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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Oct. 11, 1922)
THE 3IORXIXG OREGONIAX. WEDNESDAY, OCTOBER 11, 1922 24 USUAL WINTER GRAIN ACREAGE EXPECTED Fall Plowing General Western Oregon. in SOIL IN FINE CONDITION Eastern Counties Still Iry, but Seeding on Summer Fallow Will Soon Be in Pull Swing. Plowing for winter wheat Is general in western Oregon and the farmers ex pect to have the usual acreage. The late September and early October rains appear to have been quite general over the state, but too light to have been greatly beneficial In the eastern portion of the state, says the monthly crop report issued yesterday by F. L. Kent, agricultural statistician of the department of agriculture. Eastern Ore gon wheat farmers have been ready to need their summer fallow for a month or more, but have waited on account of lack of soil moisture. While the recent rains have not really put the soil in first-class condition for planting, the seeding of winter wheat on sum mar fal low will be In full swing by October 15, since it is not considered advisable to Wer fall seeding much later than that due. Oregon crops Improved somewhat dur ing September, while the condition of crops over the country as a whole de clined to some extent. The early Sep tember rains, followed by fine growing weather, were very helpful to late pota toes, corn, pastures, cabbage, tomatoes. etc. No killing frost to date, except In some of the higher altitudes, has fur ther contributed to the fine fall weather conditions in the western part of the state. The eastern part of the state hap not fared quite so well, however, since the early September rains were lacking and there has been somewhat more frost damage, although not gen eral. In the western part of the state the recent rains have put the soil in ex cellent condition for, potato digging, and this early and mid-season plantings are now being dug. Air. Kent's forecast of production for this season of the principal crops in Oregon and December estimates for last year are as follows: J 112 ' Forecast. Ki.3lK,000 t,J7.VM)0 fancy Jonathans, medium to large, $1.25 1.30, mostly $1.30 ; Winesaps, extra fincy, $1.65; Delicious, extra fancy, $1.9502.25; other districts, Newtowns, extra fancy, medium to large, $1.40; fancy 1.20. Winter apples are being picked in New York. The crop is large but quality low outside of the commercial orchards. Vir ginia apples are going into storage in good condition. Yields are reported to be above expectations in West Virginia. In the middle western' states the apple crop is generally large but under-sized and much damage by scab Is reported. Insufficient transportation facilities are reported from several districts. KGGS SLUMP i:N EASTERN MARKET Supply of Fresh Stock Is Greater Than Demand. Fresh . eggs are fairly plentiful and there, is a good demand for fine stock, says the produce review of Swift & Co. of Chicago. Held stock is not wanted and sells at a discount. . Prices on. fresh eggs dropped 7 cents a dozen In New York during the past week, as the supply was ffre&tr tlian tl'e demand. Poultry receipts were not quite as heavy, with prices practically unchanged. Smaller kinds, such as the Mediterranean breeds, bring less than the larger birds. .Butterfat production is about the sain as a year ago, with a good demand noted from consuming trade. The excess butter in storage on Sep tember 1 has been greatly reduced, and supplies are now pretty close to require ments. The stocks in storage in Chicago, New York, Boston and Philadelphia are now less than a year ago. Extra fail and winter feeding will bring increased returns. Imports of butter are expected to be light on. account of firm and higher mar kets abroad. Eastern Potato Quality Poor. The yield of potatoes is running from poor to good in New tngiana wnn quality about as usual. In New York blight and -"rot have increased rapidly of late. From many sections of the country the crop is reported, as being of Inferior quality. The Michigan crop has suffered some frost damage, and scab damage has been extensive in Illinois and Indiana. prevailing f. o. b. mill prices m carlots and are based on orders that have been negotiated; Pre vailing Flooring- High. low. price. 1x4 No. 2 VG ...... $M.OO $49.00 1x4 No. 3 VG 43.00 1x4 No. 2 & B, SO . 4.V0O 37.00 39.00 1x8 No. 2 & B, SG . 42.0 40.0 Stepping XO. 2 & B 67.00 65.00 Finish No. 2 and better ix8 10-inch 60 00 56.00 66.00 Casing and base ... 63.00 Ceiling x4No.2&B .... 39.00 37.00 1x4 No. 2 &B 39.00 ..... 1x4 No. 3 34.00 Drop siding 1x6 No. 2 & B 41.00 40.00 41.00 1x6 No. 3 SS 50 40.00 41.00 Boards and SL. No. 1 lx8-10-mch SIS. 19 50 19.50 lxl 2-inch 20 00 Dimension No. 1 S & E 2x4 12-14. 18.50 16.50 18.50 Planks and small timbers 4x 4 12-16 S 4 S 22.50 lfl.50 22.50 3x10-12 12-16 a 4 S 24.00 21.00 Timbers 32 fee and under 6x6 8x10 S 4 S 25.00 23.00 Lath Fir ...... 