The Sunday Oregonian. (Portland, Ore.) 1881-current, May 02, 1915, SECTION TWO, Image 31

The Sunday Oregonian., May 02, 1915, SECTION TWO, Page 15, Image 31

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

About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (May 2, 1915)

Prev Page of 80 Next Prev Issue Next Text PDF JP2 (4.6 MB) Clip/Print Image

Return to Top

Prev Page of 80 Next Prev Issue Next

Newspaper Page Text13 1 THE SUNDAY OREGOXIAN, PORTLAND, MAY 3, 1915. I I 1 i PAPERS DRAWN OP Merchants' Exchange Votes to Incorporate. NEW RULES ARE POSTPONED Murket 1$ Inactive, 'With Kasier Tendency in Wheat) Kastem ' Buyers Would Resell Re cent Purchases. At a meting of the Merchants Kxchangre. Association yesterday It wan decided to In corporate the association under state laws. The papers have been drawn up and will be forwarded to Salem early this week. Pending this action It was voted to postpone the putting Into effect of the new rules governing trade In futures, which rules were to have become effective yesterday. The market was Inactive. As is uttual on Saturday, most of the members of the Kx . change forgot the meeting hour was 1 1 :'' ' A. M. and there was but a small attend . ance until after the final gong sounded. However, no one appeared to want .to buy wheat, nor were holders willing to cut prices to sell. Bids were lower on red wheats and fairly steady on white varieties. Feed grains were also neglected. There were reports of further inquiry from the East. Some of the dealers estimate sales ' of wheat to date for Eustern rail shipment as high as 400,000 to 500.000 bushels, not a very large quantity, but Important in view of the lightness of stocks In the Northwest. At the same time, certain Eastern and South ern buyers who were operating here recently, were yesterday seeking to sell back some of the wheat they had bought. Total Kjchanse sales for the week were 15.000 bushels of wheat, 500 tons of oats, 200 tons of barley and 100 tons of feed, the total value being S5S.425. A presidential decree of March 4, 1015, suspends the duty of 2 pesos per 100 kilos ($0.U64 per 100 pounds, with surtax) ou wheat flour imported into Chile. The period of exemption, is not to extend beyond June 30. 1913, according to the terms of a recent Chileaa law, empowering the executive to suspend or reduce until that date the Import duties on various foodstuffs. The Minuter of Public Works at Madrid has lust announced that he Is studying the manner ty which he can best obtain wheat In the tilted States for distribution among the Spartan agricultural syndicates for seed ing. Hf hopes to see American wheat, which. Danish experts regard as superior to other 'irietles and especially adapted to the citrate and soil of Spain, more widely grown that country. Term kal receipts, in cars, were reported by the erchants Exchange as follows: Wheat. Barley. Flour. Oats. Hay, Portlan I Sat.. 7 13 5!l 3 Year Wo . . 4 13 2:t 1803 1557 lo 25 37 lf1 2520 0 12 8005 22(7 17 U 8202 4727 Total thl week . 12 f.l 17!5 2552- Year ' 1 . . . . Season q date. 1574:1 ISliS 2401) Tear . . .10251 rl.. . 2 . . . . 12 Taeoina-' Ye Season tl late. R75S 882 420 ear Seattle. Year hurs. t ... : 2110 1011 fctCHBOIl t ite. 7471 f.41T HI5 1 1047 HIT 1101 ear EUtOP wit.i, TS r.r.u 51 ORE StGAR France in Pant Weelt Is Only Beginning. Buying In conktlon with tho report that France had boult 20,000 tons of refined sjgar In New yd. at a cost of about 52.000.OO0. which v4 responsible for the flurry In all the Amcan markets a few days af?o, a statemerjot the Federal Company says: In nttoly quarters the statement is defl- e that 20,000 tons have been sold As yet, we have not been able 1 this, but certain cables have ed here from Europe confirming to Fra to con been re the sta but no tient that such business was done, tjienttonlng the exact quantity of the purlse, - Certa the tin we seem to be getting closer to when both England and France will hao purchase refined sugar from us. and tits Is constant Inquiry from European interest The English stocks of sugar of all klnirn April 1 were 003.000 tons, and, with cfimption averaging 150,000 tons month would seem unsafe to let stocks run m under this. Last pr. under normal conditions, with sugar liable at short notice from the Contln the English stocks on the first of Ap ere ,107,000 tons. BIG jtOE IN SOUTHERN BERRIES Last Hmrnt of Season Arrives Prom l.os Angeles. TbesVas a liberal supply of strawberries n thtbarket yesterday and a good de mand bned up the street. Florins sold at It. 50 a S3 and Ios Angeles berries brought $1.15. lo further shipments will arlrve from I Angeles. Therus fruit markets are firm. Navels are rung heavily now to large sixes and sequence seedlings are being used more tensively. Thefd weather has retarded the growth at lodasparagus and Jobbers have found It neclry to bring up larger supplies from Caiifcf. The market, as a result of this. Is veJrm. Thist straight car of California Garnet Chile atocs arrived In fine condition. Old potati continued firm, although the de- , manras not as strong as earlier In the wcckl Bank Clearings. clearings of the Northwestern cities yestey were as follows: Clearings. Balances. Portl $ 1.4 75, S.iS $145,545 Seati 1.SM.4.-.6 2S0.414 Taoo 2-VS.S:t.1 37.IUJ Spokj 516. 2uo 40.SS8 Clhgs of Portland, Seattle and Tacoma for I past week and corresponding week In ffr years were: Portland. .$1o,64B,03T . . 12.1 56.734 . . II. 572, SOS . . ll.01,23:l . . 10,007.119 . . 10.247. 9M3 , . S,r!.-.7.7 . . 5.!)25,SD1 , . 7.717.0US . . 5, MIT, 71 7 . . '4.5M!.!02 Seattle Tacoma. IMS $10,404,210 $l.S01.f5 D14 12.3SS.702v 12.0S2.0S7 1 1.704. tirtS 10,25.13 11.41S.54S 10.4li9.T33 7.73S.nK3 .l:il).S22 8.S37.525 B.4.S:;8 4.O19.307 3.&IU.581 '.p:l,x-8 1913 2..S3S.S7U 4.173.140 4.245.000 B.24J.341 4.574. 154 4.1 St). 040 4.7s;,:i52 S,7S7.fl17 8.J1,3S1 2,OH2,505 1.S6S.701 iia i 1 101 19:. 