. r AirriAVTV DnTTT 'T1 T" TUT? TT A 1? V f 1 D t ft.
Till. uM.-yi mtiytn-' i-v.'i x uiixu-i) ----- -
WHEAT TRADE LIGHT
Demand From Outside Is Good
but Shipping Is Difficult.
WEEK TURN-OVER REDUCED
Farmers Withdraw From Market as
Hiils at Country Toints Arc
"owcrrd Freer Selling
Is Eipectcd Soon.
Testerd.-'y closed a very unsatisfactory
week for tho wheat trade. The total volume
of business was about the llgntcsi lor m
season to date, and at the wlndup the mar
ket was weak all around.
The chief difficulty was the poor trans
portation service brought about by the car
shortage in the Northwest and the embar
goes asainst shlnments to various ports In
the East. There was a steady export de
mand throughout the week and a fair In
quiry from the East for certain grades of
wheat, but as there was little chance of
getting the grain forward promptly buyers
were more or less idle.
The lack of offerings by farmers would
have restricted business, even were It pos
sible to move shipments freely. There was
plenty of sellins when the market was at
the dollar point In the country, but with
bids now down to about S3 cents for club,
sales have become a trifling matter. Deal
ers look for offerings on a larger scale to
ward the end of the month as tax time
approaches, but It is a question in their
minds whether any great quantity will be
available then.
At the Merchant's Exchange session yes
terday club wheat bids were unchanged from
Friday, but offers for milling wheat were
reduced 1 to 2 cents. Bed wheat bids were
1 cent lower than the day before.
Barley and oats are more or less nominal
In the local market. lEast of the. Cascades
unsold stocks or these cereals are much re
duced and what is left in first bands la
arrnly held.
Uroomhairs Argentine report says of
wheat: -Movement Is disappointing.
Storks are accumulating slowly and holders
are not pressing for sale. Freights remain
steadyy. Shipments of all grain are light as
available tonnage Is being used for beef and
bottoms are scarce. Wheat shipments will
remain light for some time, although the
export demand is urgent and price offers at
tractive." Terminal receipts, in cars, were reported
by the Merchants' Exchange ss follows:
Portland Wheat Barley Flour Oats Hay
Saturday
Year ago.
Total thisTvk..
Year ago . . . .
Reason to date.
Year ago
Tacoma
Friday
Tear ago ....
beacon to date.
Year ago ....
Seattle
Friday
Year ago ....
Season to date.
Y'ear ago
RO IS 1
Sit 11 ! Hi 7..
41.-. 10 -M 1 4!
OIKS 1it-J H'-" slt ''A:l
I.06I llHii ItKJi 1U7J 10-1
.O .. " 1
!. 4 .. 11 11
r.."j 4S7 .. 257 17.tS
SltlJ 4ii - - -ils
20 13 7 4 19
i 1H IS 1 14
fir.7 10S2 lr,!l7 747 30h9
J7! S:".-i 1704 UUO i433
OLD WOOL STOCK ABOCT CLEANED UP.
Contracting on Large Scale In It ah at nigh
Friers.
Stocks of 1915 wool In Portland ware
houses are being rapidly reduced, only
abouf 100.000 pounds now remaining un
sold. Tho market is strong, and the at
tractive prices being offered will soon clean
VP the remainder.
The contracting movement In this state
continues backward, but elsewhere in the
-West forward buying Is on an increasing
scale. Another million pounds has been
bought by an Eastern firm In Utah at a
grease price equal to 75 cents for fine and
line medium scoured laid down In the East,
provided the Btock does not shrink more
than last year's wool.
Wool has been contracted ' for on the
sheep's back as early as this and earlier
In the past, but never. It Is said, has so high
a price been secured by the growers. Such
purchases are highly speculative, but the
operations that are being conducted prove
quite conclusively that leading trade fac
tors are convinced that wool values are
going to remain high for a long time to
come.
Reports from 'Montana stated that con
tracts had been entered into in that sec
tion also and that the prices agreed upon
for fine and fine medium were practically
the same as those procured by Utah grow
ers. A number of buyers are now on their
way west representing Eastern dealers and
mills, and the competition that will result
when they get on the ground Is expected to
establish the primary markets on a very
firm basis.
ASSOCIATION SELLS MORE HOPS
Ktrong Foreign Demand, But Transportation
Is Obstacle.
According to reports from Salem, the
Oregon Hopgrowers" Association has disposed
of a considerable quantity of hops In the
past week. Its unsold holdings are cow es
timated at about 12.000 bales.
There Is a strong export demand for hops
In this" state and In California and It Is
probable the larger part of the remaining
supply will go abroad. The principal diffi
culty now Is to provide transportation.
California advices were that deals Involv
ing a big block of hops were under way
with export buyers. The latest transaction
in that state was the sale by Cassleman &
Leeman of ir0 bales of Sacramentos to
Donovan at 10& cents.
No contracting has been reported in this
state yet, hut a fair amount of future buy
ing has been done in California and Wash
ington. Dealers are offering 11 cents for
one year and 12 cents for three years lor
Oregon contracts.
OREGON OXION STOCKS ARE REDUCED
Only 140 Cars Now Remain Unsold in This
State.
The onion market holds steady at the
lormer quotation of $2 f. o. b. During
the past week 31 cars were shipped out by
the asoclatlon. Only about 140 cars now re
main unsold in the state.
The potato market was quoted weak, with
increased offerings by farmers and no im
provement In the shipping demand. .
Oranges have sold well during the past
few days, and the heavy midweek arrivals
were well cleaned up. The quality of the
navels Is now at their best and dealers
believe prices are at bottom. Apples are
also selling freely.
Pineapple shipments win start about
March 1. The fruit that has been arriving
for the last month bas been immature and
poor in quality.
A car of sweet potatoes was received
yesterday and the stock was quoted firm.
The lettuce coming up shows the effect of
heavy rains and frost in the growing sec
tions of Southern California.
- SHXPFIN'G ORDERS FOR EGGS FILLED
Good Outside Demand Prevents Market From
DerUnlnff Fast.
Eggs were weak at the close, bnt stocks
cleaned up well on the street. The gen
eral price was 27 cents, case count. The
filling of shipping orders has checked the
greater decline that would have otherwise
occurred.
The dressed meat market continued very
weak. Veal was quoted at 8 cents top.
and pork at 84 cents. Hens, large and
small, sold at 13 cents. A few broilers
were on hsnd and brought 18 and 20 cents.
.No change was reported In dairy produce
lines.
Montana Wool Brines 80 Cents.
' DILLON. Mont., Feb. 19. A. quarter mil
lion pounds of wool were contracted for here
today at SO cents or better by Boston buy
ers. State Senator E.0. Selway was the
first to sign a contract for the first wool
sold in Montana this year. Thirty cents Is
the highest ptico ever paid for wool in
Beaver Head Connty. the biggest woolgrow
ing region of the state.
Bank Clearing!!. '
Bank-clearings of the Northwestern cities
yesterday were as follows:
Clearings. Balances.
Portland $1,441,661 l:s."..6:;6
Seattle 1.SS9.999 lO,0S
Tacoma aitf.tUO .14.442
Spokane oG4,3S' ll,4ti0
Bank clearings of Portland. Seattle and
Tacoma for the past week and correspond
ing weeks In former years were:
Portland. Seattle.
Tacoma.
