The Sunday Oregonian. (Portland, Ore.) 1881-current, January 16, 1921, Section One, Page 19, Image 19

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    THE SUNDAY OREGOMAX, PORTLAND, JANUARY 1G, 1921
BAG TRADING
15 MORE ACTIVE
Market Firmer With Advance
in Exchange.
OUTPUT MAY BE CURTAILED
Wlio.U I-'ive Cents Lower on Local
.Board Following Drop in Cast.
Buying Is Halted.
There has been more Interest In the
train bug market of late and transactions
have been on a broader scale. Calcutta's
were quoted yesterday by local dealers at
S'JS'-ic, buyers July. The market was
firmer because of the rise in exchange
and the prospects of the jute mills going
or. a four-day -a-week hauls.
Wheat dropped with the slump at
Chicago and country buying, which was
active during the week, slowed down,
isonie of the larger firms were entirely
out of the market. At the Merchants'
Exchange, lard white and club bids de
clined 6 cents to $1.65 and $1.62 respec
tively. Other grades were 3 to A cents
iower on bid.
Coarse grains, were also weak. Corn
offers were $ 1.50 lower than Friday and
white oats were down 50 cents. Barley
bids were unchanged, but Monday's mar-1
ket may reflect the sharp fall in prices ;
during the afternoon at San Francisco.
Advices coming by way of Chicago
estimated the export sales of wheat for
the day at 2.000.000 bushels, of which
Germany was credited with taking 400.000
bus Mr Is.
Argentine- weather was fine, according
to a Hucnos Ayres cable, which said that
receipts continue light owing to damp
condition of the grain. Threshing has
been delayed and the interior movement
is moderate. It is now rumored that the
super-tax will be fixed at 2 pesos per
1"0 kilos, equal at the present rate of
change to IS cents per bushel.
Terminal receipts, in cars, were reported
by the Merchants' Kxchange as follows:
Wht. Brly. Fir. Oats. Hay.
Ai rival of poultry and dressed meats
were light and prices were unchanged.
NO TRADING AT LOCAL STOCK YARDS
Only Arrivals Are Direct shipment to
Packers.
Stockyard trading for the week came to
close Friday. Six cars of hogs contain
ing 7-13 head, came In yesterday, but they
were a direct shipment to packers. The
tone of the market at the close was fairly
steady.
The following prices are current at the
local yards:
Cattle
Chatce steers
Good to choice steers .
Medium to choice steers
Fair to good steers
Common lo good steers
Choice cos and beuers
Good to choice cows, heifers. .
Medium to good cows, heiters.
Fair to medium cows .heifers.
Common to lair cow a, heifers.
dinners
Du:is
Choice dairy calves
Prime light calves
Heavy calves
Best feeders
Fair to good feeders
Hogs
Prime mixed ..
Smooth neavy
Koujjh heavy
Fat pigs
Feeder pigs ..
Sheep
East-of-moun tain lambs .
Valley Iambs
Heavy lambs, b) lbs. and up
Feeder lambs
Cull lanvbs ,
Light yearlings ,
Heavy yearlings
Wethers ..;
Ewes
Prices.
..$ 8.50 j 25
. . b.OO'B' 8.5
. . 7.5ir
. . 0 50'tf 7.50
. . a.5 6.M
. . 7.000 7 0
, . 6 I'.V.r 7. (Ml
5 5tKO- tt.OO
S.iMlv 5.0
2.5i4( a. 50
O.IK) 4)) 6.00
J2.MMu Bi.00
lO.no "a 12.Mt
U.OII 7 50
0.7.1 7
5.75(0 6.
11.50ft 12.00
ll.WI'flll.O'l
7.50U 10.00
IO.'mku 1 1.4)0
fc.OOU 11.06
OWa 10.50
y.'HHa- 9.50
7.00 U 8.50
6.00 7 00
fi.OOtg 6.00
7.iM) 8.00
6 00'g. 7.00
tj.H 6.50
l.Wtf 4.00
GDNHDERCE GROWS !
m eusraoip
Week's Trade Developments
Held Encouraging.
MONEY RATES ON DECLINE
Bank Clearings.
Bank clearings of the northwestern
cities yesterday were as follows:
Clearings. Balances.
Portland $4.K4T.ii "l.!tMi
Seattle 4.4'VJ(M 1.31M.776
Tacoma .IKi.-Vil HM.ntn
Spokane l.b3K.8Vi 7.J0.M.4
Clearings of Portland, tiealtie and Ta
coma for the past week and correspond
ing week tn former years were:
Portland S'afd'y ! i 5 1 15
Year ai!o J5 3 1 5
Total this week.. 3!t 2 14 2 64
Year ko 1"" 7 12 45
Season to date. . .!l!i2 175 4S: 2117 1S24
Year aco 537it 131 2432 3H3- W77
THcntna Kriday.. 11 .. fl 1 5
Vwir uro IK .. 7 .. 3
Sanson to date...Si:i' 4(1 5!I3 77 KM
Y'-ar uko 42iil 67 1G57 182 b'J-
Ba(tle Friday... 17 2 3 1
Year ago 4 4 2 2
6-s..n to date... 3154 174 21.1 2f2 1031
Year aso 4H'J IDS 4Ut 4113 N1
Astoria Kriday
Year aizo 16 1
Season to date... Hen .. .. IS 2
Year ago 722 2 . . (3 So
1021.,
1 !".(..
WIS. .
mis. .
1!H7. .
1!1. .
11.. .
11114..
li:i. .
1U12. .
Portland.
. . 3l.4MU..VI
. . 38.1 54, 633
. . 27.3.17..V.5
. . 111,3(15.32!)
. . HS97.K71
. . '.I.B57.7S3
. . KM'.(it;.2!l7
. . II. 123.mil
. . 10.2114. 072
, . S,15X..V3
Seattle.
$31. 1'l 8,721
42.S7.lls."i
4I,ii4n.3HS
2H.2Hs.iU0
HI.S!ll.5(ll
12.4.-.3,4('.l
11.11(1.077
lo.siKi.H3
l.:i.MI.277
!l.4.".!l,231
Tacoma.
4 O'.H.O.Vi
5.575.2.V1
5.DH2.5I5
' 4.004.771
2Gifl.44S
1. M1.20S
1.745.4::-.
2. (Si2. 2H1
SMtS.fr
4,0A.&70
Jan. Feb.
$ 1 (15 S 1 115
l.iio 1 (in
1 t2 1.112
1.57 1.6"
1 00 l.0
1.55 1.55
34.50 35.00
S3. SO 33.50
35.00 35 00
34(10 34.00
34.00 34.00
32.00 32.30
LOCAL AITLES HOLDING STEADY
Orrgon- Fruit at New York Auction Bar
reled Market Weaker.
T!ie local apple market was steady at
the close of the week with a fair demand.
Ext i n fancy fruit of the better grades was
available at 2.75fi :.25 and large sizes
occasionally brought J3.30.
Conditions wire unchanged In the In
terior, where sales were few In number.
Taklma is still moving medium to large
extra fancy Win. saps at $2 and Wenat
cee r ports sales of fancy small to large
Bark Bens at $1.25.
At the New York auction Oregon apples
old as follows: fcoO boxes Xewtowns,
fancy larse. J2.7r.if, 3.5.7: C grade, large,
$2.2(1 ft 2.25; small lot, t2.50; medium, l.U5
ft l.iKl: 3S5 boxes Arkansas Blacks, extra
fancy, large, $2.; small to medium,
$2.35; fancy, all sizes, $2.25fr2.40; C grade,
larse, $2.25; small to medium, $1.85.
