Morning Oregonian. (Portland, Or.) 1861-1937, December 21, 1922, Image 24

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Morning Oregonian., December 21, 1922, Page 24, Image 24

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Newspaper Page Text24 THE MORXIXG OREGOXIAX, THURSDAY, DECEMBER 21, 1922 GRAIN BAG RULING E Merchants' Exchanqe Asso- ciation Goes on Record. COST FALLS ON FARMERS Ifccdlcss Kxpense Is Incurred, - Which Would Be of No Ben 1 Z efit to Government. The Merchants' Exchange association .went on record yesterday as opposed to ttio recent treasury ruling that requires the marking of all Calcutta grain bags v-ith the name of the country of origin. .a. restnuuons was passed unanimously which recites that the regulation will not add to the revenues of the government, but will, on the other hand, increase the cost of bags to farmers of the northwest. The secretary of the association was in structed to mail the protest to E. W. Camp, chief of the division of customs, treasury department, Washington, D. C. The treasury order, which was sent to collectors of customs at all ports, said: "It has recently come to the depart ment's attention that a lack of uniform ity exists at the various ports of entry with respect to the application of the provisions of section 304 (a) of the tariff act relative to jute bags imported in bales. "The department is informed that at certain ports It has been the custom in the past to permit the delivery of such importations when the bales containing the bags bear a mark to indicate the country of origin and the individual bags are not so marked. "The department is of the opinion that the bags are capable of being marked or stenciled to indicate the country of origin at the time of manufacture, and, there fore, fall squarely within the require ments of the statute. You will be gov erned accordingly with respect to the marking of this class of merchandise. "In order to afford' importers an op portunity to communicate the necessary Instructions under the changed require ments to their shippers abroad, you are hereby authorized to permit the delivery without further marking and without the assessment of the additional duty of 10 per cent prescribed in section 304 (a) of the tariff act of such importations leaving the country of exportation on or before January 15, 1923, if the bales bear the necessary imprint of the country of origin. "Objection has been made by a num ber of importers that the marking of the bags with the country of origin will be in conflict with marking to be placed on such bags indicating the origin of the products to be contained therein. In order to avoid such conflict it is suggested that importers may, if desired, mark or stencil the bags with the words: 'Bags made in 'Containers made in ,' or some similar formula." WHEAT VALUES ARE MAINTAINED Prices Hold Steady In Face of Light Business Coarse Grains Lower. , The wheat market continued steady in pte of the quietness. There was little liuying by the mills and exporters took rijly an occasional lot here and there. For club, $1.26 Was obtainable. There was some inquiry for soft white at $1.27. Red wheat was dull. A small lot of Big Bend bluesteni was sold on the sound at $1.67. Montana wheat now finds a bet ter market at Minneapolis than here. At the Merchants' Exchange all wheat bids were unchanged except soft white, northern Bpring and western red, which were 1 cent lower. Corn and 38-pound oats were 60 cents lower. Heavy selling to realize profits led to sharp breaks at Chicago after some new high-price records for the season had been touched. The market closed nerv ous. 14 2 c net lower. With an ad vance in Liverpool tending to lift prices the way was opened for holders to un load to advantage, and the opportunity was quickly grasped. It was even as serted in some quarters that the Liver pool market - had been purposely bid lip to furnish such a chance. However this might be, selling quickly broadened and gains which had been scored at the opening were much more than wiped out, the market at one time showing a fall of as much as 3c. Export business Which developed during the downward wings of the market led to price rallies in the last half of the day. A report that Italy had removed the import duty on flour was also of some assistance to bulls. On the other hand, legislation which might help to enhance values ap peared to be moving slowly and it was only -with aggressive support from large houses that the market was upheld in the final dealings. Liverpool closed l2d higher at 10s Bdtor December, 10s Id for March and Ss lOd for May. - . Buenos Aires cash wheat was 1 cent higher at $1.22. Futures opened c higher. . Terminal receipts in cars were reported by the Merchants Exchange as follows: Portland Wht. Bar. Fir. Cn. Ots.Hay. Tednesday.. . t0 Yeai ago 91 1 Sea. to date. 11, 968 362 Tear ago 19,322 137 ' Tacoma 7 4 4 12 7 4 6 3 907 344 429 1040 1236 279 530 93: Tuesday .... Year ago.. . . Sea. to date. Year ago.... Seattle Tuesday .... Year ago. . . . S PROTESTED HER 13 .. 2 .. 1 .. 10 1 3.860 2t 536 210 91 358 6,472 78 851 135 88 45 15 .. 6 12 .. 21 44 3 14 14 2 8 5,017 27 1399 672 331 930 4,892 129 1295 509 2S0 932 3 J: 480 4 44 5 6 47 Tear ago. . . . Atoria Tuesday .. . . Bea. to date. EGG PRICES CONTINUE TO FALL Candled Ranch Offered by Jobbers at 4546 Cents. , Eeg prices had another fall yesterday and the indicationa are the market will decline steadily from now on. The asso ciation cut its quotations to 50 cents for selects and 47 cents for firsts, while on the street candled ranch could be bought Ireely at 45 1&) 46 - cents and selects 4050 cents. Pullets were generally offered at 40 cents. Buying prices were also reduced, bids being 36 cents for current receipts and 40 cents for henneries. Another decline is expected Saturday. The butter market was firm with a demand for all the cubes available. ; Wheat Technically Stronger. The course of the Chicago wheat mar ket was reported' in the daily wire of Your Turkeys Will Find a Ready Market When Consifcned to Us. PROMPT RETURNS GUARANTEED : THE SAVINAR CO.