HE SUNDAY OREGONIAN, PORTLAND. MAY 35, 1913.
I
Imports From Australia Should
Lower Prices on Coast.
WILL NOT AFFECT EAST
If All Cattle and Sheep In Tliat
Conntrjr and Argentina Mere
Shipped Here, They Would Be
Absorbed Without Trouble.
Although meats Imported to thii
Coast from Australia will probably not
find their way nrrosa the Rockies, the
live and dressed meat trade through
out the country Is interested In the
movement.
The prices that will be asked for
this froxen meat have not yet been
definitely fixed, but the quotations of
the London market, where large sup
plies of both Australian and Argentine
meats are sold, might prove of Inter
est, especially when compared with
the range of prices In the American
markets. Such a comparison follows:
Beef. Mutton. Lamb.
United pr Hts13i 1 1th '
Aotrat1a ..7 THff li 1t&hl2s
Argentina . ?S1 T.i9 10 13
Concerning these quotations, mem
bers of the trade said It was only fair
to state that recently there haa been
an abnormal supply of Argentine beef
In the Enirllsh markets, which had
forced prices lower than the average
for a full year, and as to the Austra
lian product, that Is something with
which no comparison can be made with
domestic meat. Only a status of no
beef at all could create any demand
for it In the Kastern markets of this
country.
From the best Information obtain
able the supply of cattle and sheep In
the United States. Australia, and Argen
tina Is found to be as follows:
rm:.. Sheep. Population.
I'nftf States RT.tWMMwm S'J.SH- imm l4..0t0
utra:tm . . . . 1 1 "H.ixo &.1,00,0on ACT.I.OoO
Argentina .. .L-J.L'Ou.'"' B7.2Srt.WO 7.470.m0
These statistics show a remarkably
small per capita supply In the United
states as compared with the other
countries named. The other two coun
tries are in a much better situation In
the matter of per capita meat supply,
as here shown:
Cattle Sheep
per capita, per captts
fnlted States l 0
Australia 2 " I'
Argentina 4-l -
Collectively. Australia has 24.6 beef
cattle and sheep per capita. Argentina
13. while the I'nlted States can count
only 1.17.
If all the beef from these countries
were suddenly transported to the
I'nlted States, however, the addition to
the supply here would be less than
half a boef per capita, and If the same
thing were done with the sheep, the
per capita Increase would be less than
a sheep and a half.
As for Australia's shipments, the en
tire exports of beef and mutton from
that country In 1SU aggregated 238.
350.000 pounds, valued at il3.300.000
w holesale. None of that meat came to
the United States, hut If all of It had
been brought hero It would have meant
a supplemental supply of less than 2V
pounds per capita for the entire year
at a wholesale cost of about cents
per pound plus freight and tariff.
On the other hand. It must be remem
bered that the meat that Is coming will
be marketed only on the Pacific Coast,
and that local conditions will govern
the situation. Therefore, a consider
able reduction In meat prices should
be expected.
FAKHERS ASK DOLLAR FOB WHEAT
little That Is Left la Country 1 Held at
High lUce.
No sales In the country wheat mar
Vets were reported yesterday. Only a
few lots of club are left here and there,
and for these the growers want 1 -at
coast points. The local market con
tinues very firm: California is taking
supplies right along.
Local receipts of wheat are Increas
ing, as might be expected after the
recenv activity In the country. Ar
rivals In the past week were 260 cars
more than twice the quantity received
In the same week last year. During
the neit few weeks the movement will
continue large. A dispatch from Day
ton. YVBsh.. says:
"It la estimated here that the grain
men arc shipping at the rate of not
lees than a tralnload of wheat a day
from t.ie Touchet and Walla Walla
Valleys. The wheat is being shipped
1n nearly all cases to Portland. Usually
large quantities of grain have been
"j-tored until quite recently In the ele
vators at Turner, Dayton. Prescott and
Walla Walla.
Oats hold firm with further sales at
J32. The barley market Is going the
ther way. local feed now being quoted
at I2S.S0. Weakness in the South la
responsible for this. Private advices
Indicate that the California crop la
coming along better than expected.
The Sun Francisco spot market was
;n 1 a ton yesterday. The May op
tion was very weak, but December was
steady.
Local receipts, in cars, were reported
by the Merchants' Exchange as fol
lows: Wheat Bsrlejr Flour Oats Hay
Monday '
-r 37 10
14 S 11
T l
7 1.1
Wednesday ..IS 4 T
Thursday ... l - -
Vrldav ::l
saturdav .... ....
csr ao. ... 10 1
t. i thi. k . ; is
1 .1
T 4 14
4 ....
lO 4 12
year tio 114 2 42 11
to date! .; 272 14T 2101
Year ago HI": 37 Ml 152S !i
HOP CONTRACT MGSF.D AT 1M4 CENTS
fatall Business In New Crop hi TbU State
and California.
A small amount of hop contracting
Ties been done in Oregon and In Cali
fornia In the last few days at ItH
cents. No late spot transactions are
reported. Weather conditions continue
satisfactory from a growers stand
point. The crop situation In New York State
Is reported by the Watervllle Times
as follows:
"The late frosts and continued cold,
windy weather have put a check on
the growing hop vine, which up to a
week ago had made a rapid growth.
As far as ran be judged at this time it
la not thought that the vine has been
seriously hurt. That it will entail a
large amount of extra work for the
grower, however. Is certain, for In
many places the vine will have to be
tied over again before it gets a good
start up the pole. As it is at present
the vine Is at a standstill but this will
mean no great loss, as It was several
weeks in advance of former years.
Until warmer weather returns and the
vine again takes up its growth it can
not be determined Jtist what amount
of damage ha been done."
riltT SPRINt. BROOK BKRRIES UERF.
Fall Car of Marshall Comes From Cali
fornia Market Clcaas Vp.
The strawberry supply yesterday was
larger than for several days past, but
there was a fine demand and the re
cetrts were well absorbed.
The first crate of, berries from the
Sprlngbrook Fruit Growers' Union was
received by Bell Az Co. The berries were
Oold Dollars and were grown by W. fi.
Morton, of Sprlngbrook. The crate sold
at $6. The berry rop prospects in
E
S FROM ABROAD
that section are very good. The union
will begin shipping regularly this week.
Southern Oregon berries were more
plentiful than recently. They cleaned
up at J3.50g3.75.
