Sf JF (UUT ! -- ( 'ftrf :v:r THE SUNDAY OREGONIAN, PORTLANDS (OWING CHEAP MONEY FINANCIAL S1XTATIOX IS PORTLAND IS EAST. rmlnc Trade and Bnlldlnsr Op- ntlona Keep Cash In Circulation ,iatera and Forelsm Finance. us continue to point to lncreas- i arge crops and good prices, and the command of any one who prise of merit, which requires 'ia cheaper In Portland today Jenver, Kansas City. Omaha or :e other cities of the Middle West, kare not prepared to say why this they state that It Is a fact, and Klness la generally taking advant- t bbbing trade is growing steadily. Lmplalnt Is made that collect'ons Rule slow, but this Is attributed Uc that a good deal of last year's li still unsold, and It Is believed "this matter will remedy itself In due time' "With the movement of wool, which will1 begin In o week or two, will come li creased activity, and money will begin to flow from Portland, to return again shortly. In " largely augmented volume. Lambing hao progressed so favorably, un der the Influence of a balmy spring, that growers look forward to the most pros perous reason they have known for years, end expect to be In splendid shape finan cially as soon as they begin to get their wool on the way to market. Locally, money Is going Into buildings to a large amount, not big business blocks, but residences and tenements, and those who build have good real estate mortgages to give as security for what they need. The threatened carpenters strike, which looked for a time as If It might hold up building, has. It Is believed, been averted, and the coming Summer will see Invest ments In building that will aggregate a very large amount. SEW YORK STOCK MARKET. Favorable Dnnk Statement Came as an Asrecnblc Snrprlae. NEW YORK, March 31. Wall street was treated to an agreeable surprise to day In an unexpectedly favorable bank statement. The most sanguine prelimi nary estimate of the gain In cash by the banks for the week on Interior currency movement, and the Subtreasury opera tions, dlM'-.exceed J2,j.000. Tne actual return-ka gain of nearly JG.OOO.OCU. The -kof this large Increase In cashH, cxcepUble. It may bi due Karthe shipments of cur rencyB by the banks have lnclufKortlon of their new note K receipts have mndtB'rs. The process of so 'JB'ouId a re'H cash available resB Indicated bsjrV of receipts stKior wHjh process the he the gold In actual I lake them avallablo ltt the banks. Sanation of the In- ..oans have been paid ' Item shows that the tanks for stock mar- tor April 1 sottle- I offset the liquidation Government bonus surltr for note is- nCesT TlWajjoan expansion of 13,280,000. Had It not been for the unex pectedly large gain In cash, the Incrcane In reserve requirements thus Involved would have made an Inroad upon the sur plus. It was pome fear of this showing that caused yesterday's hesitation and un easiness in the stock market. The same feeling was perceptible to some extent n the early trading today, but It gave way to the renewed buying demand, especially for the iron and steel stocks, and after the publication of the bank statement the strength became general and the market closed active and strong at substantial net gains all through the let. The bears In pugar were relieved from their panic of yesterday by the assertions of officials of the company that the sugar war was still on. But professional trad ers handled new short contracts In sugar In a gingerly manner. The stock dipped 4 points at the opening, but did not go within more than a point of as low as that again, and rose at one time a frac tion above yesterday's high level. The stock was very feverish and erratic all day. People's Gas was strong on reports of the absorption of the Ogden company, and failed to yield on denials of that re port. There has been active demand for securities during the whole week, which has embraced pretty much the whole of the list of railroad stocks. Many stocks in which no transactions had been recorded for months have been brought forward to a conspicuous place In the trading, and the number of differ ent stocks traded In has amounted to 150 or 170 in a single day. showing the great breadth of the market. The average day's business has been close to 1,030.000 shares, and although there has been some con gestion of business In stocks of the great railroad systems, the activity 'In the main has been unusually well distributed. The stocks of Industrial corporations have not shared In the strength of railroads, but have, on the contrary, reflected pressure to sell until the shorts were driven to cover later In the week. Those which have shown the greatest