2
THE MORNING OREGONIAN, WEDNESDAY, JUNE 21, 1922 '
HEAT HIGHER BUT
Till IS LIGHT
Crop Conditions Are Lead
ing Factor at This Time..
EUROPE IS INTERESTED
Export Business Expected to As
sume Larger Proportions if Mar
ket Kecovery Is Permanent.
Grain men felt more encouraged yes
terday when the eastern wheat markets
rallied and a little more trading was
reported here and in the country, but the
total volume of business was not large.
Export club was worth about $1.15 to
Sl.lS1,. Farmers will not consider less
than $1 net ror new wheat, and, this
price is not being offered now.
Less satisfactory crop reports in the
east and Canada and some export busi
ness brought the day's recovery in the
market, It Is conceded that Europe
will need much American wheat before
the new crop is 'available, but the for
eigners held off from buying while prices
were inclined to go' down. Now that the
market has steadied they are disposed to
. make purchases and this buying will
naturally add to the strength of the
market. The real governing factor,
however, will be the extent of the new
crop In the United States.
All wheat bids at the Merchants Ex
change were 1 cent higher than Monday.
Little interest was shown in coarse
grains.
Grain bags were quiet and the market
had a weak undertone with 10 cents
nominally Quoted. Late cables from India
reported May shipments of burlaps to
the United States at 78,800,000 yards, of
which 71,200,000 yards went to 'Atlantic
ports and 7,600,000 yards went to Pacific
coast ports. Another cable placed May
shipments at 75,000,000 yards, of which
67,500,000 yards came to the east coast
and 7,500,000 yards to the Pacific coast.
The daily Chicago wire to the Gray
Rosenbaum Grain company follows:
"Wheat advance largely due to shorts
covering. Bears become overconfdient
on breaks and with liquidation having
eliminated a lot of weakly held, grain
market in better position to rally. Ex
port demand not Improved. Milling demand-some
better. Nothing in the situ
ation to warrant advance.
Liverpool wheat closed unchanged to
4o higher at 10s 4d for July and 10s
2& for September. Spot Australian
lis 6d, No. 1 Manitoba lis 6d, No. 2
red winter 10s 5d.
Buenos Aires wheat opened 1 cents
lower at $1.14 for August and $1.15
for September. The demand for wheat
was slow.
Terminal receipts; In cars, were re
ported by the Merchants Exchange as
follows:
Portland Wht. Brly. Ftr. Oats Hay
Tuesday 4 2 1 4
Tearago 123 2 2 3 1
Season to date. 28,748 278 2208 381 2080
Tearago 20,532 804 1137 620 2476
Ta.ro mar-
Monday R .. . 2
Tearago 27 .. 2 1 ..
Season to date. 10,151 98 1385 192 851
Tear ago 5,002 64 1062 193 960
Seattle
Monday ...... 27 8 4 3
Tear ago 28 . . 5 5 5
Season to date. 8,679 184 2111 401 179R
Tearago 4,731 230 632 511 1527
SOUTHERN BUTTER MAKE LIGHTER.
Coast Markets Are on firm Basis East
Is Steady.
Xhie to the large numbers of convention
vlaitors in. San Francisco the past week,
demand for butter was unusually strong.
Prices advanced with the active trading
and although receipts from outside the
state were heavier, consumptive demand
was sufficient to keep trading stocks well
cleaned up. The price of 92-score butter
mounted lo from Friday to Friday and
during the past four weeks registered a
gain of 44 c From April 4 the low point
In prices, there has been an advance of
5c. While some dealers continue to pre
dict lower prices in July, the market con
tinues firm and no doubt production is
gradually declining with the advance of
the season. Los Angeles is still short of
92-Bcore butter and above, and that mar
ket closed Friday at 40c. Storage hold
ings at the large markets on the Pacifio
coast now are 229,831 pounds more than
last year.
The eastern markets were typical of
previous weeks during the month. A
glance backward shows that the prices of
were approximately a follows as an aver
age; Chicago 350, New York 86c, Bos-
ton and Philadelphia S6V4c Every time
the markets advanced above this basis
they became easy, and as soon as a de
cline was registered, more strength be
came apparent. All month. Including
the past week, there were only minor
price changes. This Indicates a very
constant relation between the supply and
demand. ,
Early In the month a large proportion
of the trade felt that prices were too
high, but at that time receipts were also
lighter. Later, after prices had held
fairly steady and demand continued good
enough to keep stocks moving, more buy
ers came In for their needs of June
storage butter, which took care o,f the
heavier receipts. The markets have been
remarkably steady without any real
signs of weakness. Production and re
ceipts are heavier than last year, but the
Into storage movement Is also heavier,
cutting down the shortage in the hold
ings under last year. Quality generally
Is running good but some of the usually
fine'marks are off flavor to some extent.
Summery, oily and fishy flavors are most
prevalent.
EGO QUALITY IS DETERIORATING
Surplus Stocks Still Going Into Storage
Poultry Supply Larger.
Live poultry continues to ' move In
large volume, which has caused lower
prices for both live and dressed fowls
in the large consuming markets. Pros
pects are for a continued good move
ment during the remainder of June,
- says the produce review of Swift & Co.
A T I .- - .. V. ' 1 .
broiler sizes are arriving in the consum
ing markets in larger quantities and as
a consequence the selling priceB have
worked to a lower level. The general
impression seems to be that the number
; or young chickens raised this year Is
very neavy and from now on will move
In larger quantities each week.
Hot weather is causing further de
terioration in quality of eggs, which are
moving In normal quantities for the sea
son of the year. The demand Is not as
good as It should be and eggs are still
going Into storage in liberal Quantities.
Demand at the present time Is for eggs
of fine quality and the producers can
help this situation considerably by gath
ering their eggs once or twice each
day, keeping them in cool places and
marketing them several times each week.