A straight car of Marshall berries
was received from Nlles. CaU They were
quoted at $12.60 per chest of 20 draw
ers. The entire car was sold. Florin
Dollars moved at $1.75.
The vegetable market was moder
ately supplied and the demand was
good. A car of mixed vegetables and
a car of new potatoes are due Monday.
Manufacturers Sampling New Wools.
While considerable Interest has been cen
tered In the new wools, according to mall
advices from Boston, the basis of prices
has precluded any buying of consequence.
Manufacturers are doing some sampling In
both the fleeces and territory wools which
have arrived, but no selling in volume has
been done. A small business In the new
A Dions wools Is noted on a clean basis of
about ."0 rants. The t'tah wools on hand
were bought In that stste at prices which
make them cost more than a parity with
the market on the grade at present.
Dairy F rod are Market Is Steady.
The week closed steady In the butter
and cheese markets, with no prospects
of any early change In prices. The
demand for eggs was limited, but prices
were steady.
Dressed veal was a little firmer at
the close because cf lighter receipts.
Pork was Inclined to be weak. The
poultry market was steady and un
changed. No Improvement Im Potatoes.
There is no Improvement In the po
tato market and not likely to be any.
Local dealers discredit the report from
Tacoma of large shipments of Wash
ington potatoes to Oklahoma and Colo
rado, as the Southwest has plenty of
stock of Its own. There was some In
quiry on the local market from Arlsona,
but not at satisfactory terms. The
California demand has ceased.
Dried Fruit .Supplies Light.
There was quite a carry-over of dried
fruits In California on January 1 this year,
Holders of these dried fruits have made
some very, severe cuts in the price, resulting
In a heavy movement. Stocks, as a whole,
both In this country and Europe, are at
present lighter than they have been for
many years at a corresponding dste, and
some lines are practically cleaned up.
Wool rut In Htorace.
ONTARIO. Or.. May 24. tSpeclal.)
More than 100.000 pounds of wool have al
ready been received and stored In the ware
houses of this city. This Is of a storage of
the a.noo.ooo-pouiio cup wnicn is eipwco
this year, and which will be the heaviest
atom re recorded In this section. The wool
la coming from all points surrounding, and
from -the deep Interior.
Bank Clearings.
Bank clearings of the Northwestern cities
yesterday were as follows:
Clearings Balances.
Portland il.271.OR2 lt2T
Seattle J. 742. Wirt 83.042
Taeoma HM.IW1 S4.3.HS
Spokane ."."i.."l7 4S.i50
Cleurlnrs of Portland. Seattle, and Tacoma
for the past week and correapondlng week
In former years were:
Portland. Seattle. Tacoma.
IMS $ll.i'H7.7:n $12.2.076 $2.lt7.fi23
IHI2 PK.11.3i 11.33:i.:l7 4.l'4.!:43
Ifitt R.7-0.12T lO.Ilt l.!2 4 a.P07.3.'3
)tno 8.747.2tt;; 1o.72l.7i-5 n.413.101
IttvB 6. ll.-.2"2 12.5tU.6--:l 5.BS1.006
ItK.H 3 s:2.U24 .Vw.mn 2. . 4f
1!Mi7 S.11P...-.KS 7..-.Hrt.N..3 4.2M.H78
4.14o.7H 7.P14.SIH 2.!2r..82ll
1004 3.S32.12.'. 4.OV4.O.10 2.34.-S7
1IX.4 2..W..W77 :i.S44.SIl 1.7.i.R08
10u:t 223S.SUS 2.WJS.II2I 1. Sti7.SU
1U02 1.S9R.172 2.4S0.11T 1.057,186
PORTLAND MARKETS.
Grain, Flour. Feed. Etc.
WHEAT Traek prices: Club. 03i84e:
bluestem. tll2; 40-fold. l59c; red
Russian. I2c; valley. Wc.
FLOUR Patents. 14.70 per barrel;
straights. 14.10; exports. 13.8693.05; valley.
$4.70; a rati am. 4.eO; whole wheat, 44.SO.
OATS No. 1 white. 32 per ton; stained
and off grade, less.
CORN Wools, $2S.S0; cracked. T2S.50 per
ton.
MILLS TUFFS Bran, $24.30(523 per ton:
shorts. S26.SOS27 par ton; middlings. $31
per ton.
BARLEY Feed. 2.S0 per ton; brewing,
nominal, rolled. (2S.S06 20.SO per ton.
HAT Eastern Oreicon timothy, choice,
J18S19 per ton: alfalfa. tl3'rl4-
T"rutts aad Vegetables.
Local Jobbing quotations:
TROPICAL FRUITS Oranges. Navel.
f4.5013.30; Florida grapefruit, (5.5088-30;
lemons. California. $67.75 per box; Sicily.
(7 per box; pineapples. BO 7c per pound.
ONIONS Oregon. $1.25 per sack; Ber
muda 11.50 2 per crate.
VEGETABLES Artichokes, TSc per doxen;
asparagus. Oregon. (101.85 per dosen;
beans. 1012c per pound; cabbage. 2
3o per pound; cauliflower. (Z per crate;
eggplant. 25c pound; head lettuce, (2.50
per crate; peas. 7(7Vo per pound: peppers.
35 9 40e per pound: radishes, 10012c per
dozen: rhubarb. l2o per pound; spinach.
75c per box: tomatoes. . (2.50S per box;
garlic, T1t8e per pound.
POTATOES Burbank. 40iJ50c per bun
dred: new. 2Vii2c per pound.
GREEN FRUIT Apples, nominal: straw
berries. Orea-on. (3.6utr3.75: Florin. (1.73
per crate; cherries. l..v per box; bulk.
12 Se per pound; gooseberries. 8!7c pel
pound.
tAt'K VEGETABLES Turnips. t per
aa-k: parsnips, (1 per sack; carrots. $1 per
sack.
Dairy aad Country Produce.
Local Jobbing quotations:
POULTRY Hens. 15c: broilers. 25c:
turkeys, live, 19320c; dressed, choice. 25c;
ducks, old. Iv4(18c; young. 24S25::
geese, young. 150 17c
EGGS Oregon ranch, esse count. ISHo
19c per dosen; candled. S21o per dosea.
CHEESE Oregon triplets, lc; DaUtea,
Id1'-: Tonng Americas. 17 Sc.
BUTTER City creamery butter cubes, 2S
per pound: prints. 200290 per poind.
rOKK Fancy. 11 oil He par pound.
VEAL FaJicy. 13 w 14c per pound.
Staple Groceries.
Local Jobbing quotations:
SALMON Columbia Klver. one-pound
tails (2.25 per dosen; balf-pounl flats
(1.40: one-pound flats. (2.43: Alaska pink,
one-pound tails. 65c; sllversldes. one-pound
talis. (1.23.
HONEY Choice, (3.2593.73 per ease,
NUTS Walnuts. le per pound; Brasll
nuts. 120 lie; filberts. 14 'J 13c: almonds,
lie: peanuts. (034c: cocoanuts, Sel
ler dozen; chestnuts, lie per pound; btck
orynuts. 8 5 10c; pecan a. 17c; pine. 17 H
C2c.
BEAN'S Small white, 6Vic; large white,
6c; Lima. S.SOc; pink, 4ic; Mexican, Se;
bajreu. 4c- , ,
SUGAR Fruit and berry. (5.18; Honolulu
plantation, (5.10; beet, $4.95; extra C. ;4.S5;
powdered, barrels. (3.40; cubes, barrels.
(3. no.
COFFFB Roasted, in drama, 21M40e
per pound.
SALT Granulated. (14 per ton; balf
ground 100s. (10 per ton; 50s. (10.73 per
ton: dairy. (12.30 per ton.
RICE No- 1 Japan. 305He: cheaper
grades. 4Vjc: Southern bead, 54a0Se.
DRIED FRUITS Apples. lOc per pound,
apricots. 12914c: peaches, sailc: prunes.
Italians. BfilOc sliver, loc; figs, white and
black. 6 07c: currants. v-c: raisins, loos
Muscatel. Hg7Hc; blaached. Thompson
lilac; unbleached. Sultan aa. 8tc; seeded.
7HfSSc: dates. Persian. 7 W a Sc per pound;
fsrd. (1.85 per box.
FIGS Twelve 10-ounce, 85c; 50 8-ounce.
(1.85: 70 4-ounce. 12.50; 30 10-ounce. (2.25;
loose. 50-pound boxes, H7e; Smyrna
boxes. (1.101.25: candled. (3 per box.
Provisions.
Local jobbing quotations:
HAMS 10 to 12 pounds. ltt02Ottc: 13
to 14 pounds. lfee20Vio: picnics. UHc;
cottage roll. 18c
BACON Fancy. 29330c; standard. 244)
25c: English. 22 23c
LARD In tierces, choice, 14e; com
pound, SHO
OK V SALT MEATS Regular short clears.
!3Httl5c; short clear backs, 12 to 18 lbs..
14 13 He; short cloar backs. 18 to 25 lbs..
USl.ISc: exports. 15018c
BARRELED BEEF Extra mess beef.
(19: meas beef. (1: plate beef. (21; relied
bore!ess beef. (30.
BARRELED PORK Best pig Pork. (27;
elcklcd pork. (2
Hops, Wool aad Hides.
HOPS 1912 crop. l:'4ti He per pound;
1913 contracts. 12gl3o per pound. -
PEL Dry. 32c lambs, 20033c,
VTOOL Eastern Oregon. 10018c; Valley,
14 014e per pouad.
H1DES Salted hides, 12e per pound;
salted ca;f. 180174c; sa'.ted kip. 12914c;
green hides. 11c: dry hides. 21022c; dr
calf No. 1. 23c; No. 2. 2"c: salted bulls. 8c
MOHAIR 1913 clip. SO03SO per sound.
85c
THREE POINT GAIN
Union Pacific Stock Again Sells
Above 155.
SOUTHERN UP TWO POINTS
Jump In Harrltnans on Roport That
Sett lenient Mad Been Beached In
Dissolution Plan, Affects
Fntlre Wall-Street List.
" NEW YORK. May 24. Unofficial dec
larations that a settlement had at last
been reached in the negotiations for
segregation of the Harriman system In
compliance with the Supreme Court's
mandate stimulated the stock market
strongly today. Gossip on the exchange
was to the effect that the segregation
plan provided for cancellation of the
$126,000,000 of the Southern Paclflo
stock held by Union Pacific, In return
for which the Union Pacific would re
ceive cqntrol of the Central Pacific
with cash and bonds having an addi
tional valuo of $20,000.000.. The stock
exchange house which was the largest
buyer of Union Pacific made the state
ment that "the full plan of segrega
tion will be Issued next Tuesday."
No authoritative confirmation of
these reports was to be had. The state
ment was made by a representative of
the banking Interests which nave
acted as fiscal agents for the Harri
man roads that he knew of no settle
ment in the matter.
The response of the stock market,
however, was emphatic. Union Pa
cific, for the first time in several
weeks, rose above 156, gaining three
points. Southern Pacific advanced two
points. The upturn in these stocks im
parted strength to the market as a
whole, and gains of one to two points
were made by many of the representa
tive Issues.
There was some further selling of
stocks which have been under pressure
recently. Pennsylvania touched a new
low figure at 109V4. and Canadian Pa
cific sagged two points on renewed
selling for foreign account. Both these
stocks rallied when the list went up.
While the banks gained cash on the
week, the increase of $2,160,000 was
considerably smaller than was Indi
cated by known movements of currency.
Another small addition was made to
excess reserves.
Bonds were firm. Total sales, par
value. $1,250,000. United States 2s. cou
pon, declined one-fourth and the 3s and
Panama 3s. coupon, advanced one
eighth on call on the week.
CLOSING STOCK QUOTATIONS.
Reported by J. C. Wilson A Co.. Lewis
building, Porliana.
bOpen.;Hlgh. Low.
Bid.
4Ri
Am. Car Jt F com...j.. .. .f. . -
Am. Can, com I 24ki S4H
32 V
V2
33 T
94
33
do proterreo j -jui y.-
Am. loco., com.
Am. Sugar, com
a . ; I T
33
11H4.111 ,mii-'lV!
Am. 6melt.. com.
. ... 8 I 91a! 6
OW
iom
129 H
17
3S
09 i
W
98 Vt
eo
Am. Tel. A. Tel".'.'r:;!i281!12jl2
.-.I-
Am. woolen, com...-! i
Anaconda Mining Co., 38 8S1
Atchison, com 9i!100
do preferred ......1 1
t . ri mwr, PSH ! en
38
99
98
Beet Sugar I 30 W4! 30
L, 1. IT u.rM Tr. 112 (I'."-. I 92
Canadian Pac, com. . ,2334 237 H ,235 Vj
23o
Central Leatner, com.;
do prof erred ...... I
23 H
urorerri
G. W.,
92
C.
