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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (March 18, 1900)
22 THE SUNDAY OREGONIAN, PORTLAND, MAECH 18, 1900. STRATHGYLE SAILS Big Liner For the Orient by a Round-About Route. WILL FINISH AT SAN DIEGO Isle of Arran IlencJiea Portland Aucrg;ellie in rorl-Uxnpqna Life- Crciv'ji Good Work-Xotcs. The Strathgyle, the second of the Cali fornia & Oriental Steamship Company's liners to load at this port, left Portland at 1 o'clock yesterday afternoon, bound for the Orient by way of San Diego. The Strathgyle Is an Immense carrier, with a dead weight capacity of over 7000 tons, but she had so much cotton awaiting her at San Diego that she could not take all of the freight that was offering her In this city. She was dispatched by T. M. Stev ens & Co., and has on board from Port land over 35.000 barrels of flour, and 205.000 feet of lumber. Her cargo 13 distributed among feveral different ports in the Orient, and is much the same as the usual Ori ental cargo by the Dodwell liners, which run out of here regularly. The greater part of the cargo Is for Hong Kong, there being for that port 29.7042 barrels of flour, valued at 576,995; lumber, 206,000 feet, valued at 51750, and 40 barrels of scrap iron, old horeshoes, flies and broken glass. For Yokohama there was 4C5S& barrels of flour, valued at 511,950. For Kobe, 317 barrels, valued at 5S00, and for Manila, 500 barrels, valued at 51300 The steamer left down in charge of Pilot Al Betts. and should reach Astoria early this morning and cross out this after soon. GALLAXT LIFE-CR.EW. Umpana Station' Men Perform .Hero ic AVorlc in Snvinc Property. FLORENCE. Or., March 13. In the news reports regarding the recent accidents at Sluslaw, but little mention was made of the meritorious work of the-Umpq.ua llfe eaving crew, whose efforts were largely the means of saving about 540,000 worth of marine property in the two disasters at the time of the grounding of the tug Mag 'gie and schooner Berwick. Word was sent by messenger to Captain John Bergman, of the Umpqua life-saving station, and, re gardless of the storm and adverse tides that made the beach, almost impassable. Captain Bergman responded promptly to the call, forded two large creeks and by traveling all night reached the scene of the accident next morning. The Captain and crew then labored night and day. Several times they carried the 1200-pound anchor out into the Ice-cold surf, ana planted It; then, after attaching the cables, worked the capstans for hours on every Incoming tide. The schooner was thus worked out on the beach far enough to be reached with the hawser from the tug Roberts. On the night of the 14th of Feb ruary' the Roberts pulled the Berwick into the channel. Just after the schooner reached the channel the Roberts' hawser was caught In her propeller. Joseph Henderson, of the life crew. Im mediately seized the end of a small line, and. though the water was 15 feet deep, and the nisht vry dark, fc:rlCFs"y plunged in. and, reaching the bottom of the r.ver, tied the line to the hawser. This enabled the crew to raise the hawser and secure It. The surfboat then pulled "both tug and schooner to a safe landing on the rivci beach. This daring leap of Hender son's In the darkness, like all the labor of the lite-crew, was performed In a quiet manner, as though only a common, everyday experience. After the Berwick was afloat, Captain Bergman and crew returned to the station on the Umpqua. On the 24th, the schoon er Danlelpon, In tow of the tug Roberts, parted the steel tow line In her chock while crc&sing the bar, and before another line could reach her drifted on the baach. near where the Berwick had struck. This brought Captain Bergman and crew again to the rescue, and the same earnest, hard labor was repeated, the result being that the schooner Danlelson Is at this writing loading lumber at the Spruce Point mill, and tug Maggie is safe on the river beach, south of Florence. OCEAN FREIGHTS. HIern ItatCB Still Demanded for Gral nnd Lumber Ships. The tonnage situation for the week Just closed showed but few changes as com pared with the week previous, and the en tire Pacific Coast Is still without a dis engaged grain ship In any port. The San Francisco papers are still holding the Tin to Hill on the disengaged list. Dut sbe waa reported chartered several weeks ago at 37s Cd for end of March cancellation, and her charterers are probably trying to drive a good bargain In the way of recharter. The Commercial News says that she can get 41s 3d, bpt she demands 42s 6d. The latter Is the rate at which a limited amount of tonnage could be secured for Portland loading, although no fixtures have been made. Lumber rates are still high, wtih the de mand for ships unsatisfied. For prompt loading at northern ports rates are as fol lows: Sydney, 52s 6d53s 3d; Melbourne or Ade laide, 60s61s 3d; Port Plrle. 5Cs 3d57s 6d; Fremantle. CSs 9d(f?70s; Geraldton, 70ef?71s 8d; "West Coast, C0sC2s Cd; Pjsagua Range and Callao Range, GOsCls 3d; Buenoa Ayres, C7s 6dg70s; Shanghai. C0sls 3d; Kiao Chow, Cls 3d2s Cd; Japan. 