The Sunday Oregonian., November 22, 1914, SECTION TWO, Page 15, Image 33

tttt: srvpAT onrnovTAy. pnuTT.AjfD. November 32. 1014.
K
BRAIN SALES BEIY
Half Million Dollars' Worth Sold
on Merchants' Exchange.
BEST WEEK OF SEASON
All Classes of Cereals Are In
Demand Wheat Advance Is
Stayed by Kxcesstve Rise
in Freight Market.
Half m million dollars' worth of grain
was sold at the Merchants' Exchange dur
ing the past week. The posted sales alone
represented a valuation of nearly (300,000.
An active demand continued up to the
close of the week and all lines, figured in
the transactions. One hundred thousand
bushels of wheat changed hands In the
public sales, also 3500 tons of oats, 100
tons af barley and 100 tons of millfeed.'
i ne demand throughout the week was
mainly for deferred deliveries, grain being
bought for as late as May handling. The
lack of buying for prompt shipment Is due
to the crowded condition of the local docks,
but relief on this score is promised soon.
and within the next two weeks buying for
Immediate delivery wl'.l be resumed.
At yesterday's session of the Exchange
nine trades, amounting to 4H.00O bushels
of wheat, were posted, all for later de
livery. The sales were as follows:
Bono bushels December bluestem $1.18
ftOOO bushels January bluestem 1.20
M0) bushels January fortyfold 1.10
f00O bushels January fortvTold 1.10
r.imil bushels Februarv fortyfold 1.1M
5000 bushels December club ... 1.15'
S000 bushels Februarv club 1.164
B'lOc) bushels February club 1.10
6000 bushels last half December Rus
sian 1.10
In addition to the above business 10.000
tmshels of bluestem and 0000 bushels of
club were sold on the curb.
Prices were about the same as at Friday's
session, but there was a firmer undertone to
the market. Wheat today would be worth
fully 4 cents a bushel more than the pre
vailing prices but for the extreme advance
In the freight market. Steamers are now
asking 50s. a rise of about 158 over the
recent rate.
Local receipts, .In cars, were reported by
the Merchants' Exchange as follows:
Wheat. Bar. nr. Oats. Hav.
. .. 211 13 16 28 12
... 111 12 11
Monday
Tuesday
Wednesday
Thursday
Friday
Pa-turd ay
Year ago
Total this week.
Tear ago
Peason to date. .
Tear ago
... no io 14 is
. . . 100 7 8 14
... nr. io 8 l
...2 n 12
. .. 2 1 8 H
. . . 6r4 53 70 75
. . . 511 67 53 44
9
7
7
2
5
43
. . .0342
S77 1174 1151
801
. .8513 1378 1078 942 1200
PRICE OF SCGAR IS JTOT STABLE.
Even If on Free Lint, Commodity Slight Not
Be Cheap.
Oreat Britain and the United States are
the two greatest sugar consuming nations
of the world, and they are the only great
nations that do not produce all their sugar
at home. In 1913, according to a circular
Issued by Willett Gray, of New York.
Great Britain Imported 1,758.400 tons of beet
pugar from the continent of Europe and
034.072 tons from the tropics, while the
United Ftates Imported 2.249.808 tons of
cane sugar from the tropica, a totwl im
portation of these countries of 4,641,928 tons.
or one-fourth of the world's entire sugar
output. Anything which seriously inter
feres with the supply of these two nations
necessarily upsets the normal price of
sugar. The circular ados:
"Being shut off from her principat supply
of sugar because of the war In Europe.
Great Britain has "been compelled to come
to Cuba, our main source of foreign supply,
and as the result of the bidding of the
two countries for the same supply the price
of raw sugar in Cuba has been forced up
nearly 10O per cent, since the outbreak
of hostilities in Europe, thus affecting every
consumer In the United States.
it insteao. or aepenaing on foreign
countries for. one half of the sugar we
consume, we were producing It all at home,
the price of sugar would be more normal.
as Is the price of other food commodities
which we produce enoughTT feed our own
people Instead of depending on . foreign
sources of supply. On the other hand, if
sugar goes on the free list In May. 1818,
as provided In the Underwood Tariff bill
and the domestic beet and cane sugar In
dustries be destroyed and our Insular crop
be greatly reduced, as everyone familiar
with these Industries predicts, any slight
disturbance In foreign sugar producing coun
tries will send the price of sugar much
higher than has the war in Europe.
"8hould the present war continue one or
two years, as some predict it will, the
extra amount whloh the people of the United
States will expend for their sugar, because
we do not produce all our sugar at home,
would pay for the erection and equipment
of all the beet sugar factories necessary to
free us from foreign sugar conditions and
Insure u a constant supply of domestic
sugar at & reasonable price per pound. In
addition to this under normal conditions It
would turn more than $100,000,000 a year
into the pockets of American farmers in
stead of sending it to foreign sugar pro
ducers, as we do now."
DRESSED TUKKKY9 IN AMPI.H SCPPr.Y
Shipping Orders Will Be Filled Today and
Local Buying Opens Monday.
Turkey receipts were fairly large on the
street yesterday. There was not much local
buying and prices were about steady at 20
21 cents for top birds.
Arrivals today and tomorrow from valley
and other nearby points promise to be
heavy. The bulk of today's receipts will
be used for outside shipment. Local retail
ors will not enter the market in force before
Monday.
There Is much speculation as to the course
of prices, but the general opinion Is that
the market will open at 20 cents and not go
hlKher. The Oregon and Idaho supplies are
known to be large and there are also Cali
fornia and Eastern turkeys on the market.
The latter, It is said, cannot be sold at a
profit at prevailing local prices, but never
theless, they will have to meet the compe
tition of Oregon birds.
Small shipments of dressed geese and
dressed ducks were received, the former sell
ing at IS cents and the latter at 1818
cents.
Business In live poultry was llgn't and at
unchanged prices. Country dressed meats
were firm and unchanged.
Former prices were quoted In the egg,
butter and cheese markets.
SEAVEY BUYS OVER 1008 BATES
Hon Business of Good Volume Passing In
I aw1 Market.
Over 1000 baiee of bops were bought In
this state yesterday by the Seavey Hop
Company. The largest lot was that of
Davidson & Hedges, of Independence. 502
bales, for which 10 cents was paid. Eleven
cents was paid to Alec McLaughlin, of In
dependence, for 137 bales. The other crops,
secured were those of Nichols, Oregon City,
3'JS bales: Funrue. Sllverton. 30 bales at 8
cents, and, 8charr, Silverton, 23 bales at
7" cents.
The Meucke crop of 84S bales at Aurora
was bought bv H. L. Hart at about 9 cents.
Mr. Hart also purchased a number of small
lots aggrenatlng 250 bales.
No further trading was reported from
Western Washington, but business was
pending there.
English Annie Trade Is Slack.
Mall advices from London dated Novem
ber 6 say:
"The cosltlon on bo apples remains as
already reported, buying being very slack
end largs sm.pli sUU coming forward.
ir
5d to 5s for the 4 -tiers ani
the 4-tler fruit, and Oregon
5s tid to 7s U(U"
. Bank Clearing;.
