TTIE SUNDAY OREGOXTAX, POETLAIfD, MAY 13, 1917.
i;
WHEAT STEADY HEBE
Local Market Not Affected by
Chicago Action. "
TRADp WAITING OUTCOME
Supply In Xortnwest Too Iilmited
for Large Movement to East,
Where Cash Prices Are,
Sharply Illgner.
"he action taken by the Chicago board
in relation to May wheat trading and the
coarse of the market on the later deliveries
had bo effect on prices here. At the Mer
chants Exchange the disposition was to sit
back and await developments. Otters tor
fortyfold -and red Russian are raised 1 cent.
out bluestem and club were unchanged. J
Cash markets In the East were strong
and higher as a result of the suspension of
trading In the May option and sales at some
points were made as high as 13.50. The
only Eastern demand for Western wheat
was for spot cars and few of these were
available. The movement from this end is
still restricted to export wheat. In about
two weeks practically all of this grain will
be out of the way, but no trading for ship
ment beyond that date has been undertaken.
There Is not enough unsold wheat In the
Northwest anyway to allow for much of a
shipping movement to the Eastern states.
Sealers figure that all that remains here
will be needed before new wheat comes in.
The trade here was not surprised by the
suspension of May speculation at Chicago,
but they do not understand why the order
was not extended to the other deliveries
as well. They regard the action of the Chi
cago board as a bullish factor and look for
a steady advance -in cash markets, under
the pressure of foreign competition.
The oats market Is holding steady. Two
hundred tons of May oats weer sold at the
exchange at $53. Barley was quiet.
Local receipts of wheat In the past week
were the largest of the season, amounting
to 848,000 bushels. In the corresponding
week last year receipts were 107,900 bush
lers. The large .arrivals are for export.
The Liverpool grain cable said: "Wheat
easier on expectation of larger shipments
and more liberal offers. World's consump
tion greatly reduced. Corn firm, with export
offers light and arrivals In demand. Oats
dull and steady. Flour very Arm. Arrivals
light. Consumption keeps pace with all mill
offers."
Terminals receipts. In cars, were reported
by the Merchants Exchange as follows:
Wheat Barley Flour Oats Hay
Portland. Sat. 13 1 8
Year ago 15
to the S-cent mark, has held there and no
further decline is expected in the imme
diate future. California onions ara being of
fered under the price of Texas stock, but
the demand is chiefly for the latter. Local
and Walla Walla asparagus will this week
take the place of the California article.
New potatoes are slowly decinlng in j
price. The market' for old potatoes con
tinues weak.
LARGE LOCAL EGG BUYERS ARE OCT
Market Closes Easier. Although Receipts Are
Declining.
The easier tendency of the egg market
continued yesterday and a still lower price
is looked for In the coming week unless the
large buyers re-enter the market. Dealers
do not believe prices will go under 31 cents.
Receipts are not -as heavy as a week ago.
The butter market was unchanged at the
close. The tone wu firm and the demand
was good.
Poultry and dressed meat receipts were
small yesterday. The former line was weak
and the latter firm.
Soap Prices Advance.
All around advances were announced In
Eastern soap prices yesterday. Leadiug
brands of soaps, which heretofore retailed
at 5 cents ne cake, are now quoted by Job-'
bere at taat price. '
Bank Clearings.
Bank clearings of the Northwestern cities
yesterday, were as follows:
Clearings. Balances.
Portland 3.3l.o:)2 202.2-'6
Seattle 4.307.510 715.451
Tacoma. 684.211 153.D71
Spokane 1.03b. 152 118.B88
Clearlnes of Portland. Seattle and Ta-
coma for the past week and corresponding
week in former years were:
Portland. Seattle.
17.675,15a $20,5t4.031
RISE NOT CHECKED
Total this wk. 308
Year ago 83
fcean to date. 5543
Year ago 9U33
Tacoma, FTi... 47
Year ago 7
Sea n to ' date. 5013
Year ago 6693
Seattle, Friday. 27
Year ago 11
Bea'n to date.4S88
Year ago 7551
1
19
239
1511
123
499
"
815
1274
5
83
25
1354
1750
7
9
1579
1966
28
11
2194
978
8
8
808
358
1
' 2
1148
1007
8
7
86
51
2426
2404
19
5
1958
2255
14
10
8701
4094
APPLE FRUIT RATE RISE PROTESTED
1917. ..
1916...
1915. ..
1914. ..
1913...
1912...
1911...
1910. . .
1909...
19(18.
1907. . .
1UUG. ..
lUOS. ..
13.217.994
10.093.611
10.130.388
11.195.04O
11.510.811
10,188.689
10.679,847
6,640.879
6,593.190
7.138,655
4,609,891
4,073,501
15.3S1.697
Jl.5a2.112
12.JO3.920
13.419.635
11.488,495
11.140.876
10.5112,260
10.465.539
7.550.306
. 9,468.235
8.570.705
4,874,993
Tacoma.
$2. 904.630
2,397.970
1.974,492
2.327.966
2.773,333
4.563,2t8
3,935.414
4.668.024
5.584.936
4.080.874
4,868.039
3.702.147
8,250,027
fOBTLAXD MARKET QUOTATIONS
Grain, Flour, Fend. Etc.
Merchants' Exchange, noon session. May
Extreme Advance of 32 Cents
in Chicago Wheat.
crate, fi075c; Bay peas. $1.501.75: Mex
ican tomatoes, 81.50&2; Florida green pep
pers, 20&3Oc; California garlic. 163c: green
onions. 81 61.15; Bay rhubarb, 75cSl; San
Jose, $1.2591.35: hothouse cucumbers, $1.25
r2; natural. $1.252; new-crop wax beans,
710c; Southern string. 7 Sc.
Potatoes Rivers. $3.7594; Oregon Bur
banks. $3.7504; new. 4jg.c.
Onions Australian. $5.50&e: crystal wax.
22.50.
Fruit Cherries. $101.23: strawberries.
Longworths, $507; banners. $405: Southern
crates, 75c & II; blackberries, $1.75L8o
crate; raspberries. $1.75(12.
DIRECTOR ACTION BULLISH
Bid
Yr. ago
$ l."4
.94
.93
.03
27.00
26.75
Bid
$ 3.02
, 2.99
2.U8
, 2.98
,.; 64.00
, 61.00
straights. $12.50
Eld.
.$ 3.02
. 2.99
. 2.98
. 2.98
. 62.50
. 02.75
Increased Railroad Tariff Would Injure
Northwestern Growers.