-, INC. 100 Front Street, Portland, Oregon. EGGS WANTED White hennery extras 43 White hennery pullets 39 Mixed color fresh eggs.... 39 Ship at once. E. W. ELLIS, PORTLAND Terminal Ice & Cold Storage Blrij?. L G ray-Rosen baum Grain company as fol I lows: "Conservative bulls took advantage bullish enthusiasm early, resulting strong Liverpool cablen, to liquidate, causing additional selling and subsequent sharp decline. However, excellent buying on break checked decline and made closing rally. Improved export demand and mill ing demand noted on decline. Believe market stronger position technically. Fa vor purchases present decline." CHRISTMAS TURKEY MARKET WEAK Receipt Are Heavy, Buying Slow and Prices Iower. The dressed turkey market did not look good yesterday. The supply was out of all proportion to the demand and the market consequently became very weak. Receipts were much heavier than Tues day's and while more buyers were on hand, they were not numerous enough to make much impression on the supply. Seeing the condition of the market the larger retailers held back and this added to the weakness. Jobbers started off at 3637 cents, but in the afternoon they found it necessary to cut their selling prices. Choice tur keys were then offered freely to the trade t 35 cents, but buyers either bid 34 cents or held off entirely. The prospects for today's market are not bright. There were also large receipts of live poultry of all kinds, and while former1 prices were quoted there was but little business done. Before the holiday rush hens could have been sold easily, but shippers then kept them back. HOJUDAY TRAJUE TAKES RED APPLES Active Local Demand for Spitzenbergs at . Steady Prices. There was an active holiday demand for. apples in the local market yesterday. The call was mainly for Spitzenbergs and other red varieties, prices were steady and unchanged. ' There were no new developments in the outside markets. Shipping points were dull. a At the New York auction 755 boxes of Oregon Spitzenbergs, extra fancy, large to very large, sold at $2.102.50; small to medium at $1.S52, and fancy, all sizes, at $1.55 1.95. At the St. Louis auction Oregon Spit zenbergs, extra fancy, medium to very large, brought $1.55 1.65 ; fancy, me dium, $1.45; choice medium to very large, $1.151.30, averaging $1.20. Wheat Conditions Uneven. Special reports to the Price Current in dicate that the winter wheat condition in the various states is as follows: Ohio, good; Illinois, good; Indiana, good to fair; Nebraska spotted from bad to good; Kansas, good to excellent, with some sections fair; Minnesota, fair to normal; Iowa, good. Poultry Goes to Honolulu. A shipment of 35 coops of poultry, mostly hens and springs, was sent to Honolulu yesterday. This was the third shipment of the kind that has gone to Hawaii in recent weeks. Rank Clearings. Bank clearings of . the northwestern cities yesterday were as follows: Clearines. Balances. Portland $5,$:!9,618 Seattle &.24R.185 Spokane 2,124,641 Tacoma transactions , $1,414,058 1,170,802 972,079 2,711.000 PORTLAND MARKET QUOTATIONS Grain. Flour, Feed, Etc. Merchants' Exchange, noon session:. Dec. Jan. Feb. Wht Bid. Ask. Bid. Ask. Bid. Ask. H. W...$1.50 .. $1.50 $1.55 $1.50 S. W.... 1.20 W. W. . . 125 H. Win .... N. Spr. 1.20 W. Red l.: 1.25 1.25 1.20 1.21 1.17 . 1.28 1.24 1.25 1.20 1.21 1.17 1.30 1.24 Oati) 38 Nat. 37.00 37.50 39.00 37.50 Barley 44-lb. .34.00 36.00 34.00 36.00 34.00 40-lb ..33.00 33.00 33.00 Corn E. Y.33.50 35.00 33.00 34.75 33.00 84.75 3 E. Y. 32.50 34.00 32.50 34.00 32.50 34.0(1 Millrun 33.00 ..... 33.50 34.50 FLOUR Family patents, $7.80 per barrel; whole-wheat, $7; graham, $6.80; bakers' hard wheat, $7.30; bakers' blue stem patents, $7.55; valley bakers', $6.30; straights, $6.15. MILLFEED Price f. o. b. mill; mill- run, ton lots, $35; middlings. $47; rolled barley. $4244; rolled oats, $45; scratch feed, $49 per toa. CORN White, $42; cracked, $44 per ton. HAY Buying prices, f. o. b. Portland: Alfalfa, $20 21 per ton ; cheat, $20 ; oats and vetch, $22; clover, $20; valley timothy, $22; eastern Oregon timo thy, $23. Batter and Country Produce. BUTTER Cubes, extras, 474Sc lb.; prints, parchment wrapped, box lots, 51c; cartons, 52c. Butterfat, 53c delivered Portland; 50c station buying price. BOGS Buying prices; Henneries, 40c; current receipts, 3tc. Selling prices: .front street, candied ranch 4o(a4ti selects, 4950c; pullets, 40c; association selects, oOc; association firsts, 4c; asso ciation pullets, 4oc. CHEESE Tillamook triplets, price to Jobbers, t. o. b. Tillamook, 30c; Young America, 51c; longhorns, 31c pound. POULTRY Hens, 1422c; springs, 1720c; ducks, white, 1820c; geese, 18c; turkeys, alive, 252tic; dressed, choice, 35c. VEAL Fancy, 12 c per pound. PORK Fancy, 12 c per pound. Fruits and Vegetables. Local jobbing quotations: FRUITS Oranges, navels, S45.50 box; Japanese, $2.25 per bundle; lemons, $Ui 10 box; grapefruit, $3.757.50 box: bana nas, IVY liyG id.; ca&abas, 2y4c lb.; pears, $2 2.50; grapes, 910c pound; apples, 75c $2.50 per box; cranberries, $21.50 per barrel, $11 per half-barrel box, $74()7.50 per third-barrel box. POTATOES Oregon, 0090c per sack; Yakima, 85c $1.50 per sack; sweet potatoes, 34c pound. ONIONS Oregon, $2.252.50 per sack. VEGETABLES Cabbage, 2c per lb.; 1-ntuce, $4)5.25 per crate; gari:c, 15 g)20c ib. ; green peppers. 25c lb.; toma toes, $4.50 per box ; Hubbard stiuash, 1C lb.; beets. 1.7o per sack; tur.-J nips, $j.2d per sack ; cauliflower. $2.252.50 doz. ; celery, $55.50 crate; pumpkins. l2c lb.; carrots, $1.50 per sack; artichokes, $2.25 per dozen; sprouts, 15itfl7c pound. Staple Groceries. Local jobbing Quotations: , SUGAR (sack basis) Cane, granu lated. 8c pound; beet, 7.80c pound. NUTS Walnuts. 