The Sunday Oregonian. (Portland, Ore.) 1881-current, July 21, 1912, SECTION TWO, Image 29

The Sunday Oregonian., July 21, 1912, SECTION TWO, Page 17, Image 29

Image provided by: University of Oregon Libraries; Eugene, OR

About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (July 21, 1912)

Prev Page of 72 Next Prev Issue Next Text PDF JP2 (3.7 MB) Clip/Print Image

Return to Top

Prev Page of 72 Next Prev Issue Next

Newspaper Page Text17 THE STTXDAT OREGOXIAX, rORTXAND. JULY , 21. 1912 MORE IPS NEEDED Production Falls Behind Growth of Beer Trade. BREWERS ARE CONCERNED Views of Much F. FVx, of Xew York. Who Is With a Committee Investi gating Hop and Barley Con ditions .on Pacific Coast- Hush P. Fox. s-eeretatr of the United States Brewers' Ajsoclatlon. who is now in Portland, has been in the West for several weffks as member of a committee of the association investigating the question of hop and barley production. The brewing busi ness is coins; ahead so fast, according to Mr. Fox, that it will soon overtake produc tion unless there is new development. "In the period from 1870 to lf10." said Mr. Fox at the Hotel Portland yesterday, -the beer production increased 877 per cent, while the population increased 95 per cent. At the present normal ratio of Increase in the beer business, compounding the Increase year by year, there will be. between 1920 and 11)30. a consumption of 100.000.000 barrels of beer. The present annual consumption Is 83.00ft.000 barrels. The question of pro ducing enough hops and of the right kind is. therefore, a matter In which tho brewers are much concerned. "The preliminary census figures on hops showed In 10 364ft hop farms, of which 2147 were in New York State and 1071 in Oregon. The Oregon farmers produced more than twice as many hops as the New York farmers. The average production in Nw York State has now decreased to about 6O0 pounds per acre, whereas Cali fornia produces an average of 1300 pounds per acre, and on the Irrigated bottom lands 200 to 3O00 pounds per acre. -A survey is about to be made by the" brewers, in co-opratlon with the Depart ment of Agriculture, of hop growing In New York State, to determine the cause of Its decadence. Some of the possible causes are the development of the dairy in dustry and the sale of the best hop lands for dairying purposes. Also there are many hop growers In New Tor who only have 6 to 10-acre patches of hops, which are being run as a side line, without proper equipment. It looks, as if hopgrowlng in New York has been pushed back, on the poorer lands and the question is whether with proper equipment and the application :f the trellis training system hopgrowlng -n good lands In New York State can be made successful. Unless the yield per acre ran be doubled It looks as if New York -:ate would have to quit hopgrowlng. l am personally interested in several hop ranches in Oregon and And those on the jpiands do not pay. The Oregon grower who annot gut at least 1000 pounds to the acre -an not afford to stay in the game in com petition with the rich bottom lands of Ore gon and California. The brewers. In co-operation with the Department of Agriculture, are about to ttart small model testing farms for hops, larlry and rice In California. Jsy the way. Dr. Herman V. Tartar, of the Oregon Ag--icultural College, has been doing some al jable work In connection with hops and :he hopgrowlng interest In Oregon should ft behind him and give him their co operation. "Arapng the matters we are looking Into on the Pacific Coast la the Investigating of the hop properties of the E. Clemens Horst Company. Mr. Horst has done a great deal of good work, from the mechanical side of the industry. In connection with hop picking and drying machinery, etc., which is of Interest to the brewers. There are a'.mo some brewers and others who have been considering the matter from the in vestment standpoint and our association feels it ought to be In a position to furnish r'iable information about the matter to any of the members who are disposed to be interested. Of course, this would be en :lrely an Individual affair and would prob ably be limited to a few concerns. Per sonally 1 think It would be a good thing If tome t the principal English buyers and American consumers of hops became prao 'tcaiiy Interested In the business. It would not only give them a sympathetic Insight into the difficult problems the hopgrower has to face, but their Interest would be bound to lead to the application of scien tific methods, which make for efficiency In administration and greater stability In the market." rf Mr. Fox haa made a close inspection of '.he hop yards In California and Oregon and Inds that crop conditions are unusually good in both states. He would not discuss hop market probabilities. rONTRACTlNtl OF SMALL VOLtME Business Reported From Country on Basis of 79 to 80 Cents for Wheat. A small amount of wheat contracting was reported from the country yesterday on the t.hmI of 79 SO cents, but buyers apparently 1 id not show general interest In the market. Whfat shipments from India for tie week were 2.8G2.000 bushels. compared with 2.632.0UO bushels last week and 2,766.000 bushels last year. Local receipts. In cars, were reported by the Merchants Exchange as follows; Wheat Barley Flour Oats Hay Monday 13 1 13 4 7 Tut-ntiay .. 7 2 Wednesday 6 1 3 2 5 Thursday 11 .. 6 !V 3 Friday S . . 5 2 5 Saturday 7 1 3 . 4 V ea r ao 4 .. 1 1 N Total this week. M 3 37 16 24 Year ago 41 A'i 10 33 H-ason to daie.lt 7 5 1-j 32 M tear ago 157 11 131 20 7i TEX CARS OF WATERMELONS SOLD Fruit Trade Is Good lp to the Close New Kind of Peach Coming. The demand for fruit continued actively up to the close of business hours. Ten cars of wutermelons were received and were nearly all disposed of. Other arrivals were uo cars of cantaloupes, one car of Craw ford peaches that were green, a mixed car of plums, pears and peaches, Ave cars of bananas and one car of onions. Two or three cars of California peaches at- du Monday. A car of Carmen peaches, s new whlte freestone variety, will arrive from Yakima early in the week, A car of HVnatchee apricots is also due tomorrow. The market was firm on peaches, melods a:;d berries of all kinds. Oregon green corn was on sale at 40 cents a dozen.' NO NEW HOP CONTRACTING REPORTED I'rop Prospect on Continent Are Vine, Ac cording to Kola Nris. No further business in hop contracting was reported yesterday. A big block of 500 bales of Yakima 1011s was sold. The price was variously reported at 22, -i and 2.. ;tnts. Kola Xe!i writes from Frankfort-on-Maln. tinier date of July 4. that' hop crop pros pects are generally favorable on the Con tinent and promise a larger yield than last year. Prices for 1911 hops are on the de cline on account of favorable crop reports. Poultry Market Weak. Tbe poultry market was weak at the c :, with some stock carried over. Hens vld at im$ 12 cents and Springe at 14 13 cents. Eggs were firm and unchanged. The butter market was firm and well c!cartd up. Cheese was also firm. PORTLAND MARKETS. Grata. Floor. Feed, Etc. WHEAT Track prices, new: Club, 8c; blues tern. S3c. Old: Club. 84 1 Sic; red Russian. siQSdo: otuestem, Satyssc. Fi.Ot'R Patents. 15.10 Der barrel; straights. $4.70; exporta, f4 2; Valley. 15.10. HA y ximotny, insiiiiv, auaixa. ia.w clover. $10; oats and vetch, $13; grain bay. jo. uit r c-TT-Wina Ttran. 25.50 Der ton; shorts. 2.50: middlings. S3'2 CORN wnoie, cr.. t OAT8 No. X white. 34fr35 per ton. Vegetables and fruits. FRESH FRUIT Cherries. S01Oe per pound, apples, old. $1-50 3 per box; new. box: currants. $1500175 per box; plums. 7cv 11.26 per box; pears, $1.75 v 2 per box; aoricots. $ldl.S5 per box; grapes. ;0 per crate. .. r.r BERRIES Raspoerries. i.nii.9! crate; loganberri-s. 1.751.JM per crate: black caps. S2&2.25; blackberries, $1.50 -per crate. , , TROPICA! FRUITS Oranges, Valencia. $3.25 j 3.75. California grapefruit $ $: lemons. S5 et-SO per box; pineapple. o pr pound- MELONS cantaloupes. izow2.t-' H crate; watermelon.. 14,9 10 pr pound. VEGETABLES Artichoke.. 856 75c Pr dosen- beans. 23c; cabbage, lgl4c par pound: cauliflower, $1.25 p-.-r dozen; celery. S5fctl per crate; corn, 30r40c per doaen; pound; bead lettuce. 20-nT.c per dozen; pea. Hfrc P-r pouna; pepper.. iusn.fi. per pound; radishes. 15-i:i'c per dozen; rhubarb. '4c per pound; spinach. 4oc per b&10c' Per pound. POTATOES Jobbing; price.: Burbanks. old. $1 per hundred; new. per pound, lc ONIONS California red, 1 per sack; yellow, $1.25 per Back. ' SACK VEI1ETAHLLS carrots. sack: turnips, SI. 25 per sack. - Dairy and Country Produce. EGGS Case count. I3e; candled. I5e: ex tra. 27 false per dozen. BUTTER Oregon creamery butter, cube. 10c per pound; prints. 310 per pound. CHEEjE Triplet, and daisies, lTo p pound. PORK Fancy. lOfflOHe per pound. . VEAL Fancy, lSVi14o per pound. POULTRY Hens, llHttl-':: broiler, 14 13c; ducks, young. 12c; geese. 10611c; tur keys, live, ISc; dressed, 2425c Staple Groceries. SALMON Columbia River. one-pound tails. 2 25 per dozn; eight-pound talis. 2.95; ona-pound fiat. $2.40; Alka pink, one-pound talis, $1.35. COFFEE Roasted, in drums. SSltOC per pound. NUTS Walnuts. ll!4e pee pound: Brazil nuts. 12Hc: filberts. 14015c; . monds, 1721c: peanuts, 18c: cocoanuts, BOe 9$1 per dozen; chestnuts. 12c per pound; hickory nuts. BIMOc Per pound. HONEY Choice. $3.75 per case; strained honey. 10c per pound. SALT Granulated. $15 per ton: hall ground, 100s, 18.50 per ton; 50s, $9 per ton. BEANS Small white. 5.40c; large white. 3.20c: Lima, 6.80c; pink. SVc: Mexican. 4c; bayou. 4c RICE No. 1 Japan, 6c; cheaper grade. 55c; Southern head. 174C SUGAR Dry granulated. $5.95; fruit and berry, $5.85; Honolulu plantation. $5.90: beet, $5.70; extra C. $3.45; powdered, bar rels. $d.20; cubes, barrels, $6.35. DRIED FRUITS Apples. 14c per pound; apricots, 1691bVic; peaches. 12914c; prunes. Italians, 10tt10e: silver. 18c: figs, white and black. 6 7e; currants. 7V-c: raisins. loos. Muscatel. 47Hc; bleached Thompson, lH4c: unbleached Sul tanas. 8S,e; aeeded, TttffSttc: dates, Per sian. 8Hc per pound: Fard. 11.80 per box. Hon.. Wool and Hide. HOPS 1913 contracts. 30031 1911 crop, 3Ji&25c. MOHAIR Choice, 82b per pound. WOOI- Eastern Oregon. 14 18 14 0 per pound according to shrinkage; Valley, 21 0 23c per pound. PELTS Dry. 13c: full wool butcher pelts, $1 .2591.75; shearings. 103uc HIDES Salted hides. llc per pound: salted calf. 20c: salted kip, lia12c; green hides. 11c; dry calf. No. 1. 25c: No. 2, 20c; dry hides. IDS 20c: salted stags, 7tttj8c; green stags, 6H7e. OASCARA Per pound. 55Sc; car.ots, 5i4&3c. GRAIN BAGS In car lots. 10 c. Provisions. HAMS All sizes. 16XlTKr: skinned, 16'iftl7e: picnics. 12e; boiled. 26ttc. J1ACU.7) fancy, -ov4ic; cuwes, .j - DRY SALT MEATS Backs, dry salt. Ills aiou.. . u . .mnkt 1 '( 1 ir bellies, dry salt. lVc; bellies, smoked. 16c. 1. A It u 1 lerce oaeis. cairico, wii., pound. Sfcc: leaf, three-pound palls, $8.50 per case. MISCELLANEOUS Pigs" feet, kits. $1.35; sliced beef, lnsldes. $23 per case; lrled beef, insldes. 