J. Curtis Robinson, chairman of the trans
portation committee of the Fruitgrowers"
Agency and traffic manager of the North
west Fruit Exchange, left Seattle Friday
for Washington to extend the freight rate
hearing being conductsai by the Interstate
Commerce Commission, and to lodge a pro
test against any Increase on Northwestern
fruits. Prior to leaving Seattle. Mr. Robin
son said: "Bankers, business men. growers
and shippers, who have analyzed the eco
nomic position of the 'fruit industry of the
Northwest, are unanlmoua in the belief that
any Increase in freight rates applying to
Northwestern fruits spells ruination to
hundreds of growers anjl to whole regions
now devoted to fruit growing. At present
freight rates the Industry staggers under
a terrific economic handicap. Over 80 per
cent of the apple production of the country
lies in the Eastern and Middle-Western sec
tions, close to the consuming market. At
present freight rates It costs $1.65 to $1.99
per barrel to deliver our apples to the aver
age of our markets. Eastern and Middle
Western growers can produce and deliver
their fruit, packed in barrels, on board cars
at our present freight rate and make a
profit. Other elements of cost in the
Northwest are already so high that an In.
crease in the present freight - rate1 looks to
all who are' students of the economics of
this Industry as the straw that will break
the camel's back.
"The Agricultural Department is taking
a very aggressive stand In regard to the In
crease of food production, and we propose
to show that the imposition on the North
western fruit Industry of a greater transpor
tation burden would not only discourage the
lncreaae of production, but would result
very rapidly in the elimination of a large y
part or. tne present proauction.
delivery :
Wheat
Bluestem ................
Fortyfold
Club
Red Russian .............
Barley No. 1 feed........
Oats No. 1 white feed...
Kutures
June Bluestem ...........
June fortyfold
June club
June Russian
June oats
June barley .......
FLOUR Patents, $13.70:
012.90; Valley. $12.70; whole wheat, $13.90;
graham, $13.70.
MILLFEED Spot prices: Bran, $44 per
ton; shorts, $47 per ton; middlings, $54;
rolled barley. $58: rolled oats, $58 per ton.
CORN White, $72 per ton; cracked. $73
per ton.
HAY Producers' prices: Timothy. East
Oregon, $30 32 per ton; alfalfa, $20 023;
Valley grain hay, $18 020.
Dairy and Country Produce.
BUTTER Cube. extras, 86Hc; prime
firsts, 85 He. Jobbing prices: Prints, extras,
88c; cartons, lc extra; butterfat. No. 1,
38c; No. 2. 36c. '
CHEESE Jobbers' buying prices, f. o. b.
dock, Portland: Tillamook triplets, 24c;
Young Americas. 25c per pound; longhorns,
25c. Coos and Curry, f. e. b. Myrtle Point:
Triplets. 234tc; Young Americas, 24c per
pound; longhorns, 24 o per pound.
EGGS Oregon ranch., current receipts.
82c per dozen; Oregon ranch, selects. 83c
per dozen.
POULTRY Hens, 17 18c per pound
broilers, 20023c; turkeys, 22 & 24c; ducks,
22 'ft 23c; geese. 12613c.
VEAL Fancy, 1515t4c per pound.
PORK Fancy, 19 19 Vie per pound.
Excited Buying as Result of Meas
ures to Stop Upward Flight of
Prices September Option
Leads in Grain.
CHICAGO. May 13, Excited buying of
wheat, far from being diminished, took on
wilder aspects to any because of drastic
measures to stop the upward flight of
prices. The market rose quicker and further
today than in all the rest of the week
put together. There was a flurried close
at the topmost point reached, a net ad
vance of 22 to 29 cents with July at
$2.73 to $2.75 and September at $2.44 to
$2.46. Corn gained lc to 3c and oats
Me to 2c. Provisions finished unchanged
to 12 He higher.
Fright seized traders in wheat as soon
as the fact became evident that the over
night action of the exchange directors in
barring all transactions in May delivery
had not brought about any pronounced
bearish effect. Issuance of an official state
ment explaining the action of the directors
in prohibiting all further business In May
wheat contracts , was construed in some
quarters as indicating that the supply and
demand situation was even more bullish
than had been assumed. -
The startling: advances continued un
checked right up till the last gong, when
the extreme rise from the low point of the
day was 32 cents. The biggest jump was
In the Seritember ontion. which heretofore
had been relatively low because' both the
Winter and Spring wheat crops would oe
available in that month.
The confirmation of $3.18 as the official
selling price for May contracts was an
nounced Just prior to the last half hour of
trading, and it may be that tne violent
contrast between that figure and even the
advanced quotations for July and Septem
ber had some influence In causing tne-linai
ascent of more than 13 cents a bushel in
the 30 minutes Immediately preceding the
close.
Corn and oats were more or lees neglected
and did little but reflect in a distant way
the strength of wheat. In doing so. May
oats reached a new high level for the
season.
Provisions hardened In value with grain
and hogs. Quotations for hogs were at the
topmost record ever touched ana until
this season never before equaled.
Leading futures ranged as follows:
WHEAT.
Coffee Futures Quiet.
NEW YORK. May 12. Coffee futures were
very quiet this morning, with fluctuations
correspondingly narrow. Gloslng prices were
at the best leveJ. showing a net advance or
4 to 9 points. Sales. 6750 bags. May, 8.09c:
June. 8.19c; July,. 8.29c; August, 8.88c; Sep
tember. 8.43c; October, 8.48c; November,
8.53c; December, 8.88c: January. 8.64c; Feb
ruary, 8.70e: May. 8.76c: April. 8.82c
Spot dull.; Rio 7s, 10c; Santos 4s, 10 He
Very few firm offers were reported In the
cost and freight market, with Indications
pointing to slightly lower prices in Santos,
and unchanged quotations from Rio and Vic
toria.
The official cables reported a decline of
128 rela at Rio. with Santos futures 25 to 50
rets lower. Rio cleared 5000 and Santos
21,000 for the United States.
ALL GRADES ARE RIGH
PRESENT CATTLE TRADE CONDI
TIONS WILL NOT LAST.
Fruit and Vegetables.
Local Jobbing quotations:
TROPICAL ' FRUITS Oranges, navels,
2 4(3.25: lemons. 12. 75 64. 60 per box;
bananas. 5o per pound; grapefruit. $2.65
0 0.50.
VEGETABLES Artichokes. 85 90c per
dozen; tomatoes. $2.508 per crate; cab.
Dage. oixoc per pound; lettuce, fi.tog i.u;
cucumbers, 90c&$1.50 per dozen: caultilow
er, $l(g-1.75 per crate; peppers, 20&35c per
pound; rnuoaro, 2 4p8c per pound; peas, ovf
6c .per pound; asparagus, $1.2501.50 per
box. bocvrsl per dozen: spinach. 7c pound.
POTATOES Oregon, Jobbing price. J3.50
04 per hundred; new California. 10011c
nr tiound.
ONIONS Bermuda, yellow. . $3; white,
83.50 per crate.
GREEN FRUIT Strawberries. $1.50 02
per crate; apples. $L25 (k 2.50 per box.
Staple Groceries.
Local Jobbing Quotations:
SUGAR Fruit and berry. $8.75; Honolulu
plantation. $8.70: Grants Pass beet, $8.55
California beet. $8.55: extra C. $8.85;-pow
dered, in barrels, $9.30; cubes, in barrels,
$9.50.