107 . . , 1W . . . I'rtiK . .. nxxl-y 3. .".02.450 3.9S7.P.10 tg Prices) Ten din-c Hlcher. were very firm at the close of the wovpd receipts were readily taken for slol aocount The market has an up- watndency. i was only a small supply of poultry on street ana aressea meats were also sea Prices In both lines were steady. r uttr.r market was fairly active and stent unchanged quotation. Onion Sales Are Lighter. Northwestern markets are now well att with onions and there Is but little dt for Oregon stock. Only five ears wsold by the association In the past The selling price was unchanged. Small Demand for Hops. Is a moderate demand for spot Oi bops, but low prices are quoted by bJ A sale Involving lAt bales between c was alosed at 11 cents. The CO n ttlemand la limited. , Frolt and Stores Firm Pitas, ATCHEB. Willi.. May . ii. e was filed with the County Auditor yhay articles of incorporation for the nes lrrult & storage company. in iifrmtor are George C Jones, C. S. l.a V, Jt. Prowell, J. T. Brown and S. Miller, all of Wenatchee, and F. I., jl. of Cashmero. Mr. Jones will act 1 manager. The business of the .lvee Fruit & Storage Company will be i-ftad 1u the building at the loot of street, heretofore occupied by the tteo. Columbia Fruit Company. t'he y a 1 1 new organization w-ill do a general fruit and storage business, selling on an f. o. b. basis. Toledo Oct Minnesota Seed Torn. CENTRA LI A. Wash., May 1. (Special.) One hundred and fifty pounds of Minnesota seed corn has been secured by the Toledo State Bank for distribution In small quanti ties to the growers of Toledo who desire to grow corn for seed. . The seed secured by the bank was tested at the Washington Staie College and was the most promising of 60 varieties. c. (vain Aids Idaho Crops. GENESEE. Idaho, May 1. (Special.) A heavy rain Cell here for several hours, doing the country much good. The ground was getting dry and rain was needed. The Fall grain is nearly a foot hih, and from the re ports of many of the' farmers considerable grain will be harvested here In July. Pota toes are selling at (1.50 a hundred. Portland market quotations Grain, Flour, Feed, Etc. Merchants Exchange, forenoon session: Prompt delivery: . Wheat Bid. Ask. Bluestem $ 1.32 l.u;. forty-fold 1.1'7 1.30 l"lub 1.2 1.J3 Rod fife 1.23 l.SO Red Russian 1.17 Tl.:2- Oats No. 1 white feed S3. 00 31.00 Barley N'o. 1 feed 4.r,( .'ti.00 Bran ;M.-L'. 2G.t0 Shorts L'7.00 Futures June bluBtem l.:::t 1..l" June forty-fold l.JS 1.31 June club l.'JT 1.29 June red fife l.L'4 l.SO June Russian 1.17 1.-4 June oats :3.2." 34.-5 June barloy a4.0( . 50 June bran i.'i.OO 27. 00 June snorts 20. oo 28.00 FLOUR Patents, Jli.SO a barrel; straights, $6.25; whole wheat. S7; graham, SO. 80. M1LLFEED Spot prices: Bran. SJtl per ton; shorts, sus: rolled barley. $30(?r:n. CORN Whole, o5 per ton; cracked, f3o per ton. HAY Eastern Oregon timothv, $1415-; Valley timothy. 12i la.r0; grain hay. HQQ 12; alfalfa, $12.50013.50. - Fruits and Vegetables. Local Jobbing quotations: TROPICAL, FRUITS Oranges, navels, $-3.25 per box; lemons, $3,504? 4. 75 per box; bananas. 45c per pound; grapefruit, $4fr; pineapples, 7c per pound. VEGETABLES Cucumbers, hothouse, $l'!t,1.50 per dozen; artichokes, 75c dozen; tomatoes. $3 per crate; cabbage, 2"j3Kc per pound; celery, $3.50 4 per crate; cauli flower, 75c$1.25 per dozen; head lettuce, $2.25 -per crate; spinach. 5c per pound; rhu barb, 1 4i2c pes) pound; asparagus, 75c(?d $1.25 per dozen; eggplant, 25c per pound; peas, 7$78o per pound; beans, lQal'a pel pound., GREEN FRUITS Strawberries, $l.lSt per crate; appleH. $11.75 per box; cranber ries, $11012 per barrel: gooseberries, 78c per pound; cherries, $2.25 per box. POTATOES Old. $1.75 2.00 per sack; new. 6' 7c per pound. ONIONS Oregon, selling price, 75c per sack, country points; California, jobbing price, yellow, $1.75: white. $2.25 per crate. SACK VEGETABLES Carrots. $1.50 per sack; beets, $1.50 per sack; parsnips, $1.25 per sack; turnips, $11.50 per sack. Dairy and Country Produce. Local jobbing quotations: EGGS Fresh Oregon ranch, case count, loc per dozen. POULTRY Hens. 14c; broilers, 2530c; fryers. 1820c; turkeys, dressed. 2224c; live. IS 20c; ducks, 10 4pl3c; geese. S&ac. BUTTER Creamery, prints, extras, 25c per pound In caee lots; c more In less than case lots; cubes, 21 22c. CHEESE Oregon triplets, jobbers buying price, 14c per pound f. o. b. dock. Port land; Young Americas. 13c per pound. VEAL Fancy lOftiHc per pound. PORK Block. 10(g) 10 1,40 per pound.J Staple Groceries. Local Jobbing quotations: SALMON Columbia River one - pound talis, $2.30 per dozen; half-pound flats, $1.50; one-pound flats, $2.50; Alaska pink, one-pound tails, $l.t)5. HONEY Choice, $8.25 per case. NUTS Walnuts. 1524c per pound: Bra zil nuts, 15c; filberts, I424c; almonds, 23 (a1 24c; peanuts, 6ic; cocoanuta, $1 per dozen; pecans,. 1920c; chestnuts. lOc. BEANS Small white,- 6c: large white, 60; Lima, Uc: bayou, ec. COFFEE Roasted. In drums. 31 H 3SM: C" SUGAR Fruit and berry $0.80; beet, $6.6oj extra C. $6.30; powdered, in barrels, $7.05; cubes, barrels, $7.20. . SALT Granulated, $15.50 per ton; hall ground. 100s. $10.75 per ton; 00s. $11.50 per ton: dairy. $14 per ton. RICE Southern head, 6a6Sic; broken, 4c per pound: Japan style, Odl'o&c. DRIED FRUITS Apples. 80 per pound; apricois, 1315c: peaches, 8c; prunes, Ital ians. 8&'9c; raisins, loose Muscatels, 8c; un bleached Sultans. 7Hc; seeded, uc; dates. Persian. 10c per pound; fard, $1.05 per box; currants, 8ipl2c. Hops. Wool. Hides, Etr. HOPS 1914 crop, 11c; contracts, 11c per pound. HIDES Salted hides. 14c: salted kip. 14c: salted calf. ISc; green hides, 13c: green kip, 14c; green calf, ISc; dry .hides 24o: dry calf, 26e. WOOL Eastern Oregon, medium, 2520e: Eastern Oregon, fine, 18 18c; Valley. 23 MOHAIR New clip, 82 H 38c per pound. CASCARA BARK Old and new, 4ft4VsC per pound. PELTS Dry long-wooled pelts. 15c; dry short-wooled pelts. 12c; dry shearlings, each, 10c; salted shearlings, each. 15(ia25c; dry goat, long hair, each, 13c: dry goat, shear lings, each, 10 13120c: salted long wool pelts May, $12 each. Provisions. HAMS All sizes, 17H18Vic; skinned, 17 lSc; picnic. 12c; cottage roll. 13 '4 c; broiled. 19 28c. BACpX Fancy, 272Sc: standard, 230 24c: choice. 17Hf,;"c; strips, 17Ao. DRY SALT Short, clear backs, 13154e; exports. lU'v.; plates, ll',ilM3c. LARD Tierce basis; Kettle 'rendered. 1 2 "vi c : standard. 12c; compound. 8ie "BARREL GOODS Mess beef, 23c; plate beef, $24.50; brisket pork, $28.50; pickled pigs' feet, $12.00; tripe, $9.50 11.60; tongues, $25 IS 80. Oils. KEROSENE Water white, drums, barrels or tank wagons 10c: special drums or bar rels. 13Ar; cases, 7 A 20 4 c. GASOLINE Bulk, 12c; cases. 