25c per pound: bologna, canvas back. lOHc; minced ham. 12c. linseed Oil and Turpentine. LINSEED OIL Raw. barrel. SSc: oiled, barrels, MOc; raw. cases. 03c; boiled, cases. TURPENTINE Cases, 69c; barrels, 66 He. Bank Clearings. Bank clearings of the Northwestern cities yesterday wero a follows: Clearings. Balances. Portland $1,54.H7 $162.00 Seattle 1.21.2.274 1:14.737 Tacoma ;ao.sio 2.ot.s Spokane 525.111 12.843 Clearings of Portland, Seattle and Tacoma for the past week ad corresponding week In foimer year were: Portland. Seattle. Tacoma. 1912 fll.5?.ol $10.I!5.8 4.O&.2S0 1U11 9.90.S.7U8 0.1H7.172 3.811. 100 1U10 .... Il.4f4.184 11.553.415 S.We.112 1908 .... 6.031. 11K 12.2:!8.S32 0.710.383 1908 .... 4.8611.844 8.215.732 4.071. 392 1907 .... 0.324.1X1 l.8:IS.5:l 4.833.256 1900 .... 4.537. SI'S 8.107.245 3.6.".. 90 15 .... 3.453.100 6.9:12.252 3,0S3.ti8 1904 .... 3.430.1 3.5S2.742 1.747.964 1903 .... 2.777.942 4.103.7'.5 l.WS,17S 1902 2.212.S0S 3.354.533 1.240.053 1901 .... 1.752.932 2.251,034 1.002.370 LIVELY WEEK III YARDS LIBERAL Rt'X OP STOCK AXD GOOD GBXERAIi DEM AXD. Hog Market Held Vp Firmly, but Cattle and Sheep Eased Off. Satnrday's Trade Slow. Ther. was very little trading at the stock yards yeterdy. a Is usually the case on Saturday. The only receipts were two loads of hogs, shipped in by J. W. Sevier, or Mc Mlnnvllle. Of toe shipment. 135 head, av .ratine 176 nounds. were sold at $8.35. The rang, of prices at the yards was as Good steers 00 6 60 Medium steers ' i?" ' i; Choice cows 5 IS$ - ?? Good cows J" j.J Medium cow '?? H? Choice calves I-yiS . H ,. K.avv mItm . 6.0Od 6.50 Bull. " " Stags , , ... 8.009 8.40 Heavy " -26 '"O YetXgT ?009 4.25 Wethers 3.'0i 4.3 Ewes . . . 3.00 9 3.50 4.0OO' 5.25 Lambs Oinaha Uveotork Market. SOUTH OMAHA. July 20. Cattle Re ceipts 100; market steady. Native ""; n ;,iau. - ho ferft. S3.50S7.40, Western" steers. $57.75: Texa. steers. $4.50 96.25: range cows and neuers. '"7 ners. I2.50&4: stockers and feeders, 3.ii0g 6; calves. $48; bulls, stags, etc. $3.i5 Hogs Receipts 500: market strong to 5c higher. Heavy. $6i07.25: mixed. .. 10 7.3i; light. $7 S 7.50; pigs. 8; bulk of sales. $J.ooe I.4U. . . Sheep Receipts 100; market stronger. Tearllngs. $4.T5t3 25: wethers. $4.25 4. S. iwta, 53.75tf4.13; lambs. td-Sofr i-o. Chicago Livestock Market. . . . .. . on Dutnt 1 k- mnrket V nil. AVfVJ. Juii - " ' ' c - ' - slow, steady. - Beeves. $5.j049.4o; Texas steers. $4.809705: Western steers. $j.SO 7.S0; stockers and feedera $3.856.50: cows ami heifers. $2.600 T..M; calves. $5.50 S.oO. riogs neceipfcs w.ii; nm. m . higher. Light. $7.40r7.0: mixed. ,.30'gr 7.90; heavy. $7,108 7. S5; rough. $..107.85. Sheep Receipts 400: market steady. -tive. $3,156-3.25: Western. $3.403.23: year lings. $4.103 3.75: lambs, native. $4Sa-40; Western. $4.23gT.4Q. Metal Market. NEW YORK. July JO. The metal markets we're generally dull and nominal. Lake cop per. i:iOl74c: electrolytic. 17!tfl7kc; casting. lTt17c Iron so. 1 foundry. $16tJl.5o: No.- 2 Northern. $15.568 1: Southern grades un changed. Chicago Produce Market. rnirAOO. July I". Cheese. steady. natsle. 15H16"te: twins. 15itjlil.c; Young America. 15H15c; long horns. litjlSHiC. Wool at St. LmiIs. rltory and Western mediuma2062tc: tine medium, llt't; in A 3IEEL SHARES SAG General Stock List Drooping From Neglect. VOLUME OF SALES SMALL Xews of the Day Is Meager but Most ly Favorable Advances in Price of Steel Products Are An Announced Bonds Steady. NEW YORK, July 20. Dullness attend ed today two-hour session of the stock exchange. The list seemed to have lost some of its recent firm undertone, sev eral standard issues reflecting a degree of pressure. Steel shares were Inclined to sag, but no more o than uch other leader as R.ariinr T'nlon Pacific and Amalgamated Copper. -In fact, the dropping tendency probably resulted as much from neglect or indifference' by the professional element a from any other cause. General new wa meager, out uiuaii? favorable. One of the largest of the steel corporation' subsidiaries issued notice of $1 per ton advance next week in wire and allied products, while makers of wrought iron pipe were reported to have withdrawn quotations on pending order preliminary to a general rie in prices. - i.tn.1 h,,if loans decreased over Slu.- 000.000. with a cash gain of $7,500,000 and a reserve Increase of practically $8,500. 000, bringing the excess cash reserves up to $18,000,000 comparea who wc..i. weeks ago. United State Dona uncnamseu wu week. CLOSING STOCK. V1UUTA liu.13. Amal. Copper Co Am. Car & F., com.. Am. Can, com 83V4I !3V 1 58 36, 36V4 l--6 116-4 52"4 52V4 43Vs 42Vi 12S 14 12S 83-S, 83Vi 107 V 2 41 Vi lVi 108 Vi 108 Vi 102 109 Vi 109 Vi 73V4 91 1 205 ! 208 27 2T 9tV4 IT 17 33 103 103 138 80 80 SI 39 65 05 72 143 145 15 82 82 167 Vi 19 19 33 35 " 35 1 42 53 Vi 53 179 17'.i 42V4 137 137 Vt 26 131 131 120 120 20 V4 58 5SJ4 167 167 ..... 24 157 157 31 140 27 27 59 nr. 36 59 59 20 20 116 115 32 32 110 116 81 121 121 31 123 123 116 lie 35 101 185 165 95 89 2T 27 84 24 48 48 3J 73 110 110 29 29 77 77 22 13 81 168 168 91 53 52 100 100 70 70V4 111 62 62 49 4 4 13 13 82 82 76 76 52 6 do Dreferred 110:116 Am. Cotton Oil, com. Am. Loco., com Am. Sugar, com Am. Smelt., com 5274 ( SZ-ik 434 439k 12S,12S 83j lOSi.,108 i6i'?,!i09T4 do preierrea Am. Woolen, com..... Anaconda Mining Co. Atchison, com do preferred R- & O., com. . .' Beet Sugar Brooklyn Rapid Tr. . "92 I 92 Canadian Pac, com.. Central Leather, com. 2B6 200 2714 27 i63'i63?4 do preferred C. G. W., com do preferred ....... C, M. & St. P C. & N. W.. com Chesapeake & Ohio.. Colo. Fuel & Iron. c. Colo. South., com.... SO 80S do 2U pref erreo. . . . do 1st nref erred... 