In the eastern barreled apple trade
r.aidwins declined moderately at western
New York shipping pionts. Slock from
cold storage closed 10i'15c lower at $41
4 25 per barrel f. o. b., compared with
$" 25 ft 7.50 a year ago. Common storage
rald'vins lost 10:u25c, reaching $3.05 fii 3.75.
Hand-picked orchard run stock, cull ojt,
held at $1.50 bulk per 100 pounds. Bald
w.os, Yorks and Greenings ranged about
2'.c lower in leading markets, jobbing
roestly at $t'd4.75 per barrel.
Shipments were S(5 cars of barreled
apn'es, compared with 5S2 the previous
K.'i' and with 2S5 during the correspond
ing week last season. The movement of
b xed apples was 354 cars, compared with
'-Mt the preceding week and with CT3
J'lr ago.
FA III I-KICKS BROltillT AT SALE
Offering of 3.400,000 rounds of Govern
inrnt Wool Disponed Of.
At the last government wool actition
hold at Boston, the entire offering of
3 4iill.li.il) pounds was disposed of. The
prices received were considered fair. Mnt
of the South American wools brought
prices close to those for which they couid
be imported at the present time. As at
the October and November sales, the car
pot mills were heavy buyers.
. Oklahoma It is reported that a con
siderable portion of the wool produced in
Oklahoma has been consigned to com
mission firms In Chicago and Kansas
City. The 11120 wool clip of several coun
ties remains in the hands of the producers.
Alabama It is reported that a large
part of the 1H20 wool clip remains In the
hands of the producers. Individual grow
ers show an inclination to trade if offer
ing prices are satisfactory.
Massachusetts A large amount of the
12'l wool clip remains in the hands of
the producers. A considerable part of
the wools have been graded and are being
held for a more favorable market.
Minnesota Wool producers In sections
northern Minnesota hae pooled the
l!i2'l clip and shipped their holdings to the
North Dakota slate pool at Fargo. No
ales have been reported for some time.
Ohio .Most of the wool in the state has
been pooled. growers manifesting in
creased confidence in that method of dis
tribution. The Ohio Fleece Wool Growers'
association Is holding Its wool at Colum
bus, while the Harrison County Wool
Growers' association has the clip from
three- adjoining counties stored at Cadiz.
Ohio. At the latter point the wool was
graded according to the U. S. tentative
woo! grades.
JlOKi: 1NTKKKST IV PRINE MARKET
Old i-nil Newr Crop Beginning to Move In
f-a-drra Otira.
Thrre hai been a better movement in
Oiej:on and California prunes In the east
ern market, according to New York trade
ixivl.es. which say that some four or five
of the large jobbers have been more active
and rave taken inoo-box lots. This la the
firsi definite improvement in demand in
some weeks, prices hae been shaded to
attract the business, but the fruit has
moveo. which is the prime consideration.
l. 'ders of old prunes, now alive to the
fict that they missed their chance to sell
a few weeks ag.i. to better advantage, ar
' unloading, and both California and
ELrmwestern inly croj have sold In In
creased volume. The smaller supplies ol
tMis c ass of fruit will help the new cro"
r.iarkct.
PORTLAND MARKET QIOTATIONS
Orain, Flour, Feed, Etc.
Merchants' Exchange, noon session:
Bid.
Wheat '
Hard white
Soft white
White club
Hard winter
Northern spring
Red Walla
Oats
No. 2 white feed
No. 2 gray
Barley
Brewing
Standard feed
Mullrun
Corn
No. S B. T. shipment..
FLOUR Family patents. $10.20; bakers'
hard wheat, $11.50; bakers' blu'stem pat
ents, $!; valley patents. $7.uu; whole
wheat, fS!0; graham. $b.43.
MI1.LFEFD 1-Tlcea f. o. b. mill. MIII-
run. $30 per ton; rolled barley, $4448;
rolled oats, $16; scratch feed, $t!0 per ton.
CORN Whole. $44; cracked. $47 per
ton.
HAT Buying prices, t o. b. Portland
Alfalfa, $20 per ton; cheat, $22 23
clover. $20; valley timothy, $27tf28; east
ern Oregon timothy, $30.
Dairy ana Country Produce,
BUTTER Cubes, extras. 42 43c per
lb; prints, parchment wrapped, in box
lots. 47c per lb.; cartons, 4Sc: butterfat.
buying, price, 3S6V4UC pound at stations;
A grade, 45c; U grade, 43c Portland de
livery. EGOS Buying prices, case count, 48c
delivered. Jobbing price to retailers, can
dled ranch, 53c; selects, 55c. '
CHFSi Tillamook triplets, price 14
Jobbers, f. o. b. Tillamook. 30c.
POULTRY Hens. 2Bfa33c; springs. 240
27c; ducks. 200 40c; geese. 32c; turkeys,
live, nominal; turkeys, dretsed, aomius.
PCKK Fancy, 14c per pound.
VEAL Fancy, 170'lsc per pound.
Fruits snd Vegetable.
FRUIT Oranges, navels, 3.505; lem
ons. $3. 734.75 box; grapefruit, $36 8.50
per box; bananas, 12 4 13 c per pound;
grapes, $4.5u lug; apples, $1.35(3.25 per
box.
VEGETABLES Cabbage, Hd'J'-.c per
pound; lettuce, $3.30'ri3.5 per crate; cu
cumbers. $2 per dozen; carrots, $1.50 per
sack; garlic, 20&25c; beets, $l.50'o2 per
sack; eggplant, 2Uc per pound; cauliflower,
$2.50(3.75 per crate; celery, $5'-5.25 per
crate; green peppers, 30c pound; sprouts.
17Sc per pound; pumpkin. 24c per
pound; rhubarb, 20c per pound; spinach.
$1.002.50 per box; turnips, $2.50 per
sack.
POTATOES Oregon, $1.50O"1.7S per 10"
pounds; Yakima. $2(j'2.23: sweet potato-
U4iic per pound, $3.20 per hamper.
ONIONS Oregon. $1.50 per sack; Call
fornia. brown, $l.50jj 1.75 per sack.
Staple Groceries,
lcal Jobbing quotations:
SUGAR Sack basis: Cane granulated.
9c per pound; beet, 8.80c per hundred.
NL'Tb Walnuts 222Sc. Braali nuta,
35c: Filberts, 21&25c; almonds, 26Q3UC;
peanuts, 0fe14c per pound; cocoanuis. $2
per dozen; pecans, 8235c; chestnuts. 2i
to 35c pound.
R1C1 Blue Rose, 9He per pound; Ja-
Dan stvle. 7tto per pound.
BEANS Small while. 6c; largo 'white,
6c; pink, Tiac; lima, 10c; bayous, Sfc;
red, 7c per pound.
COFFEE Koasted, bulk, drums, 1436c
per pound.
SALT Granulated, bales, $3.6094.23;
half ground, ton. 60s, $1.73; luos, 18.2$;
lump ruck. $2o..)0.
provisions.
HAMS All sizes, 2732o; skinned, 259
31c: picnics. 20c.
BACON Fancy, 40347c; choice, 30632c;
standard, 25vic.
LAHD Pure, tierces, S7o psund; com
pound, tierces, 14c.
JJUY HALT Backs, 21024c; plates, 20a
Hides, relts. Etc.
HIDES Salt bides, all weights, 6c per
pound; green hides, all weights, fie; salt
bulls, all weights, &c; green bulls, 4c; calf
skins, green or salt. 10c; kip skins, green
or salt, be; dry niaes. lzc; ary salt Aides,
He; dry calf. 13c. Above prices for coun
try hides and skins. Prices iur city skins
and hides follow: Calf skins, 12c per
pound; kip skins, 9c; city packer hides,
green, 6c.