19c; engine distillate, drums. 7 He: cases, 7 '4c; naphtha, drums, 11c; canes, 18c. LINSEED OIL Raw. barrels. 75c; raw. cases, 80c; boiled, barrels, 77c; boiled, cases. 82c. TURPENTINE In tanks, 60c; in casea 67c; 10-case lots, lc less. 8.W FRANCISCO PRODUCE MARKETS Prices Current In the Bay City -on Fruits, Vegetables, Etc. SAN FRANCISCO, May 1. Butter Fresh extras. 2$Vsc; prime firsts. 32Ho; fresh firsts, 22c Eggs Fresh extras. 22 c : fresh firsts. 20c; selected pullets. 19c; seconds, 18c. cneese New. sqpiic; Young Americas, ICc; Oregons. 14c. Vegetables Hothouse cucumbers, 50 if? 65c; asparagus, $1.35 V2.25 ; string beans, 57c; wax tieans, Sfn'nc; peas. 2fi4c: eelerv. $11.75; Summer squash. 6016 75c. Onions California, ?0c3$l; Oregon, 80 90c. Fruit Lemons. $1.60 gS; Mexican limes, M5. grape fruit, $1.251.75; oranges, $1.B52.50; bananas. Hawaiian, $l.S02.Ii; pineapples, Hawaiian, 45o per pound; ap ples, Pippins, sOcSl.lo; Oregon reds, $1.60 &f. other stock. 409 75c. Potatoes Oregon. $1.5001.83; Idaho. $1.60 &2; new. 2&2'c; Lompocs. $22.25; sweets. $1.75(1.00. Receipts Flour. 382S quarters; barley, 0027 centals; potatoes, 2333 sacks; hay, 690 tons. Coffee) Futures. ( . NEW YORK. Mar 1. The market for sof ten futures opened dull at a deHlne of two points under scattered liquidntlon. Business Improved after the first hour, and on Wall street trade Interests buying, there was a rauy near the close whl.rh left final prices unchanged to six points higher. Sales. 12.- 5oo bags. My, fl.ir.e; June, 6.2.".u: July. 7.42c; August. 7.4Ae; Soptember, 7.50c; Octo- oer. (.mo; jNovemner T.oc; December, T.Hlo; January. 7.67c; February, 7.73c J March, 7.7'c: April. 7.82n. Spot steady, Rio, Ne. T. 74e; Pantos. No. 4, inc. There was a decline of 75 rels In the Rio market. Wool Pair. LONDOK, May 1, Tns offerings at the wool aurtion sales today amounted te 16, Boo bales. The aMortmenfr vvas i good condi tion, and there wa a HUadr demand for the best graded of merino and Una ci-obs-1 reds from the home trade and oecafionally France, but Americans wi-re quit. Medium and inferior croas-breds declined lo per cent, and they were frequently withdrawn. Dried Fruit at New York. NEW YORK. May 1. Evaporated apples quiet. Prunes inactive. Peaches dull. F.lsrin Batter Market. ELGIN, 111.. May 1. Butter lower; 160 tuba sold at 2Sc. WAR STOCKS ACTIVE Largest Part of Trading Is in "Contract" Shares. WESTINGHOUSE IS FEATURE Studebakcr Is Strongest of Motor Group Steel Only Speculative Kuvorlte to Maintain Steadi- -ness Bond Market Revives. N1SW YORK. Mav 1. In its main aspects today's short session of the stock exchange was largely a repetition of recent days, in the sense that a very considerable part of the turnover again was in so-cailed war st..cks and allleu snares. Westlnghouse and others in that class constituted the most prominent features. Studebaker was strong, est in the motor group, with a new high record on rumors of dividend prospects. Standard stocks were neglected through out and for the most part fell under yes terday's lowest quotations, though showing some betterment at the close. United States Steel was the only one of the speculative favorites to show relutive ' steadiness, rising to Its best In the final dealings. ' The market was more than an ordinarily professional- affair, much of the trading, whicti exceeded a half million shares, rep resenting week-end settlements of outstand ing contracts. The course of prices from time to time suggested a renewal of bearish operations In some of the more vulnerable issues. General news of the day. which dealt with Improved conditions In many lines of trade, particularly textiles and steel, together with latest war developments, played little if any part in the day's operations. The bank statement was In line with ex pectations, showing a large actual cash gain, with an expansion of over $30,000,000 in loans, the latter a natural reflection of tni week's activity in the stock market. Total sales of stocks amounted to 508,000 shares. The bond market was even more Irregular than the stock list, on a minimum of trad ing. Total sales, par value, aggregated $2,250,000. United States coupon and regis tered 28. and Panama 3s declined '4 Per cent on call during the week. CLOSING STOCK QUOTATIONS. Closing Sales. Alaska Gold 1.400 Amal Copper.. J9.!oo Am Beet Sugar. 1,000 American Con.. 21.4O0 Am Sm & Refg. 2.500 do pfd ...... High. 39 77 30. 44 78 i 112',, 122 230 36 Ti 102 77 00 "A 18 166 41 47 12T4 OH "47' " 33 Low. bid. 89 t 73 4 40 42 V4 7214 iii' " 122 230 36 1024 77 1XH 17 H 1644 8 43 Vi 124 05 ! '40 ' 8214 38 '4 73 4 43 73 107 111 122 235 36 102 77 90 17 1 65 40 46 J2 95 'a 129 46fK 32 29 72 15 15 28 160 1204, 36 62 110 71 33 100 irt 143 120 86 26 6, 13 15 120 89 15 88 7 103 10O 324 108 23 151 30 0 92 18 34 13S 131 8 rn 110 69 S 68 103 Am Sug Refg... 2,200 Am Tel & Tel. . Amer Tobacco.. Anaconda Min.. Atchison Bait & Ohio. . . . Br Rap Transit. Cal Petroleum.. Canadian Pac. . 1.0O0 BOO 2,000 600 2.200 ' i'.ioo 3.000 Central Leather 10.700 Ches & Ohio. . . . 1,400 Ch. Cr West 200 Chi Mil & St P. 1.100 Chi & N W Chino Copper. . . Colo F & Iron. . Colo & South... D & R G do ptd Dlst Securities. . Erie Gen Electric .... Or North pfd . . Gr Nor Ore ctfs Guggenheim Ex. Illinois Central. Inter-Met pfd.. Inspiration Cop. Inter Harvester. K C Southern.. Lehigh Valley.. Louis & Nash.. 5.000 1.200 4.300 7.700 5.100 200 3,400 2,500 V,70f 5,400 ' V.OOO l.OOO 1H 28 : 161 a 120 37 'i t!2U 15 U -'8 151) 121 364 61 "714 33 26 '4 143 'in' ' 20 13 14 121 I8 15 87 105',, 10 23 108 23 150 ' 30 t 't)-j 1S 34 iii ii 28", 143 'in' " li 'i 15"-i 12US 705, 16 8S54 67 U 1 05 "ii 110 23 100 24 '4 Mex Petroleum. 9.700 Miami Copper.. 3,300 M K i- T 1.1 OO Missouri Pacific 9.000 National Biscuit 200 National Lead. 10.500 Nevada Conner. .400 N Y Central... N Y. N H & H. N .& Western . . Nor Pacific... Pacific Mail .... Pac Tel & Tel. Pennsylvania .. Ray Cons Cop.. Reading Rep I & Steel. . . Rock Isl Co.... do pfd StL&SF 2d pfd. South Pacific South Ry Tennessee Cop.. Texas Co Union Pacific... dd pfd U S Steel do pfd ...... Utah Copper... Wabash pfd ... Western Union. Westing Elec. .. 2,300 1 .200 400 POO 400 V.266 5.700 10.7OO 151 s.eoo aii i.eoo 1.600 1.700 1,800 1,100 3 'a 181. 34 ?; 7,800 132 61,100 59 58 S00 110 10!) 