Production of butter Is now about at
the high point, but as there is good de
. mand both for Immediate use and for
storage purposes, the market continues
on a high level. If present hot weather
VEAL
MARKET VERY FIRM.
IMMEDIATELY.
SHIP
THE SAVINAR CO., INC.
100 Front Street, Portland, Oregon.
continues, especially without rain, It will
have considerable effect en the pastures,
which will mean decreased production.
Cube Butter Sells WelL
The local demand for butter was good
and the market was on a llrra basis,
with the best cubes selling at 35 cents.
Eggs were generally steady. There
was a fair demand and the supply of
henneries was not large. -
Poultry and dressed meats were quiet
at unchanged prices. v
Cantaloupes Are Reduced.
Several cars of cantaloupes were re
ceived yesterday and prices were fur
ther reduced, standards selling at $4.75,
ponies at $4.50 and flats at $2.25. Local
demand was better.
Watermelons were offered at 4B
cents a pound and were slow sales.. ,
Bank Clearings. .
Bank clearings of the northwestern
cities yesterday were ae follows:
Portland $ 6.S18.82V $1,458,386
Seattle - 6,016,428 1,74U.048
Spokane . . . 1,531,102 496.762
Tacoma. ........ Transactions 3,202,000
PORTLAND MARKET, QUOTATIONS
Grain, Flour, Feed, Etc.
Merchants' Exchange, noon session:
-Bid-
June July
-nn
Aue.
Hard .white....
Soft white
White club ....
Hard winter
Nor. spring ...
Red Walla
. Oats
No. 2 white Fd.
No. 2 gray. ....
... 1.15 $ 1.14
$ 1.09
1.09
1.09
1.09
1.09
1.03
27.00
26.00
1.14
1.14
1.14
1.14 '
1.09
33.50
32.00
1.09
1.09
1.09 -1.03
85.50
32.00
Corn
No. 2 B. Y. shlpm't 29.00
29.00
29.00
FLOUR Family patents, J8 per bbl.;
whole wheat, 7; graham, $6.80; bakers'
hard wheat, $7.80; bakers' bluestera pat
ents, $7.60; valley soft wheat, $6.25;
straights. $6.33.
MILLFEED Price f. o. b. mill: Mill
run, ton lots, $35; middlings, $41; rolled
barley, $3U38: rolled oats, $43; scratch
feed, $50 per ton.
CORN White, $35; cracked, $3T.
HAY Buying price, f. o. b. Portland.
Alfalfa, new, $14.5013.50 per ton; cheat,
$15016; oats and vetch, $14; clover, $17;
valley timothv, $18; eastern Oregon
timothy, $21 22.
Butter and Country Produce-, '
BUTTER Cubes, extra, 35o per lb.;
parchment, wrapped, box lots, 40c; car
tons, 41c. Butterfat, buying price, . No.
tfgrade, 41c delivered Portland.
EGGS Buying price, current receipts,
20 21c dozen; hepneries, 23(3) 24c dozen;
Jobbing prices, case count, 2122c;
candled ranch, 25c; selects. ' 27c.
CHEESE Tillamook triplets, - price to
Jobbers, f. o. b. Tillamook, 23c; Young
Americas, 24c pound.
POULTRY Hens, 1622e; broilers,
17 25c; ducks, 20 25c; geese, nominal;
turkeys, live, nominal; dressed, 40c.
VEAL Fancy, 1212c per pound.
PORK Fancy, 15o per pound.
Fruits and Vegetables.
Local jobbing quotations:
FRUITS granges, Valencia, $6,509
9.75 box; lemons, $7.509; grapefruit,
$511.50 box: bananas. 910c pound;
apples, $1.502 per box; strawberries,
Oregon,$1.502 per crate; cantaloupes,
$2. 26 4.75 per crate; cherries. 10 25c
pound; gooseberries, 78c per pound;
peaches, $22.25 per box; watermelons,
45o pound.
POTATOES Oregon, $1.251.80 per
100 pounds; new California, 45c per
pound; sweet potatoes, eastern, $1.75 pel
crate.
ONIONS Crystal wax, $1.75 per crate;
Calif ornia red, $2.25 per sack; yellow,
$2.75 per sack. s
VEGETABLES Cabbage, 454e pel
pound; lettuce, $2.502.75. crate; garlic,
10 15c per pound; green peppers, 25c
per pound; tomatoes, $33.50 per crate;
cucumbers, $1.252.50 box; rhubarb, 3
4o per pound; spinach, 78c per pound;
asparagus, $1.752 per dozen; green
peas, oSpl2c pound; beans, 1518o per
pound.
Staple Groceries.
Local lobbing quotations:
SUGAR (sack- basis) Cane, granulat
ea, e.woc pound; beet, .70c per pound.
NUTS Walnuts, 1535c per pound;
Brazil nuts. nldc; almonds, 21V4
26c; peanuts, 10 11c per pound.
RICE Blue Rose, 6.456.75 perpound;
Japan style, 6.106.25c per pound.
COFFEE Roasted, bulk, in drums,
2036V4o per pound.
SALT Granulated, bales. $3.254.05;
nan grouna, ton, ous, 117; lous, JItJ.
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, 88c; large,
white, 6c; pink, 5?4c; bayo, 6&c; red,
5toc; ilma, 11c per pound.
Provisions.
Local jobbing quotations:
HAMS All sizes, 3639c; skinned,
34 41c: picnic, 18c; cottage roll, 25c.
BACON Fancy, 39 45c; choice, 30
34c; standards, 2527c.1
LARD Pure, tierces, 15c pound; com
pressed, tierces, 14 c
DRY SALT Backs, 1922c; plates,
ITe.
Hides, Hops, Etc.
HIDES Salt hides, 5c; salt bulls, 4c;
green bulls, lc less; grubby hides and
bulls, lo less; salt calf, 10c; salt kip,
7c; salt horso bides, $12 each; dry
horse hides, 50c$l each; dry hides, 10c;
dry cull hides, half pries.
