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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Jan. 9, 1921)
THE SUNDAY OREGOXIAX, PORTLAND, JANUARY 9, 1921 21 PRUNE MARKETING RIG PROBLEM Net Over Quarter of Oregon and Washington Crop Sold. DEMAND NOW IS STAGNANT Xrnlc foreign Buying Is Resumed, bupply May Bo Carried Over liilo Vest Year. The prune trade is inactive in all mar kets and prices are weak. How to find an outlet for last year's crop, as well as the 11! carry-over, is the problem that face the industry. The domeatfc de mand does not appear able to absorb the big supply and there is also no foreign Inquiry. Whether export trade will develop toward prinp wilt depend n a number of factors, exchange, prices here and the ability of Europe, to take prunes. Discussing the situation, as It affects the Oregon Industry, C. L. Dick f Mason, Ehrman & Co., said: "Prune packers have been buying; and selling; Oregon and 'Washington prunes for 2.1 yean, pursuing the practice of enter ing the market along with California and always securing their portion of th busi ness. Generally, this was early In the iummr and by January 1. the crop was all out of the country and the growers had their mrnipy. This method proved of rre.it benefit, as California produces a much larger crop than the northwest and is very active In marketing its crop. "This year, new Interests have entered the field, changing the whole system by advising the trade throughout the country to withhold their orders until a price was named, leaving the Impression that by doing so they would save considerable money. No figures were named until September 11, 1020, by which time Cali fornia had disposed of 100.000,000 pounds by contract. "Fo: lowing the old law of supply and demand, it would appear that the demand has been supplied by our neighbors, the annua1! consumption In this country being not over 12.",Ooo,ofto pounds and at least 2.r,000,flOi) pounds being carried over from the 1910 crop. "Not or 25 per cent of the 1920 crop of Oreson and Washington prunes has been disposed of and unless an export demand developes, the balance will be carried Into next year. Buyers ri over this country will not take on any more prunes until they have disposed of the Californias they hare on hand. "The Oregon and Washington crop was harvested the past year at the highest cost ever experienced, labor and wood, the main elements, being very high and now for this crop to be carried over, will. It would seem, result in heavy losses." f large at $3.15t?3.2u; medium. $2,35 9 $3.10. mostly $2.633.10; 1453 boxes ex tra fancy, medium. $3. 45ft 3.80; small, 12 70t2.85: fancy, large. 3.50; medium, S2.3U&3.10: smai;, 2; choice, lartje, $2.50; mall to medium, $1.85$ 2.05. Northwestern apple sales to jobbers in the eastern markets were at the follow ing quotations: At New York Spltzenbergs. extra fancy, large. $4.755.25, mostly $5.00; medium, $3.504.00; small, $3.754.00. Homes, ex tra fancy, large, :".. 3.5. few, $3.50; medium. $-5& S.TS, small mostly $2.50; fancy, large. $2.753.00, few $3.25. New towns, extra fancy. large, $3.75j-00; amall to medium. $2.7503.50; fancy, iarge, $32563.50; small to medium. $2.25&3.0O. mostly around $2.50. Wlnesaps. extra fancy, large, $4.00 4.25; small to medium. $3,250 3.75. Staymana. extra fancy, large. $3.5003.75: medlifm, $2.7503.25. At Chicago Jonathans, extra fancy, all sizes, quality and conditio! good. $2,000 2.75. Delicious, extra fancy, medium to axrae S J 25 't 3.00. Soltzettberga, extra fancy, medium to large. $3.253.30; small to medium. $2.7503.25. Bomes, extra fan cy, medium to large. $3.00 0 3.25: small to medium. $2.250 2.75. Winter Bananas, ex tra fancy, a.11 sizes, quality And condition good, $2.2503.00. OKDEKS FOB ECUS BOM OLTSIDE Buyers Show Smalt Interest in Cube Butter Market. The egg market was steady. Kecelpts were fairly large, but outside orders took care uf the surplus. There were sales on the street at 47 and 48 cents, case count. Butter of all grades was slow. Cube stocks were not heavy, but buyers showed little interest in the market. Poultry and dressed meat receipts wert small and prices were steady and un changed. COFFEE PRICES BACK TO XORMAJL Pre-War Quotations Are Now Available to Consumers. Coffee prices are back to normal. De clines put into effect by local jobbers yes terday again enable consumers to buy the highest grade of coffee in fiber cans at the pre-war price of 40 cents. The sugar market has a weak under tone. It Is the expectation that lower prices will be announced by the California refiners Monday. STOCKS LOWER IT CLOSE!": WEAKXESS APPEARS IX OILS, STEELS AXD SHIPPINGS. Late Rallies Fail to Offset Earlier Losses Bond Market Is Dull and Heavy. other liabilities Total liabilities . . $6,185,710,000 Ratio of total reserves to net deposits and federal reserve note liabilities com bined. 4.4 per cent. Ratio of gold reserves to federal reserve notes in circulation after setting aside 35 per cent against net deposit liabilities. 52.1 per cent. MONEY SUPPLY IS STILX LIMITED Sharp Decline in Turpentine. A big decline of 20 cents a gallon in turpentine was announced by dealers yes terday. Cases are now quoted at $1.30 and tanks at $1.21. White lead, red lead and litharge de Clined 1 cent a pound to Hi $4 cents for ion lots and over. WHEAT TRADING BETWEEN DEALERS Club Hid Three Cent Higher on Local K,ard Hard White I ncbanged. There was a good volume of business In the wheat market at the close of the week, but the trading was largely between deal ers. Farmers In some sections, however, ehowed mere disposition to meet the mjar ket. Hard white bids were unchanged on the local board at SI. 00, but club was 3 cents higher than Friday at $1.58. Soft white offers wre raised 1 cent and other grades were unchanged. Barley bids were advanced 50 cents. Other coarse grains were the same as Fri day. The mill-run market continues firm, but rolled oats, rolled barley, - :.u ji feed and corn were reduced $1. A bulletin from Chicago said: "Export wheat sales are placed at 750.000 bushels to Italy. Germany and Scandinavia. Greece Is expected to ask for offers for 1,000,000 bushels of wheat for mid January. Spain is after two cargoes. Owing to reduced area and yield In New South Wales. Aus tralia's surplus Is reduced to 104.000,000 bushels maximum. The Australian harvest Is progressing lowly, being delayed by heavy rains. Cables from India estimated this week's wheat exports at 1,000,000 bushels. Pros pects for the new crop are fair as a large part of It was sown on Irrigated land and will do well. San Francisco stocks of grain, etc.. in call board warehouses on January l : Wheal. 24,os tops versus 54.752 tons a year ago; barley, 5,770 tons versus 44.191 tons; oats, 478 tons versus 2OS0 tons; corn, 249 tons versus 240 tons; bran. 25 tons versus 112'tons: beans. 1H1.434 sacks ver sus 303.620 sacks. Receipts at San Fran cisco during December. IWJ0. Wheat. 1628 tons; barley, 19,807 tons. oats. 1747 tons; corn, 400 tons; bran, 73 tons ; hay. 4113 tons; beans, 39,061 sacks. Terminal receipts, in cars, were reported by the merchants' exchange as follows: Wheat Ilarl fc'tntir Pl.t- tl.ir Ul l i & MU Oil, . I). I Year ago .... 22 Total this week. 2US Year ago .... lUS Season to date. 9121 Year aieo . . . .5224 Taeoma Friday 2 Year ago .... 18 Season to date. 3087 Year ago . . . .4025 Seattle Friday. 4 Year ago .... 5 Season to date 3093 Year ago . . . .3811 Bunk Clearing. Bank clearings of the northwestern cities yesterday were as follows: Clearings. Balances. Portland $4,471,807 $ 761.621 Seattle 4,677.-53 1,186.938 Taeoma 635.337 76.047 Spokane 1,926.488 939.300 Clearings of Portland. Seattle and Ta eoma for the past week and corresponding week, in furmer years were: Portland. Seattle. $31. 269, 701 SS.319M NEW YORK, Jan. 8. The stock market session today opened with a moderate show of strength, some buying and short covering evidently being prompted by the encouraging observations of Governor Harding of the federal reserve board. Trading had not proceeded beyond the I initial stage, however, before fresh weak ness developed In the shippings, steels and oils with Atlantic Gulf, Crucible Steel and Mexican Petroleum as the chief ob jectives. Declines of two to six points In these issues soon had their effect In the general list, where other popular shares forfeited one to three points. Nomina! rallies en sued under cover of a sharp rise in Gen oral Asphalt and International Paper, but these were not sustained, many material losses being registered at the heavy close. Sales amounted to-500.000 shares. News of the day which bore more or less pertinently on market values Included the statement that 1.000.000 tons of ship ping had been wtthdrawn from trade by the shipping board, opening of bids by the government for the sale of 56.000.000 pounds of copper and announcement that one of the largest independent steel pro ducing companies had written off $5,000. 000 in Its inventory to get down to a "replacement basis." Considering the turn Into the new year, the clearing house statement showed few important changes for the week, aside from a contraction of slightly more than $54,000,000 In actual loans and discounts and an Increase .approximating $50,000,000 in net demand deposits. The bond market was dull and heavy, reflecting the reversal In stocks. Liberty issues forfeited part of their recent gains and foreign flotations also eased. Total sales, par value, $0,150,000. Old United States bonds were unchanged on call for the week. Higns of Change for Better in Stock and Bond Markets. NEW YORK. Jan. 8. A lively and di versified stock market at substantially higher prices, a fair demand for bonds and affiliated securities als.0 at appreciable advances and other signs of a turn for the better attended the new year in the financial district. There was no perceptible easement of rates for money and the supply of avail able funds was again limited, despite re ported heavy receipts from the interior. The beet judgment is that the money mar ket will show no pronounced change until iate this month. Authoritative surveys and forecasts, In cluding the views of Governor Harding of the federal reserve board, sounded an op timistic note jn the main, but these were tempered by allusions to the labor mar ket, wage reductions and further curtail ment of Industrial enterprises. Bankers urged the need of economy and thrift, but disagreed with those observers who predicted a decade of downward com- I IMUUI1J l'I UC, - ' 111 l .J I.