76.400 69 67 1.000 3 3 1 00 60 68 59,5M) 106 - 103 400 53 53 Montana Power. Total sales for the day, 508.000 shares. BONDS. U S Ref 2s. reg. 9 Nor Pac 3s 65 do coupon.... $S do 4s 92 U S 3s. reg 101IUnlon Pac 4s... 40 do coupon. .. .101 So Pac Conv 3s. 101 U S N 4s. reg. .10Ole. M & S P 5s.. 104 do coupon. .. .110. Penna Conv 4s.l04 " N Y C G 3s.. SOHl Money, Kxchange, Etc. NEW YORK. May 1. Mercantile paper, 3(&-3 per cent. Sterling exchange, easier: 60-dav bills, $4.6750; for cables, $1.7960; for demand. $4.7920. Bar silver. COHc. Mexican dollars, 38e. Government bonds, steady; railroad bonds. Irregular. SAN FRANCISCO, May 1. Drafts, sight, 2c; do telegraph, 4c. Sterling on London, 60 days, $4.76; demand, $4.70; cable. $4.79. LONDON. May 1. Bar silver. 23 13-10d per ounce. Money, 1lii per cent. Dis count rates Short bills, 2 per cent; three months, 22 15-16 per cent. INCREASE - IN LOANS IS LARGE New York Banks Surplus Is Decreased . During Week. NEW YORK. May 1. The statement of the actual condition of clearing-house banks and trust companies shows that they hold $170,180,370 reserve in excess of legal re quirements. This Is a decrease of $S54.500 from last week. The statement follows: Increase. Loans, etc .....$2,430,593,000 $30,504,000 t Reserve in own , vaults 424,497.000 7.831,000 Reserve in Federal Reserve banks . - 121.334,000 "lOe.OOO Reserve in other depositories .... ' tOSS.OOO 1,443.000 Net demand de posits 2.348.330.000 39 794 Onn Net time deposits. 127, 325. (KK) 3.604.0OO Circulation 37.863,000 65.000 Decrease. tOf whirh S35O.5.-.7.00O is specie. Aggregate reserve. $576,069,000: excess re serve. 1170.1S0.370: decrease. $854,500. Summary of state banks and trust compa nies In Greater New York, not Included In clearing-house statement: Decrease Loans, etc $369,837,000 $ 521 100 Specie 45.137, SOO 2R6.10O Legal tenders 0,414,000 - Ort 000 Total deposits 702.7O5,Ot0 5,918,100 Increase. Banks' cash reserve in vaults, $10,818,109; trust companies' cash reserve In vaults. $43. 739,600. REVIVAL IN BOND M.1RKCT. April Turnover Is Large for Any Month &lnre December, 1909. NEW TORK. May 1. Speculative tenden cies in stocks revived during the week, but with prudence and restraint towards the end of that period. War orders again were the main incitement, but to this Influence was added the conclusive evidence of the Im proved Investment conditions and the bene fits thus promised by supplying capital needs. The most striking example was the con summation of New York Central's sale of $100,000,000 of debenture bonds, tiie largest Issue of corporate securities ever placed lu the United States. QuUik sale of Baltimore Ohio's $40,000,000 of 4 per cent notes proved the abundant resources of the money market. Announcement of several long deferral railroad reorganiastion plans was takna as additional evidence of the increased facili ties of oapltal. The recent course of bank loans slso was taken to prove a process of absorption of previous . underwriting of bonds. The bond market revival the April turn over was the largest for any month since December of 1909 is one of the most sig nificant erpressions, of financial confidence yet manifested. Free offerings from abread of both bonds and stocks were readily taken here. These and further exports of gold made little Im pression on depressed foreign exchange rates. Active negotiations continued for additional foreign credits in this market. Steel trade reports were hopeful and con fident In the main, although actual expan sion In demand is admittedly moderate. United States Steel's Vapidly expanding earn ings in the successive months of the first quarter were made grounds for these hopes. The excellent wheat crop prospect was marred by deficient moisture for the East. CHANGES FOR WEEK ARE SMALL Federal Bank Statement Shows Slight Gains and Losses. WASHINGTON. Mav 1. The Federal Re serve Bank statement for the week ending apni 30 snows little change. It follows: Resources Gold coin and certificates $238228.000 Legal tender notes, eilver cer tificates and subsidiary coin.. 26.518,000 Total $264,746,000 Bins discounted and loans Maturities within 3 days $16,738,000 Maturities within 00 days i-.".vi.il Other 7. 79O.000 Total 38.58.OOo investments $ 2.i.4,ooo Due from other Federal Reserve Banks, items In transit 9.46.0OO AM other resources 1 1,334. 0OO Totsl resources S47.6O3.000 Liabilities Capital paid in $ 39.669.000 Reserve deposits 294,832,000 Federal Reserve notes in circula tion , ll.O38.0O0 All other liabilities 2.064,000 Total liabilities $347,603,000 Gold reserve against net liabilities after setting aside 40 per cent gold reserve against net a-mount of Federal Reserve notes in cir culation 91.2 per cent. CATTLE DEMAND IS GOOD CHOICE STEERS ARE TAKEN Pl'LL PRICES. AT I Best Light Hobs Sell Readily at Stock yard Sheep Supplies Are -. Scarce. The week wound up with a Quiet -market at the Stockyards and no material changes in prices. Receipts were 246 hogs and 66 sheep. The shippers were: John Barger. Washtucna. 1 car hogs and sheep; C E. -Cucke. Canby. 1 car hogs and sheep; F. B. Decker, Gervals, 1 car hogs. The day's sales were as follows: Wt. Price. I S cows .... 935 $5.6()j 8 hogs 2 cows .... 740 4.75, 4 hogs . 2 cows .... 904 4.00 3 hogs . 81 hoars 164 7.9UI17 bucks Wt. Prlc . 132 $7.40 . 224 7.4) . '30 7.90 1 54 3. 23 The official weekly market report of the Portland Union Stockyards Company follows: "The receipts for the week have been: Cattle, . 1267; calves, 24; hogs. ,2570; sheep, 3390. "Where the offerings In the cattle division were heavy the opening of this week the demand was also heavy. Cattle clung to the high price spot throughout the week. Choice steers are quoted at $7.50 to $7.7$; cows, $6.23 to $6.65. "Monday opened up with another gain In the swine division, prices going from $7.85, last week's top. to $8.05. making an advance of 20 cents, all told. Demand excellent for choice light hogs. "Sheep mrrket holding firm. Spring lambs sold at $8.75 to $9, ewes $5.50 to $5.75, yearlings. A $6.75 to $7. Packers are still short of supplies. "The following sales are representative of the week's trade: Wt. Price ! Wt. Price. .1211 $6 40 .104.1 6.25 11 steers. 26 steers . 50 steers . 92 steers . 1 bull ... 1 stag . . 1 heli'cr . 1 calf 1202 $7.75 17 cows ... 