65 145 '82" 'is" '35 65 Consolidated Gas 145 Corn Products, com.. 'si" 'it"' do preferred Delaware & Hudson. Denver A Bio U-, c... do preferred Erie, common do 2d preferred.... An lor nref erred. . 53 5:1 General Electric jl8U 1S0U Gt. North, ore lands. Gt. North., pfd. Ice Securities . Illinois central ... Int. Harvester .. . . Interurban Met., c. do preferred ... Lehigh Vitlley Kansas City South. .131 .120 131 121 . 50 .108 39 168 Louisville 4 Nashville! 158 Vs 158 Vi Mexican National, 2d. M., St. P. & S. a. M. Missouri. K. & T.. c. do preferred Missouri Pacific National Lead Nevada Consolidated. Xew York Central . . N. Y-. Ont. Jk West.. 27V 27 Vi 3 3914 59 59 20 20 116 llttt Nor. .& Western, com North American .... Northern Pacific, com Variric Mall S. S. Co.. 116 :s Pennsylvania Railway 123 231, P G.. L. fc UOKO . Pressed Steel Car, c. do preferred 116 Reading, com do 2d pret do first pref. Rep. Iron & Steel, c. do preferred Rock Island, com.... do Dreferred St. L. ft S. W.. com. do preferred Southern Pacific, c. 110H 29 i 77 Vi 110S Southern Railway, c. do preferred Texa & Pacific 29 77 V Tol.. St. L. vv.. . do preferred Union Pacific com... do preferred U. S. Rubber, com.. do preferred IX S. Steel Co., com. do Dreferred l6 169 t'.-iivi 'nik' 107 K'7 701, 70 62" 62V. "4" "4H 13i 18H 82 82 76 76 Utah Copper Virginia Chemical .. Wabash, com do preferred Western Union Tel.. Westlnghouse E!oc . Wisconsin Central, c. Wheel. A Lnke Erie . Total sales for the day. 82,300 shares. BONDS. Ewniflhed bv Overbeck & Cooke Co.. Portland. Bid. Asked. .114 113 . 90 .121 . 8 08 .108 108 . 89 89 .108 109 . 94 93 I. U4 94 . 91 91 . 117 98 92 92 .1(11 101 .10O .100 .95 96 . 96 96 ,. 99 99 . 95 96 .95 94 .. 78 80 . 88 88 . . 68 68 .. 94 95 .. 8.4 .. its 8 . 89 89 .. 82 83 ..85 87 ..91 92 .. 90 . . OS 99 ..87 88 .. 71 72 .. 87 87 .. 81 81 .. 92 93 ..106 106 .. 98 98 . 98 99 .. 68 69 .. 93 94 ..94 95 ..103 104 86 .. 97 97 ..113 114 .. 94 94 .. 90 90 .. 79 78 .. 77 79 ..loo-.j 101 ..101 101 .. 97 97 ..102 1"2 ..100 101 ..100 101 ..102 12 ,tW2 102 ..113 114 ..113 114 .. 68 67 .. 75 ..... .. 68 . 67 97 ..94 93 ..83 .84 .. 92 2 .. 99 100 Atchison general 4s Atchison conv 4s Atchison adj 4s stamped... Atchison conv 6s At Coast Line cons 4s At Coast Line "L & N coll" Baltimore A Ohio 3s t o M t-' ' ' . C B & Q joint 4s C B Q Hi' 4s C B 4 Denver 4s Chicago ft East 111 4s Chicago R I P ref 4s . . Chicago R I P Col trust 4s Colorado ft Southern firsv 4s. Denver ft Rio Grande 4s Delaware ft Hudson conv 4s. . Erie first cons P L 4s Tnr Wet 4U.B Japanese 4s Japanese first 4s Japanese second 4.. Louisville E - acu vino u.u . . i ,. a tt Hm. ........ . Missouri Paclfio 4s. ew tors i-eoLrai T - Philippine Railway 4s Reading general 4s St L ft 8 F ref 4s. . . -Cnlon Pacific first 4s.. Union Pacific conv 4s.. Union Pacific ref 4s... United States 3s registered. L.nttea oiaLw . United Railway S F 4s United Railway St L 4s.... Wabash first 4s Western Union 4 Westlnghouse conv 5 Western Pacific 5s Wisconsin Central 4a Stocks BOSTON. July 2" Alloue 45 Amalg Copper. . 83 at Boston. . Closing quotations; U'UnhraV . 68 Nevada Con zu !N!pisslng Mine. 7 U Vnrth Riitte SO A I- cm.-- Alison. Com . . 6 B4CC48M. T ... . a. iu-,nl . 7R 'North Lake 5 !01d Dominion... 56 Cal ft Hecla....520 Vi Qulncy ......... 90 Shannon 16 VI e.. 1.. 47 Centennial Cop Ran Con Co 66 E Butt t;op j. Franklin H Glroux Con . 4 rw anh, fOlt . . 54 'fun ft Bo Mtn.. 1 1. , l amarac a U S S R M... 40 45 49 rsre.ne Cananea. 9 1 nraeAP-Jw1 r vrnx-all Cnn 1 55 Kerr Lake 2 'V tah Copper .Co. 61 Lake Copper. . . . S6 la Salle Copper 7 Miami Copper. . . 29 twinona jwoiv.nna ......aw Money, Exchange. Etc. nominal. time nn- . " per cent: 90 days. 33 per cent; six monins. i,c- ,j. Starllnc exchange firm, with actual buas- ness in bankers' bills at 4.84T5 for 60-day 0111s ana at ss-sii? tor uemaiiu. commercial dius. .4.0-, Bar silver. 60 c. Mexican dollars. 48c Government and railroad bonds, steady. LONDON, July 10. Bar sliver steany. 27 d per ounce. Money. 22Vi per cent: short bills. 3 per cent: do, three-month SAN FRANCISCO. July 20. Sterling on London. 60 days, 84.85: do, sight. 4.S7. ii..... ,i,ht 31.' teleranh. 5. Condition of tbe Treasury. ... . ,...,.T..v t.,1.. oa At the beain- ning of business 'today the condition of the United stales treasury ww. Working balance In Treasury offices, 93, 104.778. - ... in hanks and Philippine Treasury, 136.- 272.888. Totals of tho general runa. ioi,ov,oo. Receipts yesterday. 82.303.772. Disbursements yesterday. 81.027,961. , Jjencil to aaio into J v., 519, as against a deficit of lo,605,947 at this time last year.- t rn.g ,iiM, Panama Canal and public debt transactions. SAN FRANCISCO PRODUCE MARKET Price Quoted at tho Bay City for Vege tables, I-rmta, r-tc . . -. . r l . : . 1 . T..I. OO Th follOW- lng produce price were current here today. Fruit Apples, cnoice, i.d, .. a Clifnmia lemOnS. Mexican iimca, "'. - .- choice. $4.50; common. 11.50 pineapples. i 63. Cheese 1517c Butter Fancy creamery. 28c Eggs Store, 23c; fancy ranch, Mc v" ..vi.. r-..mh.r 2.1 s 40c: garlic. -, .. Kits' ..r'ne beans. 1 'si tWCi green y-t " . . ' 4c; somatoes, 24c; eggplant, Potatoes River Burbanks. i5cJ1.10. Bre con Burbanks. nominal; Early Rose, nom inal. . . .. Hay Wheat. $121: wneai aou 1219; alfalfa, 1313.50. . . i,cn nnopfiir sacks! teceipts r iuui, wheat. 655 centals; barley, ia.100 centals; oat. 1935 centals: potatoes, 4490 centals; nay, 92. tons; wwi. GASH GAIN IS HEAVY NEW YORK BAXKS' RESERVES ARE LARGELY INCREASED. Conservative Policy Shown by Re duction of Over Fifteen Mill ions in Loans. , ...... nn t. . atntement of the actual conamou . , banks for the week shows that banks hold 19.165.800 reserve in excess i - ' qulrementa This Is an Increase of ,4o9, 250 in the proportionate cash reserve as compared with last week. The statement follow: neerease. r.a. rrrrrr. .v.. $21,429.00? Snecla .... 353,160,000 7,lfc7,uuu tspecie ,v,,.s ndrt i?ai "iSf. i .nJ'fnrooi It.JfoloOO tircuiition 45,942.000 132,000 Bank'aih reserve in vault, f367.832.000; trust companies- cash reserve In vault. i4. .nn nnn. ....... rash reserve. $442,34.- non'. vn. lawful reserve. 515.659,150; In crease, 813,084,500. Trust companies' reserve with Clearlng-riouse memuer per cent cash reserve, tm,'.- ......i .nnitlnn Decrease. Loan 2,bjs.o J Legal tenders 05.a1u.vw I'-on Net deposits 1.900.404.000 7,o80 Circulation 40,0Ui.uuu Trust companies' cash reserve. o.ii.-nnn- excess lawful reserve, 19,165.800; iB- crease. J8.459.250; trust companies' reserve. 170,869.000: banas casn rewi J367 420.000; specie, 8357,099.000; increase. 7,990.000; aggregate cash reserve, 8445,67a.- 000. Summary of state banks and trust com panies In Greater New York not report ing to the New York Clearing-House: Decrease SS22.037.700 Jl.844,700 Loan 67.346.300 -136. SOO e"" ........... ... 701. 696.600 4.013,600 Total deposit Increase. The Financier will say: . . . - . . . i x n , v... wnien The now or caeii lvj " -" ' " - has been rather heavy during the week, ha placed New tors oanas i . ux " position, wie . - 1 .l . . Kotiirriav having cording to mo r ..... ... w hjt titimliis been .. '"'T'r"", Ysif- udovo me a. ii .xiMa. SOW. v Tn D&n K wnn w wo . inr.aH hv a further or conservaiion '"u,i-a,-v reduction of llo.i."-- in ju-. port of actual conditions. The statement figured on the basis of average daily re turns was even more striking than the ac tual condition report, loans having shown a decrease or neny io,uov,vUv, Increased x.ouu,uuu. - traotea i. .'.-. 1 t.-.. . f pansion of $18,084,500 in reserve, the sur plus on the average calculation standing at 15,059.iou- The successful effort which the New YorK banks have maae in iirouiincuiug cash position is timely in view of the com- . i ( nntv frr,m the lng CrOD ueilliiimi, . Unlted States, but from Western Canada as well. unmisiaKaDie muitttnuu. that money shortly ought to move to a higher level. Coffee mod Sugar. -wrm-.i.- T..lw Ofl PnffoO fllfUTPi closed steady at a net advance of 4 to 6 points. Sales, &.duu Dags. gust. 13.05c; September. Ojr; January. 1338c; February. lS-c: Mareli, 13 44c April, Id-ioc; - Spot coffee quiet. Rio Nc 7. 14 c; San tos No. 4. 16c. Mild quiet. Cordova. 16W 18c nominal. Raw sugar steaoy. ""fl" . ' .1 V,i 3.48c: centrifugal 96 test. S.9S: molasses 89 test, 3.23c. Ketinea .u 1"'Vi."'e, o 5 90c: crusnea, o.oo. f" t 5.35c; xxxx powdered. 5 2oc; powdered. 5.20c: granujatea. uiic 5.10c confectioners' A. 495o; No. 1. 4.9oc No. 2. 4.90c; No. 3. 4.80c; No. 4. 4.8oC, N-o 5 4.75c; No. 6. 4.70c; No. 7. 4.65c; o. 8 4 60c: No. 9. 4.55c; No. 10. 4.50c; No. 11. No. 12. 4.40c; No. 13, and Nc lii 4.35c New York Cotton Market. -NEW YORK. July 20. Cotton futures ,.,, ...&dv 4 to 8 points lower. July and Hop, Etc., at New York, wpm YORK. July 20. Hops Weak. Pa cific Coast 1911. 3033c; old olds. 12 20c Hldestjuiet. Central America. 24ci BpSe0tVo!e2umCteady. Refined New York x.is , lieorefined New York bulk. $5.00; Phade!?hla ' babels. .860: Philadelphia bUWoof Firm. Domestic fleece XX Ohio, Iondon Wool Sale. LONDON, July 20. The offerings at the wool auction sale today were principally rss-breds. and amounted to 10 000 bales. All grades were quickly sold at firm rates to the home trade and American. The few merino, offered were taksn for France American purchase to date are estimated M loo. bales. Next week 58.700 bales will be offered. . Naval Store. SAVANNAH G.. July 20. Turpentine flrrn 43'cf sales. 580: receipt. 1100; shlp- "i.'in53:".30; receipts, 2900; shipment: 00: stock 1M.JW J6.10- D S6.85; E. 86.80; F. O, H, I, $7.02, K 7.05; St. 7.10; N. J7.40; WG. 17.60; WW. 7.0. Dried Fruit at New York. NEW YORK. July 20. Evaporated apples rteadyT fan" 6Mc; choice, 89c; PrKnJ stfadrcallfornla,-'(89c up to S0-40c; Oregon.. 6V!!c Peaches uqiet: choice. 66e, extra choice, 77c; fancy. 7H69c Ialnth Flax Market. DTJI.UTH. July 20. Linseed on track, to arrive and July, L37' September, 81.89 bid; October, fl.82. Plion as Norsemald. Strand. At Platte Fougere Lighthouse Sta tion, .Guernsey, the- baby Is put out on the common to sleep in the open air. In the pram is cigar-box containing a telephone transmitter anJ a clock. Wires running to the house enable the busv mother to listen tor baby's cry at intervals of work, or continuously if seated at the table. The ticking of the clok indicate that the WaAvsitter is w.'i properly. i WAR SCARE IS OVER Big Crop Estimates Pull Down Price of Wheat. CLOSE AT CHICAGO WEAK Expert Places the Total Yield at Seventy Millions Over the Gov ernment's July Forecast Ne braska Shipments En Route. CHICAGO, July 20. Big crop estimates took the place of the Dardanelles scare as tho chief influence today In fixing the price of wheat. Official notice that the closing of the Dardanelles had been deferred acted as a bearish lever at the start in the wheat trade, but was forgotten later when attention turned back to the crop outlook In the United States. A leading expert Just re turned from a tour of the Northwest and Southwest predicted a total yield of more than 700,000,000 bushels, as against the Government July forecast of 629.001X000 bushels. He also raised his Winter wheat estimate to about 400.000,000 bushel. State ment that Nebraska would enter the lists next week and had shipments already en route here pulled the market down nam in the final half hour. Week-end ooverlng by short held corn comparatively steady until lato In the day. when values ragged on account of rain In portions of Nebraska, where drouth" com plaints had been heard. . Wet weather in harvest sections helped the price of oats the greater part of the time. The market weakened in the end with other grain. Packers received the credit for the per sistent buying witnessed-in provisions. - The outcome was to raise pork 7c to 10c lard 6s to 7T10c and bacon 2o to 5c. The leading futures ranged as follows: WHEAT. Onen. High. Low. Close. .97 .93 .96 1.00 July . !97 f .97 .96 Sept. .tl .:? Dec KG .97 .95 May ...... 1.00 101 CORN. .68 .64 .56 .57 Tiilv .69 .65 .56 .57 .69 OS .64 .56 .57 Sept. .63 .50 'i Dec. May .57 OATS. .43 .34 .35 .37 July .43 .83 .34 .87 .42- .8:1 .34 .87 .42 .33 .34 .87 sept. Dec May MESS PORK. 3 17 85 17.72 Sept. 17.75 17.75 17.85 18.17 Oct. 11. bo Jan. 18.17 ,7.87 17.80 LARD. July 10.52 10.37 10.62 10.65 10.70 10.27 10.55 10.67 10.75 10.30 Sept. lu.oo Oct. 10.70 10.8O Jan 10.27 1O.30 SHORT RIBS. Sept. 10.35 10.57 10.52 10.5? bet. ..... 10.52 10.52 10.47 10.4i Cash quotations were as follows: Flour Steady. Winter patents, 4.504.70, straights. S4.15&4.60; Spring patents. 6.75; .tralght. 4.60&4.85; bakers, 4.26 4.45. . - . ... Barley Feed or mlxlnt, new. 50e55c; fair to choice malting, new, ow.u. Timothy seed $6.607.60. Clover seed $lo18. Pork Mess, 17.0el7.62. Lard In tierces, $10.55. Short ribs Loose, 810.42. Total clearances of wheat and flour were eaual to 86.000 bushels. Exports for the i .... k,. ur,,irt'A were eaual to 1.984.000 bushels. Primary receipts were 1 119,000 bushels, compareu win, bushels the corresponding day a year ago. Estimated receipt, for Monday: Wheat, 12o cars; corn, AZS cars, uaba, -" " - " 82,000 nead. Minneapolis Grain Market. MINNEAPOLIS. July 20. Close: Wheat, July 81.04; September, 90c: December, 95c Cash No. 1 hard. $1.05; No. 1 Northern 81.04: No. 2 Northern, 1.07; No. 3 white. 99c681.00. Flax $1.95. Barley 395c. Corn No. 2 yellow, 74c. Oats No. 3 white, 44&45c. Rye No. 2, 70c. Pneet Sound Grain Markets. TACOMA. Wash.. July 20. Wheat Spot: ... . .i.,H cm Sentember deliv ery: Bluestem, 85c;' club, 81c Yesterday' car receipts: wneai, i; rarn, x, . t. T.,i,. n whMt Blue- AUAlliji', - -- - ... stem. 83c; forty-fold. 80c; club. 80c; fife. 80c; red Russian, ic. lesieruaj . oelpts: Wheat, 21; corn. 4; flour. I; nay, 4. Grains In San Francisco. SAN FRANCISCO, July 20. Spot quota tions: Walla Walla. 1.601.62; red Rus sian. 81.65 1.70; Turkey red. L70 8,1..6: bluestem, 51.66 1.6 i ; teeo. wine. 137; white oats, 1.801.85; bran. 28i 28.50; middlings, J36S7; shorts, $33. Call board sales: Wheat, no trading; bar ley December, 1.32 per cental; May, $LS7. European Grain Markets. xrxTT,rTsr T.iW 20. Caraoea easier ten- v,,,,-L.r. holrllnf off. Walla Walla, September-October shipment, 6d lower, at 37s 6d; nominal quawuuuo. .i.b'" markets firm; French country market, easy. x tvi?tuoot. .Tiilv 20. Wheat October, 7 2d; December, 7s ld. Weather cloudy PUPILS PLAY HiSTORY STUDENTS FIND KEAIISTIO IN" STRTJCTION HELPS. Classes Are Held on Sun-Dappled Lawn and Scenes of Past Are Enacted. LONDON, July 13. (Special.) The romantic qualities of history are now being extracted in some of the Lon don schools in a way that brings the dusty records of the past very vividly before the scholars. At the Clapham Secondary Scnooi, lor instance, me m tory classes are held on a sun-dappled lawn, which for the time being is con verted into a sylvan stage, whereon the girls enact short scenes from hls- IUI J. The works of historical novelists are sometimes called in as aids to the chil dren's imagination, but it is found that the costumes of the period and the simple dialogues provided enable the pupils to create their own atmosphere. Scenes from Roman and early British history are very popular at the Clapham school, especially a pretty playlet de scriptive f a visit to the Druids, in which a chanting melody is Introduced. as 20 Druids in attitudes oi prayer are -i A . A , V. a ar.rrt mistletoe. Even chemistry is disintegrated into component elements of romance at this school. They have a play in which simple chemical qualities are personi fied, and distinguished chemists, in cluding Madame Curie, are introduced as characters. This method of playing children into knowledge is gaining ground in many educational esiauuon- - . nMnf that American child study, made known to Britishers in numerous treatises, is Deginnmg to bear fruit In the old country. Young art students in the metropolis are also excited by the concerted ac .i . .nv.rfnl art natrons, ln- tended to promote mural decoration in t t-. . nrtnln extent this trail 1.1.1 ' 1 1. i ,J was biassed by some young artists who volunteered to cecoraie ine wan the Borough Polytechnic The main . . .. ,4a.rtent1nn ia comlnsr. impeLua i.w - however, from a strong committee or .eminent artists ana experts worsinn in conjunction with the art patrons. who arranged an aisiuiuua ml biuucuu designs, now open at Crosby HalL T , I ... 