Morning Oregonian. (Portland, Or.) 1861-1937, June 13, 1922, Image 20

Historic Oregon Newspapers

Morning Oregonian., June 13, 1922, Page 20, Image 20

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Newspaper Page TextBOXED APPLE YIELD WILL BE LIGHTER 8,327,000 Bushels Decrease in Total Crop Estimated. EASTERN OUTPUT GAINS down at 11.2114 for August and $1.23!4 lor eptmber. BroomhatTa cables were! 1 "Argentina "Strength In wheat Satur- day Influenced by America. Country of ferings leas pressing but foreign demand J has been slow. 'Liverpool Moderate trade is passing In Manltobas In the United Kingdom but otherwise business Is rather dull. Offer ings of both Argentina and American wheat continue in liberal supply." A meeting will be held at the state grain inspection office, 262 courthouse, at 10:30 A. M. Tuesday to consider dis counts on smutty wheat and excess mois ture; also federal regulations on sampling sacaea grain. - - Terminal receipts, in cars, were re ported by the Merchants' Exchange as follows: Portland Wht. Brly. Fir. Oats. Hay. Alternate Ten-Tear Theory Holds Good According to Government Forecase; Figures Due Soon The total apple crop of the Pacific northwest this year is estfpiated at 31, 802,000 boxes, or 8.327,000boxes less than last year and 2.722,000 boxes more than the crop of two years ago. The com mercial apple crop. estimate, soon to be announced by the government, will no doubt show the same ratio. The decrease in the west is more than offset by -the heavy increase in production in the east ern barreled apple sections. The con ditlons were to be expected, as last year the boxed apple districts of the north west had a heavy crop,lwhile the east em yield was light. The average condition or, apples for the United States on June 1 was 72.7, against 42.2 one year ago and 69.2 the ten-year average condition on June 1. The fore cast of total apple production for the country this season Is 179,810,000 bushels as compared with 98,097,000 bushels in 1921 and 179.000,000 bushels, the average production for the five years. 1916-20. The official forecast of 1922 total pro duction, based on June 1 conditions, com pares with the yield last year and two years ago, in bushels, as follows: K. T. Penn ... Virginia W. Va Ohio ... Mich- Missouri Arkansas Colorado Idaho Oregon ... Calif Wash. ... 33 states To'l U. S. 1922 1021 1920 29.04S.OO0 10,032,000 8,063,000 4,583,000 7,6.19.000 10.078,000 7,156.000) 3,800,000 8,863,000 3.800,000 5.24S.OOO 7.2-'l,000 22,754,000 123,905, 000! 17B.810.000! 12,557.000: 2,208,000 708,000 420,000 8.390,000 6.317.000 480,0001 120,000 8,200,000 1 4,400,0001 6,667.000 6.500.000 29,062,000 6,029,000 47.0S7.000 18.584.000 13,744,000 S.040,000 13.060.000 16,500,000 4.724.000 3.900,000 2.830.000 3.420.000 4,158,000 6.000,000 21.502.000 164,449.000 8.0!)7.OO0;223.677.000 The government report for Oregon has already been printed In these columns. Washington apples averaged 85 per cent of normal on June 1, forecasting a total crop of 22,754,000 bushels as com pared wjth 29,062,000 bushels in 1921 and 21,502,000 bushels in 1919. June 1 con ditlons indicated a commercial apple crop of 6,295,000 barrels, against 8,300, 000 barrels last season. Washington peaches, with a condition of 77 on June 1 gave promise of 1,471.000 bushels, as compared with 772 bushels in 1921. The pear crop of Washington is expected to amount to 1,674,000 bushels, based cn a condition 77 per cent of nor mal on June 1. 1921 crop was 1,710,000 bushels. BAY CITY BUTTER OUTLOOK GOOD Dealers Look for Firm and Active Market This Week Eastern Trade Irregular, The butter market was irregular dur ing the past week at San Francisco, with changes in prices almost daily. The un derlying conditions were not greatly changed and trading was active locally with some shipping south. Prices reached 88H cents Monday and almost imme dlately butter began to be withdrawn from storage to meet the heavy buying demand. Sellers offered stocks freely, causing prices to decline, and 92-score closed Friday at 37c, only above the week before. The general firm tone of the market was aided by heavier re tall buying for convention visitors and somewhat lighter receipts. Dealers look for a very firm market this week with higher prices. Storage holdings at San Francisco gained 145,793 pounds from Friday to Friday, compared with 163,908 pounds for the week before. Pacific coast holdings are practically equal to last year. The eastern markets wers affected mostly by nervousness and inconstant supply and demand. Operators hav -.v fcb ii,vra kcid iuu uiHa io store safely, but some storing must be done to take care of next winter's needs. There is a, question whether now is the time to get June butter or whether prices will be lower later in the month. When buying starts it usually becohiea quite active and sellers raise their asking prices until a point Is reached where buyers suspect that a break is imminent and then trad ing immediately become very quiet All buyers hold off as much as possible and sellers by reducing the asking prices Jo keep goods" moving force prices lower: then buyers trying to get in at the bot tom rush back on the market to start the cycle all over again. It Is Interesting to note that the week opened and closed at the same price, in dicating a fairly steady condition with markets only subject to minor fluctua tions. Production and receipts are con siderably heavier, but the storage move ment is also heavy, amounting to over 1,000,000 pounds a day for the four mar kets for the first three days of the week. Fancy butter was In good demand nearly all week, also best cars of centralised at Chicago, but were reported slower in other markets. Lower grades were slow. WHEAT BIDS REDUCED 4 CEXTS Local Market Quiet and Lower With Slump at Chicago. The break tn wheat prices had the ef fect yesterday of again stopping trading. Bids on all grades and deliveries were reduced 4 cents at the Merchants' Kx change. If offers were made on the out side they -were not available. Stocks of old wheat are small and at no time have been freely offered, which makes cover Ing of sales difficult, regardless of the trend of the market. The Chicago wire to the Gray-Kosen baum Grain company follows: "Heavy liquidation breaking market devoid of sufficient buying power to cause more than unimportant recoveries. Situation looks discouraging. Country selling wheat freely. Europe apparently indifferent even on decline. Sentiment bearish but it will take something dras tically different to turn market." At Liverpool July wheat closed 114d lower at 10a 6d., and September closed id. lower at 10a 2d. Spot No. 2. red winter, was Id. lower at 10s. 7d Aus tralian at 11a lOd. and No. 1 Manitoba lis 9d. Buenos Aires wheat opened cent Monday 63 i ear ago . . 242 Sea. to date 28.485 Year ago... 19,776 Tacoma Saturday .. 20 Year &ea ... Sea. to date 10,068 tear ago . . Seattle Saturday , Year ago -. Sea. to date.. 8.4R8 Year ago 4.028 4,880 19 8 CR9 289 98 54 183 226 9 5 2182 1113 1306-1020 15 2084 2 870 593 180 192 4 2 466 2058 2430 847 960 10" 1781 1491 5-gal'on cans. 1.25: balled. In harrvlm $1.12; 5-gallon 'cans, 21.27. - ' TURPENTINE In drums, $L23: 6- gallon cans, $1.38. WHITE LEAD 100-pound kegs. 12 Me per pound. GASOLINE Tank wagona and Iron arrels, 28c; cases. 3814 c. - Lumber. The following are direct quotations on Douglas fir and represent approxi mately prevailing f. o. b. mill prices in car lots and are based on orders that have been negotiated: ' ' - Pre vailing price. High. ."...$01.00 40.00 SO. 36 00 SG. 38.00 Low. 147.00 $49.00 88.00 33.50 3.7.00 B5 on . 2 and better 51.00 STBAWBEBRY . MARKET BREAKS Supply Is Too Heavy for City Trade and Prices' Are Cut. The strawberry supply - was heavier yesterday than the local demand could absorb and a considerable part of the receipts had to be carried over in spite of sharply reduced prices. On the early farmers' market good berries sold at U. 5081.75. Prices on the street in the afternoon ranged from $1.251.60. Some of the large growers announced they would have only about two more pick ings. A car of Imperial valley cantaloupes arrived. They were of very good qual ity and sold at $8 a crate. - Fancy California cherries were offered in 10-pound boxes at $2.502.75. Cube Butter Market Unchanged. The cube butter market was firm at last week's prices. Shipping orders and buying for local storage took care of the Lsurplus. The demand for eggs has decreased as receipts have fallen off. Local con sumption, which was heavy before the berry season, is now light. There was no change in prices yesterday. Poultry and dressed meat arrivals were moderate and prices were steady. ' Small Decrease in Wheat Visible. l ne American visible wheat supply statement compares aB follows: June 12. 1922 26.329,000 533.000 j lino ia. 1,1 ....... h ifii mill -vK nnn June 14, 1920 31.952.000 3.30i!ooo Flooring 1x4 No. 2 VG . 1x4 No. 3 VG . 1x4 No. 2 A B, 1x8 Xo. 2 & B, Stepping No. 2 4 B. . - misn No. 1x8 10-inrli Casing and base" Celling ix4 No. 2 A -R 1x4 No. 2 & B. . . xx io. 3 Drop siding 1x6 No. 2 & B. . . 1x6 No. 3 '.- Boards and ST. Vn 1. IxS-lp-inch 'ig.50 lxl2-lBch 18.00 Dimension No. 1 2x4 12-14 .-3 ,i ti n Planks and flma.il t,'W,ha ' l--!? S 4 S 18 50 16.50 3x10-12 12-16 S 4 S. 20.00 19.00 Ilmbr?. sl fe-t and under 6x6-8x10 S 4 S 22.00 20 00 Lath F'r 5.50 5 00 , 60.00,. , 33.00 36.00 31.00 es.oo 33.50 34.00 33.00 30.00 12.50 14.00 12.00 15.50 PUBLIC UTILITIES GROW IN STRENGTH Securities Win High Favor - ; of Investors. - c MONEY MARKET EASIER 13.50 18.50 OF BAKER ACTIVE PRODUCTION ALREADY IS AHEAD OF ' LAST YEAR. Ben Harrison Mine to Start Op erations This Month on Large : Scale; Ore Is Struck. Increase. The coarse grain visible statement com pares: June 12, 1922, corn. .30.313,000 3,267,000 June 13, 1021. corn. .12,037,000 679,000 June 12, 1922. oats. .47,312,000 678,000 June 13. 1921, oats. .34.433,000 3,101000 June 12, 1922, rye... 4,522,000 21000 June 13. 1921. rve... 1 Ml mvi mnetnn June 12, 1922, barley 1522o00 142000 Jue 13. 1921 barley 1,539,000 85.000 Decrease. Bank Clearings. Bank clearings of the northwestern cities yesterday were as follows: Clearings. Balances. J6.0S7.842 $1,203,025 0,700,344 637,255 2.110.574 904,242 -Transactions, $2,316,000. Portland Seattle . Spokane Tacoma- noon session Bld.- .. June. July. PORTLAND MARKET ' QUOTATIONS Grain, Hour, Feed, Etc Merchants' Exchange, Wheat Hard white, 1 in si is Soft white J 1.14 iiio wnite ciud 1.14 l.lo Hard winter 1.14 . 1.10 Northern SDring . 1 14 1 in Bed Walla 1.10 1.04 Corn - N'o. 2 E. Y. Shipment 28.50 28.50 FLOUR Family catents. 4.8.20 n.r Doi.: wnoie wheat, Ii.20: graham, $ oaaers nard wheat, Jo: bakers' blue- stem patents, $i.80; valley soft wheat, 10.1v; straignts, ia.su. aiibLFEED Price f. o, b. mill: MM- run, ton lots. S3, : middlins-s. sri mil. barley, i3638; rolled oats, $43; scratch ieea, $oo per ton-. . CORN White, $35; cracked, $37. HAY-Buyinir price, f. o. b. Pin-tlnnA- Alfalfa, new, $14$15 per ton: cheat, 17: oats and vetch, $18: clover. 17: valley timothy, 118; eastern Oregon Butter and Country Produce. SUTTER Cuhes Hlra SAii 1-: parchment wrapped, box lots, 40c; v. i. uuLictiiit, ouying price, wo. siaue, o3io4ic aeiivered Portland. EGGS Buying price, current milni. w uu, Henneries, Z3C dozen: ion. bing prices, case count, 2021c; can dled ranch, 23c: selects. 25c CHEESE Tillamook trioleti. Jobbers, f. o. b. Tillamook. 23c: Tounk Americas, 24c pound. rUULIHY Hen 1 , '"y"-', -ovjo; geese, nomi nal;, turkeys, live, nominal; dressed. 40c. m,j runwy, litjuc per pound. PORK Fancy, 15 He per pound. Fruits and Vegetables. Local Jobbing quotations: FRUITS Oranges, Valencia. t !tn, 75 box; lemons. $7.50ffl9: .,r, $4 10.50 box; bananas. 9 10c pound apples, 11.25 02 per box: strawberries. yregon. l.2ol.75 per crate. Canta- yjya, Vo ltlie: CnemeS. f'SOith 75 per box: gooseberries. KifliiA,. D 1 it nnre. a. - .. . 100 pounds; new California, 57c per pound; sweet potatoes, eastern, 1.75 per OXION'S Crystal wax: tl - California red. $2.50 oar snrt VEGETABLES Cabbage, 45c per pound- lettuce, $2.502.75 crate; garlic luisloc per pound; green peppers. 25c per pound; tomatoes. $3.50g5.50 per crate; artichokes, $1.25 doaeri; cucum bers, $1.252.50 box; rhubarb. 35C per iUUuU, (((jiac per pound: asnara- us, $1.752 per doren: green ea 11c pound; beans, 15 18c pound. - BAKER, Or.;. June 12. (Special.) Mining conditions in the Baker district are active and production already -this year surpasses that of last year, when production was about 40 per cent of nor mal. Since the Baker district normally produces approximately 85 per cent of the gold, sliver and copper and lesser metais mined in the state a 0r,f vival of mining is expected here. The encouraging part is the resumption by the smaller as well as the larger and beUer financed groups. 'Condensed re ports on the mines showing activity Ben Harrison Granite district. W C Fellows, manager, will start operations this month on a large scale. The man agement intends to sink to the 1000-foot level and run drifts to block out the ore. Between 30 and 40 men will find steady employment. SnOW Creek r,Hnhnm Jl.f..!.. T T to,,, UI r,ew Tork. manager J. bullivan, superintendent. sin. high-grade ore for shipment. McCorkle mine Mineral distrlot, Frank McCorkle. manager. Shipping high-grade iiuMumg goio, siiver and copper. Flotation Plant to Be Bntlt. . Buffalo Granite district. O F. Pot. u, Buiciiiiienueni. J,ow shipping high grade crude ore. Expect to build flntn. tion plant for the milling grade Last Chance Cnrmimm. Hietw -o-i. en- m. tsetts, manager. Recently struck ... "-"-'not depth, after cross uiuii.iiiiv jeet lor that purpose. Now raising and drifting and expect to start .liming BUUI uy. -Doiianaa ureennorn district, Frank Dodson. manager. ComnipteH 101 . stamp on good ore. oiue rtiDDon liranite district. Sam T", manager. Taking out and ship. struction " "T IOr mW c" Lost Trail Pleasant Valley district, P. ..' , , B . manager. Engaged in de- voiupmg ana mocking out ore. Eighteen men employed. Independence Granite district, Walter T "'"""" manager. Mr. Gleeson ar- ...... w ana went, to the mine Stock Ownership Among Custom ers iSaid to Be More Common Throughout Country. Veal Wanted Receipts Light. Market Better. Cold Storage on Premises. - THE SAVIXAR CO., INC 100 Front St. Portland, Or. INTELLIGENT PRODUCE MARKETING You will get- higher returns for your produce if you will use our new methods before shipping any product to market. Write- Vm at Once. V Will Be Pleaaed to Tell Von Rm. BURY 9, Pfl ICO CDflUT CTDCCTI liwu 1 uiuuif luif 1 llUill ul IlLLI I .Oils, PORTUASFD OH. j UNSEED OIL Raw, la barrels, u. Staple Groceries. Local jobbing quotations: lated. 6.90c pounds beet, 6.70o per pound X.-TTTO Walnt USH. T 73vfn, iinonua, 214n 26c: peanuts, 10llc per pound RICE Blue Tose. 6.456.75c per pound; Japan style, 6.106.25c per pound. COFFEE Roasted, bulk, in drums. SALT Granulated, bales. $3.2504 05 half ground, ton. FOs. 517; 100s $18. DRIED FRUITS Dates, 14c per pound figs. $1.902.75 per box; apples, 15c per pound; peaches, 16c; apricots, 23c prunes, 914c BEANS Small, white. 6Hfi8c- larva white, 5ftc; pink. 5c; bayor6ttd; rid. $c; lima, 11c per pound. Provisions. , Local jobbing quotations: HAMS All slies, 3b 39c; skinned .40 41c; picnic lie; cottage roll, 25c. ' BACON Fancy, 39045c; choice. 400 34c: standards, 2o27& LARD Pure, tierce. 15c pound; com pressed, tierces, 14 pc DKlf SALI Bcs. 19022c; plates. 17c 1 Hides, Bops, Etc HIDES Salt bldea. 6c; salt balls, 4c green bulls, lc less; grubby hides and bulls, lc less; salt caif, luc; salt kin, Ic; salt horse hides, $12 each; djj horse hides, JOctJJl each; dry hides, loc ary cull hides, half price. PKLTS Dry pelts, lie; dry abort wool pelts, half price; salt petts, full wool. April take-oft $1.25L7s each- dry goat skins, 12c (long hair). TALLOW No. 1. 4c; No. 2, J0 per pound; tank tallow, 2$c per pound. CASCARA PARK New peel pound; old peel, 6c pound. OREGON GRAPH Grape root. So per pound. HOPS 1921 crop, nominal 12014c pound ; contracts, 15a WOOL Eastern Oregon, 26 03 So per pound; valley wool, 20 36c utin irfins: staple, S2t7s3e delrv red Portland; carding, 2Sc; berry, 30o pound. GRAIN BAGS Car lots, 10c, mast. "r -lmmeaiate resumption of lii v "' campaign ot development win K t8!"!' and the dotation plant will be put into commission t tv,. est possible date. Big Badger Susanville district, Charles 5r, '"""V. y" President; Sam Simpson, superintendent. Now milling Rainbow oMrmon Basis district, Lo raine King, manaeer- . superintendent. Engaged In developing and reopening the mine. Twenty men are High-grade Ore Struck ounoay Hill Mormon Basis district ..,..im r-neian, superintendent. Struck B,auc vi-o t ou-root depth. Driv ing a tunnel 200 feet and will drift 500 rv?;J&,-t,E."eJfa Excelsior)' Crack. .dent of the Blue Mountain Mines com pany, is expected at this property shortly wres"m.f ?Peratl"'- This mine has mn.t XI ,i. X on large scaie when most of the others were shut down Iron Dvke ftnaira T5,- Lindsay, manager. Operations have been resumed with a crew of 35 menV which will shortly be Increased. The Iron ?,f Ti'-L" "reseat copper pro- ; ,7 ,luu uuring tne war. hfi ZuTlr? Ni G"ch'-i8t. manager. A ball mill and concentrators are on the premies and a flotation plant is Bay Horse Peter Miller 2ttr.efln!.a.?lr J,ne thia PP"r 1 ,nr,h...' tC'-"- ""eniion from -vioatana sources Crude ore is being shlnnert ,..,-. -unKer Hill, Idaho, intervals smelter. to con- concentrating Silver Concentrates Shipped. E WnrtT-Vr-Er. district. George rtt--, - ' oipjJiag silver proaucea by tables and flotat inn North Star Mineral district. Onerat. cnr-J", JZZ b1"1 y Spokane tT . uuy ore, mostly silver. lttot ee at iJUO-root depth Aas&va ----- u-uvca anver a ton. ager tlV P' Kenndy. man ager. Tils la the &rtrM tensively developed copper property in" the west. Diamond lirlin. i... systematically followed for over a period JJLhJ With gratifying result A --... u irom Homestead ?,r--t.-i3-beinK ,built t0 the mines, and i""" re unaer way for ioaa When4 r? f" ProSuln. on i7 na w cave over -000 men QUOTATIONS ON JA1RY PRODCE Current Market Balia on Butter. Che SAN FRANCISCO, June 12. (State di sion of market 40c; first. 2Sc- Mira Eggs Extras, 29c; extra pullets 25e idersired pulleta. No, 1, 20c. "c -rhrtr U-u, k America, fancy, 25 He There will be no session of the ex change tomorrow (Tuesday). NEW YORK. Jun 19 a. Creamery higher than extras. 37fi37 extras. 36c; firsts, 83H36c; packing stock, current mk 6 Eggs stead v. Prh ro.i. j firsts, 26H2Sc; firsts, 24 26c; sto eBo Vatr.ru CAll tt iirStS, (B 2C : firsts Cheese firm. State vTinu.miTv fmah cnaolsle IQon.. "ZT average run. IKU state wnoie-milk twine r-x. 8"w' lawman;; average run, lgUo. CHICAGO, June 12. Butter iramciy extras, dosc; firsts, 30 v-v7Ktt occDiius, aosffac; standards. 35 He Eggs lower. Receiots 4fi?T7 firsts, 2222Uo; ordinary firsts 9id 20Hc; miacellaneous, 21H22c; storage pa.u.eu extras, c; storage packed firsts 23fct ' SEATTLE, June 12. Eetrs Kflfr-t i cal ranch, "white sheUs. 2627c; do mixed colors, 24 25c ; pulleta, 22c. Butter city creamery cubes. 39c: bricks or prints, 40c Xaval Stores. SAVANNAH. June 12. Tumntl-nm firm, 89 c ; sales, 235 ; receipts, 278 ; shipments, 383; stock, 1442. Rosin Finn ; sales, 1316 : receipts. 1129; shipments, 1086; stock. 64,371. Quote: B, $4.10; D. S4.30: E. S4.40: P. $4.45; GH. 4.50; I, S4.55; K. 4.5; M. 5.1fi; N. $5.25; WG. $9; WW, $6.fi0. Dried Fruit at New York. NEW YORK. June 12. ETararatftd apples, quietr state, 18c Prunes Steady; . . Callfbrnlaa. 6UA ISHe; Oregons, HOl4ViC Feaenw uuiet; onotce, lSfilSc; in tra choice, 16 0160 ; fancy, 10 9 20c rontan. Main 7070, Automatic 560-95. none your want 4s to Th Ore- BY W. P. STRANDBORG. ' NEW YORK, June 12. (Special cor respondence.) As the fiscai year is drawing to a close, evidence is accumu lating that the public utility companies of the country are enjoying greater financial strength and stability than at any time since before the war. This sit uation is of greatest significance and importance from the fact tha this in dustrial group devoted, to public service now requires, and for years to come, will require additional capital expenditures running well into the billions each year. The fine showing that has been made is not confined to any particular section or sections of the country, but it is clear that the healthier tone in the utilities is nation-wide and the improved condition in financing is reflected in the sharp up--ward trend of public utility stocks dur ing -the last 18 months. For example, a group of representative public utility stocks, 20 in number, shows that the average market priced have advanced from 351 on January 1, 1921; to $77 on June 1,. 1922. Supplementing this is the even more essential factor, the unprece dented absorption of new security issues by the employes, customers and patrons . ot these utilities under what is generally jcnowii as the "customer ownership plan. " Securities in High Favor. The writer has lust gone over the rec ords of this amazingly popular and tre mendously successful system of home financing as compiled by the National Electric Light- association here in New York. The survey covers the entire United States. The showing is emphat ically eloquent of the fact that no class ot securities ever offered to the public have been received , with such marked and instant favox in virtually every pop ulation center In the country where "cus-. tomer ownership" has been attempted as a means of financing utility require ments. ' More than 200 ' individual light and power and electric railway utilities are now financing their improvement, bet terment and extension needs through the sale of their securities in the local com munities in which, they operate. In checking over a group of ,S4 com panies scattered over the entire countr, it is interesting to note that this "home rmancing movement, which is of such recent origin, already has added a total of 1,320,224 shares and at least 50 per uem may ne acaea to tnis total as rep resenting the remainder of the 30O r.nm. panies not reporting in the current sur vey. The totai number of new share- noiaers is more than 200,000. Growth Is Rapid. The report shows that over 6 per cent of the customers of these companies now own stock -in them, nd their holdings a.vcra.se arouna seven snares per owner. More than 80 ner cent nf tHa atPir. holders of all the utiliti have been obtained through-the customer ownership plan such as is followed by the Portland Railway, Light & Power company and the other utilities in Port land. The underlying reasons for the marked success in this movement are flrnt that the electric light and power Utilities have Hn giuwing mm great rapidity; com modity prices have been failin n.i earnings have heen satisfactory. In ad- " t-uese iactora, wmch have made utility securities attractive, there has been a notable decline in the price of vc sciiiiiB price oi securities of recog nized value. - Based on the tendencies shnwn hr curity offerings of upward of 20 different companies in different section r.r country, it is only too apparent that the Anva of tha T - f . ... ..rV, per cent preterred utility stocks are virtually past. It is true that a few isolated instances of wuij.bicb now cleaning up the remain der of current issues of 7 nr ...i ferred stocks are to be noted, the prices ranging at par or a fraction below, but new issues that are being offered and in preparation for public offering during IT! A HATt QO 4.Ar miM' i . . . - - uajs iu mil. ransra nvnr k per cent, and will be m .rtmawi, ( w yiVnx oetween 6 and 6 per ' Young Persons Invnat It is, therefore, certain tnat t,i.- and power securities offered to the pub- ucieaner at Deiow par and paying 7 per cent dividend -0,111 u .,..' attractive investments, according to the ?P .'!0,V0t.JeadiIlg Vestment managers m the light and power industry ,Vhe surPrlsi"s things Which has Interested evervnne it, thia the extent to which -the younger persons securities. This is undni.hteoM ?! the fact that young people have, during oPaSi flve years' been earning more money than probably has been the case i., in any period of the NEW ISSUE acific $750,000 Telephone & Telegraph Cumulative 6 Preferred Stock Go. StffiS ratteg6 15thf Ju!y'Ct0bCr'Jana"d AP"1. to stockholder of , - Transfer Offices OFflCB OF PACIFIC TELEPHONE & TELEGRAPH CO., SAN FRANCISCO " BANKERS TRUST COMPANY, NEW" YORK Exempt from Personal Property Taxes in California and wholly Exempt from the Normal Federal Income Tax The following information concerning the Company has been obtained from reliable sources, and while not guaranteed, is believed by us to be correct: ' , ' ', . - ' . , , .Te Pacific Telephone & Telegraph Co. is incorporated under the laws of California and with its subsidiary and connecting companies operates in California, Oregon, Washington, Nevada and northern Idaho. The exchange in toll lines of the system extends into substantially all of the population centers in the territory served.. . . i The Pacific Telephone & Telegraph Co. is a subsidiary of the American Telephone & Telegraph Co., the operators of. the Bell Telephone System throughout the United States. The present value of the Pacific Telephone & Telegraph Company's physical property is largely ss of the cost of that property as carried on the books. On February 28, 1922 the book cost of 1 excess in the comoanv's assets, valuing scuriti. nf nKi1i9w -- . - it nnnnnn u- v 7 cL jj- T i . T , , . -nviive ngures, amounted to over $147,000,000, which, after adding net quick assets and deducting the total bonded indebtedness of the company, shows a book value of more than $130 per share of Preferred Stock, including this issue. . iooi'"?8 aJaila.ble ffr d?nd for 1?20 amounted, to 1.52 times dividend "requirements; for 1921, 1.63 times.- Earnings for 1922 are running well ahead of those for the previous year. Earnings for the past decade show a satisfactory margin over preferred stock dividends. Dividends on the Pre ferred Stock have been paid without interruption since issue. - Stock offered -wrfen, as and if issued and received by us." . , ' . ' Interim receipts will be delivered pending delivery of re corded stock certificates which are expected to be available . ; v ,-. . shortly after July 1, 1922. ' r - Price to yield about 6.75 Blyth, Witter. & Co . SAN FRANCISCO Merchants Exchange Bldg. LOS ANGELES Trust and Savings Bldg. PORTLAND Corner Fourth and Stark SEATTLE 812 Second Avenue NEW YORK 61 Broadway CHICAGO ' 125 South La Salle Street .All statements made herein are derived from official eources and, while not guaranteed, are believed by us to be correct. own thrift V i tneir aiilx lue aavice or older oeo- irt hae usht vestment op a certain Part or this money. The substantial encourae-etnMir nt Tu- vrth .H . piitna oirerea together V7,th good rates of interest j payments, ia ncirnnwicri i or the pubno w itit bS: in favor i X l;e,most Potent factors I "' the future development of ?5l0 18 nTade aiTational uu:,mriers Here that within a few S rS tZii? wUt"leS Wi" "e taken care ot 1b their own home communities. ' wnpr PIES TUMBLE BIG MOVEMEXT OF NEW CROP NEAR AT HAND. " Holders Let Go in Chicago Mar- ket and Bears Are Also Aggressive. d?,G?'i?fe .12 W"' underwent a dec.de tumole m value today largely harvest is becomin? t liquidation sales by holders took place and there were also aggressive offerings !eh0rtt theat closed settl-d to ?l5c net lower with July J1.09 Corn, finished Hlc off": at w6c-i w iu cents lower. with crop news favorable from prac- Litany ail secuons and w-ith , v., ""wi Beaming 10 oe al most, certain, the accumulation of sell- -'- oTva.wjj.icu enorcs to Drine about any decided rally tn prices. En larged receipts at Kansas City counted in particular as a bearish inf i.-n d sides announcement of a reduction of .uw.vuu ouaneia in cne amount Of wheat on ocean passage was consirued as mean ing that Europeans were but little con cerned about supplies for the immediate future. Corn and oats were- weakened hv what market decline. Provisions reflected the downward course of bog values. , f The Chicago grain letter received yes terday by the Overbeck & Cooke com pany of Portland follows: Wheat There was nothing in the news today to encourage bullish endeav ors and the market feit the weight of general liquidation with an utter ab sence of support to absorb the offerings. Reports continue coming in from all directions telling of harvesting getting well under way and new wheat coming on the market. A few messages claimed wheat not filling properly in parts of the southwest, but advices of -this kind Lpassed unnoticed. Weather conditions are Ideal lor gathering the crop in south era districts and for maturing It In the; northern part of the belt. A source of much disappointment to holders has been the failure of the foreign demand to revive, while at the same time receipts of old wheat hold up above all expec tations. The present situation is a most unusual one, all predictions of a scarcity failing to materialize, while foreign and domestic interests appear disposed to await the movement of new grain to re plenish their stocks. "Corn Showed stubborn r resistance to selling pressure during the first hour but eased when wheat showed suh pro nounpfii. weakness Sntne fiirthfir Hmiirt'a. tion was induced by the unsatisfactory- condition of the local cash market, due to the withdrawal of leading buyers. We think corn futures are resting on a firm foundation. "Oats Followed the decline in other grains with the selling led by cash in terests. News was colorless and of no influence. - . "Rye Increased hedging pressure from the northwest completely offset buying by seaboard interests, which was rela tively steady with sales of No. 2 at lc over July." Leading-futures ranged aa follows: O WHEAT. Open. Hieh. "Low, PIora. .$1.1414 $1.00 $1.00 MTTLE STILL BACKWARD MARKET AT NORTH PORT LAND LACKS SNAP. July &2pt. Dec. ' 1.13 l.ltS 1.16 l.lfl 1.13 CORN. . .624 .62 .61 . !65H .6014 .63 . .64 .3 ,S OATS. . .36 .36 .35W . .38 .38 .37 . .10 .40 .39 LARD. ' .11.4 11.47 11.37 Sept .... 11.77 11.6S July Sept. Dec. July Sept. Dec. July 1.10 1.13 .61 .63 .63 ' .35 .37 .39 11.37 11.67 Cowsi and Heifers Fifty Cents Lower Hogs, Sheep and Lambs Are Steady. Of the 113 lotds of stock received at the North Portland yards over Sunday, 12 loads of hogs came -as a direct ship ment -and 28 loads of cattle and bogs went through. The demand for cattle has shown no material lmorovement since the first of I last week. Good stock sold fairly well. but there was some trouble in moving common grades, while cows and heifers registered a 50-cent decline. A distinc tion between hay-fed and grass steers is shown tn the quotations, . Hogs were unchanged for prime, light offerings, while pigs were listed higher. The sheep and lamb markets were steady Receipts were 1660 cattle, 276 calves. 3748 hogs and 2113 sheep. The day's sales were as follows: wt Price.. Wt. Price. . ,,u TRO t A 5(1110 hoips. . . 25311.(5 14 mixed 2 mixed 2 mixed 1 hog. 1 hog. 23 hogs.. 644 535 53S 230 240 177 6.00 4.00 4.00 7.M 8.501 12.00 12 wethers 90 13 wethers 103 1 buck. .. 00 lbuck... 180 1 buck. 150 2 bucks.. 145 8.30 7.00 3.00 2.50 2.50 3.00 12.12 12.00 SHORT RIBS. July 12.20 12.12 Sept. 12.10 12.00 Cash nrices were as follows: Wheat No. 3 hard, $1.13.) Corn Xo. 2 mixed, 6061c; No. yellow, 606H4c. Oats No. 2 white. 36e30c: No. white, 3537c. ttye. o. 4. tjc. Barley. 58 67c. Timothy seed, $4 5.50. Clover seed, 12 20. Pork, nominal. Lard, $11.25. Ribs, 12.5013.50. Cash Grain Market. Furnished by Herrin & Rhodes, Inc., roruana: MINNEAPOLIS. June 12. Wheat No. 1, dark hard Montana, $1.4091.44 No. 1 hard Montana, $1.31 1.36; No. 1 dark northern. Jl.40 1.53 ; No. dark northern. $1.38 1.49: No. northern, 1.391.48 ; No. 1 Durum, 1.12P1.17. Corn No. 2 yellow, 5959c: No, 3 yellow. 58c; No. 2 white, 5960o. Oats No. 2 white, 32 33c; No. 3 white, 3233c Flax $2.30 2.32. Barley 46S7c. OMAHA. 'June 12. Wheat No. 1 hard. $1.12; No. 2 hard, 11.11. Corn No. 2 white, 04c; No. 2 yellow. 54&4c; No. 2 mixed, 5334c. Oats No. 3 white. 84o. KANSAS CITT, June 12. Wheat No. 1 hard. $1.13 1.18: No. 2 hard, $1,119 1.12. Corn No. 2 yellow, 57o; No. 2 white, 66c. ST. LOUIS. June 12. Wheat No. 2 red, $1.19(91.20; No. a red. $1.121.14. Corn No. 2 yellow, 6959c: No. 3 yellow, S8c; No. 2 mixed, 6960c. DULTJTH. June 12. Flax. $2.38, Primary Receipts. CHICAGO. June 12. Primary receipts Wheat, 1,079,000 versus 1,063,000 bushels. Corn, 1.639,000 versus 1.461,000 bushels. Oats. 17037.000 versus 1.009.000 bushels. Shipments Wheat, 592.000 ver sus 949,000 bushels. Corn, 676.000 ver sus 2.112.000 bushels. Oats, 707.000 ver- sus 408,000 "bushels. Clearances Wheat, 304.000 bushels. Corn, 387,000 bushels. Oats, '195,000 bushels. Barley, 56,000. Grain at San Erancisco. - SAN FRANCISCO, June 12. Wheat milling, $2.152.20; feed, $2.052.15. Barley, feed, $1.3001.35; shipping, $1.401.45. Oats, red feed, $1.50L55. Com. white Egyptian; $22.10: red Milo. 11.77 12. Hay Wheat, $1618; fair, $141S; tame oats. S15B18; wild oat, $1118: alfalfa. 1518; new, first cutting. $13 lo; stock, 11012; straw, nominal. Seattle Grain Market. SEATTLE, June 12. Wheat, liard white, aoft sschite, white club, soft red winter, $1.14; hard red winter, $1.15; northern spring. $1.10; eastern red Walla, $1.11: Big Bend bluestem, $1.30. City delivery: Hay Timothy", $18; D. C, $20; mixed. $24; alfalfa, $22; straw, $17; barley whole, $37; ground and rolled, $39; clipped, $44; chick (tart er, $59; chop, all grains, $41: cocoanut meal, $33; corn, $35; corn cracked and feed meal. $37; cotton seed meal, $52; linseed meaU $59; scratch fobd, $48; soy bean, $58. . Winnipeg Wheat Market. WINNIPEG, June 12. Cash wheat No. 1 northern. $1.29: No. 2, $1.25; No. 8, $1.15; No. 4. $1.04; No. 5, 9c: July, $1.28: October, $1.14; December, $1.12. . Minneapolis Wheat Fa tores. MINNEAPOLIS. June 12. Wheat. July, 11.81; September, tua. 27 steers, 1002 28 steers. 995 o steers. 107J S steers. 910 2 steers. 475 10 steers. 858 16 steers. 998 11 steers. 1058 4 steers. 965 24 steers. 1015 3 steers. 733 2 steers. 995 10 steers. 1003 5 steers, 978 10 steers, 956 25 steers. 995 11 steers. 1057 2 steers. 1070 2 steers. 860 3 steers. 965 2 steers. 1Q00 24 steers. 1021 20 steers. 1120 26 steers. 1076 2 steers. 1136 2 steers. 955 27 steers. 955 8 steers. 1016 10.25 3 steers. 915 8.00 26 steers. 1125 21 steers. 1093 46 steers. 1075 1 steer.. 850 2 cows.. 1105 16 cows.. 866 10 cows.. 749 4 cows.. 1040 7 cows.. 1070 6 cows.. 1001 Scows.. 906 9 cows.. 1092 4 cows.. 912 2 cows.. 901 C cows.. 1054 3 cows,. 656 6 cows. 1033 3 cows.. 953 2 cows,. 1076 12 cows.. 1032 3 cows.. 1110 11 cows.. 997 5 cows., 1015 2 cows.. 940 4 cows 707 9 cows.. 844 6.35 6.35; 6.00 8.00 5.60 6.00-7.001 7.25 6.00 7.25 5.25; 7.35 7.25 7.00 7.00 8.00 8.001 7.00 5.00 7.50 7.50 8.001 8.50! 8. 6.85! 6.851 8.35 UShOKS.. 185 12.00 62 hogs. .. 402 .12.00 3 hogs. . . 3U3 vw 3 hogs... 186 12.10 1 hog. ... 220 10.50 11 hogs. 185 12.00 4 hogs. . . loo iz.w 51 hogs... 81 12 JO 11 hogs... 267 9.00 8.35 '8.75 8.751 5.00 4.00 5.35 6.25 3.65 4.25 6.00! 4.00 6.50; 3.50 4.00J 5.00 6.501 6.25 3 hogB. , hogs. . 100 hogs. 89 hogs.. 36 hogs.. 196 12.00 225 10.50 196 12.00 192 12.00 151 11.85 380 8.00 250 11.00 320 9.00 133 11.75 140 11.85 4 hogs... 260 11.50 1 hog. 1 hog 1 hog. 3 hogs. . . 2 hoes... 1 hog 320 8.00 6 hogs... 211 11.00 19 hogs.'.. 195 12.00 3 hogs... 276 11.00 3 hogs... 143 11. 10 hogs... 161 11.90 l nog. .. . eo . s.uu 6 hoes... 140' 11.85 46 hogs... 186 11.75 Mhogs... 180 12.00 82 hogs... 119 12.00 28 hogs... 175 12.00 z nogs zuu 12.00 5 hogs... 125 11.85 21iloes... 133 11., a nogs... 24o 11.50 2 hogs... 235 12.00 Prices quoted at the Portland TTni'on stockyards were as follows: Cattle Choice hay-fed steers $ 8.25 8.75 Med. to good hay-fed steers 7.75 8.25 Choice grass steers 7.7o 8.25 Medium to good steers 6.75 7.75 Fair to medium steers .... 6.25 6.75 Common steers '. ... 6.00 6.25 Choice cows and heifers .... 6.25 6.50 Med. to good cows, heifers 5.25 6.25 Fair to med. cows, heifers .. 4.25 5.25 Common cows 3.50 4.50 Canners 2.00 3.50 Bulls 3:75 5.50 Choice dairy calves 8.50 9.50 Prime light calves 8.00 8.50 Medium light calves 7.O0 8.00 Heavy calves- 4.50 7.00 Hogs Prime light 11.7512.25 Smooth heavy, 200-300 lbs. 11.000)11.75 Smftoth heavy, 300 lbs. up .. 10.00 11.00 Rough heavy 8.00(5) 10.25 Fat pigs ; 11.7512.00 Feeder pigs 11.-75SU2.00 Stags; subject to dockage.... 5.00 8.00 Sheep Best spring lambs Medium spring lambs .. Common spring lambs Cull lambs .............. Light yearlings Heavy yearlings ....... Light wethers . .... Ewes ' 10.0011.00 9.0010.00 6.00 7i00 meet1"!?- 8.00 9.00 7.00 8.00 7.00 8.00 2.00 6.00 transportation. Mr. Sensenich attended a session of the executive council of the American Bankers" association, of which he is a member. This was held at White Sulphur Springs, W. Va. He attended also the convention of the United States Chamber of Commerce at Washington. As the pleasure part of his trip he visited for some time in his old home state of Pennsylvania. . - ' Portland bankers rh attended the annual convention of the Washington State Bankers "association at Spokane last week returned much pleased with what they had seen and heard. It was the largest and best convention the Washington bankers have hold, more than 525 delegates being registered. hTa -delegation from Portland included the following: w. L; Thompson and Arthur O. Jones. Firs National; E. C. Sammons and A. M. Tucker, United States Na- tional; R. S. Howard and a A. McLean, Ladd & Tilton, and Charles L. Stewart, Northwestern National. Messrs. Howard. Stewart and Sammons attended the state convention of Idaho bankers held at Hayden lake last Tuesday and Wednes day Just prior to the Washington state 31 eows.. 5 cows.. 2 cows.. 2 cows.. 2 cows.. 4 cows.. 6 cows.. 2 cows.. 13 cows.. 6 cows.. 4 cows . 982 784 790 965 933 ; 915 1064 945 1042 881 770 8 hogs. . 4 hogs. . 4 hogs. . 32 hogs. . a nogs . . 1 hog... 1 hog 1 hog. . . 1 hog. 9 hogs. . 1 hog. .. 136 hogs. . 1 nog 350 1 hog 180 11 hogs... 179 S3hogs... 185 1 nog 180 100 hogs.. 182 10 hogs... 133 oi nogs. 1 hog. . 11 hogs. 138 hogs. 5 hogs. 1 hog. . 8 hogs. 3 hogs. 2 cows.. 1140 2 cows.. 995 6 cows.. 851 12 cows.. 1040 1 cow. ,, 720 7 cows-.. 1052 1 cow. .. 870 1 cow. .. filrt 21 cows.. 870 14 cows., fii 9. 27 cows.. 1055 z cows.. 1240 18 cows.. 1105 Scows.. 848 12 calves 12 calves 1 calf. . 13 calves l cair. , 1 calf.. 1 calf. . 1 calf 47 ealves J cair. . 4 calves 2 calves 2 calves 2 calves 1 calf.. 1 calf. . 32 calves 5 calves 1 calf.. 6 calves 16 calves 6 calves 1 calf. . 8 calves " bulls.. 1340 8 bulls.. 1496 lbull.. 2020 2 bulls.. 1100 lbull.. 1340 S bulls.. 1342 8 bulls.. 1430 6 bulls.. 1530 lbull.. 1550 lbull.. 1260 lbull.. 610 lbull.. 1480 lbull.. 1120 lbull.. 950 IS mixed 60S 817 317 100 209 150 150 150 230 195 - SIO 172 175 115 198 140 250 190 140 160 143 68 115 130 133 9.00 9.00 9.00 1 9.501 9.25 9.50! r.oo 9.501 8 ewes. r.ooi 8.50 9 ewes. . 7.0OI 5.50 6.50! 8.25 8.251 4.25 4.501 248 11.55 245 10.50 242 10.00 194 12.00 270 11.50 180 10.50 150 10.00 180 12.00 500 7.50 158 12.00 470 8.00 177 12.25 350 9.25 180 7.25 179 12.10 185 12.15 11.15 12 25 12.00 127 J1.85 167 1225 113 12.00 160 12 00 150 12.25 271 11.75 280 10.25 hogs... 114 11.85 18 hogs... 172 12.25 1 hog 300 10.15 4 hogs... 120 11.65 3 hogs... 100 12.00 27 hogs... 162 .12.25 59 hogs... 220 12.00 l nog.... 160 12.25 7 hogs... 125 12.00 hogs... 118 12.25 21 hogs... 180 12.00 80 11.00 58 6.50 80 11.00 53 6.50 60 9.50 61 11.00 81 11.00 62 9.50 55 0.50 53. 7.00 56 11.00 55 8,50 70 11.00 50 6.00 52 1100 so ft.oo 65 10.75 68 9.75 70 11.00 50 , 6.00 5 4.50 6.25 5.50 635! 5.25 4.25 5.00 6.5W 5.35 4.25 5.25 3.50 6.50 6.50 6.501 6.00 6.00 - 5.25! 6.00 5.50 4.50 6.50! 5.50 6.50i 5.50 3.50 600 f-60!l2 lambs'. f"S! lambs.. 6-50:i7 lambs.. .00 238 lambs. 8-50 li lambs.. B-50 53 lambs..-5-50 26 lambs.. 6.001224 lambs. 6 00,10 lambs.. .,iu lamos 17 lambs.. 4 lambs.. . lambs..1 5 lambs.. o 1U.IHOS.. 8.00! 5 lamb... 9.50140 lambs. 8.0032 lambs.. 6.00 32 lamh 8-50! 3 lamba. 23 ewes.. o eves, 8 ewes. .. 130 118 116 82 153 120 135 126 92 100 73 124 100 : ewes 15 ewes. , 8 ewes. . 5 ewes. . 1 ewe. ... 3 ewes. . 5 ewe. . 4.25UO ewes.. 4.50(22 ewes. . 6.001112 ewes. . 115 4.50179 yearl... 84 4.50 111 yearl.. 94 4.35 8 yearl. .. ' 96 5.25! 2 yearl... 85 8.001149 yearl.. 90 4.00149 yearl... 107 4.501 7 yearl... 97 6.001 2 yearl... las 4.50!1S wethers 118 6.00i 1 wether. 110 4.75 4.75 4.75 2.00 8.00 5.00 5.50 8.00 2.00 2.00 6.00 4 00 LOO 8.00 6.00 7.00 9.00 9.06 6 00 9.00 8.00 9.00 7.00 TOO T.00 Chicago Livestock Market. CHICAGO, June 12. (U. S. Bureau of Markets.) Cattle. 24,000, slow, beef -steers uneven; mostly weak to 15c lower; few strictly choice kind about steady; top, $0.50; weight, 1446 pounds; bulk beef steers, $8.259; she stock, weak to 25c lower; in-between grades off most; bulls and stockers, steady to weak; veal calves, 25 50c lower, quality considered; bulk butcher .cows and heifers, $5.50 7.35; bulk bologna bulls, $4.404.60; bulk vealers, early top , packers, $10 10.50. Hogs 56,000; market active; light and light butchers 1015c lower; others 15 20c lower; top, $10.75: bulk. $10.10 10.63; pigs, steady; mostly $9.7510.50; heavy weight, $10.30 10.50; medium. $10.4510.65: light, S10.6010.70: light light,"$10.4O10.70; packing sows, smooth. u.iotEcu.oo; pacKing sows rough, $s.io .7&; killing pigs, $.5010.S0. Sheep 19,000; desirable dry-fed lambs. steady; top, $12.50; other killing classes aged lambs and sheep, steady and lower spring lambs, 25 50c lower: top springs. $14.25 early; desirable killers, mostly $14 with culls largely $7.50 8; stock ewes, active with young natives upward from $7.aU; yearling ewes to $9. Kansas City Livestock Market. KANSAS -CITY, Mo.. June 12. (U. S. Bureau of Markets) Cattle 11,000; beef steers, steady to 15c lower, mostly 10 steers, steady; top light steers, $9.50; best heavies, $9.25; she stock calves and stockers, steady to weak; medium good cows, $5.506'.25; yearling heifers. $8.85; best vealers, $1010.50. Hogs 15,000, opened slow; later trad ing active to packers and a few ship pers, 10 15c lower; "bulk, 175 to 240 pounds, $10.3010.35; shippers took about 500; bulks of sales $10.10 10.35; top, $10.40; throwout sows, $9 9.25; stock pigs, steady to 10c lower; bulk desirable natives, $10.75010.60; best, $11. .. Sheep 8000; killing classes generally 25 Iff 50c lower; wethers. $6.256.75; light ewes, $5.50 6; clipped lambs, $11.25; native springers, $13.50. Omaha Livestock Market. OMAHA, June 12. (U. S. Bureau of Markets.) Hogs 14,000, mostly 1525c lower: bulk 180 to 240 pound butchers. $10.0510.20; top. $10.25; bulk 250 to 325 pound butchers, $9.80 10.05; pack ing grades, $99.60. t Cattle 7500; beef steers mostly 1015c lower; spots, 15 25c lower; $9 bid: she stock, steady to easier; other classes of stock mostly steady. Sheep 9000; lambs, 2550c lower: top springers, $14; bulk Idahos and Califor- nlas, $13.50 13.75; practical top-clipped lambs. $12.25; shop and feeders, 25c lower; ewe . top. $5.75; feeding lambs, $11.75. ... San Francisco Livestock Market. SAN FRANCISCO, June 12. Steers No. 1, $6.75 0 7.25; No. 2, $5.256.25; cows and heifers. No. 1, $4.755.25; No. 2, $4 5; bulls and stags, $4.24; light calves, $89; heavy, $5 7. Sheeo wethers, I6.50&7: ewes. X34: lambs. $10.5011.50. Hogs, 12o to 200 pounds, $12: 200 to 250 pounds, $11; 250 to 300 pounds. $10. Seattle Livestock Market. SEATTLE, June 12. Hogs, steady: re ceipts. 715; prime,. $11.5012; smooth heavies, $07.75; pigs, $9.75'10.25. cattle bteady; receipts, 537: prime steers, $8.50g9; medium to choice, $7 7.50; common to good,' $57; best cows and heifers, $6.757.25; medium to choice, $4.60 6.25; light calves. S9& 12; medium calves; $8 9; heavy calves, S7ifH: bulls, $45. . Prinevllie. though hit hard by Its re cent conflagration, may be counted1 on to come back strong, according to Will Wurzweiler, president of the First Na tional bank of that town, a Portland visitor yesterday. One of the most un fortunate features of the fire was the fact that no insurance was carried on the hotel and one or two other structures. Conditions In the livestock -industry are showing such marked, Improvement as to be a big help to the Prinevllie district. This change for the better has been anx iously awaited, said Mr. Wurxweller, since -his town and ' district depend strongly on this industry for their pros perity. Walter Brown, head of the foreign exchange department of the -Northwestern National bank, was one of the small group oi: men rrom the northwest who attended the big foreign trade conference held in Philadelphia. He arrived home Sunday night. J. W. Robinson of Boise, Idaho. wo had been secretary of the Idaho State Bankers 'association for nearlv ten years until declining re-election laot week, came through Portland on his return trip from the Idaho and- Washington bankers" (Conventions.. Mr. RoMnson is now out of the banking business. L. J. Merrill, cashifcr of the Mooter Valley bank at Mosler. vidted -with banker friends In Portland yesterday. Fruit -and other crop twospecta m hie ' district are fine, the visitor reported. M. S. Woodcock, -president of the First Ntatlona.1 at Corvallis. exchanged greet ings with officers of the Ladd & Tilton bank while tn the city on a business mis sion yesterday. Crops In the lone terrltorv could nariTlT be in better Shane, according to C R. Gunzel, cashier of the Bank of Tone, who wag a caller at the Northwjfteim x-o- tlonal yesterday. - Tn Portlmirt to Took fi 4T,t-.a4. Moody's Investors' Service, Arthur V. Brown of Los Angeles arrived yester dav. He is -Pacific coast renresent.ti o fthls Inmortnnt organization. He plans to spend ten dsvs bere. Cotton Market. NEW YORK, June 12. Cotton future. opened easy; July, $22.15; Oct., $21 90; Dec, $21.68; Jan., $21.48; March, $21.40. Cotton futures closed barely steady; July, $21.63; Oct., $21.48; Dec., $21.24 Jan., $21; March, $20.92. frpot cotton, quiet: middling. $22. 1 5. Oregon Banking and Bond News. Bankers of the' east "are now vie-wlntr tiling In optimistic spirit and see many factors that influence them toward sach an attitude, reported Edar H. SenaeniA, vice-president of the Northwestern Na ttocal bank, who arrived home Sunday from a rather exten ded trl p. an d wee back at his desk yesterday. It Is hard to na?n an industry which is not making a better showin than it was a year aeo. he found, this beinj particularly true of the big key Industries, such as steel and Loner Term Municipal Bonds Yr6 'Yield. Lane County, Or., A C.TLC! 5 due 1933-46. . . t0tl 0 Madison County, Idaho, s. d. 27-6s. r rnr Due 1926-41 003 JO Payette County, - tpf Idaho, Hhgys. 6s to. . . .0 0 Phone, call or write for full data. LUMBEEMENS Broadway and Oak.