5Cs 3d 57s Cd; Port Arthur. CGs 3dG7s Cd; Tien tsin. 67s CdfijCSs 9d; New Chwang, C7s Cd CSs 9d; Vladlvostock, 55s(g56s 3d; South Africa, 72s 6d(g75s; United Kingdom, 80s-3 82s Cd. The above rates show Increased strength for Australia and "West Coast Vessels are scarce and not easy to ob tain, even for late loading, except at vers full figures. READY FOR HER. REPAIRS. Columbine to Receive a. General Ov erhauling; nt Seattle. The United States lighthouse tender Co lumbine will go Into the Moran shipyards today or tomorrow, says Friday's Seattle Post-Intelligencer, for extensive repairs to her hull, boilers and machinery. The Moran Bros. Company received the award several days ago. Bids were opened Feb ruary 13 in Portland by Captain Langfltt, of -the United States Engineers. There were seven competitors, and their bids ranged from 511,780, that of the Moran Bros.' Company, to 514,445. The Columbine is tied up at the White Star dock. The work to be done on her Is really in the nature of a general over hauling. While she has not been allowed to lapse Into an unseaworthy condition, there is much to be done to put her In first-class order. MADE A GOOD RUN. Ocltlabanm Town Two Ships Up the River in Fast Time. The British ship Isle of Arran made an all-night run on her trip from Astoria, and reached Portland at 4 o'clock yester day morning. The Ocklahama. which towed the vessel up, made a very good run. She had the Harvester, a large American bark. In tow with the Isle of Ar ran for over half of the distance from Astoria, and was only 19 hours on the way. Including the time lost in docking the American hark at Stella. The Isle of Ar ran went to Greenwich dock to discharge ballast, and as soon as she Is ready will commence loading wheat. Unless there is some unforeseen delay, she will finish in time fp figure with the March fleet, which will be rather slim without her. The Poseidon, which has been held up In quarantine at Astoria, has been released, and will leave up this morning. BIG LUMBER BUSINESS. British Columbia Attracting: a Large Fleet of Vessels. The lumber business In British Columbia has assumed big proportions, and at the present time nearly all of the mill ports across the line are working on big orders, which require a large number of vesHels to handle tho output. The Renee Rick mcrs, which has Just been released from quarantine at Victoria, has gone to Che malnus to load, and at that port there is at present receiving lumber the Silo and the Creedmore. for United Kingdom, and the Wrestler for Melbourne; while the Glenalvon, now at Seattle, will be over In a few days to load for United Kingdom consignees. Coming to the mills, and due to arrive at Intervals during the next GO days, are the Crown Prince and the Peru for United Kingdom: the Drummuir for Melbourne; the Glenesslin for Australia; tho Emille for United Kingdom; the Ly man D. Foster and the Repub'Ic for Mel bourne; the Arcthusa for United Kingdom; tho James Drummond for Sydney; the Elwell for Australia; the J. B. Thomas for Adelaide; the Hesper for Melbourne: the Holywood and the J. B. Brown for South Africa. These will keep the mill busy for some little time, all being due to load between April and July, and their aggregate cargoes totaling more than 25, 000,000 feet. SCHOONER FLOATED FREE. Experience of a Constcr That "Went on the Nestaccn Sands. ASTORIA, March 17. The small, two masted schooner Petrel arrived in port this morning from Nestucca, and will go up the river tomorrow. She is now owned by John Kiernan, of Portland, having been recently purchased by him. She was built lost Summer, and made one trip to the Columbia, taking back a cargo of provis ions. In sailing out from Nestucca later the wind died out and she went on the sands. Several efforts were made to get her off, but they were unsuccessful, and she was sold to Mr. Kiernan, who Intend ed to try to get her off the coming Sum mer. Recently, with a high tide and fa vorable wind during the night, she came off without assistance, and was found floating around the harbor in the morning. Her resting on the beach did her no in Jury, as she was well built. The schooner Jessie left out this morn ing for the halibut banks, and Is expected to be gone about 10 days or until such time as she gets a full cargo of halibut. SAILED FOR GUAM. Brie: John D. Spreckels en Rontc to a Neir Field for Trnde. SAN FRANCISCO. March 17. The brig John D. Spreckels hai saii-d for Guam, carrying malls and freight. This Is the first vessel which has ever left here for the Ladrones with a cargo of merchan dise. The bulk of the cargo Is for the stocking of a store, to be owned and oper ated by the Western Commercial Com pany, at Guam. There is also a telephone plant on bosra. which will "be put up and operated by the company. Tides nt Astoria. (Week beginning March 19.) k M M M a a DAT. R : j n- ' : . High water I I Monday 221. S.5 3:00 7.2 Tuesday 2:52! S.t 3:42 G 9 Wednesday 3:2J S.t, 4:2S 6.5 Thu's-ay 4:10 S.4 5 :5 C.2 Fr.dav 5:r0 8.1 G:35 b.O Saturday 6:05J 7.6 7:a0 6.2 Sunday 7: 7.5 9:0j 6.7 Low water Mondav S:5ol 0.4 8:43 2.1 Tuesday 9:331 0 3 9:17 2.5 Wednesday 1:14 0.; 9:3b 2.9 Thursday ll:03i 0.4 10:49 3.2 Friday 12:02 0.611:F5 3.4 Saturday 1 1:11 0.S Sunday l:20j 3.e 2:12 O.S Heavy SalvnRTc Demanded. SAN FRANCISCO. March 17. Suit was filed today In the United States District Court by James F. McSherry to recover 540.0u0 from the Alaska Commercial Com pany, as salvage In saving two loaded barges which went adrift in a storm on tho Yukon River last July, while in tow of the steamer Louise. Marine Notes. The framework of a large river steamer, for service below Celilo. on the Columbia River, is rapidly going up at Paquefs ship yard. The new craft will be about 200 feet long. Steamboat Inspectors Edwards and Ful ler went up to Oregon City Friday, and inspected the little steamer Grey Eagle, which Is towing cottonwood logs for the paper mill. The big Oriental liner Abergeldie arrived in yesterday morning and was put through quarantine and custom