S2,2H4..t;
2.117,(1X2
2, -.'!1.4f.l
2.3.:'i.m
3. .S.l!:t
3...77.0.-I2
4.7(i2.olt;
4.0!,77'
3.el.fi52
4,340.717
3..-.01.27O
.635.90l
1P16 sii.n:s.lt;n fi:t.ll.tT4
11S
1!tl4
11113
1!1
1911
110
1!l9
I'.MIK
1!)I7
101 III
1U0S
12.(mio,n:4
2.riiw.o."i
12.2!S.!1V
1II.S41.K2.1
!.172..".04
3.:U2..-.2.-
7. 2SS. "I.-.""
.r..:t.-.4,t2t
.-.,.-.4r...-i!4
7.40U.O.MI
B.1I)2.K!KI
3.8i 7. o:n
1 1.7W.I170
11.B.M.277
l.()s.ss:t
f.4."i1.8H)
!).4i4.:4ll7
7.lir.l.42
7.2S2.N.-.7
10.M.II.VS
10.7ii.4".0
.V106.U64
TORTLAND MARKET QUOTATIONS
Urain, Floor, Feed, Etc.
Merchants' Exchange, noon session.
February delivery.
Bid
Yr. sgo.
1.54 V
l.r.::
1.52
1.44
1.42 it
Wheat Bid.
Bluestera $ 1.07
Forty-fold !'"
Club 1(6
Red fife
Kt-.l Kusslan Il
Oats
No. 1 white feed 2W.00
Barley
No. 1 feed 23.00
Bran 21 ".0
S,horts 3.00
Ask.
1.13
1.U7
1.03
27.00 84.73
28.00
24. 0O I'rt.oo
Jfl.no 27. 'Ml
Kid. Ask.
March bluestem S 1.IW 113
April bluestem l.x 1.14
March fortyfold ' l.
April fortyfold S !
March club 7 1.05
April club 07 0.08
March red fife
April red fife
March Kusfian
April Russian t.. .01
March oats 2.2"
April oats 2t..iil
March feed barley 2!MM
Aoril feed barley -'J.0
March bran ; 22 00
April bran 22.O0
March shorts 24.00
April shorts 24.00
FI.OrR Patents. Jt5. 60 per
27.50
28 00
-40
24.00
26.00
26.00
barrel
straights. $4.fi05.40: exports. 14.70: valley.
. - .... i. 1 L. . .. . - 1 ,1 . .h.,m l'-J1 '
ft1,!"; HIIUIQ tlllCBL, BiallII..(
HAY Eastern Oregon timothy, $18 50
1D.50; valley timothy, $16; alfalfa. $20.
MILLFEED Spot prices: Bran, $23.50
24 per ton; shorts, I-G&l'e.OO; rolled bar
lev. $31.507'32.00.
CORN Whole. $37 per ten; cracked, $38
per ton.
Fruits and Vegetables.
TROPICAL FRUITS Oranees, navels.
il.V5ti3.25 per box; lemons. $34.rni per
box; bananas, 5c per lb.; pineapples, 4!tPoc
per pound; grapefruit, $25.23; tangerines,
S1.5it 1.73.
VEGETABLES Artlchokes.Vf 1 1.15 per
dozen: tomatoes. California. a:..: cao-
base. tl.oOMl.iii per hundred: garlic, 10c
per lb.; peppers. 20S25c per pound: egg
plant. 25c per pound : sprouts. 8g Oc per
pound; horseradish. 8c per pound; cauli
flower, $1.25 per doxen; celery, $4.75 per
crate: lettuce, 12.402.50 per crate; cucum
bers. $1.50ti' 2.00; hothouse lettuce. 75c&$l
per box.
GREEN FRUITS Grapes. $4 per barrel;
cranberries $11 per barrel.
POTATOES Oregon, fl.40Ct1.Sn; Tskl
mas. $l.t!5 per sack; sweets, t.25g3.50 Per
nuitdred. "
ONIONS Oregon, buying prices, $2 f. o. b.
shipping point.
APPLES Spitienbcrgs, extra fancy, $2.25;
fancy, fi; choice, $1.25(1 1.50; Yellow New
towns, extra fancy, $2; fancy, $1.75; choice.
$1.35 1.00; Rome Beauty, fancy, 1.50
1.60; vyinesaps, choice, I1.15Q1.35; Stay
man, choice. $1.25 !i 1.33.
Dairy and Country Produce,
Loral Jobbing quotations:
EGOS Jobbing prices: Oregon ranch, can
dled, 2Uc per dozen; uncandled, 27c per
dozen.
POULTRY Hens. 15c; small Springs, 13c;
broilers, IS 20c; turkeys, live. 1802oc; tur
keys, dressed, choice, 24$p25c; ducks, 12iy)
14c; geese, 10c.
BUTTER Prices from wholesaler to re
tailer; Portland city creamery prints, 60
pound case lots, standard arades. 34c; lower
grades, 2832Hc; Oregon country creamery
prints. 60-pound case lots, standard makes.
32 fcc;" lower grades 28 & 31c; butter packed
in cubes, 2c less. Prices paid by Jobbers to
producers: Cubes, extras, 29Hc: firsts,
27 hkc. seconds, 25c; dairy butter, country
roll, 16B18c; butter rat, .o. l, s-c; no.
2. 20c.
CHEESE Oregon triplets, joDbing baying
prices, 20c per pound, f. o. b. dock Port
land: Young Americas, 21o per pound.
VEAL Fancy, 9c per pound.
PORK Fancy. BVic per pound.
Staple Groceries.
Local Jobbing quotations
SALMON Columbia Rlvfr, 1-pound tails.
$2.30 per dozen; one-half flats. $1.50; 1
pound flats, $2.50; Alaska pink, 1-pound
tails, 03c.
HONEY Cholc. $3.25 per case.
NUTS Walnuts, sack lots, lGc; Lrazil
Jiuts. lS'a'ISc; filberts, lb 18c; almonds,
1CM:C; peanuts, DHCm cocoanuta, $1 per
dozen: pecans, 102uc; chestnuts, 10c.
BEANS Small white, 7.20c. large white,
7.15c; lima 6c; bayou. 64c7 pink, 3e.
COFFEE Roasted In drums. 143ac.
SUGAR Fruit and berry. $7.00; beet,
$6. SO; extra C, $6.50; powdered, in barrels,
$7.25: cubes, barreis. $7.40.
SALT CJranulated, $15.50 per ton: half
ground, 100s, t'l.M per ton; 50s, $10.50 per
ton: dairy. $14 per ton.
RICE Southern head, 546Hc pound;
broken, 4c. Japan style, 4H5c.
DRIED FRUITS Apples, Sc per pound;
apricots. 13'ja"13c; peaches, 8c: prunes,
Italians. S&Uc; raisins, loose Muscatels, 8c;
unbleached Sultanas, SMi&lOc- seeded, 9c;
dates, Persian, 10c pound; fard, $1 65 per
box; currants. S'4fl2c; figs, 50 0-ounce,
$2: 10 4-ounce. $2.25; 36 10-ounce. $2.40; 12
ID-ounce. 85c; bulk, white, 7 08c; black, 6c
per pound.
Hops, Wool, Hides, Etc.
HOPS 1915 crop. 10 13c per pound; 1016
contracts. Iltrl2c per pound.
HIDES Salted hides, 25 pounds and up,
15c; salted stage, 50 pounds and up, 11c;
salted kip. 15 pounds to 25 pounds. 16c;
salted calf up to 15 pounds, 19c, green
hides. 25 pounds and up, 13c; green stags,
5o pounds and up, 0 Vic; green kip. 15
pounds to 25 pounds, lrtc; green calf, up to
15 potitids, 19c; dry flint hides, 2tc; dry
flint calf, up to 7 pounds, 2Sc; dry salt
hides. 21c.