PELTS Dry pelts, 17c; dry short
wool j.elts, half price; salt pelts, full
wool, April take-off, $1.251.75 each;
dry goat skins, 12c (long halrl.
TALLOW No. 1, 4c; No. 2 3c per
pound; tank tallow, 2&c per pound.
CASCARA BARK New peel, 5o per
pound; old peel, 6c per pound.
OREGON GRAPE Grape root, 5c per
pound. ,
HOPS 1921 cropXflorninaL 1214cper
pouna; coniracis, .lac.
WOOL Eastern Oregon. 26 39c r,er
pound; valley wool, 20 36c.
juuivik iong staple. 3233e: deliv
ered Portland; carding, 28c; burry, 20o
per pound.
GRAIN BAGS Car lots, lOo, coast
Oils.
LINSEED OIL Raw, in barrels, $1.10;
6-gallon cans, $1.25; boiled, in barrels!
$1.12; 5-gallon cans, $1.27.
TURPENTINE In drums, tl.40: five.
gallon cans, $1.55.
WHITE LEAD 100-pound kegs, 12c
per pound.
GASOLINE Tank wagons and iron
barrels, 26c; cases, 38 He.
tumber.
The followine are direrr niintci,,... ....
("Douglas fir and represent annrnn j-oiv
prevailing i. o. u. mm prices in carlols
and are based on orders that have been
nesoiiaLeu. Pre-
vajiine
Flooring High. Low. price
1x4 No. 2 VG $52.00 $48.00 $49.00
1x4 No. 3 VG 41.00 30.00 40.00
IX INO. 2 Sc JB, Sli. . 30.00 34.00
1x6 No. 2 & B, SO . . 39.00 36.00
Stepping
85.00
No. 2 & B 65.00
Finish No. 2 and better
1x8 10-inch 68.00
Casing and base .... 63.00
Ceiling
94x4 No. 2&B 85.00
1x4 No. 2 & B 86.00
1x4 No. 3 81.00
Drop siding
1x6 No. 2 & B 38.00
lxC No. 3 '. 33.50
Boards and S L No. 1
lx8-10-inch SIS ... 17.50
lxl2-inch 18.00
Dimension No. 1
2x4 12--4S&E 18.50
62.00
53.00
60.00
31.00
31.00
26.00
35.00
28.50
11.50
14.00
63.00
85.00
36.00
38.00
15.50
12.50 15.50
Planks and small timbers
4x4 12-16 3 4 S . 21.50, 16.50
8x10-12 12-16 S 4 S . 20.00 18.00
19.50
Timbers 62 feet and under
6x6-8x10 8 4 8 24.00 19.00- .....
Seattle Grain Market.
SEATTLE, June 20. Wheat, hard
white, hard red winter, $1.14; soft white,
white club, soft red winter, northern
spring, $1.13; eastern red Walla, $116;
Big Bend blueseem, $1.25.
Hay and feed, unchanged.
Washington Conference Called.
OLTMPIA, Wash., June 20. fSne-
cial.) W. J. Hayes, director of
business control, today called a
conference of all superintendents of
state institutions with representa
tives of the state purchasing divi
sion and his department to be held
at Walla Walla July 10. The funda
mental reason for the conference,
Mr. Hayes says, Js to allow the
superintendents of the different in
stitutions to review the industrial
work that la being carried on at
the state penitentiary "and also- to
decide upon a standard specification
for the manufacture of different
articles of wearing apparel and
shoes for inmates of state institu
tions. Read The Oregonian classified ads.
MARKET IN BONDS
FliJi BUOYANT
Shorts Caught in Most""Un
comfortable Position.
RISES ARE SPECTACULAR
Strong Technical Position and Fa
vorable News Developments
Favor New York Market,'
BY MONITOR.
(Copyright by Public Ledger company.
. Published by Arrangement.)
NEW YORK. June 20. (Special.) Fa
vored by a strong technical position and
a series of constructive news develop
ments relating directly to the general
-business and financial situation, today's
stock market displayed unmistakable
firmness and buoyancy. Shorts found
themselves in & most uncomfortable posi
tion and their efforts to extricate them
selves were responsible for spectacular
r rise in such issues as Mexican Petrol
eum, Studeoaker, Crucible Gulf States,
Steel, United States Industrial Alcohol,
Lackawanna eteel, U. 6. Rubber, Burns
Bros., Republic Iron & Steel and a King
list of specialties.
"'
Those who had hastily come to the
conclusion that the advance in .the mar
ket had discounted all that was favor
able In the situation were hardly pre
pared to withstand the stimulating ef
fect of such developments as the decision
to postpone action on the bonus bill for
the present, the impressive figures on
car loadings, which show a substantial
gain in traffic overa wide area, and the
big equipment orders now being placed,
with the prospect of more to come.
Aside from the sharp advances that took
place in the oversold oils, steels, equip
ments and motors, a strong upward
movement in the rails furnished the
leading market feature. For the first
time in weeks the rails were active and
firm.
The technical position had been
strengthened by recent liquidation and
short selling prompted by fears of a
decline in the event of a railroad strike.
Recent traffic returns have been most
encouraging and the declaration by the
Great Northern railway directors of a
semi-annual dividend of 3 per cent on
the preferred stock appeared to be the
only thing needed to set the group in
motion. Great Northern advanced more
than four points, and good advances were
scored by Northern Pacific, St. Paul
preferred, Pittsburg & West Virginia,
Union Pacific, Chesapeake & Ohio, Le
high Valley and numerous others.
Acttvfty In the steel Industry is be
coming Intensive. Chicago reports mill
deliveries so far behind that producers
refuse to make promises except on a
few products. Some mills In the Youngs
town district are working close to 100
per cent capacity.
The sharp recovery in foreign ex
changes may be set down largely to
short coverings. London was reportea
as a heavy buyer here. Confidence in
the market situation has been so largely
restored that it Drobabiy would require
some adverse demands of a striking
character to cause a return of last
week's reaction and hesitation.
