THE SUNDAY OREGONIAN, PORTLAND, FEBRUARY 23, 1902.
23
COMMERCIAL AND
The weather yesterday was too beautl-
Jul to induce much trading, and the i
-Khcsalcrs were not over-run with bus- J
Jncss. "With but live more business days
remaining this month, retailers are not
buy .rip very freely and not much activity
is expected before the new month. The
crily change of Importance In prices yes
terday was In sugar, which retreated 15
cents per hundred In sympathy with the
latest decline in the California market.
The situation is -so badly muddled that
most of the retailers anticipate still
lwcr prices, and are accordingly not In
clined to buy except In a hand-to-mouth
manner. The steamer sailing for San
Francisco yesterday morning took out
-3t" sacks of potatoes, which will land
on the San Francisco market before the
last consignment of 12,500 sacks is out of
the way. The latter is already depres
sing the market to such an extent that
yesterday 51 15 cental was the top
quotation for bct-i Burbanks, and common
stock was In no demand at much lower
prices. The decline has helped matters
somewhat in another direction, however,
as it has opened the way for dumping
Fomo of the surplus stock on the Arizona
and Texas markets, which have recently
been buying Colorado potatoes much
cheaper than they could secure the Oregon
spuds. With the price down around SI
per cental for fair to good shipping stock,
the surplus will find a ready market In
the territory which In former seasons has
taken up large quantities of potatoes from
this section.
Onions have been somewhat weaker for
the past few days, but do not show the
weakness that has developed in potatoes.
The most of the sales Friday and yester
day were around 51 75 and 51 S5 per cen
tal, but choice to fancy stock Is still
bringing J2 per cental. The shipping de
mand is good at these prices, and. for
tunately, Colorado dots not seem in a
position to shut Oregon onions out of
other markets, as has been the case
with potatoes. The egg market held
remarkably steady throughout the week
In spite of the Tieavy receipts which were
naturally expected with such mild weath
er. Tho strength has been due to the
unusually high prices in the east, a great
many ES being shipped from California
to Chicago, and all of the North Pacific
territoryt which usually draws on Chicago
for supplies, is now dependent on the
Portland market. Poultry, with the ex
. ccption of ducks and geese, has been
rather firm for the past week. As stated
above, the principal change in groceries
is the decline in sugar, but there Is a lit
tle more firmness in coffees. In discus
sing the coffee situation a prominent
Urm of San Francisco coffee brokers has
the following:
"The Middle West Is paying pretty good
1 nces fr new crop Guatomalas and as
Lie receipts are fully 00 days behind
. 'l 1 the "West is decidedly short of this
ifseription of coffee, as evidenced from
tl tir urgent and repeated requests for
sumpley. even from as far distant as the
Atlantic Coast itself, it seems probable
tht the mnrket here will be fairly well
M.Maind until these necessities have
Imhii satisfied. "Wo do not mean by this
th.it the market here will be upheld
Without posftievly any change, but while
thss demand la-ts the trade may not rea
finab. look for any radical change.
h" the trouble in Venezuela and Co
1 ml ii last the coffee of these countries
is ! t t the consuming world, and the
r muning countries which supply mild
(..fa must meet the dellcioncy. Un-
iibtceily a large quantity of coffee from
- tw vrops past remains In the interior
of t-nczuola and Colombia and must
somt day come to market, but it is not
to be counted upon while the fighting
rocs n Europe seems to believe, judg
ing from the prices they have been pay
ing In t'entral America this season, that
irjld coffees will, for these and other rca-
r.s. occupy a better position during
Wd than they did in 1001. Certain It Is
that San Francisco will not receive as
much this year as last, and we figure
the deficiency at about 25,000 bags. Last
jear we had about 225,0.
"Java coffees also remain very firm and
ere dltllcult to obtain owing to the great
scarcity of supply. This necessitates a
still greater use of other mild coffees and
makes the demand for these grades more
urgent. Low grades-may. and very like
ly will, continue cheap, but medium, good
and high grade coffees are not likely to
decline to correspond with these grades
as they do under ordinary circumstances,
and tho trade. If they expect this sort of
decline. Is more than likely to be disap
pointed." "WHEAT: The general observance of
the holiday yesterday, prevented any ac
tivity in the wheat market, but some of
the buyers were ready for business, and
in the absence of any definite clue to
the situation, were bidding Up to Friday's
figures and one or two fair-sized lots
were shaken out. Prices covered a range
of 65 to GG cents Friday and Saturday,
and the sales made at these figures and a
fraction more, during the two days,
amounted to considerably more than a
cargo the most liberal selling that has
been reported for several weeks. Four
or five cargoes were finished during the
week, and February exports (flour in
cluded) from Portland and Puget Sound
will again approximate 4.000,000 bushels.
This movement, however, has about
reached Its maximum, and after next
month there will be a sudden stop In the
business. Throughout the greater por
tion of the Interior, stocks have been
cleaned up more thoroughly than In any
previous season since ISM and the carry
oer now promises to be as small as it
was last year.
Freights are bumping along on the bot
tom. There Is no money In the business
for the shipowner at 25 shillings and it
is difficult for the exporter to buy wheat
even on the basis of 25 shilling ships.
The future of the freight market is un
certain. Some owners will undoubtedly
fix their ships at any rate which can
be obtained in order to keep them mov
ing, but others may lay them up to wait
for new crop business. Usually there is
considerable new crop chartering done by
March 1. but this year exporters seem
disinclined to take hold of anything un
til they are assured that the bottom Is
reached. The general sentiment, how
ex er. seems to be that freights for the
coming season will average at least 10
shillings lower than for the season now
drawing to a close. The California mar
ket has been wildly erratic during the
past week, and weather conditions were
so unfavorable that early In the week
quotations shot up to the best rates of
the season. The San Francisco Com
mercial News has the following regarding
the situation In California:
In California the situation on the whole
may be termed improved, although In
some sections the outlook Is worse. From
Fiosno north the crop is In fine condition:
rain has fallen over all sections, greatly
brnciitlng the grain, and there is every
prospect of a large yield. The rainfall
In the south, however, has been entirely
inadequate. In Kern, Kings and Tularo
Counties and the lower part of Fresno
County, the condition Is very poor and
even with good rains the crop will be no
more than fair. In the southern part
- the slate fogs have been beneficial
FINANCIAL NEWS
to the grain, but good rains are neces
sary to produce a fair crop.