PELTS Salt pelts, full wool, country,
35&50c; packers, aod'ttOc each; dry long
wool pelts, fine, 7o pound; dry long wool
pelts, medium, 6c; dry long wool pelts,
coarse, 4c.
TALLOW No. 1. 6c; No. 5, 4c pound.
CASCARA BARK 1020 peel. 8c pound.
HOPS 1920 crop, choice, 24 42125c pound.
WOOL Eastern scoured basis: Eastern
Oregon No. 1 staple, SOc; eastern Oregon
clothing, 4i0$p65c; Valley No. 1, 63c per
pound.
MOHAIR Nominal.
Heavy Buying of Investment Secn
rities Keported and Trices
Show Upward Trend.
BY STUART P. WEST.
(Copyright 11121 by The Oregonlan.)
NEW YORK, Jan. 13. (Weekly Financ
ial Review.) A general and rather sharp
fall in money rates, continued recovery
In the exchange, further heavy buying of
investment securities at rising prices and
varying but in the main more hopeful
trade reports, are the outstanding features
of the week Just passed. There can be
no mistaking the gradual growtn of con
fidence in business circles." The change
frum the extreme pessimism of a month
ago is very distinct. There is, pf course,
a good deal of unpleasant news still to
come in the shape of annual reports.
Industrial company earnings for the
first quarter of the new year will, In the
majority of cases, be poor. But ail this
has been expected and 'taken into ac
count. The main thing is that as com
pared with the latter half pf December,
upon the ability of Ihe pit digesting pres- j
sure. j
Oats This mnrlfel was more active than '
It has been for a long .time and declined
sharply in sympathy with corn. The cash
market was quoted 1 to 2 cents lower,
but the spot trading basis was firm.
Rye Futures were dull and lower with
wheat, while cash rye had a firm tone
and sold at IS centx over May for No. 2
on track. There was no export business.
Provisions There was fairly good trade
In provisions at the lower level of prices
In sympathy with grains and liberal esti
mates on hogs for Monday and next week.
Scattered longs and small packers were
the sellers throughout the session and
shorta covering on the breaks.
Leading futures ranged as follows:
WHEAT,
Open. High.
Mar..
May.
May.
July.
May.
July.
Jan..
May.
Jan..
May.
$1.75t4 $1.7im
l.OlHi l.U'1
CORN.
.73 5, .73
.74 V .74)4
OATS.
.4S. .4m
.47 .47
1 -O T .
S1.T-H4
,70'i"
.71
- .4.".-
.43
Jan.
May
MESS PORK.'
io . mMy'. iilis
13.77 18.77 " 1JM0
SHORT RIBS.
Close.
$1.73 44
1.60
.70
.71?.
.45 H
.45 44
24.30
23.55
12.02
13.02
11 77
12.52
STOCKS STRONG AT CLOSE
ADVANCES DUE 3IAIXLY
SHORT COVERING.
TO
Average Gains of One to Two
Points Are Scored Bonds Are
Sluggish and Uncertain.
there has been a
linen. In industries like cotton and woolen
Roods and boots and shoes which were
among the worst sufferers on la.t au
tumn's collapse. Production Is on the In
crease, the lowering of wages has been
accomplished with an astonishing lack of
disturbance and the price readjustment
has Rone far enough to attract new buy
ing in moat directions, although not in
ail.
aLer Money Expected.
The drop in time money quotations, in
call money rates and in bank acceptances
has been remarkable, although entirely ex
pected. Funds released from the crop
moving and from manufacturing channels
as well have been backing up upon the
financial enters from the Interior of the
country. This is what has forced rates
down and will In due time cause a similar
lowering of commercinl discounts. The in
vestment market is fully bearing out the
anticipations of a month ago. It was pre
dicted then that money would be easier
after January 1, that trade liquidation
would steadily increase the supply of free
capital and that with interest rates com
ing down, bonds and all other fixed in
rom spcirltis wo-iid rn up The h0"d
market for the last two weeks with Its
ail-.ti uuiid att .uiii t- of two, thite auu flte
points, has fulfilled this prophecy.
Despite the very large offerings of new
securities which the market has been
called upon to absorb during the last six
months each new high-class Issue Is
snapped up the moment it is brought out.
Long term mortgage bonds are being con
stantly taken by the big investing Insti
tutions as well as by Individuals and the
prevjii'inir vlw :s tha n'tift m t-e
ustal reactions, the upward swing In Id
vestments still has smite nisiam c io
before it has fully discounted the decline
in money rates, and the increase in the
purchasing power of the dollar.
Heavy Sacrifice Made.
The vitality In the investment market
was the one bright spot ail through the
crisis of November and December. Cor
porations had to make a heavy sacrifice
when they offered their new securities,
but they were able to sell them even dur
ing the worst of the troubles. The re
sult was that a part of the credit load
which the banks were staggering under
was lifted from their shoulders and passed
on to the investment community.
The investment market is about to per
form a similarly helpful function In for
eign trade. Within the next few months
the Fn-,.en Finance co""atlnn will
11'..- ' 1
Cash prices Tvere as follows:
Wheat No. 1 red. iul : No. 1 hard.
It. 7. ' -
Corn Xo. 3 mixed, $o&G7cl No. 3 yel
low. ti4 q 07c. -
Oats No. 2 white. 4uc; No. 3 white.
4.1 V fn 44c.
Clover seed, !t5$2&
Timothy seed 5uS 6.73.
Kibs $11.1591.20.
No. l li cit.
Pork nominal.
Barley 7:tiji)0c ' -
Lard $1,;C
Minneapolis 4. rain Market.
MINNEAPOLIS, Jan. 15. Cash. Wheat
No. 1 dark northern. Jl.7itiM.83; No.
2, 1.72r 1.71; No. 3. I1.U4 1.73; .No. 1
red spring. $1.73&t.7U; No. 2, $1.60 1.73;
No. 3, .2'pA,i; No. 1 dark hard Mon
tana. $l.ssi.8; No. 1 hard Montana,
$I.S51.SS; No. durum, 173' 1.74. -
Corn No. 3 yellow, fll 4f tUc ; Nd 4, AS
."nic; No. 5, .a!&54c; No. S mixed, 65
itnftc; No. A. 1:J. fq, ."i4c ; No. 5, 51 & ol'c.
Barley 53 t T;ic.
Flax No. 1, $1.9092.00.
Futures: Wheat uarch, $1.69; May,
Sl.titi.
NHW YORK, Jan; 15. The better tone
or today's brief stock market session was
tufc outcome mainly of further short cov
ering. Impelled by purchases of several
standard issues, with Reading again the
leaner.
Trading was fairly broad, Indpendent
steeis, equipments, shippings and oils shar
ing in the movement, also specialties rep
resented by International Paper, Amer
ican Woolen, Famous Players, Tobacco
and motor specialties.
Average gains of 1 to 2 points were held
for the most part, final prices in note
worthy cases being at or near highest
levels. Sales were 2S3.000 shares.
Weekly returns of the' clearing house
disclosed a decrease of about $11,-00,000 in
actual cash holdings, causing a deficit of
sUglttl more than $:,ut0,ooo In reserves.
The previous deficit of the associated
barks occurred in the final week of No
vember, when a loss of more than $4,000,
000 was reported. Actual loans and dis
count! of the clearing house decreased
S7,ti;;2,00O or almost $142.ooo,WtO this year
and reserves of members at the federal
reserve bank were low by 17.331,000.
The bond market, was sluggisn, and un
certain. Total sales. pir value. $o.0'J5,00.
Old United States gavernment bunds were
unchanged on ca!l for the week.
CLOSING STOCK QUOTATION.
Frimary Receipts.
CHICAGO. Jan. 15. Primary receipts:
Wheat 1,1,15,000 bushels versus JKVfl.OOO
bushels. Corn 1.457.000 bushels versus
743.0i0 bu.-rhela. Oats 720,000 bushels yer
sus 011,00(1 buiels.
Shipments Wheat. S.OO bushels, ver
sus 70S. 000 bushels. Corn, til 1.000 bushels
versus 4t.i0O0 bushel. Oats, 451,000 bush
ela verus 471,000 bushels.
' -ftuluth Unseed Market. '
T)ULUTH. Jan. 15. Linseed, on track
and to arrive, $.00.
drain at Han Francisco.
SAN FRANCISCO, Col.. Jan. 15 Grain
Wheat, $J.7.'iii3.05; barley, spot feed, $1.50
1.55, shipping, $l.t5jj-l.oo; oats7 red
feed, $1.50fr 1.75; corn, white Egyptian,
$J.75 J.S5; red milo, $2 ft 2,05.
Hay Fancy wheat, $206 21 ; tame oat,
$!7l( 10; wild oat, $1215; barley, $1215;
aifaifa, $1323.
Seattle Grain Market.
SEATTLE, Jan. 15. Wheat Hard
white, $1.05; soft white and white club,
$l.tki; hard red winter, soft red winter,
northern spring ami eastern red Waiia,
$1.!; Big Bend bluestem, $1.70.
Ciiy delivery Feed: Scratch feed, $01
ton; feed whei'.t, $03; all grain chop, $51;
oats, $40; sprouting oats, 154; rolled oats,
$51 ; whole corn. $47 ; cracked corn, $40 ;
rolled barley, J5U; clipped barley, $55;
milled feed, $30; bran, $:iy.
Hay Alfalfa, $27 ton ; double com
piessed aftaf ia, f ditto timothy, i-i'J;
eastern Washington mixed, $35.
b.VN FRAN CISCO I'KODLCIS MARKET
Prices Current on Vegetables, Fresh fruits.
Etc., at Uay City.
SAN FRANCISCO, Jan. 15. Dairy prod
use exchange closed.
Eggs Flesh extras, 65c; extra firsts,
64 2 c; extra pullets, 61c; undersized pul
lets, 5ie. "
Cheese Flats, fancy 23cc; firsts, 23c;
young Americas, lancy 31c.
Vegetables Eggplant, southern, 7 10c;
u miner squash, $2 25 crate, potatoes.
Ptreet prices rivers. $152.U0. Sa-inad,
$0. 15 3.25 ; sweet, $5g 5.25; onions. Aus
tralia!, brown, Uuc(&$l, green, $1.2oul.30;
beans, 15rt20c; tomatoes, U0cd$L7u; cu-
gin cperations. and it coun t upon rail- I cumuer, hotoouae Louwl.25 doxea; clery
AKK VKKV FIRM AT CLOSE
F"t-ra Order Keep Market Cleaned I p.
It 11 Her I Steady.
Tht egg market cloyed Very firm. Re
ceipts were of giiod size and were taken
car ol by the active shipping demand.
C'uirrit receipts changed hands on the
street at 4!Ki5H cents. Eastern buyers who
were on the market bid 55 cents for strict
ly trceh large whites in new cases. Jobbing
prices were advanced a cent.
Jlulttr as reported steady. Cube were
eflered freely but all did not clean up.
oils,
LINSEED OIL Raw, la barrels, $1.01;
drums. $1.08; caces, $1.16. Boiled, in bar
rels. $1.03; drums, $L10; cases, $1.18.
TUKPiiNTiNli In tanks, $1.21; cases,
$1.36.
CuAL OIL Tank wagons and iron bar
rels. 17c; cases, 3037c
FUEL OIL Bulk, $2.35 per barret
OASOLINii Tank wagona and Iron bar
rels, iyc; cases 4 1 He
Reaction in Coffee Futures.
NEW YORK, Jan. 15. Reports of an
easier tone in Brazil and lower cost and
freight offers from Santos led to furthei
liquidation and reactions In the market fot
coffee futures here today. First prices were
4 to 0 points lower and active months sold
12 to 2N points below last night's closing
quotations. This brought In scattered cov
ering, but last prices were at the lowest
on most positions, showing a net decline of
10 to 2$ points. Januarj. O.Ortc: March,
rt.37c: May, fi.SOc; July. 7.20c; September,
7.57c; October, 7.70c: December, 7.n:ic. ,
Pnot coffee was reported in moderate de
mand w ith prices unchanged at 6 7
for Rio 7 and 9urtc for Santos 4s.
Naval More.
SAVANNAH. Ca.. Jan.- 15 Turpentine,
quiet; 02 H: "O a!r; receipts. bar
rels: shipments, 245 barrels; stock. J5.5S4
barre's.
Rosin, quiet; no snles; receipts, ins bar
rels-; shipments. oi2 barrrel; stock, SQ, 1(11
. - D ? 1 IT it it A
narris. " T j, 11, 1, t.,
M. N, WG. WW. 111.
New York Sugar Markets.
NEW YORK. Jan. 15. Raw soigar,
$5.52 for centrifugal. Refined, $7.7$ fur
fine granulated.
nig Us capital tnrough ui su.u of uo
benture bonds. This wilt mean that the
Investing public will supply the funds to
extend credit abroad and start up the
f '"-'Kn 'id5 ''InF K;i ""T'nsiv,i,t,"
from the banks which have gon
h.. iar tht v ... a ii. ...,un(i.iB' the m
ligations of foreign customers.
Now a third way has been suggested.
wherehv the vast resources of th" in 1 rooster3.
me it mar et and the evident readiness
to uve them may be placed at the service
of the omnium ty in km periou ol ruu
valescence. It is proposed that the $ 12,
000.000,000 debt which the governments
of Europe owe t the lTnited Htates t"v.
ern merit be funded Into a loan and of
fered to American investors. 1 ne acta 1.3
of the project have not been worked out.
The bonds would be secured by the pub
lic credit of the European nations and
would be supported by the public credit
of America. They would therefore rank
with Liberty bonds and would have to be
brot;ht out in a way that would not in
jure the market for the latter.
BREAK ATTHACTS BUYERS
FOREIGNERS COME INTO .MAR
KET ONLY AT DECLINE.
Wheat Is Carried Down by Severe
Slump in Corn Prices.
Oats Al Lower.
CHICAGO, Jan. 15. Grain market, were
weaker and lower today with oats at a new
low. The decline- followed a break in corn.
Wheat fini.hed off i't to 4c with March
1.7:t to Sl.T.'i and -May JlStlM, to
1 tfii'i: corn showed a net lot. of to
3Hc and oata were down to 2 to 'JVic,
the lo. in provisions ranging- from 17 to
30 cents.
ForeiKnera came Into the wheat market
a. heavy buyers on the break, exporters
takina around 4(iO,OOU busheis. The demand.
however, waa not broad enoush to absorb
the offerings and the market closed at
tha bottom.
torn started the downward trend for
alt grains. The heavy hedging sales were
responsible, one house being said to have
hedged mor. than 2,000,00ll bushels There
was a lack of persistent buying by atrons
interests.
Oats broke sharply and showed rela
tively more weakness than other grains,
ihe undertone being heavy.
Provisions declined with grains aud on
scattered- selling.
