THE SUNDAY OREGOXIAX. TORTLAXD. DECEMBER 22," 1918.
MILL FEED PRICES '
WILL BE ADVANCED
This Course Necessary to Get
Flour Orders.
MEW QUOTATIONS SHORTLY
Mills in This Section Must Compete
Wltli Minneapolis Where Feed
Prices Were Raised Sharply.
Ptndlns the readjustment of prices, mill
ers were not Belling mill feed yesterday.
They expect to announce the sew feed Quo
tations on Monday.
In view of the very heavy advances In
mill feed in the Middle Wut, the Minne
apolis market having gone up $18 a ton, the
ff'aclilc Coast millers cannot avoid raisins
prices If they are to have any feed or flour.
Tho price of export flour will be regulated
by what the Government can buy for from
ntia Minneapolis mills. If the mills there
have a higher feed price than prevails here,
they can, of course, undersell the Coast on
export flour.
In all probability the mills In this section
will find they must advance mill feed $10 a
ton. If not more, in order to retain a hold
tn the Government flour trade, and even
then it is questionable whether they will
get a fair volume of export business. If
they do not. It will mean that much less
mm feed for consumers In the Northwest.
It Is thought that a slight reduction will
e made In the price of the 100 per cent
Government regulation flour now on hand
and that the mills will resume the manufac
ture of patent flour, which will probably
sen for 25 cents a barrel over the price of
HOO per cent flour.
The manufacture of patents Becessarily
leaves abow 40 per cent of cut-offs, which
will have 3 be marketed elsewhere, and
rha millerr (lave no Idea what they can set
?or these cnt-offa. The ban on exports to
South and Central America has been re
moved, kaj, to trade with those countries
shippers must set permits from the War
Trade Board and this Is a slow ahd ex
tremely difficult process.
OREOtTV HOPS STRONG AT 30 CENTS.
less 'nan 1000 Bale Are Left in. State
Record Prices in Germany.
OsJy- about 050 bales of hops of the 1918
ero are left in growers' hands In Oregon.
Sev'sral sales have been made at 30 cents,
th latest being the Hartley & Craig crop of
114 bales at Salem. Several less than car
load lots also went at this price. A few thou
sand bales of olds remain, but they have
not yet attracted much attention. Ud to 20
cents has been paid for 1017s, and 16 cents
for 1016s. Buyers are offering 20 centa on
contract, but there are no sellers.
All the orders on hand ar for English
account. The Government has removed hops
from the export conservation list, and they
can now be shipped to England without trou
ble, provided the shipper is able to get an
Import license from the British authorities.
The trans-Atlantic companies are now offer
Ins space on their steamers for hops from
-New York to London at $8 per hundred
pounds. JBefore the war, the rate was 75 or
3 cents, and before England put on the em
bargo, the rate had moved up to $3 a hun
dred. According to an English report, the French
Supply Department has passed an order for
32,000 hundredweight of California 1918 hops
to be shipped to a London firm.
In Germany, according to the Brewers'
Journal of London, probably the highest
prices on record have been paid for 1918
hops. The market in Nuremberg advanced
rapidly from 450 marks in September (at the
pre-war rate of exchange, 9Sc per pound) to
000 marks in October ($1.05 per pound), and
old hops advanced accordingly. On the mar
ket in Saaz up to 765 kronen ($1.40 per
pound) was paid for 1918'a, 875 kronen (6Sc)
for 1917's and 215 kronen (40c) for older
hops. The 1918 German crop is estimated at
L'o.OOO cut., the 1918 Austrian crop at 50.000
ewt. Hops were being used to eke out the
tobacco supply as well as for brewing.
j
GRAIN MARKET STEADY AT CLOSE
Bids Average Fifty Cents Higher Than ai
PTiday's Session.
The local grain market was steady at the
close, with prices averaging 50 cents higher
than on Friday, but dealers did not show
much disposition to get together on busi
ness.
Weather conditions in the Middle West, as
wired from Chicago: "Winnipeg cloudy, 22
Minneapolis raining. 38; Chicago cloudy, fog
gy, cool. Peoria cloudy, 46; St. Louis rain
ing. 47; Kansas City part cloudy, 47. To-
peka clear, 42; Omaha cloudy, 38; Ohio Val
ley raining, warm."
Stocks of flour, grain, etc.. remaining In
California on December 1 were: Flour 188.-
102 barrels versus ir.5,171 barrels last vear
wheat, 2,420,980 centals versus 2.142,704 cen.
. tals; barley, 7.210,320 centals versus 6,816,
360 centals; oats, 465,460 centals versus 462,-
coiuui, cw u, -u.,ju centals versus
235.660 centals; rye. 51,580 centals vermi.
9.900 centals: beans, 2,982,052 sacks versus
x.woo.iwj sacks.
Terminal receipts, In cars, were reported
Dy me ivtercnant a Exchange, as follows:
Wheat. Brly.FIour.Oats.Hay.
Street merchants look for a continued
strong market.
Dressed 'geese were scarce and readily
brought 33 cents. A few dressed ducks ar
rived and sold at 37 Vi cents. Dressed chick
ens brought 32033 cents. Live poultry moved
well at firm jtnd unchanged prices.
Receipts of eggs continued to show an In
crease, but there was a strong holiday in
quiry and prices were maintained without
trouble.
Cube butter dragged and the market was
weal.
FRENCH FALL WHEAT DOES WELL
Field Work is Central Regions Hindered
by Wet Weather.
Crop conditions abroad are summarised
by Broomhall in yesterday's cable as fol
lows: France Field work has been much hin
dered by wet weather and this has been
particularly the case In central regions.
Early sown Winter crops are showing a
nice plant, mild weather having favored
growth. Transport conditions remain un
satisfactory and supplies are difficult to
move. .
Italy Corn in the North has suffered
damage from the unseasonably wet weather.
Tn the South the weather has turned cold,
but this will not hurt the new wheat crop.