- ... . V dividends and more serious disturbance to domestic commerce and related branches of manufacture. Foreign trade conditions. It Is consid ered, are becoming increasingly complex and hazardous by the delay In stabilizing international remittances. Recent bank failure? in England, Spain. Scandinavia and Mexico are believed to have resulted mainly from these conditlona Leading financial Interests now have under advisement an unususJ number of foreign undertakings and their consum mation would automatically relieve th prolonged strain on international credits. WHEAT UNDERTONE GOOD SEXTIMEXT FAVORS BUYING SIDE OF MARKET. Export Business With Continental Countries Responsible tor Strength at Chicago. CLOSING STOCK QUOTATIONS. ForeJicn Exchange. ForeiRTi exchange rate, at close of busi ness yesterday, furnished bv Northwestern National bank of Portland. The amount quoted is the equivalent in United States dollars: Country. Foreifrn unit. Rate. Austria, kronen .' $ .0027 lftau. lV-'O. 191!. 1018. 11117. 11)18. 11115. 1U14. 1913. 1912. It 11. 3."., 073.359 25.593,935 18.901.018 15.4U3.821 lo.b'10,340 11.029.742 12.324. 41S 11.779.248 10.210.901 9.52K.084 35.391.518 27.182,272 18.238.782 12 299. 283 12.1SU.N05 13.924.S32 12.025.53O to. 854. sue 9,097.487 Taeoma. 14.304. 498 4.552.780 4.892.581 4.070.313 2.7K3.108 2.038.598 1.O31.203 2.179.2S2 2.850,023 4.402.300 4.026.51S PORTLAND MARKET QUOTATIONS (.ram, Hour, Feed. Etc. Merchants' Exchange, noon sos-iun. January February Wheat Bid. Bid. Hard white 1 1.80 J 1.60 Soft white 1.55 . 1. 55 White clab 1.58 1.58 Hard winter ' 1.52 1.32 Northern spring 1.52 1.52 Red Walla 1.50 1.00 Oata No. 2 white feed 34.00 34.50 No. 2 gray 32.50 32.50 Barley Brewing 33.50 33.50 Standard feed 33.00 33.00 Mlllrun: Corn No. 3 E. V shipment 34.00 34.00 FI.OL'R Family patonta. $9.80; bakers'. SS.75; valley patent. $7.40; whole wheat. IS. 20; graham, 13. MILLFEED Prices f. o. b. mill. Mill run, )3U per ton; rolled barley, i441i4ti; rolled oats. $40; scratch feed, too per ton. CORN Whoie, $44; cracked. $47 per Sales. Am Beet Sug 800 American Can l.suo Am Car & Fdy 1.400 Am H & L. Pfd 1.100 Am Inter Corp 4.000 American Loco 800 Am Smt & Rfg 300 American Sliff 300 Am Sura Tob 1.500 Am Tel & Tel 1.000 Ameri Woolen 3.18)0 Am Z L fc S 300 Anaconda Cop 3.900 Atchison 600 At Gf W In 19.500 Ba'dwln Loco 12,000 Balti & Ohio 1.100 Bethle Steel B 4.500 But & Sup Cop 200 Cal Petroleum 4.800 Canadian Paci 1.000 Centrl Leather 5.700 Chandler Mtrs 3.400 Ches & Ohio 1.S00 Chi Mil & St P 200 Chtc'go & N W 500 Chi R I & Pac 1.800 Chlno Copper.. 3.S00 Corn Products 2,400 Crucible Steel 18.000 Cuba Cane Sug 100 Erie 800 Uenerl Electric 1.000 Generl Motors 1S.900 Grt North Pfd 200 Illinois Centrl 300 lnspira Copper 400 lt Me Ma Pfd 800 intern Nickel 3.S00 Interna Paper 9.700 Kan Cty South 900 Kenne Copper 1.M0 Louis- & Nash 500 Mex Petroleum 15.200 Miami Copper 1.10O Mid States Oil Mldvale Steel Missouri Paci Nevada Copper New York Cen N 1' N H & H Nor & Western 10.400 4.400 2.4O0 400 3.900 3.400 1 .200 1.200 1.700 7.900 1,300 ton. HAY Buying prices, f. o. b. Portland Alfalfa, S-i'.iJl per ton; cheat, $22fe23 clover, $20; valley timothy, IXIfJls; eaal ern Oregon timothy, ttfc Dairy ana Country Produce. BUTTER Cubes, extras, 4546c per lb.: prints, parchment wrapped, in box lots, 49c per lb.; carton... 50c; half more: butterfat, buying price, 39c per pound al stations; A grade, 40c; B grade, 44c, Port land delivery. EOX3S Buying prices, case count, 45c Jobbing price to retailers, candled ranch 32c; selects. 54c; pullets, 49c. i CHEESE Tillamook triplets, price tt jobbers, f. o. b. Tillamook. 30c. POULTRY Hens, 2ffUe; springs, 25 30c; ducks, 25b40c; geese, 32c, turkeyi. live, nominal; turkeys, dressed, nomina. PORK Fancy, K4c per pound. VEAL Fancy. 1st- per pound. 4 11 S 14 1 17 2 51 90 11 54 173 4U 295 1260 141 2333 371 1032 1 2 1 1 1 40 557 73 367 64 . . 130 373 1 1 t 1 173 207 286 1017 189 44 1 474 830 LltfcsiTOt'K STEADY AT THE CLOSE Good Kan al Yard... but Moat of Supply Comes I' m, t Sixteen loads of stock reached the North Portltl.d yards yesterday, hut most of the supply came direct. There was very little ous'iies in me open market and were unchanged. The tone was suady in all lines. The day" were S2 cattle and S00 hogs. The following prices are current at loot: yards: Cattle Choice steers GhI to choice steers I . . 3seutum to choice steers...;.. Fclr to good steers Common to good steers Chi cons and heifers Ooutl tc choice cows, nelfers.. Medium to good cows, heifers. Fi.tr to medium cows, heifers. Cwasmr.n to fair cows, heifers. Canuers prices reported receipts the' t; n o Bu: Choice dairy calves r!me light calves Heavy calves Best feeders Fair tt good feeders I was Prime mixed Smooth heavy Rc-utS heavy Fat pigs FMMlT pigS Sheep- Ka-.t-uf-mountain lambs Va:ie lambs Hcev) lambs. 