formalities in a hurry, leaving up at 1:20 yesterday after noon. She was expected to reach Portland about midnight, and will enter today. As she was longer on the passage than was expected, she will be given very quick dispatch. Domestic and Foreign Ports. ASTORIA. Or.. March 17. Arrived at 8 A. M. and left up at 1:20 P. M. Steam ship Abergeldie, from Hong Kong and way ports. Arrived at 2:30 Schooner Petrel, from Tillamook. Sailed Schooner Henry Wilson, for Gray's Harbor. Re ported outside Barkentine Arago, from Honolulu. Condition of bar at 5 P. M. moderate, wind south, weather cloudy. San Francisco. March 17. Arrived Barge Wahkiakum. In tow of tug Sam son, from Columbia River; steamer Ho mer, from Portland: steamer Coquille River, from Gray's Harbor; schooner Webfoot, steamer Rival, from Wlllapa Harbor. Sailed Schooner Western Home, schooner Antelope, for Coos Bay. Hoquiam Arrived March 15 Schooner C. T. Hill, from HIlo for Hoquiam. Sailed Schooner Charles R. Wilson, from Aberdeen for San Francisco. Tacoma Sailed March 15 Ship Charm er, for Honolulu. Puget Sound Arrived March 16 Bark entine Skagit, from Honolulu. San Diego Sailed March 15 British steamer Carlisle City, for Yokohama. Seattle Sailed March 16 Steamer Al Ki, for Skagway. Arrived March 17 Steamer Humboldt, from Skagway. Liverpool, March 17. Arrived Lucan la, from New York. Naples, March 17. Arrived Augusta Victoria, from Constantinople for New York. Taku, March 17. Arrived Olympic, from Tacoma. Yokohama, March 17. Arrived previous ly City of Rio de Janeiro, from San Francisco for Hong Kong. .London, March 17. Arrived Manltou. from New York. Yokohama, March 17. Sailed Belgian King, for San Francisco. Naples. March 17. Sailed Aller. for New York. Antwerp, March 17. Sailed Fricsland, for New York. Havre. March 17. Sailed La Touralne, for New York. Liverpool, March 17. Sailed Bovic, for New York. Bremen. March 17. Sailed Friederlch der Grosse. for New York. New York. March 17. Sailed Palatia, for Hamburg; Etrurla, for Liverpool; Statendam, for Rotterdam, via Boulogne. Arrived Campania, from Liverpool. Manila Arrived March 15 Port Albert, from Seattle via HIlo. San Francisco, March 17. Sailed Steam er Queen, for Victoria; steamer Mineola, for Nanaimo: bark Kato Davenport, for Prince William Sound; barkentine Re triever, for Port Hadlock; steamer Jeanie. for Seattle; steamer Progreso, for Ta coma. London. March 27-ri3lled Mesaba, for New "York. NEW YORK STOCK MARKET CONTINUES ALMOST ENTIRELY IN HANDS OF PROFESSIONALS. Bank Statement Was a Surprise and Acted as & Bnll Factor Foreljra Financial rfe-rra. NEW YORK. March 17. The stock mar ket continued almost entirely in profes sional hands today. There were erratic fluctuations and active speculation in Third Avenue ovor a range of 351. and Sugar continued to share with that stock the largest amount of attention. Tennes seo Coal advanced 3 points and gave ! sympathetic strength to other Iron and Bteel stocks on' the action of the directors In placing the common stock on the divi dend list by ordering a disbursement of the 2 per cent after providing for the TONNAGE EN ROUTE AND IN PORT. Vessels Chartered or Available for Grain Cargoes From the Northwest. FOR PORTLAND. Name. Flag and rig. Master. Aug. 4JMarechal Villlers Nov. 13!Arcus Fr. bark RIonald jHunter Abbott Nlcoll !Pateraon Whelan Blanco .Caddell jHassclman .Manson (Anderson jBarrett i Decent iMeredith McBrido Putt uones IBremner iBuchanan (Maxwell jKuhlmann iJones Hearn Crowest Plander iGrlfllths Br. ship Dec. William Law Br. ship Br. ship Jan Vrn1iir IForthbank Br. bark Br. bark Br. bark Br. bark Ger. shin Dec. 20 Lizzie Bell BcrwlWnhlrm Jan. HIFifeshlre Mar. 121 isajaae Penthesllea Feb. 12 Br. ship Llnllthrowshira .Br. snip Br. ship Br. hark Br. snio Br. ship Br. bark Br. bark Er. ship Br. bark Br. bark Ger. shin Feb. 14 Decean East African Annie Thomas Feb. 16 Thornllebank Grenada Lvdrata Asplce Beechbank PInmore Alice Australia iBr. bark Genista Br. ship Br. ship Ger. ship Br. ship Br. ship Br. ship Br. bark Br. ship Leicester Castle Nesala Mar. 5i Rivercdale Conway Franklstan Tnvrc-c:VifTrt Ward Atkinson Peattle Feb. 24John Cooko Magee ,Curd (Bandelln Tyers jBaako Leopold Crowe 'Jenkins iWIlkins 'Curtis Flndley iBehrinr 'Rubarth juieopoiis Mabel RIckmers 'Br. bark .Ger. ship i Br. ship ;Ger. ship 'Ger. ship iBr. ship Br. bark 'Br. ship IBr. ship 'Br. ship Ger. ship JGcr. ship Orpalla Rickmer RIckmers RIgcl Semantha W. J. Plrrie St Mlrren West Lothian Harlech Castle SIriua Robert RIckmers Totals. Antwerp ... Calcutta.. ., Honolulu .. Singapore ... Hong Kong ...42S1 1 Shanghai ...1S96( Liverpool .12,407 j Nagasaki ...1651 j Nantes ... ...36511 Hlogo .... Total tonnage en route, 73,450. Same time Same time in 1D7, 14.03L RAIN TONNAGE Name Flag and rig. Master. Feb. 25'SamarItan Mar. 14iPoscidon Mar. 15lsle of Arran Br. bark Br. ship Br. Fhlp Dexter Bush Davies Total tonnage In the river, 5164 tons. Same time In 1SD9, 32,590 tons. Same time in 1S2S, 29.637 tons. In 1S9T, SS17 tons. GRAIN TO.VNAfJE E. ROUTE TO PUGET SOUND. Namo. Flag and riff. Oct. ISiAchnashle Nov. 15jElginshire Nov. lBJBattlc Abbey Oct. SOIMount Stuart Glenosll Jan. SIRhuddlan Castle Br. bark Br. ship Pasiful Hannah Br. snip Br. shlo McGhlo Olsen Br. ship Stevenson Roberta Olson Beard Lever Harrio ur. en:p Br. ship Br. ship Br. ship Br. ship uroaicK castie Shandon Dec Jan. Imberhorne Carnedd Llewellyn Brussels Chas. Cotesworth Wanderer Jan. 29 Br. bark Br. bark Br. bark Br. ship Tupman Griffith Tonkin Jan. Feb. King Arthur Cumberland Robertson Quayle Eva no Thomas Moesch Johnson Turner Gllmour isr. snip Br. bark Br. ship Br. bark Br. ship Br. ship Br. bark Conway Castle Jessomone Nile Cabul Glenard Fortevlot Henriette Ger. ship Socman Total tonnage en route, 40,893. Same OZtAIN TONNAGE Name, Flag and nr Master. Dec. 27IStronsa Feb. l2A:legianco Feb. 23Inverclyd6 Br. ship Br. ship Br. ship Hcnnlng Evans May Total tonnage In port, 4635. Same tlm claims of preferred stockholders to accu mulation of several years' dividends. There was a good market for American stocks In London, and an early advance In sympathy here, but the weakness of the local traction stocks and uneasiness over the bank statement caused a sag ging market up to the time of the ap pearance of the statement, when there came a smart rally. A sudden drop In Third Avenue to below 63 and renewed weakness In the other traction stocks checked tho advance and settled senti ment But the closing- was fairly steady and showed net gains except In a few stocks. The bank statement was a surprise In many particulars. Wagers had been free ly made that the surplus would be en tirely wiped out The fact that it was reduced a little more than half, therefore, had a sentimental effect ngainst the bears. But the surplus Is so small la any event as to leave no great difference in the con dition reflected by the banks. What was of special significance was the loan con traction of $11,311,400. This can only mean that the process of liquidation has com menced of the extensive loans taken out by the banks here and elsewhere to buy Government bonds for the purpose of tak ing advantage of the new refunding law. Chiefly from this cause the loans of tho New York clearing-house banks were ex panded from January 21 to March 10, no less than $S6,965.000. The large applications making- to the Treasury Department for the conversion of present bonds Into new 2s gives promise of prompt relief for the money market by the disbursement of the premiums on the old bonds. It is highly significant ajso that the New York Subtreasury begins to reflect the payment of pensions in Its reduced lrain on the banks, thus promis ing relief from the factor that has caused most uneasiness regarding the money market On these accounts the belief Is held that today's statement marks tho culmination of the decline in the surplus reserves. The quotations made In today's money market were hardly more than nominal, as loans made on the Stock Ex change on Friday afternoon carry over until Aronday. Not the least surprise in the bank statement was the fact that, as a result of the first weok the new bank currencv law is In oprmtion. there is an actual flrorn ronrded In the circula tion of Nw York hTnt-; of tr2.ZM. Speculative sentiment n ! sfvk mar ket has been iipndc'1 lur' ; fh f between a rr"irtAn tb tv Tie Kk currency and novrnment bond rpfind-t: law was bound to resu't in on Invlirnmt- Ins flow Into the veins of circulating me dlum and a doubt whether the effects would become operative soon enough to counteract the factors constricting- the money supply In New York and threaten ing a pinch in the immediate future. The continued dullness of the demand for stocks during the latter part Of the week has prompted some throwing over of stocks by tired holders, who had bought to discount the effect of the new law, and were disappointed at the tardiness of the effect In manifesting Itself. There waa s6me calling of loans on account of the diminishing reserves of cash by the banks and some selling of stocks In consequence. But the selling seemed to be confined to professional traders in stocks and those of lesser Importance. Only part of the week's gains were lost and the general level of prices Is somewhat higher. While speculation has been quiescent, there has been Investment buying, espe cially in the bond market, affording an ef fective support to confidence in the In trinsic value of securities, however they may be affected by the immediate exi gencies of the money market. The diffi culty in the New York money market is due to the continued drain of cash into the United States Subtreasury. This week From. Consignees. 1705JNantes 226! 1543 n twerp 115 104! .T.. Y. & Co. .A. Berg. 1C51 Singapore 1S9C Calcutta Honolulu 1 Jt. ". at. -o. 1332 103C Liverpool Honolulu Antwerp Nagasaki London Antwerp Hamburg Honolulu S M.. W. & Co. 901 1331 591 B.. G. & Co. 6 34J B., G. & Co. ...IB.. G. &Co. 32J M.. W. & Co. 1677 1663 135' 1S36 1SSS 1763 Acapulco ICto DnitnHn 1S69 30 210fiHonolulu 2350IShanghai T., Y. & Co. i&o Honolulu 2154iSta. Rosalia 22S6Nagasaki 20K , 2097 Honolulu 1718Shanghal 2009lShanghaI 1670!KIaoChou 205S Hamburg E. Baker 1776 Shanghai l&OONagasakl 2147 Honolulu 175SfShanghal 2652 H logo 1835 Hiogo Shanghai Hong Kong Nagasaki Shanghai Shanghai T.. Y. & Co. 170S 1914 1S70 2211 2516 l$55!Yokohama jiai'nu.iK r.uiig lMCjuonoiuiu 1736IJanan 2l74HIogo ..C077 ..1028 ..5143 ..1705 ..S457 Santa Rosalia 4123 Acapulco 1763 London 1663 Hamburg 3S94 Yokohama 1853 In 1S39 16.CS0. Same time In 1S9S, 54,770. IN THE niVErt. From. Agents or Charterers. Berth. 1997lShanghal lEppInger I Col. No. 2 170S Honolulu iiv., G. & Co Victoria 1759Sta. Rosalia Port. G. CoiGreenwlch Master. From. Consignees. 2334ILIverpooI R. P. RIthet R. P. RIthet M., W. & Co. AL. W. & Co. I2U3S Liverpool 11465 Antwerp 115SjLondon zi93L.onaon R. P. RIthet 11993 Cardiff K. f. Kiinet 11745 Hong Kong Cardiff Liverpool Hamburg Liverpool Guatemala Shanghai Hongr Kong Hlogo Honolulu Acapulco Hlogo Rotterdam Antwerp Antwerp '1397 il97 1G0S i 991 1031 (2717 M..W. &. Co. 4S 1562 1740 1591 1796 20'9 1227 AL. AY. & Co. 17S6 962 1705 Cardiff time In 1SS9. 