Spain Latest reports of the supply situa
tion are more favorable and the weather re
cently has been suitable for the new seed
ings. Food commissioner has estimated the
requirements of Spuin at 116.000,000 bushels,
but official statistics for formes years show
the copsumptlon then was 136,000.000
bushels. A Spanish paper says the 1918
harvest is 152,000,000 bushels, but the pre
liminary official estimate was only 132,000,
000 buahels.
Russia There Is no fresh authentic news
available from this country regarding crop
conditions or the supply situation.
Algeria Returns from the last harvest
are quite satisfactory and ft is believed
there will be a substantial amount for ex
port. Unfavorable - weather has retarded
threshing, but weather has now turned fine.
India Crop outlook has Improved consid
erably, owing to recent beneficial rains
over a wide area, where the moisture was
most needed.
APPLES FIRM AT LOADING POINTS.
Good Local Demand for Mode rate-Priced
Fruit.
The local apple market was firm and un
changed, with, a good demand for moderately
priced stock. One car of Wasbingtons ar
rived. Shipments of Oregon apples were
two cars each to Los Angeles and New York;
one each to Chicago, Grand Forks, Niagara
Falls and Portland; canaer stock, seven cars
to New York.
In the East New York Baldwins and
Greenings, A 2Vi. from cold storage were
firm at $S.50$8 per barrel f. o. b. ship
ping points, and held about steady at a
general range of $6.75 6.50 in leading job
bing markets. Extra fancy Wlnesaps were
firm at $2.15 2.25 per box f. o. b. Wenatchee
and Yakima Valley shipping points, but
showed little change in leading lobbing
markets, ranging $2.75 to $3.25 per box.
Shipments were lighter.
MORE BUTTER HELD IN STORAGE
Stocks of Ksrgs and Cheese Lighter Than
Vear Ago.
Storage egg holdings in the Northwest on
December 1 were 60.7 per cent smaller than
a year before, creamery butter stocks were
14.9 per cent larger and American cheessl
stocks 73.2 per cent less. Comparative sta
tistics for December 1 of tbls and last year
follow, the amounts being In pounds except
eggs in cases:
Dec. 1. 1918.
. .. 20.42O
. . .1.516.17S
288.036
. .. 135,528
165.061
. 4.i3.40;i
.. 155,170
. .. 244,175
...6,174.819
. .. 1113, 10.S
... 7U7.u'J
5,357.465
Portland. Sat... 14
T;ar aKO 4
Total this week 21.1
Tear ago 25
Season to date. .5474
Year ago 35"0
Tacoma. Fri. ... 21
Year ago I
Saason to date. .3650
ear ago 3151
Seattle, Friday. o0
Year a?o
Pcaflon to date. .nsr!
Year ago 3248
16 16
1 4
32 91
16
759 13S0
143 452
"l "."."..
18
81
12
-4 814
186 BIT
27
537
740
115
108
445
730
11
89
39
19K1
1089
791
1028
1774
2111
POTATO CROP
MOVING
RAPIDLY
Case eggs
Creamery butter
American chesee
Broilers
Boasters
Fowls
Turkevs
Miscel. poultr-y ,
Frozen beef ....
Frozen mutton ..
Frozen pork ....
Pickled Dork
Lard
. . .1.255.928
Dec. 1. 1917.
41.385
1.31U.613
1,076,237
45.14H
3S.318
177.249
122.941
356.907
6,478.215
30B,3r,8
1.068.746
5,380,489
1.344,781
Potato Prices Unchanged.
Oregcn potato shipments were two ears to
Williams, Cal., and Bohemia and one each
to Los Angeles, Sacramento and The Dalles.
There were few sales In the country or on
the local market and prices were not
changed.
There was a fair trade In onions at un
changed quotations.
Bank Clearings.
Bank clearings of the Northwestern citle;
yesterday were as follows:
Clearings. Balances.
Portland $5,701,340 $1,131,875
Seattle 6.109.96 1.3tl5.6L'0
Tacoma 728, 0U 169.477
Spokane 1.2UU,7ot 434,133
Clearings of Portland, Seattle and Tacoma
for the past week and corresponding week
In former years were:
Portland. Seattle.
..$32,757,054 $39,682,036
STOCK MARKET RECOVERS
STECCIiATrVE ISSCES ARE TEA-
TCRES or TRADING.
Motors, Oils and Minor Equipments
Score Gains; Bonds Are In
clined to Ease.
NEW YORK. Dee. 21. Trading In stocks
today was superficial and colorless to an un
usual degree, the only notable features be
ing contributed by several Issues of the apeo
ulative class, such as motors, oils and minor
equipments.
Kails made further recoveries from their
depression of the preceding session, although
moderate pressure continued to be exerted
against the transcontinental
I nited States Steel traversed th recent
circumscribed area, 'but a, few related stocks,
namely. Baldwin Locomotive, American Car
and Railway Steel Springs gained 1 to 1 St
points.
Marine Preferred Yielded Its 1 nolnt ealn.
but other shippings were firm to strong; to
gether with sundry specialties. Sales amount
ed to 225.000 shares.
The bank statement was featureless for
this important period of the year, sbowing
a moderate contraction of actual loans and
a corresponding increase of excess reserves.
BOBdl were again Inclined in aase. nrob.
ably as a result of another decline in liberty
rourtn 4 Ha to the new low record of 94.SO.
Total sales, par value, aggregated $9,250,000.
Old United States bonds were unchanged on
call during the week.
CLOSING STOCK QUOTATIONS.
Last
Sales. High.
400 63
4,000
- BOO
200
4,300
46i
f7?
61 '
79
2.4O0
a. r.oo
1.800
"s66
4,000
Am "Beet Sugar.
American Can ..
Am Car & Vdry
American Loco.
Am Sm & Itefg.
Am Sugar Iteig.
Am Tel & Tel. .
Anaconda Cop..
Atchison
A O & WISSL
Bait Ji Ohio ...
Bethlehem B . .
Canadian Pacif. 1,200 156 "A
Central Leather 800 59
Lnes Ac unio ... 20(J
Chi M & St P . . l.CoO
Chi N W
C R I & P ctrs. 2.400
Chlno Copper ... 2.400
Colo Fu & Iron .