15 30c per pound; Brazil nuts, 13 15c ; almonds, 16 Mr 2Sc; peanuts, 88c; filberts, 195c; pecans, 30c; chestnuts, 1640c; hickory, 14c per pound. ? RICE: Blue Rose, 66c lb. COFFEE Roasted, bulk, in drums, 20(&-3iMsC per pound. SALT Granulated,, barrels, $2.60 2.65; half ground, tons, 50s, $17; 100a, $16. DRIED FRUITS Dates, 11c oer pound ; figs, 15 22c per pound ; apples, 12gil4c per pound; peaches, 15c; prunes, B&' 13c; apricots, 2H 31c. BEANS Small white, Sc; pink, 7c; red, tic; lima, 10c lb. HOJS'EY $4.50 5. 25 per case. Oils. LIVSEED OIL Raw, In barrels, $1.10; S-gallon cans, $1.25; bo tied, in barrels, $1.12; 5-gallon cans. $1.27. TURPENTINE In drums, $1.82; 6 gallon cans, $1.97. WHITE LEAD 100-pound kegs, 13 c per pound. GASOLINE Tank wagons and Iron barrels, 25c; cases, 2.6c per gallon. DISTILLATE Tank wagons and iron barrels, 18 Per gallon. Provisions. Local Jobbing quotations: HAMS All sizes. 25 27c per pound ; skinned, 20 27c; picnic, 16 17c; cottage roll. ii6c per pound. BACON Fancy, 3342c; choice, 29 82c; standards, 72Sc. LARD Pure, tierces, 16c; shortening, 14c pound. DRY SALT BACKS 2023c; plates, 18 cents. Hides, Bops, Etc. HIDES Salted hides, all weights, 10c; green hides; all weightSr 8c; salted bulls, 14c; salted or green kip, 11c; hair-slipped hides and ekins, half price; flint dry hides, 15c; flint dry calf and kip, 15c; dry salted hides, 12c; culls and dam aged, fc&tf price. Hojaa hides, green or salted, each, $2 2.50; colt skins, 50c 1 til; dry horse, 75c $1 with mane and: tail oi SHEEP PELTS Dry shep pelts, long, 23c; dry sheep peits, short, llftc; dry sheep pelts, pieces, llftc; dry shearlings, each, 15 25c; salted pelts, long, each $11.50; salted pelts, short, each 75c & , (1.2a; salted shearlings. 10 50c; salted goats, long, $1 2 ; salted goats, Abort, 50c "-y goats, long, per lb., 15c; dry goats, hort, each 2550c; goat shearl in,: j, 1 0 Q 20c. TALLOiV No. 1, 55c; No. 2, 4 5c per pound; grease, 34c per pound. CAoOAHA BARK New peel, So per pound; old peel, 8c per pound. OREGON GRAPE ROOT Per lb., 7& HOPS 1922 crop, 7c per pound. WOOL Valley wool, fine and half blood, 3540c; three-eighths blood, 32(9 35c; quarter blood, 30 32c; low quarter, 25(g?27c; matted, 2225c MOHAIR Long staple, 45c, delivered Portland; short staple, 40c; burry, 25c per pound. Lumber. The following are direct quotations tin Douglas fir and represent approximately prevailing f. o. b. mill prices in car lots and are baaed on orders that have been negotiated; Pre vailing Flooring. High. Low. Price. 1x4 No. 2 VQ $54.00 $43.00 $51.00 1x4 No. 3 VG. ...... 44.00 38.00 1x4 No. 2 & B, SG.. 3if-50 37.50 39.00 1x6 No. 2 & B, SG. 44.00 3D.00 40.00 Stepping No. 2 & B 70.00 63.00 Fin. No. 2 and better 1x8 10-lnch 61.00 54.50 56.06 Casing and base... 66.00 63.00 66.00 Ceiling x4 Nj. 2 & B 43.00 36.50 38.00 1x4 No. 2 & B 39.50 36.00 39.00 1x4 No. 3 36.00 32.00 34.00 Drop siding 1x6 No. 2 &. B 46.00 36.00 41.00 1x6 No. 3 39.50 35.50 .50 Boards and SL No. 1 lx8-10-inch SIS .... 20.50 17.50 19.50 lx!2-inch 21.00 1 Dimension No. 1 S & E x4 12-14 19.50 17.50 19.50 Planks and small timbers 4x4. 12-16 S 4 S 22.50 18.50 22.50 3x10-12 12-16 S 4 S. 24.00 20.00 Timbers 32 ft. and under 6x6-5x10 S 4 S 25.00 21.50 22.04 Lath Fir 5.00 4.00 ..... Oregon Bond and Banking News. Montana will not recover from the hard times that affect the entire state, for a period of three years at the best. This is the opinion of Walter Clark, vice- president of the Yellowstone National Bank of Billings, who was here yes terday. "For the last six years Montana has been in a bad way," said Mr. Clark. "It will take a long period of steady work on the part of all of the citizens of the state, as well as vastly improved con ditions, to bring order out of the situa tion. A great many persons have been unable to get enough money to pay their taxes. Municipalities are not pressing the citizens to pay delinquent taxes, for it would be useless so to do. Land worth $25 an acre some years aeo. and mortgaged to the extent of $10 an acre, is not worth the mortgage. Mon tana is bound to recover, eventually, because it hag the resources, but it will take some time and much hard work to bring back pre-war conditions of oros- perity." The Citizens Bank of Sherwood will open for business today. . Some time ago the bank of Sherwood went Into the hands of the state superintendent of banks. Until now he town has been without a banking Institution. The new bank will give the citizens a place to deposit their savings without going to Hillsboro, or some other town. Ed Schulmerich of Hillsboro is president of the new bank and William C. Christain sen, formerly with the state bank ex aminer, is cashier. M. E. Sinclair of the Southwestern Washington Bank of Tlwaco is develop ing into one of the most regular visitors of Portland, among the out-of-town bankers of this territory. He was here late last week and again put In an ap pearance yesterday. The formal opening of the new Os wego State bank will be held today. John Bickner is president, .Emtl Folda vice-president and Charles J. Sadilek cashier, A. U Fuller, cashier of the State Bank of Rainier, was in Portland yesterday and took lunch with Frank Bates, as sistant cashier of the Northwestern Na tional. E. E. Wist, president of the First Na tional Bank of Scappoose, was here ves- terday and paid his respects to officers 1 oi ine umtea states National. SAN FRANCISCO PRODUCE MARKET Prices Current on Vegetables, Fresh Fruits, Etc., at Bay City. SAN FRANCISCO, Dec. 20. (State divis.on of markets.) Poultry Fryers, 2o28c; broilers. 2535c; young roosters, 2127c; old, 1418c; hens, 1828c; ducks. 18(20c; live turkeys, 3235c; dressed. 3S3!c; hares, pound. 