90 lbs. and up. Feeder lsmbs Cull lambs Lagnt yearlings Heavy yearlings Wethers Ewes Prices. t 8.30n 9 25 S.OO 8.50 l..utf 8.00 I o.ooy 5.50 ti 7.00 u 0.2;. I S .".0 5.004 4.00Jr 5.00 I'.oOU g 50 5.0O9 6.00 12.0OS 11.00 10.U0.J 12 00 6.00.1 7 50 6.75 V 7.23 3.75J 6.73 12 00 w 12 . .13 II. 50(1 12 1)0 7.50s, io lO.OOti 11.00 S.004J 10 00 9.50 ei 10.23 9.00 9.30 7.00 tf 6.00 1.04)1 7 (V. 0 0oy tl.Ontj 1.00 if 8.50 7.00 6.00 io 7 00 6 50 4.00 API T.KS SLOW IN WESTERN MARKETS it New York Oregun Spitxrnherg. toted Auction Sale. There was a steady local call for ap ples, particularly the better grades and large sizes. Prlcee were not materially changed during the week. Car-lot buying at Interior points was mail. Wenatchee sold extra fancy Wine saps, medium to large, at $2. Yakima and other sections sold Romes. fancy, medium to large, at 41,50. Oregon Spitxenoergs sold at the New Tork auction as follows: 755 boxes fancy VrolU and Vegetables. FRUIT Oranges, navels. $3.75i5: Jap anese. $3.25 per bundle: lemons. $3.75 4 75 box; grape. ruit. $g.2a(8.0O per box; bananas, 1241 13Vjc per pound: grape. $5.25 lug; apples, $13.50 per box. pears, $21x2.20 per box. VEGETABLES Cabbage, ltj:iic per pound: lettuce. $3-25i3.r5 per crate; cucumbers. $1 75ii2 per doxen; carrots. $1. 50.1ft. 75 per. sack; garlic, 23c; beets, $1.30 sack; eggplant, 20c pound; cauli flower. $2 ft 3.25 per crate; celery, $5 5.50 per crate; green peppers. 13c per pound: sprouts. 17 '-ic per pound: squash "i.... nmr nounri- numnklns. 2lc per pound rhubarb. 20c per pound; spinach. $1.402 1 5rt hnx- tomatoes. $4 a 5 per crate. POTATOES Oregon. $130rl.75 per 10" pounds: Yakima. $2 4)2 50; sweet potatoes, .; Der pound, $3.50 per hamper. UNIONS Oregon. $1.50 per sack; Cal'- fornia brown. $1.30t 1.75 per sack; Cali fornia yellow, $1 50 per sack. Staple Groceries. Local Jobbing quotations: SUGAR Sack basis: Cane granulated. 9c per pound,: beet. 8.80c per hundred. NUTS Walnuts 2228c: Braxil nuts. S5c; Filberts. 21425c: almonds. 2630c; peanuts. 914c per pound; cocoanuts. $2 per doien: pecans. 32e35c: chestnuts, 25 '4 35c pound. RICE Blue Rose, 94c per pound: Ja pan utyle. 7ic per pound. BEANS Small white. 6c: large white, 6c: pink, 7c; lima, 10c; bayous, 124c; red. 7c per pound. COFFEE Roasted, bulk, drums, a4.'!6c per pound. SALT Granulated, bales. 3.504.23; half ground, ton. 50s. $19.75: 100s. 18.25; lump rock, $26.50 ' Provl.inlii. HAMS All sixes. 2732c; skinned. 25 31c: picnics. 20c. BACON Fancy. 406 47c; choice. 3032c: standard. 25027c LARP Pure, tierces. 27c pound; com pound, tierces, 14c. DRY SALT Backs. 2124c; plates. 20c. Hides. Pelts. Etc. HIDES Salt hides, all weights. 6c per pound: green hides, all weights, 5c; salt bulls, all weights, 5c: green bulls. 4c; calf skins, green or salt, 8r, kip skins, green or eelt, 7c; dry hides. 12c: dry' salt hides. 9c; dry calf. 15c. Above prices for coun try hides and skins. Prices for city skins and hides follow: Calf skins. 10c per pound; kip skins. 8c: city packer hides, green. 6c. PELTS Salt pelts, full .wool. 25 8 40c each: dry long wool pelts, fine. 7c pound: dry long wool pelts, medium. 6c; dry long wool pelts, coarse. 4c. TALLOW No. L 5c: No. 2. 4c pound. CASCARA BARK 1920 peel. Sc pound. WOOL AND MOHAIR Nominal. HOPS 1920 crop, choice. 24 25c pound. Northern Pac Ok Prd Rfs.- Pan-Atn Petrol Pennsylvania. . Pitts A W Va Ray oCn Cop Heading Kep lr steel Royal D N Y Shat Arix Cop Shell TV & Td Sin Oil & Rfg 12.900 Southern Pacif 4,i00 Southern Rwy S O N ' J Pfd Studebak Corp Texas company Texas .4 Pacifi Tobacco Prdts 1.400 3.300 3.700 11.900 100 3.900 1.900 400 9.3(H) 4.9O0 5.700 9.600 Transconti Oil 18.200 Union Pacific U s Food Pdts 0 S Ind Alchl U S Rtl Stores 0 S Rubber. . . U S Steel 0 S Steel Pfd Utah Copper. . Western Union West Electric Willys - Overld 1.200 9.900 5,900 4.200 2, SIM) 19.000 1 ,900 2.500 100 200 5.5O0 High. 4644 28 125 S4 504 43 H 83 MS 93 79 99 4 684 38 8 84 4 71 90 364 58 4 134 28 US 404 71 61 -,i 30 09 4 27 -s 22 4 Oil?, 90 n 144 121. 1" 76 89 3114 .".:; r-. 16 53 4 20V. 20 1024 152 184 154 32 20 4 11 73 4 214 101 84 34 74'. 414 31 124 84 4 66 69 64 44'. 24 4 91) 4 234 108 51 4 44 4 18 4 o3 4 12 1214 25 4 704 57 4 68 4 S.1 109 4 34 87 4 45 9 Low. 45 48 42 84 38 1)2 7S4 98 67 0 38 83 (16 884 36 57 4 13 28. 117 38 4 68 4 60 4 29 69 27 21 694 86 4 23 1 1214 154 76 4 88 4 SO 54 15 204 20 4 1024 1544 13 15 314 19 10 73 4 204 1004 83 "2 41 4 30 12 83 65 4 60 64 43 24 4 9!) 22 4 106 50 4 43 1S4 54 10 121 23 09 554 67 82 lo:l 534 87-4 8 Last sale 45 28 125 484 43 4 84 4 38 93 78 4 99 67 9 38 83 4 67 4 884 36'. 57 4 1.1 28 11 1 40 70 61 2'.' 69 4 27 4 21 69 S7 23 144 121 15 74 88 4 36 54 15 20 20 102 4 154 4 184 1 34 19 11 73 4 20 100' . 83 ':, 3 414 .; 1 12 83 4 65 ! 08 4 64 43 J SO 23 108 50 4 43 4 18! 54 12 121 24 69 56 :h 67 ?i 82 109 54 874 45 4 84 U S Lib S4s. do 1st to da 2d 4s do let 4s. do 2d 4 4s. . do 3d 4 4s.. do 4th 4s. Victory 3s . do 4s ... U S 2s cpn BONDS. . ,92.44Atch gen 4s 78 . '87.00! D & R G con 4s 65 . .S0.9OIN Y C deb 6s.. 91 . .87.40'N P 4s 77 ,.87.16iN P 3s 56 ..90.00 Pac 1 Sc 1 a ..87.50, Pa con 4 4s . .97.00IS P cv 5s. . . ..96.98.So Ry 5s... tlOO U P 4 U S cv 4s cpn.tloo it S Steel 5s.. A T & T cv 6s.. 964) Bid. tottered .'80 . 91 . 88 . 87 . 82 4 93 Mining Stocks at Boston. BOSTON. Jan. 8. Closing quotations: Allouez Aria Com Calu & Ariz. . Calu & Hecla. Cop Range . . . East Butte . . Franklin Isle Royalle . . Lake Copper. . Mohawk North Butte . . 214 Old Dom 8 4 Osceola 48 1 Quincy 250 Superior 31 4!Sup & Boston. 9 4 Shannon . 2'Utah Con 22 I Winona 2 Wolverine 45 iGreene Can . U4I 20 27 40 34 1 1 4 50 11 22 4 Money. Silver, Etc. NEW TORK. Jan. 8. Prime mercantile paper, unchanged. Liar s.lvcr, domestic unchanged. for eign 5. Mexican dollars. 