Corn Prod Refg 1,700
Crucible Steel .. 1,100
Cuba Cane Sug. ,
Distill Securities 3.R0O
Erie
General Electric
General Motors.
Gt Nor pfd ....
Gt Nor Ore etfs.
Illinois Central.
Insplr Copper ..
Int M M pfd ...
Inter Nickel . ..
Inter Paper . . ..
Kennecott Cop.
Louis & Nash . .
Maxwell Motors
Mexican Petrol
Miami Copper ..
Missouri Pacific
Nevada Copper.
N Y Central . ..
N Y N H & H. .
Norf & West . ..
Northern Faclf.
Pacific Mail ...
Pennsvlvanta ' ..
Pittsburg Coal. .
Ray Consol Cop.
Reading
Rep Ir & Steel ..
Southern Paclf.
Southern Ry . . .
Studebaker Co..
Texas Co
TTnion Pacific ..
IT S Tnd Alcohol
U S Steel . ,
do pfd ......
TTtah Copper . ..
Wabash pfd B. .
Western T'nion..
Westing Electric
Low.
3
46(4
87
61
78H
1.1O0
400
S.100
3,700
5,500
0,900
200
200
2.400
18.300
200
2.200
.100
3.000
2.400
P8i
64 4.
90 hi
53'4
62 H
56
42 H
2',i
S34
"iis
58
'ii
;17i
147V,
131
96 H
45ti
11 Us
31 la
84
170
23 T4
251
17i
76
32H
600 95 M
6.6O0
4O0
l.noo
0.500
500
10,600
2.300
4.800
400
3.0OO
ROO
Sl.ooo
3O0
1.30O
300
"300
45 'i
47
20 H
K24
74
nrni
29i
52 1,
IRS
12
ion
nU
112V,
74 H
21
"43H
OS
63 H
89 S
52H
156
58 V,
58
41
48 T,
06
"no
17
147
129
00
45
HO'4
32
31 Vi
33
167
23 ,
24
IJVi
Sis.
93'i
44 '4
47
20 U
81
74 5;
ns
201.;
51
187
127 1,i
102'i
n.-.'t
112i
73
21 i
"43 ' "
Sale.
3
4i'4
87
61
78
1)0
98
64
90 i
108i
53
62
15K
58T4
66
42
99
it
38 '4
46
57 4
30
51
174
147
129
96
32
97
45
110
32
31
34
118
28 H
167
23
25 '4
17
76
.12
106
95
39
45
47
20-.4
81
74
i'S
29
51
12714
103
96
112
74
21
43
tracted some comment In coffee trade elr-
cles here this morning, but did Dot seera to
create any definite sentiment..
The official cables reported an advance of
T5 rels In the Rio market and of 10O rate
in Santos spots with Santos futures 25 reia
higher to 50 reis lower. Receipts at the two
Brazilian ports were 46.O00 and Jundlshy
receipts 2'J.OOll bags. Santos cleared 61,000
bags for tho United States.
The local spot market remained nominal
at 17 tor Rio 7a.
RESERVE BANK DISCOUNTS SHRINK
Net Increase In Ratio of Gold Reserves
Against Circulating. Notes.
WASHINGTON, Dec 21. Discounts of
the 12 Federal reserve banks showed a
shrinkage under previous weekly totals In
the combined statement of the institutions
as they were at the close of business Frtdsy.
both in bills secured by Government war ob
ligations and bills representing ordinary busi
ness credits. r or the ri"" 1 consecutive
week the statement showed a net Increase in
the proportion of gold reserves held against
Federal reserve notes circulating as currency,
though the total of such notes in circulation
Increased during the week from $2,604,680,-
000 to S2.663.701.00a The consolidated state
ment follows:
in vault and In transit... S 335,141.000
uoiu settlement xund t. R.
PRICES AT YARDS STRONG
LIVESTOCK MARKET IS
IIEALTIIY CONDITION.
IN
Board
Gold with foreign agenoles. ...
Total gold held by banks...
Gold with F, R. agents
Gold redemption fnd... ......
s
Total gold reserves.
Legal tender notes, silver, etc.
Total reserves .............
46t.369.0A0
6.829, 000
.$ 802,338,000
.$l.ie4.22S.oA0
b2.421.UOO
.$2,078,988,000
.$ 54.636.000
.$3,133,624,000
Bills discounted secured by
Govt, war obligations $1,299,524,000
All other 3O6.778.0OO
Bills bought in open market... S40.765.ooo
Total bills on hand
$1,947,067,000
U. S. Govt, long-term securities. $ 58.850,000
IT. s. Govt, short-term securities 825,073.000
All other earning assets....... I6.O0O
Total earning assets $3,301,006,000
Uncollected Items tdeduct from
gross deposits) 826,831.000
Five per cent redemption fund
against F. R. bank notes..... 5.880.000
All other resources S00.7U3.OOO
Total resources ............ .$3,288,134,000
Liabilities
Capital paid in. .............. .$ 80.585.000
Surplus 1. 134.000
Government deposits 88.693,000
Due to members' reservs ace't.. 1.642.444,000
Collection Hems .88.755. Q00
Otherdeposlis, Including foreign
government credits ......... 106.6S9.0O0
Total gross deposits. ...
T. R. notes In actual clreula-
.$2,876,681,000
tion
F. H. bank notes tn circulation
net liability
All other liabilities
.$X.63,701,0
111.909.000
64.224,000
Total liabilities
.$5,288,134,000
Bid.
BONDS.
U H Ref 2s Reg 9S IPenn Con 4s.. 97 I
do coupon ... '98 lUnlon Pac 4s .. 87
D 8 3s Reg 3 tU S 8teel 5a . . . 99
do coupon ... 8S Po Pac Cv 6s... 101
U S 4s Reg T104 Anglo-r rench 6s
do coupon ... l" iu n l. o .
Atchls'n Gen 4 85
T A R O Ref 5s 57
NYC Deb 6s. . 99!
Northern Pac 4s 86 I
Northern Pac 3s 61 I
Pac T T 6s.. 95l
98.20
do 1st Con 4s 93.00
do 2d 4.1 93.04
do 1st Con 4 s 96 96
do 2d Con 4 Sis. 94.30
do 3d 4s 95.36
do 4th 4a... 94.34
Bid. tOffered.
Boston Mining; Stock.
BOSTON. Dec 21. Closing quotations:
44 lOId Dominion...
. 12IOsceola
. 64 Quincy
.432 (Superior
. 13 leup. & Boston...
4 Shannon .......
. 9't'tah - Con
4 IWinona
. 24 IWolverine
. 5IOranby Con
:::: i5r
S3
r.o
62
BU
.1 '4
3
8
no
in
80
45
1918
1017.
1916
1915.
1914
1913,
1912
191 1
1910
1909
1908
1907
1906
1900
19.502,073
13.618.180
9.36L103
8,200,91:9
9.74S.176
9.597,157
7.821.543
7.880.31
a.4U2,88:j
5,352,070
3,001,789
3,744.857
3,048,524
26,955,294
18.340.947
9,345,633
7.632.115
10.348,213
10.825,018
lo.017.640
8,053,385
10,120,400
8,541,181
6.029.466
8.107.634
5,808,708
Tacoma.
$5,329,486
4.0UO.314
2,560,406
1,792.073
1.350.040
2,050,883
3,320.240
3,94.197
3.008,104
4, 966.029
4.224,709
4,084.070
4.235.410
2,000,702
PORTLAND MARKET QUOTATIONS
Grain, Flour, Feed, Etc -Merchants'
Exchange, noon session.
Northwestern, oats and barley, sacked:
Oats
No. 2 white feed
Barley ,
Standard feed
Standard A
Dee.
Bid.
.54.00
. 49.00
50.00
Jan.
Bid.
$55.00
'49.00
00.50
Feb.
Bid.
$00.00
00.00
61.00
61.00
63.00
60 00
09.00
51.50
63.00
60.00
69.00
Remaining Stock in United States Less Than
Last Season.
The petsto movement Is now at a point
which permits comparison with tho pre
ceding season. The bulk of shipments after
November are from these 13 states: California,
Colorado, Idaho, Maine, Michigan, Minne
sota, Nevada, New York. North Dakota, Ore
gon, Pennsylvania, Washington and Wiscon
sin. The remaining states at this time of
year have practically completed their ship
ping season, or are small shippers, none of
these shippers exceeding totals of 500 cars.
Thus it may be assumed that the remaining
stock of the season is mostly -in these 13
states.
For the season of December , Inclusive,
this group of Winter and Spring shipping
states has moved 60,371 cars, compared with
46,048 cars for the corresponding time last
year, a gain of 14,320 cars this year, not
withstanding this year's much lighter crop.
Deducting the 60.371 cars already shipped
leaves 83.278 cars yet to come, compared
with 76,172 cars which were still to be
shipped after December 3 of last year.
Keckoneron this basis, the remaining com
mercial carlot stock of potatoes is less than
one-half that which was on hand at the
corresponding time last year. Tho move
ment of the Fall crop of this and last year
from the Northwest in carloads follows:
Oregon. Wash. Idaho.
October forecast, 1918.. 8.036 11,000 6 547
December et. 1917 11.572 14,107 8.6H1
Shipped, season to date. 201 r.00 3.058
Ship'd last seas'n to date 443 999 2.629
Total ship'd last season 1.902 2.695 7,120
TURRETS ARE STRONG AND HIGHER.
Best Slock Sells on Street at 4242Vi Cents
' Shipping Demand Heavy.
The turkey market was strong and higher.
No. 1 stock selling at 42 b 42 cents. Re
ceipts were of fair size and were nearly all
used in filling shipping orders, the demand
from out-of-town being keen. Tho city trade
wilt open up Monday and the course of
prices will depend on . the supply. Front
Eastern oats and corn, bulk:
Oats
No. 3 white 50.00
38-pound clipped white 02.00
Corn
No. 3 yellow 61.00
No. 3 mixed 60.00
WHEAT Government basis, $2.20 per Lu.
FLOUR Family flour, 10.9l.lfc 1 1.05 per
barrel; bakers', $10.70f 10.85 ; whole wheat,
$9.MOr10: graham, $9.656'9.80: barley flour,
jl0.50i&13; rye flour, $11.7513; corn meal
9.50"10.S0.
MILLFEED Mill run. soft wheat grades
f. o. D. mill, canots, s-.j,u per ton; mixed
cars, $32.60; ton lots or over. $34.10; less
than tons, $35.10; rolled barley, $5509;
rolled oats, $57661 : ground barley, $0G60;
alfalfa meal. 140044.
COKN Whole. $973: cracked, $71 75.
HAY Buying prices, f. o. b. Portland;
Eastern Oregon timothy, $30'? 32 per ton:
Valley timothy, $27 per ton; alfalfa. $27.50:
Valley grain hay, $26; clover, $26 '35 27; straw,
$991U.
Dairy and Country Produce.
BUTTER Cubes, extras, 60061c; prints.
oarcnmeiu wrappers, extras, dox tots, 65c
can-tons. 66c; halt boxes, c more: less thai
half boxes, 1c more; butterfat. No. 1, 67c
per pound, station.
EGGS Oregon ranch, caldled, rota and
cracks out, 72"$ 73c; selects, 76c dozen.
CHEESE Tillamook, f. o. b. Tillamook
Triplets, 36c; Young Americas, 37c; Coos
and Curry county: Triplets, f. o. b. Myrtle
Point. 351 c.
POULTRY Hens, under 4 pounds, 25 9
26c; over 4 pounds. 28c; springs, 26c: roos
ters, 18c: ducks, 30c; geese, 25c: turkeys.
live. 3043io; turkeys, dressed, 42ff42c
VEAL Fancy, 2oip21c p.er pound.
PORK Fancy, lDUJOc per pound.
Allouex
Ariz. Com . . .
Cal. Ariz. .
Cal. & Hecla.
Centennial . .