1161 7.651 3 cows .. . . 12.'.'3 . 1 1 5 .12K1 .1511' .1161 . 261 ,1275 7.451260 hogs .. . 7.2."i.l . hogs . . . 4.25!i30 hogs ... 6.0O;lS4 hogs . . 6.23 1545 s. lambs 8.00 4OO y'rllngs. 207 21 1 18.1 161 51 8. 0 8.00 7 95 7.!o4 9.O0 7. B0 6 75 76 2 cows . 6 cows . 6.751 78 wethers. 10U 1181 6.65 45 ewes . . . 101 6.75 Prices current at the local stockyards on the various classes of stock: Best steers Choice steers Medium steers Choice cows Medium sows Heifers Bulla Stags Hogs Light Heavy Sheep Sheared wethers ......... Sheared ewes Sheared lambs Full wools $1 higher. ... .$7 r.O-9T.7S . ... 7.00-1-7.23 .... 6.75 fe 7 00 . . . . n.25 it .. .... 0OOitJf5.75 .... 5.006.25 .... 4.00&5.73 .... 6.00 ii 6.00 . ... 7.0097.P0 . ... 6.OO1&6.UO .... 8. 50 7. 00 .... 4.0098.76 .... 6.25 7.75 Omaha Livestock Market. SOUTH OMAHA. May 1. Hogs Receipts. 12,500. Lower. Heavy. $7.20 0 7.35: light. $7,304? 7.40; pigs, $0.507.25: bulk of sales, $7.25 07.33. Cattle Receipts. 100. Steady. Native steers, $78.60; cows and heifers. $5.50ttp 7.50; Western steers. $6.50(7.80; Texas steers. $6ra7.30; cows and heit'ers, $5.3547; calves, $810. Sheep Receipts. 1500. Steady. Yearlings. $8.70110.30; wethers. $7,756 8.60; lambs, $10 & 10.30. Chicago Livestock Market. CHICAGO, May 1. Hogs Receipts 11.000. Plow, ,rc under yesterday's average. Bulk. $7.50t7.7O; light. $7.40'!7.75; mixed. $7.40 -B-7.80: heavy. $7.10"S 7.70; rough. $7.10 7.25: pigs. $3.25(6 7.10. Cattle Roceipts. 200. Steady. Native beef steers $6.15S.75; Western steers, $5.60 ra7.40; cows and heifers $3.108.50; calves, $Bi 8.75. Sheep Receipts, 2000. Steady. Sheen, $7.40-08.40; lambs. $8.25010.75. IS'aval Stores. SAVANNAH. May 1. Turpentine firm 43 c. Salej 252, receipts 421, shipment? 531. stocks 20,161. Rosin, firm; sales, none. Receipts 1.245, shipments 2951, stocks 73.50S. Quote: B $3. SO. L $3.40, E :..4r., F $3.55, O $3.65. H. I $3.73. K S3. 85. M 4.20 3 4.43. N $5.15. WO $5.635.70, WW 5.80. Meial Markets NEW YORK. May 1 . The general mar ket for metals wasdull and nominal. Copper continued firm. Electrolytic, 19c; caBting, 18 c. Iron unchanged. New York Markets. NEW YORK, May 1. Flour firmly held. Hops. beef, tallow end molasses quiet. Hides, pork, rosin, rice steady. Wool firm. Domestic fleece, XX Ohio, S233c. Chicago Dairy Produce. ' CHICAGO. May 1. Butter Unchanged. Eggs Unsettled. Receipts, 42.766 cases; at mark, cases included, 17(14 18c; ordinary firsts, 17e17c; firsts, 184j.l8c. Holiday at London. .LONDON. May-1. Holiday on Stock Ex change today. VALLEY ROADS EXCELLENT Motoristtj. Make Fast -Time to Eugene Over Dragged Highways. KUGKNK, Or.. May 1. (Special.) The liberal use of road drags has placed the Upper 'U'lnamette Valley roads in better condition this Spring; than they have been for years. accord In? to local motorists. This la espe cially true with roads between Eugene and Portland, making possible in sev eral instances time equalins; that of the trains. Harry Hays, of Portland, drove to Eufrene this week in five hours and 10 minutes, and William Seavej. of Eugrene. drove from Portland here in four hours and 35 minutes. "The road between Kuprene and Port land Is better now than I have ever seen it before." said W. H. Fenton, of the Buick garage, today. Lower Hates Kffectlve May 2 5. KLAMATH. FALLS. Or., May 1. (Spe cial.) Word has Just- been received hero that the new Southern Pucific tariff on box shooks between Algroma, Klamath Falls, Hilt and other South ern Oregon polnta and 6ncrametito, will become effective May 25. At presont tho rate frown this city to Sacramento is $4.10 a ton; the new rate will be $2.15 a ton, Similar cuts have been made from other points on thli line of the Southern Farlflc, 'With lliesa new rates in effect, Klamath factories v.ill te better able to compete with t!i Ited River Lumber Company, whose big plant is located at, Weatwood, on the new SuRanviile line ef the t nut hern racifia. NEEDED EAST Wheat Crop Reports Are of Bullish Character. CHICAGO MARKET STRONG Prospects of Large Shipments From Middfe West to Atlantic Sea board and Decreasing Sup plies Are Factors. CHICAGO. May 1. Although deliveries on May contracts proved to be heavier than looked for. the wheat market today scored an advance, helped by the fact that the de liveries went Into strong hands and that Btocks promlsea a falling off. The close was nervous at 4c to lc above last night. Corn gained He to HQIc net, oats c to lSl"4c and provisions Sc to l.V. Kapidly decreasing supplies Northwest and a prospect of large shipments to the Kftflt rrom Chicago had a good deal to do witn developing bullish sentiment regarding wheat. Need of rain east of the Mississippi continued to act as a discouragement for wheat bears. Home authorities asserted the crop would go 10 days more without dam age, but others maintained that unless ade quate moisture came soon the result would be lowered conditions and disappointing yields at harvest. Corn dlsulaved strength from the outset. Notwithstanding that warehouse tenders of oats amounted to 8. 000,000 bushels, as much as for wheat and corn together. Pit offerings of oats were quickly ab sorbed, with more wanted. Foreign demand was reported good. Deliveries of provisions were not as large as expected. In consequence the market hardened regardless of a decline in the price of hogs. Leading futures ranged as follows: WHEAT. Open. High. Low. Close. May 1.1 $1.64 $1.61 $1.62 July 1.3 l.71i l.S44 1.37 CORN'. May 76-i .78 76"4 .77 July 79;. -SOT, ,79H .80 OAT3. May 54 Vi .4U , July Hh .06 'A -64 h .t'M MESS PORK. July IS. 17 lg.IS 181 15. !5 Bept 1S.60 18.70 18.67 18.70 LARD. Julv 10.35 10.42 10.SS 10.42 Sept 10.57 1&.S7 10.67 10.63 SHORT RIES. July 10.GO 10.7 10.60 10.87 Sept. 10.KO 10.95 10.87 10.95 Cash prices were: Wheat No. 5 red, 1.S1.63H; No. hard. ll.Hfl.sin. Corn No. 2 yellow. 781074c: Nk. 4 yellow, 77Vi78c; No. 4 white, 7Sc. Rye Nominal. Barley "SSSOc. Timothy 85.50 $.50. Clover $S.50gl3. y . Foreign Grain Markets. PARIS. May 1. Wheat M higher. Flour unchanged. Minneapolis Cirain Market. MINNEAPOLIS'. May 1. Wheat May, $l..-.!; July, fl.. Cash. No 1 hfird; l.o."'A: No. 1 northern, $l.til &l.5o; No. i northern. $ 1 ..17 a 1 At. Klax. $1.0414!. Wo'i. Barley. 05 a 7 4c. Ka stern Grain Markets. WINNIPEG, May 1. May, $1.61; July, $1.81. KANSAS CITT. May 1. July. $127 ,. Cirain at Ban Francisco. KAN FRANCISCO, Mav 1. Spot quota tions. Walla Walla, $.' 'JOS 2.20; red Rus sian. 2.2oi 2.2r; Turkoy red. sj..i j.ju. hi,,...i.m 9 .r,to2.S0: feed barley. $1.27V4'& 1 30'; whits oats, 81.77 '.j (S 1.80: bran, $260 Jii.riO; middlings. $32uj: shorts. .u0 fall Board Wheat steady. Barley steady. December $1.31',: May. 81.24H. Puget Sound Grain Markets. SEATTLE. May 1. Wheat Bluestem. i a-'- rnnvtnlil. S1.2S: club. Sl.'JA: fife. $L28; red Russian. $1.20. Barley, $25 per ton. yesterday s car receipts: w ncai, i, oats, 3; bay, 11; flour, 4. TACOMA. May 1. Wheat Bluestem. l:i2; fortyfold. $1.29; club. $1.2a; red flte. tl.-JS. Car receipts: Wheat, 2;. corn, 1; hay " PROSPERITY IS ON WAY SIGXS OK IMPKOVKMKXT ARE MORK MMEHOIS. ReconstructtTe Force Are Steadily Work la ThU Country Pare Strlngr ft LooseBcd. An v,t t.iwtir- view of the future li taken by Henry Clews, Uie New York banker, who writes: , Reconstruetiva forces are steadily at work. Thla 1 noticeable In many directions; and WmI siri.Ht' leaders with sure instinct ana even surer know led tf have been discounting; industrial recovery. For the very decided change from despair to oouras which phs taKen place since Jan uary, many rensons have been advanced; rhief of these bein, as rpeau-dly stated In iiiovo n H v it-ssuriud hostility to biK biisl- nes. tho sucrosf ui establishment of the I-erieral resrvw system, i ne bujuimiiii i our finances to a war banis and a growing; bflier that the end of the war is not far distant. The -war will pne a favorable factor In keninr' the extravagant American people at home this Summer, thereby preventing about millions from neingr spent in urope m etead of this country, the effect of which will be .vastly important. To su-h favorable conditions as these must now be added the proved so'indnesb of busineas In the I'nlted Stales and the wide prepwredn to respond to any new and encouraging influences. Oeneral business aiready shows po-sitive im nrovement: slisht it mav be. but real never theless; and there are excellent reasons for anticipating i,B foiitinuav-ce. The country has been through a prolonged period of severe economy. This economy was greatly Intensified by fear of serious consequences following the war, Kvery I u sin ess man upon whom Initiative depends knows to his sorrow what a deter rent f net or apprchprwlon has been In the last few months. Many people, particularly the w el I -to-do. have economised more than was necessary; the result being; Increased savings which must now come out either In the investments or larger purchases ot some sort. - When the purse strings are loosened and the numbiT of unemployed Is decreased, all kinds of merchRndlae must pas more freely into consumption; hence one uiuFt look for a better distribution in the retail trade. Already there are lgns of Improvement among the great department stores In all parts of the country. Textile Industry ;lnlng. Our immense textile Industry is exhibit ing a pronounced gain lit confidence, and cotton manufacturers are often refusing to sell ahead, while prices are firm and col lections better. The same remark. apply to woolen -roods, which are bMng materially helped by orders for foreign arm les. A 45o.uuo.OnO auction sale of carpets this week was surpritinglv successful. The wholeaale grocery trade. wh!cli covers practically all food products except meats. 1s In excellent condition and collections a te sat itf actorv. In the steel industry, which must stPl be accepted as a first-class barometer, there are derided symptoms of coming activity. Domestic orders are being placed with mor freedom and prices show a persistent hard ening tendency. Our railroads have not j-et placed orders with any freedom for the reason that traffic is si 111 below normal. Nevertheless, a re sumption of trade must mean an Increase of traffic, and as this develops the placing of a large, mass of deferred orders for rails and equipment must be expected as a result of a prolonged period of rigid economy. Our railroads have fairly turned the cor ner; they ere likely to be less harried In the future, and with the better rates now allowed, any a-alns In the volume of traffic must .have a decided effect upon net re sults. Moreover, a heavy Increase fn Sum mer travel la to be anticipated this year, owing to the stoppage of European tourist travel by the war. i Jt 1 too early to form any opinion of agricultural prospects, but the situation 1s such as to stimulate farmers into the largest product possible; the liberal demand ana good prioes for all food products leaving the American farmer In a decidedly envi able position. Kor .another season he Is RAIN reasonably certain 'of good home and for eign demands at satisfactory prices. Effect of War on Forelara Trade. The war continues to be a vital factor in our foreign trade. It caused heavy losses during the first oight months, such as SIM.V 000.0O0 in cotton, $00,000,000 in Iron and steel. I3S.0O0.0OO In copper, S3ti.0O0.0OO In lumber products. !,OOO.ooo n agricultural Implements, etc. These losses were partially offset by 7" ins of $24H. 000.000 in bread stuffs, sjno.OOO.OOn In horses and mules. 18,000,000 in sugar,-$19,000,000 In leather, etc. We have now reached a season when ship ments In grain and cotton are naturally light; but shipments of war materials on orders placed months ago are now coming forward more freely, and for the- next few months will prove a highly important factor in our International trade balance. The Russian government alone arranged for an order for $S3, OOO.uOO w orth of w ar materUl this week through a Canadian concern, a large portion of which will b executed in the United States. The British and French governments are also ordering materials upon a very extensive scale; and Italy, which has been a heavy buyer, is likely to largely Increase her purchases should she eventually come Into the war, as seems not Improbable. The returns for March showed a decrease of $U.rOQ.OOO In lmoorts and an Inrraio of $111.00,000 in exports; the lattrr amounting to -'9,oM,ouu, a new high record i"r jiarcn. j ne net result was an excess of ex port s for the month of $14 1 .OOO.OnO, which explains the gr,uOO.00u gold imports on me way rrom France. War has also been responsible