1S.767. ON PUGET SOUND. From. Agents or Charterers. Berth. 1939Antwerp HSOiHonolulu B., G. & Co. Tacoma B.. G. &. Co.iTacoma l516Hamburff B., G. & Co.lSeattlo e in 1S39, 12.690. lt has amounted to $4,300,000 bringing the totau for the three weeks last past to over $16,000,000. As the total surpius of Govern ment revenues for the month of March thus far amounts only to between $6,000,000 and $7,000,000. it is ciear that there have been liberal disbursements on Government account at other points than New York. But there is a continued demand, never theless, from the Interior points on New York for currency. These evidences of an active demand for money, as we.l as the continued demand for loans upon the New York banks, really go to show the strength of the business situation in the country. And they are so accepted in Wall Street. Aluch conflicting opinion continues to be offered from more or less expert sources regarding the extent to which bank circulation will be expanded under the new law and as to Its effects on prices and business. The conviction Is general that there will be a liberal expansion of bank note Issues, and that the effect on tho money market will promptly be felt to the extent of the 10 par cent Increase in the circulation of bonds at present depos ited to secure outstanding circulation and of the premium on tho same bonds paya ble upon their conversion Into the new 2 per cents. Assurance Is felt that the payment of this premium will be made out of the funds in the Treasury If nec essary to avoid disturbance In the money market, rather than by drafts on deposits In National banks. But even in the event of drafts on those deposits. It Is evident that the Government bonds placed by the banks with the United States Treasury as security for these deposits will be thereby released and made available as a basis for additional circulation. The circular Issued by the Treasury De partment explaining tho provisions of the new law clearly demonstrates a marginal profit on circulation, even at the present high prices ruling for the Government bonds, which is equivalent to upwards of 106 for the new 2s when Issued. The ruling prices for th bonds have proved sufficiently attractive to bring large offerings from Investment holders. Including savings banks, to whom they are not available to take out circulation. The proceeds of these sales seeking rein vestment have made an unusually active market for high-grade railroad bonds, and ar likely to continue to do so If prIos do not rfsnrh prohibitory figures. It ha. tpfn artrucd that the b"k potps $.- ii)-av o ro qnlek'v ort of rlrcu'ntio whon t"i. iiomjin-'' fo- h"nd-f,,-han'l nsr of currPnc- fall" off nrd the "" ' nrrev turns from th Interior towards Nw York, owing- to tne fact that they cannot be counted to make up the required re serve of lawful money agalni.t deposit liabilities, while at the same time going to swell the deposits. But It must be remembered that even at times when the net shipments of currency are largely In favor of New York, there continues a large volume of shipments In response to Interior demands. Thus, in January and February of 1SD5, while the net receipts of currency from the Interior by New York banks amounted to $30,565,000, there were actual shipments of currency to the inte rior of $19,474,000. This allows a margin for a process of sorting and selection which would afford opportunity for keep ing the bank notes out. These promised benefits of the new lav? are the potent influence in keeping the price of stocks firm, in spite of the imme diate exigencies of the money market Funds are not available for large specu lative buying, but holders are unwilling to make concessions to sell. The result is dullness and firmness. Confidence in the business outlook Is unimpaired and is strengthened by the February foreign trade statement, showing both the total volume of exports and the excess of ex ports over Imports beyond all precedents for that month. Events this week indi cate that a termination of the war in South Africa has been brought measura bly nearer, and the resumption of the gold supply from the South African mines, whenever It shall be In any sort assured, is bound to have a stimulating effect on th marl'ets of the world. The market for bonds has been more ac tive than that for storks, for the reason"?" a'ready stated, and prices have advanced. United States new 4s. registered, declined l?i: do. coupon. 1: the o'd 4s. V; the 2i. 5s and 3s. coupon, 1, and do registered, in the bid price. NEW YORK FINANCES. Banks Lost Nearly Seven Millions Tliroaa-h. Trcnsnry Operations. NEW YORK, March 17. The Financier says: The Associated Banks of New York lost j 56,$25,700 cash last week as the outcome of tneir operations wun tne Treasury and the interior, but this decrease, instead of coming altogether out of surplus reserves, as has been the case for a month or more past, was partially made up by reduced reserve requirements, traceable to lowered deposits. The statement was a surprise in several respects, the calling in of $11, 311.400 of loans furnishing an example in this respect. To what Influence the shrink age In loans Is due. Is rather a difficult problem to answer, but as more than hall the decrease originated with one larga bank, through which the JSO.OOO.COO Stand ard OH dividend was paid. It Is quite probable that the Incident named had more or less to do with the change in the combined showing. The refunding of bonds. Involving as it does some complicated operations, prob