The Oregon daily journal. (Portland, Or.) 1902-1972, May 03, 1908, Image 24

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The Oregon daily journal., May 03, 1908, Page 24, Image 24

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Newspaper Page Textv: THE OREGON SUNDAY JOURNAL', . PORTLAND, SUNDAY MORNING, "MAY 3, j 1808: i 4m ' " T rOBTLAXD SHOULD TRY TO BECOME NORTHWEST, Y06L' headquarters M THEv.FIMMCIRl'' WORLD FUTURE -OF WOOL AND MOHAIR PRICES IS MUCH MYSTERY,TO THE TRADE Latest Market Reviews With the Trade i Ji r.lAKE A HI CENTER HERE Portland Best Located to ; Take Care of Sheep Cover ,',. lng of Northwest. ' Rv H-rman H. Cohen. - ' Portland la the logical location for ; the wool market of th Pacific north- " wait. -It 1 located doet to eastern Oregon and Idaho ofany of .the larg ' markets, ana who " f' , ; could very likely rival uoaion as a wuui An effort la betn made In eorn quar ' ter to make omana ine wuoi wom 1 the United State Instead of Bon " , at present it ia uniumu .V . in located much better than Boston. hen It cornea to wool, and that mucn money could be saved the wool grower! ; by banding- together and making the Nebraska city their headquarters. While Omaha la very finely situated, tt doe not have the location as does ' Portland. Here we have a city situated on tidewater, . from . whence ships can carry wool to any part of the world at a fraction of the coat that would be Involved In eending to Omaha or ' Boston, and paying an enormous freight -. charge on dirt and greeee that could Just aa well If not be better removed ' "portlanfl la closer '.to the wool center ' than either Boeton or Omaha, and with some little work thle city could be made the headquarter for the sheepmen Of Montana. Wyoming, Idaho and tliar Pa cific coast atatea. The locating of the ; big paoking planta at Portland would make the task of bringing the wool mar- : ket to Portland mucn easier than be fore the big American packer decided to open ehop here and make thla city their headquartera for the Pacific elope. BUr warehouses conld be located here, ' and would furnish employment to many men. The -matter of freight rata would - naturally cut much consideration in the making of thl city a wool center. With ' 1ta unexcelled transportation faclUtlea to the interior and it location at the " , bead of ocean navigation, the saving in freight alone would force thl city into ' the front rank of wool center. . . The making of Portland Into a wool center would likewise result in forcing J manufacturers to eatabliah woolen mills . and clothing factories : here. Even though the big eastern clothing manu facturers decide to stay where they are, the scouring of the wool her would moan a heavv savins' to them In the matter of freight, and It would likewise give the producer a c nance to Know jusi tvhat hi shrinkage amounts to. . , AXXOT GET TOGETHER. " Wool Bayers and Sellers : Still Un bl to Agreo Vpon Quotation. ' While the shearing season Is well lin ear way la every section of the Pacific - porthweat, but a vrf gmall portion of the clip has thu far been sold. In fact the sales to date ar the smallest for this period In many years. Buyers are Showing an inclination to hold aloof boeaus they believe they can buy for leas la this way. On the other hand growers hay their own view of the market ana are not punning tneir prod uct. It l likely that for this reason aione t most 01 tne wool in m pa cific northwest this - season will be bandied through the regular pools on smuks pay. -.: - The fallow Ins are . the ' days unon which the regular sales will be held in eastern Oregon thl eason; Arlington, Way, 23: Pendleton. May IB and June 8; Pilot Rock,May it and ' june v, Mappner,' May x ana June 11; Vale June 7 and June 28; Baker City. June 14 and July 11; Elgin, June 26 and July ; Condon, Juno 19; Bhanlko, Juno 2, 13 and July- (. i, MOHAIR STILL DROrTHKl. Bner Offer Low Price jwd Are Sot ' Anxious to. Bay Even Then. ' Two regular sales dates of mohair pools have recently passed " without a atlsfaetorr