4.50 Oregon Banking and Bond News. if STOCKS DROP IN GOTHAM MARKE I Profit Taking Follows Rise Due to Speculation. IRREGULARITY IS NOTED Winter wheat, bu. Spring whtat, bu. All wheat, bu Oats, bu Barlty. bu Corn, bu Potatoes, bu All hay. Ions .... Hops, lbs Apples, total, bu. . App'es, coni'l., bu. l,i)!)S,000 2.1 12.00(1 4. S 30. (HMI 2.12.S.WI0 !t.60MM!0 .23!U00 3,715,000 1921 Dee. est. 20,862.000 4.764.000 25, 626.000 8,700, U'JO 2.240,000 l,.8O,0OO 3.S70.000 2,544,000 0,840,000 6,H7.0OO 4,975,000 Corn for Mir1 included. WHEAT HUM, AVERAGES HIGHER Advunces In JMillfeed Are Announced by Loral Mills. The wheat market had a firmer tone yesterday and bids on most grades ex cept milling wheat were 1 to 2 cents higher at the Merchants' Exchange. The markets would appear to be at a point near where export business could be worked, but no such business was reported yesterday. Barley continued firm and bids were advanced 50c $1, Other coarse grains vere unchanged. Advances of $1 a ton in millrun and middlnigs and a drop of $1 in scratch feed were announced by local mills yes terday. The Chicago wire to the Gray-Rosen-baum Grain company follows: "Although outside trade continues light, market nevertheless strong. Liv erpool strength and fear of frost north ern Argentina helpful factors. Cash wheat continues in good demand at -stiff premi ums. Receipts of winter wheat light. Canadian farmers offering less freely. Large Canadian increase visible not un expected. Friendly to purchases all breaks." Liverpool wheat closed iff) Id higher at s !Hd for December, 9s 3d for March, and i)s Sid for May. Buenos Aires wheat opened V cent higher at $1.17Vj for October and $1.124 for February. x Broomhall's Liverpool and Argentine cables said: "United Kingdom While the demand for wheat in the United Kingdom can not be considered brisk, there is some inquiry from millers who appear more willing to purchase ahead. Corn re mains firm with only limited shippers' offers in evidence. "Argentina Wheat offerings from this country are not pressing, as supplies of old wheat have gradually been diminish ing. There are only limited amounts of. wheat now coming from interior points and port stocks have dwindled to meager proportions. Offerings of corn from the country are in rather liberal volume and movement from Interior to ports is being maintained." Terminal receipts, in cars, were re ported by the Merchants' Exchange as follows: Portland Wht. Bly.Flr. Crn.Ots.Hy. Tuesday Ml 5 9 13 4 Year ago 138 ..13 9 2 6 Season' to date fl.sr.3 ISO 434 2RI 255 t.8 Year ago 12,731 101 702 140 303 442 T a co ma Monday 78 1ft l .. Year ago !i) fl 4 2 I Season to date 2.241 It 320 13f( AW 100 Year ago 4,4t7 71 472 09 67 lw7 Seattle Monday 91 Year ago 74 Season to date 2.4'! Year ago 2.929 1.0 1.05 1.08 1.01 33.00 32.00 34.50 1.12 1.10 Bank Clearings. Bank clearings of the northwestern cities yesterday were as follows: Clearings. Balances. Portland $r,.9S9,7S9 $1,216,900 Seattle 0,577.000 1,105,166 Spokane 1,604,142 394, 1 85 Tacoma transactions . 3,453,000 PORTLAND MARKET QUOTATIONS Grain. Flour, Feed, Etc, Merchants Exchange, noon session : October. November. Wheat Bid. Ask. Bid- As!: Fluestem Baart ..$1.20 .... 51.20 $1.25 Soft white 1.10 1.09 Western white 1.10 1.13 Hard winter 1.08 1.11 Northern Spring .. 1.00 .... Western red 1.05 .... Oats No.2 3tf-lb. naturals 33.00 3K-lb. Clips 32.00 38-lb 34.00 Barley 44-lb. minimum 30.00 30.50 40-lb. minimum.. 30.00 32.00 30.00 32.00 Corn No. 2 K Y shipmt 30.25 31.00 30.00 31.50 Millrun 20.00 25.00 FLOUR Family 'patents, $7.00 per barrel : whole wheat, J6.120; graham, 50; bakers' hard wheat, new. $0.50, bakers' blucstem patents, new, $6.75; valley bak ers'. $5.90. MILLFEED Pries f. o. b. mill: Mill run, ton lots, $28; middlings, $40; rolled barley, $3tja3S; rolled oats. $42; scratch feed, $43 per ton. CuHIs White. $36; cracked. $38 per ton. HAY Buying prices, f. o. b. Portland: Alfalfa, $18 18.50 per ton; cheat, $15; oats and vetch, $20; clover, $18; valley timothy, $20; eastern Oregon timothy, (20tt21. S 6 1 13 2 13 li 2 27 fi 703 393 176 419 83 674 301 205 532 BI TTER IS SHIPPED TO CALIFORNIA EgS Prices May Be at Top for Season. Poultry Demand Fair. A full car of butter together with smaller shipments were sent to California yesterday, which took most or the sur plus off the market. Cub extras hela firm at 45 cents, but there was only a moderate local demand for them. Kggs were steady on the basis wc 50 cents for fresh selects and 35 cents for white storage. A slight increase in re ceipts of country eggs indicates that the moulting season is drawing to an end. There was a fair demand for poultry at steady prices. Country dressed veal continued very weak with but little demand. ArrLE SALES IN COUNTRY LIGHT in Winter Crop Now Being Harvested Eastern States. There was no change in the local apple situation. Stocks were liberal and the demand slow. Business at interior shipping points was limited. The latest carlot sales reported were: Yakima extra fancy Jonathans, medium to Urge, $1.35; Delicious, extra fancy, $2.100 2,15: Wtnesaps, extra fancy, small to large. $1 3,: Wenatchee extra Comb Honey WANTED. Any Quantity. Ship or Lrt Tm Quote You. THE SAVINAR CO., INC. 100 Front Street, Portland, Oregon. Butter and Country Produce, BUTTER Cubes, extras. 45c pound; prints, parchment wrapped, box lots, 48c; cartons. 40c. Butterfat. 48c, delivered station; buying price, A grade, 43c. KGGS Buying price. Current receipts, 59c per dozen; henneries - 4oc per dozen. Jobbing prices: Front street, can dled ranch, 48c; selects, 50c; Association, selects, 50c; firsts, 48c; pullets, 42c. CHEESK Tillamook, triplets, price to jobbers, f. o. b. Tillamook, 28c; Young Americas. 20c; longhoins, 20c pound. POULTRY Hens. 13 23c lb.; springs, 21 & 22c; ducks 15 23c; geese. 