'VOOL Eastern Oregon. lS25c; valley,
25 fii 20c.
MOHAIR Oregon. 2S29e per pound.
CASCARA BARK Old and new, 4c per
pound.
PELTS Dry lcng-wooled pelts. 17c; dry
short-wooled pelts, 13c; dry shearlings. ICS
15c each; salted shearlings, 1525c each,
drr goat, long hair, 15c each; dry goat
shearlings, 1020c each; salted long-wooled
pelts, February, $1.252 each.
Provisions.
HAMS All sixes, choice. 19c; standard.
1714c: skinned, l417c; picnics, 9ttc; cot
tage roll, 130.
BACON Fancy. 27i2Sc: standard, 21
22c: choice. 15H2"c.
DRY SALT Short, clear backs, 11
13Vc; exports. HH13c; plates, 910Mc.
LARD Tierce basis, kettle rendered, llc;
standard, lt'-fcc: compound. lOHc.
BARREL GOODS Mess beef, $18; plate
beef. $19; plate pork. $1S; tripe, $10,500
11.60.
Oils.
KEROSENE Water white, drums, bar
rels or tank wagons, 10c: cases, 17!i20Ho.
GASOLINE Bulk, 18Hc: cases, 25fec;
naptha. drums. 15itc: cases. 22V4c.
LINSEED OIL Raw, barrels, S9c; raw.
cases, K4c; boiled, barrels, 91c; boiled,
cases, 96c.
TURPENTINE In tanks, 67c; in eases,
74c: 10-ca6e lots, lc less.
SAN FRANCISCO PRODUCE MARKET
Prices Current on Batter, Eggs, Fruitql
Vegetable, Etc., at Bay City.
SAN FRANCISCO. Feb. 19. Butter
Fresh extras, S2c; prime firsts, 30 14c; fresh
firsts. 2c.
Eggs Fresh firsts, 22c; pallets. 20c.
Cheese New, 18c; Young- Americas,
17fcc.
Vegetables Egg plant. 10a2Oe; turnips,
60&5c; Lima beans, 12Hfcl5c; string
benns, 12S&15C; bell peppers, 2025c;
cucumbers. $2 2.25.
Onions California. $1.75?2.23.
Fruit Lemons. J2.75ifJ3.50: grapefruit
J1.50&2.75; oranges. $2.15S'2.70; bananas,
Hawaiian, 50c&$l. 30; pineapples, Hawaiian,
$2193; grapefruit, $1.5093.75.
Potatoes Delta. $1.251.30; Salinas, J1.75
i; 2: sweets. $2.4002.50.
Receipts Flour. 3710 quarters; barley.
11.605 centals: beans. 829 sacks; hay. 518
tons; hides, 355 tons.
y
Naval
SAVANNAH Ga
Stores.
Feb. 19. Turpentine
steady, C0c. Sales.
69 barrels; shipments,
336 barrels: receipts.
2 barrels; stock. 10.-
161 barrels. '
Rosin Dull. Sales. 276 barrels: receipts.
1104 barrels: shipments, 141 barrels; stock,
64,517 barrels. Quote: A. B. C, D. E, F.
G, H, $3.10: I $3.23: K. $5.85; M. $6.20; N.
$8. 74; W G. $6 80; W W. J7.
SALES ARE PRESSED
Bears Have All Advantage in
Wheat Market.
CHICAGO HEAVY AND LOWER
Export Buying Is Eacking in Spite
of Firmness at Liverpool.
, Larger Keceipta' in North
west Add to W eakness.
CHICAGO. Feb. 19. Bears had the ad
vantage In the wheat market today, chiefly
owing to apparent absence of any important
European buying and as a result of liberal
receiots Northwest. The close was neavy,
l4c to 2g cent lower.- with May at
J1.27 and July at $1,225,. Corn
lost lV414c to 14c. oats c to IV60, ana
provisions 2H to 17 :.4C.
Although at the outset wheat showed a
little firmness in sympathy with higher
quotations at Liverpool, the tendency after
wnrH w:i nlmnRf uniformly downgrade.
Corn suffered In value, owing to the
weakness of wheat and as a result of large
arrivals.
Depression In the oats market came about
because of the heaviness of prices on other
cereals.
Provisions made temporary gains. In
fluenced by speculative buying of lard. In
the end. however, the advance was more
than offset, mainly through the bearish
sentiment prevailing as to grain and hogs.
Ihe leading futures ranged as follows:
WHEAT.
Open. High. Low. Close.
May 1.2 1.30it J1.27V4 J1.27V4
July 1.24 1.24 14 1.22 1.22
CORN.
.. .7914 .7?"
Mav
July
.77
.77
.77
.. .78
.78 94
.77
OATS.
May 48 .48 .47 .4714
July 46 .46 .45 .45
v MESS PORK.
May ..- 10.85 20.93 20.65 20.70
July 20.87 20.93 20.73 20.
LARD.
Mav inf-, 10 42 10.30 10.30
July 10.52 10.60 10.47 10.47
SHORT RIBS.
May 11.55 11.62 11.52 11.62
July 11.65 11.70 11.63 11.62
( ash prices were as follows:
Wheat No. 2. red," J1.2801.3OH: No. 3
red, $l.:6rl.28 : No. 2, hard, $1.281.3014
No. 3 hard, 1.241.28.
Corn No. 2. yellow, nominal; No. 4. yel
low. 72187214c: No. 4. white. '828294c.
Oats No. 3, white, 45 46 Vi c; standard,
Rye No. 2. 99c(g'Jl.
Barley 68 j 7c.
Timothy $5.50ff ft.OO.
-loiwr $10.00 30.00.
Primary receipts Wheat. 1,497,000 vs.
799.000 bushels. Corn, 1. 808.000 vs. 783.000
bushels. Oats. 832.000 vs. 883.000 bushels.
Shipments Wheat. 1. 797.000 vs. 783,000
bushels. Corn. 70S.O0O vs. 562,000 bushel)
Oats. 675.000 vs. S2S.O00 bushels.
Clearances Wheat, 1. 006.000 bushels.
Corn, 43.000 bushels. 'Oats, 13,000 bushels.
Flour, 26,000 barrels.
Foreign Grain Markets.
LIVERPOOL, Feb. 19. Cash wheat d
higher. Corn unchanged.
Minneapolis Grain Market.
MINNEAPOLIS. Feb. 1!. Wheat May
II 25--H1 Julv. $1.24 B1.24T4. Cash
No. 1 hard, $1.33; No. 1 northern, $1,270
1.3oy.; No. 2 northern, $1.
Barley. KT,u. rn 73c.
Flax. J2.34fu2.3S;
Eastern Grain Markets.
CHICAGO. Feb. 19. Cash wheat, lc to
114c lower; corn, good grades, lc to 2c lower;
sample, 3c to 5c lower.
"DULUTH. Feb. 19. Wheat Closed, May,
J1.2ii asked; July J1.26 asked.
WINNIPEG, Feb. 19. Wheat Closed,
May, Jl.26; July. $1.25 -.4 asked.
KANSAS CITY, Feb. 19. Wheat Closed,
May $1.1814; July, $1.16.
Grain at San Francisco.
SAN FRANCISCO, Feb. 19. Spot quota
tions Walla Walla, J1.7714 1-S0; red Rue
sian, $1.7591.7714: Turkey red, $1.8714
1.90; bluestem, $1 90Sjl.9o; feed barley,
$1. 32!41.35; brewing, J1.40 1.42 14 ; white
oats. $1.45& 1.4714; bras. 2414 &2514c; mid
dlings, 306 31c: shorts, 2526c.
Call board Barley May, $1.38.
Puget Sound Grain Markets.
SEATTLE. Wash.. Feb. 19. Wheat
bluestem. $1.10: turkey. $1.09; forty-fold,
9!c; club, 08c; fife, 9c; red Russian, 97c
Barley, $29.25 per ton; yesterday's car re
ceipts vvneat, zu; oats, i; parley, a; nay.
15; Hour, 7.
TACOMA. Feb. 19. Wheat Bluestem, $1;
forty-fold. 09ci$l; club. 98c: red fife. 97c.
Car receipts Wheat, 20; oats, 1; hay, 8.
HOG SUPPLY IS SHOOT
RECEIPTS TJXDER LAST FEBRTJ.
ART'S RECORD.
Many Offerings of Inferior Quality.
Strong lemand for All
Mutton Classes.
The livestock market closed at the yards
with better prices for hogs than any day
since Monday. Two toads of prime grade
were sold at $8.15, as against $8 and $H.05,
the market for several days preceding.
Business in other lines was unimportant.
Receipts were 40 cattle, one calf, 626 hogs
and nine sheep. Shippers were:
With hogs C. E. Luuke, Canby; Sol Dick
erson. Weiser; Dickerson & Halley, Weiser,
and J. B. Kurgbaum, Weiser, 1 car each.
With mixed loads C. E. Lucke, Estaca
da, 1 car cattle and hogs; J. M. Mishler,
Hubbard, 1 hogs and sheep. J. Davis. Rich
field, sent in 24 cattle, 70 hogs and 2 sheep
by boat.
'me aay s sates were as ronows:
hogs. . . .
142 $S.l
7 hogs 104 J7.00
140 8.13
37
104
7.00
ISO
141
175
160
104
160
157
122
8.00
3
152
70
950
9.10
6.75
8.25
6.10
8.10
5.00
4.00
3.50
3.00
8.11(1
K.00
8.00
8.00
8.00
8.00
8.00
7 lambs
1 cow . .
1 " 5S0
1 bull .. 1240
1 " 700
1 " 700
Conditioni
in
the
local market are
de
scribed by the Livestock Reporter as fol
lows:
Cattle receipts for the mid-week market
have been heavier than for some time past.
Receipts are largely confined to the short
fed and plain variety. Extra well finished
steers are very scarce. No choice steers
have been offered since Monday when three
loads of pulpfeds crossed the scales at $7.50.
Trading Is somewhat uneven, but good classes
are selling on steady basis. Plain and rough
steers ranging from 9oo to 1100 pounds are
being moved at prices ranging from $6.23 to
$6.75. The supply of stockers and feeders
is very small, only a few loads being moved
on account of the several conditions exist
ing against the feeder at present, especially
the cost of feed. Three cars went to Wash
ington iped lots the first of the week.
"Receipts of hpgs have been fairly good
for this time of the year, although they are
still short of last year's February record.
While there were some very good offerings,
there were a noticeable number of light un
finished hogs that would go In tne pig
class. A good many of the carlots were of
the 'succotash variety pigs, skips : nd hogs
mixed. It looked very much as if farmers
gathered anything In the swine line that
could get In on an advancing market
"There Is a keen demand for all classes of
sheep, especially yearlings and lambs. The
severe weather 01 tne last montn seems to
have given, the sheepmen quite a setback."A
good many sheep that were about ready to
turn on the market lost a good deal of fat
on account of not being able to get enough
feed. A fair example was shown Monday
when nothing of choice quality was offered.
A good bunch of lambs brought 9 cents, bnt
strictly choice fat Iambs would have gone
over the -cent lisure. oorm rurusna i
the strongest sheep market on the Coast to
dsy Choice lambs are quoted $8.60 to $9;
vearllngs $7.75 to $8. and ewes, i'6.75 to $7.
Strictly fat lambs would undoubtedly go
above today's quotations."
The range of prices at the local yards for
various classes of livestock follows:
Cattle
Choice steers J7.25f7.75
aood steers 6.5i.00
Medium steers 6.506.75
Choice cows .................... 5.50(6.75
Medium cows 4.73 5.20
Heifers 4.00 6.40
Bulls 2.5O4:50
Stags 3.00e5.2D
LlghfTT 7.50S.15
Heavy 6.507.1o
Yearlings T. fo 1 8. 00
Ewes - 5.75 i.OO
Lambs 7.50 9.00
Omaha Livestock Market.
OMAHA, xeb.. Feb. 19. Cattle Receipts,
100; steady. Native steers 6 25 8.73: cows
and heifers 5.25(6 6.23; Western steers, 0.00
6 7.75; Texas steers, 5.706,6.70; stockers and
leeuers, a.uqj1 f.o.
Hoes Receipts. 14.100: steady. Heavy,
7.n56tS10: Ilirht. 7.K0WS.O0; pigs, 6.75 i.i o
hullr f sulna 7 K."i (hi 8.115
Sheen Receipts. 4.400; market steady.
Yearlings, 8.2519.75; wethers. i.2uS.0O
lambs, 10.50 11.10.
Chicago Livestock Market.
rHiriY Treh. 10. Hon Receipts, 22.
000: firm nt yesterday's average. Bulk 8.10
(B8.30: light. 7.756-8.30; mixed. S.oojjiS.Si
heavy. 7.054x8.33; rough. 7.'J5S.10; pigs.
' Cattle Receipts. 2O0; steady. Native
tora it tui o fir, ' Western steers. 6.70 8.75
stockers and feeders, I.50(g 7.25,: cows and
heifers. 3.15 S.2o; calves, s.iivll..
Sheep Receipts, looO: steady. Wethers,
7.70'S'S.30; lambs, 9,00 11 .35.
COMMODITY LISI SOARS
ADVANCES IN ALMOST ALL STAPLE
ARTICLES.
Index Number of Wholesale Quotations
la at Highest Point in Many
Years.
Commodity prices continue to advance.
During the last five months tho upturn in
the leading articles of consumption has con
tinued unchecked, and on February 1 Dun's
index number of wholesale quotations
touched $142.260 the highest level reached
since the early '70s. -inese l'lgurcs compare
with $137,666 at the opening of the previous
month, $125,662 on February 1, 1915, and
$121,641 two years ago. The enhanced pur
chasing power of the masses is reflected in
sustained buying of the staple necessities,
and disproportion between supply and de
mand hn l.ad a strenetnenlng enect uu
numerous commodities, while speculative in
fluences have accelerated the rise in some
quarters.
All but one of the seven divisions into
which the Index number Is dlviuea snoweu
advances during January, the exception be
ing the dairy and garden class, which declined
slightly because of cheaper butter, eggs and
certain vegetables. Once again the most
striking chanse of the month occurred in
hroailKtuffs. the total of this group rising
from 27,318 to $2S,7S1. owing mainly to the
increased strength of wheat and oats, bince
the former cereal enters largely Into general
consumption, ' tho net gain in price of al
i.w. n v,-.tMhrl materially affected the
nnmnllatlon. Breadstuffs. however, are still
considerably below the high level attained
on Mav 1. 1915. With most meats and pro
vision!, aeain tending upward beef, sneep,
hogs, pork, bacon and lard all costing more
t:,ia division showed a further substantial
advance, while other foodstuffs were moder
ately higher, as a result ot me
nnffir mid malt
Among the classes embracing many ar.icies
used iii manufacturing, as well as the
iiiatZnA n.n.iiiM nrnvimiH Htrcnrth in quo
tations was accentuated and the metals
group reached the highest point In years. In
several departments of iron and steel, de
mand continues to exceed supply and fre
quent comulaint is heard of tardy deliveries,
transportation problems aggravating the dif
ficulties In inakimr orompt shipments, cop
por rose sharply in January and the upturn
has been carried further this month, while
tin tinniatA and leaa again gaiueu n
value.
the falling off In ex
ports, raw cotton declined considerably last
month and ruboer was aiso lower, uui
continued strong. In the dry gooas maraeis
rising prices were again the rule and the
same was true of hides and leather, though
n i-n hM ihvm receded somewhat.
check has occurred to the advancing ten
in miscellaneous commodities, lumber,
K,,iiHin. materials, fertilizers and various
drugs and chemicals touching still higher
levels. . . .. .u-
Owing to the wldespreaa interest m
subject and the numerous requests lor in
formation regaraing tne iiruucno
Dun's index number is obtained,, brief ex
planation of the methods employed snouia
prove tlmelv. Contrary to the assumption
In some quarters, this record does not pur
port to show the actual cost of living for
various reasons, out it uu -
j -,.. in manner that brings out
-1..0-1.. .v. eolation hetween demand and
supply. On the nearest business day to the
first of every month wholesale quotations
of all the necessaries or lire are icu -each
one is mu tlplled by the figure agreed
upon as the averago per capita consumption.
While it Is obvious that the consumption of
some commodities has increased during re
cent years, it would defeat the purpose of
the Index to change the multiplier in any
instance, because there would no longer be
a comparative record of the cost of the same
quantities of the same articles back to 1860.
as Is now the case The value of adopting
.nnsumntlnn basts In work-
, .... m.t at once be apparent;
in this way no single article has more than
Its proper weight in the aggregate, and wide
fluctuations In an article little vsed do not
materially affect the total, whereas changes
in th .-rest staples have an Important bear.
ing on the general result.
CLOVFR BACTERIA IS r i iv.-i.-i. i..'
Agricultural College to Supply It at Small
Cost to Farmer.
rnRViLLlS. Or.. Feb. 19. (Special.)
Paul V. Marls, state leader in tne ij-y
ative extension work, nas comi
lowing from tne weeKiy iii
aSLakeDurVng the -week I have given daily
.-lb. tr. tho eiirhth-grade class in agncul-
nn Tuesday demonstrated tne
oKcnclf test to the class in science at the
i i i.iy. .nhnni i. K nurui.
k'i.n,ith Arrangements were made the
i.. ...ft of this week to hold a meeting
... .L. t Bonanza for next Tuesday
night for the purpose of organizing a Farm
d a ward of the Biological
Survey, w:as with'me the last three days of
the week and asslstea in outlining h
... .mer' clubs to combat rodents.
demonstration of preparing poison baits
was given at my office. A meeting was
a n.it Monday nignt at tiie
Henely school. n. rt. uuu.ici.
Jackson On Tuesday a meeting was held
at Phoenix with an attendance of bo. i
discussed scab and pear blight, and Pro
fessor Reimer gave a good talk -on resist
ant pear stock. The Interest of the farm-
ers or orcnaraists was ci"c.cw j
number of questions askea. as suou
material arrives experiments will be startea
to determine the Importance of insects in
the dissemination of blight. C. C. Cate.
Yamhill I find tne urangeo auti
of the Farmers' Union active in ieueraimB
for the purpose of co-operative work. They
have a committee making a survey of the
business done by members last year. This
work was started by the department of
organizations and markets of the college,
and I have been able to give the commit
tee some assistance. I find that an agent
. .-4i hscterio. romoanv of San Fran
cisco has been through the county selling
hacteria for clover inoculation at $2 per
acre. Farmers wno purciiaseu it auui...
to me that they have grown gooa cmva,
and that there are an abundance of nodules
on the roots. I have In eacn case auvisetj
them of the fact that bacteria can no imu
from the college at a nominal cost, im
have expressed my doubts as to the needs
of inoculation here. M. S. Shrock.
Coos One of the most successful dairy
meetings we have ever had was held on
Thursday, February 3, at G. P. Lalrd'a farm,
near Rlverton. The forenoon was taken
up with the dedication of Mr. Laird's new
dairy barn, and the occasion was made a
sort of a farmers' frolic, with all kinds of
sports, music, free cigars and a dinner.
After dinner W. E. Meyer, cow-testing spe
cialist for the United States dairy division.
end W. A. Barr, witn tne aairy extension
service of Oregon Agricultural College, gave
an illustrated talk on dairying, after which
they assisted us in reorganizing tnese two
esting associations Tor anotner year b wura.
Quite a number of herds were signed up ror
the work at this time, and we expect to get
more later. The programme was closed by
. stock-Judging contest conducted by Mr.
Barr. In. which all of the dairymen took an
netivA nart in the work of placing the class
of five registered Holsteln cows belonging
to Mr. L,aira.
Dried Fruit at New York.
NEW YORK. Feb. 19. Evaporated apples.
dull and easy: fancy, S9c; choice, 67c:
prime, 6(8,5c. Prunes, urm. -eacnes.
quiet. '
New Tork Sugar Market.
NEW YORK. Feb. 19. Raw sugar, nom
inal; molasses. 4.28 SP 4.31c; centrllugal, 6.05
5.08c. Refined, j;rm.
Dulutb Linseed Market.
DULUTH, Minn., Feb 19. Lfnseed, cash,
2.33; Slay. $2.35; July. $2.34.
Hops at New York.
JTEW YORK, Feb. 10. Hops Steady.
COPPERS LEAD LISI
Metal Shares Dominate New
York Stock Market.
HIGH RECORDS ARE SCORED
War Issues and Other Specialties
Aro Active at Advance; Itails
i and Motors Are Under
Moderate Pressure. ,
NEW YORIC. Feb. 19. The market was
irregular again today on a diminishing scale
of operations. Trading was wholly profes
sional, next week's holiday and the complex
international situation causing a complete
elimination of public interest, v
Metal shares continued to dominate the
list, American Smelttng leading with an
extreme gain of 3 points, while Utah and
Chino scored the highest quotations in their
hiBtory. There was further activity In Amer
ican Zinc and Butte & Superior, while to
baccos, fertilizers, Mercantilo Marine pre
ferred and some of the war issues were
higher by 1 to 3 points.
A few special shares, including American
Coal Products and Pittsburg Coal common
and preferred rose 1 to 3 points, and Beth
lehem Steel responded to the company's pol
icy of expansion by an advance of 10 to
47!).
Ralls and motors were under moderate
restraint, but other leaders, notably United
States Steel, held around the previous day's
final figure.
Some of the early gains underwent sub
stantial reductions in the late dealings, wnen
active selling of coppers and Crucible Steel
caused recessions elsewhere. Total sales of
stock amounted to 262,000 shares.
Sudden strength of sterling exchange was
attributed to the recent purchase of $23.
000.000 of United States Steel bonds, which
probably called for the purchase of bills on
London for that amount. Francs also hard
ened. but Italian exchange weakened.
Mercantile agencies reported "unparalleled
conditions" In various lines of commerce
here and at other centers of business dis
tribution. Advances In fabricated steel con
tinue and various articles of apparel are
quoted at higher prices. Railway traffic is
steadily increasing, with complaints of car
snortages.
Bonds ruled steady in today's market.
Total sales, par value. $1,645,000.
United States coupon 2s advanced . the
coupon 4s 14 and Panama 2s and 3s a point
on call during the week, united Mates reg
istercd 3s declined and coupon 4s !
Closing
Sales. High. Low. bid.
400 22 22 22H
80
1.200 71 70 70Va
1.800 2j B2 62
7111) K lifl
18.000 103 U 100 102
112
... 112,
1,200 127 127 3 27 V
300 !! 1114 192
18.000 90 80 90
102
6,900 109 108 Vi lOOVi
87
900 479 470 478
8
400 31 30 30
1.200 l!)Vi 1BS 168
2,900 55 05 55
900 62 61 61
12
94
S00 12RV1 128 128
900 39 19 19
11,200 60 59 59
400 45 45 44
8,200 81 80 80
15
6,000 47 46 46
1,000 37 37 37
3"0 171 170 171
200 120 120 120
45
300 21 21 21
103
200 17 17 17
6,100 47 46 46
300 110 110 110
800 26 26 26
200 77 77 77
122
'V.400 107 106 106
1.S00 37 87 87
14
4
122
1.60O 69 6 68
S.500 16 16 16
105
300 68 68 68
600 117 117 117
SO0 113 113 113
2,400 19 17 18
S'i
700 57 57 57
200 163 163 u. 163
9.000 25 25 25
"0 78 78 78
800 53 .12 52
700 100 99 99
200 20 20 20
2.200 147 146 146
1.000 58 58 58
207 V.
1.700 134 13.1 188
200 82 82 82
14,80 0 84 83 83
116
15.200 86 85 86
88
1.200 67 66 6
Tl
474
1.000 1 27 27 27
21.400 72 60 70
Alaska Gold....
Aliis-Chalmers..
Am Beet Sugar.
American Can..
American Loco.
Am Sm & Refg.
do pfd
Am Pug Refg..
Am Tel & Tel..
American Tob..
Anaconda Cop. .
Atchison
Baldwin Loco..
Bait & Ohio. . . .
Beth Steel
Br Rap Trans..
Calif Petrol....
Canadian Pacif.
Central Leath..
Ches & Ohio
Chi Gr Western.
Chi Mil & St P.
Chi & N W
C R I & P Ry..
ilno Copper. . .
Colo Fu & Iron.
Crucible Steel...
D & R G pfd. . .
Dlst Securities. .
Erie
General Elect...
Grt North pfd. .
Gr Nor Ore ctfs.
Guggenheim Ex.
lninois central.
Int Cons Corp..
Inspiration Cop.
Int Harv. N J . .
Ki C Southern . ."
Lehigh Valley..
Louis & Nash..
Mexican Petrol,
Miami Copper..
M K & T pfd..
Missouri Pac...
Nat'l Biscuit . . .
National Lead. .
Nevada Copper.
N Y Central....
N T N H & H. .
Nor & West. . . .
Northern Fac'lf.
Pacific Moil
Pac Tel & Tel..
Pennsylvania . .
Pull Pal Car...
Ray Cons Cop. .
Reading
Rep Ir & St. . . .
Southern Pacif.
Southern Ry...
Ptudebaker Co.
Tennessee Cop..
Texas Company.
Union Pacific. .
do Pfd
U S Steel
do pfd
Utah Copper. . ..
western union.
Westing Elect..
Montana Power.
General Motors.
Wabash B pfd. .
I.Mnrlnn nto..
Total sales for the day, 262,000 shares.
BONDS.
XT S ref 2s reg. !! I Northern Pac 3s. 6614
V S ref 2s coup. :'
Pac T & T 5s..1
I- S 3s reg trz
T'enn con 4s....l06
South Pac ref 4s 90
dovcv 5s 105
UnlonPac 4s... 97
1; s 3s coupon. 102
U S 4s reg 110
V S 4s coupon.
Am Smelts 6s. .inn
do CV 4S 94
itrhlson een 4s94TT S Steel 5s 104
V V C een 3V.S.115 I Anglo-French 5s. 94
Northern Pac 4s 93 I
Bid.
Minins; Stocks at Boston.
BOSTON, Feb. 19 Closing quotations
Allouez 72"Hl.vionawK
Am Z, L & Sm. 81 ;Xipissinir Mines.
Ariz Com 9 North Butte
Calumet & Ariz. 74 Old Dora
95
6
29
70
3
11
21
Cal & Hecla 5SO Osceola
Centennial 1(1 'Shannon
Cop Bee Con... fin upenor
r,.i ntta Con 14 16 1 Sun Al Bos Mln.
3
Franklin 10 Tamarack S3
Granby Con 92 U S Sm, R & M. 63
Is e Roy fCOP). 00 piu w '?
Kerr Lake 4lwlnona 4
Lake Cop 17 i Wolverine 66
Money. Exchange, Etc.
NEW YORK. Feb. 19. Mercantile paper.
3(93 per cent; sterling. 00-day bills,
$4.71; demand. $4.76, cables, $4.77.
Bar silver .-o"Sic.
Mexican dollars 43c
Government bonds steady; railroad bonds
steady.
SAN FRANCISCO, Feb. 19. Sterling, 60
days. $4.72; demand. $4.76; cables.
$4 T7. . . .
Mexican dollars, 41c; ararts, aignt, x: no,
telegraph. 3.
LONDON, Feb. 19. Bar silver, 2d per
ounce. Money, 44 per cent. uiscount
rates Short bills, 5: three months, 5
per cent.
SURPLUS AT NEW YORK REDUCED
Excess Reserve Is Lowered Nearly Seven
teen Millions.
NHW YORK, Feb. 19. The statement of
the actual condition of clearing-house
banks and trust companies for the week
shows that they hold $152,008,540 reserve In
excess of legal requirements. This is a
decrease of $16,814,410 from last week. The
statement , follows:
Decrease.
Loans, etc 3,S4O,164,000 12,622,0O0
R,s.rvR in own
vaults t512.807.000
14.287,000
2,959,000
511,000
98S.O00
3.1O8.000
217,000
Reserve in Federal
reserve bank....
Reserve In other
188,100,000
depositaries 59,OS2,000
Net saving depos- ,.,
its 3,414.559,000
Net time deposits. 153,3i;7.0OO
Circulation 33,865,000
Increase. tOf which $443,553,000 Is specie.
Aggregate reserve, $739,989,000. Excess
reserve, $152,000,840; decrease, $316,814,410.
Summary of state banks and trust com
panies In Greater New York not Included
In clearing-house statement:
Increase.
Loans, etc. $664,090,900 $5,161,700
BneHe 56.384.70O 760,000
Legal tenders. 9.115.200 402.000
Total deposits S65.11S.200 4.726.800
Banks' cash reserve In vault, $11,595,700.
Trust companies' cash reserve in vault, $53,
001,600. Storks Neglected at London.
LONDON, Feb. 19. American securities
i ......
prices showed Irregular changes.
RESERVES ARE INCREASED LV WEEK
Gain of About One Million Reported by
Federal Banks.