bid being received. . In both Instances the pools were trans ferred nominally to a member of the pool and another sale will be arranged later i when the ' aituation becomes clearer. The fact that there Is no de mand for mohair : around the prices quoted last year cannot be understood by moat sellera. Most of them profess to believe they will secure a better price than In 1907 but in this view they stand alone for conditions are entirely unalike. In the Open market mohair buyers are feebly bidding 18 and 18Hc a pound for tb product, out they do not seem to car whether they secure the supplies or not. This compares with the price obtained for the Dallas pool in. recent years as follow: 1907, 0o; 180, 80c: 1906, 82ttc; 1 904, tic; 190S, c; 1902. 25c; 1901. 22c; 1900. 29c; i899, 83 l-8c; 1898, tOftc; 1897, 21. It will thus be seen that the nrlees ruling today for mohair In a nominal war are the lowest offered by manufac turers In 12 years. It will likewise be noted that for 6 yeara the nrice of mo hair baa been annually showing a loss in this state. According to one of the larger buyers, the price of mohair a; this time la so low that it is indeed goot speculation. i -. .-. . - . :IS THE DAIRY MARKET. Creamery Batter Drop Was Expected . Market Is In Good Shape. ' The drop in creamery butter the past week was expected by almost every one In the trad deaplt the fact that the product bad been selling well at the higher figur. However, there was a Hunnsltlon to show weakness for any thing but the best known brands and it was the secret offerisgs of the little known ones at lower prices that induced the others to bring their prices down to 22 hie on May 1. This is the same figure to which tne market dropped a -ar ago and is likewise the lowest price reached during 1907. ' Already etorape operations have started at the r.ew price. - ' The cheese market Is showing a dis position to hold -quite well despite the eomewhat better arrivals. The market had been bar of supplies for so long a rrlod that the demand absorbed a larger quantity than had been believed possible even by the seller themselves. Kgga are firmer and in moat in stance H higher owing to the storage operations. the , larger demand and smaller suplies. Chickens held quit well in value dur ing the week although at times there was some dullness shown.' Efforts to bnoet the price again met with flat failure. This applies to th ordinary Tm. For broiler and fryers a scarcity Mill -exists end very high prices are ruling for these, spring ducks and tur keys. , .- -' - FRONT STREET RETTETw". ' Brief Note of the .'Trade la the Wholesale Markets During Week. Pressed meats suffered ' somewhat from the -milder weather at interval but the market did not lag much. . Hki'S ar showing a centinuanoe Of the movemont at low prices. ' Aitru wasTather alow In arriv ing during th 1 week and prices held c i. - ( n : ' -. oreaon airawberrle mad their ap-iau-' In. Hit market . during toe lattar nrnrt. rt th nilk. California I still holding up in price. Market for oranges la higher with advance In the south. Run of salmon in the-Golumhla la till disappointing but a fair supply is being received from tho Willamette. Prices remain high. Potatoes ara holding steady with - no increase, in' arrivals of new stock from the aouth. California and Texas Bermuda onions are in fair supply witn aemana . goou i and nrice .firm. Wheat wae firm the paat week with nrlees unchanged. The dullness con tinues In flour. , FYont street sella at the following nrices. Those paid shippers are jess regular commissions: araia, rloor ana say. FLOUR Eastern Oregon pvtenta ARK- atralrhts. IJ.JB: export. IS.4S0 tisA? valiev. 14.46: araham. Ul S4.1a: whole Wheat, ; rye, eua, o.ev; oaaea HAT lrouucera oric iiraomj, Willametre valley, fancjr 116: ordln- r njKonii: eastern urecon. mo 17; mixed, Ii0iu.6O; clover. il'OOli, grain, t ; cheat, t i; airaira. jizo ix.au. CHITTIM BARK 4 O c Butter, Tggu and Poultry. BUTTER FAT Delivery f. o. b. Port land: sweat oream. xic: sour. l9o lb. tiunuit iiixira creamery. iimc fancy. -xl 22 ttc; ordinary, tOo; store. e lb. . " ... EGQS Extra rancy, canaieq. I Lit 1Ti?EKSE Full cream, flats. 