1 , 1 ..V. A ..a, ,., lilrj, FM- mund Davis and others have induced school committees to give .wans m their schools, and other authorities to offer spaces in public buildings, to gether with a sum of money to remu nerate the young artists chosen" to paint the designs. So far the Middle sex Hospital has offered the biggest figure, $500 each for four panels. Walter Crane, who with others has adjudicated upon the designs now on exhibition, Is highly pleased with the talent evidenced, and thinks his com mittee have discovered a new and re munerative line of business for capable young artists. ANTI - ZIONISTS CONVENE ZangwiU's Followers Find Two New Places for Jewish. Colonies. VIENNA, July 20. (Special.) Those Jews who dissent from the Zionist movement, with Israel Zangwill at their head, have -now found two new coun tries where Hebrew settlers could form i majority and so secure an autonom- tus administration. The advantages of these latest lands of promise are now under consideration. , One of them is the Portuguese col ony of Angola, in Southwest Africa and the other a Central American state which may not yet be mentioned as ne gotiations are still in progress. In this connection a congress of the Jewish Territorial Organisation, with Mr. Zangwill in the chair, sat here for four days with closed doors. It was learned that Mr. Zangwill pointed out the trreat difficulties that had been en countered in finding a suitable coun try. In 1907 Turkey, fearing an Italian occupation, offered them Barca (or Cyrenalca), the eastern division of Tripoli, but this proved unsuitable for colonization owing to the lack of water. An attempt to get land in Australia failed owing to what Mr. Zangwill de scribed as the narrow-mindedness of the Labor party there. Offers In Mexico and Paraguay had to be rejected, owing to the unsettled state of political ar faira in those countries. The proposal to work some concessions of a Brazil ian railway company also fell through, owing to tho concessions proving in sufficient. .There remained but Angola, a rich and fertile country under the Portu guese flag, and a certain central Amer ican State. The Portuguese Chamber had passed a bill opening the former country to Jewish settler The Congress passed a vote oi manas to the Portuguese Chamber, and a committee . was formed to study the merits of the two projects, together with the London Council of the Jewish Territorial Organization. A land mort gage and agricultural bank, with a capital of two million pounds sterling. will be estabiisned in Lonoon. The council elected Israel Zangwill, President Maver: A. Soielmann, London, and Dr. Jochelmann, Kleft. presidents of the international council of tne or ganization. BADGER A WASP -KILLER Fond of F.oney and Its Thick Skin Impervious to Stings. Washlnrton T. C.) Post. The badger Is indeed a creature of . U . . 1 t.w n.nnla AVOr Ke One in a wild state, for it never ventures to leave us nome, tar unuei irrntmH urttii the dark has really come, and is home again before there is tbe faintest nusn oi oawn m me Eastern sky. This extreme shyness 1 1 us ciiiiiau l i. ....... .- -- which certainly exceeds the facts of tne case. The greatest treat a badger can meet with Is a bumblebee's nest, for it loves lilt; nunc, uuu iu . . .lit. .... Imnai-vlOMS tfl thftr fttln?S. On one occasion I found the spot where a badger had enjoyed such a feast. The nest naa Deen aiming mc uw, brown, fallen leaves that had lain since the previous autumn under the trees . T, ha.4 Viaan ntflilA Of ui a. tuuu. . . " shredded leaves and moss, but all that was it.ii w c v . . little black and yellow, angry, buzzing owners, who were crawling ovei ruins and flying backward and forward in great aistress. I passed the spot nearly every any , . .....I. an A nfltul tlOIV the indUS- -!.... it, 1. . kaso ....varuil nv,r the few cells and tried to start the colony again, but aDout tne seventn cay, rather night, tne naager came 6"t , n . . i i rr V, . ...ma i ti , t r ana imiauu w". ."o . TO V, . V.aHrav C1AT-V rt nrntRCIlDQ UI1 nrt nthor cnr the number of wasp . I, Aaatrnvn should CiVA it the right to live unmolested, for not only does it scratcn open me uuic eats up every fragment of comb and ..it. .A that thntitrh a few adult in sects' may be left the first heavy storm of rail decides meir isw. i. mti one realize how very "tnicK in tne hide" this animal is when it attacks single-handed strong colonies of wasps. numbering pernaps many muuwiue, v.. v, i. o e. not hAAti nrevlouslv soothed by smoke or anything of the sort, as Is the case witn tne numan v. o.nii c- . I... tab-ci hocitilv tn bin heels SLrujei, uv . j If only one or two insects come out and buzz arouna. The badger faces a fully active and wideawake nest and never leaves it un til there is not an atom of comb left. TEACHERS ARE GUN TARGET Low Marks Constitute Sufficient Cause- for Shooting. ODESSA, July 20- (Special.) At Lvoff, a boy of 16, In a class-room of the local college, shot and dangerously wounded the professor of mathematics. The youthful criminal's grievance was that he had received bad marks from tha professor. This Is the sixth case of the Tcind which has occurred In va rious colleges during the last few months, two of them proving fatal to the teachers. In many gymnasia the masters are afraid to give low marks, however well deserved, to a certain class of their hot-headed pupils. At Balta last week the son and daughter of a police Inspector, aged respectively 15 and 16, quarreled over some trifling matter while amusing themselves in the garden. The girl brought one of her father's revolvers from the house and shot her brother dead- I A Good Excuse. Harper's Weekly. It was on the sleeping-car. "Say, mister," said the man In the upper berth to the occupant of the lower, "quit that music, will you? What do you think this is, a concert hall? The rest of us want to sleep." "Why, the car is so stuffy," said the warbler, "I was only humming a little air" It was then that he was bit with a Pullman pillow, remaining uncon scious for seven hours. TRAVELERS' GUIDE- COOS BAY LINE (TKAJfSHIP BKEAKWAIBB Sails from Ainsworth Dock, Portland, at A. M July 2. . 14. 1. 24. 29; August 3 8, 18, 18, 23. 28. Freight received at Ainsworth Dock dally up to 6 P. M. Passenger fare first-class, 810; second, class 87, including berth and meals. Ticket office Ainsworth Dock. Phones Main 8800. A 2332. POET WINS HONOR American Woman Recognized by Japanese Emperor. FURTHER EFFORT INVITED Mrs. Charles Burnett Contributes New Year's Poem In Contest Held Each Tear on Nippon Isle by Royal Command. BY P. BECKWITH DAVIS. YOKOHAMA, July 6. (Special.) Count Watanabe, master of ceremonies of the court of their majesties, the Emperor and Empress of Japan, re cently proceeded to the home of Mrs. Charles Burnett in Acyama to bear her majesty's greeting and to present to Mrs. Burnett a translation of the New Year poem written by Mrs. Burnett and contributed by her to the Emper or's "New Year poem contest" at the beginning of the present year, and which contribution has been so highly honored by her majesty. The translation of the poem present ed to Mrs. Burnett by County Watan abe on behalf of the Empress has been most beautifuly and comprehensively accomplished by Viscount Suematsu and is a duplicate of the original trans lation which her majesty will preserve on record for herself in the imperial palace. The translation Is done in the pure literary style of ancient Japan and the workmanship is of the highest quality. Further Effort Invited. Aside from the formal outward rec ognition with which the Empress has honored Mrs. Burnett's contribution to the Imperial contest the first contri bution that has ever been made by other than a native of Japan perhaps the truest compliment to the literary value of the New Year poem, which underlies the imperial recognition, may be gathered from the intimation of the court that a further offering from Mrs. Burnett's pen would be wel comed. Count Watanabe in presenting the Empress' gift to Mrs. Burnett said that this unusual honor was accorded to her owing to the fact that it was the first time that any contribution has been made to the imperial contest by a for eign writer and said that the recogni tion had been delayed until a satis factory translation had been rendered by Viscount Suematsu, a celebrated llt erateur. The message he delivered from her majesty was to the effect that the fact of its having been a gift of the "heart and mind" was considered by the Empress as being far beyond the material offering and that her majesty expressed sincere Interest in, approval of and surprise at Mm. Bur nett's handling of her majesty's chosen subject, which she considered a re markable insight into and sympathy with Japanese sentiment. Poem 1 Hand-Printed. The story leading up to this Im perial recognition bestowed upon Mrs. Burnett which is indeed an unusual honor is short, but one in which Mrs. Burnett may rightfully feel proud. Every year his majesty, the Emperor, chooses a title for a New Year poem and his subjects are privileged to write upon the subject and send their ef forts to his court to be read in his presence, and those of special merit are awarded imperial recognition. The subject chosen for last New Year by his majesty was "The Crane on the Pine," and learning that the court would have no objection to her wrltinff on the subject, Mrs. Burnett decided to compete and sent her verses, printed by her own pen, to the court and received the gracious acceptance of his majesty. Mrs. Burnett Is the wife of Lieu tenant Burnett, U. S. A., who is at present attached to the American Em bassy at Tokio as a student of the Japanese language. She Is a daughter of the late General and Mrs. Francis H. Cameron, of Virginia, and the granddaugher of John Cameron, a gen tleman of rare literary attainments. Her great-grandfather was Sir Erven Cameron, a Highland chief and 24th Lord Lochiel of the Clan Cameron. Mrs. Burnett has recently written a group of short sketches for the Jap anese Magazine of Toklp, which are said to have struck the keynote of Japanese thought, as she does not at tempt depiction of facts or enter into analogies or discussions relative to conditions in Japan, but merely sketches in words of remarkable artis tic sympathy and appreciation of its loveliness, much as the Japanese art ists have painted their pictures. The more the people learn about the en during qualities of bitulithic pavement, the more popular it becomes. OVERBECK & COOKE CO. Brokers, Stork, Bond, Cotton, Oraln, Etc. 21-21T BOARD OP TRADE BIDC. MEMBERS CHICAGO BOARD OF TRADE. Correspondent of Logan Bryan, Chit-ago and New York. MEMBERS ew York Stock Exchange, Chicago Sfck ExrhsBue, Boston frock Exchange, ChieaKO Board of Trade, ew l ark Cotton Exchange, w Orleans Cotton Exchange, rew York Coffee Exchsnne, ?Vevr York Produce Exchange, Liverpool Cotton Ass. J.C.WILSON&CO. STOCKS. BONDS, GRAIN AND COTTON MEMBERS NEW YORK STOCK. EXCHANGE NEW YORK COTTON EJtCHANGB CHICAGO BOARD OK TRADB THE STOCK AND BOND EXCHANGH SAN FRANCISCO. PORTLAND 0TFICE: Main Floor Lnmbermens Bank Bldj. Fifth and Stark. Phones Marshall 4120, A 1187.