weakness have been affected by special causes, but the tone of the industrials generally showed that they are believed to be vulnerable to the same causes of weakness as those directly affected. The large and general buying of railroad securities can only be explained as due to confidence in the soundness of values at the present level of prices. The level of Intrinsic values In securities naturally varies with the prevailing Interest rate, active business and opportunities for prof itable use of money there tending to bring securities on the market to realize funds for use In the money market. The effects now In evidence of the operation of the new bank currency and Government bond refunding law give assurance that the needs of the very active trade nil over the country for a circulation medium will be met by this law. Money reserves of banks are thus guard ed against encroachment, and security holders feel Insured against a rise. In In terest rates which would depreciate tho value of returns on their holdings. Added to this is the assurance that the present rate of earnings of railroads must main tain an increased distribution of profits to stockholders and additions to the value of equities of railroad stocks. While the present large volume of earn ings of railroads Is due to the very gen eral traffic which Is transported, the con servative course of railroad managements In accumulating surpluses and In making liberal outlays for permanent Improve ments, the present large profits give a feeling of confidence to stockholders In the continuity of the return on the hold ings. The tendency of the railroad man- pents In the last few years to make -outlays for permanent works on ?ys. Is bearing fruit In the re- Irements of renewals of etruc- krk of the same nature still 'n les promise of still further '.future. Improvements In motive power nent are also having tbelr kcriase In tralnloads and de-lon-pille cost of transporta FiWvntlal value thus added Be fagh credit attained, mak- ithe refunding or renewal of Increased Interest charges. rf control or Influence over knd the prosperous busl ine country tneae form a solid basis for the Improvements In prices of the railroad stocks and bonds. The demand bad come alike from specu lators for a rise, from Investors and from foreign buyers. The foreign demand has been a promi nent feature of the week, and has aroused much discussion as to whether It repre sents renewed fixture of foreign capital In American securities. The conviction has grown up that this Is largely specula tive with a view to selling out on a rise. The upward movement of sterling ex change In favor of London buying of se curities, which has amounted to 1 cent In the pound during the week, disclosed that remittances were not being made for the foreign buying, but holdings were being carried by loans secured In New York. Much diversity of statement and opinion has been elicited for foreign brokerage houses as to the actual shipments of se curities which are being made to London. But they seem agreed that they are by no means as large as recent purchases of stocks attributed to London account. In London these Is some disposition to attrib ute the demand for and strength of Amer ican securities to the account of American operators who use the London market In preference to New York for reasons best known to themselves. In the Industrial list, the Immediate causes of weakness have been the gloom; forebodings emitted by the president of the American Sugar Refining Company, of the prospective reduction In dividends, ne cessitated by destructive trade competi tion and the heavy valuations for taxa tion placed upon New York public fran chises. That so well entrenched and so long successful an industrial combina tion as the Sugar Company should offi cially admit that competition had deprived Its business of any profit, gave a cheek to the confidence of holders of stocks In other Industrial combinations In the power of such combination to prevent or defeat new and destructive competition. The squeeze of the shorts In sugar did not dissipate the sentiment. The buying of railroad bonds ran up to very large proportions during the week. The market was very broad, but the larg est demand was for low-priced bonds, whose securities are Increased by an added surplus of earnings, or on which the re turn Is contingent upon Increased earn Ings. United States old 4s declined i. the 2s refunding, when Issued, and the Ss Vi. and the new 4s "i In the bid price. The 2 advanced H cent. NEW YORK FINANCES. Banka Make a Henry Gain In Cash and Increaae Tteserrca. NEW