$l.;u'g3 crate; cauliflower. Kuc&Sl
dozen; cabbage. 1 cent pound: bell peppers,
southern, l.'i'yOc; turnips, TOcitil.j sk. ;
beets, $1.2a sack: parsnips, l.'OJ.OU
lack; carrots, $1.20fo sack; peaa,
Dlc pound; rhubarb, $2.2o3.00; Irt
tucj, $'lii'.'a crate; artichokes, TOctffl.JO
dozen, apinach, u&tc.
Poultry Hens. ati39c; strictly young
iWitSC: o,d. Jfrr'l'Jc: frver.1
40'4oc; broilers, 4juio'c; ducks. 283Jc;
squabs, 70b 80c; Belgian haroa. live,
'aJoc; geese, 3-fJ0c; pigeons, old
12.00 ft 3.00 dozen; turkes, dressed,
io.'t.ic; live.
Fruit Navel oranges, $2.004.00; lem
ons $2.O0lfci3..i4; letuonettes. l oud(2oo
grapefruit, new crop, $..-Otf7 2.50; Arizona,
t-fi-1.25; limes, $1. 7u; tangerines,
$2 504; bananas, bg10c; apples, ev.
to-viis. $1.2oV 2.85.
Receipts Flour, 47.010 quarters: barley,
900 centals; beans 005 sacks; corn. 200
sacks; potatoes. 7021 sacks; hay. 27! tons:
hides, '544 rolls, lemons and oranges, 350
boxes. - .
Honolulu Short Homes. .
HOXOLVLU, T. .14.. Jan., 13. (Spe
cial.) There is a serious shortage of
homes in Honolulu and the famine in
moderate - priced rooms, apartmen ts
and homes. The Hawaiian tourist
bureau has started a campaign in an
effort to discover more rooms for
homeless tourists. Tents are going
up in some of the gardens in order
to accommodate the crowds of tourists.
. Last
Sales. High. Low. sale.
Am Beet Sug simi 45', 44 45
American . Can 1,000 27 27 27S
Am tar & Fdy aoo 1245, 124 124?,
Am H &L Fid 1.S00 45 44 i 45
Am Inter Corp 2.SOO 4ti5g 45 40
American Loco 500 K:l 'j 83 (t
Am Smt & Rfg .'HKI ,17 4 37" 37 Vi
American Sug Boo 92 P2 02
Am Sum Tob :too 77 7(3i 77
Am Tel & Tel SOO inlt, fc.l!j ui'li
Ameri Woolen l.lort 80 67
Anaconda Cop fii H74 S7H
Atchison 1.100 S3 S2" (.!
At Gf Jc W In -2.WMI 724 71 T2'
Baldwin Loco 5.800 1" !I0 91
Haiti ft Ohio 2.41") 37 3lil 3ttt,
Bethle Steel B 1,400 50 M 50 U
But & Sup Cop 200 12 12 12"i
Cal Petroleum 4O0 20U 20 20 H
Canadian Pad 500 117 11B'4 117
Centrl Leather. 0ih aoH 38 SHte
Chandler Mtrs ' 600 08 Vj 08 tt-H
Ches & Ohio 5O0 til 't fit -6
Chi Mil & St P 4IMt 2!li. 20 20i
Chic'go & X V 200 BfHi' 00 Go
Chi It I & Pac 400 27 27 27
Chino Copper. . 1.000 2J 21 22
Colo F) & Iron 200 29 20 20
Corn Products l.:io0 7014 - 00 '4 70?i
Crucible Steel 7.100 llliu, 94 M , 95 V4
Cuba Cane Sug 100 22 Si 22 4 82 i
Erie UNI 14 14 14
Generl Electric 5,300 12:14 121 14 121
Generl Motors l,4oo 15 14 14
Grt North Pfd 3oO 77 70 70
Illinois Central 2o0 Ml 80 so,
Inspir Copper Boo 89 80 80
Int Me Ma Pfd 1.000 59'4 51 54
Interna Paper J.Bimj 59 58 5fi'i
Kenne Copiier 000 19 19 19
Mex Petroleum' 6,100 102 100 102
Mid States Oil 8.100 l:! . 12 ,1314
Jlidvale Steel 1,700 82 31 32
Missouri Pacif 2O0 19 10 10
Xew York Cen 400 7:1 7:! 7:1
X Y X H A K 8.500 22 21 22
Xor & Western 1,900 102 102 1"2
Northern Pad 2,200 84 83 Vi 84
Ok Prd - Rfg 1.001) 3 :'. :;
Pan-Am Petrol 1..100 75 75 75
Pennsylvania.. BOO 41 41 41
Pitts-& W V'a 2.S00 31 30 31
Hay Con Cop loo 13 13 13
lieadlnc 31,100 89 87 80
Rep lr'& Steel 3.900 70 9 60
Knyal D X Y 1.0iM 68 67 67
Sin Oil & Rfg 3.400 24 23 23
Southern Pad 2.200 98 OS !IN
Southern Rwy , 2.800 23 23 Vi 23
S O N J Pfd 400 108 IOS 108
Ptudebak Corp 5.7iM 52 51 51
Texas company 2,300 44 43 44
Texas & Pacif 200 10 18 18
Tobacco Pnlta 3m 35 54 5.".
Transcontl Oil l.ioo 10 0 10
Union Pacific 4O0 120 120 120
U S Food Pdts 2,500 24 22 23
V S Ind Alchi SOO (!S 67 68
V S Rtl Stores 700 55 54 55
U S Rubber.. 1,800 6H 00 6
TT 8 Steel 3,800 83 82 S3
17 s Steel Pfd 1O0 110 110 110
Ctah Copper.. 400 5:1 53 53
Western Ininn 100 87 S7 87
Went Electric 1IM) 44 44 44
Willys - Overld 3.700 S 7 7
BONDS.
V S Lib Sts...2.8niAtch gen 4s 79
lnr from Interior sources at 5. 4 and
per cent. Time funds relaxed to 0 per
cent. . .
Principal foreign exchange rates re
flected financial and political conditions In
Britain and France, with sympathetic re
action at other European centers. It is
known that loans to Switzerland and other
central nations, also to South American
countries, are under active discussion and
that readjustment of impending maturities
by England and France is .contemplated.
Foreign Bonds.
Following foreign bond quotations are
furnished by the Overbeck & Cooke Co. of
Portland:
Russian 5s, 192t
Russian 5 a. 1028
Kussian- Us. 101
Currency
French 5s, 1031
Flench 4, 19J7
French 5s, 1020
Itahan 5s, 1918
British 5-s, 1922
British 5s, 1927
British 5.. 1929
Britidn vky 4s
British ret 4s ;
Belgium rest 5s
Ueigium ptem 5s
Ge'rnlan W. L. 5s
Berlin 4s
Hamburg 4s
Hamburg 4s
Leipsig 4 s
Leipsig 5s
Munich 4s "
Munich 5s
Frankfort 4a
Jap 4s
Jap 1st 4s
Jap 2d 4s
Paris sixes
U K 5s, 11121 .........
L' K 5s, 1022
U K 5, 192!)
U K Ja, 1U37
Bid. Ask.
'. 11 13
. 0 S
. 13 13
. 45 50
. 4 .) 51
. 40 42
. 5S tiO
. 25 27
. 203 27 t
.345 358
.345 355
1243 258
. 58 01
. 61 03
. 11 12
. 12 13
. 12 14
.- 12 14
. 12 13
. 12 13,
. 12 15'
. 14 15
. 14 15
. 5 58
. 70 77
. 70 77
. 95 95
. 97' US
. 94 95
. 88 . 80
. 80 87
do 1st 4s mimi n & r g con 4s.5
do 2d 4s ... .87.00 N Y c deb us. .
do 1st 4 s. . .87.00'N P 4s
do 2d 4s 87.12 N- P 3s
lin 3d 4 s. . ..90.30!Pac T & T 5s..
do 4th 4 Hs. ,.87.22 1'a con 4s...
Victory 3s ...97.20 S P cv 5s
do 4s .. 97 24 So Ry 5s
I" S 2s cpn. . . . 100 11' P 4s
IT si cv 4s cpn.M94 L" S Steel 5s...
A T & T cv 6s. 90
92 -
78
55
.81
. 90
S2
87
83
95
Bid.
llEfiERVE RATIO AGAIX IXCKEASED
'Federal Board Reiforts Gain of 1.7 l'er
tent During Wek.
WASH1XGTOX. 'Jan. 13. Resources and
liabilities of the 12 federal reserve bank?
ar the close of business Frnday, January
14, were reported tonight by the federal
board as follows:
Resources
Gold and gold certificates. . .$ 47,305.000
Gold settlement fund federal
reserve board 393. 173.000
Cold with foreign agencies.. 3.300.00O
Foreign Exchange.
Foreign exchange rates at close of busi
ness yesterday, furnished by Northwestern
National bank of Portland. The amount
quoted is the equivalent tn United States
dollars:
Austria, kronen 8 .0022 I
Helglum. francs 01147
-Bulgaria, leva 0122 !
Czecho-Slovakia, kronen '
Denmurk, kroner 1785
Kngland, pound sterling 3.7550
Finland, finmark 0328
France, francs 0015
Germany, marks 0153 (
Greece, drachmas 074.N
Holland, guilders 3288
Hungary, kronen .0022!
Italy, lire 0319 ;
Jugo-Slavia, kronen 0073 i
Norway, kroner 1733'
Portugal, escudos 1145,
Roumania, lei - 0137 ,
Serbia, dinara 0280 .
Spain, pesetas 1335
Sweden, kroner 2100
Switzerland, francs 1577
China
Hongkong, local currency 5725
Shanghai, taela 7650
Japan, yen 4825
NEW YORK. Jan. 15. Exchange, irreg
ular; sterling unchanged. Francs, Belgian
francs, lire and Montreal unchanged; guil
ders, demand 32.70, cables 32.80; marks,
demand 1.49v cables '1.50; Greece, demand
7.48. Sterling hardened in the iate deal
ings; demand 3.73, cables 3.73.
Liberty IloniK Yields.
SAX FRANCISCO. Jan. 15. Approxi
mate yields of the different liberty loan
issues based on 'th market prices at the
close of business today shown in a weekly
table issued today by the federal reserve
bank of San Francisco are as follows:
First 3s, market price 91. approx
imate yield, 4."r per cent; first 4s, 86.
4 93 per cent; first 4s, 87. 5.13 per
cent; second 4s, 80, 5.00 per cent; second
4s, 80, 5 2(1 per cent; third 4 s. 90.
5 87 per cent; fourth 4s, 80, 5.41 per
cent: victory .s, 9i , 9.09 per cent,
victory 3a, 97, 5.03 per cent.
Money, Silver, F.c.
NEW YORK, Jan. 15. rrime mercan
tile paper, unchanged.
Bar silver, domestic unchanged. For
eign 67 c.
Mexican dollars, 51 c.
LONDON, Jan. 15. Bar silver. 40d
per ounce. Money 5 per cent. Discount
unchanged.
Swift & Co. Stocks.
Closing prices for Swift & Co. stocks at
Chicago were reported by the Overbeck &
Cooke company of Portland as follows:
We Offer and Recommend
I
N
instctom or
or way
External 4 Sterling Bonds of 1911. These bonds are
the general obligation of the Kingdom of Norway and
are payable both principal and interest in London
exchange.
Price: $230 per 100
Par Value $486.66
These bonds ' ai-e rated as "Aaa," the highest rating
possible. In our opinion these bonds afford one of the
safest long-time high-yield investments now obtainable.
Wire or write for full details.
Investment Eonds
87 Sixth Street Broadway 1012
Ground Floor Wells Fargo Building
rod. professor of bioloiry. University
of Montana; Harvey Thumber of Cor
vullis. Or.; J. C- Wood of Missoula,
Montana state horticulturist, and M.
L. Dean, commissioner of hoitioulturo
of the state of Washington, former
state horticulturist of Montana.
Laborer Dies in Sewer Trench.
SPOKAXH, "Wash., Jan. lo. Chris
Harmpen. a laborer, was killed here
this afternoon when a sewer trench
he was (lifc'j?inff caved in and crushed
him beneath the cribbing. He was
married and leaves a family.
Swift & Co...
SviU Internationa!
I.ibby. MoXeal & Libbv...
.National .Leather ........
II! '4
The Chicago market Iftter received yes
terday by Overbeck & Cooke company at
Portland sabl :
Wheat Lower prices were made at the
start lth liquidation so heavy that the
or.ly surprise i)as that prlees held as wel!
they did. there was mnuentiai news
in plenty on both sides of the market. Kor
the shorts was the report that the British
commission had reduced the selling: price
of wheat in the United Kingdom, country
offerings were reported large in the south
west and also somewhat better In this
territory for the first time In several
months. Cash prices were lower with fu
tures. The veiling late yesterday was
based largely on the theory that export
ers1 would remain out of the market, but
this proved entirely erroneous todny. when
sales estimated at 1 .400,(HH) bushels were
made on the decline. An unconfirmed
rumor was received that the Argentine
government would place a tax, including
regular and super tax. equal to over IS
cents a bushel. An unsettled situation is
very likely to prevail until It is definitely
known what action is to be taken by the
Argentine government on the tax ques
tion, as that will no doubt determine
whether or not foiigners are to continue
buying In this country on a Urge scale.
Corn Liquidation got under way on a
tremendous scale immediately after the
ODenine. and although support was riven
from time to time, tne volume of selling . A
was ioo ij ir 'j eupt at '
DAIIeV MKTKOKOUH.1CAI, REPORT.
POftTL'VN'D. Jan. l.V Highest tempera
ture 51 degrees; lowest, 33. Hiver read
ing. 8 A. M 8 feet; change in last -4
hours, 0.4 foot rise. Total rainfall R
f. M. to 5 K M.J, 0.73 inch: total since
September 1, lft2. I'H.l-'O in r lies; normal,
Uli.tiH inches; excess, r.."7 inches. Sunrise,
7:4:t A. M.; sunset, 4:52 P. M. Total sun
thine, none ; possible sunshine, it hours
and 2 minutes. Moonrise (Sunday , 11:06
A. M. ; moonsct ( Monday), 1- :54 A. M.
Barometer (reduced to sea leve, 5 P. M.,
30.14 inches. Relative humidity: 5 A. M.,
H2 per cent; noon, U4 per cent; 5 P. AI-,
bU per cent.
THE WKATHKR.
Wind
1 i !: H
I n
- Z !"? ' 3
STATIONS. 5 3 : : -3 Weathef
s I :s : ;
3 2 ; . .
I ! i M
Total gold held by banks.. S 43.SCN,OO0
Gold with F. R. agents Sl.-Jd.vrS.onO
Gold redemption funds 17(.OVS,(M'0
Total gold reserves $J,OS5.4o4.0jO
tender note, silver.
Legal
etc
Total reserves
.$ o:i.(s4.000
.$2,,538.000
by
Bills discoiLn ted secured
govt, obligations $1,024.(107.000
Rills flistounted. all other... 1,424.i33.ihmi
iiills bought in open market 'J('3,4I4.(M)0
Total bills on hand..
Govt, bonds . . .
ictory notes
L S. certificatta of indebted
ness i
Total earning asset
Rank premises
Uncollected items and ether
deductions from gross de
posits Five per cent redemption fund
against F. R. banks' notes
All other reooutces
.. $2,052,052,004
. . .$ 2,,SSS.(H0
jy.vuo
2sri.fisr..o(Ki
2.im;s..".44.iho
17.0."iO.HtO
70G.7Cm.000
12.700. fOO
t;.ii2.o)0
Total resources
r.H.'JOOl.l.OOO
Baker .
Boise . .
Boston
Calgary
Chicago . . ..
Denver . . . . .
Ues Moines. .
Eureka
Galveston
1.1 uneau
Kansas City.
Los AngHes.
Marshfield .
Medtord ... .
Helena
Minneapolis ,
New Orleans
New York . . .
North Head..
Phoenix ...
Poca tello
Portland . . .
Rosf burg . . .
Kjtcramento
St Louis. . . I 1 :
Suit Lake. .1 32
.1 28j 4S 0.(H . . N W;CIoudy
.( 32i .Sj(t.iHs . . ISW iCIoudy
.) 44 44i't. 42,12 W Cloudy
.1 ItSi 12 i.7Ui. . .SK
i lrt' im m.(m;io Sv Cloudy
4 ; i.' ti. mrU; v 1 1 i. uiuuuj
h 2i 0.00;. .jSE .Clear
44j 4H:o.O0 . . Cloudy
4(1' (;(H.0(t!l4,SV Clear
14 2 O.twu. .'E Clear
isi 40 0.00112 !Pt. cloudy
I Ml 7S 0.00 . .SV Cloutiy
4fl' 4S (.2S'. . SW ICIoudy
I 3.V 3S ii. mo:. .'W Cloudy
j 4(1! 50 0.0014 SW Cloudy
2l li0.(2;i(l SB iCIoudy
40' (iii u.lMd. . SW (Clear
32 30.54 18 W iCIear
3;i 44;0.."S;..I 'Cloudy
. I 4 71 i 0.00'. .:sK Pt. cloudy
34: flrt.o.oo 20 SW ICIoudy
j :7! :;su.7.v.. e cioujy
44 (.m; . . X 'cloudy
:;4f 4t o.oo1. .-. ...Pt. cloudy
0.(M,l(i s .clear
0.(H . . XW Cloudy
Liabilities
Capital paid in
Surplus
Government deposit
Due to members' reserve ac
count 3,7.". "2
Deferred availihllftv items. . wO'.l.l o
Other deposits including for
eign govt, credits 27.404.000
Total gross deposits
?o,si r,, nor.
202.o."rt.ooo
S. 170.000
i.ono
i.ooo
Iefieit in Itunk Reserves.
XEW YORK, Jan. K. The actual con
dition of clearing house banks and tru.st
companies for the veek shows a deficit in
reserves of $2,072,300 due to a decrease
frum last week of $11,203,020.
Chicago Livestock Market.
CHICAGO, Jan. 15. Cattle Receipts
10O0; compared with we'k ago, good to
best beef steers, asking 25c to 50c lower;
others averaging fully steady ; she-stock
steady to 25c lower; bologna bulls, 50c to
75c lower; fat heavy calvea, $1 to $1.50
lower; blockers aud feeders, generally 25c
higher."
Hogs Receipts 12.000; active, steady to
strong with yesterdays average; tup,
$0.75; bulk. $0.3oti0.0; pigs, steady to
10c lower; bulk, desirable 00 to 130-pound
pigs, l.ti0$r 75.
Sheep Receipts 4000; compared with
wek ago, handy weight Iambs. 50c to 75c
lower; weighty lambs, $1 to $1.50 lower;
yearlings. 75c to $1 lower; fat sheep, 50c
to 75c higher; feeder lambs, 25u to 50c
higher.
Omaha IJvestock Market.
OMAHA. Jan. 15. Hogs Receipts
10.001, -mostly 10fc20c lower; closing
active with most of decline regainml ;
bulk of all sales, $S.0&.2ft; top. $0.35.
Cattle Receipts 750; market compared i
with week ago, beef steers and she-.stoc-k !
generally stejidy; top steers, $10; top fat
heifers, $tt.50 ; bulls, steady to weak ;
veals, firm ; stockers and feeders, steady ;
she-stock. 25 fi 50c higher.
Sheep Receipts 400; market compared
with week ago, lambs 50c lower; yearl
ings, 25$i 50c lower; aheep, 75c(u $l higher;
feeding lambs, 25(h50c higher.
Savings
Investment
In the judgment of all able
and careful observers .of
financial conditions is the
most direct route to future
prosperity.
The exceptional opportun
ity open for the investor
with ready money is pass
ing. The stock market at
present has the appearance
of calmness after the storm
- and in our opinion now is
the time for conservative
accumulation.
We have compiled data on
a number of stocks that are
selling for only about half
of their intrinsic values and
in addition to dividend
yields that average about
10 per cent, offer the pos
sibility of substantial profit
through appreciation in
market value.
Addrett Dcpt.VGS or com
plete informal. . o oblig
ation in writing. '
Ch'rlRLEsRCLfSRKSDN'si
66 13 roa A way. - New YorK.
TLSPiKE5iK.SCTOR. 4 too J -4
8
Province of
Saskatchewan
4
Gold Bonds
Due July 1, 1S23
At 91.09 to yield 8
Bonds ready for immediate
delivery.
Circular on request.
CIark,Kenda!l&Co.,Icc.
Fifth and Stark Sts.,
Portland, Or.
$2,302,211,000
Federal reserve notes In ac
tual circulation ....
Federal reserve bank notes la
circulation, net liability. . .
All other liabilities
Total liabilities
. .$3,133,491,000
213.177.000
23.0S3.000
San Ltfego.
S. Francis:
Seattle . . .
Bitkat
Spokane . .
Tacoma
Tttoosh Isd.i SS 42 0.4i
Walla Walla 4' 54 0.22:
Washington ,
Winnipeg ..
52 j 7u o.mi' . . 'SK Pt. cloudy
42' 5 O.tMi 72 X WjCIear
HV 40 0.02 10'E Vlear
1 12 30 0.OV . . 1 . . ..ICIoudy
42: 42 0.0O 12 W ICIoudy
42 'sis it't. ciouay
S iPt. cloudy
. . X ICIoudy
4.M - . iCIoudy
-s! 0. 4012 X Snow
30 40 0.00 . . :s W IPt. cloudy
price concessions 1 here was really no
change In the news to account for the de
cline. It was simply a case of the hedging
pressure being loo great for the buying
power, which induced the selling out of a
large numoer 01 long lines, ine cash mar-
tA. M. today. P. M. report of preceding
day.
FORECASTS.
Portland and vicinity Rain or snow;
northeasterly winds.
rirt'P-nri nnd Washington Rain In west
kel was about 3 cents lower. Shipping portion, cloudy lp east portion; increasing
sales- were 275. 000 bushels. Including northeasterly winds.
liou.iMHt Dusnem inr export, and additional
export business was reported at outside
ts " Kn ri.mhr tho mirbof takn ; . n..
iu in " a sfronrer position but thA NOIl'PH HEAD. Jan. 15. Condition of
mediate course uf pncei will be deuendent the e ftt 5 V, AL, moderate; wind calm.
Report From Mouth of I'olambia.
$0,000.7 U.000
Ratio of total reserves to net deposit
and federal reserve note liabilities com
bined. 4S.I per cent.
Ratio of gold reserves to federal reserve
notes in circulation, after setting aside Xi
per cent against net deposit liabilities, 54.8
per cent.
PVBL1C INTEREST IS LACKING
Stock Cains of Opening of Year Are Not
Maintained.