WASHINGTON. Feb. 19. An increase of
shout 1 OOO.UOO in reserves of the Federal
banks during the past week Is shown in a
statement ot tne oanKs- cunumuu. --y
IS, issued today by the Reserve Board. It
shows:
Reserve
CnM end certificates In
vai.li. $235,361,000
Gold settlement fund 81,418.000
Gold redemption fund witn ,,,
United States treasury I.o00.wo
Legal tender notes, sliver, etc...
Tutal gold reserve o3S,Jl,Ooo
Total reserve
Bills discounted and bought-
Maturities within 10 days
From 11 to 30 days
From 31 to 60 days
From 61 to 90 days
Over MO dajs ". ...
358,591,000
.".087.0OO
l:l,l.i3,oou
ls.224.lhiO
13.060,010
2.42S.OO0
Total 52,814,000
T n v t TYi n t h
United States bonds - $ 28.42,00
Municipal warrants J-l,,H-,tw
Total earning Hssrta luVJOu.lM'O
Federal reserve notes, net yb,370,Ul0
Tinu f mm ViiriAral rpiwrvfl ria.nks.
net 12.255.000
All other resources 7.1120,000
Total resources $509,551,OO
Cnt.llai naid In B4.8Sfl.OO0
Government deposits 2.S.946.OO0
Reserve deposits, net 4M.4Wi.niiO
federal reserve notes U.OMI.IHM)
All other liabilities 140,000
Total liabilities $500.551.0K1
Gold reserve against net deposts and note
liabilities. 76.5 Per cent.
Cash reserve against net deposit and note
nubilities, 80.1 per cent.
Cash reserve against net deposit liabili
ties, after setting aside 40 per c. nt gold re
serve against aggregate net liabilities on
Federal reserve notes in circulation. 81.5 per
ceut.
LUCK OP MARKET FEARED
ARGENTINE WHEAT GROWERS ARE
APPREHENSIVE,
Immense Crop Available and Tonnage
Employed la Elsewhere Freight
Hates Are Advancing.
Writing upon English wheat market con-
mtions ana tne general grain iruue umiw-.,
the London corresponuent tit tuo nunuxwi
ern Miller says:
Although tho British government has
hitherto endeavored to ease the pressure
for tonnage working from your side, ana
has ke'bt the rate for some time past down
to 13s 6d per Quarter to the Bristol Channel.
the figure has now risen to 15s, or about
f:l 10s ner ton. which Is about half the
rate for the longer voyage from South
America (the pre-war rate was 2s 6d per
quarter). Business iB on every hand re
tarded by the shortage of boats, and 150s
per ton is now quoted for January-February
loading from tho Plate, against 12s before
the war.
It Is estimated that the Australian ex
portable surplus will require 1000 vessels
to carry it to Europe, and that a portion of
this tonnage has not as yet been secured.
It may be taken as an indication of the
position that tho Victorian Minister i
Aericiiltu m Is renortcd as having sold a
cargo for March shipment to England at
07s lid por quarter. Nevertheless, the mar
ket Is tu some extent influenced by the
prospect of ample supplies, and It appeal's
to entertain hopes mat mere win m m.
some way out of the tonnage tangle.
In Argentina immense quantities of wheat
will shortly be available for shipment, and
His ahlnner in that uuarter Is disturbed
v... Dnr,i,.n,i,ina that with Britain in
position to draw fully adequate supplies
from her over-sea dominions, the Argentine
producer will be left in the lurch, espe
cially as the period for shipment from
Argentina colnciaes witn 1110 mno ........
tnnnuVA u-ll he fiillv occuuied in carrying
to British ports grain from Australia, India,
Canada and North America.
Britain showsherself willing to accom
modate her requirements to circumstances,
.. j , , ,he iui oiMi tons of wheat
purchased in Aurtralla for the British and
French governments is intended to come to
Ttrituin (n the ihaue of flour at the rale
of 20,000 tons per month. These con
siderations naturally induce confidence In
the tr.ie tht somehow the tonnaRO prob
lem wili have u solution, and that .values
need not b supported on the hypothesis of
a possible shortage 01 actual suppuca
breadstuffs.
Shipments were this week rather m:re
liberal at l,4)0,Oli) quarters, the lion's share
of which is credited to the United States
and Canada. The proportion going to the
Continent continues large, but there Is swive
Increase In the quantity bound to te
United Kingdom.
In the United Kingdom a spell of finer
weather is enabling farmers to push on
with field operations, and better progress
has been made with seeding, but in some
places the wort Is still backward, and
owing to the wet December the area is
6 to 7 per cent less than last year.
In France the rains have been less heavy
and less general, but the reports from dif
ferent districts vary considerably. The
heavy land remains too wet for the well
being of the plant, and a period of fine,
seasonable weather Is necessary In order
to avoid damage to tha young sowings. On
light soils, however, the condition of the
crop is very satisfactory.
In India light rains have been welcome,
but In many" districts further rains are
urgentlv required, and. according to mall
news, the lack of moisture is becoming a
serious drawback.
Latest Australian advices are, so far as
the market is concerned, of a distinctly
bearish character, as threshing results are
eminently satisfactory, and the yields are
reported to l.e sensibly lamer than pre
viously expected The Increased out-turn
will make the total Australian crop 21,
750,000 quarters.
In Argentina the weather has been more
favorable for the harvest, and threshing
returns are satisfactory. Rains nre re
ported in some sections, but the agricultural
outlook has uot been seriously compromised.
Preliminary estimates show an Increase of
2n2.000 tons on the year, at 5.012.0O0 tons.
The export surplus Is therefore cMimaie.
52,000
at il.-.ili,U'nl tons, ctiiiiii":u i m
shipped In 1915.
3-CEfJT HOG RIDICULED
CORVALLIS PROFESSOR SAYS COST
WILL APPROXIMATE 6 CEXTS.
Criticism Made of Those Who Publish
Inaccuracies Helping to Add to
I. Int of Failures.
OREGON AGRICULTURAL COLLEGE.
Corvallls, Feb. 18. (Special.) "Statements
recently made by men supposed to Know,
that hogs may bo raised In the lllamette
Valley for 3 cents a pound, are certainly
misleading and If folluwed out will bring
discredit on the entire mowment for better
agriculture in the Northwest," said Profes
sor Potter, of the department of Animal
Husbandry of the Oregon Agricultural Col
lege. In commenting on reports of the form
ers' and stockmen's excursion to the Port
land Union Stockyards last Monday.
To tell a group of farmers that they ao
not know how to feed because they say they
cannot raise hogs for less than 6 cents is
surely not complimentary to the farmers,
many of whom have devoted much tlm-a,
money and thought to the hog problem. The
Agricultural College is working hard on the
hoir situation and we want to do everything
we can to encourage the hog producers, but
already tho greatest difficulty with which
we have to contend is tne mistaicen laea mat
does not cost much of anything to raise
ulg. This idea has led many to go into
hog-raising on a scale and under conditions
which doom them to failure from the start.
This failure discourages others who ana
really located where they could make a sat
isfactory profit out of a few hogs.
"Hogs must bo fed a considerable amount
of grain under the most favorable conditions,
but one time with another the profit must
come out of the waste products that are fed
with the grain, such as skim milk from the
dairy farms, waste fruit from the orchardB,
and the stubble and waste gr.ln from the
fields. Under such conditions Oregon can
produce all the hog8 the local markets will
handle and produce them profitably at cur
rent prices of hogs and feed. Where the
producer does not depend upon the market
ing of some waste products through his
hogs he cannot expect better than to break
even, unless there Is a radical change in
market conditions, a change which cannot
reasonably be expected, since the relative
prices of grain and hogs are now abouA
normal and while changes are to be expected
they are Just as likely to go one way as the
other."