The local cash market has shown great
strength but not a great amount of ac
tivity. The advance in prices has de
voured the profit that might have been
gained from the reduction in freights and
shippers are buying but sparingly.
PORTLAND MARKETS.
Grnln, Flonr, Etc.
Wheat Quiet but steady. Walla Walla, C54
(JjOCc; bluestcm. GGGTc; Valley, C35?CV.tc
Barley Feed. $2021; brewing, ?21tfj21 50 per
ton.
Oats No. 1 white. $1 13ffl 25; gray. $1 10ft.
1 20.
Flour Best grades J2 S0J?3 40 per barrel;
graham. ?2 5002 SO.
MUlsturfs Bran. ?10 per ton; middlings, 21;
shortB, ?21 50; mop. fl7 50.
Hay Timothy. $12313; clover. $7 50flS; Ore
gon wild hay. ?5SjC per ton.
Potatoes nnd Onion.
Potatoes Best Burbanks. f 1 101 15 per cen
tal; ordinary. 75ffS5c per cental, growers
prices; sweets, $22 25 per cental.
Onions $1 50g2 per cental, growers prices.
Bntter, Ebrh, Poultry, Etc.
Butter Creamery 25027c; dairy. 1SG20?;
store, 13515c
Eggs Weak at 220224c for Oregon.
Cheese Full cream, twins. 13ftJ3jc; Young
America. Hn."c: factory prices. lltc lens.
Poultry Chlckms. mixed. $3 50f?4 50; htns.
$5Jf5 50 per dozen. 1012c per pound;
Springs, lie per pound, $34 per dozen: duck.
?5fiC per dozen; turkeys, live. 12'.13c:
dressed, lSfflCc per pound; geese. $G per dozen.
Vesretnlilen, Fruit, Etc.
Tomatoes. $1 2iffl 75; turnips, C575c; car
rots, G5675c; beets, 5000c per sack: pumpkins.
$l"gl 25; squashes. $181 25 per 100 pounds;
cauliflower. 75685c per cental; celery. 75c per
dozen'; peas, S'jc per pound.
Green fruit Lemons, $2j3; oranges, ?2tf2 50
per box; bananas, t'2 25&3; pineapples, $5 per
dozen; apples, GOcfjfl 50; cranberries, $11$J12
rtr barrel.
Dried fruit Apples, evaporated. 7Sc per
pound; sun-dried sacks or boxes. 45e; apri
cots. n12c: peaches, SQllc; pears. Gfcfcc;
prunes Italian, 3ff.c; figs. California black.".
S'.itff-'c; do white, 5c; plums, pltlcss, white, t"c
Groceries, Nut, Etc.
Coffee Mocha. 23Q2Se; Java, fancy, 2C'532c;
Java, good 2dff2ic: Java, ordinary, 18S20c;
Costa Rlda, fancy. JSJ20c; Costa Itlca, good,
ICfflSc: Cost Rica, ordinary. 1012c per
pound; Columbia roast. $11; Arbuckle'E. $1175
list; Lion. $1123 list: Cordova. fl2 03 list.
lllcc Imperial. Japan No. 1, S5iv; No. 2, 5Uc;
New Orlean 5fi7c
Salmon Columbia River, one-pound tails.
fl S5; two-pourd tails, $3; fancy one-pound
flats. $2; 't-pound fancy flats. $1 25; Alaska
tails, l5c; two-pound tails. J2.
Sugar Cube. ?4 S3; crushed, $4 S3; powdered.
$4 75. dry granulated. S4 Co; extra C. $1 33;
golden C. $4 net per sack; beet sugar. $4 50;
per sack: half barrels. 14c more than barrols:
sacks. 10c per lOo less than barrels: marie.
151Cc per pound.
Honey 12 liQ 15c per pound.
Grain bags Calcutta. $C 124G 25 per 100
for July-Auguht.
Nuts Peanuts. C'i7c per pound for raw. Sft
S'4c for roasted; cocoanuts. 5tH)c per dozen;
walnuts, lOViQilc per iound; pine nuts, 10if
12fec; hickory nuts, 7c; chestnuts. $3 50S5 per
drum: Brazil nuts 7c; filberts, 15lCc; fancy
pecans. 14' 14Uc; almonds. 12ri5c.
Coal oil Cases, 20te per gallon; barrels, 10c;
tnnks, 14a
Stock salt 50s, $19 75. 100s, $19 23; granu
lated. 50s. $2S; Liverpool. 50s, $2b; lOus, $27 50;
200s. $27.
Meats ami Provision..
Mutton Gross. 4c per pound; dressed, 774fl
per pound.
Hams, bacon, etc rortland pack (Shield
brand) hams, JSglS'tc: picnic, lis per pound;
breakfast bacon, lSOlC'c per pound, bacon.
14c per pound; backs .HUQlStfc per pound;
dry-salted sld--. lie per pound; dried beef,
setts, lCc; knuckles, lbc per pound; Eastern
pack hams, laige. 12sc; medium. 13c; small,
I3'c; jilcn, J)?;c; shoulders. 9?;c; breakfast
bacon, 14gl&!c; dry-salted sides. HUc; bacon
sides. 12'.c- backs, unsmoke-d. HUc; smoked,
12Uc; butts. 9ii?10ic per pound; dried beef.
15fil$pl7ic per pound; dry-salted bellies, lla
12'c; bacon bellies. 12tgi3Vc per pound.
Hogs Gross. 5?;c; drcsted. Grille per pound.
Veal SfjSac for small; 7g7isc for large.
Beef Gross, cows, 3;4c; steers, 4Q'4"e;
dressed. C,,471tc per pound.
Lard Port.and (Shield brand), 5s, 13c; 10s.
12'4c; 50s. 12ic; tierces, 12Uc: Eastern, pur
leaf, kettle rendered. 5s. 12;ic; 10s, 12ic: 50s.
12Vic
Hops, "Wool and Hides.
Hops 12Q" 13Vc per pound.