Mexican Petroleum was. again the
feature of the day. and the drive car
ried the market to 171 before the
position became, easier. Loaning rates
were flat to 1.32 per cent premium with
stock scarce.
Mexican Petroleum and Pan-Ameri
can should issue their reports this com
ing Friday or the following Monday. It
is generally exnected that Mexican
Petroleum will show earnings for the
year of $25 a share on the common as
compared to $20.50 in 1920 and $14.75
With the stock makinjr new high for
year each day. traders are looking back
Into the flies for past performances.
These records show yesterday's high as
the years high; iast years low:
record high for all time 264 in 1919 and
record low for all time 41 In 1913.
e
Call money again eased off In the late
trading, closing at 2 per cent with
little change in the local situation.
Corn Products took its place with the
industrials, which are recovering sharp
ly and sold up to 105 today, new buy
ing being based on the good earning
record of the company. At the present
time the company is operating about 60
per cent of capacity and exDects to re
open the Edgewater plant early next
month. During the first quarter Corn
Products earned $3.47 per share on the
common and present earnings are run
ning well In excess of $1.50 dividend re
quirements.
Directors of Great Northern declared
the regular semi-annual dividend on the
stock today, . this action bringing In
very good buying movement which car
ried the issue up 4 points. Great
Northern is looking forward - to a good
improvement in lumber, ore and crop
movements. However, the road will suf
fer in one respect as most of its heavy
traffic will come after July 1 and there
fore come under the lower rate schedule.
Buying: of American ice today was of
the same sort that has preceded other
directors' meetings this year and was
based on hopes of an extra disbursement
to be declared at the June 27 meeting,
Current strength in the oils is based
on some thing more than speculative ac
tivity, as recent reports from the gaso
line markets have been mora bullish.
May is usually a month of excess con
sumption, as the trade is Inclined to draw
heavily on stocks in addition to the
strong summer demand for motor use.
.
Mexican envoys and American oil
leaders are in close conference in New
York city at present with the future of
the oil industry in Mexico as the sub
ject. No announcement has been made
as yet although experts of the commis
sion were busy on figures late this aft
ernoon. Harry F. Sinclair has not at
tended the meetings as yet, as he iB
making- an inspection trip to the Teapot
Dome field.
Oregon Banking and Bond
News, '
Local bond houses will participate in
the sale of the 25,000,000 New York
Central 5 per cent equipment bond is
sue, which will bo made today by J. P.
Morgan & Co. The securities will ma
ture serially from one to 15 years. The
money obtained will be used for the
purchase of new equipment for the road.
The New York; Lackawanna & West
ern railroad has applied for permission
to Issue J30.000.000 worth of 5 per cent
bonds. These, if approved, will be secured
by the Delaware, Lackawanna & West
ern. . . '
After having passed several weeks ac
quainting himself with. his new position
of assistant vice-president of the Anglo
& London-Paris National Bank 'of San
Francisco, Luke Goodrich Is back in
Oregon looking after the interests of
nis financial institution. He was former
ly vice-president of the First National
Bank of Eugene, but resigned recently to
take the position he now hold.8 In San
Francisco. He visited with the local
bankers yesterday.
A ready sale for irrigation bonds was
found yesterday when G. E. Miller &
Co. offered $223,000 6 per cent Toole
county (Montana), irrigation district
funding bonds, Practically the entire is
sue was sold during the day. Freeman,
Smith & Camp also announced the sale
of practically the. entire issue of the
Logan (Colorado), irrigation district
bonds.
. .
After having passed a vacation in the
banta Clara valley of California, Will
iam D. Stubbs, assistant to the presi
dent of the Northwestern National bank,
is back on the job again. . "The parts
of California that I visited never were
in better shape," declared Mrj Stubbs.
"Crops are good and there is no com
plaint regarding the prospects for finan
cial improvement."
Bond dealers of the 'entire country are
expeotlng July to be- a big- month, c-
cording to Clayton D. Quaw of the firm
of W. H. Quaw & Co., New York, who
was in Portland yesterday.
"We are looking for a stronger market
than we b.ave found in months," he said.
"July always is fairly good, but we
expect it to be abeve the average this
rear." .
Having beard so much about the Port
land Rose Festival Miss Agness Qulnn
and Miss Catherine O'Hearn, employes of
the O'd National Bank of Spokane, are
spending their vacation here. They had
letters from their employers te C.
Bammons, assistant cashier and one of
the few bachelor officials of the United
States National bank.
m Fishing is good and the ideal place for
a man to spend his vacation is around
Metolius, aocording to B. O. Banders,
assistant cashier of the Cltliens' State
aunx oi Metolius, who was In Portland
yesterday. He came here to attend to
business for his institution, but inci
dentally is taking in the Rose Fes
tival. A. L. Tucker, vice-president of the
United States National bank, closed bis
desk for a two-weeks' period last night
and has departed for Hayden lake, Idaho.
-tie lett the city equipped with fishing
lacaie, paining suit and all that goes
to make a vacation successful.
Blyth, Witter & Co. is offering for sale
an Issue of $750,000 fl per cent cumu-
Vianvv jircicrreu block oi , xne jracitio
Telephone & Telegraph Co. The securi
ties win be sold at bS.
.
Miss Ruth A. Fry, assistant cashier of
the First National Bank of Lebanon, Is
visiting in Portland. Yesterday morning
she called on banking connections.
DRY WEATHER IN CIDH
WHEAT CROP SUFFERING
FROM LACK OF RAIX.
Unfavorable Reports of Domestic
Conditions Also Aid in Giv
ing Market Upturn.
CHICAGO, June 20. Dry weather
complaints from Canada -and from some
sections west of here had considerable
to do today with brining about an ad
vance in the price cf wheat. The mar
ket closed unsettled, 2o to 2o net
hlgrher with July, fl.12 to ll2 and
September $1.13U to $1.13. Corn sained
c to lc and oats o to c In pro
visions the outcome was unchanged to a
Probable deterioration from lack of
rain formed the outstanding feature of
wheat reports from Canada and led to a
good deal of buying near the end of the
session in the wheat market. At the
same time talk was current that parts of
.Nebraska and other states needed ram
and that the expected yield of winter
wheat in such relatively dry territory
had -been diminished to & material ex
tent by recent extreme heat. Earlier in
the day, an upturn in wheat quotations
at Liverpool and in sterling exchange
proved .helpful to the bull aide of the
market here.
Some improvement in domestic flour
trade was noted and the seaboard ad
vised of 500,000 bushels of wheat worked
for export.
Corn and oats were mainly influenced
by the action of wheat. Good demand
for corn for export was said to prevail
at the seaboard.
Provisions averaged a little higher in
line with hogs.
The Chicago grain letter received yes
terday by the Overbeck & Cooke com
pany of Portland follows:
, Wheat. It was very evident early in
the day that the bear news which has
been bo predominant of late has pretty
well spent its force and that the market
is now vulnerable to any change in the
general run of news. Tne buying was
more impressive than for several days,
seemingly based on the idea that an im
proved demand for cash wheat is im
pending and also that the final out-turn
of winter and spring wheat will be less
than the June 1 forecast. Receipts in
the southwest continue liberal, but the
demand today was better and prices
higher. The Minneapolis market also
was steady, except for some of the lower
grains. Export news was mixed and
cables reported generally disappointing,
although sales for day were estimated at
500,000 bushels. It is to be expected that
the market from now on will be more
susceptible to bull than to bear news.
Corn. There was good demand for
corn "both in the pit and cash depart
ment, and closing prices 'were the best
of the day. 'A significant feature la that
pressure 'Is steadily diminishing, while
Interest on the buying side is gradually
reviving with sentiment favoring higher
prices. Receipts were smaller and coun
try offerings to arrive light. Crop re
ports to date have been generally favor
able. We look for higher prices to ob
tain before very long.
Oats. Trade today was in good pro
portions, with the market displaying a
decided upward" tendency, influenced In
large part by very discouraging crop re
ports from all parts of the belt. Re
ceipts were small and the cash market
firm. Country offerings to arrive light.
There is plenty of room and excellent
foundation for a good advance from
present values.
Rye. Followed the advance of wheat
to a moderate extent, featured by ex
changing between July and September.
Cash. was relatively steady at ft cent
over July for No. 2 track. The sea
board rep-M-ted export demand slow.
Leading futures ranged as follows:
Wheat Open. High. Low. Close.
July ... 1.10 1.12 3.104 1.12
Sept. .. 1.10
Dec. ... 1.14
Corn
1.13 1.10 1.13
"1.16 1.14 1.10
.Tuly ...
Sept. . .
Dec. . . .
Oats
.62
.")
.65 "
.3S
.37
.404
.65
.64
.34
.36
.39
..-.
05
J35
.87
.40
July
.84
.365, ,
.39
ept. .
Dec. ..
Lard-
July ... 11.50 ' 11.55 11.45
Sept. .. 11.80 11.85 11.73
11.R0
11.77
Hi OS -
July ...
Sept . ......
12.37
12.22
( ash prices were as follows:
Wheat Sample grade, hard, $1.11; No.
2 northern dark, $1.24.
Corn No. 2 mixed, 6161c; No. 2
yenow, oi(B1ec.
Oats No. 2 white, 3538c: No. 3
wnite, 36 e3c.
Rye No. 2. 8686c
Barley 55 62c
Timothy seed $45.50
Cloverseed $12 20.
Cash Grain Markets.
Furnished by Jordan, Wentworth & Co.,
Portland.
MINNEAPOLIS, June 20. Wheat. No.
1 dark hard Montana. $1.2814 (fbl.32 ;
No. 1 dark northern, 1.33 i tcil. 401 : No.
2 dark northern. S1.22U 1.S7U : No. 2
nortnern, ?i.3Ufl.3414 ; No. 8 northern,
t.3m.
Corn No. 2 yellow, 5555c.
Oats No. 2 white, 3233c; No. 3
wnue, ozBazc. -
ST. LOUIS. June 20. Wheat. No. 2
rea, i.j..lpx.j.4.
Corn No. 2 mixed, 60e: No. 2 yellow.
Dlftc; no. 4 wnue, DllO'Dlc.
Oats No. 3 white. 36c.
OMAHA, June 20. Wheat, No. 2 hard.
$1.04.
Corn-' No. 2 white, 64c; No. 2 yellow,
5555e; No. 2 mixed, 54c
Oats No. 2 white, 334c.
KANSAS CITY, June 20. Wheat No
2 red, $1.06; No. 4 red, $1; No. 2 hard!
$1.051.05; No. 3 hard. $1.04115
Corn No. 2 mixed, 56c'; No. 2 yel
low, 68c; No. 3 yellow, 57c; No 2
white, 57c.
Oats No. S white. 35c . ,
DTJLTJTH, June 20. Wheat,
dark northern, $1.334 1.3714 ;
dark northern, $1.24 1.42U
Flai $2.47. ,
No.
No.;
WINNIPEG. June 20.
northern, $1.27.
-Wheat, No. 2
Grain at San Framcisco.
SAN FRANCISCO,' June 20. Wheat
milling, $1.751.80; feed. ?1.75180
Barley Feed. $1.12 1.17V4. Shin
ping, $1.251.35. v
Oats Red feed, $1.401.50.
Corn White Egyptian, $2.12 2 17t4 -red
mtlo, $1.901.95.
Hay Wheat. $1618; fair, $1416;
tame oat. $1518; wild oat, $ll13- al
falfa. $1315; stock, $1012; straw,
nominal.
Minneapolis Wheat Futures. '
MINNEAPOLIS, June 20 Wheat, July.
$1.30H; Sept., $1.20 ; Dec, $1.21. ,
Winnipeg . Wheat Futures.
WINNIPEG, June 20. Wheat. July,
$1.24 Ti; Oct $1.1854; leo., $y5.-
Central Coal and
Coke Company
FIRST MORTGAGE 6 BONDS
These bonds are secured by an absolute first mortgage
on all coal and timber properties now owned or hereafter
acquired by the Central Coal and Coke Co., and Delta
Land and Timber Co., and by pledge of 80 per cent of the
stock of the Oregon American Lumber Company. ,
Value o'f the mortgaged and pledged property as con
servately appraised and estimated is over $26,000,000
The Company, of Which Charles S. Keith is President,
is under the same management that has conducted its
affairs for the past twenty years.
Maturities Price
June 1, 1924-1927........ 100
June 1, 1928-1942........ 99
' Detailed circulars famished upon request.
Blyth. Witter, i. Co.
Fourth and Stark, Portland
San Francisco New York - Seattle
Los Angeles . Chicago San Diego
LAMBS 'REDUCED AGAIN
NIJTE DOLLARS NOW TOP QUO
TATION AT YARDS.
iTearllngs Are Also Lower; Hogs
Slow atBuling Prices Cat
tle Market Steady.
Th. vtri,H nt tbe sheen and lamb
markets continues to be the feature of
thA loral livestock trade. Following the
declines of Monday prices of lambs yere
out again yesterday $1 to $1.50, leaving
the top at $9- Light and heavy year
lings were reduced $1.
Cattle were about steady at Monday's
quotations.
Hogs were unchanged, but were not
any too brisk at the 12-cent top.
Receipts were 26 cattle ana oo nogs.
The day's sales were as iouows:
Wt. Price!
Wt Price
14 Bteers.
1100 $5.76
1 hog. . .
12 hogs. .
2 hogs. .
2 hogs. .
8 hogs. .
1 hog. ..
3 hogs. .
82 lambs.
50 lambs.
23 lambs.
46 lambs
18 lambs.
24 lambs.
13 lambs.
6 lambs.
1 lamb.
7 lambs.
9 lambs.
12 lambs.
12 lambs.
23 lambs.
22 lambs.
4 lambs.
19 lambs.
220 $11.50
184 11.50
120 12.00
167 11.75
180 11.85
230 11.50
283 11.50
75 9.50
73 10.00
64 10.00
70 9.50
18 steerB.
1068
5.75
6.50
6.00
6.00
6.75
6.35
5.00
6.00
6.00
3.65
3.50
8 steers.
1 steer.
1 steer.-
070
1020
1100
2 steers.
5steers.
5 steers.
1 steer..
1 steer..
1 cow.. .
1 cow. . .
3 cows. .
1 cow. ..
2 cows..
1 cow. ..
2 cows..
1 cow. . .
1 cow...
3 cows. .
3 calves
1 calf. .
1 calf. .
980
990
6I
870
630
1080
730
983
1110
740
470
1090
790
1070
910
96
. 220
64
93
64
74
70
68
6.50
9.00
8.00
8.00
8.00
9.75
4.001
5.00
5.25
4.00
3.00!
6.35,
4.00
75
9.50
86 10.00
61 10.00
76 9.25
4.251
8.50
8.001
4.00
4.25
77
9.00
6.00
9.00
9.00
6.00
6.00
3.75
00
77
82
68
52
68
Ibull... 11S0
IThogs. .
5 hogs. .
4 hogs. .
34 hogs. .
3 hogs. .
8 hogs .
5 hogs. .
3 hogs. .
9 hogs6
1 hog...
28 hogs. .
1 hog. . .
53 hogs. .
1 hog. . .
92 hogs. .
24 hogs. .
1 hog. . .
10 hogs. .
68 hogs. .
20 bogs. .
6 hogs. .
177 11.80
156 lambs.
438 8.501
236 11.00
18 lambs.
7 lambs.
59 ewes . .
202 11.25
186 11.60
4 ewes. . 125
7 ewes. . 120
3.00
3.00
6.00
6.00
6.75
5.00
6.00
6.00
3.00
4.00
6.00
170 11.75
104 11.75
130 12.001
182 111.75
510 7.50
217 11.50
201 yearl., 78
6 yearl..
1 wether 150
1 wether 120
1 wether 130
20 mixed. 65
16 mixed. 105
11 cows. . 704
2 cows. . 980
2 cows.. 925
200 8.50
185 11.50
150
228 11.65
147 ll.;
6.50
120 11.75
210 11.05
187 11.85
lhog... 5 20 12.00
8 hogs.. 130 12.00
2 hogs.. 190 11.60
93 hogs.. 192 12.00
6 hogs.. 191 11.75
5 hogs.. 156 11.75
120 11.001
ins n.firt!
z nogs
150 11.60
lllstuers lOOOSO.OO x
Prices quoted at the Portland Union
stockyards were as follows:
Choice hay-fed steers $ 8.25 8.75
Med. to good hay-fed steers. 7.75 8.25
Choice grass steers 7.75 8.25
Medium to good steers 6.75 7.73
Fair to medium steers 6.25 6.75
Common steers 5.00 6.25
Choice cows and heifers 6.25i 6.75
Med. to good cows, heifers. 5.25 6.25
Fair to med. cows, heifers.. 4.25 5.25
Common cows 8.50 4.50
Oanners 2.00 3.50
Bulls 3.(5 oo
Choice dairy calves 8.00 8.50
Prime light calves 7.50W 8.00
Medium light calves 7.00 7.50
Heavy calves 4.50 7.00
Hogs .
Prime light
Smooth heavy, 200-300 lbs.
Smooth heavy, 300 lbs. up.
Rough heavy
Fat pigs
eFeder pigs
Stags, subject to dockage.
11.75 (pi 2.00
11. 00 11.73
10.00 11.00
8.0010.25
' 11.7512.00
11.7512.00
9.00 8.00
eneep
Best spring lambs 8.00P 9.00
Meriltim snrine lambs -. 7.00 8.00
Common soriue lambs 6.00 7.00 I
Cull lambs 5.00 6.00
Ught yearlings 7.0U 8.00
Heavy yearlings ...... 6.00 T.Ot.
Ught wethers 5.00 -6.00
Heavy wethers , 4.00 6.00
Ewes : J!.00 6.00
Chicago Livestock Market.
CHICAGO, June 20. (United States
Bureau of Markets.) Cattle Receipts,
9000 head; better grades matured steers
strong to 50c higher, other grades, and
yearlings slow, steady to weak; top beef
steers $9.75, bulk $S.25-9.15; all other
classes generally steady; bologna bulls,
$4.254.35; early sales veal calves, most
ly $88.50; butcher cows and heifers
mostly $5 7.25; canners and cutters,
$3 4.
Hogs Receipts, 29,000 hea; market
mostly 10c to 15o higher on better grades
of butchers; others glow, weak; big pack
ers bidding lower; top $10.80, bulk $9.80
10.85: pigs steady to 10c higher, mostly
$9.6010.25; heavy weight, $10.4510.55;
medium, $10.60 10.85; light weight,
$10.8010.90; light light, $10.3510.85;
packing sows smooth, $9.15 10; pack
ing sows rough, $S9.25; killing pigs,
S9.25ai0.45.
Sheep Receipts, 10,000; lambs mostly
25c higher; sheep and yearlings steady
to 25c higher; three doubles choice Idaho
lambs, $l3.2a; to out; top natives to
packers, $12.75; to city butchers, $13;
good 84-pound dry fed yearlings, $11.25;
best light fat ewes, $6.50; heavies around
$3.
Kansas City Livestock Market.
KANSAS CITT, Mo., Jifne 20. (United
States Bureau of Markets.) Cattle Re
ceipts, 12,000 head; beef steers steady to
25c lower, mostly juc to 10c lower; early
top $9 for Colorado; best natives held
above $9.25; she stock ' dull and mostly
weak to, 25c lower: bulk cows, $4 5;
few above $5.50; odd prime lot, $6.50
7.25: good heifers, $7.65; canners and
cutters 15c to 25c lower; bulk canners
under $2.50, most cutters, $3.003.75:
bulls steady most bolognas $3.754
calves active and steady, best $7.50S.
Hogs Receipts. 14,000 head; opened
slow, later trading active to both pack
ers and shippers strong to 15c higher;
bulk 175 to 240-pound weight, $10.25
30.40, top $10.45; shippers took about
4000; bulk of sales $10 10.40; throw-out
sows, $S,759; stock pigs about steady;
good kinds. $10.65.
Sheep Receipts. 500O head; sheep nnd
AUSTRALIA
NEW ZEALAND AND SOUTH SEAS
Via Tahiti and Baratonga. Mall and
passenger service from San Francisco
every 28 days. '
Pacific Tour, South Seas, New Zealand.
Australia. $525 First Class.
UNION. S. S. CO. OF NEW ZJAIAND,
230 California. St., San Francisco, or
local teanuhiD and railroad aceaclaa,
breeding ewes steady: lambs 25c to 50c
higher; natives, $12.50; Arizonas. $11.50;
Arizona feeding lambs, $10.
Omaha Livestock Market."
OMAHA, June 20. (United States Bu
reau of Markets.) Hog Receipts, 15.000
head; good hogs steaJv; bulk 200 to 325
pound butobers, $9.90 10.25; top, $10.30;
mixed and packing grades slow, steady
to 10c lower; bulk 230 to 350-pound
weights, $9.5010; packing grades, $8.75
9.50. '
Cattle Receipts f500 ' head: better
grades beef steers steady to 10c higher;
medium and common grades weak to luo
lower; top, $9.30; yearlings, $9.15; she
stock weak to 25c lower; veals, 25 50c
lower; otner classes or stock generally
steady. .
Sheep Receipts, 7000 head; lambs 25o
to 60c higher; bulk natives. $12.25
12.50; best Idahos held at $13.50; year
lings steady; mixed fed yearling lambs.
$10.8511.25; sheep unevenly higher;
heavy ewes. $3.50; light ewes, $5.25;
feeders steady.
San Francisco Livestock Market.
SAN FRANCISCO, June 20. Steers,
No. 1, $6.507! No. "2, $5.25(&6.25; cows
and heifers, No. 1, $4.255; No. 2, $4
4.50; bulls, and stags, $34; calves, light,
$89; heavy, $o7.
Sheep Wethers, $5.507; ewes. $34;
lambs, $10.30 11.50.
Hogs 125 to 200 pounds, $12; 200 to
250 pounds, $11; 250 to 300 pounds, $10.
Seattle Livestock Market.
SEATTLE, Wash., Juno 20. Cattle,
hogs, sheep, steady; no price changes; no
receipts.
Cotton Market.
NBW YORK, .Tune 2ft. Cotton f II -
The Cool, , Clean Breezes
of the Pacific Invite You
When you conje to California, "be sure your ;ticket
is routed to include this delightfully refreshing and
pleasureable , ocean voyage.
a
BETWEEN SAN FRANCISCO and LOS ANGELES
Enjoy the freedom of broad decks and spacious saloons. Dance in
the Indoor ballroom. Listen to radiophone programs. Fill your lungs
with the cool, zestful sea air. .Feast at a well catered table. Sleep
as you never have slept before. f
Tickets, one way and round trip, may be routed
L. A. S. S. Co. between San Francisco and Los Angeles.
Same fare as all rail. Meals and berth extra.
LOS ANGELES STEAMSHIP CO.
SAN FRANCISCO
R. V. Crowder, G.P.A.
685 Market St.
liree Das on the St LaVreace
On Your Trip to Europe
The journey from Montreal down the ever-widening
St. Lawrence holds for the lover of beauty a thousand thrills
that will last forever in the memory.
The Canard-Canadian liners have, betides their hpmrioos appointments
and splendid service, all of the glories of the river trip to offer 7M-
State-rooms have 1, 2, 3 and 4 berths with wardrobes, electric fights,
running water and Steam heat under your own immediate control.
For schedules ef sailings W rates, see the
iaar4 Aaeut vour town, or vents te
iL
621 SECOND AVE., SEATTLE. PHONE ELLIOTT 1632.
""ffTiff T rrT i" , V f, j77, : v,r I. "i 3" "r
- s
t Between Portland. Me., Boston. New York, Philadelphia, Baltimore and San
Diego, Los Angeles, Ma Francisco, Portland, beattle. aucouver, B. C.
NORTH ATLANTIC WESTERN S.S. CO.
- 1 WESTBOUND .
Portland, Me. Boston
1 NEPONSET
WEST ISLETA June 28 July
I OLD HARBOR July 13 July
EASTBOCND
I 8.S. ARTIGAS June 19
S.8. LEHIC.H July
S.S. BRUSH July 20
101 Third St. THE ADMIRAL LINE,
age
: New Orleans i
; Panama Canal i
: Havana, Cuba i
i Kingston, Jamaica i
! Special low fhe !
by rail to New Orleans , thence !
GREAT WHITE FLEET to New York-;
AN ideal way in which to make an eastern trip, combining the
. pleasures of a sea voyage with opportunities for unusual and
interesting sightseeing.
B. Great White Fleet ships are constructed especially for cruise
service in the Caribbean. Only one class firs class. A delight
g ful trip at any season. Full information on request to
a DORSEY B. SMITH AMERICAN EXPRESS CO.
180 Broadway 6th and Oak Stet
ar Patenter Dtpartmtnt
UNITED FRUIT COMPANY
( 321 St. Charles Street, New Orleans,!.
General Offices, 131
tures ' opened- steady. July, 22.90c; Oc
tober, 22.95c: December, 22.70c; Jan
uary, 22.54c; March. 22.37c.
Cotton futures closed barely steady.
July. 22.85c: October, 22.80c; December,
22.60c; January, 22.48c; March. 22.33c.
Spot cotton steady; middling, 23.30c.
Hood Biver Bonds Sold.
HOOD RIVER, Or., June 20. (Special.)
LAdd & Tilton, who today increased
their bid of last night, offering a pre
mium of $1275.75 for $25,000 general city
obligation bonds, by $100, won award of
the issue of the city council. Five other
Portland bond buyers were represented
at last night's meeting, and prevailed on
the council to hold the award open until
today, although I,add & Tilton were high
bidders. Some of the other houses sub
mitted slightly higher bids today, but
the council expressed the sentiment that
in fairness the award should be made to
the pioneer Portland banking firm.
Dried Fruit at New York.
NEW YORK. June 20. Hvaporated ap
ples dull, but steady.
Prunes firm, Californias, 618&c;
Oregons, 6141,4c.
Peaches steady.
0
LOS ANGELES
R. K. Cullen, D.P.A.
617 S. Spring St,
lUUtJ- SERVICE
New York Phlla. Baltimore Charleston
Junel7
1 July 8
lo July 20
FROM PORTLAND
I S.S. W EST ISLETA August
8.S. COLD HARBOR August 18
I S.S. BLUE TRIANGLE Sept. 4
Pacific Coast Agents, Broadway 5481.
State St., Boston, Mats.
Come to Victoria this
summer. Bring your
car. Stay a week-end
or a month. Always
something new, delightful.
It's different. Quaint. Re
freshing. Educational. Gate
way to Island of Thousand
Miles of Wonderland. Mo
toring. Golf. Boating.
Fishing. New scenery. Take
Anacortes-Victoria motor
ferries through Gulf
Islands. Magnificent. No
trouble at Border. Write
Victoria & Island Publicity
Bureau, Victoria, B. C, for
details.
aleals and Berth Included.
STEAMSHIP
Admiral Farragut
Sails from Municipal dork Ifo..
Saturday. June 24, 4 F. M.
For
BAN FRANCISCO
LOS ANOELES
BAN DIEGO
bailings every Saturday
thereafter.
ROUND TRIP
EXCURSION FARES
San Francisco ..IK0.0A
Los Angeles $74.00
San Diego f 81.30
TICKET OFFICE
101 3D ST., COR. STARK.
PHONE BROADWAY 6481,
N. Y.- Plymouth-Havre - Paris
PARIS July 5 Ausr. 2 Aug. 23
FRANCE July 28 Aug. 30 Sep. 20
New York - Havre - Paris
Roussillon ....July 1 Aug. 14 Sep. ID
La Torraine July 1 Sep. 16 Oct. 14
Rochambeau . .July 6
La Savoie ....July 15 Aug. 12 Sep. 0
Chicago .. July 20 Aug. 31 Oct. 5
Lafayette July 22 Aug. ltt Sep. 30
La Tourraine. .Sep. 7 Oct. 11 Dec. J
New York - Vigo - Bordeaux
Niagara Aug. 5 Sep. 12
All sailings by daylight-saving time;
For full details consult the French Line
Agent in your city or write to
COMPANY'S OFFICE.
109 Cherry St.. Seattle. Wash.
Astoria and Way Points
Str. GEORGIAN
5y2 Hours to Astoria
Speedy Clean Safe Comfortable
Lvs, Doily (except Friday) s a. 31.
NIGHT SERVICE
Lvs. Dally (except Sat.), T:30 p. m.
Fare S1.S5 one wsyi S3.00 round trip.
Friday to Monday, round trip !f:i,5
Connections made (or all North
and South beaches at Astoria
Alder-Street Dock Broadnay B34
The Harklns Transportation Co.
Phone Your Want Ads to
The Oregonian
Main 7070 Automatic 560-95
1
i
i a