50 cents. LONDON. Jan. 8 Bar silver. 40"id per ounce. Money and discount unchanged. RATIO OF RESERVES IS INCREASED Gain of One Per Cent During Week Re ported by Federal Board. WASHINGTON. Jan. 8 Resources and liabilities of the 12 federal reserve banks the close of business Fmday. January were reported tonight by the federal reserve board aa lol.owa: ' Kesources Gold and gold certificates. .$ 250,133.000 Gold settlement fund federal reserve board 40...H44 000 Gold with foreign agencies. . 3.300.000 Total gold held by Goid with federal 1 agents Gold redemption fund.. banks.. $ 659,079,009 .$1,264,762,000 156.441.01)0 Total gold reserves $2.ond.2S2.ooo Legal tender note, silver, etc. 196.56:1. 000 Belgium, francs 0633 liulgaria. leva 0113 Czecho-Slovakia. kronen 0118 Denmark, kroner 1705 Bnirland. pound sterling 3.65-V) Finland, flnmark 0328 France, francs 0604 Germany, marks 0143 Greece, drachmas i753 Holland, guilders 3203 Hungary, kronen 002O Italy, lire 0333 Jugo-Slavia. kronen 0071 Norway, kroner '.lflSfl Portugal, escudos 1190 Roumanla. lei 0136 Serbia, dlnara 0278 Spain, pesetas 1338 Sweden, kroner 2130 Switzerland, francs .' . . . .1555 China Hongkong, local currency 5R00 Shanghai, taels , .7R50 Japan, yen .! .4865 NEW TORK. Jan. 8. Exchange steady. sterling unchanged; francs, demand. 3.94 cables. 596; Belgian francs, demand. 8.25 cables, 6.27: guilders, lire and marks. changed: Greece, demand, 7.54; Montreal 144 per cent discount. Foreign Bonds. roiiowlng foreign bond quotations are furnished by the Overbeck & Cooke Co. of Portland: Bid. Ask. Russian 54s, 1921 11 1.1 Russian 3 45, 1926 54 74 Russian 64s. 1919 12 15 Currency 47 52 French 5s, 1931 484 504 French 4s. 1917 494 52 French 5. 1920 574 59 Italian 5s, 1918 26 27 British 3s, M)22 350 355 British ta, 1927 343 55 British us. 1929 336 48 British vky 4s ,26S 277 Frltish ref. 4s 245 57 Belgium rest. 5s 56 4 SB Belgium prem. 5a 60" G3 German W. L. 5a 104 12. Berlin 4a 12 13 Hamburg 4s 12 14 Hamburg 44s 13 14 Lelpsig 4 4 13 15 Lcip.-lg 5a 13 15 Munich 4s JR 13 Munich 3e 14 17 Frankfort 4s 14 16 Jap 4s 58 viS4 Jap Irn 4 4s 76 764 Jap 2d 44e 754 764 Paris 6s 94 95 4 U. K. 5 4 s. 1921 R7 4 98 U. K. 54s. 1922 94 4 95 V. K. 5 4. 1929 88 89 U. K. 5 4s. 1937 83 86 Liberty Bond Yields. SAN FRANCISCO. Jan. 8. The weekly liberty bond table, showing the market prices and approximate yields of the va rious Issues' by the federal reserve bank at the close of business today follows First 34s, market price 924. yield 3.97 per cent: first 4s 81. 4.81 per cent: second 4s 874. 5.14 per cent; first 4s 80, 5.04 P'-T cent second 4lis 8i7t. ft,2a per cent third 44s 90, 5.83 per cent: fourth 44s 874. 5.37 per cent: victorv 4s 96". 6.28 per cent; victory, ons, doss, o.so per cent. Swift 4; Co. Storks. Closing pries for Swift Co stocks at Chicago were reported by the Overbeck & Cooke Co.. of Portland as follows. Swift Co 104 swirt international 29 Llhby, McNeil & Llbby 12 national Learner 1 Decrease in Excess Reserve. NEW YORK. Jan. 8. The actual con dltion of clearing house banks and trust companies for the week shows that they hold $9,131,330 reserve in excess of legal requirements. This Is a decrease of $1,912,350 from last wek. Chh-ago Livestock Market. CTTXCAOO. Jan. 9 Cattle Receipts. 1000 head: compared with week ago. beef teerr above $10.50 about steady; others, 3c to 50c higher: butcher cows, heifers and bologna bulls. 25c to 50c lower; can- rs. 25c lower: llpht veal calves, 23c to e lewer. other calves unevenly steadv to Higher: stoekers and some grades feeder r 25c to aO nlgher; cheap light stoek ers advanced most. Hos Receipts. 8000 head; active. 10c to 3c hiirher than yesterday's average; butch ers uo most: top. $10.1., for 160 to 170- und offerings. buUf $9,501? 9.90; pigs, e to 25c higher: bulk desirable, 90 to IfO-pound pigs. $10fS 10.15. sheep Receipts. 3000 head; comrared with week ago. fat lambs and yearlings. '1.50 higher: mature sheep, 75ciS$l higher; feeder lambs. 25c to 50c higher. Omaha Livestock Market, OMAHA. Jan. 8 Hogs Receipts. 630(1 head: active, 1015c higher; bulk of sales. 9.20i(r9.50: top. $9.35. Cattle Receipts. 200 head; market com pared with week am. beef steers 2S If 50c ower. ton steers. $in..rf; cows and heifers. mostly 50c lower: spots. 75c lower: bulls. steady: Blockers and feeders, fully 50c higher. Sheep Receipts. ..00 head; market com pared with week ago. lamhs and yearlings c)$1 higher: sheep, fully 50c higher: feeding lambs. 2S30c higher. Total reserves 276.54S.0O0 by Bills discounted secured U S. govt, obligations. .. .11. 104. 556. 000 Bills discounted, ail others-.. 1.502.81:1. ooo Bills bought in open market. 234.759.000 Total bills on U. S. govt, bonds.... U. S. victory notes. . U. S. certificates of euness hand $1 indebt- 842.108.000 26.102.OO0 19.000 Total earning- assets Oils. LINSEED OIL Raw. in barrels. $101; drums. $1.08: cases. $1 16 Boiled, in bar rels. $1.03; drums. $1.10: cases. $1.18. TURPENTINE In tanks. $1.21: cases. $1.36. COAL OIL. Tank wagons and Iron bar rels. 17c: cases, 3037c. FUEL OIL Bulk, $2.35 per barrel. GASOLINE Tank wagons and Iron bar rels, 29c; cases 414c Dried Fruit at New York. NEW YORK. Jan. 8. Evaporated ap ples dull; prunes quiet; peaches dull. Bank premises $ Uncollected items and other deductions from gross de posits Five per cent redemption fund against F. R. bank notes All other resources . . .$3,130,014,000 17.359.000 12 389.000 4.998.000 Total resources 16.1S5, 719.000 Liabilities Capital paid In 1 Surplus Government deposits Due to members' reserve ac count . Deferred availability items.. Other deposits. Including for eign govt, credits 99. SOS. 000 202, 036.000 25,592.000 1.795.343.000 532.556.000 25.15S.000 Total gross deposits $2,378,649,000 Federal reserve notes in Actual Circulation $3,270,023,000 Federal reserve bank notes in circulation, net liability... 215,552,004 Kansas City livestock Market. KANSAS CITY. 'Jan. 8. Cattle Re irts. 175 head. For week: Better grade ef steers, steady: others mostly 50c higher: she stock and cutters. -25i& 75c richer: canners. steady: bulls, mostly 50c higher: feeders, strong to 25c higher: chers. mostly 50c higher; calves. 50cfi$1 higher. Sheep No receipts. For week: Sheep mostly 25c higher; lambs and yearlings, steady. 1' ' Seattle Livestock Market. SEATTLE. Jan. 8. Hogs Receipts. 140 he.ii market firm. Prime. $1212.50: sn.o.-th heavies, $11T12; rough heavies, 199.50; pigs. 9fl-11. Cattle Receipts, rone. Market steady. Prime steers. $8.75-9.25; medium to choice, $7?R.25; common to good. $6!f?7: cowe and heifers. $7457.50; medium to choice. $5.504r8.50; common to good, $4 5.30: bulls. $46: calves. $713. CHICAGO. Jan. 8. A late bulge on mod erate buying and a lack of offerings gave wheat a good undertone today and the market closed firm with prices showing a net gain of 14 to 2c over Friday's close, with March $1.73 to $1.74 and Max $1.04 to $1,064. Corn was unchanged to 4d higher; oats unchanged to 4c down, while provisions were lower for pork a:.d lard, but firmer for ribs. Wheat developed a strong undertone and advanced sharply after a weak start, due to persistent buying to remove hedges against export sales. The British commis sion was not in the market, but the conti nent was a good buyer and sales of 750,000 bushels were reported to Germany and Italy. A small cargo w-as reported sold late yesterday to Scandinavia, senti-xieni was a little more friendly to the buying side as a result of the export business. Cuarse grains were slightly easier earl ier, but rallied with wheat. Trade w-as light. Minneapolis reported 25.000 bushels of corn sold to Baltimore, the first busi ness from that market so far. Some hedg ing pressure was in evidence. ..it- were dull while provisions averaged higher on scattered buying and light offerings. The Chicago market letter received yes terday by Overbeck & Cooke company of Portland said. Wheat Although trade In the aggregate was small, there was good buying through out the session by seaboard interests, which absorbed the surplus and caused an advance of 3 cents from the low point, most of which was maintained at the close Exoort sales were estimated at fully 1. 000.000 bushels for the day and messages from the east this morning placed yesterday's sales at 2,000.000 bushels, or double the amount previously reported. The milling demand so far this season has been so small that exporters have found little difficulty In filling orders, but It must be realized that the mills In this countpy must sooner or later enter the market and there are distinct Indica tions right now that a good demand from this quarter Is getting under way. The movement in the southwest has been quite liberal, but it is the consensus of opinion that recelDts will soon diminish and that competition of domestic millers w r.r.i.n hovers will be at the expense terminal stocks, which In turn will be reflected In higher prices. . Corn Prominent elevator Interests Were again on the buying side of the market. u.hich hud . strong tone despite the smailness of the trade and an Inclination on the part of the local element to operate on the short side. The feature of the news was the renewed talk of an export demand, with the possibility that busi ness might be done In sufficient propor tions to become a price-making factor. It Is understood that thlx made possible by the favorable comparison with Argen tine prices and by the fact that there Is plenty of ocean freight room available at low figures. Developments appear to be shaping more in favor of an advancing market. . ,, ,. , Oats Trade was exceedingly limited and practically featurelers. Cash prices remained without Important chanaes. Country offerings to arrive were light. On the surface there appears nothing to give this article independent strength but it is highly probably that an improved cash demand will soon develop. Rye it was a dull but strong market. -.i.v. .hnri covering Induced by the trnc-th in other grains and ports from the seaboard that port business is being day to day. Provisions Rather strong ea-ly. due fh. llo-ht hog movement and higher prices . .,- Realizing made its appea: nce at" the advance in sufficient volume to satisfy the demand. Leading futures ranged as follows. W II r Open High. $ 1.72 $ 174 $ 1.654 1.674 CORN. 74 4 75 75 76 OATS. 484 484 47 484 Oregon Municipals Port of Astoria Due July 1. 1930 At 98.23, to yield 6 To City of Enterprise Due February 1, 1950 At 100, to yield 6 City of Marshfield Due August 1. 