SALMON Columbia River, 1-pound tails.
$2.75 per dozen; one-half flats, $1.85; one-
pound flats. $3.
HONEY Choice, $3 03.25 per ease.
NUTS Walnuts, 13022 tf; Brazil nuts.
21c; filberts. 22c; almonds, IB 20c; pea
nuts, loc; cocoanuts, $L10 per dozen; pe
cans, lTic.
BEANS California. small white. 17c
large white, 16Vc; Lima, 17Hc; bayous.
13Hc; pink. 14c.
COFFEE Roasted, In drums, 17 25c
SALT Granulated, $18.75 per ton: half-
ground, 100a. $11.50 per ton; 50s, $12.25 per
ton: dairy. $16 per ton.
RICE Southern head, 99Hc pound; blue
rose. 8Wc: Japan style, 7li7lc.
DRIED FRUIT Apples. 1214c; peaches. 10
11c; prunes, Italian. lOfefllZifcc; raisins.
85c.'uf3 per box; dates, fard, $2.5008 per
box; currants, 19c; figs, $2 08.60 per box.
CENTRAL OREGON WHEAT IMPROVES
Situation Several Hundred Per Cent Better
Than Earlier Estimated.
"While at Maupln the latter part of this
week I carefully looked into the situation
with regard to the coming grain crop and
found the stand Is very good, about several
hundred per cent better than was earlier
estimated. The grain Is coming up very
well, and look for a good crop in that dls
trlct. Present weather conditions are fa
vorable to the growing grain," said W. C
Wilkes, assistant general freight and pas
senger agent of the Spokane, Portland &
Seattle Railway Company.
"Our reports from the east Indicate wheat
seeding In North Dakota is practically com
pleted and ether seeding is progressing rap
idly. Conditions have been exceptionally
good. The situation In Montana Is evi
dently very backward on account, of weather
conditions. Very little farm work was done
up to a week ago, but since that time the
weather has been favorable and rapid prog
ress was made. A large amount of wheat
was winter-killed, but It Is difficult .to make
proper estimate owing to the fact that the
weather was not quite warm enough to start
the plants growing and probably there was
not so much wheat Winter-killed as
thought."
W. J. Jordan, general agent of the North
ern Pacific at Lew 1st on. reports:
"Weather the past week has been fine and
farmers are busily engaged in farm work.
Fall grain In the Camas prairie district Is
.looking exceptionally good. No reseedlng
will be necessary other than a small per
centage of Fall-sown barley, and this only
applies to a small area around Nez Perce.
"In the territory tributary to Almota. Wi
wawal and Penwawa. fully 60 per cent- of
the Fall-sown grain will have to be re
eeded. In the Palouse territory farmers
are awaiting on the weather to see If the
grain that they find sprouted in the ground
will come through or not, A few days of
warm weather will demonstrate whether re
seedlng will be necessary. It will be Im
possible to give any accurate figures as to
the percentage to be reseeded In that dis
trict."
Hops, Wool, Hides, Eta.
HOPS 1916 crop, 86c per pound; 1917
contracts, nominal.
HIDES Salted hides (25 pounds upT, zOo
salted stags (50 pounds and up), 16c; green
and salted kip (15 pounds to 25 pounds).
20c: green and salted calf skins (up to 15
pounds), 82c; green hides (25 pounds and
ud). 16c: green stairs l&u pounds and upl.
13c; dry hides. 84c: dry calf, 40c; salt hides,
29c; dry horse hides, $1.50 2.50; salt horse
hides. $305.
PELTS Dry long-wooied pelts, hoc: dry
short-wool pelts. 25c; dry sheep shearlings.
each 15080c; salt sheep shearlings, each
250 50c
WOOL Eastern Oregon, Tine. 400 per
pound; coarse. 45 50c; Valley, 450 50a.
UUnAlAtlu tt odc per pouna.
CASCARA BARK Old and new, 6H0 per
pound.
TALLOW NO, 1. iz in mo per pound.
BERRIES MOVE AT LOITER PRICE
Market Wen Supplied With Local and
Southern Vegetables.
Strawberries cleaned up well yesterday,
but at somewhat lower prices. Most of the
Dollars offered sold at $1.75 01.85. Small
izo oranges were quoted lower. Another
car of Florida grapefruit Is In transit.
California lettuce Is arriving at the rate
nf two or three ears a day and Is selling
at stesdy prices. Cabbage, after dropping
July
Sept.
July.
Sept.
July
Sept.
May
July
July
bepc
Open.
..$2.48
.. 2.14
High.
$2.75
2.45
CORN.
Low.
$2.46
2.14
146
1.38
1.50
1.42 44
1-4814
1.38
OATS.
.fl.'.H .67 V,
.66 S .58
MESS PORK.
.65
.6514
. ..39.00
..22.50
..22.62
39.10
LARD.
22.50
22.05
28.87
22.40
22.62
Close.
$1.73
2.44
1.49
1-41
.87
.58
88.80
39.90
22.50
22.62
FINAL PRICES BEST
Stock Market Recovers From
v " Early Depression.
TRADE IS PROFESSIONAL
Exchange on Russia Recovers From
Friday's low Record Bonds
Are Inactive, With Trac
tion Issues Heavy.
NEW YORK. May 12. Weakness of rail
road shares, with St. Paul common down
ftlmoct K nelnti to 70. the low record for
more than a decade, was the primary cause Jfet time deposits.
of additional unsettlement during the first
All other resources
Total resources
Liabilities
Capital paid in
Government deposits ......
Due to members reserve
count ...... .........
Collection Items
Federal Reserve notes net.
All other liabilities
8.078.000
..$1,209,162,000
. .$ 56.859. OOO
242.421.000
fr 740.728.000
134.447. Oihl
23. 975. OOO
.. ' 10.734.000
WOOL TO GO HIGHER
Total liabilities $1,209,182,000
Gold reserve against net deposit and note
liabilities. 66.9 per cent.
Cash reserve against net deposit and note
liabilities, 71.2 per cent.
Cash reserve against net depostt liabili
ties after setting aside 40 per cent gold re
serve against net liabilities on Federal Re
serve notes in circulation. 72.1 per cent.
EXCESS RESERVES ARE INCREASED
New York Bank Holdings Cain $56,000,000
la Week.
NEW TORK. May 12. The statement of
the actual condition of clearing-house banks
and trust companies for the week shows
that they hold $147,199,000 reserve in excess
of legal requirements. This la an increase
of $56,720,930 over last week. The state
ment follows: Increase.
Loans, discounts. etc.$3.812.011.000 $28,543,000
Reserve In own vaults 44S.476.00O 36,560,000
Reserve In Federal
254.787,000
TARIFF WILLAID MARKET
Reserve Bank.
Reserve In other de
positaries Net demand depos
its
la
Long; Ran. Only Q.nnlHy In Beef
Production Will Be Found
1 Pny. " '
There was a good run at the stockyards
on the closing day of the week, but trading
was of very small proportions. Prices held
steady at the wind up In all lines.
Receipts yesterday were: 407 cattle. 42
calves. 287 hogs and S3 sheep. Shippers
were: H. W. Wright. Corning. Cal 8 cars
cattle and hogs; J. Kennedy. Dillon, 11 cars
cattle; J. Howard. Heppuer. 1 car cattle;
J. Boomer. Momlta. 2 cars cattle; C. E.
W.
Provisions.
HAMS All sizes, choice, 80c; standard.
29c; skinned, 27028c; picnics, 23c; cottage
rolls, 270.
LARD Tierce basis, ketle rendered.
25Hc: standard pure, 4Ho; compound, 19c.
BACON Fancy. 88 0 89c; standard. 35 0
36c; choice, 28 0 84 tea.
DRY SALT Short clear backs. 25027c:
exports, 25 0 27c; plates, 22 24c.
SPARE RIBS.
July :. 20.77 20.82 20.67 20.82
Cash Drlces were as follows:
Wheat. Nos. 2 and 8 red and No a. 2 and 8
hard, nominal.
Com. No. 2 yellow. $1.6701.68; No. S
yellow. $1.05 01.67: No. 4 yellow. $1.64Vi.
Oats. No. 8 white. 72&73Vi: standard.
72 74V.
Rye. nominal.
Barley, $1.2591.63.
Timothy. $5'7.50.
Clover. S12 '-.
Pork. $38.80.
Lard. $22.37022.47.
Ribs. $20.52 0 24. "
CROP REPORT BASIS OF STRONG PRICES
New Records Established Dally in Chicago
Market.
CHICAGO, May 12. Every single day in
the last week has witnessed a big advance
in wheat prices, and on five days .out of
six the market smashed high records.. The
chief impetus came from the Government
crop report, telling of the largest abandon,
inent of Winter wheat acreage ever known
in the United Statea
Expectation of a bullish Government crop
report quickly supplanted bearish effects
which had resulted from word that the au
thorities at Washington and Ottawa were in
agreement on a Joint effort to control wheat
prices. Concern over difficulties of securing
ownership of enough wheat to fill outstand
ing contracts for May delivery tended fur
ther to lift prices prior to the lsuance of the
Government report. It was not, however,
until the day the report was given out. and
especially on the day following, that the
most astounding upturns in value took place.
Trade anticipations of the Washington fig
ures proved to have been far too conserva
tive, as the official estimate put the short
age In the United States Winter crop at the
huge total of 115.828.000 bushels.
Plans of the entente allies to take 88,
000.000 bushels from the United Statea by
July 1 received considerable notice in con
nection with the continuous advance in the
market. Talk by an American Government
official as to the possibility of prices reach
ing $5 a bushel was a factor in the upward
whirl of quotations. Throughout the week
the volume of transactions was greatly re
duced by the requirement of almost pro
hibitive margins. 60 cents a bushel or more,
and by the refusal of leading houses to ac
cept speculative trades, especially In the May
delivery.
Corn, as well as wheat, reached new alti
tudes in prices. Oats, like corn, were
strengthened by sympathy with wheat. Both
the feed grains, though, were held back by
auflpllus crop conditions.
Record advances in nogs ana cereals made
provisions average higher.
Minneapolis Grain Market.
MINNEAPOLIS. May 12. Flour Fancy
patents. 40c higher, quoted at $17.10; first
clears. 60c higher, quoted at $14.90. Other
grades unchanged.
Barley. $1.17 g 1.07.
Wheat. May $3.30: July. $2.94; Cash. No. 1,
hard. (8.4903.64; No. 1, Northern, $8,840
8.89; No. 2, Northern, $3.24 8.84.
Flax. t8.46Ss03.52Vi.
Eastern Wheat Futures.
DTJLUTH. May 12. 'Wheat closed: May,
$3.38; July, $2.89H.
WINNIPEG, May 12. Wheat closed: Oc
tober. $2.45.
KANSAS CITY. May 13. Wheat closed:
May. $3.27; July, $2.71; September, $2.41.
Lucke. Canby. 1 car hogs, sheep; S. Thomp
son, feprlngneld. 3 cars cattle.
The day's sales were as follows:
Wt. PrloA.I Wt Tr1f-
12 steers. 1197 810.00 1 bull 1390 $ 9.40
1 steer.. 1090 9.00 1 bull 1950 8.25
In discussing Quality in nroductlon and
marketing, the Livestock Reporter says:
"More and more, as the prices of live
stock and other farm products rise. It is
getting to be a matter of quality as well as
quantity that governs the margjn of profit
derived by the farmers. In the old days
when labor and land were cheap, this was
far. from being so. Take as an instance the
beef production of the range days. The In
vestment was small. Little land was owned
by the various raisers; It cost hardly any
thing more than labor to run a steer a
year or two. Any sort of animal that was
worth a cent would make money, but now
It Is a different proposition. It takes the
best-bred cattle to make the money nowadays.
While all grades of csttle have made
money during the past year, this condition
ill not continue long. On the Portland
market during the Winter have 4een re
ceived the largest runs of dairy-bred cattle
ever marketed here, many of which were
not fit tor beef. This condition, we believe.
will not last long, as farmers of the TV 11
lamette Valley have at last begun to real
ize that nothing but pure-breds of the beef
strain will pay. Cattlemen In the valley
have excellent opportunities In beef produc
tion and should now avail themselves of
few pure-bred beef sires since a large por
tion of the scrubs have been put out of the
way. Another condition that favors th
valley farmers is the available grass during
most every month of the yar.
"Cattle raising east of the mountains is
more on a feeding basis and It takes no more
feed to carry, over a good animal than a
poor one, and In most cases not as much.
"Quality not only proves successful In
livestock, but all other farm products. The
Northwest has proved to be able to raise the
best livestock and farm products produced.
Whether we will do It Is up to the farmer
himself.
"There Is money made In raising the best
only. The farmer who raises good live
stock, pure-bred beasts, can sell the bulls
at fancy prices. The question of quality is
Invariably also the way of solving the prob
lem of money In your pocket."
The origin of the livestock received at
the local yards is April was as follows:
Cattle. Civs. Hogs. Sheep.
Oregon .....4.899 456 14.763 2,340
fesslonal session. other transportation Is
sues were affected In lesser degree, trans-
continentals, coalers. Lehigh Valley excepted.
and Eastern trunk Unas making gross de
clnes of 1 to 2 points.
Leading Industrials, metals, motors and
the more active specialties yielded 1 to
2V points, but were among the first to
retround In the general covering tnat at
tended the later dealings. United States
Steel rallied from 114 to llttK. Final
prices In the main were at top levels. Sales.
225.00O shares.
Less lrresularltv nrevalled In the foreign
exchange market, rubles scoring further ad
vances to 27 V from yesterday's low rec
ord of 25.
Small dealing In bonds, with neaviness
In local Issues, featured today's operations,
total sales, par value, being $1,270,000.
United States registered 2s lost Vs per cent
on call during the week.
Liquidation of high-grade securities. In
ducing bonds, during the last week de
noted the concern felt by Investors In con
nection with the Government's attitude to
ward war taxation and revenues. Rails
of the better class were fa free supply at
concessions which caused some of these
issues to fall to lowest prices in IO to 20
years. Public utility stocks also weakened
under stress of developments. The United
states Steel statement for April, with un
filled orders at their highest point, an ail
around advance In finished steel and Iron
and resumption of Inquiry for refined cop
per offered further evidence of the un
abated activity In Important Industrial
lines. The various war issues held steady
in the face of frequent bear attacks.
Arrangements for the public offering of
the $2,000,000,000 loan have been per
fected to the point where danger of fi
nancial stringency Is no longer apprehended.
Keen interest was manifested in the
course of the hearings before the Inter
state Commerce Commission because of the
steady depreciation of values In transpor
tation shares. March earnings of a large
majority of railroads, aa compiled by the
Commission, disclosed enormous gross, galas
In gross revenues and an average net de
crease of 28 per cent, this extraordinary
reversal indicating the advance in operat
ing costs.
CLOSING STOCK QUOTATIONS.
22,007,000
59.951.0OO 723.000
8.573.235.000 8.954.000
200.845,000 9.096.000
28.680,000 26.000
Of which $409,477,000 Is specie: Ignited
States deposits deducted. $66,037,000; De
crease.
Aggregate reserve. $763,194,000: excess re
serve. $147,199,000; Increase. $56,720,930.
Summary of state banks and trust compa
nies in Greater New York, not Included In
clearing-house statement: Increase.
Loans, discounts. etc.$ 829.623.700 $ 2.9'.3.400
Specie .' 68.802.500 "18. 200
Legal tenders 10.9M3.7O0 73.700
Total deposits 1. 045.343.800 149. 700
Bunks' cash In vault. $15,410,000; trust
companies' cash la vault. $64,166,800.
Decrease.
WINTER FOOD SUPPLY
MUCH DEPENDS OX WORK OF HOME
OAR.DEXER.
Concerted Effort Will Produce Poten
tial Weapon Against Shortage and
IliKh Prices Later.
Idaho
Washington
California ........
Total
The disposition
918
68
, ..6.475
of the
51
1.4:10
677
1.313 .
697 19.188
stock sold
1.634
8.9S0
last
month was:
Buyers. Cattle. Civs. Hogs. Sheep.
Barton 203 ... 1.638 ...
Carsten 1)05 6 1.986 221
FalrchUd 77 1
Frye A Co. .......... 130 ... ... ...
Olll Co 129
Henry 4S ... 758 ...
Howlt 297 8 854 13
S at 0 158 1 193 30
Tacoma meat 109 4 318
Union 2.172 55 T.826 4.140
Butchers 158 8 12 204
North SO 2 8.848 2
Feeders
Wash 167 19 814 T2
Oregon 0,v 857 1.857 270
Idaho ...... 63 7 ... ...
Montana 98 23 ... ...
California I60
Misc. 92 2 8 ...
Total 6.816 489 18.607 4.952
Prices current at the local yards were as
follows:
Cattle
Steers, prime
Steers, good
Steers, medium ...........
Cows, choice
Cows, medium to gooa ....
Cows, ordinary to fair
Metiers
Bulls
Calves
Hoks -
Light and heavy packing .
Rough heavies ............
s'igs and skips ............
Stock hogs
SheeD
Lambs
Wethers
Ewes
Oils.
KEROSENE Water white, drums, bar
rels or tank wagons, 10c: cases, 18tt& 22o.
GASOLINE Bulk. 2iuc; cases. KOc: nap-
tba, drums, 196c; cases, 28c; engine distil
late, drums. 10 He: cases. 19o.
LINSEED OIL Kaw, Barrels. $1.82; cases,
$1.39: boiled, barrels. $1.34; cases, $1.41.
TUitPiiriiXNii an tanks, oc; in cases,
89c
Copper Prices Maintained.
NEW YORK. May 12. While business has
been somewhat less active, a fair demand
has been reported In the copper market dur
ing the past week and prices have been
firmly maintained. Quotations for spot and
nearby delivery of electrolytic were prac
tically nominal toaay, ranging from sic to
33c. while July also was reported scarce.
with quotations for the third quarter rang
ing from about 29c to 30c. Later deliveries
were quoted around 28c on the average.
Iron was unchanged.
Gray Harbor Apple Crop Heavy.
ABERDEEN, Wash., May 12. (Special.)
The Grays Harbor fruit crop, especially
apples and Winter pears, promises to be
the heaviest in recent yesrs. says R. M
Underwood, expert orchardlst. who has
been working in thts section for several
years. This Is despite the fact that the
blossoms are unusually late. Strawberries
snd canning crops, he says, give promise
of being up to normal, although they will
come mucb later man usual.
New York Sugar Market.
NEW YORK. May 12. Raw sugar, easy.
Molasses. 6.33c; centrifugal, 6.21c; refined,
steady; fine granulated, 7.5O0 8.60c
Elgin Butter Market.
ELGIN. 111.. May 12. Butter Fifty tubs
at 37c
ST. LOTJIS. May II. Wheat closed: May.
$3.18; July, $2.684: September, $2.42.
Grain at San Francisco.
SAN FRANCISCO. May 12j Spot quota
tlons: Walla Walla bluestem. $5.2005.25
Turkey red. $5.2606.80; red Russian. $5.10
95.15: feed barley. $2.80 0 2.85; white oats.
$2.82 Vs 02.85; bran. $47 0 48; middlings. $59
0 60: shorts. $54 0 55.
' Call board Barley: May. $2.85 asked
December. $2.17 Vs. Sales. 200 tons De
cember.
Puget Sound Grain Markets.
SEATTLE. May 12. Wheat Bluestem,
S3: turkey red. $3; fortyfold. $2.95; club,
$2.93; red Russian. $2.91.
Barley. $53.50 per ton.
Yesterday's car receipts Wheat 27. oats
1, corn 2. hay 14, flour 7.
'TACOMA. May 12. Wheat Bluestem,
$3.01; fortyfold. $2.99; club end fife, $2.98;
red Russian, $2.95.
Car receipts Wheat 47, corn 1, oats 8,
hay 19.
SAX FEAXaSCO PRODUCE MARKET
Prices Current on Butter, Eggs, Fruits,
Vegetables Etc., at Bay City.
BAN FRANCISCO, May 12. Butter Fresh
extraa 84c: -crime firsts. 83ttc
Eggs Fresh extrss, 84c; extra firsts.
82c: fresh extra pullets, 81c I extra firsts
Dullets. 29V4o.
- Cheese New firsts, 21c; Toung Amer
icas. IOC
Poultry Hens. 21fi28o; roosters, eld. 189
15c: frvers. 32&35o: broilers. 28027c
squabs, $202.25; pigeons. $1.5002; geese,
194i 20o: duuks, 18 0 20c,
Vegetables Summer squash. 75c0$l;
paragus, Sacramento, 1.75 4j2; fancy, $2,600
2.75: Southern lettuce. oOQ7oc: spinscn
Price.