YORK. March 31. The Financier says: The New York banks made an unexpect edly good showing for the week ending March 31, surplus reserves showing an In crease of H.018.8S0. rising to J3.S3S.150. The gain was entirely In the form of cash, as both loans and deposits expanded for the first time In a number of weeks. The Increase In loans amounted to S3.2S0.S0O a very moderate advance when the ac tivity In the stock market Is taken Into consideration. This Increase, coupled with the addition of 5,933,900 to the banks' re ceipts of cash, account for the rls? of 37,700,200 In deposits, and, as the latter. In turn, called for an additional reserve of almost 32.000,000. the excers reserve does not show as heavy an advance as would have been the case otherwise. The statement Is much more favorable than had been anticipated, but it Is rather dlfTcult to trace the origin of the heavy receipts of each. It Is known that the banks received something like 31,600,000 from tho Treasury, but the Interior re ceipts were not so heavy. One million In gold came from Cuba during the week, but this does not figure to the full extent in the statement. One feature of the statement that Is worthy of attention Is the gain of JS73.900 In National bank net circulation, the total Issues of notes stand ing at present at 120.13S.600. This does not represent the total of applications already made, and It Is anticipated that Increases will be noted regularly hereafter. While this, of Itself, does not Imply lower rates for money, the only deduction possible Is that quotations will remain easy for a considerable period. A factor not to be Ignored Is the advance In foreign exchange rates over the past week or two. Various explanations have been advanced for thti. but the fact remains that eisier money here will make for a continuance of a higher exchange level. The banks ought to continue to ga'n from the Treasury as an Incident to the refunding operations, and even though Eu rope may continue to purchase American securities, the experiment of adding an unknown number of millions to the cur rent money of the country Is apt to lead to some very curious complications In ex change markets. Normally, the only out let for too much money Is export, or a wild Inflation of speculative values here. Neither may occur, but If too much bank money Is Issued either Is porslble. The weekly bank statement shows the following changes: Surplus reserve. Increase t4.01S.r50 Loans, Increase 3.20,901 Specie, Increase 3.20S.OM Legal tender. Increase 2S15.900 Deposits, increase. 7.700.2Oj Circulation. Increase S75.9C0 The banks now hold S9.83G.1S0 In excess of legal requirements. Forelffn rinnnclnl News. NEW YORK. March 31. The Commer cial Advertiser's London financial cable gram says: The boatrace Interfered with the mar kets here today, but the tone was firm. Americans are rising quietly. Atchison preferred and Wabash bonds were most In demand. Paris Is still buying tlntos at SSS. The Bank bought 23.000 In gold bars. There was a big turn-over in the money account, at the end of the quarter, but ample preparations had been made. The Bank did a small businert, and half the amount due was renewed. Paris check. 25.70. Specie Export. NEW YORK Mnrrh 1 r.--.. !.. and silver from this port to all countries for this week aggregate f7S5.95S silver bars and coin, and $25.762 gold. Mlnlnic Strike Ended. SPOKANE. Wash., March 31. A special to the Chronicle says the strike In the mines of the Nelson district, British Co lumbia, is ended. The mines in the Nel son and Ymlr districts will pay the uni form wages of 33 25 a day. It Is distinctly a concession on the part of the mine man agers. The strike started 10 months ago. and has caused great loss In British Co lumbia mining districts. a i Leaxne Convention Rate. CHICAGO. March 31. The Western Passenger Association announced a one face rate, plus 32. to St. Paul and return for the National Republican League Con ventlon at St. Paul July 17. 