1930 At 100, to yield 6 Ask for details. Wire or phone ""collect." Freeman. arvii i n OROUNO FLOOR tAMP LUHBUMBMSJ sfUILBIN Fifth and stark CO. wT B70 Hi The Board of Directors of a going Oregon Corporation has decided to syndicate a block of stock, the returns on which will be used to increase the production of their factory. There will be no commissions paid on the sale of this stock. Every dollar will go to the expansion. Money paid in will be put in trust until full syndicate is completed. Are you willing to come in on this syndi cate and insure the greater success of an Oregon industry? A full investigation of the books and the Company may be had upon application. Subscriptions received $250.00 and up. Address BC 289, Oregonian. $55: milled fcod, $"9; bran, $39. Hay Alfalfa, f 27 ton; double com pressed alfalfa, $33; double compressed timothy, $39; eastern Washington mixtd, $35. Gr&ln at San FrancUco. SAN FRANCISCO, Cal., Jan. 8. Grain Wh'-at, $2.75t53; barley, spot feed, $1.50 1.00; shipping, $1.75 1.90; oats, red feed, $1.50 73; corn, white Egyptian, $2.752.S5; red milo, $22.25. Hay Fancy wheat, -i : tame oat. th i i!y .V' i . u oai. Daricy, ;i. ;t of Yielding 8 Per Cent Province of Saskatchewan Bonds by the re a good ex- consumated from March May . . May July May July Low. Close 1.714 ! 1.784 1.044 1604 744 T4 4 754 4 484 4 47 4 48 FORK. 24.30 24.25 24.30 24.2S LARD, 13.30 13.30 13.12 14.00 14 05 13.90 RIBS. iit.es 12.80 12.05 24.30 24.23 13.15 13.90 11.92 12.07 No. No. March, 444e; ; tlax, Jan. May Jan. May Jan. Cash prices wcie u Corn No. 3 miied, 08 4 0 '14: yellow, 7B4c. ..,.. Oats AO. . wmic, tihv) white, 45f 44- Rye not quoted. Barley 60 & 88c. Timothy seed J5.50?. . Clover seed 16.00(& J3.O0. Pork nominal, lird 513.15. Riba 11.5 12.00. Minneapolis Grain Market. MINNEAPOLIS, Jan, 8- Wheat, $1.6U. May, $1.G0; oata, May, rve. May. I.4d; uariey. oil iot No. 1, $2.00.2.01. Winnipeg Grain Market. WINNIPEG, Jan. 8. Wheat, May, $1.U2H ; oata, May, 57Hc; barley. May, 88c; flax. May, J.rrye, iay, Duluth Limeed Market. DULUTH, Jan. 8. Linaeed, on track and to arrive, $2.03 Primary Receipts. CHICAGO, Jan. 8. Wheat, 1.105.000 buahela va. 682,000 buaheis; corn. l,16U,ouu busheU vs. 540.000 buaheis; oats, 876,000 bushels vs. 774,000 bushels. Shipments Wheat. 6-i3.ouu ousneis vs. 618. 01)0 bushels; corn. 500.000 touaftels vs. 4iH),000 bushels; oats, 364, uuo busbeis vs. 500,000 bushels. Clearances Wheat. 4Ui,uuu nusneis; corn, yu.uou ousneis; oata, nuue, 12&.000 bushels; Hour, aD.uuu uarreis. Seattle Grain Market. SEATTLE. Jan. 8. Wheat Hard white, soft white and white club i.6t); hard red winter, soft red winter, northern sprint and eastern red Walla, $1.57; Big Be nd bl uestem, l bi. City delivery Feed scratcn reed, soi ton. feed wheat, all grain cnop, n; oats, $49; sprouting oats, o; rouea oats, $31; whole corn, $47; cracked corn, $4 ; rolled barley, $50; clipped barley. 15; alfalfa. $1821. SAN FKANC18CO PKOiH XJB MAEKE1 Prices Current on Vegetables, Fretth Fruits, Etc.. at Bay City. SAN FRANCISCO. Jan. 8. Dairy pro duce exchange closed. Vegetabh-s Eggplant, southern, 9(S12c; summer squash, $2.20: potatoes, gtreet prices, rivers, I1.S903; Saunas, $U.25; aweets $4.60jjr,4.75: onions. Australian, 90c(S$l; green, VJU29J?1.MU lima beans, 10 : 1 " : bell peppers, southern, 9 12 V4c ; chile, 7u9c; tomatoes, 60c&$l. tancy, $1.25; cucumbers, hothouse. $1i&1.2Cj doz.; celery, $1.50 42.50; cauliflower, lM)c 0 $1 doz.; cabbage, 1c )b. ; turnips and carrots, $1 44 1.2-5 sack ; beets, $1.50; parsnips. $1.75 2; peas. 104yl." rhujbarb, $2.25ij)2.75; lettuce, $1.75 4 2.20 ; artichokes, TOcy $1,25 dozen; spinach, $11-50 crate. Poultry Hens. 37S40c; strictly young roosters, 30&33c, old 21&22c; fryers, 40 45c ; broilers, 45 50c ; ducks, 28 -j 32c squabs, 70 75c; Belgian hares, live, 22 24c ; turkey, dressed, 52 560, Fruit Navel oranges, $3.5094.50; lem ons, $2(92.50; lemoncttes, $1.504j2; grape -fruit, new crop, $2.50 & 3, A rizona $3.50 4.25; limes, $1.25 4f 1.75 naif orange box, mandarines and tangerines, $23; ap ples, Newiowns, $1.00(12 25; pears. Winter Nellis. $2&4; bananas, 8410c. Receipts Flour, 1094 quarters; wheat, 623 centals; barley, 68.483 ct r.tals; oata. 2404 centals; beans, 1112 sacks; com, 25 ; centals; potatoes. 10,077 -sacks ; onions, i 2760 tacks ; lemons and oranges, 600 boxes; livestock. 00 head: hides, 277 rolls. ! Good Gains in Coffee Market. NEW YORK, Jan. 8. A considerably r better tone was reported in the market for, coffee futures here today, with Indications t of a reviving commisison licuse interest, i owing to increasing optimism over gen eral trade prospects and money market ; conditions. 1 Reports of an improvement in t Rio exchange rates and a firmer. cost and freight market were contributing factors. I After opening at an advance of 5 to 11 I points, active months sold about 13 to 22 poiBLs net higher, with -May touching 6.09c, or 39 points above the recent low record. That delivery closed at 6.97c, with the i general market showing net gains of 1$ to 22 points. Closing bids: January, S.v7ft, I March. 