14 He: half skimmed. 18c lb; Young Amerioaa. 15H" per- lb; California Young Am ericas. 16cr flats, l4o lb. POULiTK i Mixea cnicaens. l4 14H lb; fancy hena. 14H 16c; roosters, bid, loa . per lb; fryers, I4.60&S dos; broilers, , 45; geese, old, fic lb; turkeys, alive, 1517o per lb; dressed, 1920o lb; squabs, 12.60 dozen; pigeons, 11.25 doaen: dressed poultry. ItilHc per lb. higher. ' ; Bops. ' Woo) and Hlaea HOPS 1907 crop. first prime. 4K06c: prima 4 He; medium to prime. 4c; me dium. 4o lb; 1 90S crop. ttOlVse lb; contracts, 1908. 08o lb. wuuir-iua wiuametio vauey. isw QUO,. MUHAiK 1U5 iNominai, i iittti HIDES Dry hides. ll&Ue lb: sale 4 a 6c; grofln, 1c leea: calvea green. I07o: kips. So lb: bulls, green salt. wrXHC ID. KEEFSKINS Shearing. iSOXOc snort WOOL Sect 4rc; mearjm. wood, (0c(Jtl eacn; lung wool, Ibcij ti ll each. TALLOW prima Dr ic. 30O4c: So. Land grease, lOtttfl. rrntts and Tetratabiatv : ' , POTATOES Select. 75c selllne-. buy ing, Willamette valley, 46 60o; eastern Multnomah and Clackamas. "''lc ner cwt; aweta, t4o; new potatoes, &c ONIONS Jobbing price, beet Ore gon, 14.60: aeconda, $4.00 4.26; Ber- muaa, per 50 lb crate; 6 orate lots. 82.66 crate: aarllc. 26c lb. APPLES Select, S3: fancy. 82.260 2.50' choice, 82 00; ordinary. $1.60. FRESH FRUITS Orange, 82.25 2.76; baranaa iUo per lb; crated. u; lemon. 81 4 8.60 box: grapef.ult, 82.60O 8:60: pineapples, $4 6 dos; tangerlnea, $1.25 oox; strawberries, $2.002.26 per 15 .box crate. VEGETABLES VTurnlps. new. 60 & 60e aack; carrots, 60c sack; beets, $1 sack; parsnips. 8Sc$l; cabbage, $1.60&2; tomatoes. California. ): Mexican. 82: bean. 18c; cauliflower, Oregon, 66(3)750 doa; pea. 6u6c; horseradish. 8o lb: ar tichokes. 50&76cdoi; green onion. 1260 dox; i-feppera, bell, 25c; Chile, 16o lb; hothouse lettuce, $11.50 box; head let tuce 26QiSOo dos; cucumber, hothouse. local, $1.001.76 dos; radishes, 16o doa. bunchea: rhubarb, Oregon, SQic lb; celery, ( j ; cranberries, eastern, $9.00 10.60; sprouts, 8o lb.; asparagus, Ore- fon, 8sjs6c dox. ouncnes; wana rvaiia, 1.60 box; spinach, 80"90o box. OrooaciM. STots. Ste. SOQAR California & Hawaiian Re finery Cube, $6.80; powdered, $8.66: berry. -66; dry granulated. 8.45; XXX granulated, $6.86; con. A., 6.45; extra B., 86.0C; golden Q., $6.60; D., yellow, $5.76; beet granulated, $6.25; bar rel, ISo: half barrels. SOc: boxes. 66c advance on sack oasis. (Above prices are to days nat cash (notations.) nujNc i as.sv per nsia COFFKB Package brands, $16.50. SALT Coarse Halt a-roumi. 00a $11.00 per ton; 60s, $11.60; table, dairy 60s. $16.60; 100s, $16.00; bales, $2.35; imported Liverpool, 60s, Sxu.ee: loosj, 19.00: 4a 18.00: extra fine van-eta, 2a a and 10s. 84.50tD6.60: Liveroool luma rock, $20.60 per ton. - than car iota. Car lot at special prices suDjeot to riurtuauona.; RICE Imnerlai Jauan. No. 1. c: Nn. 2. 5(S6Vc: New Orleans, head. IV.: Ajax.( ); Creole. 6 c hi KAN o Bmall wnue, 4.bo; largo white. $4.46; pink. $3.86; bayou, $3.86; Lima, $6.85; Mexican reds, 4fec. NUT8-r Peanuts. Jumbo. )c oer lb: Virginia, t a per lb; roasted, o per lb; Japanese, (34 08 He; roasted. IHo per lb; .walnuts, California, lae -er lb; fin nut. ioo per to; nicaory nuia, Oo per lb; brasll nuta, 16o per lb; fil berts, 15o per lb; fancy pecans, 14020c per in: aunonas. isa. steels, run ma xrrisions. DRESSED MEATS front street- Hogs, fancy. So lb; ordinary, 774c; large, big 6c; vei, extra, t4&9c per lb: ordinary. 8 per lb; heavy. 7 4i In tier lb: mutton, fancy, lie Der lb.: spring lamb, with pelt, 10 0 11c; with out pelts. 12 16c. HAtia, bajj, c i i-oruami psca (local) ham, 10 to 12 lb., 16o per lb.; 14 to 1 lb., 14Hc per lb.; 18 to 20 lbs., 14 Ho: breakfast bacon. 14 a 22c per lb; picnics, 10c per lb; cottage roll, llo lb; regular short clears smoked, 11 o per lb; unsmokea, iuo per lb; clear backs, unamoked, lOHc; smoked,-11 vc; Union butts, 10 to lxo lb; unamoked. llo per lb; smoked, lie per lb; clear bellies, unsmoked. 18o per lb; smoked. 14c per lb; shoulder, llo per lb; nlckled tonauee. SOo -wch. LOCAL LARD Kettle leaf, 10a. 12 o per lb; ts, 12o rer lb; 60-lb Una, 120 per lb; steam rendered, 10s, Ue per lb; 6a, llo per lp; compound, JOa, 8 o per. id. FISH Rock COd. likO lb: flounders. 6o per lb; halibut, o per lb; striped mm. ie ntr id: cainsn. ixo uer id: sal mon, Chinook.-9o per lb; steelhead. 7o per id; nerrings . o per 10; soies. 7c per lb; sbrimps. loo per id: percn, eo per id; tomcoo. no per 10; lobsters, ISo per lb.: fresh mackerel, 8o per lb; crawfish, 2 to per dos en; stur- eon. 1ZHO per id: oiacn oasa, xoe per lb: silver smelt. C07c per id; sturgeon, izho id; oiacx coa, i,vo jo; crsvps. Xl.00i31.6O dor en; ahad. ,e-aTO ahad, c; shad roe, loo lb. r' OYSTERfcVi-ShoaJwatei . , per rat ion 12 so: ter 100-lb saca. o.00: Olxm- pia, (fer gallon, SJ.40;. per 100-lb sack, 88.006(6.50: Eagle, canned. 6 Oe can; $7 doaen; eastern la anau, x.ie .per nun CLAMS Hardshell, pee box &,; rasor clams, 32.09 per box: loo per doa. Mats, OoeJ (ML Bta. , ROPE Pure mUilla. ISe; sUndard. lllic: siaml. 9M,o; L Jfei SlsaX 8c . Coal Oils - Iron Sbis. .caseav . wooo tsois. Water Wblte , 10 it Pearl Oil ....,.... Head Light 120 Eocene Special W.W.. i! o ; is"; .-) 11 is o ' : n aaain ....... ,..', Extra Star ... Gasoline, v . . , Iron Bbl. V. M. and V. Naphtha ...! Ho Red Crown Gasoline. ,..tiHo Motor Gasoline ....... ..16 Ho 86 per cent Gasoline , ..$0 No. 1 Rntliu nistlllate.. O Cases. . 19 H 22i,o , 22Hc ' S7tf l BENziJ4B-8 deg., cases, llfto per gal; iron bbls,12H per gaL - v TURFEN INS In cases. 72o per gal; wood bbla. !9o per gaL x , . 14NSKED OIL Raw, bbl 49c; case 66c; boiled, bbls 616; cases. 7o a gal; lois di iou gations 10 less. - WHITE LKAD Tes lots. 1Ve per lb) 6lb lots, to per lb; less lota 8 H. ' w 1 KB NA1LB Preaent bast at SS 1. Big Bill Tsft seems to hare taVn a bit out of aeverai favorite sons' plea SiRIS ME HIT BY FROST SCARE ' , - 7-. HessiairFly In Kansas Like wise Does - Things for Sellers of TOeat (Calted rress Leased Wire,) CHICAGO WHEAT MARKET. Open.. Close. May L Gain. May ......10J4 103 H 102 IVj July b 88H ept. 7 84 84. - Chicago, May 2. Wheat opened firm today. May led in strength but the new crop month participated to some extent, mere was mucn interest in the drift of new previous to the open ing and shorts were uneasy. May wheat a tar tea at irom ii.ux to xi.ux ana kept within tnose limits ror about halt an hour, then the fears of shorts overcatno tneir courage and tney increased tneir ory for what so few cared to sell, put ting in price sun mgner. juiy waa wanted at rretn aSo to 8o at the beginning, and that was a rise of from tic to c overnignc lieavy irost continued over an ex tensive area of the winter- wheat re gion and while the experienced agricul turalists maintained that only tne ef fect of frost now was to be feared the rank and file upon the floor were mad uneasy. Domestto receipts were still small. . ' . . Foreign markets were firm at higher prices, Budapest reporting. another 2 Ho advance in May and o in October. Hessian fly damage in all "of the best wheat-Droducina counties In Kansas was th reason -for a good deal of buy ing for July and September. There was a. rair amount or business done in corn at a material advance in price for this, month's delivery, and a more moderate gain for the later months. Weather was bad for planting operations and the Chicago elevator stock had fallen into handa that were likely to forward the ' grain where It was wanted. Liverpool was Mi high er for futures and Hd up for Argen tina corn on the soot. In the sam ple market offerings met ready, sale at from rTiaays-price to He better. Stocks of iftita in store having now fallen Into the possession of the' peo- ?le who would move them out and sell hem for consumption, there was more interest taken in tne trade by many who had been holding the 'floor for montha Th market was firm, even for new crop futures. The old July de livery taking the lead In a moderate advance., The demand for hog products received check at the opening on account of the comparatively heavy run of hogs in the weal Effect of that waa not very lasting, however, because of the dimi nution during April of the stocks in store here. Cash sales: . Wheat No. 2 red. ll.OStt 01-06; No. red. 97c$1.04; No. 2 hard. Sl.OlUtfe 1.09: No. 3 hard. 97ceil.0B: No. S spring- 99c 0 81.11. . Corn No. 8 white. 67 He: No. t yel No. 4 low, 78c; No. 4 white, 64e. Oats No. 8 white, 62(B8e; white. 50(261c; standard, 63c Range of prices: WHEAT. .Open n. High. Clo, May July Sept. May July Sept. May 104 V - fir CORN 64 H 62 0AT8. ' 63 454 874 103 89 84 UK 68 64 62 62 2 68 46H 37 63 45W S7 63 464 87 V& July Sept. May MESS PORK. .1310 1316 1310 .1330 1360 1330 .1367 1377 , 1365 1810 1340 1272 July Sept Liverpool Wheat Market. '. Liverpool, May 2. Jul wheat': Closed at 7 6H4 a net gain of Hd. Tacoma, MTieat Market, Tacoma, May 2. Wheat, export, club, 84c; bluestem. 86c; red, 82c. WEE1&Y STATB3IENT OF NEWYOKK BANKS New Tork, May 2. Bank statement: Members' dally average cash reserve. 29.95 per cent. Reserves, Increase ;....$ 3, 368.160 Lea U. S Increase . , . . . 2,838,375 . 63.000 Loans, decrease Specie, Increase Legal tenders. Increase ...... Peposlts, Increase ........... 8,306,900 1.776,100 8.866,400 1.116,900 u.ivuiauuii, uo.idon ...... . 1,110,8 i Members' actual cash reserve, 29, per cent 80 Reserve, decrease ..... L4ss TJ. S., decrease . . . Loans, increase Specie, Increase Legal tenders, decrease . Depoeits, Increase Circulation, decrease . . . Non-members: Loans, increase Srecie. increase $ 925,600 .1809,025 6,382,400 2,897.000 832,700 13,959,800 1.721,900 14,856,800 170,700 494.500 Lgal tenders,, decrease Total deposits. Increase Total deposits (eliminating 94.409,400 other banks and trust mm. V panles in New Tork CityX, Increase .... 12 873 100 Aggregate reserve on deposit, ' iUli VHDB . .... 11 ISO 600 Percentage of legal reserve, si.so'per cent NEVADA MESTSa STOCKS. Bid Prices on Ooldfleld, Tonopah, Aiannattan and Bull Froif. Ban Francisco. May t. Noon closing GOLD FIELD DISTRICT. . Sandstorm 26e' TtA t n. iriz lvimbia Mt 24c. Jumbo, Ext 80c.- Silver Wirt ! OAn TJ1 T),.ii. n a at " w . . Si ? j",".111. zc- Atlanta 24c. Great Bend 41c. Florence 23.82 M. Diam. B. B. Cons. 19e. Comb. Fraction 65c, F. Mohawk 16c. Red Hill 26c. Lou pillon 8c, Yellow Tiger 10c, Yellow Rose lc. CoL Mt. Ext 1c, Goldf. Cons. $67 j BULLFKOQ DISTRICT Llge Harris lo. TONOPAH DISTRICT. Ton. Nevada J8.20, Ton. Montana IK, MacNamara SOc, Ton. . Belmont 21.20, vu. kuuii oijf no, jim miliar boo. MANHATTAN DISTRICT. Little Joe lev . Granny 6c, Jumping SCATTERED ' DISTRICTS. Neveda Hills $8.40, Pittsburg Silver Peak 81.07H. Eagles Nest 80c. BOSTON COPPER MARKET. Boston, May 2 Official bid price: Adventur IttlOlroux 81 Alloues 26)016 Dom. 104,Oaceola . 86 88 80 Atlantic CaL. Hecla.640 Cop. Range:. 68 enannon ..... 12tf Daly "West... Tamarack 69 Dom. Con., Victoria 1 W'lnoma ...... 4 Wolverin ,..125 Butte Coala. .28 TTnftenl Pun. . .. IU C. Ely . .... Gold Hill.. Greene Michigan Monawa 47- JTrlnlty itC No. Butte.,,. 69 (Parrot 19 Nevada Con.. llHlNipplssIng Yukon Gold Shareg.' New Tork. Jfay J-Yukon fJold nn th curb: .Open,. high, low and close. 4. HIGH RECORD FOR. THE YEAR . 2' fgum sisji as 1 1. 1 ., 'V' ?''.'!.:, 'J'"V- Securities Sell at an Advance With Much Cohering of ; "Short Interest. By Thomas C. Shotwen. (Hearst New by Loosest Leased Win.) New Tork, May 2. New high ords for the year were mad In Wall street today by the leading stock In a trong and fairlr active market. Union Pacific,' St . Paul and the steel ah area were kept at the front while Smelter alao forged upward. ' The covering - 1 due entirely to th desperate situation of brokers who have sold their custom ers stocks. It was believed on Friday that all trouble of thla kind was over; but today four more firms suddenly began frantlo buying and the end ap- pa rent! y Is not yet. just before tl th close a oroflt-taklng movement net in, - in close,. nowver, was very strong and with net profit showing in nearly all issue.. ( , ionaon was xairiy ateaay. One faotor making for hlaher nrlees in addition to th covering movement in atocka was th filing by th aouth eastern railroads of tariffs effective May L increasing -freight rates on meat. . Rates have alreadv been in creased on soap and it is understood that this is th beginning of a general movement. - Rail Make Good Gains. (Colted Press Leastd Wire.) New Tork. May 2.-Thls week's finan cial movement has again exhibited the peoucie oi prices rising upon me tock exchange in the face of unsatis factory reports concerning the state of general irada. 10 be sure, the advance in stocks has been far less uniform than it was the previous week. The leading railway shares have made sub stantial gains, while the' leading In dustrials as a rule have lagged behind and the hesitation in thl latter group Is sufficient . to show that the -failure of outside industry as yet to respond to tne improvement in llnancuu circles is being duly recognised. Nevertheless, the current week, no lesk than the week before, can only be. interpreted to mean that financial cal culations are based not on trade condi tions as they are today but as they ar bxpected to be In six montha from now. In other words, our financial leaders, and with them their shrewder Clasa of investors, are confident that however painfully slow progress may be, the country' business la on the upgrade and that, barring checks upon the movement, which do not at the moment seem probable, we shall within a rea sonable length of time reenter a season of activity and plenty. Meantime, it is doubtful for the Im mediate future whether the export of frold will continue. Th arriving Amer can gold has already , sufficed to de press money ratea abroad to the pre vailing level en this side and the main incentive to the movement is therefore done away with. It is the technical side of the stock market, however, that has been the principal consideration in this week's dealing. The failure under sen sational "eiw-umstmie .tnvolialeg i two comml3toir firms," with- a'f gp.u'ta'ttota as noted hoiaia. liia a I una wlfHther err, cumstances led" to' the belief that it 1 the run-in -of -fiarrtf inter t-tn' ore distress whictl,JfaMansed a good part of th recent advance. This may be en tirely true, yet the more Important fact must also be borne In mind that no market could respond the way this one has to mere "short" Covering, unless it - were in a condition where stocks were being strongly held. In other words, it is apparently true that not only did "Investment absorption go to S re at length last autumn and' winter out that a very smalt portion only of these holdings has come out on the rise since then. Consequently., the supply of stocks available for speculative purposes still at a much higher price-level is com paratively, limited. Rang of price: DESCRIPTION. AmaJ. Copper Suarar CoL Fuel aV Iron Brooklyn ...... people s uas . . TT O mam U. S. Steel, pfd Atchison B. AO. ........ Can. Pacific... Erie .......... Louis. & Nash.., Mo. Pacific... Pennsylvania . . Reading ........ Rock Island. v... S. Pacific , St Paul Union Pacific... Am. Smelter.... N. T. Central. .. . Northern pacific Anaconda . t . . . . Southern Ry,.., Rock Island, pfd. Chen, ft Ohio.... Smelter, pfd.... Great Northern.. Wabash, pfd.... Soo, e Am. Locomotive. Central Leather.. Norfolk ........ Ontario Cotton Oil Federal Smelter. Am. Woolens. . . . Total sales, 416,800 share,. 6PQKANE MIXING EXCHANGE. (Furnished by Downlng-Hopklns com- twnjr, DKmimi BDvasne exenanga.) ' Spokane, May 4,-Offlolal prices: Bid. AsK. Ajax Alameda . Al ham bra Alberta Coal A Coke Am'n Commander , Bell . Bullion , ........... Chas. Dickens .... Can. Cons, Smelter..., Copper King ......... evolution Echo . ... Gertie Granby Smelter Hecla Happy Day , . Holden uold & Cop., . . . Humming Bird Hypotheek Idaho Giant International C C... Lucky Calumet ...... Missoula Conner ' . . Mineral Farm Moonlight . Nabob . , Nine Mile ...... o. K. con. .............. com Paul fannanaie emeiter Park Copper Kambler-Cariboo , ,. Reindeer . ... ....... Hex (i to 1 Monora Snowstorm .ig Kuuivan Bonds jjii Tamarack A Chea. . - naia--i.oo0 Missoula at mini mm 60 611, 60 54 60 26)4 2B4l 24H U , 47 47 46 46 89 90 89 90S , 36 86U S 8614 . 