66 71 $9 Breaks up Grlp'lnfiuenza. The use of "Seventy-seven" and a little common sense will carry you through the Spring without Illness. Before laying aside "77' for the season. Investigate the other Specifics, made by Dr. Humphreys, by asking your druggist or sending for a free copy of "The Specific Manual; a chapter on Diseases of Children. Humphreys' Homeopathic Medietas Co.. Cor. William A John Eta, N. T. COWS CAMBRIDGE WON EASILY THE THAMES REGATTA SOMETHING 'OF A FIZZLE. Oxford Practically Beaten Before the Race Bes;an Twenty Leng-ths Behind at the Finish. PUTNEY, England. March St The 57th annual boat race between crews rep resenting the Universities of Oxford and Cambridge was rowed today over the usual course, from Putney to Mort Lake. Cambridge won easily in IS minutes, 47 seconds, official time, Oxford being much distressed and about 20 lengths behind at the finish. The race was favored by magnificent weather. The bright sunshine attracted Immense crowds, which from an early hour congregated along the course on steamers. In boats, on the bridges and on the buildings overlooking the scene. Every point of vantage was crowded In spite of the general belief that It would be a one sided contest. The dark blues, as chal lengers, were the first to take the water, and were loudly cheered. They were quickly followed by the favorites, Cam bridge, whose reception was very enthu siastic The tide was quite strong, and considerable difficulty was experienced in getting the boats Into position. Oxford won the toss, and chose the Surrey sta tion. Colonel Wlllan. who umpired Yale and Cornell at Hanley, acted In the same capacity for Oxford and Cambridge. He effected a capital start. The two boats took up their positions at 130 P. M., and started at 1:5S. The light blues Immediately shoved to the front, rowing with rare power and In splendid form. At the Duke's Head, they were a quarter of a length ahead. In the first minute. the-Cantabs rowed a stroke of 41 and Oxford rowed 40 to the minute. At Walderz, about one mile from the start, Cambridge was two lengths ahead. Passing the Crabtree. Cambridge was 14 seconds ahead, and off the Sacchar ine works tho light blues were leading by six lengths. As the Cambridge boat passed Thorneycroft, nsating the three mile post, the light blues led by 10 lengths. Oxford then began to show signs of dis tress, and at the Devonshire Meadows, over three miles from the start, 11 lengths separated tho two boats. At Barnes bridge, about 3 miles from the starting place. Cambridge was 30 lengths ahead. Cambridge finished very fresh, and pad. died past the stakeboat at Mort Lake, the easiest kind of winners. Oxford, however, came In for a full share of the cheering Tho Oxonians stuck gamely to their work, but the stroke set them early In the con test proved a great deal too much for some of the men In their boat. Without any bustling. Gibbon and his men forged ahead and gradually Increased their lead. After the mile post the contest ceased to be a race. Even this performance was minimized by the fact that Cambridge won on one of the strongest flood tides that hat marked a race day in years, and In perfect weather conditions. The crowds were In no way diminished from the tremendous proportions of recent years, but there wai no chance for enthusiasm. Just a few generous cheers for Oxford were given as she trailed along, at times hidden from the leader by the twists in the river. It Is a long time since the race was so bar ren of features. If pressed. Cambridge probably could have smashed all records. Oxford is offi cially estimated to have been beaten by one minute, but, as a matter of fact, the dark blues had ceased rowing before they reached the winning post, and about a quarter of a mile separated at the finish one of the best from one of the worst crews that ever appeared In this classic event. At no time In the race did Oxford appear to make any serious efforts to catch up with their rivals, who led from the start. Tho losers were beaten berore the race began, and the hundreds of thousands that blackened the banks of the Thames realized It. CLAY PIGEON SHOOT. Deer Islnnd Clab Beata the Blind Slonrxha, 112 to 01. The Deer Island Shooting Club defeated the Blind Slough Shooting Club yesterday afternoon by a score of 112 to 91. The match, which took place on the grounds of the M. A. A. C. Rod and Gun Club, In Irvlngton, was witnessed by many sports men, and the best of good will prevailed. One of the conditions of the contest was that each sido should consist of six men, but as two of the Blind Slough team failed to put In an appearance, the num ber was changed to four on a side. Considering the high wind that pre vailed ail through the afternoon, the scores are remarkably good. In an after match. Cox downed 23 birds out of 30, and Dr. Davis shot 10 straight birds the first time he ever worked at traps. The scores of the match were: Deer Island Blind Slough Montelth 3JJCOX M Streeter 33JPeterson 25 Gulst 2.1.GII1 21 Culllson lSJMoreland 19 Total 112 Total 91 The following, not In the match, shot at SO birds, with the following results: Par ker. 30; Glllam. 30; Lewis. 29: Caldwell. 17. In the 10-bIrd shoot, that came next, the following scores were made: Honeyman, S; Thome. S; Montelth. 8: Ellsworth, 7; Bateman. 7; Gulst, 7: McGUU 5; Culllson. 5; Bun-ell, 4; Miller. 4; Davis, 3; McKln ney. 3. In the next 10-bird race the scores were: Cox. 10: Davis. 10; Thome. 8; Culllson, 7: Montelth. 7: Bu'rrell, 7; Gulst, 7; Honey man. 5; Glllam, 5. The contestants then shot at 5 pairs of doubles, and knocked down tho follow ing: Cox. 8; Montelth. 7; Culllson, 6; Da vis. S; Thome, 6; Honeyman, 5; Glllam, 3: Burrell. 3. Four men, styling themselves the "Has-Beens, have Issued a challenge to any four men of the M. A. A. C Rod and Gun Club to a 10-blrd match, for anything, from a marble to a gold mine. and It Is now a question what four are going to have the first chance at them. THE RUNNING RACES. Yesterday'a Wlnnera at Oakland and Little Rock. SAN FRANCISCO. March 3L At Oak land the weather was fine and the track fast. The results were: One mile, selling My Gypsy won. Pres tome second. Sorrow third; time. 1:42. Four and a halt furlongs Sofala won. Impromptu second, Combermere third; time. 0:55U. Six furlongs Headwater won. Sly sec ond. Mountebank third; .time. 1:144. Thornton stakes, four miles, value 33000 Forte won. Twlnkler second, Weller third; time. 7:22. Mile and an eighth Malay won, Don Luis second. Flamora third; time. 1:534. Mile and a sixteenth Horton won, Uorda second. Storm King third; time, 1:7. Races at Little Rock. LITTLE ROCK. March 3L The results today were: Selling. 5 furlongs Alice Coffin won, Belie of Erin second. Borden third; time. 1:10. Selling. IM furlongs The Light won, Martin Duke second. Sir Blaze third; time, 1:0U. Selling, seven furlongs Racebud and Damocles ran dead heat. Abusive third; time. 1:30. In the run-off Damocles won; time. 1:32K- One mile, selling Laureate won. High Jinks second. Cheesestraw third; time, l:42K. Six furlongs, selling Free Hand won. Insurrection second. Dutch Comedian third; time. 1:15. Mile and a sixteenth Bonnie lone won, DON'T NEGLECT YOUR KIDNEYS - They Arc the Most the. To Test for Yourself the Wonderful Root, the Great Kidney Remedy, Every Reader of "The Orejonian" May Have a Sample Bottle Sent Absolutely Free by Mail. I I . fed p-ni " ' 5iffl iMi lg"aa5gHMla1MJliixfcf i! uwHII 111 III MlW&mlmAl 1 Thonnanda of Women Have Kidney Is that great human engine, which de cides the health of every man and woman. working properly? Are symptoms like the following star ing you In the face every day: Weak, sluggish circulation. Puffy or dark circles under the eyes. 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The People Know And Believe Them The Splendid Record of Doctors Copeland and Montgomery For Years in This Community Gives Confidence and Faith to the People as They Read the Wonderful Results of Their Treatment For seven years Drs. Copeland and Montgomery have conducted In this city tho largest practice ever known In the history of Portland. Tho people know them. Their fame has grown. In the strong light of Intimacy nnd permanency. Medical pretenders and bogus healers of every variety have como ond gone; passed In the night, unable to endure the day time of acquaintance. But with time nnd intimacy the fame of Drs. Copeland and Montgomery has grown stronger. Tho testimony supporting their prac tice has. come from reputable citizens, neighbors, dwellers In this city and resi dents In this vicinity, and whose reputa tion nnd movements are well known or may be known to nil who care to Inquire. Such testimony Is enduring proof that Drs. Copeland and Montgomery are really curing, not merely helping or relieving, not merely Improving and benefiting alone, but curing the disease. Read In these enres that nrc Riven here a part of the record of that skill. It can enre fllacnae. It la dolns; It every day. It la mnklnnr the alclc well and strong. It la carlntc the cangh that rncka the cheat frith dlatreaa. It la rellevlnor that cramp lnfr..ahootlnc pain of body nnd limb. It la drlvlnK oat polaona In the blood. It la atopplna- that nervona fear and trembling. It la restoring the aense of hearing; to ears that are deaf. THE RADICAL CURE OF CHRONIC DISEASE IN MANY FORMS. Mr. J. n. Otto, 274 Fourth atreet, Portland: Several years ago I took a course of treatment at the Copeland In stitute for a catarrhal trouble affecting my head, stomach and bowels, the result of an attack of Panama fever 20 years before. At that time I was In my (3d year, and thought this would be against a cure, but under the treatment given me. my catarrh got well and my stomach and bowels healed. I am now ns well as any man of my age. due to the excellent treatment I received at the Copeland In stitute. Sir. John Redmond, SfcMlnnvllIc, Or.: I had suffered with catarrh and stomach trouble for years. I took a course of treatment with .Drs. Copeland and Montgomery, and they cured me. I have been enjoying good health ever since. Mr. L. II. Clarice, well-known In Portland, living at Gresham: The Cope land physicians cured me of rheumatism and deafness from which I had suffered for many years. I am 69 years of age, and consider my cure little short of a miracle, and never fall to give the Cope land physicians the praise they so richly deserve. Mr. E. A. Itnth, Brewster Hotel, Portland, a well-known steamboat man: I would have long since been In my gravo but for the treatment of Drs. Copeland nnd Montgomery. They saved my life. I suffered from a bronchial trouble, which was thought to be consumption. My fam ily physician could do nothing for me. I had night sweats and a terrible cough. At times I coughed until I raised bright, red blood. My chest was sore, with sharp, cutting pains through tho lungs. I lost flesh until I was nothing but skin and bone. When I finished my treatment two years: ago I was a perfectly well man. and have been so ever since. I shall be ever grate ful to the doctors who cured me. Mr. J. P. West, Scnppoosc, Or.i When our son Wilfred began treatment at the Copeland Institute his condition was very serious. He had a terrible, racking cough. He had no appetite, and had lost fleih and strength. He took bottle after bottle of medicine, but got no better, and we had grave fears his lungs were affect ed. Now he is well and strong. Mr. Erneat Kroner, 107 Monroe street, Portland: Our little boy Leo was a great sufferer from catarrh, compli cated with frequent attacks of tonsllHls. His condition caused us grave alarm: for. In spite of all treatment, he grew steadily worse, and his general health became greatly Impaired. The Copeland physi cians cured him perfectly. $60 - PHAETONS $75 AND UP SPIDERS TRAPS AND FIRST AND TAYLOR STREETS Mr, lb R. Chendle, proprietor of the Cascade dairy. Lebanon. Or., well known In Portland: Several years ago I took a course of treatment at the Copeland Institute for catarrh and deafness, the result of scarlet fever In childhood. I had a nasty discharge from both ears. My hearing was very dull, and I was under a constant strain to understand what was said. I had doctored for years without benefit. I then decided to take up the Copeland treatment, and from my own personal ex perience I can and do say that this treat ment is all that Is claimed for It, for It brought me a permanent and radical cure. Mr. J. Martin, Ortgoa City, Or.i Whsn I began treatment at the Copeland Institute I had little hopes of a cure. My stomach and bowels were In a terrible condition. I had diarrhoea, with awful, cnunp-llko pains. Food did not digest, but caused bloating and great distress!! I had lost 35 pounds. I had been treated by no less than 10 physicians, but they could do nothing for me. Upon the advice of friend1) I placed myself under treatment with Drs. Cope land and Montgomery. I am always pleased to praise these physicians for their excellent and successful treatment of my case. They cured me. HOME TREATMENT. To hoita of Batterers everywhere Doctor Copeland addreaaea to one and all the followlnrr Hat of qneatlona to enable thoae who live at a dlatanee to nnderatand the nature of their affliction. "Is your nosa stopped up?" "Do you sleep with mouth wide openf "Is thera pain in front of head?" "I your throat dry or sorer "Have you a bad taste In ths morning?" "Do you cough?" "Do you cough wone at nlghtf "Is your tongue coated?" "Is your appetite falling?" "Is there pain after eating?" "Are you light-headed?" "When you get up suddenly ara you dizzy?" "Do you have hot flashes?" "Do you have liver marks?" "Do your kidneys trouble you?" "Do you have pain In back or under shoulder-blades?" "Do you wake up tired and out of sorts?" "Are you losing flesh?" "Is your strength falling?" DTFORMATIOrt OF NEW HOME TREATMENT SEST FBEB OX APriaCATIOK lf4 The coat of treatment at the Copeland Medical Institute for any chronic ailment or malady la at the rate of $5 Per Month. Thla fee Inelntlea all medl elnea and the itonatant and watchful care ol all patients to a final onre. a CONSULTATION FREE. DR. COPELAND'S BOOK FREE TO ALL The Copeland Medical Institute THE QEKUNL THIRD AND WASHINaTON W. HV COPELAJTD, M, D, '.TTTT J. H. WOXTGOMEHTr-af, S, OITICD HOURS From 8 A. M, to -13 SI. I from 1 to B P. St. EVETIXQS Tueadaya and.f rlday. SUNDAYS From 10 A. M. to 13 M. AND UP ALL KINDS OF VEHICLES of Novelties Just In.