6.57c; May, 6.1t7c; Jury, 7.37c; September, 7.6So; October, 7.80c ; Decem ber, 8c. Spot coffee, iinmer. Rio is, u&'o-frc; Santos 4s, 89frc. Seattle Dairy Produce. SEATTLE. Jan. 8. Egg Select local ranch, white shells, 55c; pullets, 48c. Butter City creamery, in cubes, 49i; Denomination 100 ($486.66) Due July 1, 1923 Principal and Interest Payable in Gold at New York. Assessed valuation for taxation over One Billion Dollars. Net debt but Sixteen Million. Area 251,700 sq. mi., or larger than any state in Union, with excep tion of Texas. Population eight hundred thousand. Write or Call for Descriptive Circular CLARK. KENDAH& CO. INC. flswtiiMiroini. bricks or prints, 50c; seconds, in cubes, 38c; bricks, 40c; country creamery, extra I cost to jobbers In cubes. 43c; storage, rinmin.il. OVERBECK & COOKE CO. Brokers, Storks, Bonds, Cotton, Grain. Etc. 216-217 BOARD OK TRADE BLDG. Walla, Walla, Ua-h. Portland, Or. Pendleton, Or. MEMBERS CHICAGO BOARD OF TltADK. CorreepondentN of Lognn A Bryan, Chicago and New York. MEMBERS New York Stock Eit-ljunge. Chicago Stock Exchange. Boston to'k Exchange. Chicago Board of Trade. ew York Cotton Exchange. New Orleans Cotton Kchange. New Y'ork Produce Exchange. Winnipeg Grain Exrhangr. Liverpool Cotton AKsociutlnn. kVOID WINTER HERE Travel To SUMMER LANDS STEAMSHIP LINES "s" r smi m 3 Jan. 8. Turpentine J 21 barrels; stock. Naval Store!. SAVANNAH. Ga. Quift. 92-ic: no barrels: shipments, 16 035 barrels. Rosin Quiet; no sales. Receipts. 109 barrels; shipments, 101 barrels ; stock, 84,955 barrels. Quote : B, D, E, F, G, H, I, M. N. WO. WW. $11.00. Eastern Dairy Produce. NEW TORK. Jan. 8. Butter, weak ; creamery higher than extras, 540o4c; extra. 0.3 V c ; firsts, 449'52c. Eggs firm : fresh gathered extra firsts, 69c: firsts. 66U06SC Cheese firm; state whole milk flats held specials, early made. :'T 28Vc ; do fall made. 25 6 26 &c ; others unchanged. CHICAGO, Jan. 8. Butter Lower; creamery extras. 0c; standards. 47c. Eggs lower; receipts, 2666 cases; firsts. 64u.fcf6r-c: ordinary firsts, 566 61c; at mark, cases Included. 56 62c; refrigerator Oregon-Pacific Company General Agents for Holland-American Line and TOO KEEN KAMA Provides regular monthly sailings for United Kingdom and Continental European ports, Japan, China and West Coast South America. GENERAL FREIGHT AND PASSENGER OFFICES 203 Wilcox Bldg. Main 4565 Portland, Oregon SUMMER is In full bloom below the Equator ! Rio Montevideo Buenos Aires are glowing now with gay, colorful life. Enchanting, natural beauties interesting, charming peoples. Why not leave the cold, inclement season? Change Winter to Summer. The Munson Line takes you there quickly, comfortably, at mod erate cost. Splendid steamers of the U.S. Shipping Board. Frequent Sailings. Full particulars of any Travel Agency or MUNSON STEAMSHIP LINES 82-92 Beaver Street, New York PHILADELPHIA CHICAGO ST. LOUIS BALTIMORE MOBILE Bottom of the Decline If yon have been waiting for the bottom of the swing downward of stock market prices before mak ing purchases, our analysis of prevailing market con ditions, just published, car ries information that un doubtedly will prove of interest All basic influences have been carefully weighed by us and the constructive factors seem to outweigh the unfavorable to such extent as to indicate a sharp recovery that may get under way very shortly. Write Dept. PO-Mcopy of Market Analysis together with Thrift Savings In vestment booklet, -explaining our partial payment terms in detail Sent free on request. CnnRLE5 RCLflRKSONfi Uf 66 Broadway. - New York. TCUPHOXES' RECTOR. 4Si -4 AUSTRALIA Honolulu, iia. New Zealand. The Palatial Iuftenger Steamers B. M. S. "Niagara" K. M. S. "MAKLRA" 20,000 T.n- i:;.."U0 Tons Sail from Vancouver, B. C. For rate and sailing apply Can. Far. Rail aavav. ."i.'i Third St.. Portland, or Canadian - firsts, 5657c; refrigerator extras, o7.i Aiutraiatifln Ko al Mail Une, 440 fca rueur S8a 1 6U. Vancouver. B. C. Waaaamaawaaammmmwaia jPE?irS TIWLCT i Dependable Freight and Passenger Service California Service ReRnlar Freight and Paaaeus;cr Service to COOS BAY EUREKA A"D 9AM FRANCISCO Sanins; From Portland. 0 P. M. S. S. "CLRAC'AO," Jan. 11 and 33. mnnKtius at San Franclaco lib Stealers lor Los Anarelea and San Uiruu d..ii Frela-hl and Paena:er Service to Mexico. TRANS-PACIFIC SERVICE to ail Board A-l Steel American Vessels. BOa v.llina From Portland o paWLEI .Jan. 13 S S. COAXET ... Si S MONTAGLL. 101 THIRD ST. Central America and Alaska. 1NXEKCOASTAL SERVICE. Boston and Philadelphia. Newsco Llna. 8800-Ton Steel American Vessels. SaUins; From Portland 5. S YAL.ZA Jan. 10 S. S. WEST ISLETA Jan. 25 S. E. ARTIGAS Feb. 5 .Feb. .Mar. For Further Information Apply to PHONE MAIN 8281. What about the Motor Industry? Has it reached the sat uration point ? Wilt motor stock come back ? What is the present status of different companies ? All these questions are cov ered in detail in our current Market Review, which w 11 be mailed to anyone trt upon request. Atk for PS-M E. M. Fulier & Co. Mu, Dsn oi ensohdated Moon Kxabanr ot S. V SO Broad St., New York. Nw York ftswtrk QmluJ CatcMo Booa U r fr -flj- irtt PAYMENTS Orf tseK month buys nv Stock . A i n. I ri 'irvidarvu. Write far selected Iit and booklet -FREE . GirrHRJK &' Mc Govern LIBERTY AND VICTORY BONDS Headquarters for buying and sell ing all Issues. Large or small lota. HERRIN & RHODES, Inc. Established 1S96. Main 283-284. 201-2-:!-! Railna)' Exchnna-e Rldsj. Phone Your Want Ads to THE OREGONIAN Main 7070 Automatic 560-93