13 13 1S S1
rf .rrr,H ',1
C. M. ct. P l08Vi10S10SilOH
C. & N. W com-....i 1- M0)
Chino Copper f 41i, 41Vj 41H il
ChcaapeaKe A Ohio.. 64 63 64, b3V
Colo. Fuel A Iron, c. r.l
Coin Knuth.. com i 2S 28 2
28
Consolidated Gas ,13314 133
Corn Products, com..! I
do preferred I ).-....
Delaware A Hudson.. 153 ,155
Denver A Rio G- c.. !
13341133
j 10
I 65
153 133
J9
do preferred t i 1 .
32
Erie, common ! 2 HI 2 '-'. sJs
do 2d preferred 33 Hi 33 Hi 35 H 34
do lat preferred...! 43HI 43H! 43HI 43V
General Electric 13U .140 H 3 ,13n
Gt. North, ore lands.. 33 34HI 33 34
Gt. North., pfd 127 H12;,121 H,-'
Ice Securities I i 24 H
Illinois Central ..' 113 lt6Hi(115 !H4
Interurban Mot., c... 14'il 14HI HH 14i
do preterred I niiH: 51 Hi Jt'V
Lehlgn Valley il.tiH)l5 ,isH
Kansas City South.
23 H
Louisville A Nashville;
134 41135 134 134H
M., K. & T.. com
do preferred
Mleaouri Pacific
Nationiil lad
Nevada Conitolldated.
Nw York Central . .
N. V.. Out. A West..
Nor. A Western, c . .
North American .
Northern Pacific, com
Pact lie Mall S. S. Co.
1 'H
t "H
34l 33i 34! 35?,
I "
17 16 I 16
18
;ixH
100'100'lOOli
29 .
1 1W
i 70
113
116
115 113
2:
Pennsylvania Railway
boiiiio!io9't!iio
P. G.. L- Coko Co..
i
24 24; 24H! 24
pressed tleei car, c..
do preferred
Ray Consolidated Copi
3R
1j 18' 10
Reading, com
do 2d pref
do let pref
Rap. Iron A Steel, c.
do preferred
Rock Island, c
do preferred ......
El L. 4 fi. F.. 2d pf.
do 1st pref
Southern Pacific, com
Southern Railway, c.
do preferred
Texas sV. Pacific
itti;l63
lOl ;ili
SB
l?7
23 J 23
82H 83
23 I 23
2 82
18' 1
13, 1
31 32 SI I 32
11 12l 11 11
Sl 32 31 32
97 P! I7! PB
24 23 24l 2
16 1 : 16 1
Union Pad tic. com.
do preferred
V. S. Rubber, com.
1.M. InMa'IMK 154
I 84i S3 , S4. S4
'4 V t I o- "1 ! o '
104'lO3 I104H1O4H
do preferretl
V. S. Steel Co., com.
do preferred
Utah Copper
Virginia Chemical ..
Wabash, com
do preferred
Western Union Tel. .
Westlnghouse Elec .
Wtsconaln Central, e.
106 4106
50 31
26 26
2
7 7
83 86
62 62
81
30 i 51
27 2S
"7 "7
5 88
62 62
Total ssles for the day, 225.800 shares.
BONDS.
Reported be Overbeck A Cooke Co., Board
or Trade building, roriif im.
Atchison eenera! 4s
Atlantic Coast Line first 4s.
Baltimore A Ohio gold 4s...
B R T 4s
Chesapeake A Ohio 4
C M A St P gen 4s
C R 1 col 4s
Cal Gas 5s
C B Q joint 4s
Erie general 4s
1 I M 4 Ul.
Bid. Asked.
. 94 94
, 90 PI
. 92 02
90 90
, PH 9
, !9 P
38 5S
.... 94
94 94
. 72 73
75 7
93 04
A KB
. M 83
92 94
, 93 94
so so
91 92
98
, 90 99
, 94 94
SB 90
103 103
75 78
, 6S 60
91 91
1M 100
93 94
56 37
00
89
81 2
100 100
100
1.2 103
102 103
113 1141$
114 ....
Louisville A Nsshvlle unl 4s.... 93
Missouri pacilic
NYC sen 3
N A W first con 4s
Northern Pacific 4s
Oregon Short Line ref 4s
Oregon Ry Nav 4s
Pacific Tel Ss
Penna con 4s
Reading general 4s -
Southern pacific ref 4s
Southern pacific col 4s
Southern Railway 6s
Southern Railway 4s
I'nlted Railway Inv 4s
I'nion Pacific first and ref 4s..
I'nlted States Steel 3s
West Shore 4s
Wabash 4s
Westlnghouse Elec conv 5s
Wisconsin Central 4s
Western Pacific 5s
I'nlted States 2s registered
i nlted States 2s coupon
United Slates 3s registered
I'nlted States 3s coupon
E Wte Cop M. 11 Superior 28i
Franklin ....... 5Sup & Boa Mlu.. 2
Glroux Coo .... 1 Tamarack -5
olinby Con... 63,U B 8 R A M... 39
Greene Cananea- oi do preferred... 48
I Royallo (Cop) 23 irtah Con ...... 7
Kerr Lake 8'Ctah Copper Co. 81
Lake copper.... 12 I Winona. 1
La Salle Copper 4 -Wolverine 31
Miami Copper. . : 23 1
NEW CAPITAL BEQCTREMENTS.
Corporations Find It Difficult to Interest
Investors.
NEW YORK. May 24. While the stock
market Itself has been almost Idle from
day to day, with price fluctuations nsrrow
and shifting, the financial wqrld has been
preoccupied with the problem of supplying
requirements for new capital.
Neither the New York City bond salo
nor the Chinese loan Issue abroad proved
sufficiently conclusive to resolve the doubt
as to the definitive basis on which the In
vestment demand for capital Is to adjust
itself. The good features claimed for both
issues did not alter the palpable fact that
they failed to awaken speculative enthu
siasm or stimulate Investment demand.
The statement of the New York City Con
troller that the state of public credit all
over the country proves that cities and
states are spending more money than the
available credit Justifies Is considered sig
nificant. The Chinese loan, a per cent
bond offered at 90 and understood to yield
but 84 to China, offers small incentive to
competition by less prodigal borrowers.
The stringency In the capital market
proves trying to corporation borrowers with
msturtng obligations. Severe declines in
spots in the securities market find an ex
planation In the difficulties in meeting this
situation.
The pecular sensitiveness In the market
to the I'nion Pacific dissolution Is due to
the necessity of finding resources st such a
time to take over the holdings of Southern
Pacific.
Confidence In the wheat crop prospect Is
held high by the rspld marketing of old
wheat. Primary receipts as well as 'exports
hold at an enormous figure. Liquidation of
domestic-bank loans Is expected to go hand
In hsnd with this movement. New orders
for steel products still halt, but copper ex
ports are well sustained. Contracted hank
ing clearances point to diminished commer
cial activity and the fresh accession to the
Idle freight car surplus gains added orce in
view of the heavy grain movement.
Money, Exchange, Etc, , ,
NEW YORK. May 24 Money on call
nominal. No loans. Time losns steady. Sixty
days, 84 per cent; 90 days, 3 6 4; six
months. 44.
Commercial bills. (4.82.
Prime mercsntlle paper. 5 per rent
Sterling exchange steady, with actual
business in hankers bills at (4. S3 for 60
day bills and at (4.8640 for demand.
Sliver bars. nc.
Mexican dollars, 4Sc.
Government bonds steady; railroad bonds
firm.
LONDON, May 24. Bar silver steady.
27 13-16d per ounee.
Money. 23 per cent.
Rate of discount In the open market for
short bills, .1 per cent; three months'
bills, 3 9-163 per cent.
SAN FRANCISCO, May 24. Silver bars,
60 c.
Mexican dollars, nominal.
Drafts Sight, par; telegraph. 2c.
Sterling In London, GO days, (4.83; sight,
(486.
Condition of the Treasury.
WASHINGTON. May 24. The condition of
the United States Treasury at the begin
ning of business today was: ,
Working balance ( 60,273,134
In banks and Philippine treasury 46.433.H78
Total of general fund 132.2nl,67I
Receipts yesterday 2.279,632
Disbursements 1,0S7,I36
The surplus this fiscal year is (4.467.S9U.
as against a deficit of (12.260.878 last year.
The figurea for receipts, disbursements,
etc, exclude Panama Canal and publie
debt transactions.
Coffee and Sugar. '
NEW YORK. May 24. Coffee futures
opened steady at unchanged prices to a de
cjtne of seven points in response to rather
disappointing cables. Offerings were very
light, however, and the market steadied up
during the morning. A sale of June in the
absence of prompt buyers, sent that po
sition off to a loss of nine points at the clvse.
but the final tone was steady. Sales, fl.
750. May, J0.95c: June, 10.8!c; July, 11.01c;
September. 11.20c; October, 11.21c; Decem
ber. 11.23c; January. 11.24c: March, 11.28c.
Spot, quiet. Rio. No. 7, llo; Santos. No.
. 13c Mild, quiet. Cordova. 14'4l7c,
nominal. '
Raw sugar, steady. Muscovado, 2.73 ji2.S0c;
centrifugal, 3.253r 3.30c; molasses, 2. SOW
2.53c. Refined, stesdy.
hog Selee
MQVIDATIOX IS LIBERAL AM)
VALfES ARE DECLINING.
Cattle Firm With Active Demand.
Brisk Trade in Medium
Sheep and Lambs. .
Trade was limited at the stockyards at
the close, only two loads of sheep and one
of hogs choiiring hands. The former were
yearlings and brought 4.73 and (5. The
best light boss sold at (S.30.
Receipts were or. cattle. 2 calves, 322 h"KS
nnd 1ST sheep. Shippers were C. E. Lucke.
Canbr, 4 cars of cattle, sheep and hogs; C.
Skully. Gait. Cal., 2 cars of cattle and
calves: Stewart Plerson, Cold Springs, 1
csr of hogs, and C. C. Longliurst A H-m,
Lef'.ie, Idaho, 1 car of sheep and hogs.
The days sales were as follows:
Weight. Pri e.
14 hogs 13j i?.1.0.
1 hog -'..g ,...)
4 hog J. .10
19 hog ?4 830
3 hog ; '
I hog 24") 5-30
2S ho?. 12 J.30
2ti! yearling shee? s2 .on
300 yearling shecii 81 4. 10
The official weekly market report follows:
"Receipts for the week hsve been: Cattle.
1463; calves, 173; hogs, 3034; sheep, 7361;
horses. 24.
"Cattle market stesdy to firm during the
entire week. Prime grain-fed steers sold at
9 rents, many cars being disposed of at this
price. Bulk of steer sales, (8.50 to (S.75.
Butcher stock active and first offering of
heifers In weeks brings (8 bids from the
buyers. eA poor layout In cows. Market is
steady tc strong on all classes. '
"Swine trade is uneven. Oeneral top Is
steady at (8.2S. with an occasional load
selling at (8.30 to S3.35. Liquidation con
tinues liberal and sellers have a slight op
portunity to raise market leveL
"Sheep house did a brisk business In
medium grade lainbs and mutton. Strictly
prime stock was a scarce article. Spring
lamb top around (7.25; prime wethers, (rt.
snd ewes. (". Sheep demand Is somewhat
slow and poor thin stuff is finding narrow
outlet."
The following sales are representative of
the week's trading:
Weight. Price.
14 steer '"'! 2?S
177 steers : 1107 8.75
96 steers 1"3 8 50
3 steers 117 S.O0
41 heifers 7S4 8.00
1 cow 117 7.73
20 cows 1320 7.j0
U cows 1083 7.00
II cows 105 7.00
2 rslves 150 O.on
S stags 103H 7.50
8 bulls 14S0 .6o
bulls 1445 6t;0
414 hogs 17" &-
471 hogs 1 20S 8.30
127S hogs 1"a 8.-3
43 hogs 39.1 7.23
161 lambs
21)7 lambs -W
870 ewes 40 5.00
The range of prices at the yards was as
Cho1ce":steers (S.30g(.00
Good steers 7.75 S.S5
Medium steers Hi
Choice cow t.00 J.Jo
Good cows S 60 7.00
Medium cows 00 J.60
Choice calves J.ooji (.00
Good heavy calves J ?? i t!
Bulls 6.25W 6.59
Light'?!..... 8.25 8.30
Jcavy 305 7.30
Sheep
Wethers ' 5.00 6.00
Ewes , 4.00 m 5.25
Lambs 5.50 7.23
Omaha Livestock Market.
SOUTH UMAHA, , . , . .
retpts, l-tMj. marsai sicu,. i - '
(7 00UB.50; cows and heifers. (0.00 Q) 7.6- .
. . . rwiia 7 7r. : Tpmi steers.
r.10 1 II 1 m, II ----- --- -
(BOO 7.23: cows and heifers, (5.307.3d.
calves. (7.00 10.00. , .
Hogs Receipts f.500. market higher.
Heaw. (8.30f9 8.40: light. (8.450' 8.S0; pigs.
(7.006 (.00: bulk of sales. 8.3oHf 8.45.
sneep Receipts iw, mn
Yearlings. (.757.25; wethers, (6.2j6.J.
lamDs, ii.evtro.w-
Chicago livestock Market.
. . . - . . -..... 1 . Palll. W I-t . . 400.
market steady. Beeves. (7.10&8.S3; Texas
8.10; stockers and feeders, (5.8t)8.00; cows
and heifers. 3.w)(ff
HOgB Receipts li,iw, iui ni ... -
802: heaw. (8.058.57; rough. (8.0oi
8.20; pigs, I6.6O0S.3O; bulk of sales, (8.53!
-0. . . ..,..
Sheep Receipts n1"" ..T.S'
Native. 5.256.O0: western, ujogw;
yearlings. (6.00 6.80: lambs, naUve, (5.75
i.av; western, a,wi.wii
WHEAT Oil UP GRADE
Advances of Cent or More in
All Options.
KANSAS NEWS IS CAUSE
Large Area Reported to Be in Criti
cal Condition Heavy Falling
Off In American Visible Sup
ply Is Predicted.
CHICAGO, May 24. Increasingly un
favorable prospects in Southern and
Western Kansas carried the wheat
market today upgrade. . Closing prices
were' Arm at an advance of 1 to l3
lc over last night. Corn finished un
changed to c higher, oats .anms
from a shade off to Vie gain, and pro
visions strung out from 15 cents de
cline to an upturn of 5 cents.
Dry wealher and a forecast of more
started wheat shorts to buying. Bulls
were especially impressed by state
ments that 3,000,000 acres in South
west Kansas were in a critical condi
tion, with each day enlarging the dam-
- .. vnolrlno- h daiHTPr WOTSC.
Signs of a substantial falling off In
the United (States visioie suppiy
ji. uA side. In wheat.
and so, too, did word that exporters
had disposed of a mite new v. i....
The market at no time had any im
portant reaction.
Export clearances of wheat and flour
equaled 934,000 bushels. Primary re
ceipts of wheat were 489.000 bushels;
a year ago 303.000 bushels.
in the corn pit selling by cash
houses and news of heavier country
offerings offse,t the bullish action of
wheat. Weather conditions favored
planting.
Profit-taking by longs weakened
oats. .
Provisions trade was only local. The
one noticeable feature was an erratic
dip of 15 cents in May pork.
Leading futures ranged as follows:
WHEAT.
nn.n Hteh.
Low.
(0.90H
.00
.91?.
rinse.
(0.92
.014
.112 1
May
. ..(O.HO'.j (0.0-
Julv
Sept. ...
Dec ....
I
Msy .....
July .....
Sept. ....
Dec
Mav
.00
.01
.00 -a
.112 !-j
.Ol'Ts
CORN'.
.57
.38
..".7
.38',
.36
4111:
.37',
3i
19.S0
19.82 Vi
19.30
,67 .57 1i
57
..-.7T,
.36
.56
.36
OATS.
. .41 -41'i
I .3Mi -3SV3
. .37 .3
. .3SVj .SSH
PORK.
2O.0O
.1!2 10.0O
.10.30 19.55
.40i;
.37
.37 H
. .38 Vs
lfl.sn
Ift.so
U.10
3 1.0O
11.07 U
July
Si-pt
Dec
Mav
July ....
Sept. . . .
LARD.
11.10
11.02'.i
11.12Vs
RIBS. .
Mav 11 10
Julv lt.oo
11.10
11.02 hi
11.10
Sept 11.10
.12.00
12.00
12.00
1 1.30
11.12'j
12.00
11.324
11.12 '.4
July U.S2TB 2l.iv
-l-.WOc: Xe. 2 white. .1,
s,e: No. 2 yellow. 5SJH & c ; . o. J .
0t5?c: No. 4. ji-(n-4; 1
SS'iS'iOc; No. 4 yellow, o . & 1
Kye No. 2. 6:ti63i-c.
Barley 50 (g 6c. ,
Timothy seed (2.So (g. 3.o.
Clover Kominal.
.Minneapolis Grain Market.
MINNEAPOLIS. May 24. Close Wheat
Mav 90?- July. ivc; ept?mber. Olc.
Cash No 1 hard wheat. 94 c; No. 1
..!:?in n.ii4lp:(He; No. 2 Northern,
r?Hc:V5;rd Montana. 93V.c;
No. 3 wheat, SSs 'a 89c.
Barley Unchanged.
Flax (1.30 !.
Kuropean Grain Markets.
LONDON. Way 24. Cargoes on passage
nuiet: buyers reserved. K
English country markets, quiet; rench
country markets, quiet.
LIVERPOOL, May 24. WH'S.' Spot,
steady. Futures ea;y. May. 7. 6d. July.
7e, 3 'id; October, is. 3 Via.
Grains In ISan Francisco.
. ..-1.1 ...... At cnni nnnta-
c V K Yi A -N 1 1 r --' -'1 .liny -t - - r -1 -
lloMta walla. l.5 L6T -4 ; red Rus-
-'(KXl OT teed in.tt
KIR T5 bran (2i: 27.50: .ddlln
(31K (S -I-.UO. '"'" 'Tlv Vrm. December.
(l'centaTl'MayrVatU Percental hid.
(1.4u askea.
Ftiftet ISound Wheat .Market.
sriTTIJ!. May 24. Bluestetn. 09c;
fort y fold. Wc; club. S9c; fife. 8Wc; red Rus
rian, BSc
TACOMA May 24. Wlleat Blueatem.
M?- fort fold. P4c; club. u; red file 02c
Car receipts-Wheat, 1U; barley, three;
corn, one; oats, four; hay, seven.
nX FRANCISCO FRODCCB MARKET
Prices Quoted at the Bay City for Veet
1.1 1 i. - s-.
UICB, I.IIIII '
nj fnllnw.
AN FRANCistUi May -t.
1.. produce prices were current here tooay.
lnf.rP'i?Apple.. 75ct.50; Mexican .Ime
$55.50; California lemons, choice. (0.0W.
common (46 4.50; pineapples.
River white. 90c; now. llc; sweets. (3
fec"'e9eNew. 14S14; Young Americas.
16Fecs Store. 1c; fancy ranch, 22c.
i'?v vvheat. 22.-.: wheat and oats,
(o?30M22; altalfa, 1214; barley. t!8-B2l.
Butter Fancy creameo". 2Sc; seconds.
2TVetables Cucumbers, (1.252-50; green
peas. (1.25(91.75; string beans. 4 '6c: egs
Ponn,ion5Nevkda. 73cl per cental; new.
ul"" rT. ..1. n.iiniiiiln seed, vol-
red. 5tj-ie per t-v. ""'"-.,, - , -
low OOt'siH per crate; wnlte. (l.SOWl.75.
jo. V..T n-ir..,r 7ist Quarters; barley.
wfo ceStals; potatoes. 49S0 sacks; hay. 236
tons.
Cotton Market.
vnnK Mav 24. Cotton closed off
VMw'ii.lW.. and (avorablo
weather forecasts, but steady at a net ad
vance of one to five points. May, 11.66c
June 1166c; July. H-72c: August. U.o3c;
June. ' ,K. , -.Ac: Novem-
S'TSi December, 1121c; January.
Middling uplands, 12.16c;
do. gulf. 12.33c. No sales.
NEW ORLEANS. May 24. Spot, quiet, un
changed Middling. 12 7-16C. Sales. 430
bales. "
Naval Stores.
-SA.VAVN4.H. Ga.. May 24. Turpentine.
.. PA-V.fv: , ' -Hit- le. 393: receipts. lloO;
shipments. 6; stocks. 2..60S.
Ji firm; sales, none; receipts, -.
shments' 212: stocks, 7063. Quote: B. (4.35;
shipment, Q; Q (4.7o; H.
?4 80" I (4.90 K. (3.20: M, 45.20; M. (u.6u;
N (635; WG. V70: WW. (6.85.
Metal Markets.
NEW YORK Mav 24. The metal markets
wi-".e dull and' nominally unchanged. Luke
copper Klc; electrolytic. 15.87 10c; cast
ing. 15-02 tec Iron unchanged. (
Dried Fruit at Sew York.
NEW YORK, May 24. Evaporated apples
quiet.
Prunes linn.
Peaches quiet.
Duluth Unseed Market.
Dl'l.DTH Mav z-t. ci'Jse j-.iuacc.
n m . May. l-30 nominal; July, (1.31 Vs.
ll.pTemberrVl.33 '4: October. (1.31 VI asked.
Chicago Dairy Produce.
CHICAOO. May 24. Butter easy. Cream
ery. 244J2.C.
Eggs uncnangeq.
Hops at "ew York.
"EW YORK. May 24. Hops quiet.
One factory in tin in upb iw,wv,'-' wi
of poplar anrl oak lumbr Annually, produc-
IU .uti-i 4tsii's hitnira A YPRT.
Ill H ow,uvv,vw "
Factory
What is the background of your life. Mr. Man?
Is it black chimneys belching smoke? Is it gray warehouses and
grim city walls that shut your life ill and jour hope out?
And what is your horizon, Mr. Man? If the factory is always
behind you. what "is before? What are you aiming at ? What are ynn
struggling for? And how much hope have you of getting: itf
Oh, you poor stragglers with your never-ending prubleuis and wor
ries and small vexations, with your never-ending efforts just to get
ahead! Can't you see that the first great question of happiness is
just a question of food? Can't you see that the second question is a
question of freedom, and can't you see that you will never be able to
answer either of these problems until you pet. down to the source of
food supply, and the source of freedom itself, whieh is the land?
Today everybody who wants to cau owu a little land. There are so
many opportunities, the terms are so easy, the offers are so plentiful.
Even the farmers who own plenty of land are always striving to
get more land and always watching for an opportunity to get better
land. They are always buying and trading wherever they can. Why
don't you 'do the same?
In the want ads of The Oregonian, under" the heading of Farm
Lands, you eau find your opportunity every day of the week.
Try 'it today. Answer some of these farm land ads.
And mention The Oregonian, please, in every answer you send.
RESERVE STILL GROWS
banks' scrtrixs inxkeased
XEVRLY TWO MILLIONS.
Weekly Staement of Xew York In
stitutions Shows N"o Important
ChangesSmall Loan Expansion.
NEW YORK, May 24. The statement
of the actual condition of clearing
house banks aim trust companies for
the week shows that they hold (27,
298,400 reserve In excess of legal re
quirements. This Is an Increase of
(1,719.000 from, last week. The state
ment follows:
Increase.
Loans 1,21.637.000 3.47.oil
Specie 34O.30SI.0OO l,31.uou
Legal tenders S4.S34.0o0 SIM"!
Net deposits 1,771.324.000 4,D!IS.t'"0
Circulation 16,842.000 ln.ooo
Banks cash reserve In vault J356.689,.
000. Trust companies cash reserve In
vault $68,814,000. Aggregate cash
reserve, $425,403,000. Kxcess lawful
reserve, $27,288,400; increase, $1,719.
0D0. Trust companies reserve with
clearing-house members carrying "5
per cent cash reserve. $53,491,000.
Summary of state banks and trust
companies in Greater New York, not
Included in clearlns-house statement:
Decreuse.
Loans firtn.2ft3.300 2. ;."
Specie
Legal tenders ...
Total deposits , . -
tS.41S.l") 43. Hill
N.1 30.200 IS.0OC
043,0SS.4OO 1,407,300
Increase.
The Financier says today:
The statement of the clearing-house
banks of the City of New York for the
week ending May 24 was rather color
less in its showings. The sale of $45,
000.000 city bonds and the continued
gold exports were regarded as certain
to affect the condition of banks, but
the only changes of note were an In
crease of $3,647,000 in loans, and in
creases of $2,140,000 in cash and an
expansion of about $5,000,000 in do
posits. The result of the operations
named was to increase excess reserve
by $1,719,000. bringing the surplus
above the. required 25 per cent minimum
to $27,28.400.
FILM STATISTICS ' LARGE
Germany Imports 37,000,000 Yards
and Exports 22,000,000 Yards.
LONDON, May 1". (Special.) Some
Imposing statistics of the cinemato
graph industry are supplied by the
German official returns recently pub
lished nermanv is not the chief pro
ducer of cinematograph films.' because
more are imported into than are ex
ported from Germany. During the last
financial year 37,000.000 yards of film
were imported, wnne oniy
yards were exported.
The chief exporter of films to Ger
many is England, followed at a con
siderable distance by France. Italy and
ra..i, Th r,l figure for Ensrland
iui 1 111 1 1 - - - - - - -
Is considerably less, because most of
the American rums pass inrousu i-.i-
anj a rn counted as English. Of the
German export 6.600,000 yards went to
. - n y't AAA . Itnlv
Fiance, ana nearty o,j.
rr-1 I t- o amount of WOl'k en
tailed upon the German censorship of
films Is almost increuioic. alwiuuis
. reiioi r,rnrnR riiirinaT June alone
154.000 yards of film (874 miles) were
examined by tne censor, onu, ...
173,000 yards (98 miles). It is diffi
cult to estimate the average cost of
manufacturing a. film, says the report,
because the managers grossly exagge
rate the fees paid to the artists acting
for the purpose of advertisement. How.
ever it is a matter of common knowl
edge that M. Max Linder, "the film
king." proclaims that he has received
$-00,000 in three years as "cinemato
graph stage manager" for a famous
French firm. The same house produces
60 miles of film every week, at a cost
e t n nnn which oroduce $1600 of rev
enue" weekly, or $80,000 a ycr.
BLUE AND GRAY TO SPEAK
Soldiers of Federal and Rebel Ar
mies Chosen Orators.
VANCOUVER. Wash.. May 24. (Spe
cial.) Colonel J. A. Munday. who com
manded a rehel regiment in me lhu
ur- 1 it,,, Axteii who had charge
. .v! of a division for the Fed
erals, and who have been friends here
for many years, have Men appomiea oy
the Grand Army Post here to address
. t- ,i,i htiiiron on the sublect of
lilt: . 1 1 1 . .... . . . - -
Decoration day. They will visit prac
tically all of the schools of the city and
speak on "Patriotism."
As both are so well Known tiere ami
were on opposite sides during the Civil
War, particular significance is attached
thoii- annnlntments to teach the
younger generation "Patriotism."
In his address Thursday. Colonel
Munday. a native of Kentucky, made
known the feelings or tne &outa nerore
the war, and later, and ended by paying
or Farm?
a plowing tribute to the valor and
patriotism of the federal soldiers dur
ing the struRgle.
Ksoiiped the IlabH.
(Boston Transcript)
Mrs. O'Brien Sure, a dhrop now an
thin Is a comfort; but aren't ye afraid.
Mrs. Hinnessy. ye'll set the habit?
Mrs. Hennessy Nlver a bit! Mo ould
man's been dhrinkln" ut sttddy these
for-rty years past, an' he's nlver got
the hablL
Bitulithic streets
add to Portland's
beauty and help the
taxpayer keep the
cost of street repairs
to the minimum.
OVERBECK &
COOKE CO.
Brokers. Stocks. Honda. Cotton.
Cirala. !tc,
:16-S17 BOARD OP TRADE BLDO.
MulMBERS CHICAGO BOARD OK
THADIC.
Correspondents of Lons Bryan.
C'litt-aso and New Vork.
MEMBERS
JYew Yrk Stock Exchance.
CufeSKO Stock Exchangs.
Boston stock Excbaaae,
ChlcsKo Board of Trade,
Neir lark Cotton Exchanae,
.ew Orleans t'otton Excliancsa
J eiT Vork Coffee Exchange.
kn York Produce Exekauae.
l,lvernoul Cotton Aaa'n-
HIGHEST PRICES
FOR EGGS
The cold storage people aro maklnc
millions bv holding ckus until the farm
supply fallb off. then boosting prices
sky high. Preserve your tsps with
SIBIL. EGG COMPOUND, a natural pre
servative, which keeps crrs fresh for
years. One gallon will preserve four
hundred dozen.
5.00 per fiallon. l.r0 per Quart.
Write for booklet giving full direc
tions and results of tests.
tinaranteed I'nder rure
lood and Drug- Act.
Sibil Egg Compound Company
J67 W. Washington St.. Chicago
J.C.WILSON&CO.
STOCB.S. BONDS. C, KA IN AND COTTO
MEMBERS
KKW YORK STOCK EXCHANGE,
KBW YORK COTTON EXtliA.M.fc
C1UCAUO BOAiU OF TkADK,
XUS klOCK AXD BOMU KXCilAJiOSV
81 BAN CISCO.
PORTLAND OFFICE:
Lewis Building, 269 Oak Street
Phones MarehaU 4120. A 4187
THE MOST liFFKCinE.
QUASSIA CHIP3
AT LOW PRICK.
Directly imported 200 tons of Quassia
Logs from Japan and chipped In our fac
tory. We slso handle ths best BUN'GO Sul
phur and Whale Oil Soap.
FRANK MITOMA CO.,
Hop (.rowers' Supplies.
Phone Main 7:ill. Independence. Or.
TRAVELERS' GUIDE.
COOS BAY
and EUREKA
Steamer Alliance Snllx
Wednesday Mir " I-
MIRTH PACIFIC STKtMMlir CO,
I23-A Third St., .enr WnshlnKtnn.
COOS BAY LINE
HTKAMS1IIP "BKEAK WATER"
sails from Alnsworth Dock. Portland, at
A M , May 10. 15, 20, H5, :t0. thereafter
every five days, 8 A. M. Freight recolved
dally until 6 P. M. except day previous to
i .J.... , O ( P...An,P
sailing, prevjuui uj - .... . -
fares: virst-class, $10: second-class, $7. ln-
. . . . - .i i irt.L.i Afflii. . r
Cluoins oertii aim iiii . . -
Ainswortn uoci.
PORTLAND 4k COOS BAY & B. LIKE. U
u K F1ATLNO. Asent. Phone Main .
A i3iU.