr,
Lewis has made to Portland since the
1920 national gathering. At that time
he engaged Mark Woodruff, well
known Portland newspaper man, to
become the managing editor of the
Crescent. Mr. Woodruff has enlarged
the publication and added many ira
provements.
A group of Portland Shriners
greeted Mr. Lewis at the union sta
tion and accompanied him to the
Multnomah hotel. Mr. Lewis will
leave for Seattle tonight.
Sharp Recovery In Foreign Ex
change Is Factor Aggressive
Operations Follow.
BRIDGE PLANS DEVELOP
SELLWOOD COMMITTEE NAMED
TO LAUNCH CAMPAIGN.
Advantages of Span Across" River
to Connect Highway Will Be
Promoted by Community.
A special committee to manage
campaign Tor the creation or gen
eral sentiment favorable to construc
tion of the proposed highway bridge
across me Willamette river at oeii
wood, was announced yesterday by
A. N. Wills, president of the Sellwood
board of trade and community club.
H. E. Sellwood is the chairman, and
the other members are L. H. Alex
ander, Reine B. Wright, Kenneth
Brown and H. W. Black.
This committee will formulate
plans for a general campaign, m
which it will undertake to enlist the
support of other community and im
provement organizations and vari
ous other civic boaies. -
President Wills also announced as
standing committees for the Sellwood
club the following selections: Go
get-'em committee, H. S. Upham,
Walter E. Critchlow, Charles B. Tur-
lay, L. H. Alexander and H. M. Huff;
social, Peter Livingston, H. E. Sell-
wood, J. W. CandwelL Berlin Davis
and J. E. Reinke.
CABELL ESTATE $1,371,786
Largest Single Item is Gasco Build
ing, Appraised at $1,100,000.
The estate of the late Emily Failing
Cabell appraises J 1.371,786.71, accord
ing to the inventory filed with County
Clerk Beverldge yesterday by David
S. Stearns, B. D. Sigler and Henry E.
Reed, appraisers.
The largest single item in the
estate, which consists chiefly of real
estate, stocks and bonds, is the Gasco
building. Fifth and Alder streets, val
ued at $1,100,000. The property in
cluded liberty bonds to the total of
$28,000 and war savings stamps in
the sum of $3000.
M. J. ROCHE SUCCUMBS
Ex-Telegraph Editor of The Ore
gonian Passes Away at Eugene.
M. J. Roche died yesterday at Eu
gene. He was one of the best-known
railroad men in the west, though for
several years he has been identified
with a railroad folder system, with
headquarters at Seattle.
lie came to Portland about SO years
JOFFRE'S DAY OUTLINED
Tentative Plans for Reception In
Portland Are Drafted.
Tentative plans for the reception to
Marshal Joffre in Portland on April
3 were drafted at a luncheon at the
Chamber of Commerce yesterday at
tended by an executive committee of
seven members appointed by the gen
eral arrangements committee.
The marshal will be met at. the
union station at 7:20 A. M., will eat
breakfast at the Multnomah hotel at
8 o'clock, will be given a military
escort through the streets of the city
at 9 o'clock, will participate in cere
monies on the interstate bridge at
0:30 o'clock, will start out the Co
lumbia river highway at 11 o'clock,
will eat luncheon at Multnomah Falls
at 12:45 o'clock, will be the guest of
honor at a banquet at 7 P. M. m
Portland, and will speak at a mass
meeting in the auditorium or armory
at 9 P. M.
EARLY SPRAYING URGED
Grays Harbor County Agriculturist
Reports on Fruit.
MON'TESANOl March 14. (Special.)
The necessity for early use of the
dormant fruit spray for orchards of
this county has been urged by C T.
Chamberlain, county horticulturist.
Wet weather has delayed fruit rais
ers in this work, which should be done
the next dry dajr, he said.
Berry patches are in good shape,
Mr. Chamberlain said. He said the
logan and raspberries on the county
farm, managed by Fred Crook, were
as fine as any he ever saw in the
Puyallup valley. Fruit trees, for the
most part very old orchards, are not
in good shape in this county.
Scio Councilman Stricken.
SCIO, Or., March 14. (Special.)
City Councilman Hollis was taken to
the Scio hospital late Saturday after
noon and operated on to relieve con
gestion of the lungs. During the
night following the operation spinal
meningitis set in and it has taken the
best medical skill obtainable to keep
him alive the last 48 hours. His
mother and two brothers were sum
moned from Chico, Cal. Mr. Hollis is
proprietor of a confectionery store
and is prominent in the social life of
the community as well as in political
circles, and has been mentioned as a
possible successor to J. S. Sticks as
city recorder. Mr. Hollis was en
gaged in business in Portland until a
few years ago, and is well known
there.
Orpheum matinee today, 15-25-jO-Ad.
BY MONITOR,.
(Copyright by the Public Ledger company.
Published by arrangement.)
NEW YORK, March 14. (Special.)
Early irregularity in today's stock market.
due in part to a further violent decline
in foreign exchange and in part to doubt
aa to the final outcome on the four-power
treaty at "Washington, gave way in the
afternoon to pronounced strength tn which
nearly all issues participated..
A sham recovery in the foreign ex
changes, the course of which waa followed
by the grain markets, was taken to indi
cate favorable developments in the po
litical situation abroad. The recovery In
the exchanges was followed by aggressive
operations tor the advance ia the stock
market, and prices closed at about the
highest of the day.
Substantial advances In the dividend-
nayinsr railroad atocka in the aiternoon,
accompanied by similar movements in the
pVeferred stocks of a large number of in
dustrial corporations, gave & more con
servative tone to the day's operation than
has been witnessed recently. Not that
pool activities were not in evidence, for
number of specialties and iow-prlceu
rails were aggressively bought by their
speculative sponsors. Hack of this move
ment, however, was the solid support of
the Investment issues.
m
Among the notable movements of the
day were those in the United States Cast
Iron Pipe issues, due to a Better realiza
tion of the possibilities effected by the re
cent acQuisition by that company of the
widely discussed manufacturing process to
which it has obtained the American, rights.
The annual report to be made public to
morrow is expected to substantiate in large
degree the claims which have been ad
vanced by recent buyers. Consolidated Gas
and Brooklyn Union Gas both were favor
ably affected by the mandate of the United
States ' supreme court issued today. The
oils were, neglected, as were the coppers.
Profit taking was responsible for a sharp.
setback in the Market street railway issues.
The steel stocks all were strong on reports
of improvement in the operating ratio of
the mills in the Chicago district.
Trading in cotton was within a narrow
range, an early decline being recorded be
fore the close. The effects of the New
England strikes in the textile mills is
shown by the census bureau's report on
consumption during February. The tak.
ings of domestic mills during that month
amounted to 473,000 bales, as compared
with 57.000 bales in January. This year's
figure Is, however, 7e,000 bales larger
than that for February a year ago. Ex-
oorts during the month were 338,000 bales,
as compared with 476,000 in January and
493.000 a year ago.
On the eve of government withdraw'
als from the local banks which are ex
pected to total $80,000,000 call money ruled
throughout the day at 4 per cent. There
was no change in the prevailing rates
for time money, although small loans for
30 and 60 days were reported at 4
per cent.
The reactionary tendency displayed in
the stock market yesterday afternoon con
tinued with lessened force during the first
hour today. As offerings . decreased, pools
became more confident, and in their at
tempts to rally their favorites met with
a large measure or success, specialties
again were the chief points of interest al
though in the afternoon the high grade
dividend paying rails and industrial stocks
in the class of consolidated gas and Amer
ican Telegraph & Telephone were in de
mand.
The conspicuous features of ' strength
were the United States Cast Iron Pipe is
sues, both of which advanced to new high
records for the present movement. Buying
in the common was of the most confident
and aggressive character, and resulted in
6 -point gain with the closing prac
tically at the top. Firms which have
been active in the buying insist that the
present movement cannot be compared
with any other advance in a given stock.
The bulk of the buying below 30 was for
the account of foundry interests who, in
order to participate in the royalties to
be received miAt be stockholders. That
stock cannot come on the market except
at the sacrifice of royalty participation.
Buying this afternoon was of this same
character.
eclved from the working public of
the state of Washington and that it
I has been dissipated in various ven
tures by the financial concerns men
tioned in the complaint, is alleged
in documents filed in a suit brought
here today in the King county su
perior court by the Dragon Motor
company . of Seattle, asking $37,
725.95 damages from George P. List
man, E. B. Ault, T. Berte Smith, John
J. Conway and M. M. Lyter.
Fraud in the cancellation of con
tracts between' - the Dragon Motor
company and the United Distributors
company is alleged. Appointment of
a receiver for the Listman Service
company, the United Finance com
pany, the Inland Finance company,
Spokane, the Ace Distributing com
pany, and the General Distributor
company is also sought. I
The claim is made in the complaint
that stock in the companies was sold
to more than 2000 working men and
women in the state and that as the
result of an agreement between the
various companies the finances were
juggled about among them. The men
mentioned are alleged to have been
members of a ''syndicate" organized
to take a profit from the operations
of the concerns involved.
STATE, COLLEGE AGREE
WHEAT MARKET RALLIES
COMMISSION HOUSE BUYING
LIFTS CHICAGO PRICES.
Values Firm in Spite of Iiower
Quotations at' Liverpool and
, Rains in Southwest.
FARM BUREAU AND EXTEN
SION SERVTCE TO CO-OPERATE.
The sugar stocks, and particularly the
low-priced issues, all were firm today. In
the last hour Cuba Cane preferred and
common, and Cuban American were ag-
gressiveely bought. The greatly improved
financial situation or the (juoa cane cor
poration is responsible for the buying in
that stock which is attributed to bank
ing interests. Trade news of the day was
mixed, raw sugar prices being shaded an
eighth of a cent in the morning, but some
Phillipine sugars showing a one-eighth, of
a cent advance in the afternoon over the
prices paid for duty-free Porto Rica in
the morning. Buying In this group gen
erally is of a substantial character.
The annual- report of Famous Players-
Lasky corporation showing $19.01 net
served only to bring short selling into
that stock today. The buying was report
ed as for the account of interests domi
nant in the corporation who express the
opinion that an $8 stock earning $19 per
share is entitled to sell much nigner in
the present market.
Consolidated Gas and its companion
stock, Brooklyn Union Gas. both advanced
vigorously today. The mandate of the
United States supreme court releasing the
impcundid funds of the Consolidated Gas
company expedites that action by 30 days,
under the normal procedure. This was
sufficient legislation for traders. Dis
missal of the suit, similar in character to
that decided by the court in favor of the
Consolidated Gas company last week was
exoected but had none the less a favor
able effect upon the stock of the Brooklyn
Union company.
Some weeks ago it was pointed out in
well-informed quarters that accumulation
of Midvale Steel -and Ordinance was in
progress. That announcement resulted in
an unwieldy long following and the stock
has been held back, tiring these holders
out. The same character of accumulation
now is in progress, but when it will make
its effect shown is problematical. In
mportant quarters It was said today that
ts effect might be seen within & few
days.
Stockholders of Sinclair Consolidated Oil
will hold a special meeting April 19 to
authorize issuance of $100,000,000 7 per
cent 15-year collateral trust bonds and the
sale of $45,000,000 of this issue. If ap
proved, it is proposed to retire approxi
mately $46,000,000 of 5-year 7 per cent
convertible notes. .
It was reported today that the Columbia
Graphophone note holders committee has
eceived 1 4 per cent ot the outstanding 8
per cent notes ana uie deposit or sutri-
ient additional notes nas oeen pieuged to
total the 75 per cent which the committee
considered would be necessary before pre
senting a plan of reorganization.
American Woolen was one of the strong
features, crossing 90 in the late trading.
The quotation is gradually reaching the
price at which $20,000,000 stock was of
fered to the public.
A shipment of $2,600,000 in Russian gold
arrived here today for the account of the
American relief committee in Russia. This
makes the third shipment on this account
and brings the total to $10,339,200. No
further gold for this account is expected
here in the near future. A shipment of
$777,900 in German gold marks also ar
rived today. -
Conference Held Here Results in
Memorandum of Understanding
Satisfactory to Both.
At a meeting in the offices of the
Oregon state farm bureau yesterday
of the executive committee of the
bureau and agents of the Oregon Ag
ricultural college, complete under
standing as to their relationship was
reached. Paul V. Maris, director of
extension work; C. J. Hurd, J. L. Bal
lard and W. L. Kadderly, county
agent leaders, and Mrs. Jessie D.
McCorab, in charge1 of home demon
stration work, represented the col
lege.
J. R. Howard, president of th
American Farm Bureau Federation
ana a. tj. l rue, director oi states, re
lation service, entered into an agree
ment April 21, 1921, defining the re
latlonship of the bureau and the ex
tension service. Yesterday's confer
ence was for the purpose of workin
out a similar agreement for Oregon
and participants expressed satisfac
tion at the outcome.
A memorandum of understandin
was agreed upon covering fully the
relations between the extension serv
ice and the farm bureau in such
way as to be highly satisfactory to
the extension service and the offi
cers of the state farm bureau, it was
anuounced. This will be signed by
George A. Mansfield, president of the
Oregon State Farm bureau, and Will
lam A. Aird, secretary-treasurer, als
Frank McKennon, E. C. Brown, J. C.
Leedy and V. H. Smith, members of
the executive committee and Mr
Maris.
MUSICAL FETE PLANNED
Sunday Municipal Concert to Be
Prelude of Grand Opera.
As a prelude' to the opera season to
be staged next week by Mary Garden
and the Chicago Grand Opera com
pany, the Portland Opera association
will present an afternoon of grand
opera as the feature of the regular
municipal concert next Sunday after-
noon. The company of 50 perform
ers, including many of Portland's
leading singers, will present as a spe
cial feature the big, musical church
scene from "The Force of Destiny.1
This scene will be given with com
plete stage arrangement, lighting ef
fects and all.
Edward Moshofsky, the noted Bo
hemian basso, who created such i
sensation when he sang in this opera
year ago in Portland, will sing,
having arrived from New York last
week for that purpose.
The chorus in the opera will be
conducted by Relorto Corrucini.
CONCILIATION IS IGNORED
Chairman of State Board Explains
Klamath Falls Strike Status.
William F. Woodward, chairman of
the state board of conciliation, yes
terday afternoon received from the
editor of the Klamath Falls Herald a
query as to what the board is doing
relative to the lumber strike in that
region. Mr. Woodward telegraphed
him that the board several days ago
offered its services to Mayor Wiley
and stated Its position, but had re
ceived no reply nor further word of
ny kind. . .
Mr. Woodward also directed a let
ter to the Herald editor, amplifying
his telegram, in which he explained
that the board s requirements for im
mediate cessation of the strike and
agreement by both sides to accept th
boards findings, is the policy upon
which it always-works and that these
essentials must be complied with be
fore the members of the board can
take any further steps.
$50,000 SUITJS HEARD
Testimony Fails Fully to' Support
Plaintiff's Allegations.
Testimony which failed fully to
support allegations of the plaintiff in
the $50,000 damage suit filed by John
Olney against the Portland Railway,
Light & Power company was given
by one of his principal witnesses on
the stand yesterday in the court of
Circuit Judge Bingham of Salem, sit
ting in Portland.
Dr. E. de Witt Connell, physician
called by the plaintiff as his second
witness, testified that while the loss
of hearing sustained by Olney when
injured by the derailment of a street
car at Woodstock avenue and Ninety-
nun street ssoutneast, on March 30,
1919, probably was due to the. acci
dent, that" he did not think the loss
of he sight In one eye could be at
tributed to the injuries received at
that time. .
$2,000,000 DUPE ALLEGED
Dragon Motor Company Files Suit
for Damages at Seattle.
SEATTLE, Wash., March 14. That
more than $2,000,000 has been re-
CHARTER RELIEF OPPOSED
Salem Council Will Be Asked to
Deny Street Car Concessions.
SALEM, Or., March 14. (Special.)
The city council, at its next meeting,
will be asked to reject all requests for
a change in the franchise of the Sa
lem Street Railway company, a sub
sidiary of the Southern Pacific lines.
Because of decreases in revenue the
company asked permission to abandon
one of its lines, to establish a 30-min-ute
service on other lines, instead of
a 15-minute service, and to be re
lieved from paying the cost of pave
ment between the rails. The request
also was made that the streetcar
company be allowed to lay a lighter
rail, and that the city assume the ex
pense of new. or replaced bridges.
The proposed increase of streetcar
fares in Salem from 5 to 6 cents also
will be opposed by the committee, to
which the requests were referred for
Investigation.
Orpheum matinee today, 15-25-50-Ad.
. . 1
CHICAGO, March 14. Upturns In the
price of wheat resulted today from en
larged commission house buying, based
somewhat on opinions that a rally from
the recent severe decline -was due. . The
market closed unsettled, at the same as
yesterday's finish to la higher, with May,
1.3'4 to 1.34, and July. S1.10V4 to
$1.15. Corn gained c to c. Oats
finished 14c off to lie advance and pro
visions varied from unchanged figures to
a rise of 20c
Notwithstanding lower quotations from
Liverpool, there was no rush here to sell
wheat at the opening and the fact became
quite evident that liquidation which had
been a conspicuous factor of late was
ended for at least the time being. Fur
ther rains in the southwest, -like the weak
ness at Liverpool, counted only as a tran
sient bearish influence. With a few strong
commission houses taking to the buying
side, the market gradually developed an
upward tendency that during the greater
part of the day much more than offset
initial declines in prices.
Corn and oats were steadied by the ac
tion of the wheat market.
Packers' buying lifted the provision
market a little, although for a while
lower quotations on hogs had a depressing
influence on values. , .
The Chicago grain letter received yes
terday by the Overbeck & Cooke company
of Portland follows:
Wheat -Market was unsettled, breaking
early with May and July at new low on
the present downturn, but a rally of 2hi to
3c from The inside figures followed, com
mission houses absorbing the offerings on
the break and local shorts covering freely
on the way up. At the inside figures to
day prices were 1415c under the re
cent top and the rally. -.vhi.:h. fnlio-.ved the
early break was not surprising. Sentiment
is decidedly mixed and it is generally ex
pected that an erratic marltet will De wit
nessed. Crop and weather reports from
the southwest were generally favorable nd
while the May-July spread was only 17
cents at one time early, U widened out
later to over 18 cents, with May showing
the most strength. Export demand was
reported as slow, although Toronto claimed
over 2,500,000 bushels Manitooas -were
worked for export yesterday and some
business was put through at the seaboard
today. Liverpool closed 5 pence lower and
Buenos Aires opened lc lower, the decline
in exchange being a factor in the latter
market. Sterling was lower and off around
16 points from the recent high. It looks
like the market will be a scalping affair
for the next few days.
Corn and oats Lower early, but more
than recovered the loss later. At 60 cents
for May corn, the price was down to equal
the inside figure of the recent break, but
there was a good class of commission house
buying on the decline and a rally of over
a cent was easily attained. The 'expert
and domestic demand for both grains was
rather slow. Country offerings remain
small. Cash corn gained c to c for
May, with yellow 3 c under the future.
Sentiment is decidedly mixed and coarse
grains will follow the trend of wheat. .
Leading futures ranged as follows:
WHEAT LEADS COTTON IN EXPORTS
Shipments Last Year Largest in Historj
of Country.
tame oat. $1518: wild oat, $tl13; al
falfa, $1417; stock, $J10; straw, nominal.
Minneapolis Wheat Futures.
MINNEAPOLIS, March 14. Wheat
May, $1.38 i4; July, $1.30.
Winnipeg Wheat Market.
WINNIPEG, March 14- Wheat May,
H-39; July, $1,28:,. . -
Seattle Grain Market.
SEATTLE. March 14. Wheat, hard
white, soft white, white .club, soft red
winter, northern spring, $1.25; hard red
winter. $1.28; eastern red, Walla, $1.22,
Big Bend .biuestem, $1.48.
Dulutn Linseed Market.
DULUTH, March 14. Flaxseed, on track
$2.53i&2.55; to arrive $2.532.54.
COTTON EXCHANGE IS HIT
ACTUAL TRADING DECLARED
TO BE RARE THING.
Southern Speculator Reported to
Be at Mercy of New York Bro
ker ; Investigation Begun.
is&w 1URK, March 14. Charges
that the American cotton exchange is
a huge bucketshoo. where actual
trading is rare and where the south
ern speculator ia at the mercy of the
New York broker, were made .today
by -ex-members of the exchange at a
"John Doe" investigation conducted
by the ' district attorney's office be
fore Chief City Magistrate McAdoo.
Witnesses testified to numerous in
stances of "cross tradings." fictitious
orders dummy accounts, scalping, se
cret manipulation of unrecorded
transactions, sensational advertising
designed to woo the business of small
speculators in the south and undis
guised bucketing of orders.
W. B. Wilson and J. H. Watson,
members of the firm of Wilson & Co.,
which was expelled from the exchange
last February 28 on charges that they
had warned their clients against
further dealings with the institution,
were principal witnesses for the
prosecution.
"When there was cotton for sale
in the ring we made bona fide sales
for our clients, " Mr. WiLson testified.
"But the s-outherner, who is an
optimist about the cotton market, al
most Invariably bought. As a result
there seldom was any cottbn for sale
and brokers simply 'bucketed' the
orders, taking a chance on covering
themselves when cotton eventually
waa offered in the ring."
rR.WFI.EKS' IIIE.
TRAVEL UNDER THE BLACK-TOPPED RED FUNNEL
9a ENGLAND (77
The CONTINENT
Via MONTREAL ,
Plan Your Trip on a Vessel of the
Cunard Line's Canadian Service
Start from Montreal on your European trip. You can ra
direct to Liverpool, or direct to London, or to London vis
Plymouth and Cherbourg, France. Thin TO can easily
reach either the North or South of England, or the Conti
nent, and incidentally on your way across see the St. Law
rence River region, one of the most strikingly beautiful
parts of America.
The Cunard Line's Canadian Service includes a fleet of
five oil-burning vessela, among the finest which nil -from
Montreal. Each embodies the most modern and thoroughly
tested features designed to promote the traveler comfort
and pleasure. These ihipt are worthy of the high tradition
of Cunard Service.
(pinSTAKD TINE
CANADIAN SERVICeJL-4
621 Second Ave., Seattle.
Phone Elliott 1632
r"-"1-1 t'jJ"-M"IB'll'i;fg""B-lli'lnliul n
E li:H;V.i( IILl '
iKeeular service between Portland, Maine; Philadelphia, Boston, m
ivew xorK ana los Angeles, ban f ranciaco, r-oruana, Oregon;
Seattle and Tacoma via the Panama canal.) North Atlantlo aaj
western & e. Co. sguv-ton steel vessels
KASTBOCNn
From
Portland. Or.
(ARTfOAS Mar. 20
! WABASH Mar. 23
'LEHIGH Mar. 20
9
WESTBOUND
From From
Portland. M. Boiton.
DOC Iff K A Leave New Vork
f 'Ol.lt H.ARROK. . . ..Mar. 28 Apr. 1
KLIK TKIANt.I.E. . .Apr. 13 Apr. IS
Cargo space under refrigeration.
her Information Apply to
For Furt
1 101 Third Street.
THR AU31IHAL LI MO. Pacific Coast Asre.ta.
Pboac- Jlrottdwa?
From p .1
I'hlia KJ
Mitr. tn 1, 1
Apr. if J
Apr. to I;-J
;
WASHINGTON, March 14. Wheat was
king of American agricultural exports in
1U21.
An analysis of the 1921 exports of 32
of the principal ag-riculturai products
grown in the United States, made public
today by the department or agriculture,
shows that more wheat was exported last
year than in any preceding year in the
history of the country, and that for the
first time the export value of wheat and
wheat flour exceeded the value of cotton
exports. Exports of corn in 192L including
cornmeal, converted into terms of corn.
were larger than in any year since 100.
Since 1919 the United State has become
an exporter of rice, the exports of oOO,
OoO.OOO pounds In 1921 being more than 23
times the average annual rice exports In
the five-year period, 1910 to 19J4.
The principal agricultural exports during
1921 and their declared values were:
Wheat and wheat flour, $351,000,000: cot
ton, $."i34,OO0.000 ; pork and pork products,
including lard,. $246,000,00; leaf tobacco,
$20v, 000,000; corn and cornmeal, $97,000,
000; sugar, $49,000,000; rye. $44,000,000;
condensed and evaporated milk, $38,000,
000; cottonseed oil, $24,000,000; rice, $21,
000,000, and barley, $21,000,000. Exports
which showed an increase in quantity over
l-'0 were wneat, cotton, corn, rice, bar
ley, pork and pork products, except bacon.
oleo oil, cottonseed oil and cake, refined
sugar, green apples, eggs, tobacco, dried
apples, dried apricots and dried .prunes.
Exports which showed a decrease in
quantity were: Wheat flour, rye and rye
flour, oats, beef, bacon, butter and cheese.
condensed milk, potatoes, hops, dried
peaches and raisins.
Wheat exports totaled 279,949.000 bush
els as compared with 218,287,000 bushels
n !;:, out tne value was S4;i2.965.0oo in
1921 as compared with $596,975,000 in 1920.
a decrease of more than $160,000,000. Ex
ports or wneat rrour were IB. 800,000 bar-
els In 3 921, with a declared value ot
$117,696,000 as compared with 19,834,000
barrels valued at $224,470,000 exported In
Cotton exports In 1921 totaled 8.(178.000
bales of BOO pounds each, with a declared
value of $534,242,000 as compared witl
6,359.000 bales, valued at $1,130,409,000 ex.
ported in 192C.
Corn exports, including commeaT ran.
verted into terms of corn, totaled 132,
266.000 bushels, valued at $96,568,000, as
compared with 21,230.000 .bushels, valued
at $33,932,000 exported in 1920.
Imports of corn droDned from T 7S1 onn
Dueneis in jyz'j to i.04,iKK bushelB in 1921
rn-e imports zrum ai.woI.UUO nniinri, . t
83,895,000 pounds; cheese imports increased
irom j-j..-o-i,uvu pounds In 1920 to 23 Sftfl .
000 pound in 1921 ; imports of eggs in the
nen jump irom i.iuv.ooo dozen to
uoo.wo.
WHEAT.
Open. Hln-h.
May $ ?.314 1.34H $
Oregon Banking and Bond
News.
Financial circles find reason for op
timism in the latest report of national and
state banks of Portland as revealed in response-
to the call of the controller of the
currency for their condition as of March
10. Compared with reports of December
31 and February 21 of 1921. while defla
tion , processes brought down totals some
wnat, the actual situation with relation
to present resources, deposits, loans an
discounts and cash and exchange showed
progress and afforded basis for the belief
that business is better. .
Resources of Portland banks March 10
were J148.846.356, as against $150,452,799
for December 31, 1921, and $164,108,477
for February. 1921. Deposits March 10
were $124,846,743; December 31, 1921, $123.
739,159; February 21. 1921, $130,729,153.
Loans and discounts March 10, $86.25!,
.836; December 31, $88,900,926; February
ii. luu.ou-i.oi. (Jasn and exchange,
March 10, $32,652,222; December 31, 25,
670,658; February 21, $30,220,901.
Desky. Nicoll & Co.. a new bonil firm
is the latest to open offices in Portland,
in suite 414 Northwestern Bank building
It will deal In government and municipal
oonas. uiarence t. iiesKy and ueorge J,
Nicoll are the .managing members. Mr.
Desky has been In the bond business here
for a number of years and is well known
in investment circles throughout the state.
Mr. Nicolr has been associated with Sher
win, Williams & Co., in credit and sale
capacities for nine years, is a native Ore
gonian and has an extensive, acquaintance.
-
Portland has been getting some excellent
and widely-circulated publicity of the
choicest kind through the publk-ity de
partment of the Cchamber of Commerce,
of which Mrs. Josephiue Forney is chief,
and H. C. Price of the Ladd & Tilton bank.
In tho current quarterly of the American
Institute of Banking there are five pages
devoted to this city, featuring its roses
and rose features, including the great an
nual festival. Mrs. Forney furnished the
illustrations, which are excellent,- and Mr.
Price contributed the text, which gives a
plendid portrayal of local conditions. Tne
Institute national convention will be held
here next summer and people from all
over the United states will be present.
The Ladd & Tilton bank, the Lumber
men's Trust company and Freeman, Smith
Camo company, investment bankers.
will participate in an Issue of $45,000,000
Sinclair Consolidated Oil corporation, first
lien collateral, 15-year 7 per cent gold
bonds, to be placed upon the market today.
A. M. Wright, vice-president of the
United States National bank, was in Sa
lem on state bond business yesterday.
John R. Humphrys. cashier of the Bank
K" LINE
0T '-'i-a(j.
bo
-i s -
SPACE AVAILABLE
S. S. "Tamatsu Maru"
ARRIVAL MARCH 26TH.
S. S. "Hankow Maru"
ARRIVAL ATR1L 15TH
Freight service to all ports of Japan. Ixiading Colum
bia river district. For fyrther information apply to
SUZUKI & CO., Agents
1013-1018 Hoard of Trade BuIIiIIuk. '
July
Way
uly
May-
July
May
1.14 1.1614
CORN.
.64
OATS.
.38
.40
MESS PORK.
Low.
1.3114
113
Close.
1.83
1.15V,
.60
.63
.38
.40
.60
.62
.87 74
39
.61
.38 Vi
.4054
20.00
LARD.
May... 10.60 10.92 lo.fin in on
July ... 10.80 11.12 10.80 11.10
SHORT RIBS.
May ... 10.25 10.62 10.25 10.60
uly ... 10.00 10.20 9.97 10.17
t aan prices were:
Wheat No. S red. Jl.SlU: Nn s asni
1.30.
Corn No. 2 mixed, 86c: No. 2 yellow.
56X 5714c .
oat ino. a wnite. 3714 ersn : f tw a
white, 84 36Vic.
nye ino. z. wu Vjcro'jl.oo. -Barley
6066c.
Timothy seed $57.
Clover seed $1525.
Pork -Nominal.
Lard $10.75.
Ribs $10.25 12. '
Primary Receipts.
CHICAGO, March 14. Primary receints
Wheat, 821,000 bushels versus 671,000
bushels. Corn, 1,170,000 bushels versus
042.000 bushels. Oats, 609,000 bushels
versus 628.000 bushels.
Shipments Wheat, 549,000 bushels ver
sus 636,000 bushels. Corn, 769,000 bushels
versus 983,000 -bushels. Oats, 496,000
bushels.
Clearances Wheat, 692,000 bushels (in
cluding 593,000. bushels bonded. Flour,
2,000 barrels, corn, 305,000 bushels. Bar
ley, 62,000.
Car lota Minneapolis wneat, 2DZ; corn.
48: oats. 38; rye, lo. Winnipeg Wheat.
937; oats, 324; barley, 94. Duluth Wheat,
oi;
85;
.19;
138; crn, 85. Kansas City Wheat.
corn, 29; oats, 6. Bt. juouis wneat,
corn, 41; oats, 21. Omaha Wheat,
corn, ov ; oats, t.
Minneapolis Cadh Grain, v
Minneapolis cash grain prices, furnished
by Herrin & Rhodes, Inc., of Portland:
Wneat INO. I oars, normern, l.o9
$1,531; No. 2 dark northern, $1.401.49;
1 nortnern, si.4d(gi j..i : ino. z nort&ern.
$1.381.44; No. 3 northern $1.321.40;
durum. $1.15V4l-20,4: No. 1 dark hard
Montana. $1.441.47.
Corn No. 2 yenow, oil4 5iioic
Oats No. 2 white, 33V433c.
Barley. 48 60c.
Rye. 94g951ic.
Flax. $2.52&2.o6.
DAILY METEOROLOGICAL REPORT.
PORTLAND, March 14. Maximum tem
perature, 49 degrees: minimum, 38 degrees.
River reading, 8 A. M., 5.2 feet; change In
last 24 hours, 0.4 foot rise. Total rainfall
(5 P. M. to 5 P. M., 0.55 Inch: total rain
fall since September 1, 1921. 28.17 inches;
normal rainfall since September 1. 34.25
inches: deficiency of rairfail since Sep
tember 1. J921. 6.08 inches. Sunrise. 6:28
A. M. ; sunset, 6:15 P. M. Total sunshine
March 14, 2 hours; possible sunshine, 11
hours 49 minutes. Moonriee. .8:17 P. M.:
moonset, 7:05- A. M. Barometer (reduced
to sea level) at 5 P. M , 29.96 inches. Rel
ative humidity at 5 A. M., 93 per cent: at
noon, 85 per cent; at 5 P. M.. B per cent.
THE WEATHER.
NORTH CHINA LINE
Columbia Pacific Shipping Co.
Direct Frelfbt Service Without Trantablpmeai
PORTLAND
TO
Yokoham a, Kobe, Shanghai, Tftingtao,
Tientsin ( Taku Bar ) , Chinw angtao, Da iren
S. S. WEST KADER March 2T S. 8. LAS VEOAS April IT
Shanghai, Manila, Hongkong
S. S. WEST COYOTE March 17 8. S. WEST K KATES April 17
For further information regarding space, rates, etc., apply to TRAM-'IC PKPT.,
009-52 Board of Trade Bids'., Portland, Oregon, or Astoria Shipping Co., Anuria,
Oregon, or R. T. Johns & Co., Central Bldg., beattle. Wash.
of Commerce. Oregon City, was transact
ing business in Portland yesterday and
called on various bankers.
Alfred C. Schmitt, formerly president of
the First National bank of Albany, hs
Joined the staff of Oregon Agricultural
college. He was a caller at the United
States National bank here yesterday.
A dividend amounting to $30,000 will
be paid by the Northwestern Electric com
pany to Its stockholders April 1. This was
the announcement made by officials of the
company yesterday. The distribution will
be to holders of the original 6 per cent
preferred Btock and to those who have
purchaseed the latest Issue of 7 per cent
stock. It is the 28th consecutive dividend
vt-ted by the company.
Every large city has one newspaper
which, by universal consent, is the
Want-Ad medium of the community.
In Pnrtlnnd it's The Oregonian,
g & t Wind I
s I g 3-5 j 3
STATIONS. 3a2KC I " Wathr.
a! '
Baker
Boise .......
Boston
Calgary
Chicago
Denver
Des Moines..
Eureka
Galveston ..
Helena
Juneaut
Kansas City.
Los Angeles.
Marshfield
Med ford ..
Minneapolis
New Orleans
New York. .
North Head
Phoenix
Pocatello ...
Portland ...
Roseburg
Sacramento .
St. Louis. . .
Salt Lake...
San Diego...
S. Francisco.
Seattle
Sltkat
Spokane
Tacoma
Tatoosh Isd.
Vaidezt ....
Walla Walla.
Washington
Winnipeg ...
Yakima . . .
30 44IO.00!10SB
8B B4I0.00I18ISE
42 82,0.00110 W
12 40:0.OOil2!E
50 50;0.00!18!N
801 64 0.0Oi..!K
441 56 0.00!. .IN
44 54 0.42!22iSW
62
SOiO.OOlOiNW
42!0.00 .. NW
34iO.no . .
52'2.58 12 N
68 O.OOL.IW
48.0.82!. .IS
5R'0.00:12!SW
341 460. 001... IN
681 80 0.101. .ISW
42 68jO.O0;i8iW
36l 40 0.8212;SE
44L 76,0.00 ..INB
46 0.00 . .IS
49 0.55!12;SW
58 0. 00jl2 SW
62 0.00!. . SW
5611.18 14 SB
52,0.00 . . NW
6010.00 . . NW
5110.00
40:0.42 .. SE
3810.00
5010,10 ..(SW
4210.40 . . S
42!0.88 14 NE
I'ISiO.OO
56 0.00 . . NW
6010.02 .. N
! 40i0.00 . . NW
56:0.00 . . ES
Clear
Cloudy
Pt.' cloudy
t. lear
Cfoudy
Clear
Clear
Cloudy
Clear
Clear
Clear
Cloudy
Rain
Clear
Clear
Clear
Pt. cloudy
Rain
Clear
Cloudy
Kain
Pt. cloudy
Pt. cloudy
Cloudy
Cloudy
Clear
Pt. cloudy
Rain
Pt. cloudy
Rain
Cloudy
Cloudy
Kain
Clear
Pt. cloudy
A. M. today.
day.' -
P. M. report of preceding
SAN
Grain mt San Francisco.
FRANCISCO, March 14.-
-Wheat,
illing, $2.232.30: feed. $2.2002
barley, feed. 1.32 (S 1.3i ; shipping,
$1.37V4 1.50; oats, red feed, $1.601.6.V,
corn, white Egyptian, $22.10; red milo,
$1.85 1.90.
. Hay Wheat, $1719; fair, $1417;
Portland
winds.
Oregon
pout hprly i
FORECASTS,
and vicinity Rain
.nd
Washington-
southerly
-Rain; fresh
rrSERAI, NOTICES.
KARLSON In this city. Emelia S. Karl
son of 766 East Glisan street, in tile
Emanuel hospital at the age of 56 years,
wife of Eric Karlson and mother of
Ruth, Edith and Anna Karlson. Funeral
services 3 P. M. Thursday at the East
Side Funeral Directors. 414 East Alder
street. Burial at the eremitorium and
Mount Scott Park cemetery.
(cbmadiahIT
VV rvtcinc
PILGRIMAGE
TO
XXVI INTERNATIONAL
EUCHARISTIC CONGRESS
ROME .
MAY 24 TO 29, 1922
BY
Canadian Pacific
s.s. montreal
"Montreal to Naples May 6th
Round trip fares Paris to Ober
ammergau "PASSION PLAY,"
including three days' board and
admission.
Tickets and Information
W. IL DEACON
Gen. Agt, Pass. Dept.
CANADIAN PACIFIC
RAILWAY
55 Third Street
(Multnomah Hotel Bldg.)
TiiKorr.it
SERVICK TO (A I.I FORM A
SAX FRASf'I.SCO
LOS ANt.KI.KS
HAN DIEUO
Leave Municipal Dock No. 3
Ev.rv SHturrlsy, 4 P M.
SS. Admiral Evaus. ... March 1
SN. eienator Mr-h t.l
bS. Admiral Ktans April 1
Local service to Mnrnh field.
Eureka and Sen FrwncNco
biS. Admiral Rodman, March tl
Every 14 days ihorealter.
Full Information at
TICKET OlMCK
101 THIRD ST., (OR. STARK
PHONE BROADWAY 648L
South America
by one of the famous V fleet
( S. S. Vcslris
Sailing March 25th
for Rio de Janeiro-Montevideo
and Buenos Aires
Escape the discomfort of the
Winter months. Visit tioulh
America on this "Do Luxe" V
Steamer. .Special round trip at
low rates with ample stopover
at porta of call. Yensels are
fitted with every device for
safety and comfort.
Kor ratr'S and further pit rt Ir-uln r
apply company's oflire, 42 Hrr.ail
way. New York, or any Stesoiwhlp
or Tourlwt Aawit or Dnrev 1.
Smith, 190 Broad ay. Portland, Or.
Lamport & Holt Line
AUSTRALIA
KBW ZEALAND AND SOUTH SKAI
la Tahiti aad Haratoaga. Mall aaa
aueacer aervica from aaa a'ranelaca
every dava.
liMUN S. 8. CO. Of NEW KEALANI)
SUIO California St., San Fraaclaea.
ar local atcajoahlv and railroad a eactea,
ew York Havre Paris
Paris M nr. 1.1 Apr. B Apr. SB
Kochamhcau Mar. Apr. tl Jun. 1
La Ixirraine Apr. 1
C hicago ' r. May II .Imi. 1.1
France Apr. VI .May 10 May .11
La To II mine Apr. ft May 2.1 J mi.
La Kavoir May Jua. 10 Jul. II
KW YORK VK.O (SPAIN) IIAVKK
La liourdonnuis April IS
Fua-asi llro.. Pacific Coast A-enf.
109 Cherry Kt., Seattle, or Local Offlre.
ASTORIA and WAY POINTS
da v passk;kii skryick
I.v. Portland Tura., Thar.. Sat- A. 11.
Lv. Astoria i-ii, KrL. San. It A. 11.
Fare S1.H3 Eark IV ny, .1 Itinind Trip.
Bd-iry. 0344. Foot Alder St.
rum UARKLXS TUA.W. CO.
1