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THE OREGON .SUNDAY. JOURNAL, PORTLAND. SUNDAY MORNING, MAY 10. 1908.
13
HOP SHORTS ARE. VERY
MUCH INTERESTED" UST
NOW, IN THE GROOVERS
- - i.j ,
Latest Market Reviews,
J-.-A - .
m the .wmmiM,. world
"WHEAT PRICES 'HIGHER'
EVERYWHERE FOR , THE
PAST WEEK CROP GOOD
VJith the Trade
1
MOP INDUSTRY
AT THE
Decrease .in Production, Is
Only, Thing That Will
f : Help Prices to Rise. ,
-..-By Hym&n H. Cohen. - 4
Under present condition there is no
future for the nop inaustry of Ore
gon and the rest of the Paclflo coast
states. Acreage is fully twice as heavy
an- the demand Justifies and until the
acreage Is brouRht down to the basis
where supply and demand will meet,
th condition will be against the pro
ducer. . .
,'. - A year ago Oregon had over 30,000
acres planted to hops, while this sea
son, even with the cutting out of about
6,000 acres by plowing, the production
nnnniu. to bt f ullv tin to that of a year
ago. There are two reasons . for this. J
First: The fact that practically an
Of the acres that have been plowed up.
does not bring down the production
2l).u0 bales, because practically all
these flowed up yards were old ones
and of late yars- have shown very lim
ited production even under the best of
cultivation. 4 ' ' ' '
Second: A Urge number of new
yards will come Into full production for
the first time the present season. This
extra production will be almost equal
to the plowed acreage output in recent
seasons. , "
Of course mere is consiuoraum cn-
or course inert i. "-'"-"--"r.
?,op."K,iu """rB, ..of the
vu.i..i.w . . -
uu Inoi nrlci ThM. VflrdS Will Pro-
duce hops, although the output would
not be nearly as great as If (thoroughly
cultivated. A large per cent of theso
rards may never be strong, and even
hough tne vines have been tied,
large per cent -may not be gathered be
cause of the unprofitable prices that
are promised. "
Here Is where that good friend of
the hopgrower. the short seller, comes
In. At this moment, while the short
seller is anxiously engaged in selling
brewers nil the hops they can possibly
buy at 9 He a pound f. o. b. cars Port
lands they are just as anxiously trying
to boost the present market. This lat
ter they do for two reasons.
First: The shorts have 'already sold
a vast amount of hops of the coming
year's crop to brewers at prices ranging
from 9u to 16o a pound. If the prlow
of hops goes too low, or if the brewers
believe tliey can secure them at lower
figures, the chances are that they will
hold the seller very close to the con
tract that ne must deliver
choice hop If he contracts for that
grade, or a strictly prime hop if that
grade is purchased In advance by the
beer maker. In the matter of hop
frrades there is more fake work than
n, all other lines of farm products com
bined. What one dealer would call No.
1 choice shipper another would call a
second grade prime. This would enable
the brewer to get out of his contract
If he saw fit. . ' ,
Heromi: If the growers do not take
cure of their yards, string, spray and
..tv,.. thm thA short seller finds
himself in a position where his profits
will be cut down. If the crop is not as
great as he had expected it will force
him to pay a higher price in order to
cover and this is the reason why he Is
so anxious to boost ,rt 8 pnepot hops
at the- moment. ,
In view 'of the fact that very few
hales of hops remain in first hands in
4- or,i a iir.i! ner cent of these
..mint ho nurchased as long as the
V...11 n..omnt urA higher prices con
.iJ.."'i.Z i. ..r. In tslkms: hleh prices.
o., ci.in. thaii offers OS reports of
a better market and higher prices, the
short sellers who are temporal? uun.
will cinch two bargains. They will
th iinwilllnsr erower to cultivate
spray and mortgage his yard in order
to secure picking money for the crop,
and he will cause the brewer to believe
that he nan securea a imisnm m i.s
hops short. . . .
Just at the moment the shorts are
engaged - in this boosting matter and
they are organized so well that although
many of their alleged transactions may
be false, none can fully prove It. as
growers who sell are cautioned not to
state that the hops were purchased at
a lesser figure than reported by the
short. This agreement is generallv
quite eas to secure, for what one
grower likes to do better than his neigh
bor Is to sav that he secured a higher
price than the aforesaid neighbor,
with that nrohihlton movement widen
ing the territory of local option, the
amount of beer consumed is not so
great ss It was a few years ago. The
latest figures of the government, show
that during tne montn oi jnarcu, iw,
h xnnanmntlnn or oales of beer to
taled 4,152,846 barrels compared with
4.647.067 barrels, for the earns month
In 1907. This in Itself shows a de
crease of 494.221 ..barrels. This is the
first serious decrease In the sales of
beer for some time.
With a smaller beer sale.lt Is quite
easy to presume that there .will be a
- snmltPT amount or Traps treetteu. jsven
.with the consumption of beer at ree-
ord-bresklns figures a year ao, there
was fullv a third more hops grown In
the world than were needed. With
smaller beer sales the increase In pro
duction over consumption will be fur
ther Increased.
EGGS CLIMBING HIGHER.
Increase In Demand and Deceased
Receipts Put Prices Up.
' Eggs are climbing higher because of
the greater demand ana smauer sup
plies. During the week there was quite
a large decrease in the arrivals and
when this is true demand is always
showing an increase. Storage opera
tions are again on, but the input Is not
heavy because some of the, dealers still
persist in believing they will secure
stocks at a lower range..
Chickens ruled very steady along
Front street during the past week, with
arrivals Just fair. There was.a small
increase in the arrivals of broilers and
fryers, but. the demand was fully sus
tained even at the high prices that
continue to rule.
Creamery butter Is very firm since the
recent drop to 22 c for city creara-
. eries. The production Is showing an
Increase, but orders from the north
have enabled the makers to sell more
butter than thev are producing Just at
present. Cold storage operations here
., are still on a very small scale,- but
When they start in earnest the makers
believe the market will advance. .
-Cheese Is being sotJght by the north
and for that reason the heavy Increase
in production has caused but a slight
decline in the ruling; price .here, v -
WKEAT SUPPLIES ARK SMALL.
Small Stocks Remaining on Pacific
'- Coast Price Is Advanced.
"Europe nd California have drawn
upon-the Pacific northwest for such
large supplies of wheat this season that
1 available Supplies here are very small.
: During the past week the price ad
vanced several cents on- the- board of i
trade because of this condition and the
higher prices in un-icago ana in fu
rore. Available supplies in California
are also very 1'kht anrth trade here
is inclined to the opinion that the south-
; ern stale will come Into this market
"-for wheat before the new crop is ready
for market, ' . .. ' , ; . " " ,
f There Is no Inclination to buyf flour
b-y the Japanese at .this time andthe
" only business now available is 'from
China, whoHO wants re not very heavy.
A few sms U norders for flour were
.landed during the past week bv min-
'tm who wcrln.-d prices in order to
getmlUcdi to fill their contracts.
GREEN APHIS EATS !
- : EARLY; PEACH, CROP
- Pendleton, May 9 Green aphis
.which has never been so prev-
alent before In v Umatilla county e
has destroyed about on naif of 4
w the early peach crop In the Free- 4
4 "water-MUton district this spring. 4
4 Heretofore the aphis - has, con- 4
4 , fined Its work to. the leaves of 4
4 : the trees but . this year the bloom 4
4 and young f rutt have been at- 4
4 fected and fully on half of the 4
4 yield. Is believed, to have been 4
4 destroyed by its ravages. The 4
4 remaining half of the cropprom- 4
4 , lses to be excellent The berry 4
4 yield Will be extraordinary and 4
4 ripe berries will be picked from 4
4 the Milton-Free ater fields by 4
4 I May 15,' ,.'.', 4
4 '
While they are not .making any money
on their flour, the profits on mlllfeeds
at the present high level are sufficient
to make tne business or surncient im
portance to go after. ,
FRO XT STREET REVIEWS.
Dressed Meat Prices Are Hit With
, Larger Supplies During Week.
Dressed ' meats were hit hard this
week because of the greatly Increased
arrivals. This occurred earlv in the
week.
Bun of salmon In the Columbia Is still
small, but a fair catch is reported rrom
the Willamette.
1. Shad wppM" very liberal at this
time and the price Is lower.
Strawberries from local points are- In
somewhat larger supply and with Im
proving Kiallty. Prices are lower In
consequence. The flret -carload ship
ment has likewise arrived from the
south.
Potato market Is quiet, with ship
ping orders flhowtng some decrease to
the southwest. California business re
mains good :
Onions were scarce in the Front street
markets during the week because of
the non-arrival of California ship
ments. Local garden peas are arriving from
The Dalles and will soon force the Cali
fornia stock out.
Oranges are scarce and higher, but
seedless are expected to arrive the
coming week and will sell -fet lower
prices.
Front street sells at the following
prices. Those paid shippers are less
regular commissions:
drain, nour and Ba?.
WHEAT Board Of Trade Club,
89c; luestem, 91c; red, 86c; Willam
ette valley, 89c bushel.
r'lj i. t--i. ii. Oreiror. r""""'
4.65; straights, $3.85; exports, 1 1.45
I3.S0: valley, J4.45; graham, s. 11 1'.;
whole wheat. $4.40; rye, 60s, $5.60; bairt
HAT Producers orlce Timothy.
Willamette valley, fancy tlB; ordin
ary. $12.6019; eastern Oregon, tl0
17; mixed, $lO01U-te; clover. ,S10t 1 1.
grain, (); cheat, r alfalfa $1112.
BARLEY Board of Trade Feed,
$t4.60: rolled, $2728; brewing, $26.
OATS Board of Trade No. 1 white,
$27.60a2ft; gray, $27 per ton.
CHITTIM BARK 44c
t Batter, Egg's and Poultry.
BUTTER FAT Delivery f. o. b. Port
land; sweet, cream. 21c; sour, 19c lb.
BUTTER Extra creamery, 22 ftc;
fancy, 21tt22Hc: ordinary: 20c; store.
18c. ' .
EGGS Extra fancy, cjndled, 18
18Uc . tn I
EESE Full cream, flats, J 4
half skimmed, 13c lb ;-Younir Americas
16 He per lb; California Young Am
ericas, 15c; flats, 14c lb,
POULTRY Mixed chickens. 14
144c lb; fancy hens, 14V4rjil3c; roosters.
old, 10c- per lb: fryers, to2Cc lb;
broilers, znwif&c lo; geese, old, Hftflc lb:
turkeys, alive, 1517u per lb; dressed,
19f20c lb; squabs. $2.60 doxen: Dleeorm.
$1.25 doienr dressed poultry, llc
per io, niffner.
Bops. Wool and Hides.
HOPS 1907 crop, fflrst prime, 6Hc;
prime, to; medium to prime. 4c; u
alum. J4c lb: 1906 crop. iHc lb:
coniracis, ius. iie id.
WOOL 1908 Willamette valley, 12
12c.
MOHAIR 1908 Nominal. 18c.
HIDES Dry hides. 12sil3o lb: salt.
4 woe; green, ic less: calves, green,
6 0i 7c; kips, 6o lb: bulls. green-all,
IKfflHC ID.
8KEEFSKIN8 J?hearlng. iBl0c
acn; eiiort wool. Sc4k:: meal-jm.
wood, 60c $1 eecn: long wool, 76c
$1 26 each.
TALlyOW Prime, pet 1U 3c 4e;
Mo. J and grease, SOSHe.
Truhm and Tegrtablea.
POTATOES Select 75- xelllnr- hnv.
Ing, Willamette valley, 45960c; eastern
Multnomah and Clackamas, e-'toc per
cwt; sweats, S&fMe: new potatoes, 6c.
ONIONS Bermuda. 32.76 uer 60-lb
erate; o crate-lota: 18.65 crate: Varilc
mudo, (2.76 ner 60 lh crate: S crate lots.
$2.65 crate; garlic. 26o lb.
APPLES Select, $3: fancy. 12.25
2.50; choice, $2.00; ordinary. JL50. .
FRESH FRUITS HnncM IS.OOA
$3.60; bananas, 6j4c per lb; crated, c;
lerr:ori, $2( S.uO box; grapeKtuu i.60tl
3.60; pineapples, $4.505.B0 doir-strawberries.
California, $1.601.76 per 16-
uux craie; urepon, JtC DOX. .
VEOETABLES Turnios. new. 60060c
sack; carrots, ( ) sack; beets, $1 sack;
parsnips, t5ep$l, cabbage, $1.60 i;
tomatoes, Florida, $4.254.i0; Mexican.
$2 beans, 12H 16c; cauliflower, Ore
gon. 60ffi)76c dos: peas. Oreaon.' 8 10c:
CaJIfornia, 6 6c: horseradish, 8ldq lb;
arvicnoKes, avttvi be ooi; green onions,
12 He dos; peppers, bell, 26c; Chile, ISo
lb; hothouse lettuce. $1(31.60 box; head
lettuce, 25fJ30c dox: cucumbers, hot
house, local, $11.75 doz; radishes, 16c 4
uoz ouncnes; rnuoaro, Oregon. 24(W3s
celery, ( ); cranberries, eastern. $9.00
10.60; sprouts, 8c lb.; asparagus, Ore
gon, 70fj'i6c dos bunches; Walla Walla,
).V'' px; spinacn, autfsoc dox.
Grooeries. irate. M.
SUGAR California & Hawaiian Re.
finerv Cube. 38.80: nowdered. 38 K6:
berry, (.56; dry granulated, 6.45; XXX
granulated, $6.45; conf. A., $6.46; extra
D.. I8.0C; golden G., $6.60; D..' yellow.
$5.75; beet granulated, $6.36; bar
rels, . ISc; half barrels. $0c; boxes, 6 Co
ha vance on sack osjtla.
(Above prices are Is dave net eaah
nuotatlona.)
honki-S3. so per crata
COFFEE Package brands, $1 $.50.
RALf C'larae Hlli uraumi. inOa
$11.00 per ton; 60s, $11.60; table, dairy
60s, $16.50; 100s, $16.00; bales, $2.35;
imuarvea -Ajverpuot, eve, ixw.ewt
$19.00; 4s. 18.00: extra fine varreis, t.
u end 10s. I4.5ttfi6.60: Llveroool lumb
rock, $20.60 per toa -
tnaa car tots. i;ar iota at special prices
subiectto fluctuations.) -J
RICE ImDerlal J a nan. No 1. C No.
2, tt5c; New Orleans, bead, c;
AJax, f ); Creole, 6c ,
BEANS Small white, $4.66; large
white. 34.60: ' Dink. 33.85: barou. $3.85:
Llmas, $6.86: Mexican reds, t ).
zhu i o- reaouia, jumoo, ic per id;
Virginia, tlto Ler lb: roatl to
per lb; Japanese. t (6 He; roasted, IUg
per id. wamura, uaiuornia, io -er to; '
fsc'pe b: bSsirJutS-l&Ib W!
berts. lte-per lht .fancy pecaos. l02or
per. lb; almonds, 16o- : ' , ,-v.t ; -
-kUttt, riia d jTovbiSons.
DKiiSSED MEVTi-rronF'strMW
Hogs, fancy, to lb; ordinary. 7 k 7 He;
large, 6 if 6c; veal, extra, 7ft So "per
lb; ordinary, - ?c per lbs 1 heavy,
V47c per lb; mutton; fancy, ' loc
per - lbt spring lamb. - with pelts, 10a;
without pelts, 11014c, V
It A MS. - BACO.-v, H't O Porllan.! peek
(lotal hams, 10 to 12 lbs., lis per ilvi
TRYING TO MAKE
' - - ' END OF
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Ij i V' 1 , , - K y L f 1 J 1
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V
B.
Of all the men who are trying to
land board of trade a success, W. B.
name, Is leader. Mr. Ulafke is
and his attendance during the Bessidhs have been regular.
WOOL BUYERS AND SELLERS
ARE DRIFTING FARTHER APART
By Hyman If. Cohen.
Wool buvers and sellers were novor
farther apart In their views ' regarding
market co;!ltions than at this time
There Is a disposition among thp woo!
trade In general to lay low until It is
14c:'set'n Just what it to transpire. Manu
facturers continue to buy sparingly In
the etist and tlm values there nro about
on u parity with those ruling In this
market.
The dullness hero has caused some lo
cal shippers to Bend their supplies to
the tKi iu the hope of a bettor market
but in this movement they are likely
COAST WHEAT CROPS HAVE A
BETTER APPEARANCE FOR WEEK
The condition of the wheat crop
throughout the Pacific northwest has
not been muterluU.v changed. Some sec
tions received a fair supply of mois
ture during the Week but nowhere was
the rainfall heavy. The growing crop
of fall wheat Is in fine condition and it
is not likely that It will- suffer--for
water. However, in some sections there
is still a cry for rains to aid the spring
sown grain. .
in California conditions In the entire
grain country have a better appearance.
The late rains there have been a .won
14 to 16 VbS.. 14C per lb.; 18 to 20 lbs.,
14 Vic; breakfast bacon, Hiti2o per
lb; picnics, loc per lb; cottage roll, lie
lb; regular hort elears nmoked. J 1 Vie
per lb; unsmoked, 10 Ho per lb; clear
hacks. . unsmoaed, lOVtc. smoked. 11 fee;
Union butts. 10 to .Uu lb; unsuiukvd,
12c per lb; smoked, 13c per .b, clear
bellies, unsmoked. 13c per lb, smoked.
14c per lb; shoulders, Ho per Jo;
pickled touKUia, uo -sob.
LOCAI- LARD Kettle leaf, 10s. 12c
per lb; 5s. 12 c er lb; 60-lb tins, 12c
per lb; steam rendered, 10a, 11-Jio per
lb; 6s, UVu per lb; compound, lus,
&c per lb.
'lbH Rock cod. 12V4C lb; flounders,
6o lb; halibut, 66u. per lb; striped
bass, l6o per tt; catfish. Ho ir lb: sal
mon, chlnook, 9o per lb; steelhead. 7o
per lb; herrings . 5c per lb; soles,
io - per lb; shrimps, 10c per
lb; perch. So ptr lb; tomood. lie per to;
lobsters, 25o per lb.; fresh mackerel, 8c
per ib; craw Man. 26c per - deaen ; stur
,mh l!Uc Der lb: black baas. 20o oer
lb; silver smelt, C 7c per lb; sturgeon,
nuo lb: black cod, 7tto lb; crania.
ti fiiidnrea doz: shad. 3c; roe shad.
6c; shad roe. XI ftc lb.
ion $2.(0: per 100-lb cacK. $b.00: Olym
pla, per gallon, $2.40; per 100-lb sack,
$6.006.60; Eagle, canned, SOo eaa; $7
dosen;, eastern in abell, $1.7 per huo-
Ired. ' - '
CLAMS Hardshell, per box. $2.40,
raxor clams. S2.O0 per box: luc per dea.
rnlate, Ooal CU. fits. -
HOPE Pure maulla. ISc.1 mtandard.
Iliac; sisal, ic; L B. sisal. 8Vc
Coi Oils
iron BDia. cases, wooo kok.
Water White . I0tt ..... 14V4C
Pearl OU
Head Light ... 2ftO
IS o
lvVio
21 O
. rf. .
ioceue . . . . . .
Special VV. W., H o
II c
Eihine ............ 2S o
Kxtra Star ... ..... 31 o
Uasollne L . :
Iron Bbla
V. M. and P. Naphtha ...12 He
Red Crown Gasoline iHc
Motor Gasoline ...... . . ISHo
86 per rent Gasoline .,..16 0'
No. 1 Encine Distillate.. 9 c
Cases.
19 He
22 fee
2JHc
37 He
is c
BENZINE 86 deg., cases, 19 Ho per
gal; iron bbls,12'Hc per gaL
TURPENTINE In cases, 72c per gal;
wood bbbv69o per gal.
lIINf h.t.u uilj Kaw, Bbls 43c; aSes
W
lots of 360 cailona lo leas.
WHITE LEAD- Ton lois, tHc per'lS;
tlO-lb lota, c per lb; less lota. He.
..WIRE NAILS present baal. at tl It,
. ritlraKo Cash Barley.
. Chicago, May . Cash barley.. 62
T4c -. - r ..,.- - ;
, " , Yukon Gold Shares.' .
New Tcik,.May 9. Yukon told closed
today on Uie cub at 4 Vs. ,
PRODUCE ;
BOARD A SUCCESS
Glafke.
make tha j.
Glafke, of
; : t'.u- Port-
the fjini bearing his
one of the nn;
TjonTinlttee member3
to defeat the very .tiling;, they are going
alter iiigtier vajues. When manufac
turers In any line se producers offer
.ng stocks direct they ecme to the con
elusion that conditions are very bad
and the nrkes they offer are generally
below those the local man will pay.
The same condition exists in the mo
hair rmiket and regular pool sales have
proven very unsatisfactory thus far.
Klfchteen cents H tTie highest price he
irs: offered in the open market at this
tlm-1 although one of the pools sold a
fraction iiianar than this during the
week.
derful help to the starving plants and
Although the 1908 crop there will not be
heavy, it will be much better than ex
pected a few weeks a;o when prospects
were indeed blue for producers.
The report of the government giving
the condition of the American wheat
crop on May 1 as 89 per cent as com
pared with 91.3 per cent a month ago.
came as somewhat of a surprise In
view of the many lata reports that have
been received from Kansas and the south
west regarding unfavorable weather
and bugs.
BUTTER MARKET VERY
ERRATIC IS SON
San Francisco, May 9. The butter
market waa rather erratic and higher.
Extras opened at 23c perpound and
rirsts arterwara went up to Z3c so
that the official quotations on extras
had to be advanced to 24c. The advance
was lc per pound for extras and firsts
and c for seconds. Extras closed weak
at the advance and other creameries
firm. On change 10 cases of extras
sold at 23c per pound. 10 cases firsts at
23c and 60 cases firsts nt 13Ui
Eggs" were c per' dozen higher, for
firsts, extras closed weak and other
grades steady. On change 10 cases of
extras sold at 20 H per doxen, 40 cases
firsts at 18c and 10 cases fleets at
19 He There was no change in cheese.
On change 50 flats, fancy new sold at
12c j,er pound and 25 fancy Young
America at 13c.
There were nearly 2,000 crates of Los
Angeles strawberries on the market and
over 200 chests from nearby points. The
demand was good on two days' require
ments and rather better prices were re
alized for best quality. The market for
cherries was Irregular and weak, the
supply beln largely in excess of the
trade detnand. A large part of the 'of
ferings was of poor quality. Four car
goes of oranges arrived and the Inquiry
was good with prices rulina firm. Lem-
onw and limes Unchanged. More Cen
tral American bananas are due today.
There is some demand for apples right
along, but they have ceased to be a fea
ture of the market. A good quantity
of crated strawberries arrived from
Florin. The market was fairly-active
for seasonable fruits.
The vegetable market generally re
mained nominal and there has been-no
charges worthy of special jnentlon,
The local spot wheat market exhibited
more firmness ; today, that is., higher
prices were- asked, but buyers were re
luctant. Th receipts were 28.125 cen
tals. Including 25,-606 centals from
Washington and ,700 centals from the
east. Hp-
December barley closed d per ceptal
higher. The spot market was quiet but
firm, There were receipts of 4;770 cen
tals, Including 2,000 centals from Wash
ington. .. Ottts--Were firm "with - receipts
of 4:9:0 centals and all but 50 centals
being from the north, ;
Beans and corn were firm., Oilcake
meal and coeoanut cake Were advanced
$1 per ton. -Foodstuffs ruled very firm.
There were ' 5,020 barrels of flour
shipped to China today.- The day's re.
rcli'ts. fff -f'-ur were 2.378 hftrrelw, liv
cludius J.ssi barrels Ik
torn Washington,
TO BE ABSORBED
BY HARRIR1AH?
jReports That Financier Will
' Take Various Eoads Tuts
Prices Higher.
By Thma C. Shotwell.
(Brant Nrw by Longed Led Wire.)
strong and active market today, thei"''
noDular snares rose to new nigh rec-
ords, and business was more widely
distributed than for some weeks. On
the surface there was every appearance
of a genuine bull market, but a rumor
that one operator who is short 40,000
shares of Keadlng had offered to make
a private settlement at 120 gave a
glance at the machinery of the pres
ent movement. There were exciting
moves in some specialties., unesapeaKu
& Ohio advanced five points on rumors
of a deal in connection with the Har-
rlman lines. Norfolk A Western was
put up on tne same rumor. Ontario &
Western advanced on a report that the
New Haven directors were in session
and would announce a deal Involving
that property. The low-priced railroad
shares were all advanced, and Lacka
wanna was moved up 20 points to its
high record figure. V
Bonds were active and moved to high
record prices in many directions. The
peculiar feature of the advance was
that the prices did not seem to attract
any selling of importance, all offerings
being Instantly absorbed.
rue oanK statement was lavoraoie.
but money is so plentiful that it had
no bearing on the situation. Money i
being offered at very low rates, not
only on call, but on time.
The enthusiasm extended to the cot
ton market, where prices were marked
up nearly $1 a bale. Wheat yielded un
der tlid Influence of a big crop forecast.
On the curb market the remarkable
strike of ore In the 600-foot level of
the Mohawk continued to have Its in
fluence, for the vein has been pene
trated 35 feet already without signs of
a wall.
Confidence Among Investors.
(Initi-d Press Leaaert Wire.)
New York, May 9, The underlying
situation in the financial markets has
undergone no essential change during
tne week. Neither the recovery on the
stock exchange nor the better feeling
outHide of- Wall street Is based upon
Improvement In the general state of
trade. What the advance In security
prices for. two months has reflected is
an almost universal confidence among
Investors first that last autumn's col
lapse was to a large extent unwarrant
ed: second that industries have defi
nitely turned the corner and will In due
lime ,aJHi:ii kit ill irnil nmxitei jitiwai'j
movement. This hopeful view has been
freatly strengthened by the evidences
n recent weeks of an enormous sum of
idle capital pressing for investment, the
ravoraoie progress or tne crop season
and the ability shown by the railroads
to bring down operating expenses, tt
has been encouraged even more by the
Increasingly better . prospect that the
outcome or the nominations for presi
dent will be entirely agreeable from a
Wall street standpoint.
The maintenance of very low money
rates was assured, and seems a prac
tical certainty. Of tho 446,000,000 called
in by the treasury half has already
been paid. Yet there was an enormous
Increase In local cash holdings. Other
Inducements of -the week call for only
passing comment. The government's
figures for May set a rather lower con
dition and estimate for winter wheat
than was expected, but the comparison
with previous years remains extremely
favorable, both as to acreage and, If
present figures are maintained, the
crop will he near the largest on record
Kange or values
o s r n
DESCRIPTION. S x
: ; ;
Amal. Copper .. G2 6lf62 2
Sugar 127 128 127 128
Colo. F. & 1 27 28 27 27
Brooklyn 48 48 48 48
Peoples Gas ... 90 91 90 90
U. S. Steel, c 36 36 36 36
do pfd 101 101 100 101
Atchison 80 81 80 81
B. & 0 88 88 88 88
Can. Pacific 1158 168 167 158
Erie . ...f. ( 19 20 19 20
L. & N 107 108 107 108
Mo. 1'aclflc 49 49 49 49
Pennsylvania , .. 119 120 119 119
Reading 114 115 114 116
Rock Island ... 16 17 16 17
So. Pacific 86 86 85 86
St. Paul 138 134 132
Union Pacific .140141 140 140
Am. Smelter .. 73 73 73 73
N. Y. Central ..102 104 102 103
No. Pacific ... 134 135 134 134
Anaconda ...... 38 39 38 88
So. Railway 16 15 15 16
Rock Island, pfd. 33 33 33 34
Nat l Leather .. . 62 62 62 62
Great Northern 129 181 129 180
Wabash, pfd. ... tl 21
Ches. & Ohio . . 38 43 38 43
Smelter.- pfd. .. 87 97
Am. Locomotive 61 51
Central Lea. ... 27 27
Ontario 85 3
Cotton Oil 28
Norfolk .., 67 70
Soo. c, m
do pfd 120
Denver & R. Q. . 24 26 24 24
Total sales, 497,000 shares.
SPOKAXE MINING EXCHANGE.
(Furnished by Downing-Hopkins Co.,
memuora epoKane exenange.)
Spokane, May 9. Official prices:
Bid. Ask.
Alameda 8 4
Alhambra , , . iT.
Alberta Coal & Coke., 13 ....
Am'n' Commander 3
Bullion.. 4
S
5
1
75
8
170
u
. 3
450
Chas. Dickens
Can. Cons. Smelter
Copper King
Dominion Copper . .
Evolution
Echo
Gertie
Granby Smelter ...
Hecla .
Happy Day
Holden Gold A Cop.
Humming Bird
Hypotheek ,
Idaho Giant
Internat'l ('. & C
Lucky Calumet ...
Missoula" Copper . . .
Mineral Farm
Moonlight
Nabob
Nine Mile
O. K. Cons. '
Oom Paul '..
Panhandle Pmelter ,
Park Copper
Rambler-Cariboo . ..
Reindeer .
Rex 16 to-1)
Sonora . :.)
Snowstorm
Sullivan Bonds
Stewart
Tamarack A Ches. .
. 70
3
.125
. 2
. 1
. 3
. 85
.250
. 2
. 3
. 3
:
. f5
. 13
"H
Ui
. ,3
; 3
" 'i'V
. 3
6
. 1
. 23
Stt
.
. 6
.173
6
6
5
56
15
10
- 2 '
4
1
B
8
2
27
3
n
94
...i 85
.... 85
Yi onder
.1
2
Sales 1,000 Nabob at 3c. 1.000 'Na
bob at J c 3.500 Panbajjdle at (c,
6,000 Panhandle at 6c. ; lVr..
! Liverpool -Wheat Market. ,
' Liverpool, Maj) . JTuly wheat closed
at "s 9d, a net-gain of ld over
frlday. -,v - .
,': . '-''-: ';''."" r "
' Taroma Wheat 'Market
S Mlieat 'Market. ' : , .1 l ot. including contributions to a r-
V' t. W4ieit Kxportrlo'H'Hl" jinking fund. tnirie over i,
,slem, 83c; red. 84c - ter tiee. ;
1 Tscnms. .-' S'l
tlab, tic: blues
MILLIOHS FOR
SALE AT TOP
July Goes to 93 l-2c but
. Finds Plenty of Wheat
Being Offered.
CHICAGO WHEAT MARKET.
Open. Close. May 8. Lots.
May
.10i 105 105
924
87H
92 H
87
93 H
88
I'm
(Unltfd pre Lenaed Wlr.)
Chicago, May 9. The wheat market
was easier at the opening compared
wltn the extreme bullishness It was
exhibiting at the close yesterday. All
markets were for the most part higher
in COnsenUeneA nf thA nHvnnea In whMt
Liverpool was up from lHd to lHd and
Antwerp showed He rise. At Berlin,
uwi?yer, mere was lc decline.
with
ia necune or ic in October price.
J ne wheat market had. n. strong- nn.
turn in the middle of the session. May
wheat getting up to $1.06 H and July
to i)3Hc but there were millions far
sale of the latter delivery at the ad
vance and it gradually weakened un
i'i May got down to $1.03. at the
close. July dropped to 92 and the
latest trading was below its point
of closing yesterday.
An active trade was done in corn
but Improved weather led to expec
tation of a more liberal movement from
the country. There was selling of corn
In scattered small lots from every nunr-
ter, so that the market weakened con-
, slderably toward the end. The sample
At the close prices showed a decline of
c in May and c each In July and
September.
In sympathy with the less bullish
disposition of traders in the other
grains, oats yielded a little increased
selling. Pressure of offerings was
ehlefly in the July and September ds
llverles. Prices at the close were Ho
lower In May, c lower In July and He
In September. Sample market offerings
Toiind buyers at the same price as paid
the day before.
...... . . . ' ....... . , v tv TTti ,VW-II,
t ontlnuatlon of a heavy movement of
hogs to market -started the .products
i mini vtc io oc unaer yester
day's figures. Offerings were qult
light at the close, selling of small lots,
however, causing a recovery of the
decline.
Winter wheat No. 2 red. $1.04 lt
1.06; No. 3 red, 99ci$1.05; No. 3,
$1,0541.08: No. 3 hard, S9c$1.06; No.
3 spring. 94cji!$1.10.
I'nrn Vn 5 1 , . . X-, 0 n-V. t . ").
No. 3 yellow, ' 72 72 c; No. 4, dG
6c.
Oats
No. 3 white, 6455c; No. 4
I white, 52 j. 53c.
Range of price:
WHEAT.
Open, High. Low. Close.
105 106H 104
92 934 92H 92H
87 88 87 87
CORN.
64 S 4i 64H
63 63 62 62
OATS.
41 46 45 46
37 37 37 87H
.May
Julv
Sept.
July
Sept.
July
Sept.
MESS PORK.
...1365 13S7 . 1857 13SS
July
Sept 1390 1396 1386 1390
GR.AIX IN SAN FRANCISCO.
Wheat Market Is Firmer for Spot
Other Lines Are Unchanged.
San Francisco. Mav 9. Merchants'
J Exchange prices: 1
7 Wheat Jfay, $t 66; December, $1.67.
Bsrley May, $1.45; December. 1.33.
Cash wheat White Walia Walla,
$1.70; red Russian, $1.67; turkey rod,
$1.72; bluestem. $1.78.
Cash barley No. 1 bright, $1.45;
brewing, $ 1.65. '
Cash oats No. 1 white, $1.65.
MUlstuffs Bran. $31; middlings, $33;
shorts, $31.60 per ton.
WEEKLY STATEMENT
OF NEW YORK BANKS
i
I'ew Tork, May 9. Weekly statement
of New York banks:
Members' average cash reserve, 30.03
fer cent; reserve, lncreasf. $1,890,575;
ess V. 8. increase. $970,125; loans, in
crease. $5,887,000; specie. Increase, $5,
259,600; legal tenders,- decrease. $587,
600; deposits, Increase, $12,666,700; cer
tificates, decrease, $911,000.
Members' actual reserve, 30.24 per
rent; reserve. Increase, $36,301,850; re
serve, less V: S., increase, $5,623,200;
loans, increase, $3,765,800; specie, in
crease, $8,740,000; legal, Increase, $1,
188.300: deposits. Increase. $11,842,200;
circulation, decrease, $137,800.
Non-members Loans. Increase. $23.
623,300; specie. Increase, $914,400; legal.
Increase, $387,600. Total deposits. In
crease, $29,932,100. Total deposits,
eliminating other banks and trust com
panies in New York city, increase. $.-
327.000, aggregating reserve deposit, de
crease. $14,642,900; percentage of legal
reserve, 32.60 per cent.
BOSTON COPPER MARKET.
(Furnished by Overbeck & Cooke Co.)
Boston, May . urriciai prices:
Adventure ... l
Allouea 26
Atlantic .....13
Old Pom 35
Osceola 84
Quincy 82
Shannon 12
Cal. & Hecla. 660
Daly West
Dora. Cop.
C. Ely
Gold inii:.A
reene
Michigan .
9 mi Tamarack 68
. 1 (Victoria 2
. 8 'Winona 4
IButte coaia zs
S
Trinity 13
.10
( nlted cop.
Parrot ......
Nlppisslng- .
6
North Butte.. 68
Nevada Cons ..11
Glroux 3
,20
DUTCH CRUISER.
Even , the Guns Were Painted This
Color.
From the New Orleans Picayune.
Th first Dutch man-o'-war which
has ever visited New Orlsans dropped
anchor Sunday afternoon just orr the
head of Carol street.
She Is the second class cruiser Gelder
land, and Is as spick and span a ship
as ever came info' port Painted white
from stem to stern, only her masts, two
b'g funnels and the flagstaff . give S
touch cf color.
The white effect Is carried so far
that even the guns are painted this
color and are not visible more than
t hundred yards from the ship. The
Interior of the ship and the officers'
quarters re painted white with such a
generosltv of oaint that the very walls
Icok as though they were enamellel. .
The officers were attired in white
ducks, as were lhe sailors, and although
severe! score of them were leaning over
the rail, they seemed but a jart fit tlt;
hull of the ship until within about 50
yards. ' -.- -, .. " y " ' " " ' ' i ' '
Belgium's Elongated Orchards.
Front the Car.
vT'ne Belgians border their roadsides
with apple and pear trees of - the cider
and perry varieties. nd they draw a
profitable revenue from their elongated
plantations. Time the 800.000 rottdslile
trees -of Belgium bring in an nnnunl
inraii,. nt 13.0)0 that Is. a llttln-ovur
i A. tri. hi'- juti li-ttle' m-Hil thev
SHEWED SHEEP
HI IS X on
Supplies Are Jruch Heavier
and" While Market Is Eas-
ier, Price Is Same. :
PORTLAND LIVESTOCK HUN. ?
Hogs. Cattle. Bheero
Past week ........ .715 1,078 4,49'
1907 ,.i...7A ": 1.355 8.831
1906 ,,..816 1,2'JS ' 8.191
1906 218 , . 811 6,00
" By Hyman If. Cohen.
Portland, Union Stockyards, 1 May -
In every line there waa, an Increased
showing, of arrivals during the past'
week. The principal increase was in,
sheep, the total run in the yards for
the six days reaching 4,490 head, com
pared with Z.56S nead last week. Tbl
week's run compares with 2,831 head n,
year ago, 3,191 two years ago, end 6.04)
head for this same weckl three years-
ago. , . :
With the Increased arrivals there w
some showing of weakness In sheep,
during the week, but foe . only prlco
change of note in this line was in lambs.
which dropped SOo about the middle of
the week. Later on the tone in sheep
became steady again, but the market
maae no iuriner cnange in prices.
Hogs IVose and Then StMngtnea. '
While the run of hogs in the yard a
during the past week was fractionally
Increased over whatsit was the previous'
six aays, tne run was sugntiy smauet
than during the same week a year ago, "
Hogs lost 15c from the high point early
In the week, but the smallness of th
later run put the market steady again. .
There is no demand at this time frtr
anything except the best finished stuff
in the cattle market. Quite -a larger
amount of poor stuff is now oomlnpf
rorwara, ana tnta is not meeting wl til
ths demand the shippers seem, to ex
pect. For finished cattle the market 1st
In very rood shape, with select steers
firm at $5. ,
n Jai iv,i nun Hill. - wet. inn
livestock market was easy, with a sharrt
decline In lambs, but other values were
uncnangea. ,
Interest in B. k S. Increasing'. '
The report that Swartzschlld & Suls
burger, tne Independent packers, woubt
take charge of the old Zimmerman riant
Monday morning has added much Inter- "
est to the livestock situation here, and
stock people are highly elatod. iWltii
Swartzschlld & Sulzburger in the field ,
here in competition with the Swift con
cern, there will he a larger and mora
spirited demand for all livestock. . , :
Official yard prices:
Hogs Best stuff. $6.2585: China
fats. tS OOff 8.25; feeders, 15.0006.35. , ,
Cattle Fancy eastern Oregon steers,
35.00: medium, $4.00(94.50; best cows,
$3.503.75; bulls, $2.6003.00 stags.
$3.004.00.
Sheep (sheared) Best wethers, $4.7S
(!?6.00; spring lambs, weighing 75
pounds, $5.7506,00; ewes, $4.25(34.60:
mixed. $4.504.7S. , .
EASTERN HOGS STEADY. I
Receipts Are Small and Prices Ar
Easily. Maintained Today, f ;
Chicago, May - Livestock -receipts:
Hogs. Cattle, Sheep.
Chicago ....-. 8000... .... 4290
Kansas City .......6000 ; 200
Omaha ..4300 100 S0J
Hogs are steady; left over ; yester-
day, 2,900; mixed, $S.25l5.75l heavy.
$5.45Ti 5.70; rough, $5.295:35; : light,
$6.255:65. . r
Cattle Steady. f ' -
Sheep Steady. , j
LOWER lEVELSOllGHT
BY TON
San Francisco, May 9. Closing; prices:
GOLDFIELD: DISTRICT.
Sandstorm 84c, Red Top Ext. 15o, Co
lumbia Mt. 19c. Jumbo Ext. 34c, Silver
Pick 20c, Black Butte Ext. lo. Atlanta.
24c, Great Bend 38c, Florence $8.75.
Dlam. B. B. Cons.- 19c, Comb.. Fraction
68c. F. Mohawk 16c, Red Hill 25c, Lou
Dillon Sc. Yellow Tiger 10c. Tellow
Rose lc. Col ML Ext. 2c, Goldf. Cons.
$5.67. . . -
BULLFROG DISTRICT.
LIge Harris lc
tONOPAH DISTRICT , ' ',
Ton. Nevada $8, Ton. Montana $1.60,
MacNamara 30c, Ton. Belmont $1.12,
Ton. North btar 12c, Jim Butler 310.
MANHATTAN DISTRICT.
Little Joe 2c. Granny Sc. Jumping
Jack 4c. ,..-. ,! .
SCATTERED DISTRICTS.
Nevada Hills $2.25, Pittsburg Silver
Peak $1.15. Eagles Nest 23c.
i i i d i
MAILS IN ICEBOATS.
Few clvlllxed places are so isolated
In the winter time as is Prince Edward
island, which is one of the maritime
rrovinces of the Dominion df Canada,
t lies north of the Province of Nova
Scotia and east of the Province of Ne.v
Brunswick, being separated Xrom both
by Northumberland strait.
So much for- geography, which is f
miliar enough, lor Prince Edward isl
and has become a popular summer re
sort, it will not be a popular winter
resort, however, until the climate
changes radically.' .. ' - r
Northumberland strait prompfly
freexee over for the most part pretty
eariv in the winter and communication
Is a hazardous ' matter. It Is Just -is
bad as getting across Great-South bav
in the depth of winter and the method
of crossing is the same. A variation t-t
the "scooter," or that contrlvancs whie'i
Is part sled and part boat, Is the solo
means of traveling.
There is one difference between the
winter navigation of Greet Bout!) bny
and of Northumberland strait. Traifi..
across Great South bay It not '-reguhir
as those who are forced to inhabit' Hr
island, know to tneir sorrow, liut ie -
boats make regular trips to Prinze y i
ward Island all through the cold spi.r,
The ; cold spell : ie - protnnged, uiauiiy
from mid-December to May.
The favorite, route for the Icelmn'n
Is from C'aoat Tormentine in v...
Brunswick to. Cape Traverse on , ti,,
'fsland." - as the insular wnvin :
calleii locally. That makes a trip abo ut
jae mails have to b car red lwi,i.
or- no In-Canada,' and many a perllo-in
iourney is ntade by the i-iirri.-r. 'i:,n
Iceboats are larre enotuh to c-rry pi-,.
sengers and quite a fw are ttaii-.;- i. t
in the course of th liw winter. Yi.o
no matte tu trio find it an tnit.i-ii.-i, .,
worth remembering. .. '
, ! l"a requited Go pi us.
" From tho E-i-ire.
The world -has never i , m-1 t ...
of th feniJs who coi i-eiy.- l ),-- j i . t ,.
spreadintr b'itter.-.--!non lin . i-
vomb!nt!-m cf foo1 .elements n. i
suable, more- wtiolesoinj, nr I n ..-.
vrsallv popnl.tr thnii nvv f, i ; ,.
pined wl!oni of o'i the t-rn.'.
hve ever livel )i tti m'.-- '
vise, v
Tomorrow, ts ,
dav for (iUini.irl ,,
It. mittai'i I 1 - i
UUcuuut I -, ii'ii.. '.
PAH
SHARES