101 101 101 101 81 81 80 81 S7K 88 874 87 166 166 166 166 18 18 18 18 106 107 106 106 47 49 47 48 120 121 120 121 110 110 109 109 IS 1 16 15 91 81 81 81 122 182 181 121 187 138 lS7ll39 71 72 71 I 71 " 101 1024 10lt4 ltlfc. 138 134 IS2 138X Sf 38 87 37 16 16 15 16 33 32 3 38 36 88 96 96- 128 123 18 19 18 19 113 ,;iia 47 47 ..!!. p '.'.V.'. !!!! 20U 1 T 'I 9 14 ...... 3 M 9 i ,14 6 6 10 4V4 8 ...3 4 Z 5 .... S 6 ::: 1 I ...66 . 74 f 1 .18 10 "11 - 1 3 $ ' : l llIX ... 10 13 IT : . . 1U. if I W ' . r THE MODERN Will Front Street FRONT. STREET WILL HAVE TO CHOOSE THE By Hyman H. Cohan. It' up to . Front street merchant whether tbey shall take their country hipper and ouatomer into their full est confidence or whether they , will continue the old way of quoting. - ine majority or me country snipper In the state of Oregon have indorsed the Portland board of trade .hut front street has thus far refused to take hold and conduct its business as It is eon ducted in every large city of note in the country. Transactions on a board of trade are always made in the open and anyone member can either buy or sell. ir tney deem the price too high they can sell the goods they , please while if WINDS DRY GROUND AND RAINS ARE NEEDED Th wheat orop of the Pacific north west received a small amount of rain in most section this Week, although in a few districts th one whloh did not need It very badly th downfall . wa quite heavy. . Acoordingto special ad vloes received by Th Journal, th section from waua waiia to Eureka Flat la still badly In need of more molatur although mere nas Deen no aamage as yet oe- PRODUCE IN SAN FBANCISCO. Potatoes ,-Are Weaker and Oregong Are Selling Down a Notch. San Francisco. May 2 Butter Pr pound, California' fresh extra. 28c; Tirari xiiap innnnsi v 1 lrsts. 22c; seconds, 21c; packing No. 1. 19c; packing No. 2. 18 ic; pacKing no. j, ltfto. Eggs-Per doaen. California fresh. E(rrs Per doxen. California, froah tn. ciuain inr cases, extras, 81c; firsts, JOc; nda, 16 c; thirds. 16c. - " eese New, per pound, California seoon Cheesi PORTLAND RAILWAY, LIGBi AND POWER COMPANY ONE YEAR, SIX PER CENT, GOLD NOTES Dated May 1, 1908 Due May 1, 1909 " Interest payable November 1, 1908, and May , 1, 1909, ' at the office of SECURITY SAVINGS & TRUST COM PANY, PORTLAND, OREGON. ' Coupon Notes of $1000 Each Both Principal and Interest Payable In Gold Coin. . Total . Authorized Issue $2509000 .. . Secured by deposit with the Security Savings & Trust Company, Trustee, of $375,000 Portland Railway, Light & Power Co sinking fund mortgage, 5 per cent bonds. - These Notes are' amply secured, -yield an excellent rate, of interest, could be quickly converted into cash at any tirai prior to maturity, and af ford a particularly safe and attractive short time investment. - We have already sold the greater part of this entire issue and suggest ' to prospective purchasers that they place orders for the same with us as early in the week as"possibIe. ' ' ' - , ; NOTES NOW READY FOR DELIVERY. PRICE PAR, AND v . . INTEREST. Full particulars upon MORRIS BROTHERS CHAMBBR OP COMM ERCE WAY. OP TRADE. i;it;i: '"HreViHH: ..K.ii;: Go Back on Old Methods?; PATH TO FOLLOW they feel that someone la bearing the m&raei, tney can ouy ana ouy until tn other fellow Is forced to quote a figure that will truly reflect th actual con ditions of the market. . The country shipper will find thit It will be easier to transact business through the board of trade and will re ceive a quotation that will be a fair one at the time of selling. If the markot is glutted at the time of offering th Product the price received will show 4t f on the other hand there are scant holdings the price will be correspond ingly higher. In any event it will b