Wool Nominal; Valley. 13015c; Eastern Ore
son S012kc; molalr. 213j21'c per pound.
Sheepskins Shearings. 15;g2uc: short wool.
i5ft35c: medium wool. 30SCoc; long wool. COo
G$l each.
Tallow Prime, per pound. 4QVc; No. 2 and
grease, 2ls3c
Hides Dry hides. No. 1, 1C pound3 and up.
1515,ic per pound; dry kip. No. 1. 5 to 15
pounds, 15c; dry calf. No. 1 under 5 pounds
lCc; dry-salted, bulls and stags, one-third ltas
han dry flint; talted hides, steers, sound. CO
pounds nnd over. SQDc. 50 to 00 pounds. 7c
Sc; under 50 pounds and cows. 7c: &tags and
bulls, sound. SCS'&c; ktp. sound. 13 to 30
pounds 7c: veal, sound. 10 to 14 pounds. 7c;
calf, sound, under 10 pounds. 5o: green (un
salted), lc per yound less; culls, lc per pound
less; horse hides, salted, each, $1 50g2; dry.
each, $1(?1 50; colls hides, each, 25Q50c: goat
skins, common each. 10ffl5c; Angora, with
wool on, ?ach. 25c$l.
Pelts Btar skins as to size. No. J. each 55
Q2Q; cubs. $285; badger, each. 10010c; wild
cat. g30c; h.ue cat. 5yl0c; fox. common
gray. each. 30250c; do red. each. $1 5032; do
cross, each $5915; do silver and black, each.
$1003200: nsherr. each. $5Q0; lynx. each. $233;
mink, strictly No. 1. each. 30cQ$l 25; marten.
dark Northern. $0fli2; marten, pale. pine, ac
cording to size and color. $1 50g3: muskrat..
large, each. 5Si0c: skunk, each. 23(j35c; cHet
or polecat, each, 5610c. otter, for large prlrco
skins, each. $537; panther, with head and
claws, perfect, each. $275; raccoon, for large
rrlme, each. 30035c; wolf, mountain, with
head perfect, each. $3 5045: wolf, prairie (coy
ote), with head perfect, each. 40gC0c; wolf.
prairie (coote). without head, each. 30U35c;
wolverine, each. $4ffi: beaver, per skin. lar,-.
$5?C: do medium. $334; do small. $lgl 50;
do Kits, 50Qi5c
WILL FORM CHAIN OF ILYXICS.
Company Incorporated to Alcsorb
Many Institutions.
NEW YORK. Feb. 22. The Interstate
Trust Company, with a nominal capital
of $100,000. has been incorporated at Tren
ton. This company, according to the
World, will form a chain of banlis
throughout the country. The stock, of
which there are 1000 shares, has been tak
en by the Incorporators at or about $3000 a
share, so that the company will start with
a surplus of nearly SS.OOO.OOO. About 24
banks, reaching from Massachusetts to
Wisconsin, will be absorbed. It Is stated,
and negotiations are going forward for
the control of many others.
The Incorporators are Charles C. Edy.
banker, of New York; C. A. Steven?, of
Summit. N. J., representative of the Stev
ens estate and the Stevens Institute In
Hobokcn; Curtis L. Arbecam, of New
York: Henry E. Hutchinson, president ot
the Brooklyn Bank and trustee of the
Hamilton Trust Company, of Brooklyn;
Edward V. Lowe, president of the German-American
Title Guarantee Company
and director of the Trust Company and
many banks; Wesley C. Keller, of Glen
rock, Pa., director of many Baltimore
banks and trust companies; Charles C.
Frlck. of York, Pa., and A. M. Strong, of
Chicago.
Enstcrn Livestock.
CHICAGO. Feb. 22. Cattle Receipts. 200;
steady: good to. prime steers, nominal,
$6 50fj7: poor to -medium, $4t?6; stocked
and feeders. $2 30JT 1 75; cows, $1 Zoo 25;
heifers. $2 505 50: canners. $1 232 30;
bulls, $2 50g4 GO; calves, ?3.30ST6 75; Texas
fed steers, $4 50Jj5 75.
Hogs Receipts today, ; Monday,
45.000; left over, 3000. Strong to 3c higher.
Mixed and butchers, $5 90gG 40; good tq
choice heavy. IG 35JC 50; rough heavy. $6ft
G25; light, $5 756; bulk of sales, $5 95tf
6 30.
Sheep Receipts. 1000; sheep steady;
lambs weak; good to choice wethen $1 75
5 25; fair to choice mixed. $3 S5i?4 GO;
Western sheep and yearllncs. $4 5025 60:
native lambs, $3 757C 40; Western lambs, !
$5 25i?G 40.
OMAHA, Feb. 22. Cattle Receipts. 20
head; market steady. Native steers. ?4J?
C CO; cows and heifers, $35; Western
steers, $3 S0fi5 30; Texas steers, $3 606 CO;
cannery, $1 50S2 75; stockers and feeders.
$2 504 70; calves. $3 50B7; bulls, stags.
etc.. 52 7374 75.
Hogs Receipts, 740 head; market 12Vic
higher. Heavy. $CC 20; mixed, $3 S0$5 S3;
light, $5 4005 90; pigs, $405 10; bulk of
sales, $5 80SG 05.
KANSAS CITY, Feb. 22. Cattle Re
ceipts', 103 head; market unchanged. Na
tive steers. JCyC 50; Texas and Indian
steers, $1 235 75; Texas cows, $3 25$4 50;
native cows and heifers, $4Q5 13; bulls, $3
(54; calves, $4 50??7.
Hogs Receipts, 400 head; market 3c
higher. Bulk of sales, $5 C0T7G 30; heavy,
$6 2.V&I" 40; packers. $5 S5Q6 23; medium,
$5 SOffC 15; light. $5 40JTG 20; yorkers. $5 403
6; Piss, fl 50&5 23.
Money nt London.
LONDON, Feb. 22. Consols for money,
4 !-lGd; consols for account, !H 9-16d.
Money, 203 per cent.
Tho rate of discount in the open mar
ket for short bills Is 2i per-cent.
The rate of discount In the open mar-
TONNAGE EN ROUTE AND IN PORT.
Vessels Chartered or Available for Grain Cargoes From
the Northwest.
FOR PORTLAND
Flag
and rig.
Name.
Jan. ISiEarl Cadogan
Jan. 17lnchcapc Rock
Aug. 23i'eiide
Sept. 15J..CS Adelphea
JArctlc Stream.
Nov. C Dovenby Hall
Dec 13'Agws Oswald.
Jan. 10'Cypromene
Jan. 12 Brunei
Nov. 20,Torrisdale
Dec. 7 Rockhurst
Fob. 3'SIorra Estrolla
Ostara
Ncl
ITroon
Hortla
...c jWilkonimen
...jllolyrood
iCton. de Negrlcr
Dec. 7Gen. Faidherbe
Jan. ISiJacobsen
Dec 20ISpckc
jJohn Cooke
Palgravc
Carl
Br. bark
Br. ship
Fr. bark
Fr. bark
Br. ship
Br. ship
Br. shin
Williams
Porter
LeHegarot
Cancvet
Bo wen
Wickham
Philip
Bond
Br. bark
Br. bark
Mllno
JNlckells
'Thomas
'Farmer
Tlcmann
Schutte
1 Fritz
Svendsen
iFrecse
FIndley
iBlanchet
Treillord
Slott
jQuayle
Coutts
Hashagen
ICrowe
Br. ship
Br. bark
Br. ship
Ger. shin
Ger. ship
Mr. snip
Nor. jtr
Ger. ship
Br. ship
Fr. bark
Fr. onrk
Fr. bnrk
Br. ship
Br. ship
Br. ship
Ger. sn.p
Br. bark
...jSemnntha
Total tonnage en route and listed. 47.31G.
GRAIN 'IONNAGE
Name.
Flag
and rig.
Master-
Dec.
Dec.
Dec
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
DIAsio
lSPax
25Chas. Gounod
SIBossuct
LllSt. Mirren
Fr. bark
Dutch hk
Fr. bark
Fr. bark
Br. ship
Br. ship
Br. ship
Br. bark
Ger. bark
Br. ship
Fr. bark
Br. ship
Br. bark
Ger. bark
Br. ship
Br. ship
Fr. bark
Br. ship
Br. ship
OHlvaud
iRelners
Gauthicr
Houolbccg
Hamilton
;R!tch!c
Kncally
Mahon
Haase
Collins
Royne
J Doty
Couch
lErbrccht
17i Loch Garve
27Ccnturion
28- ers'iilles
30! Lord Shaf tesburj
17i Lota
lSBarmbek
ISiQueen Elizabeth
17 Conway
22iBidart
22'Sierra Vantana
2!Banklelgh
Fulton
Walters
Mellois
DoGruchy
Evans
Total tonnage In port, 32,493.
GRAIN TONNAGE EN ROUTE TO PUGET SOUND
Name.
Flag
and rig.
Master.
Jan.
Oct.
Oct.
Nov.
Dec.
Nov.
Jan.
Nov.
Nov.
Dec.
De'c
Nov.
Dec
Feb."
26'Alsterufcr Ger. bark Nelf
lO.Macdalrmcd It. ship Paturzo
20, Kate Thomas Br. ship Thomas
li Senator Br. ship Sutherland
2 General Roberts Br. bark Fcaron
27 Holy wood Br. bark Lundius
... SchHfbek Ger. bark JoIIes
13iGlenmark Br. bark Johnson
.. JAIsterschwan Ger. bark Glertz
27(Lynton Br. bark IJames
IGuernsey Nor.str Hansen
2SiWhitllcburn Br. bark Bartlett
Silnverklp Br. bark Jones
...Tweeasdale Br. bark Jones
17jLadakh Br. ship Hannah
2S,'Flngal Br. ship Archer
2SIGrenada Br. bark Putt
,...Celtlc Chief Br. ship IJones
3Invcrnay Br. bark lLamont
Total tonnage en route and listed, 3G.2S1.
GRAIN TONNAGE
Flag
and rls.
Name.
Master
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Feb.
Teb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Teb.
Feb.
Feb.
4'Sprlngbank
9, Robert Duncan
22,Wilhelmina
26La Fontaine
23,Penrhyn Castle
31 Wanderer v
4iWest Lothian
J Kensington
HlDudhone
11 (Eaton Hall
12 Follmina
13 Java
14 Mathilda
li.Kclford
191.M. E. Watson
19iLaomene
21Thekla
Br. bark
Br. ship
Dutch str
Fr. bark
Br. bark
Br. bark
Dobble
McLean
Devles
Durls
Evans
Dunning
rfco-iij
Br. ship
Br. ship
Br. ship
Br. ship
Dutcl- str
Br. sir
Nor. str
Br. ship
Br. ship
Br. ship
1 Borland
Iow
Evans
DeVrJes
Gordon
Tanrvlsr
'McKlnnon
Wilson
Hughes
Aim
Ger. bark
Total tonnage In port, 35.0C9.
ket for three-month bills Is 2 ll-l&Si
per cent.
Stoclcn nt I.omloxi.
LONDON,
Feb. 22. Closing quotations:
.... GH'N'orfolk & West. SS
.... 77 do pfd i24
.... S9.Dnt. & Western. 34"i
Anaconda ....
Atchison
do pfd
Bait. &i Ohio.
2an. Pacific.
Chcs. & Ohio.
lw4 Pennsylvania .
7CV
....1174 Heading
.... 46Vr lo lsts pfd...
.... 21 j do 2ds pfd...
P..16S (Southern Ry .
4i do pfd
.... Si'.i'Southcrn Pac.
39 Lnion Pacific.
27:8
L'hi.. G. W
r. m. & st
D. & R. G.
... 33S
... 9S
... GGH
...10&
... 92
"." V4
... 2414
... 43-
do pfd
Erie .A
Erie lsts pfd...
do 2ds pfd...
til. Central
. 70 ' do pfd ,
. 57-l". S. Steel ...
113 j do pfd
Louis. & Nash.. 10S; Wabash
Mo.. Kan. & T.. 5V do pfd ..
do pld 57 Spanish 4a
Now York Cen..lGCi
... 7C;& 1
Crertltorn "Will Be Paid In Fnll.
MILWAUKEE. Feb. 22. Timothy E.
Ryan, of "Waukesha, was today appointed
receiver of the Waukesha Water Com
pany by Judge W. H. Seaman, of the
United States District Court. The assets
of the company are said to exceed the li
abilities, and creditors will be paid in full.
American Colortype Compnny.
NEW YORK, Feb. 22 The American
Colortype Company filed articles of incor
poration in the County Clcrlfs ofllce at
Newark. N. J., yesterday. The capital al
lowed is J4.0CO.000. of which but $100 was
paid In. '
Hops nt Lontlon.
LIVERPOOL Feb. 22. Hops at Lon
don: Pacific Coast, firm; 3 10s4 10s.
JJnr -Silver nt London.
LONDON, Feb. 22. Bar silver, 25d per
ounce.
The type of horseshoe common In the Orient
Is a- plate fitted so as to cover the entire bot
tom of the hoof, with a perforation In the
center. The weight of the average horsesho
Is three-fourths of a pound. The native
smiths usually cut these plates from sheets of
wrought Iron and rudely shape them for the
niimnu in vlow,.
LEGAL TENDER DECISION
A DEMOCRATIC MYTH OF LOXG
STANDING STILL ADHERED TO.
Letter From a Believer "Which Is
ConMdcred In the Light of N'evrly
Discovered Evidence.
SAL3M, Feb. 22. (To the Editor.) xte
Oregonlan of the 12th claims that the as
sertion that the Supreme Court of tlte
United States was packed by President
Grant In order to secure a reversal of its
legal tender decision rendered In the case
of Hepburn vs. Griswold is "completely
refuted" by a recent publication of a 6on
of Judge Bradley, of that court; that "on
the same day this opinion was announced,
and before It was known outside of the
bench. President Grant sent in the nomi
nations of Justices Bradley and Strong,
both Republican?, to the. Senate."
The decision in the Hepburn vs. Gris
wold case was announced In December,
1869, Instead of February. 1ST0, as stated
by The Oregonlan, presumably quoting
Master.
From.
Consignees.
1334P.L. Angeles
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1433 P. L. Angel'
1372INewca.stle
1320'No.ssl Be
37
Taylor
1S3
Girvin
161
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raylor
14!S P. L. Angeles
lS3S;.ntwcrp
1TS0 Newcastle
1730 Antwerp
651
41
42
Balfour
113G3I Newcastle
2lS4'Table Bay
1332'Mollcndo
il202Llverpool
lfSO.Sta Rosalia
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20
2G27I Hamburg
loZS.Corca
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Balfour.
iiZSIiiouart
17S0Nantes
2712AdeIaIde
jlioSI Liverpool
J307SHiogo
ilSlGiYokchama
2211 H j mburg
IN THE RIVER
From.
Agents or
Charteiers.
Berth.
1039!Hobart
1295.Llverpool
ninJNagasakl
1730Ar.twcrp
155' Valparaiso
1712Valparalso
iG19!Sta. Rosalia
lyY7'T.i!ilA Rjiv
Balfour
Disengaged
Balfour
Kerr
Baifour
N. V. Co.
Davidge's
Elevator
Astoria
Mtg'my 2
Oceanic
Astoria
Astoria
Astoria
Astoria
tP.F. M. Co.
I Port. G. Co.
!Port. G. Co.
'P. F. M. Co.
N. W. Co.
Disengaged
1 1233 Valparaiso
1704'Nowcastle
1 1740 Nomea, N. C.
2273! Honolulu
12SCiCa'dera
22S9. Hamburg
il7CC'Snnnghitl
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Col. 1
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P. F. M. Co.
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Stream
Stream
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P. F. M. Co.
Berg
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Berg
Port. G. Co.
From.
Consignees.
12337
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Liverpool
Liverpool
Liverpool
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lSlllRotterdam
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1250Chanaral
12303, Honolulu
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ON PUGET SOUND
From.
Agents or
Charterers.
Berth,
12233! Greenock
Balfour
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22y'Orient
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Kerr
P. F. M. Co.
Port. G. Co.
Pt. Tnsnd
Tacoms.
Seattle
PLTnsnd
Tacotna
Tacoma
N. W. Co.
Balfour
Balfour
Direngaged
N. W. Co.
Kerr
Balfour
Balfour
Balfour
N. W. Co.
ISeattle
ISeattle
JVancoavo
Pt. Tnsnd
Tacorwi
Victoria
PL Tnsnd
Seattle
PL Tnsnd
111 London
1G70 Valparaiso
1644 Artwerp
2&3S;Yokohama
from the son of Judge Bradley, on which
latter date ise states the nominations of
Justico Strong nnd his father were cnt to
the Senate. By the Hepburn-Griswcld
case decision the court held that the legal
tonder law was unconstitutional, standing
live for that construction and three
against It, the court having been reduced
to eight members by an act of Congress
to prevent any appointees of Prssldent
Johnson from getting into it,. Justice
Grier, of the five, resigned, and President
Grant appointed Judge Strong, known to
be opposed to the decision. The court, as
thus composed, stood four to four on the
question of the Constitutionality of tho
legal tender law. Congrei.s then raised
the number of Justices to nine. President
Grant approved the act and selected Judge
Bradley, likewise known to be adverse to
the decision, for the ninth Justice. This
war at the time, and since, charged to be
a deliberate packing of the court In the
Interest of classes adversely affected by
the decision in the Hepburn-Gri6wold case.
Hie railroads of the country had heavy
bonded debts, and that decision made the
Interest and principal of their bonds pay
able In coin. Naturally they were taking
n lively interest. Strong and Bradley, one
or both, it was said had been railroad
lowyers. The confirmation of Judge Brad
ley wm at first opposed In view of the
manifestations of Congress and the Presi
dent, but there was an overwhelming ma
jority of his political friends In the Sen
ate, and resistance was futile. The con
servative sentiment of tho country was
startled at the manner In which Congrcfs
and the President changed the number
and character of the Supreme Court In
the Interest of party and politics. Another
case. Involving the same questions as did
that of Hepburn vs. Griswold, was Im
mediately passed upon and the former de
cision reversed, the court standing five
to four. Justices Strong and Bradley going
with the majority.
Seven years later came the conflict be
tween Tllden and Hayes nnd the Electoral
Commission. Of the five Justices of the
Supreme Court who were to serve on the
commission, two Democrats, Clifford and
Field, and two Republicans, Miller and
Strong, were named by the act of Con
grcfo creating the commleslon. These
were to select a fifth member from the
same bench, who. It was understood.
should be David Davis, an' independent,
but opposed to the Grant Administra
tion. Before any action was had under
the Electoral Commission law, Davis was
elected United States -Senator by the 11H
nola Legislature, supported by the Demo
crats In that body and a sufficient num
ber of Republicans to constitute a ma
jority. The four Justices were thereupon
compelled to select from .partisan Repub
licans. They named Judge Bradley, and
his were the deciding votes In that fa
mous "ehtht to seven" commission which
placed Rutherford B. Hayes in the office
to which Samuel J. Tllden had been
elected.
Hugh McCulloch. a distinguished citi
zen of Indiana, was Secretary of the
Treasury during portions of the Adminis
trations of Presidents Lincoln, Johnson
and Hayes. No more candid and upright
man was connected with the public serv
ice In his time. On pages 172 and 173 of
his book, entitled "Men and Measures of
Half a Century." published in 1SSS, he
writes of the Supreme Court and the
legal 'tender decision as follows:
"The first case involving the Constitu
tionality of the legal tender act, decided
by the Supreme Court, was In December,
1S69 (Hepburn vs. Griswold). The question
In this case was whether the holder of a
note executed before the passage of the
first legal tender act (the act of February
25, 1S62), when coin was the only standard
of value, should be compelled to receive
in payment thereof legal-tender notes,
which then, measured by coin, were at a
heavy discount In other words, whether
Congress had the Constitutional authority
to make anything but gold and sliver
lawful money in satisfaction of contracts
entered Into before the act was passed.
The question. 'Can Congress make such
notes a legal tender for contracts made
after the passage of tlje act? was not
Involved In the case, but It was very clear
from the opinion of the court, delivered
by the Chief Justice, that a majority of
the Justices regarded the act as being
unconstitutional In Its application to con
tracts made after as well as to those
made before the .act was passed. Upon
the question before the court the Justices
were divided In opinion five, including the
Chief Justice, agreeing that the act was
invalid to the extent that It made the
notes a legal tender on contracts executed
prior to Its enactment, three being of the
opinion that It was valid. Against the
constitutionality of the act. In Its appli
cation to the case under consideration.
were the Chief Justice and Justices Nel
son. Grier. Clifford nnd Field; In favor
of Its Constitutionality were Justices Mil
ler. Swayne and Davis. The opinion of
the dissenting Justices wns delivered by
Justice Miller. This decision was unfa
vorably received by the Administration,
and It was especially offensive to the great
railroad companies whose bonds were exe
cuted prior to February 5, 1S62. lnasiriuch
as it made the Interest and principal of
their bondfs payable in coin.
"The second legal tender case (Knox vs.
Lee, and Parker vs. Davis) was decided in
December, 1S70. the court then consisting
of nine Judges, the place of Judge Grier,
who had resigned, having been filled by
the appointment of Judgo Strong, and
Judge Bradley having been appointed
under an act which took effect in De
cember, 1S69, Increasing the number of
Justices to nine. It was no secret In
deed, it was a matter of public notoriety
that these Justices were appointed in order
that the decision of 1SGD might be reversed.
No one who knew them doubted their
Integrity or ability, their perfect fitness
for the places they were called to fill:
but their opinions In regard to tho Con
stitutionality of the legal tender acts had
been clearly and publicly expressed, and
to this fact their appointment was attrib
uted. It was therefore pretty well known
what the decision would be when tho
question was again presented. It was un
derstood that no change hnd taken place
in the opinions of the Justices who were
on the bench when the first legal tender
case was decided, and still remained upon
It; that Messrs. Swayne. Davis and Mil
ler would adhere to the opinion expressed
In that case, and that with Justices Strong
ana uradiey tho court would stand five
In support of the act and four against It.
By a majority of the court, five to four,
the judgment rendered a year before was
reversed and an act of Congress making
the depreciated notes a legal tender In
payment of pre-existing contracts was de
clared to be Constitutional; that creditors
were bound to receive on contracts call
ing for dollars the notes of the Govern
ment promising to pay dollars, but on
which dollars could not be obtained."
A. B.
The Salem correspondent does not
agree with The Oregonlan'a estimate of
the Importance of the new light cast
upon the so-called legal-tender "scan
dal" by the publication of a paper
signed by Justices Swayne, Strong,
Davis, Bradley and Miller, under date
of Washington, April 30. 1S70, touching
the hearing by the court of the second
legal-tender case, in which the first de
cision of the court was reversed. The
first case, involving the constitutional
ity of the legal-tender acts of Con
gress, came to the Supreme Court from
Kentucky In Hepburn against Griswold.
The Kentucky Court of Appeals had de
cided against the validity of the legal
tender act of 1S62, in so far aa it nought
to force paper currency upon creditors
In case of notes executed prior to the
passage of the act. The decision of the
United States Supreme Court was. ren
dered In December, 1869, and affirmed
that of the Kentucky courL On the
side of unconstitutionality were Chief
Justice Chase and Justices Nelson, Clif
ford, Grier and Field; In support of the
validity of the legal-tender acts were
Justices Miller, Sw-ayne and David
Davis. '
Justice Grier resigned very soon after
ward by the unanimous consent of the
other Judges, and his place was filled
by appointment "of Justice Strong.
Meantime a bill was enacted by Con
gress Increasing the number of Judges
to nine, and Justice Bradley was ap
pointed to fill the additional place. Both
of these Judges, as shown by their sub
sequent official action, disagreed with
the court in the Hepburn against Gris
wold decision. It was charged that the
Administration of Grant knew this be
forehand, and selected these Judges ac
cordingly, and it was also charged that
Congress. In order to secure a reversal
of the decision, created an additional
Judgeship. But It has been shown that
Congress enacted the bill for an addi
tional Judge before the decision In
Hepburn vs. Griswold was rendered,
and before Congress could have known
what It was to be. Other cases were
pending at the same time, also Involv
ing the legal-tender question. This is a
fair statement of the facts as they are
set forth In leading- Journals of the
country that were sturdily opposed to
the Grant Administration and are today
hostile to the Republican party.
The paper relating to the so-called
"scandal" of the second legal-tender de
cision, which has Just been published,
Is dated April 30, 1870, four months after
the first legal-tender decision. Chief
Justice Chase knew the views of the
new Judges on the legal-tender ques
tion, and that If the question arose
again the court would reverse Its first
decision. So, according to this state
ment signed by Justices Swayne, Strong,
Davis, Bradley and Miller, the Chief
Justice attempted to decree the question
closed. In the pending cases involving
the legal-tender question the Chief Jus
tice would have decided them by the
decision In the Hepburn-Grlswold case;
which he thought should stand as the
judgment of the court in all other cases
Downing, Hopkins & Co.
Established 1893.
WHEAT AND STOCK BROKERS
Room 4, Ground Floor
of like nature arising. "When this mat
ter came up in conference before all the
Judges, the court by a bare majority
ordered that the later cases should be
heard oh all the Issues involved In the
record, Including the legal-tender Issue.
Then the Chief Justice prepared a cer
tain protest and filed it with the court,
but withdrew It on learning that the
majority of the court would unite in a
counter statement. This counter state
ment of the majority of the court,
which was not filed, became the prop
erty of Judge Bradlej-, and Is now for
the first time made public.
This paper states concerning the first
legal-tender decision that the anti-legal-tender
Judges forced it when there was
no pressure for a decision, when there
was one vacancy on the bench, and
when it was believed there would soon
be another. The minority, under these
circumstances, begged for delay until
the bench was full, pointing out that
Congress was legislating to provide a
ninth Judge. But the appeal of the mi
nority was denied. The signers of this
paper charge the anti-legal-tender
Judges with a determination to fore
stall any possibility of a change of sen
timent of the court, and to commit the
court against a reconsideration of the
question. When the vote was taken
the court was found to be equally di
vided on affirming or reversing the
judgment of the Court of Appeals of
Kentucky. This even division of the
court would have affirmed the judgment
of the Kentucky court decreeing the
Invalidity of the legal-tender acts, but
settled no principle. The statement then
proceeds:
An attempt was then made to convince an
aged and innrm member of tho court (Judgo
Grier) that he had not understood the question
on which he voted. He-said that he understood
the Court of Appeals of Kentucky had declared
the legal-tender law unconstitutional, and he
-oted to re-verse that Judgment. As this was
true, the case of Hepburn against Griswold
was declared to be affirmed by a court equally
divided, and we passed to the next case. This
was the case of McGlynn, executor, against
Mapraw. and involved another aspect of the
legal-tender question. In this case the vener
able Judge referred to. for whose public serv
ices and character we entertain the highest
respect, made some remarks. He was told
that they were inconsistent with his vote In
the "former case. lie was reminded that he
had agreed wth a certain member of the
court, in conversation, on propositions differing
from all the other Judges, and finally his vote
was obtained for afilrmlng Hepburn against
Griswold; and so the majority, whose Judgment
Is now scld to be so sacred, was obtained. To
all this we submitted. We could do nothing
rise. In a week from that day ttry Judge on
the bench authorized a committee of their num
ber to say to the Judge who reconsidered his
vote that It was their unanimous opinion that
he ought to resign. These are the facts. AVe
make no comment. Wo do not say he did not
agree to the opinion. We only ask, of what
value was this concurrence, and of what value
is the Judgment under such circumstances?
This statement shows that one Judge
was too Infirm to perform his duties.
He first voted In favor of the constitu
tionality of the legal-tender act and
then he was wheedled into voting with
the other side, so that the first legal
tender deoislon rested on a 'very rotten
basis, and Justices Swayne, Davis,
Strong, Miller and Bradley were entirely
justified In their Insistence that so im
portant a decision reached in this way
ought not to bar out further consider
ation of the question as might arise in
other cases. The Springfield Republi
can, a very strong anti-Grant paper In
1S70-72, and an Independent paper with
Democratic leanings today, sums up Its
review of the case by saying:
Aa for the chargo of packing the court, it
can never, from the nature of the case, be con
clusively proved or disproved, and accordingly
tho memory of President Grant and his ad
visers is entitled to the benefit of the doubr.
EDUCATION IN PORTLAND.
A Teacher Rises to Defend the School
Stein or This City.
BARLOW, Feb. 21. (To the Editor.)
Several derogatory comments in regard to
the public schoo's of Portland have ap
peared In The Oregonlan of late from cor
respondents, and no one as yet has deemed
It worth while to appease the latent dis
satisfaction by denlel or explanation.
Our ready writers may think our schools
have nothing to say In defense, or may
lead others to think ve are what they
say we are "machines, systoms. cranks."
Now, a mild word of reproof and defence.
A system is necessarily set and formal.
So Is the Constitution ot the United
States. But what true American will In
fer that It Is not the nucleus of the best
government In the world? "Who cannot
under It breathe and act as free as a
bird, and do as he pleases, so long as he
pleases to do the right? So with a school
system, and doubly so with the present
system of Portland. Our buildings, the
large increase in school population, our
faithful teachers of long years' standing,
the readiness of the taxpayers and di
rectors to reward their faithful endurance
of low salaries during the hard times,
all attest the popularity and efficiency of
the schools of Portland.
Not as a substitute, but as a worker, In
the "system" for many years, let experi
ence speak.
I never heard one, "Thou shalt not" In
regard to methods, to discipline, nor In
rczard to outline of study by "pages"
even; but always, "Follow your own ideas
of presentation, of government, nnd even
present the general outline given as seems
best suited to your class." A progressive
teacher asks questions if she desires in
formation, and many valuable hints, aids
and methods have been given by those
who by experience and educational inter
est have been advanced to the position of
advisers.
Admonitions were mild and general. If
there were any strenuous reproofs, they
were never given in public assembly. It
seemed to many of us that whenever any
friction came up between parent and
teacher that the "father" Instinct in our
principals and superintendent dominated.
I have often heard: "If the case were
concerning my child, I should probably
feel the same way about It that this pa
rent does."
