The Sunday Oregonian. (Portland, Ore.) 1881-current, April 18, 1915, SECTION TWO, Image 33

The Sunday Oregonian., April 18, 1915, SECTION TWO, Page 15, Image 33

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Newspaper Page TextTHE SUNDAY OREGOXIAN, PORTLAND, APRIL 18, 1915. 15 WOOL SELLS FREELY Another Half Million Pounds of Yakima Turned. LIVINGSTONE LARGE BUYER Shearing Is Under Way in Parts of 'jt.-tcrn Oregon and Will Be General In the State in Another Week. Wool buying- on a largo scale ha been carried on in Eastern Washington In the past week, and the American Woolen Com pany has added another half million pounds to its purchases In the last few dayH. "Thera has been free selling In Eastern 'Washington during the week." said Isldor Koshland, who returned yesterday morning from North Yakima. Probably SOO.000 pounds more have changed hands. Mr. Livingstone, of the American Woolen Company, was the princi pal operator. The prices paid ranged from 1 to 18 cents for fine and 24 to 25 cents for medium wool. The selling was all In the Yakima Valley, the sales being at North Yakima, Sunnyside, Toppenlsh, Mabton and Klona. Fine wools have dropped In price from the opening about 2 cents, while cross breds seemingly have held their own. A ale Is to be held at Pasco on Tuesday. "The wools as a whole have been very good and are far superior to those of any previous season. "So far the dealers have not entered the market, the only operators In Washington being the Botany Mills, represented by O. H. Green, and the American Woolen Com pany. "Shearing is well under way at Arlington and quite a few lots ara in the warehouse. Shearing Is also being done at Pilot Rock and at Castle Bock. It will be general In Oregon in about a week.' WHEAT TRADE WITH EAST IS LARGE Interior Ceases to Offer Grain to Come This Way, "Buying of wheat for shipment eastward by rail Is assuming larger proportions. The atrength of the demand yesterday was shown by the fact that practically no wheat was offered by the interior to come this way. Facts as to the quantities purchased were not learned, but It is known that at a nuiM ler of points In the Interior orders have been received from milling centers In the Middle West. The Eastern buying has had the effect of stimulating Interest on the part of the Coast millers, and several sales of milling wheat were made yesterday at full prices. As usual on Saturday, business was quiet at tho Merchants' Exchange and no sales were posted. Bids were generally advanced, with milling glades exhibiting the greatest firmness. Offers for coarse grains were un der those of Friday. Total sales on the exchange in the past week were 60,000 bushels of wheat and 100 tons of oats, of an aggregate value of SS1.175. Wheat exports from Portland during the pant week were 02,377 bushels. Receipts for the week were 113,700 bushels. The Mer chants' Exchange statistical reporc of tide water receipts follows: Wheat. Bar. Fir. Oats. Hay. Portland. Sat 2:1 .. .. 0 4 Year BSD IS 13 9 3 1i Total tills week... f 2 li IB aw Year ago 1 n 50 21 42 reason to date. . . . 1 f,"2 1S 17i(l 18H8 1855 Year ago 1R0S5 2:521 2452 1518 243S Tacoma to date S!i 527 . . fim L'UOS Year ago 83:18 7U7 .. 418 2200 Seattle. Thurs JO 5 S 11 Year ago P 1 0 1 17 Season to date.... 7318 104S 2010 1100 5112 Year ago B3HS ion 1842 1139 4570 DISPOSITION OF LATE PRUNE CROPS European Product Bought Up Early In Fall by Germany and Atuttriii. To the question, raised in various quar ters, as to what has become of the 1914 crops of Bosnia, Serbia and Turkish prunes, a leading California packer makes the fol lowing reply: "The war practically shut off the ship ment of the Turkish and Serbian crop, and the goods were bought up by the Austrian find German markets, so that there is nothing left to export, even If the war oomes to an end. Germany and Austria realized that there would be blockade against them, and taking time by the forelock bought everything they could get their hands on early in the Fall. "The Bosnia crop was about 35,000 tons In 1914, against 24,000 tons the year pre vious. The big end of the Serbian crop was never gathered, as the heaviest part of the war was fought during the Fall of the year, and largely in the district where the prunes were grown. "This situation explains why there has been such a heavy export business from the United States to other European coun tries, and also explains why this export business will increase. "It looks like an absolute clean-up of the various dried fruit crops all over the world within the next few mouths, as the demand Is considerably above normal, and the sup ply considerably below normal." ORDERS FOR HOPS STII.r, LACKING Revival of Trading in California Taken as Favorable ign. The renewal of hop buying in California, mm reported in these columns yesterday. In terests the local trade, although there are no signs of a revival of activity here. The belief prevails that the programme of the British government will be the prohibi tion or at least restriction of sale of spiritu ous liquors, but that the sale of beer will not be further Interfered with. Official an nouncement of such a policy might stimulate hop business here. Reporting on the decreased beer consump tion In England, Consul Bylngton, of Leeds, writes: "Considerable Interest Is being displayed In the effects of the early closing hours and Increased tax upon the consumption of beer In Leeds. While it Is deemed impossible to differentiate between the effects due to the two causes, one of the most prominent local brewers estimates the decrease in consump tion from 30 to 40 per cent, while some others place it as high as SO per cent. As beer brewing Is a large industry in Leeds the de crease In consumption will be felt locally as well as by other British brewers whose prod ucts are sold here." ITLt CAR OF BERRIES IS COMING First Large Shipment Will Arrive From Los Angeles Wednesday. Small shipments of Los Angeles straw berries are due on Monday and Tuesday. The first full carload for Portland will be out from Los Angeles today and will reach this city Wednesday. Four cars of bananas were unloaded yes terday in more or less green condition. There was a fine delivery of vegetables from the steamer Northern Pacific They were shipped from San Francisco on Thurs day under refrigeration and were distributed on the street yesterday morning In excellent condition. Half a car of Telephone peas arrived and were quoted at 7H and 8 cents. Asparagus was steady and lettuce was scarce and firm. EBUYVILLE MOHAIR SALE MONDAY Pool at Sclo Will Re Disposed of on Friday. Market Active. Business Is steadily passing in tho mohair market, 'ocal and country buyers operating at var'ous Valley points. Most of the pur chases In the last few days have been made at 1 to 32 cents. .ll the local firms will be represented at be Mohair pool sal that will be held at addyvllle on Monday. Riley Shelton, secretary of the Sclo mo hair pool, announces that the pool will be sold at Sclo at 2 P. M. April 23. There will be about 12,000 pounds In the pool. ' Eggs Steady and 1'nchanged. The egg market closed steady. Large buy 9T operated at 17 to 17 cents and jobbing sales were made at 18 cents. These prices will probably prevail during the coming week. Receipts of poultry and dressed meats yes terday were light and prices were un changed. Butter was steady at current quotations. Onion Sales Decrease. No report from the Sherwood section was received at the Confederated Onion Growers' Association meeting yesterday. In the other districts only two cars were shipped during the week and two sold to go to Seattle In the coming week. Righ Bids for Valley Wool. Willamette Valley woolgrowers do not seem disposed to sell at the present prices. An offer of 28 cents that was made was turned down. Another dealer bid 'JO cents without results. Bank Clearings. Bank clearings of the Northwestern cities yesterday were as follows: Clearings. Balances. Portland 1, 458..0 120,7u Seattle l.'.iai.tmT ilO.01.1 Tacoma 2uo,:i24 u.tilj Spokane 92,941 Clearings of Portland, Seattle and Tacoma for the past week and currejpunulng week in former yeara were: Portland Seattle. Tacoma. 1015 Ill,5Mri,75U 1.2.,y,267 $2.11.7:2 1914 13.21l0.G25 14.114,497 2.1S5.:;i4 lin3 I4,:s5s.eul is,uss.o58 a.b7.uoi 1912 ia.:tol,7U0 ll.S;2,431 4,111.994 1911 12,tKi5.;iS. 0, I'M, 491 4.197.42U 191(. 11,937.272 11.554.S49 4.871.459 1909 6, 923.020 10.1H5.2S9 4.832.053 l!KtS 5.37t.093 7,582.410 3.49S.953 19117 (J.t-33.140 9,115(1. 4. 12 4.31IS.13S 100(J 4.231,472 8.322.474 3.030. Sil 1905 3,3(19,330 4,235.787 2,bl7.10 1904 8.1159,238 3,4sS,334 2,099.82(1 19113 -1, 759,8.7 3.350,017 1,975,230 1902 2,127.480 2,00,Ol'() 1.948,111 1901. 2,017,199 1.034.041) 2,480.494 PORTLAND M A BKE T QUOTATIONS Grain, Flour, Feed, Etc Merchsnts' Exchange, noon session: i Prompt delivery: Wheat . Bid. Ask. S 1.35 181H 1.30 1.23 1.25 34.00 26.23 2S.0O . 25.50 1.89 1.38 1.83 1.S4 1.30 1.82 1.29 1.81 1.2 1.28 S4.00 34.7,1 26.50 27.00 25.00 25.00 25.00 Bluestem 1,30 Forty-fold 129 Club 1.2i Red fife 1.23 Red Russian 1.2l',i Oats No. 1 white feed 33.00 Harley No. 1 feed 2.1.00 Bran 23. B0 Shorts 24.00 Futures May bluestem 1.32 June bluestem 1.34 May forty-fold 1.3014 June forty-fold 1.80 May club 1.28 June club 1.28 May red fife 1.2 June red fife 1.25 May red Russian..... 1.21 June red Russian 1.23 May oats 33.50 June oats 34.00 Mav barley 25.00 June barley '. . . 24.00 May bran 23.75 June bran 24.00 May shorts 24.00 .Iilnn ithnrta 24.00 26 00 FLOUR Patents, $0.80 a barrel: straignis. $6.25: whole wheat. $7; graham, $6.80. MILLFEED Spot prices: Bran, $26 per ton: shorts. $28: rolled barley, $8031. CORN Whole, 135 per ton; cracked, $38 per ton. HAY Eastern Oregon timothy, $14(915; Valley timothy. 12w 12.50: grain hay, $10O 12; alfalfa, f 12. 50 18.50. Fruits and Vegetables. Local Jobbing quotations: TROPICAL FRUITS Oranges, navels, $2.Go&2.75 per box; lemons, $3.003.73 per box; bananas, 4&o per pound; grapefruit, $3.754.50; pineapples, 7ViSo per pound; tangerines, 11.2501.75 per box; blood oranges, $1.50 per box. VEGETABLES Cucumbers, hothouse, $4.50 per crate; artichokes, 75 85c dozen; tomatoes, $6 per crate; cabbage, 23Ho per pound; celery, $4.50 per crate; cauliflower, 75c$1.25 per dozen; head lettuce, $2.25 per crate; hothouse lettuce, 75c$l per box; spinach, 5c per pound; rhubarb, lttlo per pound; asparagus, $11.25 per dozen; eggplant. 30c per pound; peas. 7 Sc per pound; beans. 17J22Hc per pound. GREEN FRUITS Strawberries. $1.75 1.85 per orate; apples. $11.75 per box; cranberries, $llj12 per barrel. POTATOES Oregon, $1.85 S 1.50 per sack; Washington, $1.25 1.30; Idaho, $1.50; new postatoes, 8 9a per pound; sweet potatoes, 39 per pound. ONIONS Oregon, selling price, 75o per sack, country points; California, jobbing price, $L75 per crate. SACK VEGETABLES Carrots. $1.50 per ssck; beets. $1.50 per sack; parsnips, $1.25 per sack; turnips, $1.75 per sack. Dairy and Country Produce. Local Jobbing quotations: EGOS Fresh Oregon ranch, case count, 17 (r ) 8e per dozen. POULTRY Hens, I5H16c; broilers, 25 2Sc: fryers, 18&20c; turkeys, dressed, 22 23r; live, 16(S t9r; ducks, 1213c. BUTTER Creamery, prints, extras, 25c per pound In cane lots; ic more in less than rase lots; cubes. 2122c. CHEESE Oregon triplets. Jobbers' buying price, 14 Vic per pound, f. o. b. dock. Fort land; Young Americas. 15t&o -per pound. VEAL Fancy, llV2(112o per pound. PORK Block, SVit&'lOc per pound. Staple Groceries. Local Jobbing quotations: SALMON Columbia River one - pound tails. $2.30 per dozen; half-pound flats, $1.50; one-pound flats. $2.50; Alaska pink, one-pound tails, $1.05. HONEY Choice, $3.25 per case. NUTS Walnuts, 155'24c per pound; Bra zil nuts, 15c: filberts, 15if24c: almonds, 23 &24c; peanuts, 6c; cocoanuts, $1 per dozen; pecans. 19frj20c; chestnuts. 10c. BEAKS Small white, ec; large white, 634c; Lima, 6',jc; pink, 56c; Mexican, 6Hc; bayo, 6Ho COFFEE Roasted, in drums, 31Vi33Vc. SUGAR Fruit and berry, $8.70; beet, $6.50; extra C, $6.20: powdered, in barrels, $6.95: rubes, barrels, $7.10. . SALT Granulated, $15.50 per ton; half ground, 100s. $10.75; per ton; 50s, $11.50 per ton; dairy. $14 per ton. RICE Southern head. 6 4 ff 6 t c ; broken, 4c per pound; Japan stvle, 5Wo4c DRIED FRl'TTS Apples. 8c per pound: apricots. 134'15c: peaches, 8c; prunes, Ital ians, Sg9c; raisins, loose Muscatels, 8c; un bleached Sultanas, 7Vic; seeded, 8c; dates, Persian. 10c per pound; fard, $1.65 per box; currants, 8 54 12c. Hops, Wool, Hides, Etc HOPS 1914 crop, nominal; contracts, nominal. HIDES Salted hides. 13Vic; salted kip, 18c; salted ralf, 17c; green hides, 12c: green kip, 13Wc; green calf, 17c; dry hides, 24c; dry calf, 26c. WOOL Eastern Oregon, coarse. 2225c: Eastern Oregon, fine, 16 18c; Valley, 28 (a30c. MOITAIR New clip. 31(S32-aic per pound. CASCARA BARK Old and new. 44V4c per pound. PELTS Dry long-wooled pelts. 15c; dry ahort-wooled pelts. 13c; dry shearlings, each, 10c: salted shesrllnss, each, 1525c; dry goats, long hair. each. 13c; dry goat, shear ings, each, 10-if20o; salted sheep pelts, April, $12 each. Provisions. HAMS All sizes. 17V418Hc; skinned, IT (B18c; picnic. 12c; cottago roll, 13Vic; broiled. 19(328c. BACON Fancy. 2728e: standard, 230 24c: choice. 17 !i n 22c ; strips. 174c DRY SALT Short clear backs. 1815Hc: exports. 1517c; plates, lH418c LARD Tierce basis: Kettle rendered, 12Hc: standard, 32j; compound. 8ie. BARREL GOODS Mess beef, 23c; plate beef, $24.50; brisket pork. $28.50; pickled piss' feet, $12.50; 1ripe, $9.50 11.60; tongues, $25880. Oils. KEROSENE Water white, drums, barrels or tank wagons, luc; special arums or bar rels, 13Hc; cases, 171i&2CHc. GASOLINE Bulk. 12ct cases. 19o; engine distillate drum.t, 7 Vic; cases, lttc; naptha, drums, 11c: cases, 18c. LINSEED OIL Raw, barrels, ' 75c; raw. cases, SOc; boiled, barrels, 77c; boiled, cases 82c. TURPENTINE In tanks, 60c; In cases. 67c, 10-case 4ots, lc less. Naval Stores. SAVANNAH. Ga.. April 17. Turpentine iiiiii, n . biiiob nunc, , reueipis ZUI Dar- rels; shipments 194. stocks 20.170. Rosin firm. Sales none. Receipts T62 iiinuiciua BIOCK vuote: A, B. C, D. $3.25; E. $3.40; F, O, $.1.45 H. $3.50; 1, $.1.60; K. $3.80; M, $4.15- n' ftf.li'l ItU, ?.J.Ul, VV YV , eo.DiK Chicago Dairy Produce CH1CAOO, April IT. Butter lower, cream ery 2229c. Eggs higher: Receipts 27,689 uunt.it. ui marl, fjunes inciuaea, J8$vl97jc ordinary firsts 18Vil8c, firsts lV419'jc. Hops at New Tork. NEW YORK, April 17 Hops quiet. STEEL TOUCHES 60 Other Speculative Leaders Register Good Gains. INDUSTRIALS ARE ACTIVE Enormous Trading in Stock Market During Week la Certain Indi cation of Widespread Con fidence of Investors. NEW YORK, April 17. A week of extra ordinary activity in the stock market cul minated today In a higher level of quoted yalues, virtually throughout the list. The various Industrial and equipment Issues, which recently became the center of un restrained trading, again were prominent, with further gains of 3 to 7 points, although American Locomotive and New York Air brake closed with net losses. United States Steel was the foremost fea ture, dealings exceeding 165.000 shares, or almost 25 per cent- of the two hours' busi ness. It advanced to 60, its best price of the current rise. Trading in Steel was on a scale like that which made the stock conspicuous in by gone years. Lots of 1000, 2000 and 8000 and even 4000 shares were absorbed with a free dom begotten of confidence of extreme bear necessity. There were unconfirmed rumors that the company soon would announce the receipt of war orders. Oeneral industrial reports. Including a marked increase of production by leading steel mills and announcement of the pass- ng of the Intense pessimism so long pre vailing in mercantile lines, contributed In no small measure towards the buoyancy mani fested in speculative circles. Total sales amounted to 680,000 shares. Today's bond sales, par value, aggre gated $2,252,000.- United States bonds were unchanged on call. CLOSING STOCK QUOTATIONS. Closing. Sales. High. .8 7(1 '4 49 'A 39 73 104 112 123 232 H 3o4 102 76 91S 18H 109?4 43 48 12 US ISO 45 85 Vi Low. Bid Alaska Gold.... 1.800 Amai Copper... 22,800 Am Beet Sugar. 1,400 American Can.. 23,700 Am Sm & Refg. 1,700 37 Vi 4I 88 V4 72 H 1044 HO 123 2S2ti 86 102 Si 76V4 1V 17V. 109 V 39 4B4 12Vi 85 130 44 34 Vs 37 7(i 47 38 72 ?i 104 . Ill 123 Vi 231 36Vi 102 Vi 76 91 Vi 17Vi 1691s 43 46 12 95 129 'a 44 K4 30 7Vi 14 8 2S 154 12014 39 5S 109 72 Vi .101, 95 25 143 123 83 4 25 13 1S lis 67 15 esi 64 Vi 104 Vi 109 21 36 110 15(Vi 22U 152 31 1 6 92 33 Vi 1S8 131 80 50 1) S Ti 60 4 67 86 aa pia 400 Am Sugar Refg. 2.700 Am Tel & Tel.. 6.50O Amer Tobacco.. 200 Anaconda Mln. . 11,300 Atchison 3,000 Bait & Ohio 2,400 Br Rap Trans.. 000 Cal Petroleum.. 1,800 uanaaian fac. Cent Leather.. Ches & Ohio.. Chi Gr West.. C M & St P.. Chi & N W. .. Chino Copper. Colo F & Iron. Colo & South.. d & r a 1,100 38,200 1.60O 40O S.10O 200 ,000 4,300 00 nfd Dlst Securities.. 400 Erie 18,200 9V 154 . 12(l- 39 59 1O0 V4 73 30 V4 25?i 143 83 26 14 16 "67 ?4 15 88 60 Vi 104 Vs 109 i 22 110V4 "22'vi . 1 92'.i 33 Vs 132" ' 80 V4 00 109 - 6(1 STs 88 9 28 151 Vs 120 89 5H 309 71 29 Vi "25" ' 143 83i 25 13 74 15 "eevi 15 S7U 63 Vs 104 Vs 109 21 36 V4 109 '22' " 142H 31 Vi 1 "92 1SV 33 Vi vi S0V4 57 los 5 y. SVi 80 V4 General Eleo... Or North pfd.. Or Nor Ore ctfs- 2.50O 1.S0O 4,400 1,300 200 8.700 12,800 Guggenheim Ex. Illinois rentral. Inter Met prd.. Inspiration Cop. inier iiarv K C Southern.. 1.1IM Lehigh Valley.. 1.9O0 Louis ft Nash Mex Petroleum. 7.900 Miami Copper.. 3.30O M K & T 800 Missouri Pacific 2,600 National Biscuit National Lend.. Nevada Copper. 2.000 1,700 S,500 4,900 3.800 60O 200 2.100 " V, 500 29.HO0 12,000 1,100 1.200 ' V.400 a, 000 700 20,966 iv x ventral... N Y. N H & H. Nor & West. . . . North Pacific. Pacific Mail . . . Pac Tel & Tel. Pennsylvania Pull Pal Car... Kay Cons Cop.. Reading Rep Iron & St. Rock Isl Co... do eld StL&SF 2d pfd. South Pacific. wouth Kv Tennes Copper.. rexas co Union Pacific, do pfd 200 U 8 Steel 135,9(10 do pfd 1,900 Utah Copper... 8.500 West Union.... 1 ;i00 West Electric. 12,000 jnouiaiia rower. 300 Total sales for the day, 680,000 "shares."'" . 51 Vi BONDS. U S Ref 2s, reg. 18N Y C G 3V4s.. R0V4 do coupon.... 98 Nor Pao 3s 65 Z C S 3s, r-eg 101 do 4s 92 cuPn 101 Union Pae 4s... 95 DSN 4s, reg. .100 ( so jao Conv 5s. 99 2 do coupon 11V " Money, Exchange. Etc. TCITW VORlf A-H IT - ,,. , . ., . . . . -iciMuiua paper, 3Vs,w3 per cent. Sterling c v,-)i . n ,0 n,,,,, oi . , , , 50; for cables,' $4.7050;' for demand Bar sliver, 50c Mexican dollars, 8Sc. (ini.irnmo, V 1 ... , . . firm. ..roa oonas. LONDON. Anril 17. T!.r- llv.r ona-iei per ounce. Money, lvil per cent. Dis count rates Short bills, 2 per cent; three months, 3 per cent. , SAN FRANCISCO, April 17. Mexican dol lars. 37c; drafts, sight, 4 per cent; do. teleirraDh. T tir i.nt ic,i(n ..... $4.76; demand. $4.79; cable. 4.S0. STOCKS ARE NOT PLENTIFUL NOW. Big; Demand In Wall Street Discloses Unex pected Scarcity. NEW YORK. April 17. In the stock mar ket, the week was an unmistakable index of a wide sweep of speculative confidence. The professional trading element, skeptical after the long inertia of the market, sold on all advances, but the laj-ger public buy ing absorbed all offerings. Diligent Inauiry sought out long dormant Issues and cir cumstantial stories of "war contracts" fol lowed In natural sequence. The unprofessional character of the deal ings was indicated in the niiav,, i regular movement. Reactions on realizing' sales, which ran Into enormous c-ronortlon on liberal foreign offerings, or violent spurts threatening disaster to shorts, were over ridden. A rapid bidding up of Stock Ex change memberships proved tho new mood of the market. Sudden realization of conditions long farming set speculation aflame. The first considerable demand since early last year disclosed an unexpected scarcity of stocks Large withdrawals from the market had been going on aulerlv. nrnmr(H kv v. cheaper rates for money and the relatively Warnings that domestic trade revival is not keeping pace with speculation do not Impair faith that events are shaping to recovery. Expanded bank clearings, reduced freight car surplus, heavy absorption of cot ton supplies, rising demand for copper and Increasing production of Iron and the prom ising agricultural outlook are seized upon to sustain confidence. Changing public sentiment toward "big business" and he ef fective credit machinery of the Federal re serve banking laws are also relied upon. Underlying all these is the Impulse which was formulated In the official phrase of a stock exchange committee that "a period of great speculation comes after every great war." TWO MILLION INCREASE IN WEEK. Federal Bank Reports Gain in Early Matur ing I.oans and Discounts, WASHINGTON. April 17. Discounts and loans maturing within 30 days. In the hands of the Federal Reserve Banks. Increased during the past week about $2,000,000. ac cording to the statement of the banks' con dition April 16. issued today by the Federal Reserve Board. It tohowa: , Resources Gold coiu and certificates $237,206,000 Legal tedder notes, silver certifi cates and subsidiary coin 29,360.000 Total $260,566,000 Bills discounted and loans Maturities within 30 days. ....... .$13,868 OOO Maturities witbin 60 days 14,224 OOO Other 7.823000 Total $35,915,000 Investments $ 2,'I.30o,000 uue rrom otner reaerai iteserve banks, items in iranstt 5.31 5. nrto All uther i-enources v 1O.OSO.0OO Total resources ..$341,179,000 Liabilities Capital paid in I J8.207.000 Reserve deposits 294.164.000 federal Reserve notes .n circula tion (net liability) 10,767,000 51.000 Total liabilities $341,179,000 Gold reserve against net liabilities, 79.2 per cent. Cash reserve against net liabilities, 89.0 per cent. Cash reserve against liabilities, after set ting aside 40 per cent gold reserve against net amount of Federal Reserve notes iu cir culation, 90.8 per cent. GAIN IN EXCESS RESERVE REPORTED New York Banks Reduce Loans During Past Week. NEW YORK, April 17. The statement of the actual condition of Clearing-House banks and trust companies shows that they nola X15S, o 7,820 reserve in excess of legal requirements. This is an Increase of S9.842. 8S0 over last week. The statement follows: Increase. Loans, etc 2. 389.808.000 $ 4. 015, 000 Reserve, own vaults M04.7S.OIK 12,83.0O0 Reserve in Feder al Reserve Bank 120,184,000 1.264.000 Reserve in other depositaries . 20,010,000 1,045,000 Net demand de posits 2.293.710.000 11.847,000 Net time deposits.. 121.212.000 2,087,000 Circulation 37,64(5,000 27,000 Decrease: "of which 1331,93S,000 is specie. Aggregate reserve, $554,983,000: excess re serve, (153,057,820; increase, $9,842,880. Summary of state banks ana trust com panies in Greater New York not included in Clearing-House statement: increase. Loans, etc $565,595,900 $4,579,300 Specie 44.615.500 403.700 Legal tenders 9.779,100 2,500 Total deposits 683,862,100 7.404,000 Decrease. Hanki' cash reserve in vault. $10,888,900: trust companies' cash reserve In vault, $43,- 505,700. Americans Firm at London. LONDON. Anril 17. Business on the stock market todav was fair, with investment and copper shares most prominent. Considerable attention was paia to tne American secuuu which had a firm closing. SAN FRANCISCO. AdMI 17. Barley feed $1.301.32 : oats, red $1.52 a 1.60. Walla Walla, $2.27Vi 2.30; red Russian. $2.25 2.37Vi: Turkev red. $2.30(9 2.2 ; bluestem. $2.35(6'2.40: white oats, $1.77 41.80: bran. $26 27: middlings. $32 33; shorts, $2728. call Boara: nariey, uec. i.w, may i.ou bid, $1.33 asked. WHEAT RISE IS BRISK LA It OK DEMAND IN VISIBLE SUPPLY IS PREDICTED. Duluth Reports Sale of Millloa Bushels for Export Rain la Needed In Ohio Valley. CHICAGO, April 17. Predictions of a large decrease in the United States visible supply on Monday helped today to bring about an advance in the price of wheat. The market closed nervous at lc to 21,c above last night. Other leading staples, too. all scored net gains corn lti?l&sC to IVic, oats sVo to o ana provisions zc to 17 Vc. Rising prices 4:oday in wheat quickly as serted themselves despite colorless cables and a good deal of selling on the theory that a reaction was due after a series of astonishing upturns. It was pointed out. however, that Minneapolis stocks had been reduced to nearly 12,000,000 bushels under what was on hand a year ago, and that Du luth was expecting to move out 10,000,000 bushels soon find was said to have sold one million bufhels this morning for export. Re ports of a need of rain in the Ohio Valley counted against the bears and so also did complaints of dry soil conditions in South Dakota. Corn showed Independent strengtn. Do mestic cash demand appeared to have im proved to a notable extent, and It was con firmed that big export sales had been made at the seaboard. In oats, much of the business consisted of the selling of May against purchases of July. The market, as a whole, ranged mod erately higher in sympathy with other grain. What little selling was done in provisions came from longs. Shorts were kept off by the firmness of cereals and hogs. Leading futures ranged as follows: ' WHEAT. . Open. High. Low. $1.61 1.33 Close. $1.62 1.J6 May July ..$1.61, $1.62 .. 1.33 1.36 CORN. . . .75 .77 ..' .74 .79 OAT3. May .75 .78 .77 7H July May .. -.67 .. .56 .58 .57 .K7 .66 .57 -67 July MESS PORK. July Sept. . . .17.92 18.32 18.05 18.43 LARD. 10.40 10.63- 17.91 18.30 ls.eo 18.42 July 10.82 Sept. 10.60 10.8 2 10.60 10.37 10.62 SHORT RIBS. July 10.42 10.47 10.40) 10.45 10.72 Sept 10.67 10.75 10.67 Cash prices were: Wheat No. X red, $1.1V4: No. $1.611.63V4. 2 hard. Corn No. 3 yellow, 7777c; No. 4 white, 76&76e. Rye Nominal. Barley 73 's 81c Timothy ;6.35. Clover $8B13. Primary receipts Wheat. 456.000 vs. 0S.- 000 bushels; corn, 470.000 vs. 618.000 bush els; oats, 542,000 vs. 414.000 bushels. Shipments Wheat, 303,000 vs. 300.000 bushels; corn, 1.641.000 vs. 438.000 bushels; oats, 1, 121,000 vs. 92.000 bushels. Clearances Wheat, 779, uou nusnels; com, 34S.0O0 bushels; oats, 726,000 bushels; flour, 37,000 barrels. Foreign lira in Markets. LONDON. April 17. Cargoes on passage. IVid lower. Minneapolis - Grain Market. MINNEAPOLIS. April 17. Wheat. May $1.55Vi: July $1.52: No. 1 hard $1.62; No. 1 Northern $1.09 1.1 : No. 2 Northern $1.53(3,1.08. Barley 60 9 74c. Flax, $1.954j 1.97. Eastern Grain Markets. ST. LOUIS. April 17. Wheat closed May, $1.53; July, $1.24. KANSAS CITY. April 17. Wheat closed May, $1.52; July. $1.28. DULUTH. April 17. Wheat closed Mny. 11.59-: July, $1.58. 1 -1 N" I :!-,. Ann IT nrhaaf 1 n . . r( May, $1.68. ' Pnget Sound 4raln Markets. SEATTLE. April 17. Wheat, bluestem $1.32; fortyfold $1.29: club $1.28; fife $1.28: red Russian $1.22. Barley $25.75 per ton. Yesterday's car receipts: Wheat 10; oats l; corn l: nay 14; flour 7. TACOMA, April 17. Wheat, bluestem $1.30sfl.31; club $1.28: fort fold $1.29: red fife $1.27. Car receipts; Wheat 8; hay L SAN FRANCISCO PRODUCE MARKETS Prices Current- In the Bay City on Fruits, Vegetables. Etc. SAN FRANCISCO. April 17. Butter Fresh extras, 23c; prime firsts, 22c; fresh firsts, 21 c Eggs Fresh extras, 22c; fresh firsts. 18c: selected pullets, 19c. Cheese New, sriic; xoung Americas, 12c; Oregon, 14c Vegetables Peas, 2C4c; Summer squash. $11.25; string beans, 812e; wax. 6SMOC; hothouse cucumbers, $2.252.50; asparagus. $1.35(t 1.60. Onions California, 75c $1; Oregon, 90c & $L10. Fruit Lemons, $15003: Mexican limes, $45; oranges, $1.602.25: bananas, Ha waiian, $1.502.S5; pineapples, do, $23.50; apples, Newtown pippins, 50c$1.25; Oregon Reds. tl.SOjj' 2; other varieties, 40c 75c. Potatoes River Burbanks. $1.50 1.75; Oregon, $1.83 3; Idaho. $1.40 1.90; new, 2 4c. Receipts Flour. 2190 quarters; barley, 78. 655 centals; beans, 2191 sacks; potatoes, 2760 sacks; hay. 34U tons. Coffee Futures. NEW YORK, April 17. The coffee fu tures market opened irregular with prices 1 point lower to 2 points higher and only a small trade. Later the market worked off under big port receipts. May liquidation and scattered and local realizing, and closed rather easy at 2 to 4 points net decline. All other liabilities Sales, 10.00O bags. April, o.ssc: May, 5.98c; June, 6.05c: July. 7.14c: August. 7.22c; September, 7.31c; October, 7.36c: Novem ber. 7.41c; December, 7.47c; January, 7.52c; February, 7.57c; March, 7.63c. Spot steady; Rio, No. 7, 7c; Santos. No. 4, 10c. Rio exchange was unchanged and there was an advance of 75 re Is In the Rio mar ket, while Santos was unchanged. New York Sugar Market. - N ETW YORK. April 17. Raw sugar easy. Centrifugal. 4.89c; molasses sugar. 4.12c. Refined steady. Cotton Market. NEW YORK, April 1-. Spot cotton Mid. uplayids, 10.S5C. No sales. t STOCK TONE STRONG Anticipated Activity of Market Materializes. RESULT OF CONFIDENCE Wall Street Xow Discounting End of War Railroad Affairs Are Improving Steel Trade Outlook Good. Writing of the strength of the securities markets, as a result of the growth of con fidence, Henry Clews, the New York banker, says: The anticipated activity and strength of the stock market fully materialized. The general undertone on the Stock Exchange has been exceedingly strong, some prices reaching record levels, while a few receded under tho temptation to take handsome profits. The withdrawal of minimum prices left New York a free market, the only im portant free market in the world, and this of Itself had considerable to do with stimu lating activity. In some of the industrials, particularly those In receipt of war con tracts, there have been violent advances, which exposed the whole market to sudden reactions. On the other hand, a few of the industrials are feeling the effects of pro longed trade stagnation, which have already caused the reduction or passing of dividends. These unfavorable conditions have, however, exerted their full effect, and the market Is now chiefly occupied in discounting trade improvement and the approach of peace. To the lay mind, the war struggle seems to drag disappointingly on at Its western end, where the deadlock is evndently so obsti nate that neither party appears prepared to break it; whether, because of inability or from desire to evade the terrible cost of life involved. Is not yet apparent. At the east ern end, Russian successes, plus the activi ties of the allies at the Dardanelles, give nope for an early termination of the war. The moat sanguine opinion is that before the end of Summer we will see the end of the war. while the least optimistic fix Its cessa tion about the end of tho year. After Peace Is Restored. What the effects of peace will be once restored, it is difficult to measure. It means another period of readjustment to vastly changed conditions. Several of the belliger ents will have to face a period of severe exhaustion. First efforts win be confined to reconstruction work or the rebuilding of homes, factories and railways, as well as restoration of fields and highways to usable conditions. It Is quite possible that each of tne nations will show greater recuperative powers than at present anticipated Our own foreign trade has been more seriously disturbed by the war than is gen erally supposed. Imports are running stead ily behind, thus swelling the excess of ex ports. The latter would also have shrunken considerably had It not been for the largo "-i".ent" of too Products, war materials and the partial recovery in cotton shipments. "u 1118 even months ending January 31. these remarkable decreases occurred in our exports: Cotton. $275,000,000: machin ery. $64,000,000; steel products, $30,000 000 copper and manufactures thereof, $33,000, H!v,Alimber. and manufactures thereof, $32, 000.000; mineral oils, $14,000,000; engines and cars, $11,000,000: tobacco, $10.000 000; J? n?.k J7'000-00: electric machinery. $5,000,000. and cotton goods. 4. 000.000. These losses were almost entirely due to the war. They were partly offset during tne same period by Increases or $190 000 000 In breadstuffs, $24,000,000 in horses and mules. $l-i,000,00o In leather. $10,000,000 in wool manufactures and large shipments of war materials. A further idea of the effect of the war upon our foreign trade Is Illustrated by decreases of $215,000,000 In our exports to Germany, $20,000,000 to Belgium, $10.0o 000 to Russia, $11,000,000 to Austria un. gary and $38,000,000 to Canada, while our 10 ureal Britain increased $43, J$2'00"0Ot na-ly '000.0 nd to France War Orders Tet Infilled. At the moment export demands for grain and cotton appear to have reached their apex and are, temporarily at "least, on thu wane. This, of course, would tend to keep down the big foreign credit balance here and encourage more normal conditions In foreign exchange. At the same time tn latest reports from Washington show that during the week ending April 3 our ex ports Increased $37,000,000, while the Im ports decreased $35,000,000, leaving a trade balance for the week alone of over $21 - 000.000. It Is known also that orders have been placed In this country for fully 1.000.000 tons of steel products for export, which at a fair valuation would approximate about $30. 000,000. Heavy shipments in war materials are forthcoming, and these figures will have to enter into the International trade account. Another important item whlcn will have to be considered Is the annual remittances for tourists, usually estimated at about $200,000,000. This sum will not be sent abroad this year, but will remain at home, much of It to be distributed maonK American railroads, hotels and Summer re sorts. Further evidences are coming to the sur face that American railroad affairs have turned the corner for the better. Quite number of instances prove that earnings are making better reports and net results are more promising. This is true botn as to some of the Eastern properties and also as to lines running through the South, which were temporarily crippled by the backward cotton movement. Tne West ern roads have been materially aided by agricultural prosperity and the transcon tinental roads expect to benefit by the large travel which the Pacific Coast ex hibition will attract this year. Crop Outlook Is Factor, The effect of the Panama Canal upon the transcontinental roads has not yet been marked. It has caused some loss of traffic which, however. Is expected to be regained in other ways, particularly by local de velopment! of Pacific trade. American rnllroads are facing serious problems, not the least being the high rates of Interest which will have to be paid for all new financing; this is a result of the billions be ing borrowed by European belligerents. The Interstate Commerce Commission will have to take these facts Into consideration in their treatment of the railroads. The crop outlook is now beginning to be a factor of Importance. The Government has given out a report of the condition of Winter wheat at 88. S as against 88.3 In December and 95.6 a year ago. There has been, however, a large Increase In the acreage not only In the grain belt, but also in the South. A reduction in the cot ton acreage is anticipated, reliable estl m art en ranging from 10 to 15 per cent be low last year. General trade Is quiet, but now that Spring has fairly come, there Is reason to look for Improvement, in fact, the latest reports show that the turn in the current has already begun. In this connection the recent large dry goods failures reflect con ditions which belor.g to the past. The be lief in early peace, the Improved financial situation, the recent buoyancy In the stock market, the more reasonable attitude of legislation towards business all tend to Inspire, confidence In the future. Many persons have overlooked the fact that a number of industries are reaping abno, mal profits from war contracts. Our farm ing classes are also very prosperous. The steel trade future Is more promising. Each day the belief that we have turned the corner and are on the way to better times is strengthened; hence the present activ ity in stocks. Conditions are favorable to continuance of that activity, accompanied by sharp fluctuations, dependent upon the vicissitudes of war. LITTLE WHEAT LAND IDLE Ultimate Short Crop in Idaho Is Predicted by Dealers. LEWISTON. Idaho, April 17. (Soe- cial.) rThat there will be a minimum acreage of wheat land In Summer fal low lt the Inland Empire "the coming season and in 1916 resulting in Email crops the following? years, when wheat prices are expected to be low. is the belief of the leading grain men of Lewlston. The increase in acreage is estimated at from IS to 20 per cent. It is pre dicted that next year the came condi tions will exist. This will result ulti rnately in a short crop, it is pointed out. Fall wheat in this district is looking tine. ' I,ocal grain buyers have made a clean-up on white Winter barley and more than 1800 tons have been shipped. Truck Tires Free If the Goodyear S-V Does Not Outwear Any Other Thi3 is to settle Truck Tire claims in a quick and a final way. Arguments don't settle things, and com parisons are costly. For three months April, May and June we shall put S-V Truck Tires on as many wheels as you wish under this guarantee. This Amazing Warrant Equip opposite wheels, sit tha same- time, one with a Goodyear S-V, on with any other standard make tire of like rated size, bought in the open market. If the Goodyear S-V fails to cost leas per mile than the other, w will return you its full pur chase price, making the S V free. Get this guarantee in writing when you buy the tires. It will cover the life of them. Then you will know, be yond argument or question, which Truck Tire is best. A Million-Dollar Offer Unless the Goodyear S-V does excel, that three-month offer might easily cost us a million dollars or over. But we know to a certainty that, barring ac cidents, the S-V will win these tests. And the world will know, when the tests are ended, that Goodyear experts have solved the Truck Tire problems. Took 8 Years It took ui eight years to at tain this finality in Truck Tires. We built 29 types before reaching this one. and we built 74 models of this S-V type. Before mak ing this offer. GOODYEAR A en OHIO S -V Truck Tires we tested 5,000 of the perfected tires and com pared them with all other makes. That's how we know that you can't find a tire that will com pare with S-V's in low cost per mile. The S-V will win for these Distributors R. E. BLODGETT 29 North Fourteenth St. Portland Branch, 104 DEMAND ABOVE SUPPLY MOKE. SWIMS COULD BK ISKU OX LOCAL MARKET. Shera Sheep Are Bealnnias; to Arrive and Command Good Vrlvea. Cattle Barely Steady. There was no trading- at the stockyards yesterday. Only one small load was re ceived, consisting: of 52 hogs and 21 sheep, shipped In by C. E. Lucke, from Canby. The official weekly market report of the Portland Union Stockyards Company fol lows: "The receipts for the week have been: Cattle, 1C.7.7; calves, 31; hoes, 11TJ; sheep, 3340. 'Notwithstanding comparatively heavy runs or rattle the last few weeks, the mar ket has been sliKhtly lower to steadv. Choice steers are still selling; ST.r.o to S7.7.1 with other grades at the usual differential. "Demand for hogs seems to overrun the light supply of only fair grade of offerings. A few very good loads touched ths $7.tl5 spot Monday. Outlook steady. "Shorn sheep are beginning; to come to market and. although not strictly fat. are commanding very good prices. Special Eprlng lambs are lower, while other choice lambs are steady at S 75 to $! 2 for full wools; shearlings SI. 25 less. . Other sheep steady." The following sales are representative or the week's trading: Wght. Price. Wght. Trice. S4 steers. .112:; 57 5 cows 11.T1 t 121 steers.. 1142 T.42 21 cows 1241 S.r.O 7.S.-.I 2 cows 117.1 a 2.1 44 steers. .1 -"-'3 165 steers. .1002 1 bull 1411 1 heifer. .lO'J I 1 stsg. .v. 771 1 calf ISO 166 lamhs. . . .'.4 9 yearlings 72 T.2.-. I cows 1122 . 10 n.KO 121 hogs ITS 7.11.', .7.ll 22 hogs 21 1 7.'..'. fl.Oi2!0 hogs 1S4 7..10 7 7.-. en hogs.... 21 7.41 Mi 7 wethers.. 101 7m ft. .in 12 ewes 1.12 S Sr Prices current St the local stockyards on the various classes of stock: Best steers S7 2.1WT.71 Choice steers T.onfi 7.13 Medium steers 6".1'S7 00 Choice cows 6O06. r.O Medium cows r,.ool?.l71 Heifers n oons 2.1 Bulls ........................... ft. nnruft.no Stags 5.O0 a U. jo Hogs Light iin7.r,5 Heavy S.UIKi 8.4U Sheep Wethers T On ft. 2.1 Ewes 6 00(7(10 Lambs 7.2S&B.0U Omaha Livestock Market. SOUTH OMAHA. April 17. Hogs Ite celpts. 2400: higher. Heavy. $7.1597.30: light. T.25"iT H5; pigs, C.507; bulk of sales. $7.207.30. Cattle Receipts. 100; steady. Native steers. $6.758.40; cows and heifers, $5.35 &7.2r; Western steers, $6.501 7. SO; Texas steers, ftoerl.3ft; cows and heifers, . a 6.7.1: calves. 710. Sheep Receipts. 11)00: steadv. Yearlings. $3.50992,1; wethers, 17.238.50; lambs, $9.75510.25. Chicago Livestock Market. CHICAGO. April J7. Hogs Itecelpts. 7000; stronsr lOr above yesterday's average. Bulk. $7,3047.50: light, $7.217.65; mixed. $7.20 7.63; heavy, $8.00i&7.50; rough. $8,011 6 7.10: pigs, $rt'ir7. Cattle Receipts. 100; steady. Native beef steers. $rt. 20 & ft "5 : Western steers, S.1.A3 ?i'7-30: cows and heifers. $2-90&&.20; calves. $s.75 8.2.1. Sheep Receipts 10O0: weak. Sheep, $7.50 68.60; lambs. $3910.65 Metal Markets. NEW TORK, April 17. The metal mar- reasons: It gives you 20 per cent more available tread rub ber. It gives you a shape which ends bulging, breaking or ex cessive grind. It gives you a compound which saves undue frictiqn, taxing tire and power. It gives you a tire which can't creep. It is pressed on at a minimum of 50,000 pounds, without an auxiliary fastening. It gives you an inseparable tire. By a secret process, the tread, the backing and the rim are welded into lasting union. Accept this offer in fairness to yourself. It will show you a way to save many a dollar, or the S-V tires are free. Ask onr local branch to . tell you where these tires and this war rant can be had. r"S5) The Goodyear Tire 4 Rubber Coirpuny Urak -41-, Akron, Ohio Makers of Caedyear Avtesnebila Tire s W. M.ks DianiukU. Bisck. CsJii . Basasutic aaa Otasr Trass Track Tins North Fourteenth Street kM wer ciul-t. Klect rol 1 lc, I7j17Vc; canting. 1 J H 1 f. c Iron unchitnrd. Uululb IJnwl .Markrl. DUUTH, April IT. Linked ii IrM.k, SI !: to arrKe. l 'is- MM-. Sl.Dft; July, . (I. ; . Srpf iiibr, t'20i. OVERBECK & COOKE CO. Brokers. .Stock n, Honda. Cottoa, Orttin, itc. fl0-217 BOARD OF TRADE BLIKk. MMBKS CHICAGO BOAJLU Ok' TRADE. CrrepoBden(s f fican A Brytm, Chicago and New Yk. MEMBERS Vrw Tork Htork KxeUmngm ('titr-aic HI-, birhang II0M011 btfw-k kirhmiio ( bleasu Board of J raJ Nrw urk. Cotton Kxrhaag Nr Ort-tii utton F.i ha New Vork l oB fc.se !t mo Nrw York 1'rodnce KxoiiMiiao Ceaverpool CviUM Am 'a It's allia rrttinr them started rltht. CON KEY'S regulate and ? fc I Ktbenft tbescatttiv organ mad mi ; tk chuck thrifty mmd trmff. a I'au or r ' X ' - g" aUU iccu H i$ uw iiuig. C0KKETS STARTING FOOD f a wonderful aid ia getting' the chick start ed. Feed it "r to every brood you hatcU, Onr Hand Book on Patent. Tr de-M rk. etc.. en t tree. Patent procared throufk MnnaacCe. receive free notice ia the Scientific A eric. MUNFf A CO.. m WeeJwertt, Bldg.. N. T. WASHINGTON OFFICE: 127 f Su WiWiiw, . C. TR . VKI-E Hf (il IDE, NEW ZEALAND AUSTRALIA Via HOXOLILU and BCVA Palatial i'liMnier sttlm.rl ?CIAGAKA," iO.ooo tons dmplacemmt "MAKIKA. la, 000 tuns dlspiacsmeat Balling every tS days from Vancouver. H. C Apply Canadian facifia Hallway Co., 53 4 fct., Portland. Or., or to tbe Canadian An atralaniaa Moral Mail Llaa. o4 luwur .nc.ii.ir. a. C COOS BAY LINE teamer Breakwater Saflla Frew Alaatvorttt Dock, rort lfind. S A. M. Friday Krrlaht aad Tl-kt Office, Alnsnorlh Doik. Phones Main 300, A S:i:i2. City Ticket Office, RO lltk Street. I'honea Marshall 4'X, A lll tl. I'UKI1A.U &i COOS 11AY . B. LIM'.. BT -Ni. . . f' -.-. ilLvUi UIlII br bJli r Uc- va? i f f iwt-J tr&uppi tvx a v" 1 T . PORTLAND AND EVI3HYWHKRE. A