11
.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