The Oregon daily journal. (Portland, Or.) 1902-1972, May 24, 1908, Image 27

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The Oregon daily journal., May 24, 1908, Page 27, Image 27

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Newspaper Page Text11 .WHEAT IS SO SCARCE' IX NORTIHYEST THAT BUY ERS MUST PAY PREMIUM : THE OREGON SUNDAY JOURNAL .. PORTLAND, .' SUNDAY MORNING. MAY 24. . 190&V Ik WE FlMNCWb -WORLD SHEEP i MARKET 3 ILITS LOWEST POINT IN YEARS vIIERE , DURING WEEK " ' ! i '; , , ; .. With the Trade V : II! - - Latest Market Reviews- OUTSIDE TIMER cm Only" Best Known Brands Are Able to Clean Up at ' the Present Value. By Hyman H. Cohen. . . It begins to look as If there will be a drop In the price of butter In Portland rext week although - today creamery makers of this city have been able' to malntan tne price at oe a pouna. It 1 the outside maker wtthjils Hm ' lted market who la beginning, to pile up supplies during the flush of the reason. The high price now In effect are holding back his business because values are too high for storage, and there Is too much butter being made for immediate consumption at home. Portland alone received over 30.000 f allons of cream during the past week o be made into butter and this amount J rill go a long way toward supplying he local demand. The amount of but r shipped to the north will not amount .to more than was shipped to thin market by country makers during the week. High prices are all right for the pro ducer when they do not restrict the de mand but for this time of the year the present value Is very high. At first glance this looks like a very good thing for the producer but careful figuring of the situation will show the reverse to be the case. Whenever a produot or commodity Is Sut to sucn nign vaiuew mai ji cum eep into the consumption thus les sening the demand for that product It likewise means that a substitute for that product will be brought in from other sections, prices being normal. Butter has been too high In recent years In Oregon In fact it has been higher here than in any other produc ing actions Of the country. This has forced Into this market at divers times a very heavy amount of eastern and other outside makes, all of which sells in' competition with the local production because of the enormous height the latter has been boosted to. A short time ago the local price of butter was advanced from 22H to 24c a pound and again to tSo Just because several local maker were fighting for cream and decided to take this revenge out of the publlo. In the market It seems neither ad vance was justified simply because there were heavier supplies of butter after the advance than before it and the demand had shown practically no increase. Even now the supplies are Showing a great Increase and it is the question of but a short time, even ac cording to the makers themselves, be fore the price will have to go down. At the flush of the season the pres ent time too much butter is produced in the Pacific northwest to use at once. Much of the larger per cent of it Is annuallVput away Into the storehouses for winter use because of the low prices ruling when butter became so plentiful. The present price of butter Is too high for storage and even 22 Ho is considered an excessive figure. STRAWBERRIES ARE SCARCE. Market Rules Higher Because of Scant Supplies Due to Rain. Strawberries were scarce all thrnugn the past week owing to cool weather snd rslns both here and. in -California. However, at the. close of the, week It innuM llkttlv Mm if the Orftn-ni? tiArrj will take entire control of the market next week for arrivals promise to be very liberal. Because of the scar city during the week the market showed extremely high values. EGOS CLIMB HIGHER. Manipulation and Northern Demand Combine to Force Values Up. Eggs climbed during the past week. The advance was due to two reasons; one, the manipulation of eastern egg handlers, who try to put a false value On the local eggs In order to boost their own; and second, the demand from the northern cities took out a large portion of the Willamette valley ship ments. The chicken market received a setback the past week on account of the very liberal supplies during the last few days. It has been many a week since poultry supplies were so liberal along Front street and buyers took advantage of this condition and refused to pur chase unless' quoted lower values. While prices did tiot suffer much a lower range will rule if heavy arrivals are continued. The great demand is expeoted the first week In June the rose celebration but until that time the market can absorb only usual ship ments. Spring chickens will In all probability decline In any event, be cause this is the time for supplies to show a heavy Increase. Spring ducks are in quite good can. Dut geese are scarcely sought at the moment. Dressed meats had a bad week of It There were, very heavy receipts and on top of this csme unseasonable weather which made shipments in good condition quit stsady. Veal especially arrived in bad shape and prices were sacrificed an through th market in order to unload. Even at lower prices r (Olivers are unable to move all ar rivals, and some were placed in cold storage In order to save shipper from total toss. Th cheese market ruled downward during the ween witn very liberal ar rivals. Demand is quit fair1 at the new price. FRONT STREET RECEIPTS. -I. Erpress Shipment and Boat Arrivals of Produce During the week. Express and boat shipments of pro duce to Portland during the past week wars: 101 boxes asparagus, boxes apples, 1.860 boxes beans, us packages beer. 771 boxes butter, 121 boxes clams, 71 crates cabbage, 20 crates cauliflower, 988 cases cheese, 468 boxes -.cherries, 881 coops chickens. 80.025 gallons cream, 1? boxes ououtnbers. 4 boxes green-corn, 1 boxes crabs, l crate ceiery, e doxbb crawnsn coops ducks, tit cases eggs, 4 boxes MANY CONDITIONS PULL DOWN HOP CROP 4 That there will be a very short : 4) 4 crop of hops in Oregon as well . 4 4 as in California and Washington 4 4 this season Is how believed by 4) e all Interests. Reports from WH- 4 4 lamette valley yards during th 4 4 " past, week indicate that those 4 4 yards which were receiving th , 4 4 best cultivation will not har- 4 4) vest over ,76 per cent of a crop, , 4) 4 and many will not give that 4) 4 much. This,' coupled with th 4 4 acreage plowed un and others ; 4 4 left without stringing, means 4 4 Jhat unless something unfore. 4) 4V seen at the moment happens Ore 4) 4 gon will not produce more than 4) 4 90.000 or 100,000 bales this sea-, 4 4 son. However, even this amount 4 4 la that many bales ylrto- many 4 4 for th good of the price. v 4 C eggplant, 880 boxes fish, e boxes fruit, 10 boxes gooseberries, 237 head dressed hogs, 163 cases honey, 161 cases lemons, 423 gallons milk. 166 seeks oysters. HI I crates onions, 169 Backs peas. 475 sacks potatoes, s ieaq oresseq mutton. , ; ., ijTTLE WHEAT OFFERED. . Holders Are Inclined to Wait for Ad vanced Prlceg Before Selling. Wheat was very firm on the Portland board of trade during the oast week Thefe wore but little supplies offering and the market went to wzc ior oiue stem with holder unwilling to let go unless given a nigner price, f rom re ports that come from the country it is evidently the intention of holders to " await a market about 6c higher than .the present one before letting ge ineir noiaings. . : Holders are inclined' to the opinion that they will be able to command this figure because of the scant supplies held by millers and the heavy demand from California. The southern state is now In the market for larrer bud- pltes than at ady time thus far this season snd if this demand is continued for awhile there is but little doubt that the market will be forced higher. - While to date there has been but a mall amount of oriental flour trade to hand, some interests are expecting a slight revival in business. If , any heavy demand should come from across the Pacific it would have a very stif fening effect on wheat prices throughout the Pacific northwest. Lo cal flour trade la quiet but there Is a fair volume or business coming irom TollforniJi Millstuffs-continue very firm not withstanding the decline of 60c a ton in - the California markets. Oats and barley held firm during the week with utue - stocg oriering. WEEK'S BRIEF REVIEWS. Small Notes of Several Busy IJncs of Produce for Six Days. Asparagus was very scarce and higher during th week. Cherries from local points have ap peared but' quality is not very good. California stock coming in better shape and is finding an Improving . sale. Hothouse cucumbers , are in very lib eral supply with prices lower. Apple market. is holding its own with supplies still quite fair. California onions both reds and Bor mudan are lower with mone liberal supplies. Quality of reds Is not yet goof) but better stock is promised. Front street- sells at the following prices. Those paid shippers are less regular eommlsslonu: Orate, Flour and Rag. WHEAT Buying price Traek, Portland Club, 89c; bluestem, 92c; red, 87c; Willamette valley 8c bushel. FLOUR Eastern Oregon patents. !4. 65; straghts, 13.8094.86. SKportg, 3.60Q3.70; valley I4.4S; granam. Us, 4.16; whole wheat, 84.40; rye, 60s, $6.50; bales. $6. MILLSTUFFS Board of trade Bran, $26; middlings, $50.60; shorts, $27.60:528.60; chop, $27.60 per ton. H A i Producers' once 'luuuthr Willamette valley, fsncjr !: ordin ary. $12.60013; en stern Oregon, $l0 17: mixed. $100 lw 50; ciw. tlOWlt. grain, ( ); cheat, : alfalfa. 111(012. BARLEY Board of Trade Feed, $24.60; rolled. $273)58: brewing, $26. UATB Hoard or -rrane mo. 1 wnue, $27.60; gray. $27 per ton. 1 CHITTIM BARK Nominal. Sutter, Eggs and Fonltry. BUTTER FAT Delivery f. o. b. Port land; sweet cream, 23 He: sour. 1H lb. BUTTER Extra creamery, 24o; fancy, 23c; ordinary, 21btt'i'ic; store, 18c. EGOS Extra fancy, candled, 10 lttc. CHEESE Full cream, flats, triplets and. daisies. 1313V4c lb; Young Ameri CUN" tMHc per lo. POULTRY Mixed chickens,. 13r3 ISHc li; tancy hens 14cfrl4Hc: roos ters, old. 10c lb: fryers. 20fr22Uc lb; broilers, 20 22 Vic lb; geese, old, 8 9c lb turkeys, alive, 16 17c lb; dressed, lO:0e lb; squsbs, $1.60 dosen: pigeons, $1.16 dosen; dressed poultry, ltflHc per lb. higher. Sop. Wool and ma. HOPS 1907 crop, first prime, 6H06c; prime, 4H6c; medium to prime, 4c; medium, 84c lb; 1806 crop, HlHc lb; contracts, 108. 8Ho lo, WUoL 1908 -Willamette valley, 11 12c. MOHAIR 1908 Nominal, 18g18Hc. HIDES Dry hides, 12 $01 So lb; green. 4 5c; calves, green, 67o: kips. So lb; bulls, green salt, 2Hf8ttc lb. SHEEPSKINS Shearing, 1016o each; short wool, !Se4. . im wool, 60o$l each; long wool. 75c II ro each. TALLOW-- Prime, per 1U 3o04r. K. 1 and grease. S0tt. Vrssts and Vsretabieev POTATOES Select. 76 80c, selling; buying, Willamette Valley, 60 66c: east ern Multnomah and Clackamas, 5ui7Uc cwt; sweets, SS4c; new potatoes. 3C. ONIONS Bermuda, $2.26 per 60 lb. crate, 6-orat lots, $2.16 per orate; Cal ifornia red, $2.60 per cwt; garlic, 26o APPLES Seleot, $3: fancy. It.ZSQ 2.60. FRESH FRUITS Oranrfts. tSf.OOiB $3.60; bananas, 6Vo per lb: crated. 6c: lemons. $3 if 8. 7 5 box; grapefruit, $2,600 1.60; pineapples. $4.60 5.60 dos; straw berries, California, $1.65tfl.86 per IS box crate; Oregon, $3.604.60 per 24 box crate. VEGETABLES Turnips, new Oregon, lIHc bunch: beets, $1.00 sack; parsnips, S5o$1.00; cabbage, $2.00; tomatoes, Florida, $4.004.50; Mexican, $3.6002.75; beans, 11 & 12c; cauliflower. Oregon, ( ) per dos; peas, Oregon, 70 9c; California, 7c; horseradish, 8f 10a lb; artichokes, 60 76c doz: green onions, 12 He dos; peppers, bell. 30c: Chile, 15c lb; hothouse lettuce. 75c?$l. 26 box; head lettuce. 26 80s doz; cucum bers, hothouse, local. 60ctl dos: rad ishes, 16o dos. bunches; rhubarb, Ore gon, 2H3?8c; celery, 90c $ I dos; cran berries, eastern. ISS10.5U: asDarasnia Oregon. 7690e dosen bunches; Walla walla, $1.60 box: spinach. S0 85c box; gooseberries, 7 8c; eggplant, 16c Otoeane. ITuts. St. SUGAR California & Hawaiian Re finery Cube, $6.80; powdered, I4.6S; berry, $6.46; dry granulated. $6.46; XXX granulated, $6.86; conf. A., $6.46; extra ., $.0t; golden O., 16.60; D yellow, $6.76; beet granulated, $6.26; bar rel, 16c; ball barrels, SOc; boxes, 66o tdvsnc on sack oaai. (Above price are DO day net cask auotattona.) HONEY $3.60 per crate. COFFEE Package brands, $16.50. SALT 4anit Hair tfrnimrl. I ana 811.00 per ton: 60s, $11.60; table, dairy BUS, SiCOl imconea x.ivrpooi, sua ni.v: s, llJ.00; 4s. 11.00; extra fine Barrets. Is sad 10s. S4. 60c 1.60: Uveruool iutni rock, $10.60 per ton. RICE I inner lal J a Dan. No. 1. te' No, I. 6H06V: N8W Orleans, bead. 7c; AJax. ( i Creole. 6K& , titsSANS email wntte, 4.76; large white. 14.76: Dink. 13.86: bayou. 13.65: Llmas, $5.86; Mexican reds. ( ). nuts jreaauia, jurao. 10 per lb; Virginia, (tie Dr lbi roast, to per lb; Japanese, 7c; roasted, Se per lb; walnuts, California, te ier to; kin nuts, lie per lb; hlcsory nuts, lOo per lb: -brass nuts. 16 per !bt fil berts, 16o per lbs fancy pecans. lQJli( per let almonds. 10.. Ksata. risfcy amd Frovbuoaa. mtKSSCU UEATI T-runi atreae Hogs, fancy, to lb; ordinary. 707 Mc: large, lit 6c; .veal, extra, 1 Vie per o; ordinary, . vc per 10; neav neavv. per lb; spring lamb, 8 fcc . - . itAws, sawn, c j v. -roruana pscs (local J hams. 10 to 11 lba. lBo n- ih 14 to 1 lbs.. 14 Ve per lb.; it to 10. lbs, 14Uc: breakfast banon UBIIa n lbi jtionics, 100 per lb; eottage roll. Tie Ibt -regular, ahort vlears smoked. JH40 per lb; uitsmoked. 10He per lb; clear backs, unsmoked. 10Hc; smoked, llfeo; Union butts,' Ifr to ilo lb: unsmoked, 13a per lb: smoked. Ho per lb; dear bellies; unsmoked. Its per lb; smoked. HIS CXOUDS HAVE big wheat cror still wants rain Within next 15 days By Hyman H. Cohen. According to special Information re ceived from correspondents and from millers and export agents, the prosnfcets are indeed bright for the wheat crop of the Pacific northwest. While in some sections the crop Is still fin the balance, prospects are good enough In other sections to give out the belief at this time that Oregon. Idaho and Washington are going to turn out a crop this season, (hat will not fall ma terially below the harvest figures of a year ago. w The rains of the past week have done the croD much good in fact in some sections the rains saved the state1 from ahowing an almost total failure. Some sections of the northwest lire still badly in need of additional moisture and un less more Is secured during the, next 10 or 16 days, a smaller output than now expected will be the outcome. . Snreka Plat Heeds Bain. While the blir Walla Walla country received a good drenching during the week, the rainfall in the vicinity of Eureka flat was not nearly sufficient to meet the needs of a starving plant. The season thus far has been the most extraordinary in the history of the Pa cific northwest First there was an un usual spell of dry and warm weather at plowing time. Then when It came to sowIiik time the ground was extended fully a month and a half later than usual; some operations in the Pendleton countr-J,- being carried on even after the first of the new year. The winter was all that could be de sired In the way of growing weather, the plant making more progress during that time than In any winter in the memory of the present generation. Shortage of Water. There was only one drawback to the wintry weather and that wao the gen eral shortage in rain. During the early spring the records of the weather bu reau showed a shortage of about six inches of rain and at no time since has any great amount of this been made up. Therefore the wheat crop passes Into the spring months with a great shortage of moisture. To date, of course, this has not been lat this spring, but as soon as warm weather materialises lu earnest, the plaats will clearly show the effects of too little or a sufficient amount of water. There Is still plenty of opportunity for the crop to receive Its full share of water and outside of a few districts and limited areas at that the crop is doing well. 140 por lb; shoulders. Ho per lb; pickled tonguts, voo oacb. LOCAL, LARD Kettle leaf. loe. lifts oer lb; 6s, 12 ftc it lb; 60-lb tins, 1240 per lb; steam rendered, lou. per lb; 6s, per lb; coiupounu. lws, bc per lb. i-lsH Kock cod. II He lb: flounders. 6c per lb; halibut, 60 per lb; striped bast, lie per to. uatfban. lie pt id .ii mon, Chinook, 10c lb; bluebacks, to lb; steelhead. 7c lb; herrings, 6c lb; soles, 7c per lb; surtmpa, lec per lb; pei cn, to pir Ibt luoicod. Ho per to; lobs:ers, 26c pet lb.: fresh mackerel, kc per ib; crawrlsb, 25c per dosen; stur geon, it H per lb; black bssa. too per lb; silver smelt, C7c per lb; sturgeon, 12 He lb; black cod. 7 Ho lb: craua, $l.o01.50 doz; shad.. IHc; roe shad. 6c; shad roe. 12 Ho lb. OYSTEHd Kboaiwater bay. oer gal lon. $2.60: per lOo-lb sack. $6.00: Olym- rta, per gallon, $2.40; per loo-lb sack. MG.6tf; Bagle, canned, 0o can; $7 dosen; eastern In sbeU. $1.76 per buo tred CLAMS Hardshell, per box, 11.40: rasor els ma 11.00 per box: lc oer dos Patata, Ooal (ML Xto. ROPE Pure tnanlla. 11 He: standard, lie; sisal. 9 hie; L B. sisal, tHc Coal cue iron BDia. cases, wood boi. Water White 14Hc Pearl Oil .... Head Light . Eocene Bneolal W. W. aflame Extra Star ... Gasoline II 11 s U"i II it Wo 140 it s Iron Bbla. Cases. lHc 12 Ho V. M. and P. Naphtha ...11 He Red Crowe Gasoline,.... iHo Motor Gasoline 1&H It per rent Gasoline ...It No. 1 Engine Distillate.. o is BENZINE 81 deg., cases, II Ho per gal; iron bbls.ltHc per gal. TURPENTINE In cases, 72o per gal; wood bbls, c per gal. LINSF.KD OIL Raw, bbls 4c; oases 66c; boiled, bbls Ilo; cases 67o a gal; lots ef 260 gallons Id less, WHITE LEAD Ton tuts. 1e per lb; l9-ii iota, ks per is; less iota WIRX NAJI -Present Seals at II lb. BOSTON COPPER MARKET! (Furnished by Overbeek Cooke Co.) uoston. Aisy zj. oiiiciai ma price: Adventure .... 2 Olroux lt4 Allouei 2SH Atlantic 1R Copper Range. 7 2 R0IS-iyCo.::: I Gold! Hill .... Greene IV Michigan ..... 10 Nevada Con, .11 ' Nix Butte..... 61 H Cel. & Hecla.174 Bingham .....72 Daly ;Wesb . ' '" Old Dom. . Shannon .. Tamarack . Victoria ... Winona ... Wolverine . ...to .iss Butte Coala Trinity .... ..22 ..UH Parrot NiPDlssIng uumcy .14 V Moliswk ,tlt sceolo i t? SILVERY LINING. The Walla Walla Bulletin of Friday contains the following on the wheat crop of that section: "Present Indications point to a good grain crop in Walla Walla county, so say those who are in touch with such matters. "A prominent business man, who has traversed most of the county in his auto, speaks very encouragingly concerning the outlook. ' "Of course,' he remarked, 'there are some vicinities where the grain crop has been damaged by wind and others that have suffered on ac count of lack of rain. Areas so affected form but a small portion of the county's total acreage, and the excellent pros pects In other regions will more than counterbalance this slight deficiency.' "According to A.- C. Moore, secretary of the Commercial club, something like 229,000 acres in Walla Walla county were devoted to the raising of grain last year. Although there are no figures at hand, the acreage of this year doubt less exceeds that of last. "Speaking of grain prospects Mr. Moore observed that the cool weather had been very valuable in retarding the growth of weeds. He, too, believes that the crop has suffered little if any yet. on account of dry weather. "Grain dealers tire inclined to be con servative in. speaking 01 the . situation, though not In the lestt pessimistic. Thev realize that wheat Is just now In the making, and that much depends on the kind of uackage the weather man hands out In the near future. Oood Soaker Is Welcome. "'While I have not been" out In the country much, from what I can learn, what we need now Is a Rood general rain a soaker.' Thus spoke Frank S. Dement of the firm of lament Bros. Co. He continued: "The straw Is shorter than last vear. but this will not prevent us from having a good wheat crop, pro vided we get our niMcli-;iieiled rain.' "J. Z. Smith, agent for Kerr, liinora & Co.. Is of like opinion that the grain cron has suffered v. r little as yet. He believes that it is safe t.j count upon at least an average crop. - "The last rain, though not, sufficiently heavy to do much goo-t. was at least re freshing. "M S. Jones, representative of the Pu get Hound Warehouse company in this eitv states that ell the reports that have come to hlui throughout the county concerning the wheat crop are of an op timistic nature. Aske-1 as to whether he thought the grain was suffering for rain he replied negatively. Fall wheat he believes promises to be even better than last year." WOOL STOAT 53 CENTS IN BOSTON Roston. Mass.. May 23 Oregon wool has figured to some extent In this week's transactions In the Boston mar ket: the most important transfer be ing 70.000 pounds of Lakevtew staple on s scoured basis of 53 cent. About 50.000 pounds of scoured Oregon have changed hands besides. Including 20,000 pounds of fine wools at 54 cents, scoured basis. nCKiS ARK STEADY. Eastern Receipts Are Quite Fair but Price Is Holding Its Own. Chicago. May 23. Hogs. 16,000: cat tle. 600; sheep, 2,100. Hogs are steady. Ift over, f 4.800. Mixed, $5.5o5. 85; heavy. $5.0iS5.86; rough, $5.40 6.50; light. $5.406.RO. Cattle steady. Sheeo strong. Kansas City. May 21 Hogs, 7,000; cattle, 1.200; sheep, none, Omaha. May 23. Hogs. 16.000; cat tle, 100; sheep. 1,000. ECHO HOLDS RECORD. Ships More Sheep Than Any Other Station on the O. R. & X. Echo. Or., May 28 The past week there has been In the neighborhood of 16.000 head of sheep shipped to eastern markets. There will ' bo, "several more train loads shipped this season. Echo holds the record of being the largest stock shipping point on the t). R. & N. system. A RECORD BREAKING CALL FOR POTATOES For this time of year the pres- 4 ent heavy; business In the local! potato market- is a - record -I breaker. Prices were recently advanced to 70a in the country for shipping stock, but even at this figure buyers are unable to fill all their orders. However, so far as known none are willing: 10 pay an aovsncc over tnis gum, The demand oontinues from Ari- sona snd southern California'. OUR A STOCK PflillC JUST AVERTED Time Was Too Short to Hurt Much but Some Issues . - Lost 6 Points. STOCK MARJCET I.OSSF.S. Amalgamated 1L. & N. 2 5H tsugar . . . ... . Col. Fuel .... Brooklyn .. V. fl. Steel ... do pf d ...... Atchison .... B. A O Cshadlan .... Nor. Pae. . , . Great Nor. ... Mo. Pacific 2S Pennsylvania 1 Reading IVfciSo. Pacific . . Z hi t. raul tyjUnion Pacific. 5 , lAm. Smelter 2HN. Y. Cent. . 4 HIAnaconda . . . 3 Hi Fed. Smelter iS 1 - By Thomas C. Bhotwell. Htmt Newt by LongMt Leed wire.) New Tork, Way 2$. Only the fact that today was Saturday, with but two hours of trading prevented a panic In th stork market. In the two hou-s available for business, stocks broke wildly, the leaders losing from 4 to 6 points each. The collapse was no sur prise although It came without warn ing. It had been expected for weeks and there Is no evidence that the mar ket Is even yet within hailing dlsjance of safety. 1 Manipulation in the past month has been the most audacious and dangerous ever seen 1 America, It has been based entirely upon the. desire of the enmleH of President Roosevelt to liquidate stocks before thfe Republican conven tion. The plan has been to advance the market up to the day of the con vention and let it break soon after, but so . violent was today's collapse that It Is possible the manipulators will find It difficult to establish a higher range of prices than was seen this week or to sell any stocks to the public at any level until the nominations are made. Political considerations have more to do with the market just now tnan any question of value. Today's violent break came shortly after it was an nounced that the number of idle freight cars had been reduced. The violent ad vance of two weeks a 20 came when It was announced that the number of idle freight oars was then the greatest on record. Gold engaged for export today amounted to about $1,300,000 being an nounced before the close of the mar ket. This brings the total exports on this movement up to $35,000,000, but money is so plentiful that this cannot be considered a market factor In any sense and It Is mentioned simply Unit it may be eliminated. Perhaps the most deadly blow the stock market hns received during the present week, aside from present features was tne announce ment that the steel trust had decided to stand Dat on its new currency sys tem of which steel rails at a ratio of iS rn 1 ia the basis. The steel trust which enjoys the greatest protection unde the laws, has thus placed Itseir as an nostscte :n the wav of a return of prosperity. The effect on the stock market of this alone must ultimately be disastrous and when combined with the present situa tion It means a real awakening . of the most advantages for the reform the country has ever seen. This is certain to give business still further setback and the effect on prices of stocks cannot help but be very bad. So desperate are the people In chaige of the market, however, ind so great are their financial resources that It is quite probable that they may get under It again and stop the de cline. The public should remember, however that they are not acting 111 good faith and that the underpinning will be knocked away within a few weeks. The opportunity now presented for taking profits on investment pur chases made during the panic Is one that the ordinary citizen seldom meet. Hrnvy Pig Iron Orders. New York. May 23 While Wall street has given its attention this week main ly to the fluctuations of the stock mar ket, the more Important developments have occurred in the business world outside. Signs have appeared, although as yet they are comparatively slight. These signs of Improvement are dis tinguishable in the reports which have come In from the iron trade centers! Orders have been placed for pig iron in the western and southern markets con- 1 slderably exceeding In amount any week since the panic. In Chicago districts alone, the total was nearly 40,000 tons. This Is eiual to the point of further concessions in price that have been put upon the books this week. The volume of bank cleartngs Is still well below last year, but the compari son Is much better than for two months iigo and the falling off has been by far the smallest since November. Meanwhile It Is a good estimate among the best judges of commercial affairs that production during the last year has been curtailed radically. There is enough In the trade to make certain that the advance has a solid basis. No body pretends to be outbidding prices in the last fortnight with a mere nat ural desire to boost the market. Range of prices: o x r n v - o DESCRIPTION. 0 " sa ? " A mat. Copper .. 64 H 66H i fiSlsT Sugar :. . 128H U8Hil27l24 Cof Fuel A I.. 28ti! 20 I 2H 2. Rrooklvn 60 50 4SS! 7 People's Gas ... 91H! I l U. 8. Steel, c. 38 1 8SHI H 87 do pfd 102 '102 100 100 '4, Atchison ! filij 81,1 SO", 1', Bait. A Ohio I S8Hi s Canadian Pac. . . 157H l157157 157 Erie 22 V 22l 21 21 Ti Louis. Naslv..ll0814!IOS!l06HlinTlt Mo. Pacific ... 61 i 61 I 68 6Xi Pennsylvania . . .jl2d si ; 1 20 111 '4 I19i3 Reading in sins' 110 4 111 Rock Island ...I 1H 1H 17H117M. 8oruther,n Pac. . . 86 V4! Sk Hli 9S St. Paul 113 136 181 181H Union Pacific ..'147141147 142H 143V Am. Bmelter ....! 72 V 72. 70S 71 H N. Y. Central ...1104 1 04 103 SVi Northern Pacific 133 1SS 1S0H 131 Anaconda 41 V, 41 Vj S9W 40 Southern Ry. ... 1 18 17H 174 Great Nor '129 1274 Am. Locomotive. 49 48 Cotton Oil 29?i 5V4 Federal Smelter. 73 73 Ont. & Western. S 34 R. It pfd. ...;..J 3-. S4H 34S Smelter, pfd. . . .! 97 7 C. 0 44 4 45 43 4SVfe Wabash, pfd. ... 27 I 27ft 26 3S 800, com 111VI114 111 111 Am. Woolens . .! 214 rentral Leather. 14 D. & R. O ! .. H Soo. pfd 1 ...... 130 Total sales. 770.900 shares. Today's Metal Market. New York. May 23. Copper close Lake. 13 13c; electrolytic. 134 9 12?4c; casting. 12H124o. . Liverpool Wheat Market. Liverpool, May IS. July wheat closed at 7s Hd, a net loss of Hd from Fri day. ... -. ; Chicajjo Women to Wear Sandals. From the Chicago Dally News., -1 Nearly 1.000 Chicago women will wear sandals this summer, local shoe dealers predict. One firm already has laid in a stock of several hundred tn adult sizes, as well aS sis for" children. The wo men of Chicago don't need the suptoort of the nhvsical culture- olub to give them JAorage to go sandaling. - - , POUND SHEEP MARKET OVER New Low Level for Several Years Is Reached During: Week in the Yards. PORTLAND LIVESTOCK RUN Hogs. Cattle. Sheep. 3,0ft 2.826 3,92 6.333 iast week 1907 .... ie 190i .221 . .7Z . . 8SB 1,717 62S By Hyman H. Cohen. Portland Union Stockyards. May 23. The past week In livestock was notable for one of the sharpest breaks known locally In the sheep market. Prices came to a new low level for the past few years and even then the market did not assume a healthy tone. Receipts fo& the week were 3.093 head as com pared with 4,475 head a week ago, 2. f 2 a year ago. 3,9pt two years ago and i,333 head three years ago for this isame week. Purchases of sheep by eastern buyers In the interior were the heaviest of the year hut the prtces paid did not in any way compare with the figures received at this time a year ago. The sheep market Is weaker throughout the coun- ry. The public taste sems to have been led astray and it will take some time to get it back to a sheep basis again. Only Best Hogs Are Salable. During the past week buyers paid no attention to anything hut the better grade .if hogs. Rest stuff was firm and In demand at the price values fven showing an advance of 10c but Block ers, feeders and China fats did not find iir.y cnll at all and previous prices In those lines, while still printed, are nom inal. Receipt? of hogs for the week were small, totaling but 479 head compared with 770 a week ago. 221 a year ago, 726 two years ago ani 3SS three years ago for this rame week. Only Best Cattle rind Favor Too. A. in the hog market, the demand In catt'.e w.'is only for the best stuff and for this erade' the market held rather well at a. For cows the prlca broke down -Be and for bulls and stags there was only a nominal request. Receipts of cattle for the week were 714 hend, a decrease of 100 head from last week, comparing with 1.717 a year ago, 625 two years ago and 1.199 three years ago for 'his same week. A year ago for 'this same week lower r. rices ruled in all lines with the trad ing very weak. Official vard values today: Hogs Best stuff. $fi.257 .35; China fats. $6.00(86.15; feeders. $6.00(95.25. Cattle Fancy eastern Oregon steers, $3.00; $3.75; medium. $4.60 W 4.76; best cows, bulls, $2.00 if 2.60; stags, $..u 3.00. Sheep Best wethers, $4.004.26; spring lambs weighing 75 pounds, $4.50 fi4.75; ewes, $3.50.3.75; mixed, $3.75 4 00. MINING SHARES OF (Furnished by Members , Spokane, Ma Downing-Hopklns Co. PACIFIC NORTHWEST xchange. ) 'flclal prices: Bid. Asked. ..5 11 ..3 3i .. S ,.70 7 ..2 5 .. 2 6Vi ..6 13 . 2V4 3 ,.125 155 .. li 214 .1 2 . 2V, 3V4 .85 . 24 2 '. 3 1S .1 1 .160 lis" .7 11 . 74 9 3 4 .1 2 . 3 3 . 1 2 . 5V4 .. 3T4 .4 ... 1 2 i .. 23 27 .2 2i ,. .. lOVi 3H 5V4 . . S 9 ..177 IS 1 . . 87 94 .78 90 . 1 i 1 74 AJax V Alameda Alhambra Alberta Coal & Coke. American Commander.., Bullion Chas. Dickens Copper King Dominion Copper Evolution Echo Gertie Granby Smelter Happy Day Holden Gold & Copper.. Humming Bird Hypotheek Idaho Giant Jnternat'l. C. & C. Kendall I.ueky Calumet Missoula Copper Moonlight Mineral Farm Nabob O. K. Cons Oom Paul Panhandle Smelter Park Copper Rambler-Cariboo Reindeer Rex (16 to 1). Snowshoe Sullivan Stewart Tamarack & Ches. . . Wonder 8Rlen 500 Misooula at 7Sc; 5.000 Na bob at 3Sc; 2,000 Panhandle at 4c; 10,000 Panhandle t 4Sc; 5,000 Panhan dle at ic. 3.000 Panhandle at 4c; 1.000 Ambergris at 16Uc. NEVADA MIXING STOCKS. San Francisco, May 28. Noon closing prices: OOLDFIELD DISTRICT. Sandstorm 28c, Red Top Ext. 9c. Co liimhla Mt. 1 hr. Jumbo Ext. 28c," Sliver Pick l4e. BiacK liutte Ext. lc, Atlanta 21c, Great Bend 29 Florence $3.85, IMam B. B. Cons. lc. Comb. Fraction 50:. F. Mohawk. 15c. Red Hill 19c. Lou Dillon 2c, Yellow Tiger 7c, Yellow Rose lc. Col. Mt. wt. zc, uoiar. t ons. $5.45. BVLLFROU DISTRICT. Llge Harris lc. TONOPAH DISTRICT. Ton. Nevada $8. Ton. Montana $1,62 4, McNamara 28c, Ton. Belmont 97c, Ton. North Star lie, Jim Butler 27c. MANHATTAN DISTRICT. Little Joe lc, Granny Bo, Jumping Jack 4c SCATTERED DISTRICTS. Nevada Hills $2.25, Pittsburg Silver feaK t !.. r.aKies nest i jc, AVKEKLY STATEMENT - OF NEW YORK BANKS . '.-vi!., v-.f New York, May 23. .Weekly bank statement: v Members' daily average cash reserve. 29 35 per cent; reserve, decrease $8. 121,875; reserve, less V. 8. decrease'; $8,. 378, ISO; loans, increase, $17,927,900; spe- CH-. arcreane, i,v:n,iv; legal, aecrease, $1. 0?1. 100; circulation. Increase, $61,000. Members' actual cash reserve, 29.24 per cent; reserve, decrease, $8,720, 00; Increase,: $11,209,500; specie,; decrease, decrease, $11,209,500; specie, decrease, $5,370,800; legal tenders. Increase, $564, 000; deposits. Increase, $16,57,800;- cir culation, increase. $185,004. - Non-members loans, decrease,' $171, 300; specie, Increase, $559,100; legal tenders. Increase, $104,800; total depos its, Increase, $11,990,200; total deposits, eliminating other banks and trust com- ranles In New York elty, increase. $2.. 18,900; aggregate . reserve on- deposit. Increase. 17.617,700; percentage of legal reserve, 33.80 -per osntt ,,. ,,;..,. , i.f " ' ,i- . - : (liicagv Cash Barley.- ' .Chicago, Mar 23. tash barley. CI 9 7c, ,l - ; v . . 1 RUSH' III WHEAT HURTING m Arrivals Almost Up to tho High Figures of a Year Ago XewCrop In. . Onen. Close. May 22. "? 84s , Gain. 'I - -t - May 101 T4 101 July 89 90S Sept T. . . 86 S MTs Loss. Chicago, wheat, 68 May 23. Local receipts ' of cars. At Minneapolis aad Imluth there were only 163 on the day's reports, against 260 for the same day- last week. The decline at Liverpool was rrom Sd to Hd. Antwerp, was un- changed and Budapest 2 Vc higher. May : delivery He up for ctober. July and September closed to Ho up. rrirnary wetern marget receipts wer within 3,000 bushels of what they were the year before. The visible unrlv decreased 943.000 bushels, oom Dared. with 223.000 bushels last year. Sea board clearances of wheat and flouc w-it ini.uiMf Dusnei. isotning was heard In the corn pit of the price for May a few minutes after the opening. with tho nnntn. of the latter deliveries, however, there was less reticence in displaying bull isnness of the prevailing sentiment, and the latter May displayed less tim idity and declined Sc to the Initial price. The market continued to ruler remarkably firm, but quiet at the elose. the gain In May being He and in July Sc. Total of western receipts for the) May delivery was 23,000 bushels short of a year ago. There was no shipping In the sample market. Estimate of Monday s local arrivals were 229 ear. No lmDrovement In t hu in. i,n.tf of oats was experienced today. The de- "".' iirm, dui mere, wag only; trade enough In It to mark that-fact. There was some stiffening in futures, but by a small amount or trading Trade In provisions was light, be cause (Jf the movement In the west off hogs being larger than that of the sim ilar day last year. , .... their price at the yar"ds was reduced 1ft 2on-tit1 of day'8 ruh ln the west was 12,000 larger than that of the like .yri!!Bt year- Week s receipts of hog at Chicago were 99,000. where last year 5-e wr 107-000 received in the same time. Estimate of Monday's local run ta8130000" "d f th neXt we!k' ! Range of prices: WHEAT. Open. High. 101 10JH 8'4 90S . 66S 8714 CORN. . 60S U 63 64 H OATS. Low. 101 H 89jl 63 Close, 10 64 S Mav Julv Sept. July Sept July Sept. 45Mj 4514 3714 list 37 MESS . 1363 . ,1385 37S PORK. 13H2 1387 3714 1!55 1382 July Sept. CHAIN IX SAJf FRAXCISCO. San Francisco, May 23. Merchants Exchange nricen: gsWheat May, 31.6614; December. 1.0 Barley May, $1.48: December,' $1.81. Cash wheat White Walla Walla, 31.68 S; red Russian. 3166 14 turkey red. $1.75; bluestem, II.73S. Cash barley No. 1 bright. 11.434; brewing, $1.60. ..MiL,stH.,f Bran- 31:" middlings, $33.50; shorts. $31.50 per ton. PACKING BUTTER IS v (Ueant Xews by Loogest Leased Wire.) ' San Francisco, May 23. The local market was dull today and with no quotable change in values. There were no receipts. Chicago closed fractionally higher tor speculative business. Cargoes n passage were steady: with only a poor demand. The English coun try markets were quiet. Liverpool was quiet for spot and lower for options. Paris closed unchanged. uecemDer barley closed per cental higher. There was no change In- spot barley or oats and all other articles ia this department remained quiet aa pre viously quoted. The receipts included 3.H5 centals barley and $03 tons hay. No oats arrived. The receipts of flour were 5,731 barrels, and all from Inter ior mills. The exports this montlt promise to be larger than la April. The only change in butter was an ad vance of lc per pound for No. 1 pack ing stock. The market was firm for creameries and No. 1 packing and weak; lor No. 2 packing. Eggs, advanced io per Joien for California seconds and thirds, Kastern seconds were added to the list. Flat cheese was He per pound lower for fancy, closinir firm mt cline. Firsts were steady and seconds weak. Young America was steady. Navel oranges were In comparatively small supply and firmer. . Dealers are not inclined at present to order Valen cia. OWinff tn thm Mtrh t . k south. Lemons and limes ruled weak notwithstanding the very warm Weath- ?E. T?eoe, ",ad ,be 8Uch lar quant i ties of Sicily lemons thrown on V eastern markets this season that Caii fornian have been depressed in prico there, and the receipts in this market ren,81Bqu'Bt,ly ,been larger than re quired. Orape fruit was very firm for seedless. Quite a quantity 't crated loganberries arrived, latef but uomt others early In the day sold at Ue rata ?ies$1.ofdrathtk V,,re,e, Pbrt In" Ultl1 hlfh,tv -Vhsrrti. Pwer in very large supply, tho days recetuta 0l'?upaka,fM ani'he wa? Sree'edlngTa ' er7 T h nt?,d wJ2 ,pp1". wre" H Umlted so p. EJCv.ilGW-. cX?t Pe'ed from the V ! r?,KXdl"tr,p.t next. weak. - gome iL2r J?.wboxe," 0t apricots came .to V? KUh Ptces ranging from $1 to $2, boxes and crates, as to condition and quality. GooseberHes sold at 7ao to 90c per drawee. The. steamer n Jose brought 890 eases of Mexican limes. -, ' ,n feables the day's receipts in eluded 961 boxes of asparagus. 4;1t sacks pf string beans and s sacks of green Deaa. T1ia m. . n, change in asparagus. .String beans ami Memories. ' From the Halllmoro Arnrl.n How the sweet smell of the sawdust. ... "w. 111a roarins or (iS nona, KoW the prancing of tlie' lmrss, s t they ride around the rim: . . How the chatter of the- moiikev-s. nn-i the painted clown old jokiirg, Memories of the Jeys of boyht, bn- k agalo unto us hrlnir. How the thought of tiions long ; f Mow an eagerness long a t 1 . agai Into our in, As we sit In our pis--' - -m-nvh-f: fnats kndi tricks and 11 And feel once more the good old circus r .f 't-.f HIGHER FRISCO