forthe vio lent advances In a certain group of storks. War contracts are nroverbla.lv orof i table. ard it is known that some Tf the concerns have sceured highly advantageous orders. The result has Owen a violent speculation in certain issues. Koerulatlve (Spirit Breaks Out. There la no doubt that the speculative spirit nas broken out with extraordinary energy, after a lone period of reoresslon. Thus far the rise has been confined very largely to the highly speculative lssus. The better class of Industrials and railroads, which have been comparative v neclected have a less spectacular but more enduring prosperity in .advance of them, and intend lng buyers of securities wlU do well to dls criminate carefully. The widening activity evidenced by thi succession of million-share days is sympto matic of the approach of better times. Wait street, in busily discounting future peace and prosperity. The greatly Increased activity in bonds and high investments is excellent testimony of reviving confidence. Of late careiui investors bav been good buyers. Our monetary situation is satisfactory ; and. while capital is likely to command high rates after a while because of reasons well understood, thre will be no lack of -funds or credit to good borrowers. iThe new re serve system ha arreatly strengthened and Increased the capacity of ou banking sys tem, and tnough there is more or less in -flation to be expected as a result of general conditions, there is as yet no danger In s!i?nt in this direction. Foreign liquidation Is no longer a menace. Europe is naturally send lng us a considerable- amount of securities which will aid In settlement of foreign credits here. I'-nder existing conditions it pays us much better to accept settlement In sceurlues than In gold. The latter we do not need and the former will ylled ua considerable profits. At the inomnt the market Is somew hat unsettled by realisations which were to be expected after such violent advances. A moderate reaction would strengt hen the market and pave the way for continued ac tivity and further recovery thereafter. CATTLE ARE THRIVING FIVE COIXTIES REPORT HERDS 0. RANGE EARLIER THAN Vf-VA-U Market Hlgs at laity In Malheur. AVIth Calvea Br In gins; 9'2Z aad Yearllnsra 935. BAKER, Or., May 1. (Special.) Cattl prospects in Baker, Malheur, Harney. Grant and Union counties are the best In many years. Cattle are on the range earlier than ever after a good Winter. The range la In good condition, the animals look better than ever aC this time of year and stockmen ex pect satisfactory prices. Ar canvass of the districts show that at Unity, Malheur County, the cattle market is high. Several sales of young stock have been made, calves selling for $C5 and year lings for Stock prices are steady and stock growers do not expect noticeable de- create in price. Medical Springs, Cnlon County, stockmen are not sel ling or preparing to sell because growers expect better prices, many of tucm constantly taking on more head for the future. North Powder. U iion County, reports that cattlemen ar rutlsfied with prices and con ditlons and the herds are unusually big for this time or year. Halfway and Pleasant Valley. Baker Coun ty, cattlemen are happy, having had their cattle on the range 10 days earlier than usual, and are holding for higher prices. Pine Valley growers do not expect to ship oerore June. John Day, Grant County, has many more cattle this year than ever before, grazing permits having been issued lor 45,000 head In the Malheur reserve. Prices there are somewhat lower, but growers do not fee disturbed because they cx pect them to be better. Canyon City. Grant County, prospects are Tine, cattle having come through the Win ter In good shape. Prices are good, bring ing ynu. rayvllle. Grant County, reports prices gooa ana tnat cat tie went through the mild Winter In splendid condition. Prairie City, Grant County, reports good prices, with many shipments to Portland. Dulath Mnaeed Market. DULUTH. May 1. L,lnseed, on track, to arrive aqa aiay. si.wsv-; July. $ J.01 ; Beptcmbtr, $.03. New York fa gar Market. NEW YORK. Mav 1 Raw lunr atesHv Molasses, 4. Otic; centrifugal. 4.e3o; refined steady. Cotton Market. NRW YORK, May 1. 8pot cotton quiet. Middling1 uplands, 10.40. No sales. GOOD ROADS DAY MAY 20 Governor in Proclamation Crges Women of State to Participate. SALEM. Or., May 1 (Special.) "Declaring that road improvement Is the best investment the state can make, and that it is desirable to foster a state-wide enthusiasm for (rood high ways. Governor Withycomba today proclaimed May 29 as "Good Roads day." The executive especially urs;es the women of Oreson to organize and participate in the exercises that day. Tn his proclamation in part Mr. Wlthycombe says: "tood roads are one of the prime foundations upon which our prosperity is built. Better roads are denlrable not only because they are beneficial from a commercial standpoint, but also be cause they promote social community development and increase our civic pride. They are the most valuable kind of encourasrement and advertising; In the eyes of the stranger who travels through the state." WATER PLANTS INSPECTED Clackamas Health Officer Says Part of System Insanitary. ORK;ON' ciTT, - Or., May 1. (Spe cial.) County Health Officer Van Ura- kle, who examined the water systems of the Milwaukie Water Company and the Mlnthorn Sprlnsjs Water Company at Milwaukie. said today that he would not make public his report until tomor row, when all opportunities influencing: the election there would be past. Dr.. van Brakie aaid. however, that part of the privately owned water sys tem Is Insanitary and in a deplorable condition. He made no examination of the source of supply. The examina tion was made at the request of Mayor Pelton, of Milwaukie. Milwaukie tomorrow at a special election will decide between two prop ositions the purchase of the property of the Milwaukie Water Company ana th Mlnthorn Spring's Water Company by tha city and the contracting for Bull Run water from Portland. WOOL GRADING PAYS Co-operation Among American Growers Suggested. FARMERS' LOSSES HEAVY Department of AffTicultti rc l'ropouft Mrthod by Which Sheep Men Will Get Kvery Cent They Are KntUled To. WASHINGTON, May t. The wool rrower has under the present system no m ay of