24
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
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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
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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