15 UOc; turkeys, live, 30 33c; dressed, choice, 45 cents. ' - - VEAL Fancy, 14c per pound. PUHK Fancy, 15fec per pound. Fruits and Vegetables. Local Jobbing quotations. FRUITS Oranges, Valencia, $4.75 11 per box; lemons, $7 10.50; grapefruit, $ti.505 10 box; bananas, Ut-j, S10c lb.; canteioupes, $1. 7542,50 'per crate; peaches, 75c$1.25 per box; watermelons, 1 va 2 c per lb. ; casabas, 'Zw 3c lb. ; pears, $1.75., grapes. $23.75 per box, 18&20G basket; prunes, 34c lb.; apples, $14$ 2 per box; cranberries, $5.50 per box. POTATOES Oregon, 90c $1.25 oer sack; Yakima, $1.-10 1.50 per sack; swcei potatoes, dht'SP-io per lb. ONIONS Oregon. $1.25 1.50 per sack. VEGETABLES Cauba.ge, 1H-C per pound ; lettuce, $1. 50 2.00 per crate; garlic, l&JOC pound; green peppers. 57c per pound; tomatoes. 30 40c per crate; cucumbers, 3do0c per box; green corn. iJtff-iuc dozen; eggplant, bitfluff pound; Hubbard squash, 3c per pound; beets, $1.75 per sacs; turnips. z per Back; cauliflower, 059lc dozen; cel ery, 50a$l.ld dozen. Staple Groceries. Local Jobbing Quotations: SUGAR (sack basis) Cane, granulated. 7.50c pound; beet, 7.30c per pound. NUTS Walnuts, la,ioc per pound: Brazil nuts, 13 16c; almonds, ltJft 28c; peanuts, 8fe9c per pound. RICE Blue Rose, 7c per pound; Japan style, 6.106.vc per pound. COFFEE KcAstea, oulK., in drums, 20 394c per pound. SALT Granlatod, bales. $ 2. 60 3. 65 : half ground, tons. 50s. $17; 100s, $18. DB1EO uus uates, i4c pound; figs, $l.tt02..5 per box; apples, 1.13c per pound; peacnes, loc; prunes, 14itc; Apricots. 23032c. BEANS Small white, 6c; pink, 5c; red, 5c; lima. 92.lc per pound. HON E y $404.50 per case. Provision, Locai Jobbing quotations: HAMS All sizes. 2731o per pound; skinned. 31c; picnic, 19c; cottags roll, Z8c per pound. BACON Fancy. 8f46c; choice, 28tr 35c; standards, 27 28c. LARD Pure, tierces. 16c per pound. DRY SALT BACKS 2G23c; plates, 18 cents. Hides, Hops, Etc. HIDES Saltea hides, all wefghts, 12c; green bides, all weights, 10c; salted bulls, 9c; green bulls. 8c; .salted or green calf. 17c: salted or green kip, 14c; hair siipped hides and ekins half price; flint dry bides, 16c; flint dry calf and kip. 16c; dry salted hides, 12c; culls and damaged, half price; green or sailed horse hides, each $23; colt skin, each 60c $1; dry horee, each, 75c $1.25, with mane and tail on. SHEEP PELTS Dry sheep pelts, long wool, 21c; dry sneep pelts, ehort wool, lOc; dry sheep pelts, pieces, lOc; dry shearlings, each, 5(g 25c; salted pelts; long wool. $1 1.50 each; salted pelts, short wool. 75c $1.25 each; salted shearlings, 10 50c ; salted goats, long hair. $1! each; salted goats, short hair, 60c$l; dry goats, long hair, per lb., 15c; dry goats, short hair, each, 23 50c; goat shearlings, each. 10 20c TALLOW No. 1. 55c; No. 2. 4HO 5c per pound; grease. 3 Vs "c per pound. CASCARA BARK New peel, 7c px pound: old peel, 8c per pound. OREGON GRAPE Grape root, 7c per pound . HOPS 1922 crop, 7llc per pound. WOOL Valley wool, fine and half blood, 30 35c; three-eighths blood 30(9 S2c; quarter blood, 25 27c; low quarter and braid. 2022c; matted. 16Q,lSc MOHAIR Long staple, S2c delivered Portland; short staple, 27c; burry, 22 per pound. Oils. LINSEED OIL Raw, in barrels. $1.10; 5-ga!lon cans, $1.25; boiled. In barrels, $?.12; 5-gallon cans. $1.27. TURPENTINE In drums. $1-60; 5 gallon cans, $1.75. WHITE LEAD 100-pound kegs, 13c per pound. GASOLINE- Tank wagons and iros barrels, 24c; cases. 37c Lumber. The following are direct quotations on Douglas fir and represent approximately The nendulum has swung the other wav and described almost a full half- circle ia the salmon trade, according to A. C. Steven, manager of the Canadian Bank of Commerce, Seattle, wno was visitor in the local financial district yes terday. A year ago, it is recalled, canned salmon was a drug on the market and anvone who was even remotely connected with a cannery was shunned whenever he came near a. banker. All this is changed, said Mr. Steven yesterday. There has been a successful season, with many canners out of opera, tion because the prospects looked s eloomv for a rood price and this mod esty on the part of some served to help those who did pack fish this year. Losses by cannerymen a year ago nave oeen overcome largely by a good pack and satisfactory prices this year, it was said The total pack is far below normal and this condition is expected to mean good prices for tinned salmon, said Mr. Steven. Most of the local bond dealers will paritcipate in the offering of $456,000 in per cent cumulative smiting runa pre ferred stock issued by the Sinclair Corv- solidated. Oil Corporation, New York. The security will sell at par and crued dividends. W. W. Fordyce has been added to the sales force of the Portland house of Freeman. Smith & Camp company. Mr, Fordyce is a graduate of Reed college and has had training in accounting and salesmanship. That Tacoma Is still the city of des tiny and that she is certain to rise to heights as yet undreamed of was the optimistic message brought to Portland yesterday by E. T. Wilson, vice-president of the National Bank of Tacoma, who was a visitor at leading Portland banks. Mr. Wilson said if proof were needed, one need but point to the magnificent $3,000,- uuu notet soon to rise at i acorn a. ine new hostelry, he said, will become reality soon after a suitable site can be chosen. The people of Tacoma will back the project generously by means of sub scription to the finances of the company, he said. Besides, it was stated, lumber is going strong in the Tacoma district. with the mills all busy on big orders, Everything points to a great city where Tacoma stands, according to Mr. Wilson. It is hard to keep a banker, even though he be a retired one, away from his former haunts among other money merchants, according to William G. Tate, formerly president of the First National bank of Med ford, who was a visitor at the Northwestern National yesterday. He quit banking a year ago but he con fided to v ice-President Stewart of the local institution that he felt at home only in a banking house, where he has passed so many years. F. W. Kettenbach, president o the Bank of Camas Prairie, Grange ville. Idaho, was in the city yesterday and was amonig tne callers at tne First National. R. S. Howard, vice-president of the Ladd & Tilton bank, has cone off .on another three-day vacation, during which ne will inspect the country districts and find out for himself just what makes the wheels of industry and finance revolve. m m George Welch, cashier of the First Na tional bank of Port Townsend, Wash., was a visitor in the city yesterday and called at the Ladd & Tilton bank. S. M. Eddy, vice-president of the Ladd & Tilton bank, has left business cares for a time to revel in that lazy feeling that -comes with the annual vacation. He will nofc return to his financial wor ries for another week. Frank B. Keelan, formerly associated with the sales organization of the Lum bermens Trut company, has been added to the salea staff of G. E. Miller & Co., Pacific coast bond dealers. Mr. Keelan has been a resident of Oregon for many years and is well known throughout the state. He will be connected with the Portland office of the firm. L. C. Pontious and C. D. Phillips, of the Federal Reserve bank, San Fran cisco; Frederick Greenwood, manager of the Portland branch, and Frank Robert son, of Robertson & Ewing, returned yesterday from a trip to eastern Oregon and Idaho. Conditions in general show some improvement, it was said. Sheep men are optimistic, while cattlemen and farmers are of a contrary frame of mind, due to prevailing low prices for their products. A good apple crop is being harvested, but is also faced with low price conditions. SAN FRANCISCO PRODUCE MARKET Prices Current on Vegetables, Fresh Fruits, Etc., at Bay City. . " SAN FRANCISCO. Oct. 10. (State Di vision of Markets.) Fruit Apples, box. $12; new green apples, lug box, 75c 1.25; blackberries, drawer, a)45c; can teioupes, standard crate, 50c 1.50; figs, black double layer box. $1.20 1.50; grapes, crate. $1.101.75; grapefruit, $7.50 ft 9; huckleberries, nominal; lemons, $6.509; loganberries, nominal; nectar ines, crate, $11.3; oranges, Valencias, $0i(ill; peaches, crate. 65c$l; pears, Bartlett, box, $1.50,.50; persimmons, flat crate, $1(&1.50; Persian melons, crate. 50c$l; plums, crate. 75c 1.25; pomegranates, small box, $11.25; rasp berries, drawer, 50S 60c; strawberries, drawer, 4560c; quinces, box $1.25 1.50; watermelons, pound, lc and less. Vegetables Artichokes, lug, $12&'15; beans, pound. 8llc; cabbages, pound. 2 cents; cauuriower, aozen, lactgl; carrots, sack, $1(0-1.25; celery, crate. $2.50fc3.50; cucumbers. lug, 75c$1.25; eggplant, lug, 75c&'$l; lettuce. crate, $1.50 fjjii 2; green corn, sack. $1.75 3 ; beets, sack. $lffr 1.25; onions, brown and yellow, cwt. $11.25 at wharfs; green, box, $1.25 1.50; peas, pound, 7 13c; beil peppers, lug. 40 75c; potatoes, cwt.; $1.25 2. 23; sweet, pound, 2"4-1c; rhubarb, box, $1.50 1.75; summer squash, lug, Jl.SO'oJ 1.75; spinach, pound, 57c; tomatoes, lug, 75c$l; turnips, sack. 75c$l; parsley, dozen bunches, 30c only; radishes, dozen bunches, 30c only; brussels sprouts, pound, 67c; pumpkins and squash, sack, $l$il.25. Poultry Fryers, 2830c; broilers, 28 40c; young roosters, 2S'g 30c ; old, 14 ISc; hens, IS ''a 30c; ducks, 18 20c; live turkeys, 32 38c; dressed, nominal; hares, pound, 15!frl8c; squabs, dozen, $33.50; jackrahbits, dozen, $2g2.50. Receipts -Flour, 4600 U sacks; wheat, 2440 centals; barley; 36,744 centals; po tatoes, 3470 sacks; onions, 760 sacks; hay, 10 tons; hides, 271. QUOTATIONS OX DAISY PRODUCTS Coast and Eastern Markets for Batter, Cheese and Eggs. SAX FRANCISCO. Oct. 10. (TJ. S. bu reau of agricultural economics.) But ter Extras, 58c; prime firsts, nominal; first. 50c. Eggs Extras. 60 He; extra firsts. 54c; extra pullets. 45c; under-size pullets. No. 1. 29 He. Cheese California flats, fancy, 26Hc ; California flats, firsts, nominal; Cali fornia Young Americas, fancy, 28 He NEW YORK, Oct. 10. Butter Steady; packing stock, current make, No. 2. 28 -SHc. Eggs Irregular; fresh-gathered extra firsts, 44 46c ; firsts. 35 42c ; Pacific coast whites, extras. 68c; do. firsts, extra firsts, 56;n66c; refrigerator firsts, 27H Cheese Firm. CHICAGO, Oct. 10. Butter Higher. Creamery extras, 43Hc; firsts, 35H 3THc; extra firsts, 39H42c; seconds, 33 H 34 He; standards, 30c. Eggs Unchanged; receipts, 10,255 cases. SEATTLE, unchanged. Different Standard Oil Stocks Take Opposite Directions Under Heavy Fire. fBv Chieae-a THhimA lasrl Wire. NEW YORK, Oct. 10. The action of today's stock market was just about what might have been exoected follow ing such an upturn in stocks as took place Monday. Heavy buying orders crowding in at the opening, brought about advances in initial prices and there was a further upturn during the first hour, which carried many of the issues which had been in the speculative limelignt, to new high levels. When the market was called upon to face heavy realizing, however, prices broke sharply and not a few stocks lost from fractions to as high as 10 and 12 points. At the close tnere was ueciaea irregularity. Such a dlsolav was the natural out growth of a market, which on Monday lent itself to wide speculation based upon nothing more tangible than what might ordinarily nave been ta-Ken r'dicutous rumor. During the opening day of the week a report that legislation might be enacted at Washington, which would call for a heavy tax -on the sur plus accounts of corporations, was the signal for heavy speculative buying in the stocks of those companies which are known to have large surplus accounts. Prof it-taking Begins. Today, the rumors, having worked its will on the market to an extent that was hardly to be believed, the inevitable profit-taking came into play, and with no sufficient demand to absorb offerings, the prices of many issues gave way in what was almost an abrupt decline. It was noticeable as the day pro greased that the course of prices was not by any means uniform as related to stocks within the various popular group ings, and likewise it was true tnat i aha. rise of earlier days was not neC' essarily the forerunner of a decline to day. This was evidenced in the case- af certain of the Standard Oil stocks. Standard Oil of New Jersey declining 12H points after having crossed into a new high at 250H- on tne otner naim, Atlantic Refining, which gained 155 points Monday brought its quotation up 10 additional points to ioju ana me uis for the day was 1575. This could be, in part, accounted for by the fact that Standard Oil of New Jersey is a more available mpans for speculation than At lantic Refining. Mexican Petroleum Up. However, while the shares of the New Jersey company were declining, the stock of another oil company. Mexican Petrl a,.m witvirmt nnv definite news so far as the 'market was concerned, made a net aHvAnpA of as Doints, and at one timt Th most noteworthy development of a constructive character with relation to the day's news was the announcement th. unfilled tonnaee on the books of th TTnited States Steel corporation the close of September. The increase nTnniintfd to 741.502 tons, bringing the tntai fnrwar husinesa UD to 6,691,60' tons. These figures were made public at 12 o'clock, but hardly lived up to the expectations of the financial district. There had been some discussion aonoay to fhfi effect that the steel corporation business would probably show an increase in excess of 1.000.000 tons and thus Wall street could find some basis for dissatls- far.tinn There is this. however, tnat the nresent increase in rorwara Duin of the steel corporation is the largest T-efrtrrfA in nnv month since December, 1919. Also it is true tnat me presem total of forward business is the highest since February. i-i, Th4,rnrd shows conclusively the ad vantageous position in which the steel companies are finding themselves. Un ir.iiHtArtTv a larse nroDortlon of this for ward business represents ran orei B placed by the various transportation systems so as to antedate the increasi of $3 a ton in the price of steel raili which became effective uctooer i. it i nrnhuhle that the laliure ot un filled tonnage to reach the million-ton mlvmM which had been expected was due to the fact that Dianaet oxaers were piaced without direct specification and thrfnrA wprp haj-dly included in the new business recorded. It would not be surprising-, therefore, to find this busi ness reflected in the unfilled tonnage figures for October. I nked States Bonds Popular. Krom all renorts which have come to hand it annears that the refunding oper ations of the government with relation to Victory notes by the offering of $500,- 000.000 of long-term bonds win una a heavy over-subscription . when tne una figures are tabulated. The quick suc cess of this government financing stands air a testimonial to the liberal bond edu cation which the public received during the war period. It was to have been ex pected that there would be heavy uemana for the new bonds from the large cor porations and institutions, but it ap pears now that there likewise has been a heavy cash subscription by small in vestors, who may take one or two bonds. Tt was further evidenced today that Secretary Mellon, in making this offer ing, had guaged the money market ac curately. The Liberty bond issuee were firm and the general run or oono issues was in, a like position, indicating that the government offering had not had the least unsettling effect. Oct, 10. Butter and eggs, Boston Mining Stocks. Furnished by Overbeck & Cooke com pany of Portland: Arizona Comm Adventure - Ahmeek AHouce Arcadian Calumet & Arizona ... Calumet & Heclas ... New Cornelia Centennial Copper Range Kast Butte Franklin Mining Hancock Helvetia Island Creek Keweenaw Kerr Lake I,a Salle Michigan Mohawk Mayold Colony North Butte Nipissing Quincy Mining Isle Royal '. . . South Lake Supp Boston United Shoe Mch do pfd Superior Copper Trinity Copper Tuolumne Utah Metals Utah Con U S Mining . Utah Apex Ventura. Victoria . . Winona Wolverine Wyandot . Bid. Ask. . 7H 8 . 50 100 .61 f 62 24 .2 3 , . 60 61 H .280 35 18 18H .8 30 ,. 30-S 30 . H 10 1 . 2Y .24 2 . . $0 .102 103 . 8 H 4 . 4 . IS 1 . 2H 3 . 5fH 6'H a 3 . ioh ii . f 6 . 39 40 . 22H 23 . 44 45 . 1 1H . 43 H 43 . 2H 27 . 44 4H 1 1 . 