.$10.50 5 11.25
. 10.003 10.50
. 9.60 fp 9.75
. 9.25'tf 9 85
. 8.50'ci 9.25
. 7.50 fe 8.25
. 7.00'JnlOOO
,. 6.OO0 8.60
. 7.00 a 10.00
..15.50915.85
. 14.500 15.00
. 14.00 0 14.50
. 12.50 14.00
. 10.25013.60
. 9.75012.00
. 9.00 11.50-
Closlng
Sales. High. Low. bid.
Am Beet Sugar.
Am Can 2.100 41H 40Vi 41,
AmCarAFdry.. 400 6.1 65 65
Am Locomotive. l.loo ' 66 4i 65V-
Am Km & RefS... 1.000 97H U0 97
Am Hug Retg. ... 108
Am Tel & Tel... 8,400 118 116 118
AmZL&S 29H
Anaconda Cop... 8.600 78 78i nH
Atchison 1.3O0 99i w
AG4W1S6L. SOO 98V 97 98
Bait & Ohio 2.4O0 69 68 i OS'i
B & S Copper ..... 41V
Calif Petrol 200 18 17T 17V
Canadian Paclf.. 1.000 159 157 V 159
Central Leather. 2.100 83V 8S V 83
Ches-& Ohio 900 56 65 66
CM&StPaul... 12,000 72H 70 71V
Chi N W . 200 loai, I08V 100 -
C R I & P ctfs 89 hi
Chino Copper.. . 200 63 53 62
Colo Fu & Iron.. 6O0 47V 46H 47s.
Corn Prod Refg.. 400. 23V 23V 23V
Curcible Steel... 3oJ 4 62Vs 65V
Cuba Cane Sug. . 8.100 42 V 41 42 V
Dlst Securities 14
Erie 2.800 23 V 23 V 23
lien Electric... 4oo 152 V 151V 152 H
Gen Motors 1.100 105V 104V 105V
GtNorpfd SOO 104 v 104 V I"
Gt Nor Ore ctfs.. l.Sno 30 V SO V 80 V
Illinois Central.. 200 100V 100V looy.
Inspiration Cop.. 1.100 55 54 V 55
Int M M pfd 1.400 78 V 77V 7S V
Int Nickel 400 41V 40V 41
Int Paper 864
KC Southern 200 19 19 18V
Kennecott Cop.. 11,500 48V 44 44V
Louis A Nash 11.500 48V 44 44V
Maxwell Motors. - 50
Mexican Petrol. . 1.100 87 V 86V 87 V.
Miami Copper. .. 200 89 88 V 8
Missouri Pacific. 2.500 254 25 25V
Montana Power. ...... ..... .....
Nevada Copper. ..... ..... 23
N Y Central 600 87V 86V 87V
N Y N H A. H 800 38 87 V 88
Norfolk A West. 800 120 119V H
Northern Paolf.. 1.500 100V 99V 09V
Pacific Mall 20
Pao Tel & Tel 26
Pennsylvania.... 800 51V 61 V 52
Pittsburg Coal 43
Ray Consol Cop.. 8O0 28V 28V
Reading 5.700 86V 85V 86V
Rep Ir A Steel... 1,100 80 78V 79V
Phst Arts Cop 24V
Southern Paclf. S.200 90V POV 90V
Southern Ry 2,800 24V 23V 24V
Studebaker Cor 87
Texas Company. 700 203V 202 203
Union Pacific. . . 4.400 132 131V 132V
17 S Ind Alcohol. 13.600 121V 119V 121
U S Steel 63.800 116 114V 118
do pfd BOO 117V 117V 117
Utah Copper. . .. 3.0OO 112V 111V 112V
Wabash pfd B. .. flno 2314 23 23 V
Western Union. . 2l0 91 91 92
Westing Elect. .. SOO 47 46V 40
National Association Tells
Oregon Growers to Hold.
Omaha Livestock Market.
OMAHA. May 12. Hogs Receipts 6400.
5c to loo higher. Heavy. $16.90 0 16.15;
mixed. $15.750 16: light, $15.600 16; pigs.
$12.50014.50; bulk. $15.75016.
cattle receipts zuu. steady, rwative steers.
$9013; cows and heifers, $7.60011; West
em steers, $8011.25; Texas steers, $7,600
10.25; cows ana neirers. suqrid; canners,
$708: stockera and feeders, $7010.90;
calves. $9013; bulls, $7010.
Sheen Recelnts 300. steady. Yearlings.
$14.76016; wethers, $18.75015; ewes, $12.60
014.50; lambs. 17.o!eiu.
Chicago Livestock. Market.
CHICAGO. May 12. Hogs Receipts
10,000, strong. lOo above yesterday's aver
age. Bulk. $16016.85: light. $15.20016.80;
mixed. $15.75016.40; heavy, $15.70 318.40;
rough. $16.70015.90; pigs, $15.10015-4).
Cattle Receipts 700, steady. Native beef
cattle, $9.40 013.70; stockers and feeders.
$7.50010.85; cows and heifers, $6.65011.60;
calves. $9.50014.25.
Sheep Receipts ouu. steady. wetners.
$12014.75; lambs. $14819.
Chicago Dairy Produce.
CHICAGO. May 18. Butter, unsettled.
Creamery, 82 0 87c.
Eggs, higher. Receipts, 21,131 cases;
firsts. 82U033UC ordinary firsts. 30031c:
at mark, cases included. 80$33c
Dried Fruit at New York.
NEW YORK. May 12. Evaporated ap
ples quiet but firm; fancy. 12V013o: choice.
llVfcc: prime, luviio. r-runee less active.
Peaches strong; standard, luvc; choice.
10 Vc; fancy, lie
D ninth linseed Market.
DULTJTH. May 18. Linseed on track and
arrive. S3.55Vt: May. xa.D44 asked: July.
$8.48; September, $3.43; October. $3.25 bid.
ONE FARMER UNPATRIOTIC
Josephine Agent Finds General Wlll-
ingnes to Plant More.
GRANTS PASS, Or.. May 11. (Spe
clal.) C D. Thompson, county agrent.
after spending; two days touring; Jose
phina County to arrange for 18 meet
ings Saturday, Agricultural Defense
day. reports that he found only one
man who refused to respond to the re
quest for co-operation in boosting; for
lareer food production. With a grati
fying- enthusiasm, Tarmer after farmer
promised to put in more land, do extra
cultivating; and use fertilizers.
Local banks have advertised th
they will finance farmers in buying;
seed and horse feed to enable them to
add acreage to their plantings.
Total sales for the day, 225,000 shares.
BONDS.
TJ S ref 2s. reg. 97VIVorth Pse 8s... eU
do coupon... "Im V'Pac Tel A Tel os 98V
V S 8a reg.... 99 Penn con 4&4Vs lo2V
do coupon... " south Pac ref 4s 85V
TJ 8 4s. reg. . . .105 lunlon Pacific 4s 95
do coupon. .. .105 do cv 4s..... HU
Atchison gen 4s 91 U 8 Steel 5s 15V
D A R G ref 6s CSVI-outh Pnc cv 5s 97V
N T Cen deb 6s 104VIAnL. o-French 5s 93 V
North Pac 4. . 89V1 '
Bid.
Mining Stocks at Boston.
BOSTON. May 12. Closing quotations:
Alloues
Aris Com .
Cal A Arts....
Cal Hecla..
Centennial ...
E Butte cop. .
Franklin
Granby Con...
Greene Can . .
isle Hoy (cop)
Kerr Lake....
Lake Cop
. . eoVIMohawk
lkiiip mines. ...
V North Butte..
. 48
.635
. 18
. 11V
. 6V
. T8
. 40V
. 28V
. 4V
. 4V
Old Dom.
Osceola
Oulncy ........
Shannon
ISuperlor
up A bos uin.
Utah Con
Winona .......
Wolverine
84
TV
20 V
67 V
83
84
TV
S3
15
8
41V
t Money. Exchange. Etc
NEW TORK, May 12. Mercantile paper,
4 V 05 per cent.
Sterling, co-dsy Diiia, 14 73. commercial,
60-day bills on banks, 14 71V: commercial.
60-day bills. $4.71 VS demand. $4.75 V
cables. ' 84.76V.
Franca, demand. 5.75 V: eables, 5.71 V
guilders, demand. 40V : cables. 41; llres. de
mand, 7.06; cables, 7.05; rubles, demand,
20V: cables. 2V.
Bar silver. 74 Ve.
Mexican dollars. 58.
Government bonds, steady; railroad bonds.
heavy.
SAN
$4.7iv:
FRANCISCO. May 12. Sterling.
demand. $4.75V; cables, $4.76 V-
LONDON. May 11. Bar silver. 88d I
ounce; money, 8 04 per cent; discount
rates, short bills. 4 11-16 per cent; three
months' bills. 4 V per cent.
RESOURCES SHOW A RECORD TOTAL
Federal Reserve Beard Reports Large In
crease During Week.
WASHINGTON. May 12. Total resources
of the Federal Reserve banks have reached
the record total of $1,209,162,000, an Increase
of $184,000,000 during the week, the Board's
statement shows today. Conditions of banks
&iay 11 is snown as zonows:
Resources-
Gold reserve $ B6t.287.000
Legal tender notes, sliver, etc.. 86,149.000
A bulletin on the subject of preparedness
for winter's food supply has been written
by Dr. Ernest E. D. Laufer. agronomist of
the American Steel & Wire Company. This
company is issuing a . series of valuable
weekly reports on crop conditions. Dr. Lau-
fer's bulletin follows:
"Great and momentous times are for the
first time since the Civil War again con
fronting the Nation. The resources and
savings of years of peace are again being
pledged to the prosecution of war. more
gigantic and more relentless than any war
that has been fought in the history of
mankind.
"Not all of us are chosen, however, to
fight this great war with gun and saber,
or by blood purchase; some must stay be
hln,l to pledge all that they possess in the
effort to produce enough food to keep the
valiant soldiers fed and their babes and
wives at home from starvation. Our beau
tiful land of unlimited resources must be
made to show its prowess In agricultural
production, so that none within her boun
daries shall feel the pangs of hunger and
the degrading Influence of poverty.
"In choosing the things to grow In the
gardens, it should be borne In mind that
the crops to be- consumed at once, such as
lettuce, radishes, melons, etc. are to occupy
only the most limited space, while crops
that can be dried, cooked, steam processed
or cellared should be grown ss abundantly
as possible. The vegetables that are most
readily preserved by cooking or steam pro
cessing are peas, sweet corn, tomatoes, spin
ach. Swiss chard and cucumbers. Beets, car
rots and string beans may also be put up
In this way. either pickled or In brine.
Rutabagas, turnips, celerlac, parsnips, as
well as carrots and beets, msy simply be
placed In a cool cellar (the temperature of
which should not be kept higher than 40
degrees Fahrenheit). In bins of dry sand,
where they will retain their usefulness until
the late Spring. Cabbages. Chinese cab
bare. Brussels sprouts and kohlrabi may
be placed In the cellar with the beads down
and covered with sand, taking care that
they do not touch each other, but that each
is entirely surrounded with a layer of sand.
String beans andcabbage may. of course,
be preserved by the fermentation method
In the form of sauer kraut. Parsley, sage.
thyme, marjoram. Summer savory, bssll and
celery leaves should be dried in a cool room.
preferably dark with an abundance or cir
culating air. . For this purpose they should
be spread on newspapers In thin layers and
turned frequently, or they may be tied In
small bunches and suspended from a line
until thoroughly dry. when they should be
packed In airtight boxes, such as baking
powder Una etc. In gathering cabbages
and the above herbs, care should be tsken
that they are free from dew and other
moisture, as this would cause molding anu
rotting. Okra or gumbo Is not mucn grown
In the North; It. however, makes an ex
cellent and nourishing addition to soups and
tomatoes. This can be dried by cutting into
nin.ri it,nrihwiM and subjecting to sun
light or other gentle heat and plenty of
lr. The same is true or sweet corn, w hhu
must be cut from the cob and dried aa
rapidly as possible. If this corn Is soaked
for several hours and oouea in miia wnn
little niece of butter wltn pepper anu
salt added, it is quite equal if not superior
to canned corn.
Parin na may be lett in tne ground an
trim., and used In the early Spring Derore
growth commences. They will Be round more
tender and delicious at this time on account
of the freezing they have passed through.
All of the vegetables and neros mentioned
are or the easiest cuuuie, rrtiun is
,i,,rri nnnlliv soils to produce fair crops.
They should be kept free from weeds and
constantly cultivated. Any special imiu
inn or cultivation will be well repaid, how
ever, by heavier yields and more tender
products.
Weeds In fence corners and out of the
wev places should be treated by spraying
with sulphate of Iron. Asm A or Eureka
weed killer. This should be made a com
munity proposition, as concerted action is
needed to insure results. Close attention
to the above outline will result In a vastly
Increased food supply during this coming
Winter, besides furnishing the table with
a number of delightful dishes which have
only too often been absent In the American
household.
CORN PLANTING IS URGED
Agricultural Department Appeals
to American Farmers.
WASHINGTON. May 12. "Plant corn
as the most effective way of meeting;
the threatened wheat shortage." urgred
the Department of Agriculture today
in an appeal to the farmers of the
United States. Scarcity of other grains,
said the statement, will compel a more
general recognition of the value of
corn as numan 100a. v iaer u ii
cornmeal in the diet is strongly rec
ommended as the best available sub
stitute for wheat flour.
The deDartment called attention to
the fact that the normal production of
corn in this country is three or four
times greater than wheat, but that only
about 5 or 10 per cent, or 200,000.000
bushels a year, has been used for hu
man food.