ably figures in the same connection. As a result of the outgo of cash and the ex pansion In loans, deposits fell off $15,343,000. This, of itself, reduced reserve require ments fo,S35.750. The excess funds In bank are now J2.6S6.425 above the 25 per cent limit, but the fact that exchange at Interior cities is hardening, foreshadows not only a cessation of the flow of money from New York, but fresh accessions to the local supply. The most interesting problem Just now concerns the issue or new note circulation. The only expanflon looked for here at present is the 10 per cent extra granted on existing amounts outstanding. Bankers expect that the new notes w'll trickle into circulation slowly, and not come In a flood as has been pre dicted. There is a prevalent impression that a test of the new law's possibilities will not be afforded until the demands of the crop season are felt. Correspondence with .country hankers in dicates a movement toward additional cir culation, both by old and new banks, but. on the other hand, many conservative in stitutions hav Improved the opportunity to sell their old bonds at prices that give them a3 much profit as they would have realized on circulation for one year or more, according to pr'ces paid for the bonds originally. The bank statement is os follows: Reserve, decrease $ 2.9S9,9'W Loans, decrease 11.311.40) Specie, decrease 5,433,104 Legal tenders, decrease, 1.372,603 Deposits, decrease 15,343,000 Circulation, decrease 62..-.01 The banks now hold $2,6SG,425 in excess o: requirements. Forelprn Financial News. NEW YORK. March it. The Commer cial Advertiser's London financial cable gram says: The markets here were busy today, cele brating St. Patrick's day. Otherwise, they were Idle, but the tone was hard on the reported collapse of the Free State re sistance. It is hoped the Transvaalers will follow suit. The war loan was at 1 1-1G premium. The allotment is expected on Wednesday. Americans were very quiet, but no moves were upward. Farls strongly supported Tintcs, which rose 1. The Bank nought 30.000 gold in bars. Aloney was a shade easier: half of the large amount due the Bank was repaid. DAILY CITY STATISTICS. Real Estate Transfers. M. F. Prince nnd R. C. Prince to Jane E. Kirkland. lots 3 and 4. block 6. North Alblna. April 22. 1S39 $ 40) F. A. Fischer to Caroline Fischer, lot 1. block 99, Stephens' Addition. No vember 1, 1S95 1 A. G. Rushlight to J. H. Olson, lot 1, lock 129. Stephens' Addition, March 17 1000 Jacob Duback and wife to Alary' E. Bailey, N. 33 feet of lot 6, block 196. Portland Park and Jackson street, Alarch 17 1 Jacob Duback and wife to Ida J. Steele, W. 1-3 lots 16, 17 and IS, block t . 40. Sunnyslde; and the center 1-3 of earn lots, Alarch 17 1 L. A. Bailey and wife to Jacob Duback and wife, N. 23 feet lot 6, block 136. PorUand, Alarch 1" 1SW Ida Steele and AIntthew Steele to -Jacob Duback and wife. W. 1-3 and center 1-3 lots 16. 17 and IS, block 40. Sunnyslde. March 17 1233 Kalherlne E. Sloane to E. J. Hsiand. lot 2. block 10, Caruthers' Addition, Alarch 14 M R. Livingstone et al. to same, same, February 6 S-0 R. Livingstone, administrator Kenneth Alaclcay estate, to Katherne E. Sloane, lots 2 and 6, block 10. Caruth ers' Addition. March 14 262 Matthew Randall et ux.. to Joseph AlacEachern. parcel of land In fic t'on 20. T. 1 N., R. 2 E., April 12, 1SS9 , John J. Burnett and wife to Paul Wesslnger, lot 8. block 151, Couch s Addition. Alarch 14 4u0 Sheriff, for S. Wade Hampton et al., to Solomon Llpman, lots at South Water and Williams streets. March 8 ............... "90 BulldlnK Permits. Frank Cllef, repairs to cottage, on Fifth street, between College and Lincoln. $600. Louis Ebeling. repairs to house on Sixth street, between Stark and Washington, $123. Births. February 23, boy, to the wife of George A. Weltman, 222& First street. March 11, boy. to the wife of F. L. Wright. 211 Gibbo street. Alarch 6. boy. to the wife of Rudolph Palitzsch. 723 Hood street. Alarch 11. girl, to the wife of Alvin G. Hamblln. 395 East Couch street. Alarch 11. girl, to the wife of Mike Ep stlne, 6SS Third street. Deaths. Alarch 16. Emma Alatilda Keller, age 3 months 13 days, 831 Cleveland avenue, pneumonia. Alarch 16, Sister Mary Joseph, age 71 years, city, cancer. Alarch 17. Ann Jackson, age SS years 7 months, 185 Thirteenth etreet. old age. March 16, Alfred G. Tucker, age 79 years. Good Samaritan Hospital, chronic bron chitis. Contnsrious Disease. Lee McPeck, age 13 years, 1C6 Union avenue, measles. ROOM FOR GLASS PLANT PORTLAND COULD SUPPORT A BOT TLE FACTORY. All Bottles Used in Orepron and Wash ington Imported From Beyond the Missouri River. Several years ago Oregon's possibilities in the line of glass manufacture were looked Into, but nothing was done. W. Harrison, of Denver, who recently came here from San Francisco, has looked ever the field, and believes that a bottle factory- would prove profitable. In an In terview yesterday he said: "The smelter undertaking Is fairly under way, and bids fair of working to a suc cessful issue, but the progresslvo busi ness people of Portland must not rest upon their laurels and suppose that on this issue the development of the vast resources of Oregon depends. There are many other vast interests to consider. great Industries to establish and oppor tunitles for the Investment of idle capl- I tal, employment of labor and use of Is.;- ent material. In one direction this can be found In the promotion of glass plants, the initial of which should be a bottle plant No part of the United States of fers a better opportunity or Is so iso lated from such an Industry'- Ninety five per cent of the bottles used on the Pacific Coast come from east of the Missouri. Less than 5 per cent are made In the Pacific states. . San Francisco has the only bottle works on the Coast, and has made a good thing out of it "It seems incredible that in an enor mous fruit country like this, that In Ore gon and Its northern neighbor states every' citizen Is dependent on the far East ern states for so positive a necessity. No housowlfe can pack her fruit, no brewer his beer, no cheml3t his drugs, without sending 2000 or S0Q0 miles for the vesse'l to pack In. It is estimated that for these two states alone 250 carloads of fruit Jars. 350 carloads of beer bottles. 75 of demijohns. 150 of prescription ware. 123 of lamp chimneys, to say nothing of In numerable other things, are Imported an nually. Nor do these figures take into account the Immense business in filled packages, such as beer, pickles, catsups and other condiments, medicines, liquors, fruits, jellies, jams and countless other things that are now wholly Imported, but which can profitably, wholly, or at least In part, be manufactured and packed here. "Around a bottle factory would of ne cessity spring a number of other Indus tries. Because of the reduced cost of the chief factor, the package, which ought to and can be made here nearly as cheap ly as anywhere, brewers would more than compete and enlarge their plants; pre serve factories, medicine-packers, rork factories, label-printers, carton-makers, designers, mineral-water works and many others would commence; boxmakers will increase their output, more wasted resources would be utilized, mere ground cultivated, more discoveries encouraged, and more men, women and children em ployed; hence more Immigration and prosperity. "The establishment of a bottle plant Is no chimerical project It is not a new branch of science. These plants exist and are profitable under close competi tion elsewhere thousands of miles from here. Why not here, where the necessi ties are great and competition nil? All of the materials required fcr such a plant are around us or can be imported nearly as cheaply as to the Eastern states, which depend upon Liverpool for soda ash, one of the chief requisites. While our fuel Is more expensive. It Is greatly offset by the enormous freight protection we would save. True, much skilled help would have to be Imported, but Is not even that what Portland courts? The capital required is not great, but. if it were, surely we have much here Idle, or at least not employed as profitably as In building up one such needed Industry-" EAST SIDE CLUBS ORGANIZE Democrats and Socialists Gomez'- Hall. Aleet at The first regular Democratic club organ ization was effected on the East Side at Gomez hall last week. It Is the Tenth Ward Democratic Club, and it is proposed to enter Into the campaign in that portion of the city with energy. L. T. Peery' was elected president nnd Newton AlcCoy sec retary. It Is proposed to hire a hall and hold a series of public meetings In the near future. Also to effect a permanent organization. Literature and speeches from the Democratic point of view will be employed to educate the people along that line. In this hall also a Socialist Club has been formed for the revolution of the present conditions and salvation of the age. At the meeting held Thursday ad dresses were delivered by Francis AIc Kenna, Air. Stephens and other orators appealing for acceptance of socialist the ories. The attendance was slim, but this dl not dampen the vigor and hopeful ness of the addresses, and tho club hopes to have larger gatherings in the future. Second Oregon Comedy. The Dramatic Club of General Summers Camp. No. 1. Second Oregon, will give the comedy, "That Only Girl," at Gomez' hall. Alblna. next Friday evening. The proceeds of the drama are to be used for the benefit of sick and .for the relief of those in need, of the Second Oregon. For several weeks those who will take part have been rehearsing, and this week there will be several dress rehearsals. A pleasing entertainment may be expected. Following is the cast of characters: Ab- ner Howland. O. Cochran; Oscar Lorlng (his ward), Clarke Burrows: Tom How land (his nephew), H. C. Schroeder; Pol Icy Newcomb (Insurance agent), H. Wil son; Splcer Spofford (an adventurer), J. Hunter: Airs. Howland (Abner's sister-in-law), AIIss L. A. Wilson; Lina Howland Abner's adopted daughter), AIIss N. Pow ers; Alice Howland (Airs. Howland's daughter). Mrs. Nellie Hlltabldel. Lost a Valuable Horse. Louis Allller. who lives in Lincoln Park, had the misfortune to lose a valuable work horse Friday evening, which he had Just purchased. He was driving along Grand avenue In the evening, and, when ISSSSeSSSSSSSSSS6SSSSStSSSa3W2SSSSSSS3S3S3SSSSS3 5. Use CASCARETS. Surprising-, isn't it, that within three years our sales are over 5,000,000 boxes a year? That proves merit Casca rets do good for so many others, that we urpe you. to try just a 10c box. Don't put it off I Do it today. J CANDY When you ask for Cascarets, don't let the dealer substitute something- else. There is nothing- else as pood as Cascarets, nnd if you are not pleased we pay your money back. 10c, 25c, 50c, all drug- gists. Sample and booklet free. Address Sterling'Eemedy Co., hicago or New York. Best for the Bowels & SSSSSS29GSSSiS9SS9SS3SSesSSSJSaS between East Alder and East Morrison streets, the animal was attacked by colic, and before anything could be done to af ford relief the fine horse was stretched doad on the street