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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Jan. 26, 1919)
23 THE SUNDAY OREGONTAN. PORTLAND, JANUARY 26, 1919. COARSE GRAINS OFF FIVE DOLLARS TON Local Market Slumps With Declines in East. TRADING IS AT STANDSTILL Limai were Dearly steady at $9.509.75 to growers, recleaued basis, moving slowly at J 1 1 j lu.;,u in leadjfie markets. WASHINGTON HUUt MEN COMPLAIN Association Protests Against Grading and Appraising at Portland At the annual meeting of the Washington Wool Growers' Association, at Yakima, the following resolution was passed: "Resolved, That the Washington Wool Growers' Association protest against the ab solute discrimination in the grading and appraising of Washington wools consigned by member's of this association to recognized- dealers In Portland, Or.; that It la the sense of the Washington Wool Growers' REALIZING IS EFFECTIVE EARLY ADVANCES IX STOCKS ARE CANCELLED. f the slightest Intimation as to the essential details which will govern that undertaking. LOWEB FOOD PRICES XECESSABV Opening Strength Due to Removal by Money Committee of Re strictions on Credits. NEW YORK, Jan. 20. Unusual excite ment andactivity attended the opening of Association that mere nas oeen a couceneu today's stock market as a result of last and systematic effort to appraise wasn- night's action of the local money commit Corn and Oats of Weakest 1'eatures of Cereal Market llere, but Barley Is Alto Lower. The Merchants' Exchange resumed its sessions yesterday,, and with the further drop at Chicago had two days' declines to eveu up. The consequence was a grain market that averaged about $5 lower than that of Thursday. No deals were closed. Yellow corn bids, as compared with the previous session, were $4.505 lower, and mixed corn was off $o&6. Eastern clipped oats were down $50.50, Eastern white oats $4,503 ; and Northwestern white sacked oats $5.S0&50. The barley market Aid not suffer as much as the other grains, kids being reduced $13. The Southwestern crop report shows that snows have melted and moisture Is well absorbed and has greatly benefited the Winter wheat plant, which is in excellent condition. The Texas Panhandle has had good rains and snows and pastures are in excellent condition. Weather conditions in the Middle West, as wired from Chicago: "Minneapolis, clear, 40; Winnipeg, cloudy, -0. Chicago, clear, cool; Peoria, clear, 38; ' St. Louis, part cloudy, 40; Kansas City, clear, 35; Topeka. clear, 38; Omaha, clear, 24; Grand Rapids, clear, fine; Toronto, dear, 25." Terminal receipts. In cars, were reported by the Merchants' Exchange os follows: Wheat- Bar. Fir. Oats. Hay Portland. Saturday. 14 6 10 Year ago. . Total this week.. Year ago Season to date... Year ago Tacoma, Friday. . Year ago Season to date. . . Year ago Seattle, Friday... Year ago Season to date... Year ago . OS . 13 .5970 .3010 1 . 16 .4424 . 3622 . . 10 ! '.4540 . .3343 0 35 4 38 835 1585 202 606 19 68 14 10 2 84 47 58 574 2283 BOO 1323 5 13 1 28 933 190 1200 3 4 A 49 918 484 2077 236 1112 880 2342 oTOBMb AFFECT cKors ABROAD Farm Work Is Delayed in Great Britain , and France. Crop conditions in Europe, as affected by Winter weather conditions, are reported by Broomhall by cable as follows: United Kingdom Wet weather has de layed plowing and cultivation to some ex tent, but on the whole these operations have made fair progress. Threshing has also been hindered by the unsettled weather. France Continued rains have caused some fears of damage to wheat. They have also delayed field work. The government is taking active steps to bring under cultiva tion 4,000.000 acres In Northern France which have been liberated from German oc cupation and it Is hoped most of this land will be ready for sowing in the Spring. Na tive wheat supplies are fair to liberal and it Is again reported that there are larger offerings at central and western markets. Italy Severe floods In the center and north have been Injurious to the new seed ings. In the south sowings of wheat are generally favorable, although in some sec tions the crop is not altogether satisfactory. It Is feared that the next year's outturn may be unfavorably affecfed by the scarcity of labor and fertilizers. Spain Outlook for the new wheat crop Is favorable. Seeding reports are generally good, prices are declining and supplies are liberal. The general position as regards breadstuffs is much more favorable than it has been for a long time. The price for the new wheat has been fixed at 88s 6a per 480 pounds. Germany No information about the new crops is available, but expect that they are the same as in Austria-Hungary. Farm work has gone on more or less steadily in country districts, especially in those which are far distant from the big towns. North Africa Beneficial rains are re. ported in Morocco and the crop outlook Is good. ington wools in Portlard, Or., at less than their real market value and at much less than like wools brought at other designated concentration points; that the secretary of this association be Instructed to demand ! from the proper Governmental authorities at Washington, D. C, a thorough investi gation of the appraising and grading of the 1918 Washington clips consigned to Port land, Or. ; and, "Resolved. That a copy of this resolution be forwarded to Senaotrs Jones and Poin dexter, of Washington, and Senator Cham berlain, of Oregon, and that copies be for warded to the secretary of the National Wool Growers' Association at Salt Lake, Utah, and to the various newspapers In Portland, Or., and in the state of Wash ington .lor publication." Cheap Apples Clean Cp Well. The cheaper grades of apples are cleaning up on the local market, but few sales of fancy fruit are reported. Prices were firm and unchanged at the close of the week. Shipments were one car each to New York and Boston. Best New York Baldwins. A214. from cold storage, ware firm at shipping points, ruling $6.60. carloads, f. o. b., usual terms, and were generally steady at $6.50 7.50 rn lead ing jobbing markets, advancing 25c to (7.75 8.25 in Pittsburg. Extra fancy Winesaps ranged steady at $3 3.50 In leading Jobbing centers and reached $3.75 in several smaller cities. Shipments were above the recent average. Large Gain in Fish Supplies. The monthly report of the Bureau of Mar kets shows storage holdings of fish on Janu ary 15, 1919. as follows: The 102 storages that reported showed total stocks of 102,201,111 pounds of frozen fish, cured herring and mild cured salmon. The 184 storages that reported for January 5 this year and last showed present holdings f 100,835.149 pounds, compared with 59.- 51,032 pounds last year, an increase of 41,- 084,117 pounds, or 68.8 per cent. Tomatoes Coming From Mexico. A car of Mexican tomatoes is due tomor row, and they will be put on sale at $4 per lug box. The frost got the tomatoes In Cali fornia and Florida stock is too high, so the dealers are drawing on the Mexican supply. Bank Clearings. Bank clearings of the Northwestern cities yesterday were as follows: Clearings. Balances Portland $.1,773,031 $1,435,109 Seattle 5,314.400 1.793.289 Tacoma 734.603 123.172 Spokane 970.643 271.432 Clearings or Portland. Seattle and Tacoma for the past week and corresponding week in lormer years were: Fortland. Seattle POTATOES RECEIVED FROM IDAHO Local Demand I Slow Unsettled Markets in Southwest. One car of Idaho potatoes reached the local market yesterday, also three cars of Oregons. Trade on the street was slow. Burbanks were held generally at $1.75 with poor grades selling at $1.25fL50. Netted Gems were quoted at V:. '. Shipments of Oregon potatoes were two cars to Stock ton and one ouch to San Francisco and Tyler, Tex. Prices were about steady in Eastern pro duclng sections but continued to decline at some Western points. Wisconsin and Minne sota Sacked round whites met slow demand in the Chicago carlo: market at $1.801.S5I ranging weak at $1.903.15 in othe&Mld- die Western Jobbing markets. Sacked white stock was again steady In New York and Boston at $2.35(2.55. New York bulk stock Js holding about steady at $22.40 In East em markets. Colorado sacked white stock was unsettled in smaller South Central cities at $2.3002.75, carlots declining to $1.9o in Oklahoma City. Shipments were nearly up to the recent average. DECLINE IN' BUTTER IS CHECKED With Advances South and East, Demand for Cubes Becomes Strong. With recoveries at San Francisco, Chi eago and New York, the butter market lo cally had an. entirely different tone yester day. The decline for the time being has been effectually checked. As supplies here are not heavy a sharp demand for cubes developed during the day and 50 cents was freely bid for extras, but sellers were not In a hurry to part with their goods. The print price is likely to remain where It is for a few days. Eggs are beginning to come in after the storm, and the coming week is expected to see large receipts. There were sales on the street at 50 and 51 cents, case count. Buyers have put out a buying price of 48 cents the country for Monday. Poultry and dressed meat receipts were light and prices were unchanged. STORAGE BITTER HOLDING STEADY Total Stocks in Country About Same Year Ago. The monthly report of the Bureau of Markets shows cold storage holdings of creamery butter and case esgs on January 15. 1919. as follows: The 342 storages that reported creamery butter showed total stocks of 39.010, S31 pounds. The 310 storages reporting for Jan uary 15 this year and last show present hold ings of 38.833.927 pounds, compared with 38.315,317 pounds last year, an increase of 1.4 per cent. Ths 420 storages that reported case eggs showed total stocks of 373,551 cases. Th 398 storages reporting for January 15 thl year and last show present holdings 372,071 cases, compared with 650.819 cases last year, a decrease of 42.8 per cent. Oregon Bean Market Is Loner. Buyers are quoting a lower price on Ore gon beans. They are now offering 6 U cents for large whites and navy peas, re cleaned. Th general tone of the bean market throughout the country was weak during the day. Michigan navys declined 50 cents to $7 bulk per cwt.. cash to growers, re cleaned basis, declining to $8. 50 10 in leading terminal markets. California sacked 1910. 1918. 1917. 1916. 1915. 1914. 1913. 1912. 1911. 1910. MOB. 190S. 1907. 1906. 1905. .-O.S0i.722 . 18.738,715 . 13.383.824 . 9.324.000 . 9.714.394 . 9.918,821 . 9,086.675 . 9.815.484 . 8.154.484 . 8.733,605 . 6.088.405 . 4.944.577 . 5,318,301 . 4.669.452 . 3,974.139 $3.053.60 27.378.098 17.484.844 10.899.446 9.493.908 10.056.007 10.623.016 8,766.104 8.766.164 10.473.313 9,107.799 6.401.733 7.915,588 5.427.025 4.372.763 Tacoma. $4,144,940 3.628.459 2.252.557 1,440.392 1 K89.0S7 1.938.379 2.231,625 4.172.588 4.172.588 5.610.178 4.302.630 3,611.131 4.331.97S 3.573.822 2.124,510 PORTLAND MARKET QUOTATIONS Grain, Hour, Feed, Etc. Noon session Merchan's Exchange. Bid- Jan. Oats No. 2 white feod $42.00 Barley Standard feed 46.00 blanaarfl A Feb. March. $43.00 $54.50 47.00 48.00 in bulk: 42.00 43.50 47.50 48.00 42.00 43.00 52. 0O 50. 0O 52. 50 50.00 $2.20 per bu. per barrel eastern oats and corn Uats No. 3 white 40. OO 38-Ib. clipped white... 43.00 corn No. 3 yellow 82.00 No. 3 mixed 6O.00 WHEAT Government basis, FLOUR Patents. $11.05 bakers', $10.70 ii 10.83: whole wheat- I3.83& 10; graham, $9. 65 9.80; corn meals, $9.50 MILLKEED Millrun. f. o. b. mill, carlots $45 per ton: mixed csrs, $45.50; ton lots or over, $47: less than ton. $48: rolled barley $54 .ft 50. rolled oats. $3S60: around barlev $54 56. t.'UKN Whole, ton. $67 0 63: ciacked. 109 on. HAY Buying prices, f. o. b. Portland: Eastern Oregon timothy, 130 32 per ton: alfalfa, $26.50; Valley grain hay, $26; clover. 5JUM27; straw. $9,510. Dairy ana Country Produce. BUTTER Cubes, extras. 50c: prints. parchment wrappers, extras, box lots, 34c: cartons. 5Ue; half boxes, He more: less than half boxes, lc more; butterfat. No. 1, 50c per pound, station. EGOS Oregon ranch, case count. 50'z-51c: cana:ea. 00c; selects, ooxoic per dozen. CHEESE Tillamook, f. o. b. Tillamook: Triplets, 38c: Young Americas, 39c; Coos and curry county: Triplets, f. o. b. Myrtle foint. 30 c. POULTRY Hens. 28fi30c: Springs. 28e broilers, 38c; roosters, 18c;TOucks, nominal; geese, nominal; turkeys, nominal. EAL b ancy. 22c per pound. PORK FancyT 21c per pound. Fruits and Vegetables. Local Jobbing quotations: FRUITS Oranges, navels, $4.00 4.75 lemons. $5u per box; bananas, 89c; per pound, apples, $1.25 0 3.25 per box: Dears $2. 25 2. 50 per box; grapes, $7 per keg; grapefruit, S4i7. VEGETABLES CabbagsV $2.0003.00 per iuu 10s.; lottuce, szs4.-3 per crate; peppers. oc per id.; celery, JSl per crate: ege plant, 15 6 20c per pound: artichokes, $1.75 cauliflower, $3.75 per crate; garlic. SOc per pound; pumpkins, 2 u c per pound squash 2c per pound; beets, $2.25 per sack carrots. $2.25 per sack; turnips, $2.25 per sack; cucumbers, $2.20 per dozen; sprouts. 10c per pouno. POTATOES Oregon Burbanks. graded. $1.501.5; Yakimas, $1.S52; sweets, 4, 3C. ONIONS Oregon. $L852.25 per hundred. Staple Groceries. Local Jobbing quotations: SUGAR back basis: Fruit and hri- $9.55; beet, $9.25: extra C. $9.15; powdered. NUTS Walnuts, 27&35c: Brazil nuts. 32e filberts. 28c, almonds. 24 & 30c; peanuts, 16c dalt naii-grouno, iuuc, sio.oo per ton sus, S11..0 per ton; aairy, per ton. RICE Unbroken, 9 11c per pound. EEANS Jobbing prices: White, 8V4B COFFEE Roasted. In drums, 25 40c Provisions. Local Jobbing quotations: HAMS All sizes, choice, 3939Hc: stand ard, 3838Vzc; skinned, none; picnic, 27c cottaKe roll, 36c. LARD Tierce basis, 27 Vic; compound, 23Vc BACON Fancy, 51(5 53c ; standard, 47 49c: choice, 35 44c. DRY SALT Short, clear backs,2834c; plates, 541 -7c. teo in removing practically all restrictions upon credits. Leading shares opened at gains of 1 to points, these in several cases being exceeded before short covering exhausted Itself. Realizing for profits then ensued and ad vances were soon canceled, the net result in fact, showing some material losses. taking the course of today s session as a guide, it would seem that the result of the money committees action had been widely discounted in the moderate gains of the pre ceding days. in part, however, today's setback was at tributed to renewed weakness of Brooklyn Transit, which dropped to within a frac- fon of its lowest record, and: a sharp break In Mexican Petroleum, on rumors of further rnctlon with the authorities of that country. Total sales were 425,000 shares. The bank statement disclosed an actual decease of almost $31,500,000 in loans and a decrease of $18,600,000 In excess reserves, other items showing no material alteration. bonds were steady, the setback in ths stock list having no effect on them. Total sales, par value, aggregated $4,950,000. Old uwiou estates Donas wars unchanged on call during the week. CLOSING STOCK QUOTATIONS. Closing saus Am. Best Sugar 9.000 Am Can 4,400 Am. Car & Fdjr Am Locomotive BOO Am Smel. & Ref 10. Mm Am. Sugar Ref. 700 Am. Tel. & Tel. COO Anaconda Cop.. 5,100 700 70O 2,400 200 3. 200 800 1.600 1.200 2.40O 1.10O 1.200 300 7,200 4.300 12.30O 2.50O 700 :ioo i.sou 1.700 4.200 ' 300 2,300 8.800 1.6O0 700 900 Atchisun A.G. & W.I.S.L. Bait. Jt Ohio.. Butte & S Coo. Cal. Petroleum. Canadian Pac. . Cent. Leather . . Ches. & Ohio.. C. M. A St. P. . c, tt i. cc r. cr. Chino Copper .. Col. Fuel & Iron Corn Prod. Ref. Crucible Steel .. Cuba Cane Sug. Distillers fciecur. Erie Gen. Electric .. Gen. Motors Gt. Nortn. pr. . Gt. N. Ors ctfs. III. Central ... Ins. CoDDer . . . Int. Mer. M. pf . . int. Mcaei ... Int. Paper ..... ivennecott cop. Louis. A Nash.. Maxwell Motors Mex. Pet Miami Cop...... Mo. Pacific .... N. Y. Central.. N.Y.. N.H. & H. Norrolk & West. Northern Pac.. Paclnc Mail . . Pennsylvania .. Pitts, coal .... Ray Con. Cop. .. Reading ....... Rep. I. At S... Southern Pac... Southern Ry... Studebaker Cor. Texas Co. .. .... Union Paclnc... V. 8. Ind. Ale. U. S. Steel U. S. 8teel pf.. Utah Copper... Westing. Elec... Bevaueliem a... 500 29.300 700 1.900 1.400 3.100 "800 300 2.300 ' "206 5.700 1.800 T.500 3.400 6.400 3.500 2.400 5.400 S3. 300 500 2.600 1.400 13.100 High. Lew. Bid. 7oVi 70 70 14 48 47 47 01s 61 60", SU'm 72 V, 72 72 118H 113 H 113 H 100 100 V 100", 60S, 59 59 S 103S 102 102V 1M 102 102 S 49 4U 49 18 18 18 23 23 24 159 139-lti 1594 69 59 69 56 65 55 39 39 '39Va 24 Vs 24 24 34 34 34 37 37 37 49 48 48 65 65 55 24 . 24 24 63 53 53 1 16 16 150 150 150 123 123 125 93 92 92 SS 38 38 06 96 96 45 45 45 101 103 10:: 27 26 27 35 35 33 33 Vi 33 33 113 29 29 29 174 172 172 23 23 23 24 24 24 73 73 73 29 29 29 103 02 92 92 37 37 37 45 45 45 46 20 20 2U 79 79 79 75 75 75 100 99 99 27 27 27 49 49 49 190 190 190 128 127 128 103 103 103 94 02 93 11S 115 115 71 69 70 42 40 41 62 61 61 Agitation for Change in Wheat Marketing Method Stimulates Corn Selling. CHICAGO, Jan. 25. Sensational breaks In the value of grain and provisions re sulted this week largely from attempts to Judge prices in relation to world industrial and economic conditions. Assertions that Food Administration officials recognized the necessity of tower prices for consumers aid much to start fresh declines in corn and so did agitation for the bill to pro vide that the 1919 wheat crop should be disposed of In open trade, the Government paying the producer the difference from the guaranteed standard. Reports of severe congestion In France and British ports and of a virtual embargo on Canadian exports added force to bearish sentiment, which, however, was temporarily checked by word that abandonment of ths Government pries agreement policy as to hogs would not be recommended for February. Nevertheless, signs of sharp competition from Argentina led to uggresslve selling, which was inten sified by Ai usual setbacks In such food stuffs as butter, eggs and potatoes. Oats gave way with corn. and. like It, dropped to ths lowest level yet this sea- sun, rroviaions wero ruled by the same conditions as grain. Fl'B PRICES ARE ON THE DECLINE Sales Total $6,000,00 0 at St. Louis Auction to Date. ST. LOUIS. Jan. 36. Total sales lor the six --days auction of the International Fur Exchange totaled approximately $6,000,000, today's sales being $1,209,000. The sale closes next Wednesday night. In today's offerings 11,800 lynx brought $352,535, with New York buyers the prom inent bidders, the foreign trade not being interested. For 10,200 lynx cats $80,000 was bid. and 12.800 wildcats went st $23.94L Of the 70,000 wolf offered, only about three fourths were disposed of, with prices rang ing from $10 to $51 apleoe, with the aver age around $20. The market showed lynx 15 per cent lower than last October, lynx cats 20 per cent lower, wildcat 10 per cent lower and wolf 5 to 16 per cent lower. Mills Get Relief Through Government. EUGENE. Or., Jen. 25. (Special.) Re lief from the prospect of a complete shut down of the Eugene and Springfield flour mills In the near future because of an ac cumulated stock of their finished products in the warehouses here, has been relieved by the return of the Government Into the flour market. The greater part of the sur plus stock on the hands of the local mills has been taken care of by orders placed by the Government this week. That the relief for the millers will be permanent is the opinion of Elmer D. Paine, president of the Eugene Mill & Elevator Company, who pre diets further Government orders during February. Yakima Sugar Beet Price Fixed. TAK1MA, Wash., Jan. 24. (Special.) Sugar beet growers of the Toppenlsh dls trlct, who met yesterday at Toppenlsh with officers of the Utah-Idaho fcugar company. reached an agreement on a basic contract price of $10 a ton for the 1919 season, with a provision for additions up to a maximum of $12.50 a ton far high sugar content. The action was taken after hearing a report of a arowers' committee which revised a previous estimate by the growers of the cost of production. NaTal Storoj. SAVANNAH. Ga.. Jan. 25. Turpentine. quiet. 7714c Sales, none; receipts. 40 bar re Is: shipments, 15 barrels; stock, 30.6S6 barrels. Rosin, dull; sales and receipts, none; ship ments, one barrel; stock. 83.040 bsrrets. Quote: B. $13.10; D and E, $13.15; F. $13.20: O. $13.25: H, $13.30; I, $13.65: K. $15.75: M, $16.25; N and WO. $16.80; WW. $16.73. BONDS. TJ S ref 2s reg..97Pa cv 4s... do coupon "71U tr 4s TJ s 3s reg 89 IU H Steel 0s.. do coupon ....'.o ih i' cv os.... U S 4s reg. . . . M04 Vi Anglo-Fr 5s do coupon ...104 Atch gen 4s 84 D i R G ref 5s. '52 NYC deb OS. . 99 S N P 4s 84 N P 3s 0 Pac T & T 0s. ."04 Bid. .95 . 87 .100 .102 . 97N . .99.06 U S Lib uo lat cv OS. -US. Til do 2d 4s 93.20 do 1st cv 44s.96.60 do 2d CV 4s. 04.74 do 3d 4"-s. . .95.56 do 4th 4s 94.60 Mining stocks at Boston. BOSTON. Jan. 25. Closing quotations: Allouez 42' Old Dom 34 Ariz Com 11 lOsceola 48 Calu & Ariz 65 Qulncy 57 Calu & Hecla...440 (Superior 4 Centennial Cop Range . East Butte . Franklin Isle Royalle Lake Coo . . Mohawk North Butte 12'; Sup & Boston... 42 (Shannon 9 (Utah Con 3;winona 44 Wolverine 2 ! Granby Con 51 I Greene Can .... 10 I 7 93 18 74 43 NO LIVESTOCK. RECEIVED TRADING IS AT STANDSTILL AT NORTH PORTLAND. RESERVES TWO MILLIONS LOWER Members' Deposits Drop Sharply During the Past Week. WASHINGTON, Jan. 25. Reserves of the 12 Federal reserve banks fell $2,000,000 In the last week, and members' deposits with the reserve banks also dropped $70,000,000. The banks' condition at the close of business last night was reported to the Federal Re serve Board as follows: Resources Gold coin and -certificates. . . .$ 343.692,000 Gold settlement fund. F. R. board 407.698.000 Gold with foreign agencies.... 5.828. 0U0 Total gold held by banks $ 757,218,000 Federal r Gold with agents Gold redemption fund Total gold reserves $2,101,317,000 Legal tender notes, silver, etc. 67.070.000 .$1,255,192,300 88.907.000 Total reserves .$2.168.3S7.000 Bills discounted: Secured by Government war obligations $1,498,298,000 A41 other .. 263.735.000 Bills bought in open market.. 284.539.000 Total bills on hand $2,046,572,000 United States Government long- term securities S United States Government short- term securities Ail other earning assets ...... 2S.571.000 147.398. ono 4.000 Total earning assets Bank premises $ Uncollected Items (deduct from gross deposits) Five per cent redemption fund against F. R. bank notes... Ail other resources Total resources . . . $2,222,545,000 8.108.000 710.143.000 6.782.000 16.723.000 $5,132,658,000 Liabilities Capital paid in $ 80.S20.00O Surplus , 22.738.000 Government deposits 146.381 000 Due to members, reserve acct. 1.624.415.000 Deferred avaiiabllllv items.... 311.899.0oo Other deposits. Including for eign government credits.... 113.4M.0O0 Total gross deposits . .$2,396,124,000 Federal reserve notes In actual circulation $2,466,556,000 Federal reserve bank notes In circulation, net liability . 126 810 000 All other liabilities 39.610,000 Total liabilities . .$5,132,658,000 Hides and Pelts. HIDES No. 1 salted. 30 pounds and un. 13 c; No. 2 salted, 30 pounds and up, 12 c: No. 1 green, 30 pounds and up, 10c; No 2 green, 30 pounds and up, 9c; No. 1 salted bulls, 50 pounds and up, 10c; No. 2 salted bulls, 50 pounds and up, Ohio; No. 1 green bulls, 50 pounds and up, 7c; No. 1 green or salted calf skins up to 15 pounds, 30c; No. 2 green or salted oalf skins up to IS pounds, 28c; No. 1 green or salted kip skins. 15 to 80 pounds, 14ic; No. 2 green or salted kip skins, 15 to 30 pounds, 13c; dry flint hides, 7 pounds and up, 28c; dry flmt calf, under 7 pounds, 38c; dry salt hides, 7 pounds and up, 22c; dry salt self, under 7 pounds. 32c; dry cull hides, or calf, half price;, dry stags, or bulls, 18c; dry salt stags or bulls, 12c. PELTS Dry long-wool pelts, per pound, 15c; dry short-wool pelts, per pound, 10c; salted long-wool lamb pelts. each $L50 02.50; salted sheep pelts, each $1.252.25; dry sheep shearlings, each 1535c; salted sheep shearlings, each 35(3 30c. We pay 22c lor first-class veal. We pay 21c for first-class pork. Frank L. Smith Meat Co., "Fighting the Beef Trust,'" 228 Alder St., Portland. Or. We never charge commission Adv. Ratio of gold reserve to Federal reserve notes in circulation, after setting aside 3 per cent against net deposit liabilities. 64.2 per cent. Ratio of total reserves to net deposit and reaerai reserve note liabilities combined 52.2 per cent. SECURITIES MARKET IN GOOD SHAPE American Syndicate Formed to Take Up New NEW YORK. Jan. 25. LlauIdaUon in.-, dental to the transition period was less obvious In the securities market this week than in general lines of trade and Industry. In the main the market tended higher, though this was not especially obvious in the investment list. Peace problems, notably the railroad sit uatlon and uncertainty as to commodity prices, were among the most perplexing fea tures, and to these were added suggestions 01 uneasiness in tne neia or labor. Outstanding financial developments In cluded announcement of the formation of a powerful group of American financiers to take up a new British loan and the removal of long-standing credit barriers affecting collaterlal loans. Traders for the long account derived some satisfaction from the maintenance of the Bethlenem bteel dividends, xn general, how ever, the immediate future of the steel In d us try offers little encouragement, new bust ness still running behind post-war cancella tlons. Further curtailment of operations wss reported in the trade, and conditions affecting coppers snd allied metals were eaually uncertain. Preparations are under way for the com ing victory loan, but bankers are without Movement Hindered by Recent Storm Seattle Offers to Sell on Local Market. Owing mainly to the bad condition of the roads, due to the recent storm, there were no arrivals of stock at the North Port land yards yesterday. As nothing had been carried over from the preceding day busi ness was at a standstill. The lack of de mand from Seattle buyers has been a fea ture of trsding during the week. This con dition was ascribed to the strike in the Sound City. Efforts to sell on this market were made by some of the Northern firms. Notwithstanding the reduced volume of business in the Istter parte of the week prices on the local market have held quite steady. Quotations on the various classes of live stock at the local yards follow: Catt e Pi-Ice. Prime steers .. $12. on Good to choice steers 10.25 Medium to good steers 8.75 i-air to good steers .......... Common to fair steers Choice cows and heifers Good to choice cows and heifers Medium to good cows, heifers. Fair to medium cows, heifers.. Canners ..., Bu 1 - Calves 8.30 Hogs Prime mixed 16.ftO017.OO Medium mixed 16 50 16.73 Hough heavy in.UUDlo.ou Pigs 14.00 15.28 Sheen Prime lambs 13.73 Fair to medium lambs S.OO Yearlings lo.uu Wethers O.oo es O.UU ORIGINS Or j LIVESTOCK LOADED Shipments to the Leading Markets or tne Pacific Northwcot. State origins of livestock loaded January 24, 1910: Cattle, Horses, .via. Calves. Hogs. Sheop.Mules.Sfk. I or rortiauu a 13 no ft 11.25 i : s 1. IOI ' 8. ID 8.75l 7.25 P.23O10.25 R.73( 0.75 7.503 I 8.50 5.75 1 6.73 3.50 i 6.00 O ciOSI 0.00 13 M ' 1 l N it 11.00 11.50 3 10.00 i 8 00 Idaho Oregon Utah . . Total Portland One week ugo. . Four weeks ago. One year ago. . . For Seattle Idaho Oregon Minnesota ..... Total Seattle.. One week ago.. Four weeks ago. For Spokane Idaho .......... South Dakota.... Washington .... Total Spokane One week ago.. Fctur weeks ago.. One year ago. . . 11 a 4 R 8 1 14 11 4 Chicago Livestock Market. CHICAGO. Jan. 25. (U. s. Bureau of Markets.) Hogs Receipts 13.000. msrket slow, about steady with yesterday's average- many light and light mixed unsold: bulk of sales. $17.40tr 17.65 ; butchers. $17.60 17 70- light. $16.75 17.45: packing. $16.50 17 30; throwouts. $15.73016.50; pigs, good to choice. $11.75614 50. Cuttle Receipts 1000. compared with a week ago. choice 'and prime fed steers steady, others 23c to 60c lower. Most de cline on $16.50 to $18 grades. Fat cows and heifers unevenly SOc to $1 lower; canners and bologna bulls 60 cents lower. Beef bulls and calves $1.50 lower; strong weight feeder steers 26 cents lower; light stock slow to 25 cents lowsr. Sheep Receipts 3000. compared with a week ago, fat lambs and light yearlings mostly 50 cents lower. Fat sheep 25 cents lower. " Y Omaha Livestock Market. OMAHA. Jan. 25. Hogs Receipts S300, steady. Heavy, $16 90 17.35; mixed. $18.00 17.10; llgh-t. 16.S0 17.20; pigs. $10g 13.60: bulk. $16.90 17.10. Cattle Receipts 200, steady. Native steers, $12.50 18.50: cows and heifers, $7.56 '::14: Western steers, $10016: Texas steers, $012.50: cows, and heifers. $711.50; can ners. $0.50 47.50; stock era and feeders. $0.50913.50; calves, $8 13-73; bulls, stags, etc.. $7.50011.50. Sheet Receipts 200. steady. Culls. $5't9: wethers. $1011; ewes. $9010: lambs, $13.50 15.73; feeders, $10 13.40; yearlings, $12 13. Seattle Livestock Market. SEATTLE. Jan. 25. Hogs Steady. No receipts. Prime, $17.2517.40; medium to choice, $17 17.15: rough heavies, $loU 13.00: Pigs. $15016.40. Cattle Receipts 32. Steady. Best steers, $11.5013.50: medium to choice. $10.50011: common to good, $69.30; best cows snd heifers, $8.5010.5O; common to medium, $597.50; Dulls. $598; calves, $7012.50. I IS YOUR MONEY SAFELY INVESTED? The desire to make a fortune over night is a sensation which comes to most of us, and very often is difficult to withstand. But it has been proven so repeatedly that such a desire is impracticable, that there is no sound reason why we should succumb to it. Isn't it wiser and better to invest your money rather than speculate with it? Isn't it better to invest it in Government and Municipal Bonds that are direct liens and general obligations against all of the resources for the benefit of which the bonds are issued, taking a return of 4V to 6rL. on your invested capital, knowing that your money is safe and interest assured, rather than puting it into stocks or bonds that are less substantial? It is far better to build for life than to speculate for fortune. Let us assist you in building a life fortune that shall bring the rewards of money safely invested. OREGON Rate Maturity Price Tleia 75,000 Astoria Sanitary and Reclam.. 5 A&O 1928-58 100.00 5.00 3.000 Astorla, City of. Oregon. Water 5 J&J 1937 100.00 5.00 4C8 -Astoria. City of. Municipal.... 6 Sep 1936 To Net 5.50 10.148- Astoria, Ore.. Imp. Ser. No. 15.. 6 K&A 1931-38 To Net 6.60-60 r.OOO Bend, City of. Ore.. Fire Equip. 6 M&S 1931 To Net 5.25 3.000 - " " " M&8 1932 To Net 6.25 500 tForest Grove, Citv of. Or . Rfdg 6 MiN 1934 107.00 5.25 4.500 t . " " " MAX 1933 107.37 5.25 1.000 tLlnnton. City of. Ore 6 J&J 1919 100.49 5.00 500 tOregron City. Oregon. Imp J&D 1921-25 102.03 6.125 1.000 tOregon City, Oregon. Water 5 A&O 1943 100.00 5.00 600 tPortland. Ore. Imp 6 F&A 1919 100.49 5.00 1,000 tPortlauidlore.. Imp 6 J&J 1920 101.41 5.00 S0.000 PortlandFcity of. Ore-. Water.. 4 M&S 1937 93.6S 4.60 50.000 "Portland. City of. Ore.. Dock... J&D 1943 97.08 4.70 8.000 Warrenton. City of. Ore., Muni.. C M&N 192833 100.00 6.00 WASHINGTON 6.000 Clark County, Wash.. Funding 3.000 Klng Co., Wash.. Harbor Imp.. 1.000 Seattle. City of. Wash 1.000 Seattle. City of. Wash.. 8. D 6.000 Seattle. City of. Wash., S. D 1.000 t Yakima County, Wash., Road.. IDAHO 1.000 tCoeur d'Alene. Idaho, Refdg.. 3.000 t " - 1.000 'Gooding Co., Ida-. High. & Bdge. 3.000 - - 3.000 t 3.000 t 1.000 Nes Perce County. Idaho 6 1.000 Neg Perce County. Idaho J&J 1938 a tt CANADA 2.000 'Alberta. Province of 4H F&A 1924 95.88 6.50 74.200 t Alberta. Province of 5 J&J 1939 100.00 5 50 - S7.000 Greater Winnipeg Water Die.. 5 J&J 1931 97.71 COO 50.000 Greater Winnipeg Water Dia.. 5 J&J 1922 96. SS 6.00 1.000 tGreater Winnipeg Water Dig.. 5 J&D 1923 96 49 6.00 89.000 Montreal. City of. Pro. Quebec 6 M&N 1923 100.94 6.75 55.000 IMontreal, City of. Pro. Quebec J&D 1922 100.88 6.75 1.000 Saskatchewan. Province of 5 M&N 1921 98.85 E.75 16.000 Toronto. City of. Ont S J&D 1921 98.55 5.76 1,000 'Toronto, City of. Ont 5 J&D 1922 97.70 5.76 UNITED STATES GOVERNMENT BONDS 3..000 I Federal Farm Loans 4Vs M&N 1922-37 100.81 4.25 -Denotes fractional bond. tDcnotes bonds of $500 denomination. Denotes bonda of $1,000 denomination. tDcnotes bonds of $100. $600 atid $1000 denomination. "Exempt from all Federal income taxes. ttExempt from all Dominion government taxation. Liberty Bonds of the U. S. Government If job MIST asMI your Liberty ltond. sell to mm. If you cu bay more Liberty Bondx. buy from us. We buy and we sell Liberty Bonds at the market. On Suturday January 25, we paid the following: prices for United States Government Liberty Bonds, which was the New York market price, plus accrued interest, less 75c for $10o bonds and $2.50 for $1000 bonfe: $100 Bond $1000 Bond First LlbfJrty Loan IM Bonds $98.73 $992.39 First Liberty Loan SVi-Ti Bonds converted into 4 93.19 936.94 First Liberty Loan 3hr Bonds converted Into 4)4.. 95.32 958.22 Second Liberty Loan 4 Bonds 93.32 938.28 Second Liberty Loan ( Bonds converted into 4 V .- 94.85 953.68 Third Liberty Loan 4K Bonds 96.33 968.25 Fourth Liberty Loan 1 Bonds 94.90 954.04 SAFE DEPOSIT BOIES MORRIS BROTHERS, Inc. The Premier Municipal Bond House -1 ' STARK STREET. BETWEEN 5TH AND 6TH (GROUND FLOOR) Tf-lefhoaei Broadway 2131 Established Over S5 Years 5.i J&J 1921 100.94 5.00 4 J&J 1924 99.04 4.70 4 M&N 1928 95 00 4.70 H M&N 1928 98.66 4.70 4tt M&N 1926 93.82 4.70 C J&J 1920 101.60 6.30 J&J 1925 103.82 6.36 J&J 1926 104.33 5.25 6 J&J 1927 103.87 5.60 J&J 1923 103.87 6.60 C J&J 1929 102.87 5.50 J&J 1930 103.87 50 6 J&J 1935 105.33 6.50 5 J&J 1936 105.67 5.50 FALL IN CORN CONTINUES LIQUIDATION STILL AFFECTS CHICAGO MARKET. Prices CIokc Unsettled 2 to 5 Cents Net Lower Sentiment Against High Prices Influence. CHICAGO. Jan. 23. Heavy liquidation broke out again today In the corn market and smashed prices hard, notwithstanding- a temporary check due to the passage of the $100,000,000 measure to relieve food dis tress In Europe. Sentiment against domestic high oosl of Uvtng was the predominant bearish Influence. The close was unsettled., 2c to SHc net lower, with May 31.13 1.15 and July, $1.13. Oats fell llc, and provisions 7ctr$l. In oats, as In corn, liquidation wss ths main feature Prices touched were lowest since late In 1017. Provisions dropped sharply owing to the weakness of grain. Leading futures ranged as follows: CORN. Open. High. Low. May $1.17ti 81.10H $114'4 July 1.14 1.16 Cm OATS. May 50 .00 .67 July .67 JK .66 MBSS PORK. Close. 1.13 .56 Jan. May Jan. May Jan. May 37.60 37.78 LARD. 3: on 22 -SO 22.M ..22.33 22.77 SHORT RIBS. 23.00 .22.00 ..20.92 21.20 20.112 43. OO 07.60 22.67 -- t.T 22 P0 20 12 t'jih Tirlees were: Corn No. 2 yellow. $1.S2: No. 3 yellow. $1.1891.10; No. 5 yellow. 41.14 1-18. Oats No. 3 white. 66w38c; standard, 67OO0HC Rye No. 2. ft. 5901.60. Barley SO 97c. Timothy $Si 10.50. Clover Nominal. Pork Nominal. lard $22.67. Ribs $23 to 23.87. Minneapolis Grain Market. MINNEAPOLIS, Jan. 25. Barley. 820S8c. Flax. I3.10w3.21. Grain at San Francisco. SAN FRANCISCO. Jan. 23. Flour, $11.45 per barrel. - Grain Wheat, Federal basis. S2.20; white teed oats, unquoted: aCllfornta yellow corn, $2 T0W3: barley, feed, $2.17. Hay Wheat or wheat and oats. 822Q2I: tame oats. $21923.60; barley. $161: al falfa. $16 020: barley straw, 50O SOc. Meals Alfalfa. $36: coeoanut unquoted. Eastern Dairy Produce. S'KW YORK. Jan. 23. Butter, weaker; creamery higher than extras, 55 060c; ex tras. 65c: firsts, 52B54o. Etfff and cheese, qfteady and unchanged. CHICAGO. Jan. 25. Butter. higher. Creamery. 47 0 53c. Eggs, lower. Receipts. 4143 cases: firsts, 63c: ordinary firsts. 51 52c; st mark, cases Included, 51 &Sc. BAN FRANCISCO FBOUl'CS MARKET Prices Cnrrent en rus. Vegetables. Fresb Fruits. Etc., at Bay City. SAN FRAXC1SCO, Jan. 25. Butter, 50 5 Hie Eggs Fresh extras, &3e; fresh extra pul lets. 46 c Cheese Firsts, 32c; young Americas, 42c Poultry Hens 36 38c; young roosters, 37 &3'jc; fryers. 4043c: broilers. 40O tic; pigeons, $2.253; squabs. 3360c; geese 3032c; turkeys, dressed, 3941c Vegetables Celery, $5.507.25; squssh, cream, 75c 81: hubbard, $L302: Summer, 75c$l; eggplant, oQSc: peppers, bell, 30 if 75c; chile. 12 15c: tomatoes. (2.75 3.25; lettuce. Los Angeles. $2.753.25 crste; potatoes, Salinas. $2.502.6o; rivers. $2 2.13; sweet. $3.65 0 3.75: new. &7c: onions Australian brown. $L7302 cental: pearl. 506c: garlic. 23O30c: cauliflower, 75c Oil. beets, $16L50; carrots, Jl.50fil.75. tur nips. $101.25: string beans. 2530c: lima. 13 017r: wax. 20025c; green onions, $10 1.30; rhubarb. $2.7503.23: mushrooms, 403 00c; brussels sprouts, 80c; cucumbers. $2.30 3: peas. 1217c. Fruit Lemons. $2.304.73: tangerines, $1.750 2.50; bananas. 78c: pineapples. $3 5; apples, Newtown Pippins, $1.832. Spltzenbergs. $393.25: grapefruit, $2500 3.23: Bartlett pears. $2.303; persimmons. $101.23. Receipts Flour. 20.312 quarters: barley, 2405 centals: beans. 1861 sscks: potatoes, 6344 sscks; hay. 183 tons: hides, 32; wlue, 115.S00 gallons. Coffee Loses Recent Advance. NEW YORK, Jan. 25. There was a fur ther decline In the market for coffee fu tures today and prices have now lost nesrly sll the recent rally. Closing bids: May. 13.18c; July. 13.03c: September. 12. '.-; Oc tober. 12.s5c; December, 12.78c; January, 12.70c. Spot coffee. Irregular; Rto 7s. 14c: San tos 4s, 21 c No fresh offers were reported In the cost and freight market. topper Market Quiet. NEW TORK. Jan. 25. Ths copper mar. ket lias remained very quiet during the past week. Large producers are still holding electrolytic at 23c. but offering to guarantee buyers against any cut In their own quota tions, while some of the smaller handlers are quoting 10c to 20c without securing much business Decrease In Excess Reserves. NEW TORK. Jan. 25. The actual con dition of clearing-house banks and trust companies for the week shows that they hold $46,143,770 reserve in excess of legal requirements. This Is a decrease of $18, 501.780 from last week. Sales of Taklma Apples Reported. TAKIMA. Wash.. Jan. 24. tSpectal.) Sales of several carloads of fancy apples at $8 a box f. o. b. Taklma by shippers here and In Selaa were reported yesterday. Ont of ths shippers today refused offers of $3 for further shipments and raised his quo tations to $3.23. Money. Exchange, Etc. NEW TORK, Jan. 23. Mercantile paper, unchanged: francs, unchanged: guilders, demand. 41c: cables. 41c: lire, unchanged. Mexican dollars, unchanged. Dried Fruit at New York. NEW YORK. Jan.- 25. Evaporated apples, strong: prunes, few here; peaches, nominal. Cotton Market. NEW TORK. Jan. 25. Cotton Spot, quiet. Middling. 26.20c. Duluth Linseed Market. DULVTU. Jan. 36. Unseed. $3.21. RETURN RAILROADS IS PLEA Member of Lane County i .In As sociation Go on Record. EUGENE. Or.. Jan. 25. (Special.) That the railroads should be turned back to corporate control as rapidly as possible is the decision reached by the members of the Lane County Credit Association, voting; on a referendum question submitted by the National Rivers and Harbors Consrress, "Shall theways fie allowed to continue mak ing; extraordinarily low rates to points on waterways, while maintaining much higher rates to inland points?" The association also went on record as favoring control of waterways, as well as railways, by the Interstate Commerce Commission, and that the commission not only be given author ity to establish through rail and water routes, but fix both maximum and minimum rates. to whom he was married in June, 1914. Equals charges that his wife mot Harry Row. the soldier in the case, at Van couver, Wash., last August, and she has said that she would go with Row whenever she pleased. OVERBEGK & COOKE GO. Broker. Mocks, Bond. Cotton. C.rmin. Etc 111 111 BOARD OF TRADE HI. PC. MKMllKRS CHICAGO BOABD OF TRADE. MEMBERS Correspondents of I tan A lir jn, hi rn go and New York. New York Stork Kxchtnfff. hirsco Stork ExehjuiKe. Boston Stork Exehanfe. ' . Board of Trade. New York Cotton Exrhanse. New Orlesuu Cotton Ksrhansre. New York Coffee I liur.cr. New York Produce Kirtuncf. Liverpool Cotton A - . $10 OPTIONS $20 Most satisfactory, all methods speculation, Loss limited to small coat option. PROFITS 1 M 1MITEI). Special letter 10 explains fully, alao 12 valuable rules tor stock Traders FKKE. RANDOLPH N-w Stre-t. N ROSE w York City. OIL PRESS FREE Don't buy or sell any oil stocks until yon read the MM -Continent Oil Pre. Im partial and Inside facta about different oil companies. Any oil question an swered. The truth about the oil busi ness In general. Big semi-monthly. Il lustrated. Subscription price. $1.50 a year. Trial subscription, with map of Mld-Gontlaent field, aent free without obligation. Mid-Continent Oil Press. 90s Republic Oldg.. Kansas City. Mo. Wife Transfers Love, Is Charge. EUGENE, Or.. Jan. 26 (Special.) Because, he alleges, his wife has trans ferred her affections from him to a soldier of the Spruce Division, by whose "nice - uniform" she was attracted, Maurice J. Equals, of this city, is ask ing" a divorce from Grace May Equals, HOW TO SUCCEED IN SPECULATION A S2-page booklet full of valuable In formation, tells of the ONLY reliable aay to obtain profitable realuts. It's I Ki t I' poll Bequest. W. c. MOORR. Established 100S. -.1 Wall St.. New Tork. BETTER STOCK MORE PROFIT when you use an INDIANA SILO Spaulding Logging Co. Salem, Or. TRAVELERS' GUIDE. AUSTRALIA Honolulu. Suva, New Zealand UNADIAH AUSTRALASIAN ROYAL MAIL LINE Largest, newest, best-equipped stesjmera. For fares and sailings apply t an. Pac. Rail way. 55 Third St., Portlajfrd. or General Agent 440 bcymoux m., Vtutcanver. B. I .