Cop. R. Con
East Butte..
Franklin
Isle Royalle.
Lake Copper.
Mohawk
North Butte
Money, Exchange. Etc
NEW YORK, Dec 21. Mercantile paper
unchanged.
sterling, day-bills unchanged; demand.
$4.75 13-16: cables. $4.78 9-16. Francs, un
changed. Guilders, oemana, cmuies.
42. Lire, uncnangeo.
Mexican dollars, uncnangeo.
LONDON, Dec 21. Money and discount.
unchanged.
READT SALE FOR RAILROAD BONDS
First Important Project Financed Since
Signing of Armistice.
vew TORK. Dec. 21. Confusion and
further unsettlement were the chief con
comitants of the week In the securities mar
ket, traders ana tne puouc aiiKe paying
little heed to such auguries as a wheat crop
ot extraordinary promise and tne more
hopeful views of leaders or iinance ana in
dustry. The one concrete feature was the flota
tion and ready sale of a round amount of
Pennsylvania railroad bonds at terms re
garded as advantageous both to vendors and
purchasers. The transaction derived its
special significance, however, from the fact
that it marked the first Important project
of its kind since te signing of tho armis
tice.
Substantial reactions rrom recent high
quotations among me sieei, copper ana Kin
dred shares doubtless - were prompted by a
growing conviction that these products are
almost approaching levels attractive to con
sumers.
Fully 75 per cent ox tne week s liquidation
of bonds centered in liberty bonds, the
fourth 4s showing most impairment while
the first lours dropped to tne year's lowest
price.
Coffee . Export Tax to Go Off.
NEW-YORK. Dec. 21. Reports that the
state government of Sao Paulo will abolish
the export tax of about a francs per bag
on coffee as soon as the loans made on
coffee guarantees have been liquidated st-
Frnits and Vegetables.
Local .lobbing quotations:
FRUITS Oranges, navels, $3.7596.00
lemons, $06.00 per box; bananas. 99e
per pound; apples, 65c r $2.75 box; pears,
$22.50 per box; grapes, $9 per keg: cran
berries, $6 per box; huckleberries, 17c per
pouna; grapeiruit, j.iini 1.
VEGETABLES Tomatoes. $2.73 per box
cabbage. 2'u i.-O per 100 lbs.: lettuce. $2.01
.3.25 per crate; peppers, 17 c per pound
celery, 5ct$l per dozen; egcplant. lode
20c per pound; artichokes. $1.6; cauli
flower, $3.25 per crate; garlic. 35c per lb.:
pumpkins, 2c per pound; squash. 2c per
pound; beets, $2 per sack; carrots. $1.50 per
sack; turnips, fi.tj per saca: cucumbers,
$1.75 dozen; sprouts, loc pound.
POTATOES Oregon Burbanka. graded
$1.501.75: ungraded. $1.30; Oregon Netted
Gems. $1.752; Yakimas, J1.70&2; sweets,
44c.
ONIONS' Oregon. $1.754j2.00; California,
browns, $1,0041.00.
Oils.
GA8OLINE Bulk. 21c: englns distillate
bulk, 12c: kerosene, bulk. 10c; cases. 20o.
LINSEED OIL Raw, barrels. $1.93: cases.
S2.".; nnu.o, Darrets, cases, 2.0.t.
TURPENTINE In tanks, 86c; cases, 96c.
Ratio of total reserves to net deposit and
Federal Reserve note liabilities combined.
60.6 per cent.
Ratio of gold reserves to Pederal Reserve
notes in actual circulation after setting aside
35 per cent against net deposit liabilities.
59.7 per cent.
Naval Store.
SAVANNAH. Dec. 21. Turpentine firm;
65c; sales, 131; receipts. 106; shipments.
206; stock. 29,967.
Rosin firm; sales. 541; receipts, 95.1;
shipments, 1709; - stock 75.281. Quote: B.
D, B. K. and H, $13.85; I, $1.T0; K. $15.70;
M. $16.16; N. $16.20; WG, $16.45; WW,
$16.7.
New York Dairy Produce.
NBJW YORK. Doc 21. Butter barely
steady, unchanged.
Eggs lower. Fresh gathered extras. 680
70c; fresh gathered regular packed extra
firsts, 67tj 6Sc;, ditto firsts. 63i60c.
Cheese firm and unchanged.
Duluth Linseed Market.
DULTJTH. Dec. 21. Linseed. $3.65.
TOP PRICESlTSEIISON
NEW men LEVELS REACHED IN
CHICAGO MARKET.
Supply Available Is Moderate and
Demand for All Classes
It Active,
Th livestock market closed fairly active
with a run of 14 loads. Price conditions
were satisfactory throughout, the tone of. the
market being aleady to strong, with prices
unchanged from th day before. Th larger
part of th trading was In the hog market,
where the bulk of salea were at $16.85. The
trad looks for a steady hog market and a
firm cattle market from now on.
Receipts were 132 cattle. 3 calves. 883
hogs and 1316 sheep.
im aays sales were as follows
Corn Later Declines, Owing to Sharp
Cut in Stockyards Quo
tations on Hogs.
CHICAGO. Dec St. Notwithstanding that
high-price levels for the season were touched
today by December and January corn, the
entire market later developed weakness,
owing to a sharp cut In quotations on un
desirable hogs. The close was unsettled at
the same as yesterday's finish to le lower,
with January $1.38 OI.88I4 and May
$l..-i6K 1.35.
Oats gave way with corn.
In provisions,' as tn grain, the effort to
free the yards from leftover hogs had an
evident bearish effect.
Leading futures ranged ss follows:
CORN.
Open. High.
..$1.40 $1.41
.. 1.37 1.37
OATS.
.71. .71
.. .71' .71
MESS PORK.
Tan.
May
Jan.
May
Low. Close.
$1.38 $1.38
1.35 a 1-0514
Jan.
May
Jm.
May
.44.00
44.00
LARD.
23.40
..24.30
..24.60 24.00
SHORT RIBS.
. .25.S7 25.37
..24.10 24.20
.71 .71
47.00
43.00 43.00
24.00 S4.00
24.lt 24.20
S.
24. T5 , 24.75
23.72 23.73
yel-
Jan. .
May .
Cash prices were
Corn No. 2 yellow, nominal; No. 3
low. $1.52; No. 4 yellow. $1.4881.48.
Oats No. 3 white, 7171c; standard,
71W72c
Rye N'a 2. $1.62.
Barley BOotf $1.04.
Timothy $8011.
Clover Nominal.
Pork Nominal.
Lard $24.
Ribs Nominal.
Minneapolis Grain Market.
MINNEAPOLIS. Dec. 21. Barley. 87 95c
Flax. $3.66a3.58.
Grain at San Franetseo.
SAN FRANCISCO, Dec. SI. Flour, $11.45
per barrel.
Grain Wheat, Government price, $2.20
per bushel; barley, $3.15t?3.20; oats, white
feed, nominal; corn, California yellow, $2.85.
Hay Wheat and wheat and oat, $23tt27;
tame oats, $2224; barley. $17019; alfalfa.
$15019; barley straw, 6080o.
Meals Alfalfa. 836: coeoemit. nominal.
KP.Mi.dbr. tha Capital Issues Committee as not Incompatible with the national Interest,
but without approval of legality, validity, worth or security. Opinion No. A27t
. . Advance Offering
New Issue Short Term
7
Semi-annual interest January 1 July 1
Coupon Gold Bonds
Denominations $100 $500 $1000
Two-Year 7 Bonds at 100 to Yield 7
Without deduction for Federal Income Tax xcept in excess of 4
. . Full Details on Request. '
f. . '
LUMBERMENS TRUST COMPANY
Capital and Surplus $600,000
LUMIIKMtNl
UILD1N4
FIFTH ANs
TARK
WL Price !
6WO $ 6.50!
Mo
940
OO
6'JO
BOO
20O
11 hog
H no, 423 hogs.
6 r.o
5 OO
IM10
6 r.oi
15.M
1 hog. .
6 hogs. ,
15 hugs..
15 hogs..
9 IIOKS.
1A.U.M tJbon...
lfV.M) 19 lambs...
15.-.l74 ewes...
local yards
2 steers.
1 steer. . .
1 oow...
cows. ..
1 heifer. .
3 heifers.
25 hors. ..
6 hogs. .. 27H
13 hogs... 11
1 hog 430
1 hog 820
Prices current at the
roiiowe:
Cattle
Prim steers
Good to choir steers
Medium to good steers ,
Fair to good steers
fommon to fair steers .......
Choice cows and heifers ,
Fair to medium cows, heifers,
dinners ...............
Bulls
Calves
Hogs
Prim mixed ................
Medium mixed ..............
ough, heavies
Pigs H ml
Sheep
Prime lambs
Fair to medium lambs .......
Yearlings
Wethers,
Lwes ' ''
Wt Price
2.'.0 $17.00
22.1
150
240
3SII
130
TO
P.'l
r.s
110
1.8."
3 8.73
15.60
14.85
15 OO
12.50
14 O0
12.28
- ti.iO
Price.
$12.OOJrl2.50
, 11. 00 If 12.00
. B.50ll.oo
, 8. ,'0 9.50
. 7. 8.1 SO
. R.5lis 11.25
. o.MK t.m)
r :i..o 4.50
. 6 oorcr 8.00
. 9.00(012.00
. l751T.O0
. 10.50rm.8S
. 14.7.-.i 10.OO
. 14.0015.00
, 12.00M$.00
, 9.O011.0O
. lO.OOes 11.00
. b.oiihio on
. W OO
Chicago livestock Market.
CHICAGO. Dec. 21. (1. S. bureau of Mar
kets.) Hogs Receipts. 70O0; market mostlv
steady, with yesterday's average; bulk of
sales, $T7.25 17. (SO. Kutchers, 1 7.4r I 7 6o ;
light. $16.65917.40; packing, $16.5017.40;
throw outs. $15.50016.60; plga. good to
choice $ 13. 75w 14.75-
Cattle Receipts, 3000: compared with a
week ago, beef steers, 60 to 75c lower; fat
cows and heifers about steady; other classes.
60 to 75c lower; bulls, 25 to 50c lower; can
ners. 25o higher; calves, 20c lower; stockers
and feeders, about steady.
Sheep Receipts, 2omi, compared with a
week ago, fat lambs. 25 to 6O0 lower; weth
ers and yearllnga, 60 to 75c lower; ewes,
steady to 25o lower; feeding lambs, gener
ally steady.
Omaha Livestock Market.
OMAHA. Dec 21. Hogs Receipts. 2500;
market, closing lower. Heavy. S16.75
17.15: mixed. $10,903" 17.O0 ; light, $10.50
17.10: pigs. $10.00 13.50; bulk of salea
$1 SO 17.10. .
Cattle Receipts, 4O0: market stesdv. Na
tive steers. $10 50018.50: cows and heifers.
$7.000 lu.OO; Western steers, 0 .'.Off 16.00;
Texas steers. $8 50 12-15; rangs cows and
heifers, $6 5011.00; cannera, $5.7506.75;
mockers and feeders. $6.00 if 15.00; calves.
$8.75 13.75.
Sheep Receipts. 500; market steady. Culls.
$4.6O.7.50; wethers. $10 00310 50; ewes,
$7.5008.50: lambs. $12. OO 14 25: feeder
lambs, $10.00 14.50; yearlings. $10.00011.00.
ORIGINS OK LIVESTOCK LOADED
Shipments to the leading Markets at the
Pacific Northwest.
State origins or livestock loaded December
20. 1918:
For Portland
Cattle. Trr...
Calves Hogs Sheep Mules stock
Wo own and offer, subject to prior sale and change in price:
Government and Municipal Bonds
Orrgron
6.000 'Astoria, Oriron, Water...
3.000 tAatoria, Or.. Imp. Ber. No. 13,
3.500 t "
1.500 t
3,000 t
1.000 t
1.000 t
1.000 t
3.600 t
2.600 t "
2.500 t
2.6 00 t
2.600 t
500 t
r.ato
14. IS
6
6
6
6
6
6
6
6
6
6
6
&
6
6
6
H
a
S
Idaho
Montana .
Oregon
Washington
Totla Portland
One week ago.... 7
Four weeks ago. '37
One year ago . . JO
For Seattle
Idaho ..
Oregon .
South Dakota . .
Totals Seattle.
One week ago..
Four weeks ago.
One year ago. .
For Spokane
Idaho
South Dakota ..
Washington ....
Totla Spokane
One week ago. ..
Four weeks ago.
One year ago. .
21
6
13
"i
14
11
7
1
48U
1,000 tAstoria, City of. Or.. Imp. Ser.No.S
600 tHandon. Oregon, FundinK
18,000 'Bend, City of. Ore.. Klre Kquip..
2.000 Corvallia, Ore.. Imp
3.500 IJouglaa County, Ore., Ser. No. 1. .
3.600 " " Ser. No 3..
1.000 'Dufur, City of. Oregon. Water..
BOO tMarshfield. City of. Oregon.... 6
600 tXehalem, Port of, Oregon C
1.000 'Newport. Port of Oregon 6
1,000 ttiregon City, Orepon. Imp 6
600 tRalnler. City of. Oregon, Wtttr. . 6
4,908ttSaiem. City of. Ore.. Imp 6
1.000 tToledo, City of. Ore., Funding.. 6
52,000 'Toledo, Port of. Oregon 5
. J. 000 'Toledo, Port of. Oregon a
500 tVnion High School, LMit- No. 1.
Multnomth Co., Coupon Note.... S
$4,000 'Warrenton, City of. Ore, Muni.. 6
Washington
2.000 tYakima. County, Wash, Road.. C
1.000 t " " ..
1,000 t " " " .. "
1.500 t " " " 6
" Idaho
tCoeur d'Alene
t " " "
Cioodins; Co.. Ida.. Hirh. &. Bridge
Nei Terce County. Idaho
Maturltv
Jo. J 137
F&A 1921
Fa- A 1923
KA-A 1913
Far A 1925
y& A 1926
FA-A 1927
F&A 1930
Fee A 1931
F&A 1933
FAiA 1934
F&A 1935
FJtA 1K3
F&A 1937
F&A 193 8
J&.D 1937
Nov
MS
J J
A0
AiO
SSep
jn
J.I
JJ
J&D
J&J
1935
Price
100.00
To Net
To Net
To Net
To Net
To Net
To Net
To Net
To Net
To Net
To Net
To Net
To Net
To Net
To Net
To Net
105.48
1923-33 To Net
1935
192S
1924
1920
192$
1919
1928
1921-25
1919
M-N 1926-2S
F&-A 1931-33
J&D 1920-26
JiJ 1923
M4X 1919
M&X 1928-33
Idaho, Refdg.,
1.000
3.000
21.000
2.600
5,000
Canada
6.000 'Greater Wtnnlpeer Water
201.200 Montreal, City of. Prov.
IS.000 'Toronto. City of. Ont
4,000 'Toronto, City of, Ont....
3.000 'Toronto, City of. Ont...
tDenotes fractional bond, t
Denotes bonds of $1000 denomins
$1000 denomination.
JiJ
J&J
J&J
J&J
J&J
J&J
J&J
J&J
1930
1921
1923
1924
5
19!
192
1927-34
1933
1934
105.09
98.98
98.50
101.00
103.2$
100.29
99.00
102.03
100.50
105.39
100.00
99.00
ay. oo
100 60
100.00
101.50
102.20
loa.ss
103.82
103.83
104.35
102.87
104.59
105.17
Yield
6.00
5.00
6.10
6.10 .
5.15
6.10
6.20
6.25
5.25
6.25
6. SO . '
5.30
5.35
5.35
5.55
.40
6.40
6.25
5.12S
4.80
4.80
5.30
6.25
5.40 "
6.125
6.125
6.60 .
6.125
6.00
5.25
6.30
5.23
6.00
6.20
6.20 .
6.20
6.25 '.
6.25
6.25
6.50
5.60 '
5.50
B
H
n
H
m
m
N
B
H
n
n
n
13
n
s
5 J&J 1922 96.12 S.I5
Quebec 6 M&N 1923 100.94 6.76
5 J&1J 1921 98.55 6.75
6 J&J 1921 98.27 5.75 '
5 J&O 1923 97.70 6.76
rcnotes bonds of $500 denomination.,
.tion. Denotes bonds of $100, $500 and-
Liberty Bonds
It you most SELL joor Liberty Bonds. SKI. I, I S.
If you ram HI V more Liberty Bonds, III V from l
We buy and sell Liberty Bonds at the market.
YOU CANNOT DO BETTER :YOU MAY DO WORSE.
The closing prices of LIBERTY BONDS on the New York Stock Exchanf '
were as follows:
Monday
Tuesday
B Wednesday.......
sj Thursday
ss Friday
Saturday
S MORRIS BROTHERS, Inc.
mm
jj The Premier Municipal Bond II o use of Oreson
309-311 STARK, BETWEEN 5TH AND 6TH (GROUND FLOOR)
Telephone Udny. 2151 Kstabllshed Over - Years
HIIIIIIIIIIIIIIIIIIIIBlllBIIIIIIIinilll
B
B
B
First First Second Third Fourth. J
3 '-is 4s 4s 4ta 4 , s 4U
97.88 93.22 93.10 97.40 95.S0 96.06 95.76 B
98.00 93.30 93.08 97.42 95.68 96.10 95.64 B
98.14 93.10 93.02 97.40 95.26 95.86 95.44 Bj
98.12 93.20 92.90 97.00 94.80 95.40 94.74 -a
98.20 92.90 93.10 97.00 94.53' 95.54 94.64.
98.20 93.00 93.04 96.96 94.30 95.36 94.34
u
B
B
I
Seattle Livestock Market.
SEATTLE. Dec. 21. Hors Receipts. 204.
Steady. Prime lights, $17.25 17.4.1: me
dium to choice, $l7frl7.25; medium heavies,
$16ri6.40; rough heavies. $15fl3.40; pigs,
$1R 16.40.
Cattle Receipts, 67. Strong. Best steers.
$1113; medium to choice, $10.30 -11. 60:
common to good. $69$-60: best wows and
heifers. $8.S099.S0; common to medium,
$57.50; bulls. $5$T.5Q; ralya, $7912.
SAN FRANCISCO PKODICB MARKEt
Prices Current on Eggs. Vegetables, Fresh
Fruits, Etc., at Bay City.
SAN FRANCISCO. Dec. 21. Butter. 639
63Vic.
Kggs Fresh extras, 81c; fresh extra
pullets, 79c. ( -
Cheese New firsts and Young America,
not quoted.
Poultry--Hena 8Sff34e; young roosters,
34e: broilers. 42lt4.e: fryers. Srtf37el
pigeons, $2.50: squabs. $3.3004.00; geese,
30w32c; turkeys, dressed, 42ti 44c
Vegetables Celery, $4.0005 00; squash,
cream, 73 90c: hubbard. $1.S0&1.75: til
plant. 83 10c: peppers. 73c: chile. 596c;
tomatoes. $2.25 j?3: lettuce, $1.508 2.75; po
tatoes, Salinas. $3.00 3.7a: rivers. $1.75 it
2.23; sweet. J1 tfJHc: new. 4t5e; onions,
Australian brown, $1 V5tr 1.50: pearl. 506c;
garlic. 254F30c; cauiiriower, T3ce$l; beeta,
II 2.-. 'fl.So. carrots. $l.oorrl.2&: turnips. 16a
r$1.00; string beans, 124 17c; lima. lulc;
pumpkins, $l(ril.25: mushrooms. L'O'jittOc;
llruels sprouts, 57e; green onions, $1.J
it 1.75.
Fruits Temons. $2.50 1? 4. SO; oranges. $3
C?r.50; bananas. 7&8c; pineapples. $4.00
5.0O: apples. Belleflowers. $1.50u 1.7.". r-'plts-enberg.
$1.75 n 2.00 : grapefruit, $2.50ft3.60;
pears. Burtletts. $2. 50 f 3.00: grapes, Tokays,
Kmperors. and Verdels. $1.fi0if 2.23 ; avaca
does. $5.006.00: persimmons. $1.00150;
cranberries. $.tt 5.75; quinces, 90c$?$1.15;
casabas, 50c i $1.00.
Receipts Flour. 236 quarters: barley. 11.
?P! centals: beans. 2:152 sacks: potatoes.
4R79 sacks: onions. 549 sacks; hay, 152 tons:
hides, 20H2; wine. 12.1.S00 gallons.
Receipts Flour. ISO quarters: barley, T3
sacks; beans, 1725 sacks: potatoes, 670
sacks; onions. 10 sacks: hay, 90 tons; hides.
1571; wine, 123.950 gallons.
Chicago Dairy Prod ore.
CHICAGO. Dec. 21. Butter, unsettled;
creamery, 55S07c
Kggs. lower; receipts. 1009 cases; firsts,
60c; ordinary firsts. 57 5&c ; at mark, cases
Included. .8 900c
Dried mil at New Tnrk.
NEW YORK. Dec 2L Evaporated apples,
quiet. Prunes, steady. Peaches, nominal.
Cotton Market.
NEW TORK. Deo. 21. Cotton, spot,
steady; middling, 31.50c.
Excess Reserve Increase.
NFTW TORK. Dec. 21. The actual condi
tion of clearing house bsnka and trust com-
panles for the week shows that they ho
$5U.6P1.750 reserve In excess of legal re
quirements. This la sn Increase of $19,822.
40 from last week.
England collects an average of 4000
tons of waste paper every week.
OVERBEGK &
COOKE CO.
Broker, 8(nrki, Honda. Cottoa
Ormin. .tc
fl-Z17 BO AKO or TRADE BLDOh
UUIUbBS
CHICAGO
1 RAUtw
MEMUEBS
BOARD OV
CTpondent of I r-o Bit-.
Cbicacv and lrw York.
Kew fork Stork Kxrhanc
4 blear o torlt Eirbangt
Btjntoa 6tork Kicbange
Cblcaffo Hoard of Trad
New lork Cotton K&i-tiaoffa
Nrw Orleans Cotton -:vrhaoc
Smw lorli Cufft feschaaa
New lork 1'rodure fesc-tiaus
li Tcrpool Cotton A'o
TRAVKI.KIW' ;riOK.
AUSTRALIA
Honolulu. Suva, New Zealand
UnlDllN iUSTR.USt.il ROYAL MAIL LINE
I Largest. newest. beet-equipped steamer.
L , . ... -rf ulllnva monlv Cab. Pac. Keti
war. M Third et Portland, ar UenenU
Agent. 440 Nevmonr B apcooveT. H.
ti.
$750,000
Warm Springs Irrigation District Bonds
Malheur County, Oregon
Denomination $1000
Choice of Maturities, 20 to 39 years
A Desirable 6 Investment
because of its ample security.
because of its prompt, expenseless and convenient
payment of interest, twice yearly.
because of its quick, simple and effective marketa
bility, in case you should require the principal before
maturity.
because of its exemption from all Federal Income
Taxes, the entire 6 interest thus being net.
because issued directly for farm improvements to
increase agricultural production and passed by the
Capital Issues Committee at Washington as not in
v ' compatible with the interests of our Government.
because it is a legal investment for Banks, Trust
Companies, Trust Funds, Insurance Companies and
State School Funds.
because it is legally acceptable to secure deposits of
State, County and City Funds in Oregon Banks. ,
Descriptive Circular on Request
BONDS OFFERED SUBJECT TO PRIOR SALE AND CHANGE IN PRICE
. Clark, Kendall & Company
NORTHWESTERN BANK BUILDING
' PORTLAND, OREGON
BOND DEPARTMENT
The Anglo & London Paris National Bank
SAN FRANCISCO, CALIFORNIA