Prediction Made That Kine Will.
Bring: 50 Cents and Crossbred
65 Cents Shearing General
in Eastern Part of State.
Oregon woolgrowers will realise higher
prices If they do not sell their wool In a
hurry. This Is the opinion of the National
Wool Growers' Association, which yester-.
day sent the following telegram from Salt
Lake:
It la my Judgment that every clip of
fine wool In the state of Oregon will bring
around 60 cents, and most of your cross
bred wool Is worth 55 cents. I believe If
your growers hold together they will get
these prices. 'Dealers already stand to clean
up $25,000,000 on this year's wool. They
can afford to pay for what la left. It la
probable Congress will place a 10 per cent
tariff upon Imported wool. This will have
the effect of raising prices 4 or 5 cents per
pound. Woolgrowers need not fear Im
ports from Australia, for the British govern
ment is unable to get enough wool from
that source to meet Its military needs, so
there Is not much chance for our getting
any considerable quantity. Oregon wool
growers have lost 50 per cent of their lamb
crop and they have passed through an
expensive year. The only way to regain '
this la to hold their wool for a fair market
price. The loss of sheep throughout the
entire Inter-mountaln country will average
25 per cent, and the lamb crop of the West
la not to exceed 50 per cent."
Buyers are bidding keenly for wool In
Eastern Oregon. but growers are still
holding back. There was some selling in
the latter part of the week in the Echo
district, but elsewhere sheepmen did not
appear interested In the bids. Shearing was '
under way around Condon. Heppner, Echo,
Athena and Arlington, and at the latter
point It was practically finished. Offers
have been raised 3 to 4 cents as a result of
action by Congress on the tariff, but grow
ers think the market ia going much higher
and are In no hurry to sell.
There were sharp advances In scoured
wool In the East In the past week. Eastern
Oregon staple Is now quoted at Boston up
to $1.45 and Eastern Oregon clothing up
to $1.30. A Boston trade report says:
"Now It Is $2 wool toward which the wool
market here is setting, if hat point has not
been reached already, and the price situa
tion continues to be a feature of the condi
tions In the trade. Even should no con
firmation be forthcoming regarding the re
ported sale of some fine AA pulled wool
within a few days on a clean basis of the
extreme high figure mentioned, the market
will rise to that level, in the opinion of
authorities here. The transfer of another lot
of pulled wool at $1.78 clean, this sale be
ing unquestioned. Indicates that the predic
tion Is no rash one. One basis for the
prediction Is the situation in the West,
where clips now being shorn or soon to be '
put through that process have commanded
prices which leave Boston quotations, de-
spite many advances, below a parity with
values In the primary centera
"While the market here has not shown
continuation of the excited buying re
ported a week ago. no subsidence of Inter
est Is manifest in the primary markets,
at any rate In territory wool section. The
transfer of wools under contract and still
held In the West by dealers to manufac
turers, heretofore reported to be very prof
itable for the former, hardly can be consid
ered otherwise for the latter. In view of
the volume of Army contracts being placed
by the Government, The big movement in -
contracts here, however, appears to be
ended."
Total reserve
Five per cent redemption fund
against Federal Reserve Bank
notes ..r
Bills discounted members
Rills bought In open market...
United States bonds
One-year Treasury notes
U. S. certificates of Indebted
ness Municipal warrants
Total earning assets $
Federal Reserve notes net
Due from other Federal Reserve
banks net
Uncollected Items
..$ 597,436.000
400.000
89.5R4.OdO
97.155.OO0
36.2i2.or"t
23.450.000
88.01B.00O
14.68 8. OOO
Wool. Etc.. at New York.
NEW TOIK, May 12. Wool firm: domes
tic. fleece. 5i. Ohio and Pennsylvania. S4K
55o.
Hons snd hMen nnehsntred
TRAVELERS' C.rTDE.
San Francisco
Los Angeles
(Without Change Za Roata)
The Big.
Clean.
Comfortable.
Elegantly Appointed.
Seagoing
S. S. ROSE CITY
flail From Alnsworth Ioek
S P. M., TlIl'RSDAY, MAY 17.
100 Golden Mlleo on
Colombia River.
All Kates Include
Berths and Meals.
Table and Service
Unexcelled.
The Ban Francisco Portland S. 8. Ce..
Third and Washington street with
O.-W. K. N. ..). Tea. Broadway 45M.
A 61XL
rTWlN PALACES
l-UKll. .MI TO KAX I KAMISl'U
S. 8. GREAT NORTHERN, express
train time. May 15. 19. 24. Cal. Str. Ex
press leaves 9:80 A. M. One-way fares.
$S. $12.50. $15, $17.50. $20. ROUND
TRIP, $32.
TRl-WEEKLY SCHEDULE,
Tuesdays, Thursdays. Saturdays, to be
resumed May 29
North Bunk, 5th and Stark.
Station, loth and Unyt,
8d and Mor., N. I. Ky.
848 Wash., G. N. Ry.
100 Sd, Burlington Ry.
TICKET
Ot'IlCES
289.1S0.OO0
24.030. OOO
1.845.000
810.645,000
OVERBEGK &
COOKE GO.
Brokers. Stxkfs, Ilonda, Cottm.
Ormln. fctc
tlt-Xl? BOARD OF TRADE BLDO.
MEMBERS
CHICAGO
TRADE
BOARD OF
Correapon r1Tr4 of Iorn fr
4-.n1cf.eio ua x-iew ivh
MEMBERS
New York tock Fxchanfo
Chicago Mock Eirhtnft
BoAtoa Stock Eicbanga
Chicago Board of Trad
w York Cotton Exchanffo
w Orleans Cotton Kxchnnf
New York Coffeo txciant
New York Produce Kxchai
Liverpool Cotton Am'b.
ALASKA
Ketchikan. Wrangel. Janeau. Doaglaa,
Mainea, e-kagwaty. Cordova. aloes, sew
aria and Ajacnormge.
CALIFORNIA
Via Seattle er San Francisco to Los Aa
gales and Ban Diego, largest ships, aa.
equaled service. low raiee. inuiudlac
sneala and berth.
For particulars apply or telephone
FACUIC STEAMKUir COMPANY,
Tat Admiral Una.
Slain 16, Home A 6. 14 Third St.
COOS BAY
ElREKA, SAN mtCISCO
S. S. KILBURN
P. M. Tl'ESBAV, MAY 15.
orta Pacific S. 8. Dock and
124 Third St.
3ear Broadway Bridge.
Phones Broadway 520, A S422.
,T Hoi
RALIA
Honolulttff Suva. Hmm Zwu.
Kecnlar SmiMnK from Vancouver. R. C, by
the Palatial l'twteofer 8 tea mere of the
Canadian-A act rata! an Royal Mall Una,
For fall Information apply Can. Pac. Rail
way &3 Third St., I-ortLand, or Ceo era 1
Asent. 440 feej-ruoar fet. Vbocou.rr, l.