ascertaining whether or not the manufac turer Is satisfied with his product. In con sequence. Improper methods of preparing; the wool for shipment cost hint from 1 to u cts a pound, for the msnufscturer Is frequently put to an ex 1 1. expanse, u ft sin at -which, f conrsH, he protects himself nv lowering tHe prlre to the tptrwT. The sjrower rt oei nl often se'I rtl rct to the manufacturer, dos not thoroughly understand the artous prof ess throueh whirh th wool pa- af t er Ina vf ne; his hands, and remains is not ant, therefore, of i! ne-pfl for Improvement In his methods. To remedy this cond !ttn, some form of co-operation a in on -r mil stow ers In any Riven region Is urged in a new publication of the department of A rrlcult ure, "The Wool Grower and the "Wool Trade." The Individual alone can lo little to Improve matters, for his dip is likely to be too small to induce the buyers to mike any altera tion In their accustomed methods of estt mstina; wool vulueis. With co-operatinn, however. It should be possible to prepare the en t ire dtp of an r section so that t tie reputation of its wool would he enhanced end th e-romers obtain the full market value of their product. A. sufflclrnt number of wool r row ers should he Included In each co-operative association, te enable at least 40oo or ."'( K) pounds of each of the various grades to be marketed at one time. Where American (irewer Ioeee. o-operatton will, of coulee, do little irood. however, unless the Individual growers fol low Improved methods of handling; the dip. An Instance of the present low price of American Wool as compared with foreign Is trlv-rn In the bulletin already rnntlonfd. T o lots of wool of tUe same yrsde. one of them from Idaho snd the other from Australia, were purchasrd by a i'hKudelhia msnu fact urer t he American at l1? cents a pound snd the foreign one at ?s cents a pound, before scouring. In the American fleece, the kind of wool that this manufac turer really wanted, amounted to Htl.71 per cent of the total ; In the f or-Mpu fleece to 9S.r-j per cent. A more accurate system of grad in; hsd given this manufscturr 12 p-r emit more of what he wanted than the American methods. In conseq ufine the for eiwjn siieep grower fot the ;t rn-r price for his fleece. (y tho time shrinkage, "off sorts." etc.. had been d eI tn-te-J, t lie eot per c!ean pound to the manui.ictur-r of tee wool he wanted was 4 1 cnts for the American fle-ee and 44..t c-nt- for the Im ported a d It ference of only .1 17 cen t s. It may have cost t he foreign grower a Htt le mure to prepare his fleece, but lie more than recovered t his In the higher price he sold it for. i Tf Amrican growers a ere In a rosi tlon to understand a little belter the needs of the manufacturer and the reasons for his prefer ence, for properly graded and packed fleece, they would u mj iifst tnnwbl v he much more Willing; to alter their methods. The. bulletin of tho department give In considerable de tail much Informat ion on these points. Rule for 1ool ff, row ers. It also suggests la rules for t he wool grower w hlch. it is imd, no our can afford to neglect If he Is at all Solicitous of the reputat loit of his clip. Th" ruli are : 1 . Ad hero to a set t led pot lev of breeding; the. tte of sheep suitable lo the locality. 'Z. t'sck lambs'. e es'p wet hers, and 'I buck, or very oily fleeces sepaialelv. If the bucks or part of the e,-a r wethers have wool of widely different kinds froin, the remainder of the flock, sh.ar stu-h sepa rately and put the w t"l in separate nrhi so marked. It. Hhear nil b'a k sheep ut one time, preferably last, and put the on In sepa rate sacks. 4. Hemove and seek separately ell tir". and then allow no tag; discount upon the clip as a whole. 5. Have slatted floors i-i the holding; pens. I'se a smooth. licht. (preferably PHper talne. 7. fc'ecurely knot the and hard glared strinK on each fleece. h. Turn Mrki , rong side out and shake well before filling. i. Keep wool dry at all times. 10. Make the brands on the sheep as snis't as possible and use a branding material that will scour out. 1 1. Know the grade and value of your wool and price It accordlngI. 'Z. lo not sweat rheep excessively before shearing. 13. Keen the corral sweepings out of the WOol. 1 . Io not sell the wool before ft le grown. 10. When all t hes-e rules are followed place your personal brand or' your name upon the bags or bales. Clover Crop to Re Bumper. RICKKlCALU Or.. May 1. ffpeclal. Farm work Is advancing In this vicinity with much rapidity, and a large ucrcngc of clover will be grown this year. Although the crop was a failure for ield last year. It la held that the clover is profitable fur yearly planting. The largest acreage for furmlnf purposes will be lo oati, inui h will be plant ed to wheat, and a scattering a mount of barley Is in prospect, home hopyard prepara tions s 1 so hiv ben man. OVERBECK & COOKE CO. Brokers, Wi-ks, Honda. Cosa. Crala. s.tc. tl-ZI7 BOARD OF TRAIK Bl IXi. UJfMBKKs CHICAGO BUARU Us TBADE. CsrrcspnffidVRts f lgss ar Brrst, .bit-ago and New York. MKMBKR9 Crw Tsrk Btork KiHisni, C'hlcsco Hlork Kirluon Hts hlork tirlnnia Cblcaao Hoard of Trado Nw iork Cotton KirbMf, New Orlru-ns Cotton Ksrtuuiss New York, COM fesrhango iow Ttork Produce Kscuans; Uverpool Coctoo) Ass'a ;ii:rmj,g"'iuiiui;' Oaf Hans Books oa Patents, Trsse-Msrht. etc., sent free. Patent erocarre through Mu no Ac Ce. receive free notice in the Sciaalilis A erics a. muni at v.u., e?j w serwerra dm., n. i. l WsfeHltfCIO.I OFFICE: 121 F St- Wiiaaajtai. D. C. TatAVKI.EKM' OC1UK. COOS BAY LINE Steamer Breakwater Balls Prom Anorh llork. Portias. ff.rr Tbontsar mt M A. M. Frrishl and Tlikrt Offtre, AlnsMo-rth Dsrk. I'hooea Main XKOO. A J.UIJ. I llr 't icket ffl-r. M lh tt. Phonea Marshall 4.VMI. A Ml. 11. NEW ZEALA ND AUSTRALIA U JWXJI tiU -wt ftVVj-a P aiatiai -fa as near fcteamera "XIAttAltA '' S O.oou tons dip.acemet "MA Ski RA, 1 t.vUO tons diaptaceroeat Calling mvmry St daa from Vancouver. H. C Apply Canadian treul.e It-allwa- Co.. e M I'ortlt.nu. Or., or to ti IhikUib Ae etrataeiao Royal Mail 1.1a e. -aa-a ee wwur SM'euer. It. C ALASKA GOLD -BELT MAP A map shoTrfn-r the eroat A'axkH ;o!d Holt at Juneau (said to be the world's rstent e;ot OeposM t will le frnl J" H K.h upon reiiirwt. MAlrxKfcYfcU UKOri.. 170 tiiUAUlUl, N. T.