made with competitors on- everv side In a word, the board of trade way of quoting will give the country shipper a square deal in every instance. IN WHEAT BELTS cause weather conditions have been mild. In the Columbia southern terri tory, and around ''Prlneville. , Shanlko and Biggs, the wheat needs rain very badly. ' The cold spring did not deter the crop to any extent but the heavy winds of late have dried the ground. In that section the crop looks about three week later than usual this would put the passing of the wheat , from dough to solid grain In a period of hot . weather. flats fancy, 12c: first. 12c; seesnda, 10e; pallforpla Young America fancy, 18c; firsts, 18e; ntorage, eastern fancy Na Yorkvl4oi.OrM l4o Potatoes Per cental. Lorn poos, 91.1 S 91.35; Oregon Burbanka, 75c 'gi $100; river whites fancy, 40S6c; , new pota toes, 1 tj 2c per npunit- Onions Bermudas, 31.R0if3.O0 per crate; Australian Brown, 35.00(95.50 per crate; red onions, per sack, 33.J0. Oranges Per box, navels fancy, $2.60 3.76; standard. $2.002.25; tanger ines, $1,60 3.00. application. SHEEP CHEAPER . Ill .THE YARDS Slightly HeaTier Runs Add , Weight to the Marked Hogs Advanced. PORTLAND LIVESTOCK RUN. : Hog. Cattle. Sheep. Past week 1907. ..... 412 658 248 2,668 860 2,688 1906.... ,416 J.SUP. , ; ,683 1,289 ' By Hyman H. Cohen. Portland Union Stockyards, May 2. There were Increasing receipts In th sheep market during the past week, and thi had the effect of pulling down price ZSoj ! through' that lino, While th increase over a week ago was not heavy, the fact that better arrivals at hown wa sufficient in itself to put th market downward. 1 Buyers hav contended all along that the price of heep ha gone beyond a reasonable basis, but in thisthey were mistaken, the matter of supply and demand regu lating at all times the price. With tne shearlrrc season in . full fast the arrivals to date this season do " not compare with those received during th aUerlng of 1907 or 1908. -. Soga Oo to Klgher Irolnt. - The hoa market advanced to a hlaher point during the past week on account of the small run. The fact that but eight bead were received in the yard during the previous six days added considerably to the strength of the mar ket this week, when arrivals were of a very -small nature." Best hogs struck the top very solid at 36.60. and most sale of select quality were made at thia figure. Some that were slightly off sold 1 60 lower than that but oven this price wa fractionally Increased over the figure of a week ago. ' Cattl Are X14 Back. With 'the knowledge In their mind that killer were about to out the price of csttle a fraction lower if receipt became a trifle better, cattle-shipper held aloof from the market during the week, and the totsl arrivals for the six days were but 18 head, a small run for even one day during times of. activ ity. On account of the small showing, ? rices wers held very firm, but the one of the market waa dulled some- A year ago for thl ame week there wa a gradual change in the tone of all lines, and trading, Instead of being brisk and at top figures, was somewhat easier, with every tendency toward low er values. Official yard prices: Hoes Beat stuff. 66.364M.60: China fata, 16.004f6.26; feeders, 6.60(gi6.76. R.!6; fancv, $5.00; medium, $4.00a 4.60: beat cows and heifers, 34.004.6; medium cow, $3.60S.75; bulls. $1.60 8.00; atags, $8.004.00. Sheep (sheared 7 Best wether. 34-76 ?6.00; spring lamb-weighing; 76 pounds, 36.00f6.60; ewes, I4.2S&4.B0; mixed, $4.60.76. . SLOWER TONE IN HOGS. Eastern Market Opens All Right bnt . Closes. Sc Lower. ' Chicago, May $. Hog. lSiOOO;- cat tle, $00; sheep, 8,000, Hogs opened at yesterday's average, slows' left-oiter yesterday. 2788; light $5.S5ff 6.80; heavy, 3S.866.82; -mixed. 6.869.5; rough, 36.S54p6.65. Cattle, uochnaged; sheen, steady. Hog closed, ficvlpwer. Cattle steady. Sheep weak v f Kansas City, May 3. Hogs, 5,000; cattle, 600; sheep. 1,000. ..... Omaha. May 2. Hogs, 12,000; tie, blank; sheep. 10.000. cat- X X r X X I. s. . k vi iiw oiewan t 86C, 4 J: