v:
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: