26
THE MORNING OREGONIAN, WEDNESDAY, MAT 17, 1923
COFFEE MARKET1
! CLOSE COUTH
Brazilian Loan Ties Up Large
Part of Supply.
VISIBLE STOCKS SMALL
World Practically Placed on Hand
it to-Mouth Basis for the
J Coming Year.
The strong position of the coffee mar
ket the world over shows that the market
has quickly adjusted itself to the recent
action of Brazil, which practically amounts
tc the withdrawal of about 4.500,000 bags
ttom consumption. This great amount of
coffee is being held as collateral for the
Brazilian coffee security loan, which was
floated a few days ago.
Segregation of this ioan coffee requires
new method of figuring in determining
supplies, as the trade will have to con
sider the available visible supplies of the
world rather than the actual statistical
figures, as shown in the following table:
Bags.
May 1. 1922, world's visible supply 8,824.735
Segregated as loan collateral. . . .4,535.000
May 1, available visible supply. .4.289,735
This is only about two and one-naif
months' supply for consumption require
ments, which is certainly a hand to mouth
La sis.
The available visible supply figures will
undoubtedly be further reduced by July
1, and with, the coming world's crop esti
mated at about 16,000,000 to 17,000,000
hags, there will not be sufficient free
available supplies of coffee in sight to
take care of present yearly consumption
requirements.
The Brazilians and their bankers un
doubtedly had some such view of the sit
uation before them and had no difficulty
ih visualizing a coffee world pleading
for the sale of the yearly allotment In
order to keep the world's roasters going.
For these reasons the strong uplift that
the market has received occasions no sur
prise in the trade and it is believed that
prices will continue to move forward In
the same direction.
. NEW YORK, May 16.
coffee futures closed a
the best under realizing,
gains of 2 to 12 points.
-The market -for
shade off from
but Bhowed net
Sales were esti
mated at about 30,000 bags. May, 10.60;
July, 10.44; September, 9.88; October. 9.90;
December, 9.74; January, 9.67; March,
9.53. Spot coffee dull; Rio 7s, 11c; Santos
4 14Vt14c.
Kt ROPE AX CROP WEATHER IS GOOD
Conditions Favorable in Western Sections.
Australian Acreage Larger.
Crop conditions abroad are summarized
by Broomhall as follows:
, Western Europe Weather throughout
the greater part of this section of Europe
has been warm and more favorable for
the crops.
Spain There have been no complaints
regarding the wheat crop. Spring cereals
in general are about normal.
Italy in the northern sections excessive
rains have been experienced, while the
aouth parts of the country are drouthy.
Rumania Corn planting in parts is now
finished.
!' Bessarabia There have been complaints
of unfavorable weather.
Hungary Crops in this grower are most
satisfactory.
;; North Africa Recent rains benefited the
wheat crop but it is feared the prolonged
drouth a while back damaged the barley
crop.
I Australia Latest reports mention In
creasing acreage in parts.
India The outturn of wheat in the Pun
iaub is excellent, much better than expected.
mand from the east is stimulating the
southern market.
Florin strawberries sold lower at. $3.50
3.75. There was a moderate supply on the
irarket, enough at these prices.
Local asparagus was plentiful and
cheaper at ?1.501.75 a dozen.
Bank Clearings. .
Bank clearings of the northwestern
cities yesterday were as follows:
Clearings. Balances.
Portland $5,222,493 $1,176,973
Seattle 5,411,998 1,065,982
Spokane 1,435,782 450,808
Tacoma, transac 2,714,000
Advances in Millrun.
There was another advance of $1 a ton
In millrun to $35 for minimum quantities,
which is all that mills can sell at this
time. Middlings were also advanced $1 to
$49 a ton.
PORTLAND MARKET QUOTATIONS
Grain, Flour, Feed, Etc
Merchants' Exchange, noon session: s
Bid
Wheat May. July.
Hard white $1-30 $1.30
Soft- White 1.28 . 1.28
White club 1.28 1.28
Hard winter 1.30 .1.30
Nor. spring 1.30 1.30
Red Walia 1.26 '1.26
Oats
No. 2 white feed 37.00 3T.O0
No. 2gray ....36.50 '36.50
Barley
Brewing 31.00 31.00
Standard feed 30.00 30-00
Corn
No. 2 E. Y. shipment 29.25 29.25
FLOUR Family patents, $8.60 per bbl.;
whole wheat, $7.80; graham, $7.40; bakers'
hard wheat, $8.10; bakers' bluestem pat
ents, $8; valley soft wheat, $6.50; straights,
$6.35.
MILLFEED Price f. o. b. mill: Mill
run, ton lots, $35; middlings, $49; rolled
barley, $37(&39; rolled oats, $42; scratch
feed, $4751 per ton-
CORN White. $36; cracked, $38.
HAT Buying price, f. o. b. Portland:
Alfalfa, $1920 per ton; cheat, $17; oats
and vetch, $18; clover, $17; valley timothy,
$20; eastern Oregon timothy, $21 22.
FLUSH EGG PRODUCTION IS OVER
Lower Tendency of Eastern Markets Is
; Expected.
Every day is "swat the rooster" day on
the farm now, causing a free marketing
of old roosters. This will probably con
tinue for a period of from two to four
weeks, says the produce review of Swift &
Co. or Chicago. The marketing of old
hens also is increasing, due to the fiict
that in most sections the flush egg pro
duction is over. There is a good demand
tor all dressed poultry, which should keep
the market on a firm basis for some time.
Production of butterfat Is now lncreaing
rapidly and as a result there has been a
ifreer movement of creamery butter to the
large markets, causing prices to react to a
lower basis. The production should show
a further increase weekly for some time,
and this should have a tendency to cause
somewhat lower price levels.
The warm weather in egg producing
sections in the past few days has caused
a better demand for more eggs from north
erly sections and less inquiry for the eggs
from the southern states. It is estimated
the reserve stocks in storage at present
time are somewhat heavier than a year ago,
and with the genera! quality now shew
ing the effects of warmer weather, the
tendency of the market may be lower. It
is important that producers gather eggs
daily, keep them in a cool place and mar
ket them frequently.
Gutter market will advance
Prints Will Be Quoted One Cent Higher
Market Is Strong.
The butter market Is strengthening at c
time of year when a decline might nor
mally be expected. The make is steadily
increasing but offerings are not equal to
the demand. In addition to the inquiry
jrom outside points, there is local storing.
rrmts win be advanced 1 cent a pound
this morning to the 38-cent basis and
there will be a greater rise in butter fat.
Cubes were strong yesterday at 3334c,
ana cleaned up easily.
1 The feeling in the egg market was In
ellned to be easier and buying prices were
reduced 1 cent by some of the larger op
erators.
Poultry was weak with a good supply on
hand. Light hens were lower at 20 cents.
Broilers had a wide range, ordinary of-
tenngs selling at 2025 cents and large,
colored broilers at 30 cents.
The hot weather had a very depressing
errect on the dressed-meat market as buy
Ing by retailers was sharply reduced. The
tp price -on v.eal was 13 oents and only
a. lew sales could be made at this price.
, Sugar Ten Cents Higher.
,An advance of 10 cents a hundred in
ail grades of refined sugar will take ef
fect this morning. Cane granulated will
be quoted at $6.40 and beet sugar at $6.20
a sack.
NEW YORK, May 16. Raw sugar, cen
trifugal, Porto Ricos, $3.92; Cubas, $4.04
refined, fine granulated, $5.30 & 5.50.
SAN FRANCISCO. May 16. California-
Hawaiian raw sugar $4.04.
Butter and Country Produce.
BUTTER Cubes .extra, 34c per pound,
parchment wrapped, box lots. 3Sc; cartons,
3!tc. Buterfat, buying price: No. 1 grade,
3S(&30c delivered Portland.
EGGS Buying price, 19 20c doz., case
count; henneries, 22(&23c dozen; jobbing
prices, case count, 21c; candled ranch, 23c;
selects, 25c.
CHEESE Tillamook triplets, price to
jobbers, f. o. b. Tillamook, 23c ; Young
Americas, 24c pound.
POULTRY Hens 2024c; broilers, 20
30c; ducks, nominal; geese, nominal; tur
keys, live, nominal; dressed, 40c.
VEAL Fancy, 12 13c per pound.
PORK. -Fancy. 15 Sic per pound.
Fruits and Vegetables.
Local jobbing quotations:
FRUITS Navel oranges, $6 8.50 box;
lemons, $6.50 8; grapefruit, $49 box;
bananas, 9 10c pound ; apples, $2 4 per
box; strawberries, $3.503.75 per crate.
POTATOES Oregon, $1.25 1.50 per 100
pounds; new California, 8 9c pound;
sweet potatoes, eastern, $22.50 crate.
ONIONS Yellow Bermuda. $2.25&3 per
crate; crystal wax, $3.50 per crate.
VEGETABLES Cabbage, $3.50 per
pound; lettuce, $2.50 3. 50 crate; garlic,
lUloc per pound; green peppers, 40 50c
per pound; 'celery, $7.50 crate; cauliflower,
$1.75 2. 50 crate; parsnips, $3 3.50 per
sack; tomatoes, $45 per lug; artichokes,
,$1.25 dozen; cucumbers, $1.50 2. 50 box;
rhubarb, 4c per pound ; spinach, 8 9c
pound; asparagus, $1.50 1.75 per dozen;
green peas, 910c per pound.
Staple Groceries.
Local Jobbing quotations:
SUGAR (aack basis) Cane, granulated,
6.40c pound; beet, 6.20c per pound.
NUTS Walnuts, 15 (ft 35c per pound; Bra
zil, nuts, 17 hz 19c; almonds. 21 26c;
peanuts, 10 11c per pound.
RICE Blue Rose, 6456.75c per pound;
Japan style, 6 10 6.25c per pound.
COFFEE Roasted, bulk, in drums, 20
I6c per pound.
SALT Granulated, bales, $3.254.05;
half ground, ton, 5Ge, $17; 100s. $16.
HONEY Comb, new crop, $4.25 5 per
case.
DRIED FRUITS Date 14c per pound;
!igs, $1.902.75 per boxr apples. 15c per
pound; peaches, 16c; apricots, 23c; prunes,
014c.
BEANS Small, white, 67c; large,
white, 5 Vic; pink, 5rjic; bayo, 6c; red,
6c; lima, 11c per pound.
Provisions.
Local jobbing quotations:
' HAMS All sizes, 3336c; skinned, SI
38c; picnic, 16s; cottage roll, 24c
BACON Fancy, 3844c; choice, 29
33c; standards, 23(25c.
LARD Pure, tierces, 15c pound; com
pressed tierces, 15c.
DRY SALT Backs, 18 21c; plates, 15c.
Hides, Hops, Etc.
HIDES Salt hides, 5c; salt bulls, 4c;
green bulls, lc less; grubby hides and
buile, lc less; salt calf, 10c; salt kip 7c;
salt horse hides, $12 each; dry horse
hides, 50c $1 each; dry hides, 10c; dry
cull bides, half price.
PELTS Dry pelts, 17c; dry short
wool pelts, half price; salt pelts, full wool,
April take-off, $1.251.75 each; dry. goat
skins, 12c (long hair).
TALLOW No. 1, 4c; No. 2, 3C per
pound; tank tallow, 2c per pound.
CASCARA BARK New peel, 6c pound;
old peel, 6c pound.
OREGON UKAriL Grape root, oc per
pound.
o5 lazs crop, loitfzuc pound; con
tracts, 15c.
WOOL Eastern Oregon, 26 29c per
pound; valley wool, fine, 28 30c; me
dium. 2528c; quarter biood. 2225c; low
quarter blood, 20 22c; braid, 18 20c;
matted, 1516c.
MOHAIR Long staple, 32c. delivered
Portland; carding 28c; burry, 20c pound.
GRAIN BAGS Car lots, 8&8c ccast
Oils.
LINSEED OIL Raw, In barrels, $1.10;
5-gallon cans, $1.25; boiled, in barrels,
$1.12; 5-gallon cans, $1.27.
TURPlfiNTlMi in arums, $L15; 5-gal
lon cans, $1.30.
WHITE LEAD 100-pound kegs, 12c
per pound.
GASOLINE Tank wagons and Iron bar
rels, 26c; cases, 38 He
Lumber,
The following are direct quotations on
Douglas fir and represent approximately
prevailing f. o. b. mill prices In carlots
and are based on orders that have been
negotiated.
WHEAT BUYING ENLARGED
TRADERS CONSTRUE COURT
DECISION BULLISH.
Liverpool Advance and Liberal
Purchasing for Export Give
Market Added Strength.
CHICAGO. May Buying In the
wheat market today assumed the largest
proportions witnessed in several months
and there was p Qecided advance in price.
Traders .generally construed the United
States- supreme court decision on the Cap-per-Tincher
act as a bullish Influence.
The market closed unsettled 2c to 3o
net higher with May $1.45 and July
$1.2SH4 to $1.28c Corn gained c to c
and oats VzC to c. In provisions, the
outcome varied from 2H5c decline to a
rise of 25c.
Stimulating market effects of the su
preme court decision were emphasized byl
a sudden upturn in Liverpool wneat limi
tations, a reduction of 7,798,000 bushels
in the world's available supply and by re
ports that foreigners were purchasing fu
ture deliveries of wheat here. It was said
also that export business on a large scale
was under way at the seaboard and before
the- day was over there were estimates
current that Europe had taken 2.000,000
bushels. Besides, advices were that the
Kansas crop was. deteriorating, especially
late sown wheat.
New crop deliveries of wheat showed
relatively greater strength than was the
case with May, September establishing a
higher Tjrice record than at any time here
tofore this season. Bull leaders com
bated assertions that manipulative tactics
were responsible for present prices ana
that Chicago May wheat was out of lirua
with other markets. Receipts of wheat
here continued liberal, 255 carloads ttfday
and there were fresh deliveries of 263,000
bushels on May contracts. Purchases of
600,000 bushels of wheat to arrive here
wf-re rpnorted.
Upturns in the value of corn and oats
were ascribed to the action of the wheat
market.
Provisions averaged higher In linfl with
begs.
The Chicago grain letter received yester
day by the Overbeck & Cooke company of
Portland follows: ,
"Wheat Started higher and advanced
steadily throughout the session. There
was a conspicuous absence of selling pres
sure and evidence of buying by some of
the leading shorts, who apparently ara
beginning to realize that their position
is not the correct one. A contributing
factor was the strength shown in all cash
markets, accompanied by a better milling
demand and smaller receipts. The sea
board reported activity in export circles
and it was said that sales for the day
might reach 2,000,000 bushels, but evenly
divided between old and new. crop. Some
of the buying of July wheat here was
thought to be against sales for July, Au
gust and September shipments. Broom
hall, in reviewing the world's wheat posi
tion, says the present price of American
winter wheat is reasonable and lower
values are unlikely unless the 1922 spring
wheat crop turns out to be a bumper crop.
Purchases by Europe lately have not been
commensurate with her requirements, nor
have the American millers been keeping a
proper reserve on hand to fill their sales.
There is apt to be keen competition for
cash wheat for many weeks, which would
result in an acute situation. New crop is
far from made and if there be no further
deterioration, the uncertainty is sufficient
to make the. position of the short a pre
carious one.
"Corn Displayed strength during the
forenoon, but lagged late in the day, due
to selling by cash interests, accompanied
by reports of increased offerings from the
country. Receipts were comparatively
small and the cash market again had a
strong tone at firm premiums. Shipping
sales of 145,000 bushels were made, in
cluding 95,000 to exporters. The seaboard
reported a fairly good export demand. It
is not unnatural that the advances should
attract a certain amount of selling by the
country at this time of the year, but from
all that we can gather the movement will
not be burdensome. Based on feeding
value, corn at present prices is like buy
ing, sold dollars for 65 cents.
"Oats There was a much improved
class of buying in this market today with
less pressure to sell. The cash market
was firm and higher and there was tala
of a better shipping demand. Crop re
ports are not altogether favorable.
"Rye Trade moderate with a firm tone
displayed on buying by seaboard interests.
Cash rye was firm at May price for con
tract grades.
Leading futures ranged as follows:
WHEAT.
Open. High. Low.. Close.
May... $ 1.44 $ 1.46 1.44 $ 1.45V
July... 1.264 1.29 1.26& 1-26
Sept... 1.20 I.2214 L20 1.21
CORN.
bulk round whites, $1.301.45 cwt.; Michi
gan bulk round whites, $1.30 1.50 cwt.;
Idaho sacked russets, $1.75 cwt.; new stock
slightly stronger on sacks; dull on barrels;
Alabama sacked Bliss Triumphs No. 1, 93
cwt. ; Louisiana sacked Bliss Triumphs No.
1. $2.75 cwt. ; Florida Spaulding Rose,
dou Die-headed barrels. No. 1, $5.75 6.
WHEAT MARKET FIRM AND HIGHER
Bids Are Advanced 2 Cents on All Grades
at Exchange.
There was a firmer feeling in the wheat
market yesterday and a better demand
than for several days past. Club and
forty fold wer0 worta $1.30. Bids at the
Merchants' Exchange were 2 cents higher
on all grades.
The Chicago wire to the Gray-Rosen-baum
Grain company follows:
"Sentiment chiefly responsible for to
day's buoyancy. Nothing in the news or
situation to warrant advence. Supreme
court decision and strong Liverpool cables
causing enthusiasm. Shorts were best
buyers. Large export business old crop
wheat reported, but cannot confirm same.
Anticipate setback."
May wheat, at Liverpool closed d
higher at lis 9d. London cables re
ported the purchase of 325,000 bushels
of Australian and Argentine wheat 1 on
ocean passage at equal to $1.56 per bushel
Germany.
LeCount reported from Bradley, S. D.;
"Corn planting general in northwestern
Iowa, and all the way up here. Soil in
splendid condition. Spring wheat looks
fine and has made wonderful progress
during the 'week; weather favorable;
plenty of moisture for a long time.
, Goodman's report from Wichita was
bullish.
Terminal receipts, in cars, were reported
by the Merchants' Exchange as follows:
Portland Wheat. Bar. Flour. Oats. Hay.
Tuesday 19
Year ago 53
Season to date. 26921
Year ago. . . .17201
Tacoma
Monday 26
Year ago. ... 27
Season to date. 9722
Year ago. . . . 44S3
Seattle
Monday 27
lear ago. ... 8
Season to date. 7942
Year ago. . . . 4468
Mav. . .
July. . .
Sept...
May. . .
July...
Sept. v.
May. . .
July. ..
Sept. ..
Lemon Advance Is Under Way.
) Lemon prices have started upward. Since
Friday, California quotations have been
advanced $1.50 a box and this will soon
be reflected in local prices. Strong de
Protect Your Shipments
of Dressed Meats
Ponsign to us.
Cold storage on premises.
THE SAVIXAR CO., INC.,
100 Front St. Portland, Or.
July. . .
Sept. . .
Cash
-a
High.
Hv.uo
40.00
S3. 00
36.00
Fleorini
1x4 No. 2 VO
1x4 No. 3 VG
1x4 No. 2 & B, SO
1x6 No. 2 & B, SCJ
Stepping
No. 2 & 3
Finish No. 2 and better
1x8 10-inch 58.00
Ceiling
x4 No. 2 & B 34.00
1x4 No. 2 & B 38.T5
1x4 No. 3 30.00
Drop siding .
3x6 Xo. 2 & B
1x6 No, 3
Boards and SL No.
Ix8-10-inch
lxl2-inch 15.00
Dimension No. 1
2x4 12-14 S & E 13.50
Planks and small . timbers
4x4 12-16S4S 17.50
3x10-12 12-16 S 4 S ... 1S.0O
Timbers 32 feet and unde:
6x6-8x10 S 4 S i 21.00
Lath
Fir , 5.50
T.OW.
J47.00
34.00
29.00
32.00
Pre
vailing
rrice
47.00
'ai!66
36.00
65.00 62.00
28.00
31.00
28.00
30.00
31.00
37.00
30.50
.. 13.50
33.00
28.50
11.50
14.00
13.50
12.50 12.50
16.00 16.50
4.50
QUOTATIONS ON DAI BY PRODUCE
Current Prices Ruling- on Batter, Cheese
and Eggs.
SAN FRANCISCO, May 16. (U. S. Bu
reau of Markets.) Butter, extra, 8⁣
prime first. 38c.
Eggs Extras, 26c; extra first, 25Hc;
extra pullets. 23c; extra pullets, firsts.
-iVzc; unaersizeo. puiiets, ro. A, .lac.
Cheese California flat .fancy, 20c
Young America fancy, 24 c.
NEW YORK, May 16.
creamery firsts, 3430c.
Eggs Steady.
Cheese Firm.
-Butter Firm
CHICAGO, May 16. Butter Higher
creamery extras, S4c; firsts, 30&33c
seconds. 28(&29Uc: standards. 33?ic.
Eggs Unchanged; receipts, 37,487 cases.
SEATTLE,
unchanged.
May 16. Eggs and butter
Metal Market.
NEW YORK. May 16. Copper Steady
electrolytic, spot and futures, 13"413o,
Tin fcaMer; spot and nearby, 30.62c; fu
tures, OO. IOC.
Iron Steady; prices unchanged.
Lead Steady; spot, 5.355.60c.
Zinc Firm; East St. Louis delivery,
Antimony Spot, 5.50c.
NEW YORK, May 16. The American
Smelting & Refining company today ad
vanced the price of lead from 8.25c to
ti.doc a pouua.
.61 i
.64
8TS4
.39
.39
.41
.65
.67'
OATS.
.38
.40
.42
.8154
.64
.67 li
.38
.39
.41
MESS PORK.
LARD.
11.67
11.92 11.92
SHORT RIBS.
11.60
11.82
.6114
.65
.67
.36
.40
.41
11.60
1LS2
12.02
12.00
1 3 ....
7 1 2
220 2082 843 1995
248 1002 538 2353
...11 1
11 ... 1
97 1245 IfiB 80S
51 974 .173 935
4 ... 13
...7 1 5
178 2003 408 1728
212 496 445 1408
FOREIGN JMDEHELD NEED
STABILIZING OF MARKETS BIG
FACTOR IX AMERICA.
TOP GRADE LISTED AT $11.25
TO $11.50 AT STOCKYARDS.
Other Lines Are Steady and Un
changed Five Loads of
Sheep Go Through.
Traders at the stockyards yesterday had
to depend largely on drive-ins and arrivals
by boat. Five loads of sheep were re
ceived by rail, but they went throueh.
The weakness noted in the hog market
at the opening of the week resulted in
quarter decline to a range of ll.oll-du
for prime lights. Other lines were steady
and unchanged.
ReceiDts werfl AST nhea
The day's sales were as follows
1 cow. . . .
1 cow ....
1 cow. . . .
2 cows. . .
1 cow. . ...
2 cows.
1 cow i
2 cows. . .
1 heifer. .
9 calves. .
1 calf
1 calf
1 stag. . . .
1 hog. . . .
7 hogs. ..
9 hogs. . .
1 hog. . . .
14 hogs. . .
1 hog. . ..
17 hogs...
1 hog. . . .
22 lambs. .
12 lambs. .
4 lambs. .
6 lambs. .
4 lambs. .
20 lambs..
4 lambs. .
22 lambs..
14 lambs. .
17 lambs. .
27 lambs. .
10 lambs. .
21 ewes. . .
10 ewes. . .
4 ewes. . .
Wgt. Pr.
910 $5.60
1060 4.001
1070
885
TM
935
830
805
690
4.751
4.501
4.00
4.50
3.50
3.00
7.25
150 10.00
170 10.00
130 10.00
980 7.501
410 9.75
171 11.25
156 11.50
220 9.00
1(1 11.50
370 7.00i
170 11.40
420 8.00:
62 12.50
61 13.00
65 13 00
50 7.00
47 7.00
66 13.00
62 12.50
69 13.00
51 7.00
Wgt. Pr.
8yearl'gs. 70 $10.00
2 yearrgs. 105 9.00
5 cows 1208 6.75
1 cow 960 4.00
1 cow 840 5.75
2 cows 705 2.50
1 cow 890 5.50
2 calves.. . 115 10.00
2 calves... 360 5.25
1 calf 210 10.00
2 calves.. 110 9.75
1 calf 140 10.00
1 bull 1750 4.50
2 hogs 280 11.25
16 hogs 61 11.25
12 hogs 153 11.50
1 Bog 030 8.U0
2 hogs. . . .
V hogs. . . .
25 hogs.. ...
5 hogs. . . .
3 hogs. . . .
1 hog
1 hog
1 lamb. . .
4 lambs. .
25 lambs. .
14 lambs. .
13 lambs. .
7 lambs. .
63 13.001 1 lamb. .
20 9.00
171 11.60
206 11.35
136 11.40
213 11.35
600 8.00
590 5.25
50 12.00
84 14.00
72 14.00
72 13.50
60 13.50
i 62 12.50
60 10.00
155 4.00
157 6.00
156 4.00
110 11.00
140 10.00
175 3.50
Union
12.00
prices were:
Wheat No. 2 hard, 1.44; No. 2 mixed.
$1.42. ,
Corn No. 2 mixed, 8263c; No. 2
yellow, 63 "4 63 51 c.
Oats No. 2 white, 4043c; No. 3
white, 3941c.
Rye No. 2, 1.09X1-11.
Barley 67 71. 1
Timothy seed $4. 50 6. ,
Clover seed $1222. -Pork
Nominal.
Lard $11.40.
Ribs $12.5013.60.
Cash Grain Markets.
Furnished by Herrln & Rhodes. Inc.,
Portland.
MINNEAPOLIS, May 16. wneat: No. 1
dark northern, $1.62 1.71 ; No. 2 dark
northern, $1.601.67; No. 3 dark north
ern, $1.53 l.4; No. 1 northern,
$ 1.61 1.67; No. 2 northern, $1.584
1.64; No. 3 northern, ii.ai vi.s ;
durum, $1.304 1.35.
corn: No. 2 yellow, &iq$&7c
Oats No. 2 white, 3738Hc; No. 3
white. 36 37c.
Barley, 53 64c.
Flax. $2.85 6 2.88.
KANSAS CITY. May 18. Wheat: ' No
2 red 11.35: No. 3 red. $1.32; No. 1 hard.
$1.361.45; No. 2 hard, $1.351.68; No. 3
hard. $1.32 1.59.
Corn: No. 2 mixed, 6758c; No. 2 yel
low, 58Vi59c.
Oats: No. 3 white, 40c; No. i white, 39
39c.
OMAHA, May 16. Wheat: No. 1 hard,
$1.37 1.38; No. 2 hard, $1.35181.42; No.
3 hard, $1.36.
Corn: No. 2 white. 5556; No. 2 yel
low, 56 c.
Oats: No. 2 white, 88 o; No. 3 white,
37S37c.
DULUTH. May 16. Wheat: No. 2 dark
northern. $1.55 81.68.
Flax, $2.82.
Chamber of Commerce ot United
States Considers Important
Problems in Business. '
WASHINGTON. D. C. May 16. Neces
slty of stabilizing foreign markets as the
Initial step toward adjusting American do
mestic commerce was agreed upon with
practical unanimity by speakers who ad
dressed the opening session today of the
tenth annual meeting of the chamber of
commerce of the United States. The mar
kets of Europe, as the principal repos
itory of America's surplus goods, were given
first place In every discussion of the prob
lem of revivifying the trade of the United
States.
. The convention was opened by Joseph
H. Defrees, president of the chamber, who
reviewed the growth of the organization
and dwelt' at length on European business
conditions. Arthur Balfour, vice-presi
dent of the association of British chambers
of commerce of Sheffield, England, also
detailed economic and business conditions
abroad..
Various group meetings were held
throughout the day, at which were dis
cussed subjects relating to .housing condi
tions, immigration and citizenship, do
mestic distribution, stabilizing production
and other similar topics relating to Amer
ican business development. Reports will
be made later to the full meeting.
Secretary Hoover, outlining in a speech
before the delegates tonight his view of
what steps were necessary to continue tho
movement toward normal, placed the po
litical relationship between European
states at the top of the list, declaring
these must be so rearranged as to produce
an atmosphere of peace. Reduction of
armament as a further evidence of peace
ful intention, a well as for resulting econ
omies, was important, Mr. Hoover said,
and Included in his list of necessary ad
justments. The intergovernmental debts including
German reparations to be fixed upon such
a definite basis of payment of Interest and
principal as will create reasonable confi
dence that payment will be met.
The balance of budgets more through
the reduction of expenditures than the in
crease of taxation and a cessation of the
consequent inflation in currency and short
time bills.
The ultimate establishment of the gold
standard with the assistance of either cred
its or gold loans, and, when necessary,
the acceptance of diminished gold content
to many old units of currency.
If these measures could be accomplished
tomorrow. Secretary Hoover said, "the
stream of commerce, and industry would
rush" economic recovery at a pace which
would amaze the world," but until their
accomplishment is assured "our citizens
must guide their business with caution in
relations to the nations who are as yet
unable to make these steps.
Oregon Banking and Bond
News.
Primary Receipts,
CHICAGO, May 16. Primary receipts
were as follows: Wheat, 1,014,000 versus
614,000 bushels; corn, 828,000 versus 345,.
000: oats. 780,000 versus 372.000.
Shipments Wheat, 693,000 versus 603,
000; corn. 1,274,00 versus 591,000; oats,
1.048.000 versus 599,000.
Clearances Wheat, 250,000; flour, 47,000
barrels; corn, 69.000 bushels; oats, 195,000;
rye, 69,000; barley, 60,000.
Minneapolis Wheat Futures.
MINNEAPOLIS, May 16. Wheat, May,
$1.58; July, $1.47 ; September, $1.29.
Winnipeg Wheat Futures.
WINNIPEG, Man., May 16. Wheat.
May. $1.43; July, $1.41 ; October, $1.265i.
Grain at San Francisco.
SAN FRANCISCO. May 18. Wheat
Milling, $2.352.45; feed, $2.252.35.
Barley Feed, $1.37 1.42 ; shipping,
$1.451.55.
Oats Red feed, $1.651.75.
Corn White Egyptian, $22.10; red
milo. $1.771.82.
Hay Wheat. $1618; fair, $14ttl;
tame oat, $15318; wild oat, $1113; al
falfa, $1518; new alfalfa first cutting,
$13 15; stock, $10g12.
Seattle Grain Market.
SEATTLE, Wash., May 16. Wheat:
Hard white, soft white, white club, soft
red winter, northern spring, $1.29; hard
red winter, $1.30; eastern red Walla, $1.26;
Big Bend blue stem, $1.50.
Hay and feed, unchanged.
Chicago Potato Market. ,
CHICAGO, May 16. Potatoes weak; re
ceipts 40 cars; total United States ship
ment S&2 cars Wisconsin sacked ncl
M. F. Corrlgan, cashier of the First
National bank of McMinnville, was in the
city yesterday talking with Portland
bankers. He reported tnat lamhill county
is looking better than ever before.
J. W. Mayo, cashier -of the First Na
tional bank of Stayton, or., was a visitor
in the financial district.
O. F. Johnson, president of the First
National bank of Camas, Wash., was
among the outside bankers visiting the
cityi
A. L. Moreland, cashier of the State
bank of Battleground, Wash., in calling on
his banker acquaintances here, said fine
prospects for a great prune crop prevail
in his section. There was no damage by
the late frosts, he said.
; W. W: Calkins, president of the United
States National bank or Eugene, reported
to his correspondents here that crop pros
pects never were better anywhere, any
time, than in Lane county. Mr. Calkins
has been the leader in the formation and
operation of the Eugene Co-operative Fruit
Growers' association and he said the con
cern is ready to handle a big- business
again this season.
W. C. Stewart, stockholder of the Grant
County bank at John Day, also an officer
of the Stewart Land & Livestock com
pany, was a visitor at local banks. While
here he contracted his wool clip at 37
cents a pound. He has a crop of about
50,000 pounds.
Harold Baldwin, cashier of the First
National bank, Prineville, Or., brought a
load of steers to the Portland market.
The Mice he icot was the best in several
months, beins 9 cents a pound, or about
$60 a head, for long yeaning steers.
Charles Ray, president of the Nestucca
Valley bank at Clovedale, Or., was a Port
land visitor.
A. M. Wright, vice-president of the
United States National bank, returned from
the recent Shnne trip to Baker. He saia
there are better prices for wool and live
stock in that district and plenty of
water In the mountains for irrigation and
mining, while the lumber business is on
i. better basis.
L. G. Merrill, cashier of the Mosier Val
ley bank at Mosier, Or., was a local visi
tor. L. N. Knettle, vice-president of the
Knettle State bank, at Pomeroy, Wash.,
reported to local bankers that crops in his
district are fine, with no damage from re
cent frosts. Mr. Knettle Is accompanied
by Mrs. Knettle.
Robert E. Smith, president of the Lum
bermens Trust Company bank, was in
Vancouver, B. C, on business for his in
stitution. '
s 14. ou 8 ewes. . .
60 7.00 4 ewes....
132 4.00 5 ewes...
128 4.00 4 yearl'gs.
120 5.60 lyearl'g..
2 bucks. . .
Prices quoted at the Portland
siocayaras were as follows:
Cattle Price.
Choice steers $ 8.75 9 00
Good to medium steers 8.00 8.50
Fair to medium steers 7.00 8.00
Common to fair steers 6.50 7.00
Choice feeders 6.25 6.25
Fair to good feeders 4.75 5.25
Choice' cows and heifers 6.75 7.25
Medium to good cows, heifers. 5.75 6.75
Fair to medium cows, heifers. 6.00 5.75
Common cows 4.00 5.00
Canners 2.25 4.00
Bulls 3.75 25
Choice dairy calves 9.0010.00
Prime light calves 8.00 9.00
Medium light calves 7.00 8.00
Heavy calves 4.50 7.00
Hogs
Prime light H.2511.50
Smooth heavy, 200 to 300 lbs.. 10.5011.00
bmooth heavy, 300 lbs. up. ... .10.00 10.50
Rough heavy 7.50 9.50
Fat pigs '. 11.2511.50
reeaer pigs 11.25(811.50
Stags, subject to dockage .... 5.00 7.50
Sheep
Best spring lambs 13.00 14.00
Medium spring lambs 10.0013.00
Common spring lambs 6. 00 10 00
Cull lambs 5.00 7.00
Light yearlings 10.00 11.00
Heavy yearlings 9.00 10.00
Light Werners 9.50 10.00
Heavy wethers 9.00 9.50
Ewes 3.00 6.00
Chicago Livestock Market.
CHICAGO, May 16. t. S. Bureau of
Markets Cattle Receipts, 10,000 head;
fairly active; beef steers and she-stock
fully steady; no choice steers sold early;
beef steers of quality to sell largely at
$7.658.50; bulls steady to strong, veal
calves strong to higher: stockers. dutl:
outsiders paying $1010.50 freely for
choice vealers; early sales to packers
around $9.50 10.
Hogs Receipts. 21.000 head: slow: biz
packers doing little: earlv trading Armmri
510c higher to yard traders and shippers
part of early advance lost, top early $11:
bulk, $10. 45g 10.90.
Sheep Receipts. 13.000 h
25c lower; California spring lambs, $14.25
15; seconds to feeders, $12.50; top shorn
lambs, $13'; choice 110-pound California
shorn ewes, $7.50; good fed Texas .shorn
wethers, $8.25.
Kansas City Livestock Market.
KANSAS CITY. May 16. Cattle Re
ceipts, B500 head; beef steers and year
lings, steady to 25 cents lower; mostly
weak to 15c lower; top light steers, $8.60;
common and medium stock weak to 15c
lower; stockers and feeders, steady to un
evenly lower; feeders. $7.507.90; stock
ers, $55.50; all other classes around
steady; choice cows, $6.506.75; heavy
bulls, $5.60; yearling heifers, $8.50; can
ners and cutters, generally $3.254.75;
best, $99.50.
Hogs Receipts. 15.000 head: shinnera
look for about 3500 light and medium
hogs at $10.5O10.75; market looks 1015c
lower; packers buying on a late market
around 10c lower; late top packers, $10.35
10.45; top. $10.65; bulk sales, $10.10
10.60; packing shows mostly $9.259.40;
stock pigs, steady; bulk best natives,
$10.50 10.65; best. $10.75; mixed south
west. $8.50..
Sheep - Receipts, 7000 head; 1525c
lower; shorn wethers, $88.25; most fat
native ewes, $6.256.50; lambs. 2540c
lower; early sales shorn offerings; $11.60
12.35; best unsold; early spring lambs,
steady; Arizonas, $14.50; Texas goats.
$3.90. '
Omaha Livestock Market.
OMAHA, May 16 U. S. Bureau of Mar
kets Hogs Receipts, 8500 head; market
slow, mostly 10 15c lower; bulk 180 to
240-pound butchers $10.2010.3O; early
top $10.40; bulk 250 to 325-pound butchers
$1010.20; packing grades $99.75.
Cattle Receipts 7500 head; beef steers
slow, mostly 10 15c lower; she stock gen
erally steady; bulls, slw to 25c lower;
veal calves strong to 25c higher; stockers
and feeders, 10 25c lower.
Sheep Receipts 5000 head; spring lambs
steady; top Californias, $14.75; native
spring lambs, $14.50; other killing classes
weak to 25c lower; wooled lambs, $14.35;
clipped ewes, $6.75; feeders, steady.
San Francisco Livestock Market.
SAN FRANCISCO, May 16. Steers, No.
1, $77.75; No. 2. $5.256.25; cows and
heifers. No. 1, $56; No. 2, $46; bulls
and stags, $34; light calves, $89;
heavy, $5 7.
Sheeji Wethers, $6.507.50; ewes, $4.50
5.50; lambs, $10.5011.50. 4
Hogs 125 to 200 pounds, $11.50; 200 to
250 pounds, $10.50; 250 to 300 pounds,
$9.50.
Seattle Livestock Market.
SEATTLE, May 16. Cattle and hogs
steady; no receipts; prices' unchanged.
SAJf FRANCISCO PRODUCE MARKET
IN I1"
Revising Your Holdings
No bond, not even the bonds of the soundest government
on earth, should be locked away and forgotten ! Not that their
safety may become imperiled; but conditions beyond antici
pation may make the bonds you hold less suited to your needs
than others which can be obtained by exchange. '
The successful investor doesn't permit his investments to
i'sleep." He constantly revises his holdings. He takes a
profit here; he increases his income there. He lengthens or
shortens his maturities as conditions dictate. He exchanges
unsuitable bonds for suitable bonds. ' With every move he
strengthens his investment position. C
Yet, his investments may require but little personal
attention. It is the business of the bond house to take the
initiative in recommending transactions to strengthen x the
investment position of its clients.
The specialized services of a good bond house, based upon
thorough knowledge and experienced judgment, may mean
dollars in your pocket in guiding your decisions into proper
directions.
cor. Fourth and Stark Streets
SEATTLE
SAN rRANCISCQ
NEW YORK
CHICAGO
10SANGEUS
SAN DIEGO
S. W. Penn Oil , 63
Standard Oil Indiana 104S,
do Kansas 560
do Kentucky 81
do Nebraska 180.
do New York 405
do Ohio 460
do'Ohio pfd 116
Swan & Finch 30
Vacuum 418
Washington 613 hi
65
105
570
8214
200
410
470
118
33
423
115
DAILY CITY STATISTICS
Births.
PERATNO To Mr. and Mrs. Frank
Peraino, 747 East Eleventh, May 5. a son.
KOMATSUBARA To Mr. and Mrs. Ku
mao Komatsubara, 50 H North Third. May
4, a son.
COOPER To Mr. and Mrs. Dufur F.
Cooper, Milwaukie, Or., May 3, a son.
SMITH To Mr. and Mrs. William E.
Smith. Ill West Ninth, Vancouver, Wash.,
May 3. a daughter.
KRIEGER To Mr. and Mrs. William
Krieger, 895 East Eighth, May 11, a son
FITZGERALD To Mr. and Mrs. T.
Fitzgerald, 833 Mississippi avenue. May
8, a son.
BEEDLE To Mr. and Mrs. Jesse R.
Beedle, 9S5 Haight street, May 7, a daugh
ter. ROSKET To Mr. and airs. Charles A.
Roskey. 774 Thurman. May 6. a son.
MINOR To Mr. and Mrs. D. B. Minor,
1208 Mixter, May 10, a daughter.
WILBUR To Mr. and Mrs. Oriel Wil
bur, 1249 East Thirty-first North. May 10,
a daughter.
ASHDOWN To Mr. tnd Mrs. R. Arthur
Ashdown, 1410 Fenwick, May 10, a daugh
ter. LOVELL To Mr. and Mrs. James Lov
ell, 12 Kilpatrick. May 9, a daughter.
BUSH To Mr. and Mrs. W. F. Bush,
5522 Eighty-fourth, May 8, a daughter.
DRESSLER To Mr. and Mrs. Jack
Dressier. 67 Lambert avenue. May 7, a
son. "
BEAUCHAMP To Mr. and Mrs. A. F.
Beauehamp, 128 Belmont, May 5, a son.
RE1FSCHNEIDER To Mr. and Mrs.
Walter H. Reifschneider, 603 Powe.l.
March 29. a son.
RAYMOND To Mr. and Mrs. William
L. Raymond, 8307 Fifty-eighth avenue.
May 5, a son.
DTJVALI, To Mr. and Mrs. -Elmer N.
Duvall, 157 Julia avenue. May 12. a son.
PALER MINI To Mr. and Mrs. G. Pa
iermlni, 291 Sheridan, April 10, a son.
MASTRANTONIO To Mr. and Mrs. D.
Mastranlonio, 1298 East Thirty-fourth
North, May 5. a daughter.
BUTLER To Mr. and Mrs. Howard E.
Butler, Barker apartments. May 5, a
daughter.
Marriage Licenses.
KAEGI-PEASE Morrise C. Kaegl. 24.
1405 Sandy boulevard, and Josephine B.
Pease, 24, 4206 Fifty-sixth avenue South
east. LAING-STILES C. J. Laing. 21. Port
land, and Edith Stiles, 20, 6019 Fifty-third
avenue.
McCORKLE -HOWARD M. G. McCorkle.
50, felling building, and Mrs. M. Howard.
34, Royal Arms apartments.
LAMBERT-MOXAHAX Alexander Lam
bert, 28. Troutdale, Or., and Opal Mona
han, 18. Troutdale, Or.
LEKAS-RYAN Basil I. Lekas. 29. 109S
Alameda, and Marjorle Ryan. 24, 914 East
Fourteenth street Nortli.
Phone your want ads to The Ore
gonian. Main 7070, Automatic BPO-95.
fur-
Portland,
Cotton Seed OU Futures.
Cotton seed oil futures at New York
tished by Herrln & Rhodes, xnc
Oregon. ?
May, $1.55(81161; June, $11.5011.81;
July, J11.8711.S9; August. 11.8711.89;
September, Jll.87ll.89; October, $11.21
11.23; November, $10.1810.23; December,
$10.04 10.06.
Spot, $11.60 bid.
Prices Current on Vegetables, Fresn Fruits,
Etc., at Bay City.
SAN FRANCISCO. May 16. (State Di
vision of Markets.) Poultry Broilers. 32
52c; young roosters. 2547c; old, 14
19c; hens, 2132c; ducks, 2325c; live
turkeys, 3235c; dressed, 38 44c.
Fruit Apples, to 4-tier, $2.153.75;
navel oranges, $8.508; Valencias, $6.50
7.50; lemons, $4.50(6.25; loquats, pound,
1015c; grapefruit, $3.504.50; strawber
ries, crate. $1.652.00; cherries, box $2.25
2.50.
Vegetables Artichokes, large crate,
$4.006.00; asparagus, pound 310c;
beans, pound, 171. 40c; carrots, sack.
$1.253.00; celery, crate. $2.O04.O0; spin
ach, pound, 24c; turnips, sack, $2.00$?
2.50; cucumbers, dozen, $1.50 2.00; let
tuce, crate, 50c$1.25; white onions. crat.
$1.252.25; yellow, cwt., $1.00; parsnips,
sack, $3.00 3.23; peas, 34.c; pota
toes, $1.602.50; new, 3H5c; rhubarb,
$1.352.00; summer squash, crate, $1.00
1.25.
Receipts Flour, 2043 quarter sacks;
wheat, 9620 centals; corn, 88 centals;
onions, 2215 sacks; hay, 70 tons; hides,
1U60; oranges and lemons, 6200 boxes; live
stock, 700 head
Standard Oil Stocks.
Standard Oil quotations furnished by
Overbeck & Cooke company of Portland:
Bid. ,Ask.
Anglo 20 20
Borne Scrysmer 370 390
Buckeye 7
Cheesebrough 200 205
do pfd 109 112
Continental 143 147
Crescent 35 37
Cumberland 135 145
Eureka 10 103
Galena common 55 58 ,
do old pfd 108 112
do new pfd 102 105
Illinois Pipe 187 190
Imperial Oil 11314 115
Indiana Pipe 96 100
National Transit 291, 30
New York Transit 177 ISO
Northern Pipe 107 109
Ohio Oil 310 315
International Pete 21 21
Pennsylvania Mex 28 . 30
Prairie Oil 600 610
Prairie Pipe 229 232
Solar Refining 355 365
Southern Pite 98 102
Soutli - -.i '
EVAPORATORS
THE UNITED STATES SHIPPING BOARD
Through the United States Shipping Board Emergency Fleet Corporation
INVITES BIDS
at Private Competitive Sale on
158
Evaporators
Capacities 12, 15, 20, 25 and 30 tons of
water per 24 hours steel shells, brass coils
and composition manifolds.
Maximum working pressure .
Shell 25 lbs.
Coils and manifolds 250 lbs.
STORED IN WAREHOUSES AS
FOLLOWS:
HOG ISLAND
44 Evaporators, 15 ton
22 Evaporators, 20. ton
3 Evaporators, 30 ton
Sales Manager, J. T. Eason,
Hog Island, Fa.
ST. JOHNS, PORTLAND
5 Evaporators, 15 ton
Sales Manager, T. G. Baird, St.
Johns, Portland, Oregon.
NEW ORLEANS
16 Evaporators, 15 ton
Sales Manager, H. R. Dilling
ham, P. 0. Box 180, New
Orleans, La.
ERIE
13 Evaporators, 15 ton
Sales Manager, J. T. Eason, At
tention F. A. Fisher, Erie, Pa.
TACOMA
6 Evaporators, 15 ton
Sales Manager, Fred'k Haag, Jr.,
Tacoma, Wash.
BEAUMONT, TEXAS
41 Evaporators, 15 ton
2 Evaporators, 12 ton
Sales Manager, H. R. Dilling
ham, P. O. Box 180, New
Orleans, La.
ALAMEDA
4 Evaporators, 15 ton
2 Evaporators, 25 ton
Sales Manager, D. H. Meisen
. bach, Alameda, Cal.
Bids are invited on any or all of these evaporators "as is, where is," and will be sold without war
ranty as to their condition, quality or capacity. The United States Shipping Board Emergency
Fleet Corporation will load f. o. b. cars at above locations.
INSPECTION INVITED.
No bid will be considered unless accompanied by a certified check for ten, per cent (10) of
the amount bid.
For full information and for complete terms of sale, communicate with Local Sales Manager at
addresses given above, or with the. HOME Office, Washington, D. C.
' The right is reserved to reject any and all bids.
Bids will be received at the office of the
UNITED STATES SHIPPING BOARD EMERGENCY FLEET CORPORATION
WASHINGTON, D. C.
until 12 noon, June 1, 1922. Envelopes should be addressed to
F. H. WALSH, Manager, Material Sales Division,
and marked "Bid on Sale 103."
Orpheura matinee today, 15-25-50-Ad.
Orpheum matines today, 15-25-50-Ad.
i