60 53 . 1H J . 2 2H . 42H 43 . 47 47H . 2H 2 . 28 H 23 H 1 1H 1 . ft 10 . 50 60 EASTERN ICMBER BUSINESS BRISK Increase Noted in Demand From Indus trial Consumers. Business in lumber continues brisk A significant feature, however, is the shift ing in the character of demand, accord ing to the American Lumberman. Dur ing the earlier months of this year, and in fact until recent weeks, the bulk of the demand came from retail lumbermen and was for yard stock ordinarily used In the earlier stages of home building. The demand for yard stock recently has shown a decrease, but this decline was compensated for by an increase In de mand from industrial consumers, who have come into the market in line with improvement in the various industries. The result is that today the keenest de mand is for timbers, for car material and for such items of yard stock as 'are used in completing the construction of homes including finish and vertical grain flooring. The shifting in demand, of course, has been attended by price adjustments. Cer tain items of yard stock have recently shown some decline, while timbers, car material, etc., show a steadily firming tendency. The railroads, both in the south and on the Pacific coast, are Heavy purchasers and not infrequently they, or the companies which build cars, will agree to furnish empties in which to move railroad material, but so ferloua Is the shortage of equipment that some rail roads find it practically impossible to follow this plats. On the Pacific coast, mills In isolated locations ars experiencing great diffi culty in getting cars. In the south, mills j west oi "tne juisstasippi ri vrr ru m inci ter shape than those east of it. In every section, however, the mills getting the best supply of cars are those so situated that there is competition between- trans portation lines for their shipments. WHOLESALE DRY GOODS IMPROVES More Bayers Than mt This Time It Wholesale dry goods business shows gain over last week, both in volume and number of orders. There were more buyers in the market than during the corresponding week last year, reports the John U. Farwell company of Chi cago. Gingham prices for the spring of 1923 have been made and salesmen are now out on the road with spring lines. The cotton market continues very firm. Silks and pile fabrics are very active. Since last week's report, raw silk has ad vanced 75 cents a pound. Orders are coming in freely for kid gloves on account of the tariff situation, also for canton flannel gloves and mit tens, to complete the fall husking season. Collections are running about the same as during the corresponding week last year. HOG PRICES M REDUCED I MARKET QUARTER' LOWER THAN MONDAY'S TOP. Cattle of All Kinds Continue " Weak; Sheep and Lambs Are Steady. Fourteen loads were received at the yard, yesterday and with the holdover stock there was a supply on hand tor a fairly active market. Th. fa.itl division continued very weak, but there were no further decline. since those of Monday. Hon failed to hold tne rain maae on the previous day and the regular top is now 11U.70. nut tne sioca om "ici uj at -that price was not as food as the 111 hogs sold Monday. Sheep and lambs were steady and un changed. Receipts were 80 cattle. l calves, i?u hogs and 3&0 sheep. The day s sales were as roiiows 904 os 8S0 810 Wt. 3 steers 960 steers 11 13 steers 1009 1 steer. 1100 3 steers 1083 7 steers 974 6 steers 975 5 steers 976 1 steer. 1020 12 steers 925 6 steers 1003 18 steers 1005 9 steers 832 1 steer. 940 !6 steers 96 :7 steers !5 steers 1 steer. 2 steers 5 steers 24 steers 1 1 Bteer. loan 1 steer. 860 5 steers 7n0 1 steer. 1200 1 steer. 9:10 1 steer. 840 22 steers 1023 1 steer. 1070 25 steers 1117 4 steers 1132 i at... nun 4 steer3lin0 2 cows. 1020 2 cows . 19 cows. 2 cows. 4 cows. 4 cows. 1 cow . . 2 cows. 4 cows. 1 cow. . 5 cows. 18 cows. 1 cow. . 5 cows. 1 cow . . 2 cows. 1000 2 cows. 1150 lcow.. 810 1 cow. . 1330 16 cows. 1110 25 helfrs 935 4 calves 2S2 1 calf. . 160 1 bull.. 1460 1 bull. 1 bull. 1 bull. 1 hog Price.l I 5.5W 1 star. 0 4.00! 2 mined 5.50 5 50 5.50 5.35 Wt. Price. 1090 $ 4.30 995 990 593 907 940 1010 1003 887 950 900 825 090 526 910 4 mixed. 1 hog... 1 hog. .. 6 hogs.. 1 hog. .. 5.35 2 hogs.. 4.00i 5 bogs.. &.50I 1 hog. .. 5.50. 1 hog... 5.65! 3 hogs.. 5.251 1 hog. .. 4.007 hogs.. 6.35 54 hogs.. 6.65 63 hogs.. 5.65130 hogs.. 5.J5!77 hogs.. 5.1o! 1 hog. .. 5.001 1 hog. .. 6.001 1 hog. .. 5.00 10 bogs.. 4.001 2 hogs.. 4.50128 lambs. 5.501 5 lambs. 4.5n!23 lambs. 4.00 100 lambs 5.501200 lambs 5.23! 8 lambs. 6.50127 lambs. 5.501 1 ewe. . . 4.001 4 ewes.. 7.00! 2 ewes.. 1.50 24 ewes.. 3. 00. 36 ewes.. 4.251 4 ewes.. 8.00! 1 wethr. 4.25112 wethr. 5.001 3 wethr. 4.751 6 wethr. 5.00! 2 bucks. 6.00:14 steers. 4.00118 steers. 270 180 130 1!U 830 265 174 280 484 246 200 176 175 143 132 168 230 240 650 220 460 58 74 73 61 7S 97 54 70 142 120 115 120 105 200 95 106 115 205 1072 908 1900 1280 780 230 249 181 600 107 185 410 248 240 92 91 2 50 10.50 9.50 10.50 7.50 10.00 10.50 8.00 7.60 10.35 8.40 10.40 10.60 10.25 10.25 10.75 I..75 H.00 r.oo 10.25 7.50 8.25 9.50 i 8.50 9.50 10.50 10.00 9.30 2.00 2.50 4,50 3.50 3.25 300 3.60 S.50 6.50 7.00 8.00 6 60 6.25 6.80 5.00 6.00 6.80 6.80 8.75 5.00 e.oo 10.60 7.00 10.33 10.65 S.50 9.75 9 00 5.00 5.00 3.00 .2.V26 steers. 1185 4.35: 1 steer. . 1210 3.00! 8 steers. 10S8 3. 8.V26 steers. 1150 3.0026 steers. 1190 2.50! 5 steers. 1062 4.0o 2calves. 300 2.50 22 calves. 4.50i 8 hogs.. 5.101 1 hog... .1.10114 hogs.. 7.0O!9 hogs.. 4.001 1 hog. .. 3.00!12 hogs..' 3.00! 1 hog.. . 3.501117 ewes. 2.7.V120 ewe.. 9.751 20 ewes. Prices quoted yesterday at the Port land Union stockyards were as follows: Cattle r"c-. Choice steers ..iO(B 7 00 Medium to good steers o. low o.o.j Fair to medium steers 6.25 5.75 Common to fair steers 8.73 5.25 Choice heifers 5.00 5.23 Choice cows and heifers 4. 50(1 6.00 Med. to good cows, neirers .... a.nvw .nu Common cows Canners Bulls Choice feeders Fair to good feeders Choice dairy calves Prime light calves Medium to light calves- .. . Heavy calves Hogs Prime light . .. 1.50 2.00 . . 1.60( 2.00 . . 4.00O 4.50 , . 6.0091 5.50 . . 4.000 5.00 .. 9 001910.00 . . 9.00 10.00 . . 8. 00 9.00 . . 5.00 7.00 10.25W10.75 Z lTIUW j Bonds which we offer for investment to our clients have been purchased by us after the most careful consideration.. We offer no bond which we do not own and none which we do not consider suitable for our own investment. City of Albany Imp. 6s 1032 Clarke Co., Wash., Road 5i2s 1937-30 Greater Winnipeg WTater 6s 1930 Umatilla Co., Ore., High S. D. No. 1, 54s 1929-37 Malheur Co., Ore., S. D. No. 851-S 1932-42 Fremont Co., Idaho, S. D. No. 6 1933-12 Jefferson Co., Idaho, S. D. No. 6 1933-12 Carman Mfg. Co. &s 1925-27 Pacific Power & Light 8s 1930 Pacific Power & Light Co. 5s 1930 Portland Gas & Coke Co. 1st and Refunding 5s. .1910 Northwestern Electric Co. 1st mortgage 6s.' 1935 Kansas City Power & Light Co., 1st mortgage 5s. .1952 Sinclair Pipe Line Co. 5s 1942 Swift & Co. 5s 1932 Complete details of any of these issues furnished on request. Telephone or Telegraph orders at our expense. BOND DEPARTMENT OPEN 8:30 TO 5:00 SATURDAYS 8:30 TO 2:00 mm & tilton BANK Oldmst in thm Northwrt WASHINGTON at THIRD 4.90 5.10 5.25 5.00 5.00 o.2. 6.50 7.00 5.70 5.55 5.82 5.4 i 5.40 5.40 BkawS r a t c HgS j mTTTvri-T'i'riTrTrTi1 1 v i v i 'i-1 y iv i'i'i'i'i'i'i'i'i''i'i v riTiTiT TTTTTTrrTmrnvT v i v i -3 Smooth heavy, 250 to 300 lbs.. 9 50g10.00 Smooth heavy, 300 lbs. Rough heavy Fat pigs Feeder Dies Stags, subject to dockage bheen Kast of-mountain lambs . Choice valley lambs Medium valley lambs .... Common valley lambs .... Cull lambs kieht yearlings Heavy yearlings .ight wethers Heavy wethers Ewes 9.00(9 9.50 . .. 7.00 8.50 . . .10.00 m 10.50 .. .10.00lgl0.73 . .. 5.00 7.00 .'..10.no911.00 9.5010.50 . .. 8.50fl 9.50 ... 7.50ffl 8.50 . .. .50l 7.50 ... 8.00(0 8.50 . .. 8. 00 8.50 . .. 6.50 7.50 ... 5.50 8 00 . .. 2.00 6.00 Chicago livestock Market. CHICAGO. Oct. 10. (U. S. Department of Agriculture.) Cattle Receipts. 12.000 head: modPrately aftlve. generally sfaiiy on all classes; bulls steady to strong, iarly top ir.atured native steers 812.75; bulk natives of value to sell at $9.50 11.25: supply of westerns liberal; few sold early; demand for light atoclc steers fairly active at Mondays advance; ouix desirable bologna bulls, $4.156425; few heavies at $4.35 and above; packers bld dlna around $10 for vealers; outsiders making selection of $10 5U11; bulk of butcher she stock, $4.257. Hogs Receipts. 23.000 head; market very slow around steady; big packers bidding lower on lighter weight; packing sows strong; bulk 1M to 210-pound aver ages. $9.759.95; top, $10.10, one load; good and choice 250 to 800-pound butrh. era, mostly $9.609.95; bulk -packing sows, $7.759 8.25; desirable pigs, $8 .75 fc)9: heavy. 8.759.95: medium, $9,754 9.95; light, $9.50r9.90; light light. $9.10 69.60; packing sows, smootn. si.noi 8.40; packing sows, rough, $7.25gf7.9u; killing pigs. $8,5069. Sheep Receipts, 21,000 head; fat west erns opening active, steady to strong; six cars Washington lambs $14, with 850 out; other strongs, good Montana and Utah lambs, $14; native lambs steady to 25c higher; early top, $14 to city butch ers; feeder Inquiry good: no early sales; two doubfes 100-pound Nevada yearling wethers $10.25, with 100 out to killers: sheep steady; heavy fat ewes, $3,506(4; lightweight, upward-to $6.50. Kansas City Livestock Market. KANSAS C1TT. Mo., Oct. 10. (V. Sf Department of Agriculture.) Cattle Receipts. 19,000 head; cows, bulls and stockers and feeders steady to strong; bulk cows, $8.755: few at $5.506; most grass heifers. $45.60; bulk bulls. 3 '..MS): most canners. $2.502.75; bulk butters. $36(S.2&; early top steers. $11.75; some hotter ones due to arrive; mn common and interior nornea grass $44.75; selected 410-pound feeder calves, $8.85. Hogs Receipts, ll.uow neaa; siow, n.tiv .t.idv to 10c lower: packer and shipper top, $9.55; bulk 175 to 235-pounds. $9.85!9.5U ; lO .(iicimunuB. ii.urn.ij $8 95 69.45: bulk sales. $8 85&19.50; pack ing sows strong to 10c higher; bulk. $7.40 6(7.65; few. $7.75; stock pigs steady, mostly $8. 65 9. gheep--Recelpts. 8000 head ; early sales western lambs. 10 15c higher; $13.R0 paid; early sales largely $13.60 13.HO; sheep fully steady; western ewes, $5,85; odd lots up to $6.50. Omaha livestock Market. OMAHA. Oct. 10. U. S. Department of Agriculture.) Hogs Receipts. 7000 head; medium and light butchers. 5 10c lower; packing grades, steady; close, loc lower; bulk packing grades, $7.60: bulk 200 to 300-pound butchers, $8,500 9.50; top. $9.60. t , Cattle Receipts. 12.000 head; beef steers, mostly steady; top cornfed year lings, $11.95; stockers and feeders slow; about 10 15c lower; other classes of stock generally steady. Sheep Receipts. 18.000 head: lambs and feeders. 1025c higher; sheen, strong; bulk fat lambs. $1.1 25 13.50; yearling.. $9 75 flown: ewes, $5 95 dnwn: bulk feeding lambs, $13.80. $12 7511 40; top. San FraarUra Mvratark Market. RAN KRANOISCO. Oct. 10 federal Stale Livestock Market News ) Cattle Heef steers, good grade, $7.75fcs; me dium grade, $747. 5U; common grade. $6W6.7.-; beef cows, good grade. $3.75 r; medium grade, $5.25V55U; common grade, $445; canners and cutters, -4 8.50: bologna bulls. U.VH Calves 150 to 200 pounds, good and choice. $S6'H 50: 2'to to 250 pounds, good and choice, $7.50trK: 25 to 300 pound., good and choice. $65017.50; over 3"0 pounds. $5 500650. Hogs (Jood and choice, grain-fed Csll fornlaa. 150 to 200 pounds. $ 1 1 1 1 ': 21)0 to 250 pounds. llO io'O II: 2.V1 to 'W pounds. $9,50410.50; over 3'H) pound.. $8.50'u. 0.5O; smooth sows. 250 to 3si pounds. $71r7.5n: roush sows. 250 to sou pounds'. $6dl6.50; over 8IH) pounds. Ilh. yheep and lambs Full wooi.d lambs, good and choice grades. 91ttl2 AO: me dium grade, 11.5012: ewes, medium and good. $5(6; wethers, medium snd good, $76 8 50 Seattle livestock Market. SEATTLE, Oct. lO. Hogs No re. celpts; 25c lower; prime. n.o75: smooth heavier, $7,75625; rough heavies. $5 7567.75; pigs, $H.757. Cattle No receipts; steady; prices un changed. Chicago Petal Market. CHICAGO. Oct. 10. Potatoes ateadr. Receipts. 112 cars: total United Stales shipments, 1071 cars. "Wisconsin sacked and bulk round whites, si.ooci l.i" cwi poorly graded. 8090c cwt; Minnesota Backed and bulk round whites. lM.ctr$!.05 cwt.; Minnesota sacked Red river ohloe. $1.0001.10 cwt.: ditto bulk 90ct$l cwt Minnesota bulk sandland Ohlos. 75rOc cwt.: North Dakota bulk Red rivers. H5t$95c cwt.; South Dakota bulk Karly Ohlos, 70O95O cwt. t. tendance. Compared with he Ust clcse. Merlnn edvaiM-.d ft I O I" f rroaa-brece and fine rotnt.li.g 10 i r medium 7 to 12 r-r r.tt and u. r grades unchanged to ft f.. r rent d .., Thers was actus home and contln.n.sl buying. vTarebaav Hal MeaMaa tlrtahrr la. OI.TMI'U. Ui.h, t to Ntt... Ht a ui(.m.nii beanos; In lh- rt..M menl of ,ubiic w.-rks tt. r.iia . iwn f grain warcro.u. rate. In H.t.a We''., t'o.umbla. ;.rf;ld .nd A.o.in rMrti.. would ta h.ld In u a "mc .tui..r 11. was sent out today bi K ku.... dull, director ,,f th. ft t.s rl m.nt AO-l tlonal inrormstl.-a resting to toe . u of the warehouse pmp.rt.ie lnv.ti..d .l be. sought. of tojed Oil Markets. Ccttonse.d oil r.itur.s at N. furnished by Joru.o -nloru. I'ortiand. totwr. tnsetnTr: v..v.mp 9nrT.r; lier.mu.f-. K5oasr..t. S 'OW H .".4r. l-'ehruarr. a ST- " W Mlc; spot. IM- b.u, ,,. -e. s M I . t , . , . M.r.1.. 1 . Metal Markets. NKW TORK, Oct. 10. Copper Quiet. Electrolytic, spot and futures, 14r. Tin Klrm. Spot and futures 33.50c Iron Steady, unchanged. Lead Klrm. Spot 8.50 a 6.75c Zinc Firm. Kast St. liOUia. spot and nearby delivery, 6.o$r.70c. Antimony Spot 6.757c. Mugar Market. NEW CORK. Oct. 10. Raw sugar, ren trlfugal, fi.2Hc. Refined granulated, 6.25 6 6.60c. , SAN FRANCISCO. Oct. 10. Callfornl Hawaiian raw sugar. 6. 26 He. Dried Fruit at New Tack. NEW TORK. Oct. 10. Evaporated apples, dull; prunes, firm: apricots, steady; peaches, quiet: rslsina, steady. Landaa Wool Higher. LONDON. Oct. 10. The wool nurttnr. sales opened firm today with offerings of 10 279 bsle. Trore www a f.rg. rT-nflTiiYiHirT th - -emsmmammammmmMaaBmmmmmtmmmmmmmmmmmammmmmmmKmm AMPLE SECURITY Protects the Preferred Stock of the PACIFIC POWER & LIGHT CO. The Company owns property in the. states of Oregon, Washington and Idaho, including" electric power plants, gas plants, water works, high voltage transmission lines and many miles of electric distributing pole lines. The cities and towns in which this property is located are in prosper ous and growing agricultural and horticultural districts, with the exception of v Astoria, a wealthy fishing and shipping center. To keep pace with the steady growth of these communities, the Company has been continuously expanding, acquiring new property in order to better satisfy the demands made upon it. . , A detailed circular, descriptive of the Pre ferred Stock of The Pacific Power & Light Company, will be furnished you upon request. Blyth. Witter. &. Cq " GOVERN M ENT-M U N ICI PAL-CORPORATION BON DS - FOURTH AND STARK, PORTLAND BROADWAY 6481 SAN FRANCISCO-LOS ANGELES-NEW YORK-CHICAGO-SEATTLE-PORTLAN D rrigyisifTMnTOgs Undisputed NO one will dispute the fact that it is far better to put one's sav- ' ings into home concerns which hire unimpeach able records, keep in touch with the enterprise, and receive regular quar terly dividends at rate of 7 yearly, than it is to buy securities of faraway countries with uncertain returns. Common sense and com mon prudence ought to guide investors into ra tional investments at home in preference lo capitalizing "dreams" and, in the majority of cases, losing one's capital. The Northwestern Electric Company is a "home" concern with an unim peachable record. It of fers for expansion pur poses its T'n Cumulative First Preferred Stock for purchase outright for cash or on a Special Savings Plan. Investigate! Simply phone, write or call for details furnished free. J. G. TAVARES Manager Stock Sales Northwestern Electric Company LIGHT POWER HEAT Broadway OSSO Washington at Tenth tarb Mark. 1. O. Tavarea, IJ mtarai Blara Parilaad. ftlr: Pies vend ire additional Is. . formation rerdin your wvt treat. I Name I Address I