Bank clearings of the Northwestern cities
yesterday were as follows:
Clearings. Balances.
Portland , $l,27,ayi $140,4'.(7'
Seattle l,T:H,4-!7 18:t,:t!ii)
Tacoma 204,7X7 24.878
Spokane BliT.Uu-l DU.87S
UlearinKS of Portland. Seattle and Tacoma
for the past week and corresponding week,
in former years were:
Portland. Seattle. Tacoma.
1014 lJ,!2u,i518 $1 1,.-K!,!I03 $2,;7,2ll0
1913 12.!J-!,:)05 13.778,332 2,3."i7,3'.)0
II'IS 12.Mo.Cll 12,U?I,lMu 4,4i;7,-ifi
ion i i,4:i:,7o3 lo,(io,447 4.:;s'.i.r4
1010 ",002.373 b,0...4jr 3.713,405
7,110,330 ll,CH3,r,07 &.304,."12
4.K27 002 7.y-12.4;7 3,!fl.132
1007 a,3r4.410. 0,154,330 3.701, 22K
1H0U 5,3113,430 3.432,3r. 4,3:.',70
10O5 4.1o4,126 ,U27.;i:l6 3.2K0.0U4
1004 4.44U.22U 4.8s7,.-37 3.017.-04
1003 3,143.430 3,u.33,lo 1,721,0X4
Two Cars of' Navels Received.
Two cars of navel oranges were received
yesterdav. Thev were of good color and
sold at S3. Ripe bananas were scasca, but
plenty will be available on Monday, The
apple surplus is working off fairly well at
steady prices.
Onions are firmer, but no higher.' A car
of sweet potatoes was received yer.terday.
POR1 I AND
MARKET
QUOTATIONS
Grain, Flour, Feed, Etc.
Merchahts' felxchanga noon session:
Prompt delivery:
Wheat Bid. Ask.
Bluestem $ 1.17 1 1.17V
Forty told 1.17 1.1U
Club ., 1.14 1.15
Red Russian 1.0! 1.00
Red File 1.10 1.12
Oats
No. 1 white feed 28.50 Ifl.OO
Barley
No. 1 feed 24. 75 25.50
Brewing 2.1.C0 20.30
Bran 23.00 23.50
Shorts '. ,. 23 60 20.00
Future delivery:
Dec. bluestem 1,18 1.19
Jan. bluestem 1.20 ' 1.21
May bluestem 1.23
Dec. forty fold 1.17 1.181
Jan. forty fold 1.10 1.20
Feb. forty fold .......... I.20
Dec. club 1.13 1.18
Jan. club 1.1514 1.1014
Feu. club 1.1014 1.17
Dec. red Russian 1.0! 1.10
Jan. red Russian 1.00 li 1.12
Dec. red fife 1.12
Dec. oats 2S.75 2D.no
Jan. oats 20.50 30. 0O
Feb. oats 3D. 00 30.50
Deo. bran 23.00 23.50
MILLKEED Spot prices: Bran, $24 & 24.50
per ton: shorts. $20.20.50; rolled barley,
S27.S0 ?28. GO.
FLOUR Patents, $6.00 per barrel:
straights, S3. 00; graham, $5.60; whole wheal.
fo.KO.
CORN Whole, $38 per ton; cracked, $37
per ton.
HAY ' Eastern Oregon timothy, 1R
15.00; grain hay, $10igil; alfalfa, $13.5041
14; Valley timothy, ?13i&14.
Dairy and Country Produce.
Local Jobbing quotations:
EGGS Fresh Oregon ranch, case count,
40c; candled, 4214c; storage, 27 4. 30c; fresh.
Eastern, 33:37V.c.
POULTRY Hens. 13c; Springs, 13c; tur
keys, live. 170 ISc; dressed, choice, 200
21e: ducks. 101il4c: geese, 10tfi12c.
BUTTER Creamery, prints, extras. 84V4o
per pound In case lots; Ifec more in less
than case lots; cubes. 31c.
CHEESE Oregon triplets. Jobbers' juylng
price, l,rio per pound f. o. b. dock Port
land; Young Americas, 1514c per pound.
VEAL Fancy, 11 14 12c per pound.
PuiiK Block, loo per pound.
Fruits and Vegetables.
Local Jobbing quotations:
TROPICAL FRUITS Oranges, navels.
$8 per box; Valenclas. $3.253.50 per box;
Japanese, per box, $1.2591.50; lemons, $3.50
05.50 per box; bananas, 4414c per pound;
grapefruit, $3.754; pineapples, 7 cents per
pound. '
VEGETABLES Cucumbers, 5075o per
doz.; eggplant, 7c pound; peppers, 871
per pound: artichokes, 90e per dozen; toma
toes, 60c&$l. per crate; cabbage, lc per
pound; peas? 10c per pound; beans, 6 7c
per pound; celery, 607uc per dozen; cauli
flower, 40 3750 per dozen; sprouts. 8c per
pound; head lettuce, $1.85 2 per crate;
pumpkins, lc per pound; squash, lc per
pound.
GREEN FRUITS Apples. 6!ic$1.80 per
""' ....a 'nn, I X L I' JUIIU; peWTS, fliri.3
grapes, 75cp$1.75 per crate; cranberries. SS
POTATOES Oregon; 75S5o per sack;
Idaho. 83c; Yakima, &3c$l; sweet po.
tatoes. 2o per pound.
ONIONS Yellow. 85390c per sack.
Staple Groceries.
Local Jobbing quotations:
SALMON Columbia River one-pound
tails. $2.30 per dozen; half-pound flats,
$1.50; one-pound flats, $2.55; Alaska pink,
one-pound tails. $1.05.
HONEY Choice, $3.25 per case.
NUTS Walnuts, 15i824c per pound;
Brazil nuts, 15c; filberts, 1524c; almonds,
2324c; peanuts. 6-Ytc; cocoanuts, $1 per
doz?n 1 . pecans, 1920c.
BEANS Small white, $5.15; large white,
5c: Lima. 5g614c; pink. 4.80c; Mexican
Site; hayou, 5.65c.
COFFEE Roasted, In drums, 18 H S3 14c
SUGAR Fruit and berry, $6.90; beet.
$5.70; extra C, $5.40; powdered. In barrels.
$6.15.
SALT Granulated. $15.50 per ton; half
ground. 100s. S10.75 per .ton: 60s, $11.60 per
ton; dairy. $14 per ton.
RICE Southern head. 6!i6!4c: broken.
4c.
DRIED FRUITS Apples, 8c per pound;
apricots. 13 15c: peaches. So; prunes,
Italians. S8c; raisins, loose Musoatels Kc;
unbleached Sultanas, 7c; seeded, Sc;
dates, Persian, 7714e per pound; fard;
$L40 per box; currants, .igi2e.
Hops, Wool, Hides, Etc.
HOPS 1814 crop, 8llc; 11 crop, nom
inal. -
HIDES Salted hides, 18o per pound; salt
kin. 18c: Salted calf. 18e nee nnunrir atoll
dry hides, t4c; dry calf. 26c; salted bulls.
xvo per pouno; green bulls. SHo.
WOOL Valley. 17SE18C-. Eastern flrnn
15 (f? 20c nominal.
MOHAIR 1914 ollp, 37e per pound.
CASCARA BARK Old and new. 4 noi-
pound.
PELTS Dry. lOlSllct drv ahort wn.l
8c; dry shearllnaa. lnaiRn ti
shearlings. 15 25c each; Spring lambs, 84
25c;. green pelts. October, 6070c: Novem
ber, 70 80c. .
Provtblons.
HAMS Ten to lz bound.. I9uau' u
to IS pounds, ri420lic; skinned. 17140
21c; picnic 1414c
BACON Fancy. 28 030c: . standard. 9s
28c.
DRY SALT CURED Short rl.n
I417c; exports. I5ifrl7s; plates. 111Sc
LARD Tierce basis: Pure. 131414o;
compound. SI40.
Oils.
KEROSENE Water white, drams, bar.
rels -or tank waeon. 10c: Rnenlai drtima m.
barrels. 1314c; cases. 17143J14c.
GASOLINE Bulk. 13o: cues 20o- .nniu
distillate, drums, 71iC cases. 14 lie; naptha.
ui-uiim, sic, cases, iyc.
LI.NSEED OIL Raw. barrels. SBer rmw.
caaes. SOc; boiled, barrels, 67c; boiled, esses.
2e.
TURPENTINE In tanks. Bdn. In - -
57c; 10-case lots, lc less. '
BAN FRANCISCO PRODUCE MARsUCT
Prices Quoted at the Bay City on Fralts,
v egecaoies, itc.
SAN PRANnsrn vnI- 01 -c .
. ---- -- 1 uh rune-
apples, $2.53.2o; California lemons. $1.76
' "i"", w ci u. rfOvPooc; Oregon
Newtowns. 90cW$1.15; bananas. $1
Mexican limes. f065c. '
beans, 25c; eggplant, 2580c; tomatoes.
Esgs Fancy ranch. 4Ac- n,iiir oa.
age. 27c. " "lor-
Onlons Yellow, 65gd5c.
rheawa Ynung A . -iv.i . -
10lc; Oregon. 1414c; Young America. 1a
Butter Fancy cretmrv t. ,
Potatoes Dnlr. Ttnrh.ni,. ,
. . . fCl BACK, OOC V
$1; sweets, $1.4ujfl.80 per sack; Salinas
Burbanks. SI 401.5P; Alvarado. $1.18(1.80.
quarters. Barley,
033 n centals. Potatoes. 430a ihi,. u;.
443 tons. '
Cotton Crop May Bo Record.
WASHINGTON. Nov. 21 PnnlMKtiu
this year's cotton crop eauallm? nr
exceeding the greatest crop heretofjre
, mocra ioaay Dy ths Census
Bureau's fifth ginning report of ths season
which showed the quantity of cotton ginned
prior to November 14 was 11,24.70S baies
the heaviest on record. In the last ev'n
years the average of the entire crop ginned
to the end of the same period u 73 per
cent. On that basis the present orop would
seem to be between 15.500.00G and 10,000 030
New York Clearings.
NEW YORK. Nov. 21. P:Trh..u a-j
'9,l0l balances. $15,813,879. For the week
exchanges, $1,402,845,203; balances. tXJL-323,81.
California Newtowns are making about
CHANGE FOB BETTER
Continued Improvement Noted
in Financial Situation.
NEW BANK SYSTEM IS HELP
Every Reason to Anticipate Pro
gressive Revival In Business and
Furthe Recovery In Security
Values-: Demand for Bonds.
Financial and commercial conditions are
making steady orogress toward normal, ac
cordlnr . to Hesry Clews, the New York
banker, who writes:
Week- by week Important changes for the
better are taklnar dace In the financial po
sition. These are reflected chiefly In easier
money, a break In sterling exchange and
Improvement in the credit outlook. By far
the most important current event Is the
opening of the Federal reserve banks. Of
course, these Institutions will not be In full
operation probably for several weeks to
come and some temporary inconveniences
may be caused by the transition from one
banking system to another. These, however,
will be trlfllhs in comparison with the ad
vantages of the new system. It is estimated
that, as a result of lowering reserve re
quirements from 25 per cent, to 18 per cent.
Including state banks and trust compmtes,
the increase in the amount of loanable
funds of the New York clearing-house banks
will be about $160,000,000; and possibly
:;uO.OOO.Ooo in the entire United States. In
all orobabllltv there will be a further retire
ment of clearing-house certificates and
emergency currency after the hew system
becomes effective, so that the net Increase
In funds will not reach the figures Just
mentioned.
Nevertheless, the increase will be large
enough to Insure a period of easy money for
Some time t rr come; because the require
ments of legitimate business are very small
owing to the continued contraction of trade
and industry. Clearing-house returns con
tinue about 25 per cent below last year. The
requirements for financing the clops have
about reached their maximum, and hence
rorth the demands from these sources will
diminish, esueclallv li our exoorts of food
products and cotton are very liberal.
Another Dfoof of reviving confidence IS
the cancellation by the ravings nanks of the
agreement to Insist upon the 00 davs' clause
In regard ti savings, which Is now left to
the Judgment of individual hanks In this
district. Still another important develop
ment was the withdrawal of restrictions on
trading in unlisted securities.
The New York Stock Exchange is now
earnestly at work endeavoring to effect an
early reopening with encouraging prospects
of success. Some fear of foselgn liquida
tion stui remains. -rue) selling pressure,
however, has considersbly diminished during
Lhe last few weeks, and would, If the ex
change were opened, probablv be confined
to those lr. nosltive need. On the other hand
the disposition of the buying power has
sensiblv expanded. The partial restoration
of confidence has brought in sight many
possible buyers who would eagerly take out
securities at bargain prices.
As to how much foreign selling would
really occur In this market, it Is impossible
to determine. It would, of course, be con
fined to comparatively few international
stocks. Tbe holdings of Americans abroad,
it is well understood, have largely dimin
ished. - At the same time there are large
amounts of securities owned abrosd but held
upon this side which might come out tinder
forced sale. The important fact remains,
however, that during the last month thero
has been less disposition to sell and a
greater inclination to buy. which has not
been able to make Itself felt because of the
closing of the exchange. During the latter
period there have been no Important new
Issues of securities. In spite of dull business
savings have been accumulated: and In all
probability there is an unusual amount of
Idle monev awaltine- Investment, and de
pending entirely upon a sufficient return of
confidence.
One more favorable development is the
opening of the New York Cotton Exchange,
and the adoption of a satisfactory scheme
for financing the new crop. The expira
tion of the British moratorium almost with
out notice was also a significant event.
Money Market Easter.
The local money market Is easier, owing
to conditions already referred to. and there
have been further Improvements in foreign
exchange, which touched the lowest rates
quotea since tne war began. The appear
ance of sterling loans in this market was
encouraging, indicating that London Is no
longer disposed to Insist upon the payment
of .our obligations in gold. The establish
ment of foreign government credits In this
market, presumably for the purpose of buy
ing war supplies, was an additional element
of Importance in the exchange market
J Some big foreign orders for war material
have already been placed. In this country,
and all Indications point to these continuing
on an Important scale throughout the war.
Such orders will prove" an important com
pensation for losses In our export trade In
other directions. In fact, our export trade
is showing very gratifying recovery; ship
ments of foodstuffs and cotton abroad being
unusually heavy.
The destruction caused by the war will
oouge Europe to come here for food sup
piles to a large extent for months after the
war is ended. This means that the Ameri
can farmer will secure good prices for his
products, and the great grain belt of the
Lmtea Mates, and Canada likewise, is
promised at least another year of prosperity
fro-n this source. The United States does
not wish to prosper at the expense of other
nations; but It Is not In any sense responsi
ble for the present . destructive war and
cannot be expected to do otherwise than
gladly accept any , advantages that may
legitimately come Its way as the result of a
terrible catastrophe. This country Is sup
plying horses, blankets, saddlery, boots ana
shoes, clothing, auto trucks and many other
forms of war material In amounts that will
run up into the hundreds of millions.
At present these are ths only bright spots
In our industrial activity. Ths steel trade
continues much depressed and Is running
at about half Its normal capacity. Our tex
tile Industries have been much disturbed by
the cotton situation, and now the woolen
industry la threatened by the embargo upon
Australian wool. Our railroads are suffer
ing from the diminution of freight caused
by slack business. The large number of
Idle cars and the big decrease in unfilled
orders on the books of the United States
steel Corporation are unwelcome proofs of
business stagnation in the East. Indications,
however, point to an early recovery, espe
cially in view of better money and credit
conditions; although no very radical Im
provements can be anticipated at once.
Railroad Problem Crgent One,
Congress will reopen with thecoming of
December, but the session will be a short
one. and President Wilson Is expected to use
his great influeence In giving business a
much needed reBt from legislative interfer
ence. The railroad problem continues to be
a most urgent one: and unleco the Inter
state Commerce Commission grants some
substantial concessions lc wilt appear to be
a miscarriage of Uistlce at this trying time,
as with diminishing revenue and em accu
mulation of deferred Improvements, their
financial outlook Is anything but encour
aging. Sound public policy certainly sug
gests that the Commission use Its great
power -for the purpose of strengthening
rather than undermining American credit
abroad.
Of late there has been a much better in
vestment demanded for short term notes, mu
nicipal bonds and high-grade securities. The
absorption ot these In the aggregate hao
been very considerable during the past two
or three weeks, and would suggest a corre
sponding Improvement in securities of the
next grades. With adjustment to war con
ditions nearly complete. with confidence
steadilv reviving, with easy money in pros
pect, there is good reason to anticipate a
progressive revival In business and a fur
ther recovery in security values.
An Important influence in depressing our
stock market was the Balkan war. which at
the start was correct W measured In London.
Berlin. Paris and other European cities, but
was underestimated in Wall street. We con
sidered it of but little Importance, as at
that time we were having a boom in ths
stock market with everybody feeling con
fident of higher crices. hence we were fool
ish enough to stand up and take the ava
lanche of securities that was unloaded upon
US at high prices, and this country haa
.been staggering more or less under that load
ever since. 1 r.e stocas inus sold out have
never been " taken back on the other side,
those, who have dealt In our securities men
while having onlv made aulck in and out
turns. The securities which ore now held
abroad are almost entirely of the Invest
ment grade.
No European securities at the present
time can possibly be as safe as ours for
people on the other side to hold, not onl
for Investment but for fluctuating differ
ences, and this will continue to be th- case
during the present devastating war which
threatens destruction In all directions
wsleh we are out of and In which we are
not llkelv to become Involved, besides hav
ing the brightest outlook for 'a speedy re
turn to great prosperity. Why, therefore,
should holders of our Investment securities
abroad erll them at panic prices, and why
should we fear that they will dump them
unon us to the extent of hampering us to
take care of them 7 There Is no Justifiable
reason, to expect such, unloading process
which manv of the banking people are
afraid of when the stock Exchange opens.
HVK BAYS' OPERATIONS RECORDED
First Statement of Condition ot New Re
serve Banks.
Washington, Nov. 21. The first show
ing of the condition of ths 12 B'ederal re
serve banks was made public today by the
Federal Reserve Board. The statement in
cludes operations tor the five preceding days
and Is preliminary to tne aetaiieu state
ments that will coma weekly later.
Members of the Board did not expect re
dlscounting operations to be large or quan
tities of Federal reserve notes to be taken
out until the bank reserves were firmly or
ganised, their first reserve Installments col
lected and the way paved for handling com
mercial business lor member banks.
The statement of condition follows:
Cash on hand
Gold coin and certificates $203,415,000
a-egal tender, silver certificates,
etc - 87.308,000
Total
Rediscounts
All other assets
. .$240,720,000
. .$ 0,607, IKKl
05,000
Total - $:'.4.423.0i0
Capital paid In , $ 1S.072.0O0
Reserve Deposits 227,13b,0O0
Federal reserve notes In circula
tion 1,215.000
Total $248,425,000
Oold reserve against all liabilities, bit per
cent; cash reserve against all liabilities. 105
per cent; cash reserve against all liabilities,
after setting aside 40 per cent gold reserve
against Federal reserve notes In circulation,
105 per cent,
'i 1 11
BANK STATEMENT IN NEW FORM
Changes Made to Meet Requirements of
Federal Banking Laws.
NEW YORK, Nov. 21. To meet the re
quirements of the new Federal banking
laws, 'Whloh became effective at the begin
ning ot the week, many changes were
shown in the Weekly statement Issued today
by ths clearing-house.
Hereafter the statement will deal more
specifically with loans, reserves In vau'ls
and In the Federal reserve banks and other
depositories. It will also disclose the
amount of net demand deposits and net
time deposits. What was formerly known
as "aggregate cash reserves" will hereafter
be referred to as "aggregate reserves."
Today's statements gave' only the grand
totals, since it was impossible to make com
parisons with any previous week. The huge
seserve and oash reserves were occasioned
largely by a reduction In reserve require
ments from 25 to. 18 per cent, as permitted
under the new law. When the new system
gets down to a more definite wonting basis
it is expected that the figures outlined in
these Items will undergo material reduction.
The summary dealing with the operations
of state banks and trust companies not in
cluded In the clearing-house Etatement also
shows several minor changes, without af
fecting Its essential features.
STEEL EXPORT ORDERS ENCOURAGING
Domestic Business Continues on Moderate
Scale.
NEW YORK. Nov. 21. Export orders for
steel products were a little more encour
aging this week, although sales were ex
aggerated and prices unsatisfactory. In ad
dition to sales of bars, sheets, wire, fencing
wire, rods, billets, nails and structural
Shapes for export to Eurone. Kmilh lm.rl.
and the Orient, there were rumors of soms
appreciable sales of rails for expoit to Nor
way and Russia.
Buying by domestic manufacturers and by
railroads again was a disappointment, al
though further concessions In prices were
made. However, miscellaneous orders were
larger In the aggregate and more manu
facturers Were sounding the market on bars
and plates for future shipment.
CHOICtTATfLlTsTRONG
MORE ENCOl'ItAGIXG OUTLOOK IS
LOCAL. MARKET.
ItoKS Are Firm in Price In Fare of
Liberal Receipts Light Run ot
Sheep During; Week. .
There was no trading at the stockyards
yesterday. Sixteen loads of hogs were re
ceived and all went direct' to packers in
this city and on the Sound. Receipts were
1209 bead of hogs and three cattle. Ship
pers were! With hogs Cover Bros., Ontario,
1 car; same. Plymouth, Idaho. 1 car; Ward
Harrington, Parmar. 3 cars; H. M. Fike.
Peekaboo, 2 cars; same, Richfield, a cars;
same. Eden, 1 car; will Block, Amity, 1
oar; F. B. Decker. Hubbard, 1 car. With
mixed load H. M. Block, Monmouth, 1 car
cattle and hogs. Total, 18 cars.
The official weekly market report of the
Portland Union Stockyards Company fol
lows: "Receipts for the week have been: Cat
tle, 1203; calves, 43; hogs. 67UC; sheep. 5183.
"This week marked a more encouraging
outlook for cattle that showed quality. Top
steers went at $7.30; very few sold below
$7. Cows did not show quality, except oc
caslonally, good stuff bringing as high as
"Hog receipts continued both liberal in
quantity and strong in price. Tops advanced
from $7r40 Monday to $7.50 Fridav, market
closing in excellent shape, prices higher
than at some Eastern markets.
continued short receipts and strong
prices characterized the full week's market.
Lambs sold as high as $6.50, ewes $4.50
and all other lines on the same price level."
The following sales are representative of
tne wees, s trading:
Wt. Price
Wt. Price
2,1 steers. . ,
25 steers . . .
40 steers. . .
38 steers. . ,
8 cows. . . ,
13 COW'S. . . .
IS cows. . , .
23 Cows. . . ,
1115 $7.60
1231 7.40!
1254 7.30
1 calf. .
11 $0.50
2 heifers. .. 001
35 hogs 2o7
0.25
1115 7.25
1281 8.25
tdi nogs.
253 hogs.
11 7.50
207 7.43
1111 6.15,471 hogs. .
127 7.40
S 6 50
01 6.25
1031 6.10
1071 5.8.1
1411 B.50
30 lambs. . .
HO lambs. . .
44 wethers.
1 bull. .
99 6.50
98 4.50
lstag..... 1230 5.25
16 ewes. ,
The following statement on font an mn..'.
disease has been issued by the Portland
Union Stockyards Company:
"Soms of the Eastern States havo been
forced to very severe methods for the
eradication of the foot and mouth disease
now prevalent In the United States.
"At present the disease has not been
found west of Iowa or Kentucky. In these
states such severe methods of quarantine
have been taken that should alleviate the
situation to a very great degree aud in a
short time stamp it out entirely.
"Wyoming has taken steps as follows:
All shipments originating west and south
of Wyoming may move into Wyoming upon
certification of the St a, to Veterinary or state
Sheep Commission. Stock originating In
Wyoming may move out of ths stats with
out any Wyomingrestriction.
"Oregon restrictions are as follows: All
livestock must move In cleaned and dis
infected cars. All stockyards must be dis
infected.' "Tho Portland Union Stockyards, to pro
tect stockmen, has started to disinfect the
entire yards and with the movement of
only disinfected cars to and from tho stock
yards there Is nothing that would lnditats
that these yards will be closed to traffic
Both tho Livestock Exchange and the Stock
yards Company are fully alive to the situ
ation and every precaution has been taken
by them to. Insure the Western stockmen
of an uninfected place to transact business "
Current prices of the various classes of
stock at the yards follow:
Cattle
Prime steers ..............
Choice steers ..............
Medium steers ............
Choice cows
Medium cows
Heifers .. ..w
Calves
Bulls
Stags
Hoes
Light
Heavy
Sheep "
Wethers
Ewes
Lambs ,
. .$7.00HP7.(I0
. . 6. ro ff 6. 74
. . 0.25ijZe .-
. . C. 75 ti 0.25
0.25'S'S.75
. . 6. 25 iff 6. 2
. . 00n.00
. . S.OOff4.7S
. 4.300.00
. . T.00W7.55
. . 6.0016.50
4. 00 V .1.60
3. 50 4. 55
5.006.50
Onahs Livestock Market. ,
SOUTH OMAHA. Nov. 21. Hogs P.e-
ceipts, 4300; market steady; heavy, 7 8S
7.55; light. I7.55W7.70: pigs, $0.503 7.S0;
bulk of sales. $7.40(!7.65.
Cattle Receipts 100: market steady; na
tive steers, $.50tfr)10.25; cows and heifers.
$5. 75&7. 25; "Western steers, $0ftS.50; Texas
steers. $5.80'?t'7.20: cows and heifers, $5.5o
7: calves. $Sfrlo.
Sheep Receipts 200: market steady: year
lings. $6 .7&j?7.25; wethers, $5.20SU.40
lambs. $a.10.
Chicago Livestock Market!
CHICAGO. Nov. 21. riogc Receipts 11.
000; market shade above yesterday's aver
age: bulk of sales. $7.2."i7.&'-: light. $6.00
&7.50; mixed. $7.15(7.05; heavy, $77.60:
rough, $7iU 7.15; pigs, $4. 50 tit 6.75.
Cattle Receipts 20(10; niarket sleadv;
beeves. $5.75'ti 10.50; steers. $5.40$T9; cows
adn heifers, $3.60&9.2o: calves. $:50i8ill.50
Sheep Receipts 100OS mark-' steadv :
sheep, $5.50-6.25; yearlings. $6.40,7.45;
lambs, $0. 75 jj 0.30.
Metal Markets. '
NEW TORK. Nov. 21. The metal markets
were generally quiet, but copper showed con
tinued firmness, with electrolytic quoted . at
12 14 '0-12140 and casting at 12
WHEAT CLOSES OFF
Market Is Affected by Argen
tine Weather Report.
GOOD HARVEST EXPECTED
Bearish Sentiment at Chicago Is
Aided by Estimates of Liberal
Increase in Visible Supply
Return on Monday.
CHICAGO. Nov. tl. Chances that the
wheat harvest In Argentina might turn out
more bearish than had been expected served
as a ground today to pull down quotations
here. Tho market, although steady at the
close, wss He under last night. Corn lost
K to lie He net. eatsflnlshed H to Klio
up, and provisions unchanged to 13Ht?l&B
down.
Sentiment In favor of lower prices for
wheat was Ihqreased by statements that ad
ditions to the domestic visible supply could
be looked for Until heavier export clear
ances became the rule. An expected liberal
enlargement of th visible Bupply total on
Monday will contrast with a decrease of
270.000 bushels at ths corresponding time a
year ago.
Offerings a little more plentiful ffom
Iowa, Nebraska and South Dakota had a
depressing Influence on the price of corn.
Fine weather that was likely to Increase tbe
crop movement counted also against the
bulls.
Active buying on the part ot buyers made
the oats market firm. Rural -offers were
next to nothing.
Assertions that the embargo on hog ship
ments from Iowa might bs removed on
Monday eased off provisions. Selling was
led by houses that have been conspicuous
buyers during the last few days.
The leading futures ranged as follows:
WHEAT.
Ocen. High. Low. Cloaa
Dec 11.1614 1.14"i $1.16 $1.16
May 1.24 W 1.21 1.21 U 1.21 H
CORN.
Dec. 64 .68 .66? .G
May 70 .71 .IV
Oats.
Dec 50 4 .60 .60 .60U
May 63 .50 .63 .53
MESS PORK.
Jan 18.67 18.60 18.60
May 10.20 . 10.20 1H.07 . 19.10
LARD.
Jan. 10.15 10.15 10.13 10.15
May ......10.30 ' lo.go 10.80 10.30
SHORT RIBS.
Jan 10.05 10.05 10.00 10.00
May 10.35 . 10.35 10.27 10.27
Cash prices were as follows:
Wheat No. 2 red. $LlSjl.lStt : No. 2
hard, $1.15 (g:1.15.
Corn No. 2 yellow, new, 06Hc; No.
yellow, new, 6.V.60c
Rye No. 2, $1.06M ei.07.
Barley 01y 8ic.
Timothy $3.7515.25. '
Clover $10. 00 to 14.00.
Minneapolis t.rln Market.
MINNEAPOLIS, Nov. 21. Wheat De
cember, $1.1414. May. $1.1914; No. 1 hard,
$l.ltf; No. 1 Northern, a 1.15 1.1s i
No. 2 Northern, $1.12ei.l6.
Flax, $1.49 1 y 1.48 V, ; barley, 57 08a.
European Grain Markets.
LONDON, Nov. 21. Cargoes on passage,
dull but steady.
LIVERPOOL, Nov. 21.-Wheat, December.
0s 8d; corn, December, 5s s!4d; January,
5s Slid.
San Francisco Grain Market.
SAN FRANCISCO. No. 21. Spot quota
tions: Walla Walla, $1.01 14 mi 1.05 ; red Kus
slan, $l.uil.!2Vi ; Turkey red, $1.05l.l)7 14 :
bluestem, $1.0714 2; feed barley, $l.il0i
1.2214; white outs. $1.52 14 & 1.65; bran. $2o
(925.50: middlings. $30ify31; shorts, $2.26.
call Board Wheat steady. Barley steady.
December. $1.2014; May, $1.35.
rugrt Soun'd Grain Market.
TACOMA, Nor. 31. Wheat Bluestem,
$1.10; fortyfold, $1.15; club, $1.12; fife.
$l.lo.
Car receipts Wheat 41, barley . rye 1.
hay 4.
" SEATTLE, ' Nov. 21. Wheat Bluestem.
$1.15; Turkey red. $1.12; fortyfold, 11.14;
club, $1.13; fife, $l.ll; red Russian, $1 08.
Yesterday's car reoelpts Wheat 38. oats
3, rye 1, hay 14. flour 6.
POULTRY NOT IN DANGER
TIIAKKSGIVIXQ Tl'RKEV t.'XAF
FECTED BY CATTLE EPIDEMIC.
Quarantine V 111 Not Interfere Wltk
Marketing of Holiday Supplies.
Effect on Human Healtk.
I WASHINGTON. D. C. Nov. 81. Ths rise
in price o( poultry or all kinds, whloh la re
ported to have taken place in various
states, cannot. In the opinion of experts in
the United States Department of Agricul
ture, be In anv way attributed to the out
break of the foot and mouth disease. This
disease does not affect poultry at all, and
the Federal quarantines of various states
now lay no embargo upon shipments of poul
try, i'or instance. Rhode Island can still
send out her Thanksgiving turkeys, al
though no cattle, sheep or swine can leave
her territory.
It is true that when a case of foot and
mouth disease is found upon a farm, that
farm is absolutely quarantined by the state
or local authorities. No produce of any sort
can leave it. the owner Is not even permit
ted to orive nis norses on tne public high
way, and in some cases, his children are not
allowed to go to school until tho exposed
stock have ben done away with and the
entire nremises thoroughly disinfected.
Since the disease, moreover, is readily
communicated from farm to farm by cats,
dogs, poultry and human beings, ths local
authorities exercise their own discretion in
determining what restrictions should bs
placed uDon shipments of produce from the
area in tiie immediate vicinity of the In
fected farm. These areas are so limited in
extent, however, that the amount of poultry
that may thus be prevented from reaching
the Thanksgiving market Is an Inappre
ciable percentage of the total supply. Poul
try from the uninfected areas In the vari
ous Quarantined states can be moved freely
without the least danger of spreading the
disease or of injuring tho health of the
Consumer.
The anxiety that has been expressed In
several Quarters In regard to the effect upon
human health s of the present outbreak of
the foot and mouth disease is regarded by
Government authorities as somewhat ex
aggerated. The most common fear Is that
the milk supplv might become contaminated,
but in view ot the precautions that the local
authorities In the Infected areas are very
generally taking, there la comparatively lit
tle danger of this. Milk from infected farms
li not nermltted to be shipped at all. The
only danger Is. therefore, that before the
disease has manifested itself some Infected
milk might reach the market. For this rea.
on. experts In the Department of Agricul
ture recommend pasteurization. As a mstter
of fact, however, useteurizatlon Is recom
mended bv the Department anyway, lor all
milk that Is not very high grade and from
tuberculin tested cows.
It has been demonstrated by experiments
which have been made in Denmark ami Ger
many that pasteurisation will serve as s
safeguard against contagion from the foot
and mouth disease lust as readily as it does
against tvphold fever, but in any event It
must be thoroughly done the milk must be
heated to 145 degrees Fshrenhelt and held
at this temperature for 30 minutes.
In this country the foot and mouth dis
ease has been so rare that there are few
recorded cases of its transmission to human
beings. In 1002 a few cases were reported
in New England, and in 190S in a few in
stances eruptions were found in the mouths
of children which were believed to have
been caused by contaminated milk. In 'both
of these outbreaks, the sale of milk was
stopped as soon as the disease was found
among the cattle. As long, therefore, as the
disease can be oonflned by rigid quarantine
to certain specified areas, the danger from
this source is very small.
Men who come in contact with diseased
animals mav become Infected. In adult hum-in
beings the contagion causes such svmp
tomi as sore mouths, painful swallowing.
t-v.r and occasional eruptions on the hands,
finger tips. etc. While causing- considerable
discomfort, however, the disease Is rsrely
serious. There Is. however, a very good
reason for everyone giving the diseased ani.
mala as wide a fcerta as possible, namely.
thst otherwise they mav easily carry ths
disease to perfectly healthy herds.
Coffee . and Sugar.
NEW TORK, Nov. 21. While todays
cables reported a decline of lid in the rate
Of Rio exchange on London and the Santos,
market was 100 reis tower, no Increased
cost and freight offerings were reported here
and 'be local market for spot coffee was
quiet but steady with Rio 7s quoted at 614c
and Santos 4s at 10c Sales of 3250 bugs
were reported through the liquidating com
mittee with December quoted at 5.32t&5.40e;
March. R.717.79c; May, 0.01 Si 5.00c ; July,
0.71 n- 0.80c.
There were reports that Europe was buy
ing coffee for shipment from New York, and
European shipments from Brazil are now
aid to be running about one-half of nor
mal. Raw sugar, steady. Molasses sugar, $3.36;
centrifugal. $4.01. Refined, steady.
Cotton Market. .
NEW YORK, Nov. 21. Spot cotton, quiet.
Middling uplands. 7.75c; no sales. Tho mar
ket closed barely steady, net unchanged to
10 points higr.er.
Dried Fruit at New York.
NEW YORK. Nov. 21. Evaporated apples,
steady. Prunes, firm. Peaches, firm and
steady.
Chicago Dairy Produce.
- CHICAGO, Nov. 21. Butter, lower; Cream
ery. 24&31!4c
Eggs Receipts, 3085 cases. un hanged.
Duluth Linseed Market.
DULUTH, Nov. 21. Linseed Cash.
$1.514; December. $1.47; May, $1.504.
Hops at New York.
NEW TORK, Nov. 21. Hops, steady.
Elgin Butter Market.
ELGIN, 111.. Nov. 81. Butter. 32;
INVESTORS IN MARKET
DEMWD FOR SKCtilllTlES STEAD
ILY ENLAnr.IXi.
Opening f Federal Renerve Ranks Of
fers Much IncourAfcrment Ki
rhaace Rates Dotvn.
NEW YORK. Nor. 21. Confidence In the
financial and business position Increased
during the week, Tne quick reversal of ih
decision to open the stock Exchange today
for regulated dealings in listed bonds car
ried ft warning of liquidation In unantici
Dated volume. Sham declines In the irregu
lar markets suggested U14 hazard of linul
datlon in a free market. Opening to luh
scriotlons in London for Cireat Britain's
huf? war loan of Cl.7ou.0O0.uu0 mtglii add
to oressure on the New York market.
That the exchange is determined to re
sume business In part at an early date Is
borne out; however, that another plan to
reoDen it Is to he submitted to the. gov
ernors early in the- cominsr wk
Slsna of imuroved investment demand
were manifest, the opening of the Federal
reserve banks offeHna much encouragement.
Exchange rates were also held down to near
normal and heavy exports of war Jna
teriala kept ud supplies In that market.
The first statement of the local clearing
house under the new banking laws was
rather unsatisf actorv. In that it failed, in
Its abbreviated form, to disclose any in
creases or contractions in the dotal led ac
count, while excess reserves reached the
record-breaking aggregate of 9 l7tt.8;M540.
due larvelv to reduced reserve requirements.
The statement follows:
LrOans. etc $2,14rt.l9.0(W
Heserve in own vaults 3."ii,4rt'.:,0m
Reserve in Federal reserve hank .M.utio.ono
Heserve in other denositories . . M. 44.00'-
Net demand deposits l.I:it!.L'H,(ji0
Net time deposits 1H .t::.M0
Circulation !.2.r.'.iMn
Aggregate reserve nio.lMt3.ooit
Excess reserve 1 7U.S3U.540
Summry of state hanks and truwt com
panles in Oreater New York, not included in
clearing-house statement:
Increase.
Lob no. etc. s- 35t.lll.7O0 $ 42H.00
Specie 41.73u.lMO IMlt.HOO
Legal tenders 12.3iH.iM)0 77,5oo
Total deposits eau.6&3,roj 1.1HU.UOO
Decrease,
Reserve:
Bftnks cash In vault $12.21. 300
Trust companies' cash in vault... 41.tu0.W00
BOM) MARKET MAY UK OI'KXED
Another Plan Submitted to the G ovens Inn
('otmnltlee.
NEW YORK. Nov. 21. A definite plan
to reopen the New York Stock Kxchane
for transactions In bondn. under certain re
strictions will be submit rid to the govern
ing committee of the exchange on Tuesdny,
It was announced today. The belief pre
vailed In the financial district that the
plan might be accepted.
While the special committee .has not din-
cussed its latest plan. It -was understood
that the specified restrictions were loss
broad in their scope than those of the plan
formulated earlier In the we?k and unex
pectedly reversed on Thursday.
It was understood that some of t he ob
J actions raised by financial institutions and
Other interests against the resumption rl
bond transactions have been overcome.
Exchanjre, ftilver, Etc.
NEW TORK, Nov. 1. Mercantile paper,
5'tfaa per cert. Sterling1 exchange, steady;
00-day bills, $4.,t.'J5; for cablen. 94
tor demand, $4.SS.23. Bar silver. 4!c.
SAN FRANCIRCO,Nov. 21. Silver bars,
4flc; Mexican debars, nominal. Drafts, sight,
.012; do telegraph, .05. 3terllny demand,
4.65V; cable, 4.SH-
Naval Stores.
SAVANNAH. Ga., Nov. 21. Turpentine
Firm. 44 c : no sales; receipts. 284 : ship
roents. 200: stocks. 82,3S.
Rosin Firm: sales, 132; receipts. 170T;
shipments, 174; stocks, 121,295. Quote: A
B, C, I, B. F, $3.45; O, 9U.&0; H. 13.35: 1,
3.70; K, $4.15: M, 14.75; N, 5.45; WG.
$5.70, WW,
OLYHPU HAS OIL GRAZE
REPORTED THCR8TOJT COUNTY
STRIKE STARTS SPECI'LATIOS.
Private and Public Land In Eiy Di
rection Leaned and Uncapping of
Producer la Set.
OLTMPIA, Wash., Nov. 21. (Spe
cial.) Oil excitement here has reached
fever heat with the public announce
ment today by the Crescent Company
that oil had been struck at its well
near Grand Mound, Thurston County,
and that the well would be uncapped
publicly Tuesday.
All available state land for miles in
every direction in Thurston, Lewis and
Chehalis counties has been leased by
speculators who are besieging tht
State Land Office seeking- to lease, foi
drilling purposes, land already undet
lease for agricultural development. Ar.
even greater amount of private land is
under lease.
Trading in a dozen different local
oil stocks ta brisk on the streets and at
a recently organized oil exchange
Twenty or more standard rigs will b
in operation within 60 days in the local
field, whatever may be the outcome of
the Crescent uncapping. The well
about to be uncapped ha been drilling
for nearly a year and has passed
through several thin oil sands, produc
ing Insufficient oil for commercial de
velopment. That a stronger showing
of high-grade light paraffine base oil
now has been encountered at the lSOn
foot level is the assertion of the Cres
cent Company. The well has been
capped for several weeks while addi
tional land leases were sought.
Unconfirmed reports are that the
Spreckels interests of California are
behind one drilling operation soon to
be started and that Standard agents
have been looking over the field.
Chehalis Mian Promoted in China.
' CHEHALIS, Wash., Nov. 21. (Spe
cial.) George V. Bickford. of Chehalis,
who recently has been stationed at Au
Tung, China, in the United States Con
sular Services as Interpreter, has been
transferred to Niu-Chwang, China. At
that point he is to be vice and deputy
Consul and interpreter. Corning with
the news of Mr. Bickford's latest trans
fer is the announcement of his early
marriage to, Miss Edith Edgar, whom
be met la the city ol Xiu-Chwang.
BAD EGG IfJ TRIED
Authorities Will Break Up
Illegal Traffic.
PROSECUTIONS IN EAST
Federal State and City Officials Are
Actively Co-operating in Illinois
in War Against Dealers in
Rots and Spots.
WASHINGTON. D. C. Nov. 21. Federal,
state and city authorities are now actively
co-operating in Illinois to put an end to
the illegal traffic in rotten eggs. Froru
cvidei.ee already gathered, there seems to bo
a definite market in chicaeo fnr "rots and
spots at 2 a case of 30 doien. In conse
uueiue. rota and snots from all over tho
surrounding country have been coming into
Chicago In large numbers. In the past, the
delay necessary to secure authorization from
Washington to make tlia selsures under the
eeueral food and drugs act has proved a
serious handicap in breaking up the traffic.
With tho co-oueration ot the state au-
CriVl'i- ev- ,hJ" dela ls "ow largely
obviated. Under the detention section ot
the state law governing this matter, stats
inspectors are able to hold suspicious ship
ments for examination and further lnvest
gatlon. The state authorities being on the
spot are able to act with great promptness,
in this way not only are seizures made pos
sible, but the necessary steps toward crimi
nal prosecution are f.lso facilitated
Oue of the firms In Chicago handling these
od eggs has already been tried bv a state
court and found guilty. Shipments of bad
eggs are also being reported to the authori
ties in Chicago by Federal, state and city
Inroectors In other states. In orrler that these
eggs may be traced to their ultimate desti
nation. Although there is a certain demand for
inedible eggs for technical purposes, such as
tanning leather, most ot the rots and spots
that reach Chicago are first brokj., and
frozen, and then sold to bakers for use it
cakes and other forms of food. In one in
stance, at least, a shipment of these ecus
was traced to a firm which admitted that
they had no use for them except in fooa.
As a matter of fact, Feder-il Inspectors have
been able to secure ample evidence ot .uo
use of unfit eggs for thU purpose.
Authorities Work Together.
Before they had the active co-operation
or the state authorities, howeve- it Mas
difficult to act with the promptness' requited
to obtain satisfactory results. Now, wlto.
tho state and Federal autlmrltl. j working
together, it is believed the traffic can be
broken Up very rapidly, in this connection
it Is pointed out that most of th? firms using;
these unfit eggs probably do so reluctantly,
believing that the competition of others
forces them Into the traffic. However it
has been amply demonstrated by the de
partment that the frosen and dried egg
business Is a successful and important in
dustry onlv when based on the use of good
eggs, handled under special conditions
Another important result of tne work In
Chicago. It is hoped, will be to persuade
other cities and slates or the necessity of
assisting the Federal Oovernment in de
stroying the traffic In bail eggs. That this
can be done has already been demonstrated.
hLv-jK""""")4 N; J- "H"8 It indictments
hae been found on the charge of oonoplracy
In connection -with this business. All or
the indicted men are now awaiting trial
Huch criminal prosecutions. It Is believed,
will do far more to put an end to ths traf'lo
than any number of selsurss or fines The
proiit In the business Is so great when con
ducted on an extensive scale that tne dealer
can well afford an occasional fine. His
rots and spots post lilm so little that when
his goods are seized, the loss Is insignificant
and in many cases he has no reputation St
all to suffer from the consequent exposure.
In this connection, ths general informa
tion which appeared fa ths service and
regulatory announcements of the Bureau of
i.hemistry. Department of Agriculture, issued
AuKust I!.",, 1BI4. Concerning the denaturing
of food products not Intended for food but
Intended for technical purposes, w'U be ot
Interest to those who aoal In certain food
products which consist In whole or In part
of decomposed material, such, for example,
a frozen or dried eggs shipped In Inter
state commerce for technical purposes ir
such products are not denatured before ship
ment, seizures wli; be. recommended in all
cases of Interstate shipments of such
uroducts. ThisVourse will be followed re
gardless of the labels under which the
products are sold. .No action will be taken
however. In the case of decomposed food
products which have been denatured in such
a way as to prevent their use for food pur
poses. '
New Florence Mayor in Office.
FLTIRENCE, Or., Nov. 20. (Special.)
U. 1. Morey, who was elected Mayor
of Florence to succeed George v.
Kvans. recalled, has taken his oath of
ofTice and presided at a special meeting
of the Council yesterday. The princi
pal business of the meeting was the
acceptance of the resignation of D. M.
Kyle as a member of the Council. The
vnrancy has not yet been filled.
OVERBECK &
COOKE CO.
reksrs, tracks. Beads, Cettea.
Grale, Etc.
SIA-S17 HOARD OP TRADB BLDG.
MKUB&H9 CHICAGO BOARD OF
THABO. I
(.srrafnnDii el Uu as tfryaa,
C icaa;e and New York.
UE.MBEHI
ftew TSrk Steele Extiaaie,
( klesi Stock Kirkasgt,
Bostea Stock Kachaage.
t blraao Board ef Trade.
Ktw l erk Cettea Kukiasi,
New Orleans Cettoe iiickangt,
Men York Coffee Kacbanae.
New York froduee klxcbaufft,
Liverpool Cotton A as 'a.
Oreat excitement In 'Wathiaetim aver )
prospects ox nnomt oil. Deveral companies
now drilling. .
Write for excerpts of ths latest reports
of the u. S, Geological Surrey pertaining
to oil lands of Washington supplemented by
the expert opinion of e-.onenrrd oil men
of the highest standing. SENT FREE,
ftnestions answered promptly. If you want
to got in RIGHT, write ms today.
J. B. DURYEA 252NT,!:"!lwihi:B,dr-
acont. Wash.
OND
COHPORAT1U9I AND MUNICIPAL.
ROBERTSON & EWING
Z07- Northwesters Baekt Blaa
TRAVELERS' GUIDE.
CO OS BAY LINE
STEAMSHIP BREAKWATER
-Sails from Ainsworth dock. Portland, 8 P.
-VI. every Tuesday. Freight and ticket otftce.
lower Ainsworth dock. P. A C. B. S. 8. Lane,
U H. Keating. Agent. Phones Main (600, A
2332. City Ticket Office. 80 Sixth St. C. W.
jjtlnger. Agent. Phones Marshall 4500, A 8H1.
STEAMSHIP
Satis Direct for San Kranclnco. .Loa
Anjceles and Kan Uiettro.
Monday, 2:30 P. M., Nov. 23
SAX FRANCISCO, PORTLAND &
LOS AM,ELKS 8TKAMXI1IP CO.
FK-Wlv IIOLLAM, Agent.
U'i Third St. A 40Ud, Alain 20,
mm
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