As for morals: Does not The Oresonlan
continually preach and teach by the
cleanliness of Its pages from day to day
aa well as by Its able Sunday editorials?
A true teacher follows the same line of
moral suasion. Fairness In administra
tion Is better than a sermon Justice in
decisions preferable to a high-sounding
speech. Yet. who knows, except the chil
dren alone, how many heart-to-heart talks
they have heardk how many appeals for
the right, how many gentle admonitions,
reproofs, corrections, have been made to
Induce them to see, to feel, to do, the
right. Few parents lose sleep or worry
over their little household as teachers do
over one or two among the 40 or more
WFAffNF? arFTABFn DR.
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W ea& Jicuo,Lcauuic, vt n&aiuuoa, JwUkiu .uiiuiaa, iigniw
ly Emissions, Nervousness, loss of power in Generative Organs,
cnused by youthful error, excessive use of stimulants which
lead-to Infirmity or Insanity. 50c box, 6 boxes for $2.50, by
mail prepaid. Circular free. Take no other. Manufactured
by the Peau Medicine Co., Paris, Prance.
LAUE-DAVlS DRUG CO.. Distributing A teats.
THinO AND YAMHILL STREETS, PORTLAND, OREQON.
Chamber of Commerce
who overstep the bonds and pull down
her ideals. For we do have exalted ideas
of our profession; we do feel that we
should be a power, "the power behind
the throne"; and to miss It, to have one
child feel that he Is not at the same
tlmo a pupil and a friend, is truly a bit-
ter experience. Teachers are often ac
cused of talking "shop." School is their
paramount subject, their life both In and
out of school. There Is no other care nor
duty to crowd the success of this one
or the failure of that one out of her
mind. The children are the living, ever
present issues with her whose heart and
mind are In the work. For such teachers
there Is no "Thou shalt not" nor "Thou
must." but carte blanche Is given, as
sumed and pursued. Such a teacher could
have The Oregonlan on her desk every
day, could hear from a committee of
pupllst a summary of news for the week;
could have Harper's "Weekly, McClure's
the Review of Reviews, the Atlantic
Monthly or other periodicals lying on the
pupils desks at any or all times. She
could find time to read from book or
paper, could- teach memory gems, "Jew
els five words long," or the Declaration
of Independence. She could take time
to visit the park, "Weather Bureau, print
ing offices, city museum, library, statu
ary hall; could give entertainments for
library fund, or for amusement or edi
fication; she could take her class to
Bonneville or Willamette Falls on an an
nual picnic, and still prepare 95 per cent
of her class for promotion. Such a teach
er and her pupils would seem to be as
Lincoln said, "tho long and short of the
administration." Of course the veto
power existed, but, with the proper ap
preciation of the value of these things,
confidence in the ability of the teacher In
her own way to make citizens of worth,
the veto was ever withheld.
A few days ago the first Item In the
locals of The Oregonlan gave- a little
child's version of her failure. It waa that
she had followed the teacher's Injunction
against reading the lessons at home, and
therefore had not memorized the text and
pictures as others had done. "Why and
how could a parent allow a child to make
such a general accusation against its
schoolmates? Where is the executive force
In that parent necessary to make that
child "a man among men"? If a wee
child can impose upon his credulity, can
make Its father a believer In pessimism
can Induce him to publicly accuse, on the
testimony of Ignorance of the true facts,
what, what are we to do with the morals
of that child? Do our parents not know
that many drills in phonics are given
daily, that supplemental reading Is one
of the necessities, and that the reputa
tion of a teacher stands for the ultimate
success of the child? She is his best
friend when she protects him from the
imposition of an overfond credulity in hla
faculties because he Is simply "the child
of his parents." No, no, parents and
friends of children, be merciful to your
faithful coworkers the teachers. Your
success with your children depends upon
the unison in which you labor; hand In
hand with them In developing the facul
ties of each little mind and In strength
ening the Nmanly Inheritances o'f each
heart. You gave them Jlfe, truly, but let
the teachers, for their sakes, for your
eake, for the sake of humanity, help you
to teach them how to live.
EXPERIENCE.
The strongest known wood Is said to be
lancewood. It3 tensile strength per square
Inch is 23,000 pounds; that Is to say, that
weight Is required to tear asunder a piece of It
one Inch square.
TEXAS OIL STOCKS
BOUGHT AND SOLD.
On commission. Private leased Postal wires.
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NEW YOP.K. CHICAGO AND BEAUMOXT
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Reliable representatives wanted In every city.
Write for Circular Letter.
ADDITIONAL CAPITAL SUPPLIED.
Stock Companies Organized.
Charters Secured In any State.
Stocks and Bond3 underwritten or
Sold under guarantee and on commission.
Good Inventions Marketed.
Cash furnished for any good enterprise.
DANIELS & COMPANY.
BANKERS, G WALL ST.. NEW YORK.
Also London, Fhlla., Boston, San Francisco.
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land. Or., and druggists generally.
OlfciXNAFE. V.ttTirMM Ladle. MltDroi (lit
l la HEi "1 Gold attalll: boiw. mini
I with blae ribbon. Tke no otker. RefqM
I Pro HaTMtitufJaB . J!U
tiosa. Bay t tout Dragjlrt. or mvA 4e. la
iubm r Partienlara, Toatiaiaalal
Mi "Bailer tt- Ladle," m Utttr. hr ra
... i.(l. lO.ailOTmlnacltli. MdU
U Draczliu. Cbleheater CTscmloaLCa-
atatli thl db. afailton SaamM. rHILA PA.
MEN
No Cure
No Pay
THE MODERN APPLIANCE. A poaltlva
way to perfect manhood. Tita VACUUM
TREATMENT cures you without medlctna ot
all nervous or diseases of the generative or
gans, such as lout manhood, azbaustiva drain,
varicocele, Impotency, etc. Men are quickly ra
ctorad to perfect health and strength. Wrlu
for circulars. Correspondence confidential.
THE HEALTH APPLIANCE CO.. room 4T-41
Sara Deposit huildtnsr. 8mtt!. Wash-
peaU's yellow nerve
50c
51
K'CM
i 1 N. m.'A. I
:
SCflw
" iiTl T "ii.7 .M
X llim "f.VXr,
r T- 3'w-
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1 W3
T $
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