Elgin Butter Market.
ELGIN. III., Feb. 19. Butter Higher; 75
tubs at 33c and 50 tubs at 3 -lie
STOCK TRADE WAITS
International Situation Is Re
straining Influence.
MEXICAN AFFAIRS WATCHED
Week's Tranisfcrs at .cw York. An
on Reduced Scale; loniesllo In
dustrial Kcporls of Highly
Favorable Clin racier.
NEW TTOniC, Fc. in.FnriRn lfiil
acaiti obtrutied th'ni!tlv,i In I hi urt K
1 ull and IrrffUiar market. Hvvnl nC
diplomatic dlsotiDtvlonM w ith Ifrirmny nv.-r
th mw submarln policy propourd by thnt
roil n try and lift principal ally, t hcrrby de
laying pet t lemon t of t h iiHltanln contro
versy, cauMt'd fresh mtKtviiint. hlt:h wr
further complicated by th n t tttudn of t h
Scandinavian countries in their relation
with tireat Brltuin. Thii wa part (nil v
offset by KtiJ'sla'a reported vilorv In Aid
Minor und by authoritative denial of any
Intention by the British treamuy to inl"til
n.crioan Hecurltlea on the market.
Mexican affair wer once nir nifft
elently alurmlnjt to etv tnipreiiN upnri
the share of companies having Import an f.
IntereM In that republic. IntlrnailonB of
an early col lappa of the de facto jovrn -merit,
partly by reupon of It inability II
aecuro financial support, occnuioned no mir
prltto In well-Informed circled.
(Jeneml trad condition were, maintained!
at a hlph level of propnerit v. Inquiry for
ntoel and Iron, aa well a copper and otht-r
met a Ih, w as tin a bated, wit h f tirt her prlert
revision for those product. onrurrntt,
copper shares and allied stocks wero un
usually active, with numerous hlRh quota
lion.
Kail and other standard Issue pnfferel
from the neglect of recent weeks, but de
noted a firmer undertone. In the latt r
dealing. ;roK earnings of tho U-adtnir esr
rlors for January and the current mont'i
Indicate a continuance of the remsrkM net
return reported In tho latter part of 1l"t.
Another factor that militated aalnt
value was the market's we:ik technical
condition, arising largely from a long over
exertion of tho bull account. Speculative
holding were so well margined, however,
a to cause little forced liquidation.
Several new financial undertaking. lrei
In the acgrerato and including more for
eign loan or credit, pointed anew t'l
thl comtrv Increasing power as the center
of world finance.
COFKEK HTfRKS MA RK KT IS Fl BM
Trader Doubt KITerl of T we of nraillisn
Steamer.
NBW YORK, Feb. lrt. Thre w as a re
newal of vesterday's cHinc rnovememt at tho
opening of the market for coffee future to
day, but offering wre less activ, wniui
thero appeared to be a bettor demand at
tho oponin decline of from 3 to tf points.
May contract sold at 7. "7c. durln the flnt
few minutes, while September eold at 7 .4M;
or about MO to S.i points under the hipher rec
ords of last W einejcmv. nere emea i'
be tome doubt, however, as to wneiner tno
use of Brazilian government boats lVn
coffee trade would result in another casni
of freight rates.
Tho market varied sharply during th
morning on covering, and & moderate demand
from trado sources. May contracts soia ur
to 7..SSn and September to K.o.sc, with the
close firm at a net advance of n to potnia.
Sales. r.4.-0( hJKb. February, I.ic; Marrn,
7.7Wc; April, 7.84c; May. 7c; June. 7 ii.t ;
July. 77c; August. H.!c; Peplember, Jyotio;
October. 8.11c; November, tf.loc; Uucomner,
8 -"c; January, h.-lc.
Spot coffee, steady. Itlo 7s, t:4c; hantoa
4s. lOKc.
No fresh oners were reponen in tne
and freight market. The official caMes re
ported an unchanged tnarkot at Santos, with,
a decline of 75 rels at Hlo and ot ia
tho rate of Itio Exchange on London.
Metal Marker.
NEW YORK, Feb. 1J. The copper mar
ket continued very firm, with quotations
for delivery this side of June practical I y
nominal at is.oc. while agencies quoted
from -.'7c to :7.50e for June and later ce
ll veries.
Iron, unchanged.
- - i
Chicago imirj Produce.
CHICAGO. Feb. UK Butter Higher;
creamery, JM'Tj.iJ'c.
Eggs, lower; receipts. Tfl cases; iirsrw.
2'J (u :ic; ordinary firsts. 'Jlv--c; c
murk, cases included, -ftir-3c.
Cotton Market.
NEW YORK, Feb. lit Spot cotton, quiet j
middling upends. 11.4.V. No b:1ch.
OVERBECK &
COOKE CO.
Brokers,
block,. Bonds. Cotta.
Orslo. k,tc
H(l-il7 BOARD OF TRAIIB BLIMV
UU1U1U CHICAGO UOABU Ut
Correspondents of lon A Brjss.
Chirac and New Vara.
MEMBERS
Unc Tork Htork Eirhsnca.
Chicago Ntork ICirhan...
BoIon Block En hangs.
1 hiraKK lloard of Trails.
Nrw Vork Cotton Kirhanra,
w Orleans ("lion ri'hjsis
N lurk loffr. Eirbanao.
New lorl frodur. KicUaasS,
iverpKl Cotton Ass'.
FOR SALE
t'lKTY SHAKES
Associated Fruit Growers
or nooo itivcn.
tH.id rUU 9HAHEU ,
BOX AM lift. OUfebOftlAN.
TIIK OIl LOT HKVIKW. written .tpo
cltttlv for ths amiill !nv.lir, tlln In pisln
Ivnxlmh of N. w York Stock Kxi :lino ou.
norttuiltlcs. $1 s year, bend for ainpls
ropl John Mulr & Co.. til Uruadway,
Now York City.
TKAVn.MIS- C.CIDK.
Tak. a Trip (a
HONOLULU
Suva, New Zealand. Australia.
On the Palatial I'sasunser Steamer,
NIAGARA MAKIRA
(2U.U0U tona) (U.OUO too,)
Sailing from Vancouver. B. C.
Makura. ..Feb. 10! I II Makura. .. April 1
Nlacara. .Mar. loll " Niagara. . ...Mar IV
And Every Zs Days Thereafter.
Send for particulars of our
ROOD PACIFIC TOCR8
and all other Information to Canadian
I-aclfle BuilHay 55 Third St.. Portland,
or to the Canailian-AuHtrallau Royal Mall
Line. 4o Seymour bu Vuucouv.r. B. C.
Today. 1:30 I. !.. February 30,
ban ft'raoclM'o, forti!tnd X Low An.e
lee htea uifchip Co.. .rank Kollum. v-t
U i Third bt. A 40. Mala SH.
0LEAMIC i.S. CO'SipIidKl in.UMInih.iii.
irrw American .cimni j il.iv tw , , ,..-
tub " I Uk KM) A I I. ?iitmo ever t 21 riv.
SYDNEY or return vi. SAMOA HONOLULU f 37.50 I i,
CI., indudm, CHINA-JAPAN S575.0O. To HONOLULU
5c5 , ncture owen f en.,.iar.i,Apr.i I
I rrrff. I'mnK-
" '-Lf snwvt.M. r.
VKVtu Uia
i