1518c squabs, dozen, $33.50; jack rabbits, dozen, $22.50. Fruit Apples, California, box, $1.10 1.75; grapes, crate, $11.65; grapefruit, $2; huckleberries, pound, 25c only; lemons, $56.50; oranges, navels, $3.50 4.50; pears, box, $12.50; persimmons, flat crate, 75c&$1.25; quinces, box, 75 $1.50; tangerines, lug. $3.504. Vegetables Mushrooms, pound, 25 30c; artichokes, crate, $2224; beans, pound, J)22c; cabbage, pound, $l194c cauliflower, dozen, $l(g1.25; carrots sack, $11.25; celery, crate. $33.75; cucumbers, English, dozen, $23; lettuce, crate, $1.253.50; beets, sack, $1 1 25; onions, brown and yellow, cwt., $1.25 1.75 at wharf; white. cwt., $.25; green, box, $2.252.50; peas, 1 pound, 10 &22c; peppers, pound, 5&'9c; potatoes cwt., 90c$1.85; sweet, pound. l2c; rhubarb, box. $11.50: summer aauaah. ing, $1.25 1.75; spinach, pound, 45c; tomatoes, southern California, lug, $1.25 2.50; turnips, sack, Sl1.75; brussels sprouts, pound, 77e; garlic, pound. 46c; olives, ripe, pound, 7 8c; chicory, nominal. Receipts Flour, 3989 quarter sacks; wheat, 4000 centals; barley, 10,041 cen tals; corn, 800 centals; potatoes, 1428 sacks; onions, 950' sacks; hay, 228 tons; hides, 1092 ; lemons and oranges, 2850 boxes; livestock, 300 head. Foreign Exchange. Foreign exchange rates at the close of business yesterday furnished by North v e.tern National bank of ' Portland. The amount quoted is the equivalent of the foreign unit in United States funds: Country Foreign unit. Rate. Austria, kronen ..$ .000016 l-ielgium, francs 060000 Bulgaria, leva , 008200 Czecho-Slovakia, kronen 030800 Denmark, kroner 206000 Kngland, pound sterling 4.646250 Finland, finmark 026000 Fiance, francs .' .074H00 Germany, marks , .000175 Greece, drachmas .014200 Holland, guilders .309500 Hungary, kronen t, . 000580 iUly, lire 050900 J ugo-Slavia, kronen 012000 Norway, kroner 189500 Portugal, escudos 050600 Uoumania, lei 006500 Serbia, dinara .012200 Spain, pesetas , .157500 Sweden, kronor 270000 ivrt'itzeriand, rrancs 189500 t hina-Hongkong, local currency . ..530000 tonangnai, taeis .740000 Japan, yen 492500 NEW YORK, Dec. 20. Foreign ex changes, easy; quotations (in ents) Gieat Britain, demand., $4.61: cables. $4.62; 60-day bills on banks,, $4.59. France, demand, 7.42; cables. 7.43. Italy, demand, 5.06; cables, 5.06 Mi. Belgium, demand. 6.81; cables, . 6.81 . Germany, demand, .0148; cables, .0149. Holland, demand, 39.66; cables. 39.69. Norway, de mand, 18.86; Sweden, demand, 26.88. Denmark, demand, 20.50. Switzerland, demand, 18.87. Spain, demand, 15.67. Greece, demand. 1.33. Poland, demand, .0056. Czecho-Slovakia. demand, 3.05. Ar gentine, demand, 38.12. Brazil, demand, 12.12. Montreal, 99 1-32. Great Britain, demand, advanced to $4.62; cables, $4.62; 60-day bills on banks, $4.60 in the later dealings.- New York Produce Market. NEW YORK. Dec. 20. Butter Firmer; creamery higher than extras, 5556c; extras, 53c; firsts. 4754c. Egg; Steady refrigerator firsts, 32 33c. Cheese Firm. Live poultry Steady; roosters, 13c; turkeys, 50c; dressed poultry, firm; tur keys, No. 1 fresh, 4558c. Sugar Market. NEW YORK, Dec. 20. Raw sugar, centrifugal, 5.35c; refined granulated, un changed at 7.19c. SAN FRANCISCO, Dec. 20 -Hawaiian raw sugar, 5.53c. - Calif oraia- Phone your want ads to The Ore gonian. All its readers are inter ested 4a th$ classified columns. WHEAT 0 E Heavy Selling of July Fea tures Trading. STRONG RALLY IS MADE News Fails to Account for Sell ing; Liverpool and Argen tine Advices Bullish. BY CHARLES D. MICHAELS. (By Chicago Tribune Leased Wire.) CHICAGO, Dec. 20, A weakened technical position was disclosed in all grains after a strong opening, and heavy selling of wheat and corn credited to a Chicago trader who was In New York found the markets poorly supported and induced general selling by local longs which carried values off very sharply. The day's break was the largest in some time. At the inside wheat showed 3c under the early top and corn dropped 1 2 K c. . Numerous stop loas orders were caught on the way down. Wheat, however, re ceived excellent support and some of the local bulls who sold out wheat and corn on the early advance reinstated their lines around $1.23 for May wheat and 73c for May corn. Wheat closed on a good rally with net losses of tf2c. the former on December. Corn was off g lc, oats &lc and rye. lc. A feature of the trading in wheat was the heavy selling of July. December and May sold at a new high for the season at the start and July equaled the old high, but there was no enthusiasm in buying at the start despite an advance of l2d in Liverpool. Corn was the first to weaken, and the pit traders in wheat quickly took the bear side, large selling orders in July In the hands of houses with eastern connections quickly making their appearance. There was nothing in the news to account for the selling. Foreign exchange was lower but the general run of news otherwise was rather bullish with a hotter milling demand in Liverpool and rains in south western Argentine. The break uncov ered a liberal export business in Mani- tobas. Corn and oats showed a heavy under tone from the start and failed to rally materially from the inside figures of the day. The belief prevailed that both grains were to have a good reaction, July oats sold at a new hieh for the sea son. Cash corn was unchanged to c lower as compared with, December. Re ceipts, 473 cars corn and 03 cars oats. A liberal export business was done in corn as the result of the break, sales of 400, 000 bushels being reported at the sea board. A large amount of long corn came out during the day and a good part of it had not found a resting place at the close. While houses with northwestern con nections were buyers of rye early, the weakness in wheat brought in increased pressure and the finish was well to ward the bottom. The two northwest markets had 172 cars. V It was said at the close today that while the break in grains had created a more two-side-d opinion among traders the wheat had passed into strong hands and was more strongly held than here tofore. One of the active bulls expressed the opinion that while there might be a further dip In prices they would likely run into support of a good character and rallies would follow. The break resulted more from an over bought pit condition than from any change in the character of the news. A great deal of taking of profits by longs has been on of late and was especially heavy today in addition to selling by local professionals who were working to get out lines on bulges in expectation of a break similar to that of today. ; - - .. Those in the best position to know said that the- big selling of wheat and corn was ay a local operator who was in New York. He has been a seller off and on for a week and today's sales were of greater volume than hereto fore. There are only two more trading days this week for foreign markets as they will be closed for the Christmas holi days on Saturday, while Chicago and American markets will be open as usual. This will leave the trade here without any foreign information. The latter haa not cut much of a figure of late. Wheat markets at outside points were stronger than Chicago showing smaller losses due to more limited selling pres sure and to good support. - - ' The big selling in wheat that started the break was an unusually large order from the east to sell July by Thomson and McKinnon. Bartlett Frazier were also heavy sellers while the grain was absorbed by commission houses in gen era! on resting orders. Buenos Aires wheat closed today at i net gain of lc A late Broomhall cable reported rains in southwestern Argentina. The daily Chicago market letter re ceived by the Overbeck & Cooke com' pany of Portland follows: t Wheat New high prices were estab lished at the opening of the market, but the advance attracted some heavy selling which resulted in the sharpest decline recorded since the market started up re cently. After this wave of liquidation had run its course, local traders gave support and at the close there was every evidence oi a stronger position a suit of the reaction. There was almost no news to which the turn could be at tributed, as the Liverpool market showed strength, presumably reflecting unfavor able crop news from Argentina, where further rains were reported. Washing ton advices intimated that the foreign credits bill along the lines of the Gould plan is likely to be passed at an early date. The weather map showed low temperatures in the southwest, where the gr.owinp crop is wttnout snow protec tion. These factors, especially the pos sibility of a big export outlet, must be recognized in the market and we be lieve advantage should be taken ot such declines as recorded today to make pur chases. Corn General liquidation set In Im mediately after the opening and found the market for a time bare of support. Cash houses supplied the offerings at the start and as prices receded the vol ume of selling by holders Increased. Re ceipts were fairly liberal, but the de mand appeared to be equal to the sup ply, as sales were made at yesterday's basis. Seaboard messages again indi cated export business with sales placed at about 500.000 bushels tor the day. Today's decline in the futures undoubt edly strengthened the technical position of the market and we look for a re sumption of the upward trend. Oats Weakness in other grains led to sufficient selling by holders to over whelm the demand and bring about s decline. Elevator interest prominently identified with the bull side said to be best buyers on the break. The cash market was steady at yesterday's basis. Country offerings to arrive moderate. Rye Lower prices were made on sell inz in the way of liquidation, but the market was not particularly weak and closed with a firm tone. Eastern Inter ests were conspicuous on the buying side, apparently reflecting export sales. Receipts were small and cash trading basis relatively steady. Leading futures ranged as follows: WHEAT. Open. High. Dec. ...$1.28i , $1.28H May ... 1-25 1.2614 July ... 1.16 1.16 CORN. Dec .76 May ... .75i .75 July ... .74 .74 ' LOW. $1.26 1.22 1.13 Close. $1.27 1.24 1.13 -74 .74 .72 .72 .73 . .72 . OATS. Dec 45tf .45 .43 .44 May . .. . (Vi ft -4ft .46 July ... .44 .44 .42 .42 LARD, Jan. May 10.50 10.55 10.42 10.42 10.72 10.75 10.62 10.62 RIBS. Jan. . 10.75 10.75 May 10.75 Casn prices were as follows: Wheat No. 2 hard, $l.281.29. Corn No. 2 mixed 7277c; No. yellow, 7577c t TT1 ECU SHARPLY Oats No. 2 white, 46 48c; No. 3 white, 44445c. Rye No. 2, l92c . Barley 62 67c. Timothy seed J66.75. j Cloverseed 91620. . - ! Pork Nominal. . Lard $10.50. Ribs $10.50 11.50. Primary Receipts. CHICAGO, Dec. 20. Primary receipts Wheat, 1,525,000 bu. vs. 509.000 bu. Corn, 1,724,060 bu. vs. 2,027,000 bu. Oats, 768,000 bu. vs. 585.000 bu. Shipments Wheat, 6S7,000 bu. vs. 300, 000 bu. Corn, 466,000 bu. vs. 562,000 bu. Oats, 484,000 bu. vs. 291,000 bu. Clearances Wheat, 267,000 bu. Corn, 86,000 bu. Oats, 15,000 bu. Flour, 9000 bbls. Cavlots Minneapolis, wheat, 422; corn, ; oats, 33. Winnipeg, wheat, 705; oats, 94; flax, 13. Duluth, wheat, 233; oats, 7. Kansas City, wheat, 255; corn, 57; oats. 27. St. Louis, wheat, 56; corn, 64; oats. 13. Omaha, wheat, 51; cflrn, 35; oats, 13, Cash Grain Markets. Furnished by Jordan, Wentworth & Co., Portland: ST. LOUIS, Dec. 20. No. 2 red, $1.39: No. 3 red, $1.36(&J 1.37. Corn No. 2 mixed, 74 c; No. 3 mixed, 72Vc; No. 2 yeliow, 75 76c; No. 2 white, 75 c. Oats Np. 2 White, 47 C. KANSAS CITY, Dec. 20. Wheat No. 3 red, $1.22L26; No. 3 hard, $1.17 1.2 2. Corn No. 2 mixed, 72c; No. 2 yellow, 7474c; No. 2 white. 72c. Oats No. 3 white, 46 c. DUI.UTH. Deo. cember, $2.67 bid. 20. Flax seed De- Minneapolis Grain Market. Furnished by McCaul-Dinsmore Grain company of Portland: Wheat No. 1 dark northern, good to fancy, to arrive, Sl.27 1.40V4 ; No. 1 dark northern, $l.sms1.4Qtt; No. 1 dark northern, $1.25 1.33 ; to ar rive, $1.25; No. 1 northern. $1.23 1.31; to arrive, $1.23; fancy No. 2 dark northern, $1.29 1.3B ; No. 2 dark northern, $1.21 1.29 ; No. 2 northern, $1.19 1.26 ; fancy No. 3 dark northern, $1.2,1 1.81 ; No. 3 dark northern. $1.17 1.25 ; No. 3 northern. $1.16 ffl 1.23 : No. 1 dark hard Montana, $1.25 1.33 ; to ar rive, $1.25 6)1.32; No. 1 hard Mon tana, $1.22 1.25; to arrive, $1.22 1.24; No. 1 dark hard Minnesota and South Dakota, $1.21 1.23 ; to arrive. $1.20 1.21 ; No. 1 hard Minnesota and South Dakota, $1.20 1.21 ; to arrive, $1.20; fancy No. 1 amber durum, $1.121.15; to arrive. $1.101. 12: No. $1.07; No. 1 durum, $1.01 1.06; to ar $1.07; No. 1 durum, $1.01 1.8; ; to ar rive, $1.01; fancy No. 2 amber durum, $1.101.13; No. 2 amber durum, $1.04 1.09; No. 2 durum, il9cfi$1.03. Corn No. 2 yellow, 6fi67c; No. 3 yellow, 65fir)6nc; to arrive. oc. Oats No.. 2 white, 41843c; No. 3 white. 40 r3)423r! to Arrive 39c. Barley Choice, 6164c: medium good,' j 37!i'ioc; lower grades. nmoMc. Rye No. 2, 83V483c; to arrive, 8314c. Flax No. 1, $2.68 2.69; to arrive, $2.60. Wheat futures Dec, $1.23 $1.22; July, $1.18. May, irali at San Francisco. SAN FRANCIWCO. Dec. 20 Wheat, milling. $2.202.25: feed. $2.202.25. Barley Feed, S1.4o'&'l.o0; shipping, Hay Wheat, $17 2ft: fair. 15(S17; feme oata, $lTfS21; wild oats, $14St16; alfalfa. S19&)21: stock. $1215: straw. $1112 Seattle Grain Market. SEATTLE, Dec. 20. Wheat Hard white, $1.27; soft white, $1.25; western white, $1.24; hard red winter, soft red winter, northern spring, western red, $1.21. Feed and hay unchanged. Winnipeg Wheat Futures. WINNIPEG. Dec. 20. Wheat, Decem ber, $1.10; May, $1.18; July, $1.12. ILL LIS ARE STEADY TRADE AT YARDS QUIET AND PlUCES VXCHAXGED. Fifteen Loads Received, Includ- ' lug Nine Loads of Hogs Brought by Packers. Fifteen loads of stock were received at the North Portland yards yesterday, of which nine loads were hogs brought in direct. The market was without new feature. Prices in all lines were maintained at the former level and the tone of the mar ket was reported as steady. Receipts were 29 cattle, 1663 hogs and 96 sheep. The day s sales were as follows: Wt. Price Wt. Price 15 steers. , 988 $5.15 30 hogs. . . 152 8.75 220 6.50 214 9.50 370 6.50 370 6.50 276 8.75 292 9.00 156 9.00 210 9.00 1 steer. . , 2 cows. . . 1 cow. . . 1 cow. . . 1 cow. . . 2 cows .. 1 cow. . . 1 cow. . . 13 cows. .. I cow. . . I cow. . . 1 cow. . . 1 cow . . 4 heifers I cilf . . . 1 bull . . I bull 13 Irogs. . 16 hogs. . . 6 hogs. . , 6 hogs . . , 5 hogs. . . 65 hogs . .. 600 2.50 975 2.25 1020 2.50 !Mi0 3.00 2 hogs. . . . 51 hogs. . . ' 2 hogs. . . 2 hoes. . , soo 2.00: 13 hogs. . . 815 2.7, t hogs; . . 13 hogs. .. 1 hog. . . . 2 hogs. . . 2 hogs. . . 5 hogs. . . 1 hog, . . . 18 hogs. . . 4 hogs. . . 12 hogs. . . 10 hogs. . . 1 21 hogs. . . 25 lambs.. 12 lambs.. 23 lambs. . 10 ewes. . . 63 ewes . . . 31 goats. 1 heifer. . 2 heifers. 10 hogs. . . 26 hogs. 20 hogs. . . 930 3.00 1020 3. 909 91C 61 1 20- 3 2 185 170 188 460 201 200 225 213 260 9.50 2 00! 9.50 9.50 3 2 " 6.25 9.25 9.00 9.00 9.00 8.75 . 120 3.75 n$ 5.00 140 9.50 .1020 . . 760 188 3.01' 9.15 70 12.50 86 11.50 95 12.00 72 8.75 198 9.50 170 9.50 105 4.00 188 9.50R3 ewes. .. 132 6.00 208 9.25131 goats. 100 2.25 181 8.75 1 heifer.. 020 .50 99 hogs... 186 9.50 2 heifers. 745 4.00 lhog... 350 2.00110 hogs. . . 134 8.75 2 hogs. .. 365 7.50' 90 8.50 19 hoars... 167 9.25 233 8.90 3 31 8.75 235 8.90 2 hogs... 180 9.50 5 hogs.. . 306 6.45 lb hogs 16 hogs 3 hogs... 223 $9.00 3 lambs 103 12.00 Prices quoted at the Portland Union stockyards were as follows:' Cattle Choice steers Medium to good steers Fair to medium steers.... Price. .$ 7.25 8.00 . 6.25 7.25 . 5.50 6.25 . 4.00 5.50 . 5.00 5.25 . 4.50 5.00 . 4.00 4.50 . 3.50 4.00 . 2.50 3.50 . 1.50 2.50 . 8.00 4.25 . 5.00 5.50 . 4.00 5.00 . 8.00 8.50 . 8.00 8.50 Common to fair steers Choice heifers Choice cows, heifers Med. to good cows, heifers. Fair to med. cows, heifers. Common cows Canners Bulls Choice feeders Fair to good feeders Choice dairy calves Prime light calves Medium light calves....... 7.50 8.00 Heavy calves 4.00 7.50 riogs Prime light Smooth heavy, 2503.00 lbs. Smooth heavy, 300 lbs. up.. Rough heavy Fat pigs ; Feeder pigs Stags, subject to dockage... 9.00 fl.50 8.00 9.00 7.50 8.00 6.00 7.50 8.50 9.00 8.50 8.75 4.50 6.00 sneep Hast-of-mountain lambs 10.50) 12.50 Choice valley lambs 10.5O12.50 Common valley lambs...... 8.50 9.50 Cull lambs 6.75 8.50 Light yearlings 9.5010.00 Heavy yearlings-....." 9.00 9.50 Light wethers . 7.50 8.50 Heavy wethers 7.00 7.50 Ewes 2.00 7.00 Chicago Livestock Market. CHICAGO. Dec. 20. (TJ. S. Department of Agriculture.) Hogs Receipts. 23.000. Early market 5 10c higher, later dull; bulk 140 to 200-pound averages, - $8.25 8.30; 210 to 270-pound butchers mostly $8.25; few, $8.30; top, $8.30; packing sows, $7.307.85; desirable pigs, $88.25; heavy hogs. $8.108.30; medium, $8.15 8.30; light, $8.208.30; light light, $8.158.30; packing sows, smooth, $7.50 7.85; packing sows, rough, $7.307.60; killing pigs, $88.25. Cattle Receipts, ' 10,000. Beef steers steady to 15c higher; better grades beef steers reflecting advance; killing quality, plain, early to matured steers, $11.50, some held higher; bulk beef steers, $7.50 9.25; other killing classes steady to strong; stockers and feeders slow, weak; bulk veal calves to packers, early around $9.50, tew upward to $9.75 and above; outsiders handpicking upward $10.50 and above; bulk desirable bologna bulls, $4 4.25; bulk stockers and feeders, $66.75. Sheep Receipts, 14,000. Fat lambs opening steady, slow, few sales made looks steady to weak; early top. $15 to city butchers, $14.75 to packers; five decks 84-pound clipped lambs. $12; sheep and feeders around steady; 110-pound fat ewes, $7.40; comeback feeding lambs, $14.25; feeding ewes, $4.505.50; aver aging 80 pounds and 95 pounds. Kansas City Livestock Market. KANSAS CITY, Mo., Dec. 20. (United States Department of Agriculture.) Cattte 10,000, beef steers, higher; av eraging fitrongi top, $9,50; better grades, The Safety of A Recommended Security A recommendation, means every thing if there is recognized respon- sibility back of it. When you give" your personal recommendation you always have definite knowledge on which to base your judgment. Place yourself in the position of Blyth, Witter & Co. What safe guards would precede the recom- m.endation you would give a secur ity? What steps would you take to make certain that this security met standards and principles upon which you would base your recommenda tion? If you felt sincerely the responsi bility of your recommendation you would obtain expert information on every phase of the company's busi ness. From expert accountants you would obtain facts from the com pany's books. From men long ex perienced in that particular line of business you would obtain a judg ment of the company's general con Blyth. Witter. &. Co. COVER N M E NT- M U N ICI PAL CORPORATION BON DS FOURTH AND STARK, PORTLAND BROADWAY 6481 SAN FRANCTSCO-U0S ANGELES-NEW YORK-CHICAGO-SEATTLE-PORTLAN O $7.759; plainer kinds, $6 7. 50; can ners and cutters, steady to strong; most canners, $2.40& 2.50 ; few up to $2.65 ; mpst cutters, $33.50; all other classes steady ; bulk cows, $3.75 sf 5 ; better grades, $5.506; mapy heifers, $5.50 6.50; bulk bologna bulls, $3.754; in ferior kinds below $3.75; practical top on vealers, $9; few up to $0.50. - Hogs 13.000, fairly active; 10c to io higher; mostly loc higher; packer top. $rs.25; shipper top, $8.H; 160 to 180 pounds, mostly $7.55)8.10; bulk de sirable, 200 to 270 pounds, $8.108.20; mixed weights and quality, $7.90Cd8.06; packing sows, strong to 10c higher, $7.407.(10; stock pigs, steady; bulk, $7 6? 7.25; few at $7.35. Sheep 60100, killing classes generally weak to 25c lower; Colorado, $14.10 14.25; fed yearlings, $11. 50()12.35; few wethers, $8; odd lot ewes, $67. Omaha Livestock Market. OMAHA, Dec. 20. (United States De partment of Agriculture.) Hogs 12,000, market mostly steady; closing dull ; 5c lower; bulk mixed and packing grades, $7.257.75; bulk butchers, $7.008.05; top, $8.10. Cattle 6000, better grades of beef' steers and she stock strong; poor grades slow and barely steady; best steers, 1333 pounds, at $10.20; bulk steers, $78.50; other classes generally steady. Sheep 9000, lambs steady; bulk, $14 14.45; top, $14.50; sheep strong ; wether top, $8.5o; ewe top, $7.50; feeders weak; top feeding lambs, $14.25. San Francisco Livestock Market. SAN FRANCISCO, Dec. 20. (Federal State Livestock Market News Service.) Cattle Beef steers, good grade, $7.75 8; medium grade, $7 7.50; common grade, $6 6.75; beef cows, good grade, $5.75G; medium grade, $5.255.50; common grade, $4 5; canners and cut ters, $2 3.50; bologna bulls, $3(3)4.50; calves, 150 to 200 pounds, good and choice, $7.507.75; 200 to 250 pounds, good and choice, $7.25 7.50; 250 to 300 pounds, good and choice, $6.75(7.25; over 300 pounds, $5.506.50. Hogs Good and choice, grain fed Californias, 150 to 200 pounds, $9.75 10; 200 to 250 pounds, $9)9.50; 250 to 300 pounds. $S8.50; over 300 pounds, $7 7.50; smooth sows, 250 to 300 pounds, $6.50&7; rough sows, 250 to 300 pounds, $5.50&6; over 500 pounds, $4. 50 5.50. Sheep and lambs Full wooled lambs'. good and choice grades; $13.5014; me dium grade, $12.5013.50; ewes, medium and good, $5.506.50; wethers, medium and good, $8.o010. Seattle Livestock Market. SEATTLE. Dec. 20. Hogs Steady receipts none. Prime, $0.30(g9.50; smooth heavies, $7.25 (fi 8.25 ; rough heavies, $0) i.&o; pigs, $8.o058.85. Cattle Steady, receipts 26. Prime steers, $6.75 7.25; medium to choice, $6.507; common to good. $5.75(5)6.50; best cows and heifers, $4.755; common to good, $3.504; canners, $1.503.50; light calves, $7.50 & 8 ; heavy calves, $4.505. QUOTATIONS ON DAIRY PRODUCTS Coast and Eastern Markets for Butter, Cheese and Eggs. SAN FRANCISCO, Dec. 20. (United States Bureau of Agricultural Econ omies.) Butter Extras, 50c; prime firsts, nominal; firsts, 40c. Eggs Extras, 49e; extra pullets, 49c; undersized No. 1, 47c. Cheese California flat fancy. 25c; firsts, 23c; California young American fancy, 28 c. CHICAGO. Dec. 20. Butter Lower. Creamery extras, 53c ; standards, 50c ; extra firsts, 4951c; firsts, 45(g) 47c; seconds, 42 44c. Eggs Lower; receipts, 2158 cases; firsts, 48(g) 49c; ordinary firsts, 43 45c; miscellaneous. 4547c. Poultry Alive, lower; fowls, 13186c springs, 17 c; roosters, 13c; turkeys, 35c; geese, 20c. SEATTLE, Dec. 20. Butter and eggs unchanged. The Oregonian is the medium I through which many people supply their wants by using its classified wluinns. Telephone Main 7070 A visit to theliome on the island of CORSICA is but one of the memorable incidents filling the 66 Summer days this winter of the AMERICAN EXPRESS Luxury Cruise on the Mauretania to tke Mediterranean From New York February 7 A 66 Days of Enchantment , The MAURETANIA your home all the way Visiting Azores,Madeira,Cadiz, Seville.Oibraltar.Tangier, Algiers.'Monte Carlo, Nice, Naples, Pompeii, Rome, Athens, Constantinople, Palestine, Egypt, Corsica, Lisbon, Southampton, London (5 days), Cherbourg. Send for illustrated announcement W:::..--.,S. ... : 3f.kzz. USSP SS West Keats Dee. Slst I USSB S3 West Kader Feb. 1st YOKOHAMA, KOBE, HONGKONG, MANILA USSB S3 Wawalona....- Jan. 8 USSB SS Montague .....Jan. IS USSB SS Eastern Sailor Feb. 15 For rates, space, etc., apply to roadw ay 5360. 500-522 Board of Trade Bldg. Portland, Oregon. dition. ' From recognized appraisers you would obtain unquestionably low and conservative property values to establish the equity back of the security. The dependable earnings over a period of years would influ ence your judgment. After collecting all the information and making certain of every require ment of safety, then you could say, "I recommend this security fox safe investment." Investors who have purchased Blyth, Witter & Co. recommended secur ities have the satisfaction of knowing that their invested funds are safe. They have relied on our recom mendation and the results have been satisfactory. Our list of securities, from which you can judge the type of invest ments we recommend, will be sent to you without obligation upon your written request or call at our office. STEEL CONCERNS MERGE BRIER HILL AXD H'OUXGS TOWN CONSOLIDATE. Trend Is Toward 3Iore Econom ical Operation; Future of Industry Optimistic. BY O. A. MATHER. (By Chicago Tribune Leased Wire.) CHICAGO, Dec. 20. The steel Industry was the center of today's business news. The announcement of another merger was in line with the trend toward more eco nomical operation, while the mid-week trade reviews presented an optimistic pic ture of the industry as a whole. The directors of the Brier Hill Steel company approved the plan to sell the properties to the Youngstown Steel & Tube company. The consolidation is to be effected by the exchange of one share of Sheet & Tube common stock for four shares of Brier Hill common, while the $5,000,000 Brier Hill preferred stock either will be retired at 150 or exchanged for Sheet & Tube preferred stock on a share for share basis. The merger will constitute the largest independent steel concern in the country, with the exception-of the Bethlehem Steel corporation. It u'ill have a pigtroa capacity of $1,350. 0O0 tons annually and a steel production of 2,200,000 tons. Its book value will be approximately $180,000,000. "Greater activity than had "been ex pected of December marks the steel trade in all leading centers," the Iron Age says. "The slowing down commonly looked for in the laat third of the month will be less than in years since 1917. Producers look with increased confidence to a larg operation of their plants In the first quarter of the new year." "More general strength is displayed in the iron and steel situation than at any time in several months," the Iron Trade review says. "This is due largely to heavy accumulation of orders for future delivery." Another move In the direction of longer term credits for agriculturists was made by the federal reserve board today. Bankers acceptance of six months' ma turity, instead of three months as at present, drawn by growers of staple agri cultural products or co-operative mar keting associations, were made eligible for purchase and rediscount by the fed eral reserve banks. This change should be of material as sistance , in financing orderly marketing of crops. The longer credit had been asked by many farmer organizations as being more nearly in accord with the turnover period required by the farmer to market crops for whose production he borrows money. Metal Marketts. NEW YORK, Dec. 20. Copper Firm, electrolytic, spot and nearby, 14 c; fu tures, 1414c. Tin Easy. Spot and nearby, 37.75c; futures, 3838.12c. Iron Steady, unchanged. Lead Firm. Spot, 7.257.35c. Zinc Quiet. East St. Louis, spot and nearby delivery, 7.057.15c. Antimony Spot, 6.256.50c. Chicago Potato Market. CHICAGO, Dec. 20. Potatoes, steady on good stock, dull on ordinary stock. Receipts, 90 cars; total United States shipments, 319 cars; Wisconsin sucked ASTORIA AND WAY POINTS STKS. I.URMXK AND UNDINE Daily. Kxcept Saturday. 7:S0 P. M. Fare to Astoria One Way $3.00 Round Trip. Week-End Round Trip $2.30. The Harklnn Transportation Co. Broadway 6344. Alder-St. Dock. of NAPOLEON BONAPARTE AMERICAN EXPRESS Travel Department for. Sixth and Oak St. Broadway 506a, or Olds, Wortman & King, At water 4800. North China Line COLUMBIA PACIFIC SHIPPING, COMPANY Operating United States Government Ships DIRECT FREIGHT SERVICE WITHOUT TRANSHIPMENT BETWEEN PORTLAND, OREGON, and YOKOHAMA, KOBE, SHANGHAI, TAKUBAR (Tientaln) DA1REN round white, S0c$l cwt.; mostly 85 90c cwt.; ditto bulk No. 1. 85c $1 cwt.; Minnesota sacked and bulk round white. No. 1. 75 h5c cwt. ; Idaho sacked rus sets No. 1. few sains $1,151. 25 cwt. Royal Mail "The Comfort Route" EUROPE New York Cherbourg Southampton Hamburg ORIl'NA ...Ian. 10, Feb. 21. Apr. M OKHITA Jan. 31, Mar. 14, May 5 OKt'A Mar. SI OHIO Apr. 21 DIRECT PASSE.NUKR SKRV1CB From Pacific Coast Porta to U. K. Regular Sailings. South America New York Havana Panama Peru Chile ESSEQUIBO Dec-. 30 EBRO .. :.Jan. 24 "B" Steamers 14, H" tons' displacement. Largest in the Trade. Regular Failings from CRISTOBAL to WEST COAST of SOUTH and CENTRAL. AMERICA; also from ENGLAND to BRAZIL and Argentine. Kpeeial Reduced Karen for Round South America Tours. The Royal Mail Steam Packet Co. The Pacific Steam Navigation Co. The Nelson Lins Ranler Ithlg., Seattle. Wash,, or uuy local ateamithip agent. Direct PaHNeneer Sailing; ENGLAND via PANAMA CANAL S. S. "HIGHLAND HEATHER" Leaving Seattle, Portland early February direct to British ports. First and intermediate class passengers carried. Apply to Loral Agents The Royal Mail Steam Packet Company 204-L-OK Itainler ItlilK., Seattle, WaNh. I'houe Elliott 4U44. SS. Admiral Farragut SaiN from Municipal I)o-k No. 2 Wednesday, Dee. 27. 10 A. M. Every Wednesday Thereafter.. FOB SAN FRANCISCO LOS ANGELES. SAN UIEGO. Honolulu Service Sailing's From Sun Francisco H. F. Alexander Jan 4, 5 F. 51. H. F. Alexander Jan. 20, 5 P. M. Ticket Office. 101 THIRD ST., COK ST ARK. Phone Broadway 5481. SCANDINAVIAN AMERICAN 4 , DENMARK, NOR i. way. SWEDE N, S GERMANY end If B A L X 1 C STAT1S Ijniiea stales u an. " Oscar II Jan. 87 Ilellir Olav. .Feb. l. aa-:3 Frederik VUIFeb. 27 Large, Fast. Steady. .Oscar II... ..Mar. S Comfortable Steam- l nited States Mar. 24 ers Spacious State- iHellijr Olav. .Mar. 29 rooms and Prome-IKrederik VIII Apr. 10 nace Decks lOscar II Apr. 1 Unexcelled Cuisine. Dally Concerts. For PasseuKer Kates: 105 3d St.. Portland H0N.MLU The popular S. S. I.CKLINE" (13.000 tons) sails for Honolulu and Hawaiian ports Dec. 23, Jan. 27. March 3d. Cabin Rates 90 and $100. For Information or reservations apply MATSON NAVIGATION CO., Seattle and All Authorized Ticket Agents). AUSTRALIA H0N0UJUj,SUVA, NEW ZEALAND The Well-Equipped Royal Mail Steamers "Makura" (13,500 ton). Dec. 23, Feb. 23. "Niagara" (20,000 tons), Jan. 26, Mar. 30. Sail from Vancouver, 1.' For rat en, etc., aily Canadian Pacific Railway, 65 Third at., Portland, Or. Canadian-Australasian Royal Mail JJne, 41 Hooting' bU. Weat, Vancouver, U. C. I roeroawy