NEW YORK. Jan. 15. The customary
"January rise," which marked the early
days of the new year in the securities
market, experienced a moderate reversal
before the end of the first fortnight, dun
chiefly to a change in the tech meal sit
uation. fetocks of the more mercurial or specula
tive variety, especially those which fea
tured the tbrst week's bewildering move
ment, fell back and were less active.
Yet another reason for the reaction was
found in the failure of the public to re
enter the market.
industrial conditions, as applied to the
steel industry, have undergone no change
for the better, according to the adverse
December tonnage report of the United
States Steel corporation. More recent sur
veys rfer doubtfully to the immediate fu
ture or that industry.
That the directing forces o-f the leading
industrial and merchandising concerns are
committed to a policy of extreme caution
was again demonstrated by the substitu
tion of script and stock dividends for cash
payments by Sears, Roebuck and Wilson
Packing company.
The most significant development was
the fall of call loans to 6 per cent, thi:
change being effected largely by offer
Kun su City Livestock Market.
KANSAS CITY, Jan. 1 5. i'attie Re
ceipts, 3HJ head. For week: Beef steers
steady to 75c lower, mostly ;ifa 40c lower. 1
she stock steady to 50c lower. Other glides
weak'pst, canners steady ; bulls 25c lower;
calves $1 lower; stockers and feeders
mostly steady to 25c higher; fieshy heavy
feeders lower; stock cows and heifers 25c
lower.
Sheep Receipts 10o0 head. For week :
Lambs and yeariings, 15U-25c lower; sheep.
5U&75C higher.
tf
Seattle Livestock .Market.
SEATTLK. Jan. . 15. Hogs Receipts.
130 head. IiuII. Prime $11 .SOW 12; smooth
heavies, $10.50 M'l 1.50; rough heavies, $s.j0
H it; pigs loft 1 1.
Cattle Receipts. 113 head. Steady
Prime steers $.75'i9.5; medium to choice,
$7:.25; common Io good, $01a7; bst
cows and heifers, $7 U 7.50; medium to
choice, $5 bO'n 0 50; common to good. $4 'i
5.50; bulls, $4iti; calves, light $11? 12.50;
heavy, $0i T.
ICUstern Dairy Produce.
NKW YORK. Jan. 15. Butter, steady;
ereamery higher than extras, 52 H: f$i 530 ;
extra. 51 f 25c; firsts. 43'(51c.
Eggs Firm: fresh gnthered extra firsts,
7Sf 70c; ditto firsts, 70 77c.
Cheese Firm, unchanged.
CHICAGO. Jan. 15. Butter, higher;
crermery extras, 48!ic; standards, 47c.
Kggs Higher; receipts, 4 124 cases;
firsts. 72g72H-c: ordinary firsts, fir. "4 gi
nxuc; at mark, rases included, C7 Vs
OOc; refrigerator firsts, fi2i5.63c.
Sen 1 1 1 e Du i ry Prod uee.
SEATTLE. Jan. 15. Eggs Select local
rtneh. white shells. 54c; pullets. .W
Butter City creamery in cubes, 40c;
bricks or prints. 47c; seconds, in cubes,
44c; brick. 45c; country creamery extra,
cost to jobbers In cubes, 43c; storage, nominal.
Cotton Market.
NEW YORK, Jan. 15. Cotton
steady. Middling. $17.00.
& to & .C5
Income Tax Exempt
City of
Casper, Wyo., 6s
Mnlurlty l'rlvr
Sept. 1. 1!I23 i 97.50.
3 9-1 " " .
" :
192G " " .
1927 " " .
192S- " " .
" 1929 " " .
-Spot,
PLANT EXPERTS TO MEET
Specialists in Horticulture Will
Hold Stale Convention.
HAMILTON', Mont., Jan. 15. Lead
ing horticulturist and specialists on
horticultural problems from all parts
of the northwest are expected to at
tend the 1921 annual convention of
the Montana Horticultural society
here January 18-20. The horticultural
society is the oldest agricultural or
ganization in tne state or .Montana.
Dr. L. O. Sisson, president of the
V'niversity of Montana, at Missoula,
is schcuuiea to aaaress tne conven
tion the opening aiy ana xuesaay
Professor Ii. A. Cooley, state etomol
ogist. of Bozeman will speak.
Other speakers scheduled to ad
dress the body Include Dr. ii. J, Kl-
PI Ask for circular O "S.
phone.
Call
Wire orders collect.
Freeman, p
h
S SMITH
Vhat about the
Motorkdustry?
Has it reached the sat
uration point ?
Will motor sto ks
come back 7
What is the present status of
different companies ?
All these questions are cov
ered in detail in oar current
Market Review, which w 11 be
mailed tn anyone tree upon
request.
Ak for PG-5!
E. TA. Fuller St Co.
AJauiberr ol
onfoltdfcteri bto hioiiango of N. Y.
SO Eroad St., New York.
New York Newark CkveiaaJ
Chicago tioatoa
it :o Pnj-, Tf
0VERHECK &
COOKE CO.
IJrokers, Stocks. Itimds. CoHon,
tiruiii. Kt .
216-217 RO.KI OK TIMI'K I!M'0.
Vu!ii Uiilli.. liuMi,
J'ori hi od. Or.
reiidleloii. Or.
MEM it KKS HI At.O ltOAKl) OV
iic.U).:.
Correspondent of l.otr:in Ilryuu,
(iiiiugo ami New Vork.
MKMltKKS
w Vork Stock Ki Intnge.
( lib ug Mot k t ln.iut.
I tost on ,S!m k Kxi ii.inge.
'lituK lioiird ot 4t:iJe.
New 'if t o(tn Km h:inge.
New Orleans (tifloii I mIi.iiiuc.
Nrw urk I'mtlutt K VfliuitKti.
'inniieg (iiiln Kcb:ii!Ke.
l.iteipod Collou AsbtKiution.
OROUNO FLOOR
LUMBERMEN Building
Fifth and 8tabk
WW 8740
CAMP
CO.
Will Finance Corporations
-ornorations requirinK aiMiii'in- (
al finnnct. that are on earning ,
hnsis ami have been in business j
' for one vear or longer, can se
cure immediately $100,000 to
1 $1 000 000 through the incre:ts- '
ing of the capitailza;ion or to
issue treasury stock. Corpora
tions must have pn id. or will I
soon pav, dividends and have
not less than 5"0 stockholders.
When replying, state about how !
many stockholders now in your j
corporation. I
I I.AriKH. !
Itooin KtO, Trilmnr Building,
Chicago, IlllnuiN. j
: i' I
HEREIN & RHODES, INC.
Kstablifh.-d 1M1.
Seattle, I'ortlii r.d. Tncfinin.
FiiKt private ilitpl. x wire .cn.cit t.)
coast. Stacks, .fitiiiils, Cirain, Cuttnii,
k'uwm n Kxt h.inK1'. .
A IX MAKKKTARKK SKCI'KITIKS.
Mi'mbers Chicapo Hoard uf Trjulo,
Citrru.spondciits l lluttun Co.
MciiiImth
New Yurie Ftr.Ht Ksohriiiirf1.
New York Co: tun K h;i m;
NW Orh'.ilis C'Htuil KxrhiUlK'.
IJllKRTY AM)
H'-ibiuart-r4 f
ail iut'f. Liirtrt;
VICTOKV ltOIS.
r buyiiiK ami H-'Iliiih'
an
PAYMENTS
On rtci monlK buy nv Stock
or f)ond. Purchaser rt-rve
.inrwieiHta. W rite l. r viwwa
f list and booklet -FRfcli.
3 BPfiMiWAY,
r
I:
3
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