It is a very serious loss to Mr. Allller. He purchased the horso only two weeks ago, paying ?1C0 for him. The animal had been worked during the day, and thero did not appear to be anything the matter with him. Foreman Cndxrell's Chicken Ranch. Foreman Cadwell, of the Highland chemical engine, has gone into the raising of blooded chickens on an extensive scale. He keeps an Incubator in operation con stantly, and now has on hand a large number of little orphans. Air. Cadwell se cures the eggs only of the best bloods, and tho result is that he always gets a fine breed of chickens. He has about 100 on hand, and has about 50 eggs In the In cubator. He takes much pride in his chicken ranch. East Side Notes. You can call It a big cut or a slight de cline In prices, but see Field-Campbell Company's ad. In "New Today." H. W. Miller,' of Alontavllla, Is recover ing from a painful operation performed a few days ago for the removal of a cataract from one of his eyes. He had been troubled for a long time, but he now hopes that he will be restored. Henry Denllnger, Jr.. and wife will shortly leave for New Mexico for tha health of the latter. Their home Is at In dependence, but they have been m Port land for several months. Their prepara tions for starting on their trip are about completed. Alontavllla Lodge. No. 124. I. O. O. F.. gave a ball last evening in honor of St. Patrick. Independence hall had been se cured for the event, and good music was provided. There was a large attendance of the young people of the neighborhood, and a good time was had. Airs. Dunn, mother of Richard Dunn, whose leg was fractured several months ago, has so far recovered as to be able to return home from the hospital. Her re covery Is considered remarkable, consider ing her age, which Is S6 years. The frac ture .was above the knee of the left leg. HAYFORD IN NEW ROLE. Portland Swindler Calls Forgery Contempt of Court. Goorgo Hayford, who erstwhile figured In Portland as an attorney, a forger and an all-around confidence man. Is posing In the East In a new role. He claims to have been Incarcerated in prison for con tempt of court In order that he might expose the corrupt practices of the prison officials. It will be remembered that he was arrested in St Paul by Detective Ford, of this city, in December, 1S9S; made a sensational leap from the train in Ida ho and escaped from the detective; waa recaptured several hours later; brought to Portland and sent to the state prison next month and served 11 months. The following appears in the Literary Digest, an Eastern publication of high class, in its issue of Alarch 10: "Judge George Hayford, of Salem, Or., Is the most unique convict in the world. He was the former Attorney-General of Oregon, and is one of the best-known authorities on criminal law In the United States. The reason for this Is that hid sentence was self-imposed, for contempt of court, and pronounced for the purpose of gaining access to the state prison as a convict for the purpose of studying tho penal system of the state and alleged cruelties to which prisoners are subject ed. When he entered the prison he did so without his Identity being known save to a few. His Jailors were kept in the dark as to his purpose, and he was com pelled to undergo the same treatment ac corded to other prisoners. His work was the same, his fare was the same, in fact, every feature of the prisoner's life became his. There were other anomalies prac ticed In the name of the law and Jastlce. and many deficiencies betrayed In the pro visions for tho prisoners. Many of these can be readily remedied, and he expect3 to inaugurate elaborate reforms as speed ily as his report can reach the authori ties." Hayford was sent to prison for obtain ing $30 from the Eggert-Young Company on a worthless check; 525 from Robinson .t Co.. and $28 from Louise W. Barrett All the checks were drawn, on the Farm ers' & Alechanics' Bank, of Los Angeles. These were only a few of his peculations In Portland. His genius and versatilltv are further Illustrated by the ease with which he procured a razor and removed hla hirsute adornments on the occasion of his escape from the train In Idaho. Ills sudden change of bill from convict to philanthropist and lecturer and writer on sociological and ethical topics is char acteristic of a man who was too bright and fair to last. IB Vox et Pretorin. Roberta shook the Free State tree. And forever since he'e Been as bury as a bee Picking up the quinces. Baking- fruit up by the peck. While tfee swift Transvaalers tre!c Northward to some other nek. And Paul Kruger winces. Boberte soon may change the tett Books from which they're spelling; Little burghers may be next In good English yelling-. To the medieval wreck Comes the drumming- Rcolnek From Australia or Quebec. Hustlers great at selling. Roberts has his menu card9 Printed and will steal a March on Paul's Pretorlan guards. For his acts reveal a Method, while his colors deck ilany a kop, and at his beck Comes the avenging Roolnek. O'er the swift Tugela. March 1C H. F. Rodney. a - False Alarm. An alarm was turned In from box 54 last night at 11:30, but the department, on ar riving at Fourth and Ankeny. could find no fire. Several keys belonging to the box are kept within the radius of a block, but no one could tell which of these had been used. BUSIMSSS 1TE3IS. If nnby Xs CMttlncr Teeth, Be sure and use that old and well-tried remedy. Mrs. Wlnslow's Soothing Syrup, for children teething. It soothes the child, softens the gum, allays all pnln. cure wind colic and dlarrhoet CATHARTIC 409