The Oregon daily journal., August 02, 1908, Page 23, Image 23

THE "OREGON SUNDAY JOURNAL, PORTLAND. SUNDAY MORNING, AUGUST 2, 1908.
WEEK
ie:w or finance
LY
RE
WHEAT TRADE
Hill EXCITED
Both Cash and Future Val
ues Advance Sharply
During: Past AVeek.
WHk'i WtaMt PrloM.
Sept. Dec.
Monday 84 U' 85H
Tuesday 84B MB
Wednesday 86B 8TI1
Thursday 86B 8KB
. Friday 86U 87B
Saturday 86B 87B
INDICATIONS OF A RETURN
OF VALLEY TO WHEAT GROWING
BOARD OF TRADE RECEIPTS.
TiRrley
Hour 3-
Hiiv 85
OH is ltf
Wheat 6i
Aug. 1. July
. . . 5
25.
4
9
36
10
37
July
Hv Hvman H. Cohfin.
Trudliifr In the wheat market was of
the excltahle character during the past
week. Prices were bid upward and up
ward on every occasion; there necra
liiKly being no height at all to which
the value for this king of cereals could
not venture. Toward the close of the
week the price of the' cash bluestem had
gone beyond the 9nc mark basis of track
Portland, hut unless the movement Is
cut short dollar wheat In the Pacific
northwest will be a reality within a
few weeks of the start of the season
an! even before half the harvest la
completed.
To explain just what happened to
the trade during the past week would
be an Impossibility, for not even the
traders themselves know the ex,act
cause which started the Initial advance.
Needless to say. however, everyone lf
paving the advance if they want wheat
at 'all for while they are debating over
tue price another dealer will put an
other cent a bushel on the wheat and
take the lot.
right Between Exporter and Sillier
During the week there developed one
of the bitterest trade wars that lias
been encountered here In many years
The fight was between tho exporter
and the miller each uccuslng the other
ot boosting the values; Put earn nev
ertheless outbidding the other In or
der to get the wheat. One exporter
had sold quite a lot of wheat foreign
for early delivery and was anxious
to Ket from under without much de-
lsv. A fraction or two was added to
the mice In order to do the work quick
lv, but this only led to the schemes
discovery bv the milling trade. Then
Fourth of Julv broke loose
At the start of the week the price
of wheat was at 84c for club and 86c
for hluestem. track Portland, but at
the close of the week buyers are pa-lng
from 85c to 87c for club, SKc to 90a
for bluesUm and 83c to 85c for red
Russian. 'There was no regular quo
tation even out of the same house;
values being governed entirely by the
amount of competition on hand at the
time of buying.
On the board of trade price changes
were rather lively during the week.
As compared with the prices that ruled
last Saturday, September Is 8c higher
nnd a like rise Is noted In the Decem
ber delivery at the close. The great
est gain was made on Wednesday when
December advanced 3c a bushel, of
which amount it later lost lc.
Strong' position of Flour.
There never was a time when the
flour market stood in such a strong
position as It does today. With wheat
selling at top-notch figures and grow
ers holding out for still higher prices,
the position of ihe miller Is not of the
brightest. He has run up against high
er cost of production; a very nominal
export flour demand and local condi
ttons which make higher flour prices
ti:ir,l to maintain. However, the Indi
cations at this time are that flour
uill sell at further advances because
the wtieat cannot be ground at these
figures While the price of mlllfeeds
remains high and this Is somewhat of
.i help toward keeping flour values
down it Is nt likely that these prices
' ' ' iff
wr
i
BLACK RUST IS
WHEAT BOOST
Reports From Xorth and
South Dakota Send 'Chi
cago Trices Upward.
HARRIMAN'S CAPTURE OF GOULD
GIVES STRENGTH TO STOCKS
By Thou
(Hramt Ne In
New Voik, Aiit
the week's .low!
mas tlie enpiuie
the Oouid s sleu
rlman gei ihi
s i '. Shot I'll
IHiycMt t.eiiiil Wine)
1 Mosl liniurliiMl of
111 -1 1 1 n 111 Willi street
iv I; 1 1 H o i 'inum of
of r;,'h ...ol Mr Ihir-
Iltl.il lo i iKirig tie-
t he
not
The
World's Wheat Prloei.
Sept.
Portland 86 B
Chicago 92
New York 100 B
Winnipeg 5 B
Minneapolis 101
Liverpool
San Francisco 163
Holiday. December.
Is the Willamette valley to regain its
prestige as a producer of fine wheat? ,
Recent samples received In this city
and reports from the various sections
indicate that not only is the quality
showing an Improvement this year but
more bushels are being produced to the
acre than ever before.
The new seven-headed wheat has
made Its appearance at New Era and ilr.
Stauber, the grower believes that It will
go from 60 to 100 bushels to the acre.
The seed came from the east and only a
quarter acre was grown at New Era
this year. With a producer of this class
it would not take long for the valley
to regain its lost prestige.
The photo shown above Is a sample
of white winter wheat grown by J. S.
Thornton on bottom land near McMlnn
vllle. Mr. Thornton has a tract of 25
Hi res in this wiient and he states It will
go 40 bushels to the acre. The wonder
ful iei fiii nu:iii'o of this grain is made,
too, in spite of the fact that the land
has been 35 years in cultivation and
has been summer fallowed but twice In
the past 12 years.
$800,000 ANNUALLY SENT TO
THE EAST TO FURNISH EGGS
r feeds can
finite period.
be maintained for any
FHO.VT STHEKT REVIEWS.
Urlcf Mention of Many Rusy Linos
at Tratle for Past Six Dnys.
There was a weaker tone In eggs the
past week owing to more liberal local
receipts: poor quality and larger sup
plies of eastern stock could be sold un
der local values.
Chickens wld at lower prices during
the week because of the larger sup
plies. Socks in the hands of retailers
are heavy and they are not disposed to
purchase unless granted lower values.
- Tone In dressed meats was firm all
wsfk with prices well up In the air.
owing to very limited supplies arriving.
The withdrawal of Carmiehael of Sa
lem from the 10c contract market for
bops has left that trade featureless for
the week.
Watermelons are selling about He
lower owing to the very liberal sup
plies from the south.
Cherry season is about concluded and
for the best Lamberts somewhat high
er values ruled during the six days.
Local peaches were rather scarce
during the six days and there being a
like shortage in California stocks here,
th- market advanced In price.
CaJibaee supplies were exceedingly
scarce during tne week and there was
a sharp advance In the price. Some
supplies were brought In from Califor
nia, tint they did not supply the call.
Potatoes are fractionally lower on ac
count of the somewhat better offer
ings the for part of the week. Later
on stocks became smaller and prices
held more steady, thoun-h unchanged
Onions from California and Walla
Walla camn more freely during the week
and prices are down 11.25 a sack for
both varieties
Front street "ells at the following
prices Tho: e paid shippers are less
regular commissions:
Qrain, Floor ana Bay.
WHLAT Buying price, new Track.
Portland Club, fchic; Muestem, 88(
0c, red, 83ia&5c; Willamette valley,
old. 8Sc bushel.
FLOUR Selling price Eastern Ore
gon patents. 14. SS; straights, 40i9
4.55; exports, f 3. 40 p S.B0 : valley. 14.45;
graham, H s. 14 40: whole wheat. 14 41;
rye, 5a. 15 60; hales. $J.
MILLSTt'FFfl Selling price Bran.
I2; middlings, (30 60: shorts. tttr
28.50; chop. 21T1 per ton.
BARLET Fed. 126.60; rolled. I17.C0
C2S 8: brewing. 627.
OAT8 No. 1 white, 127.60; fray. $27
per ton.
HAY Producers price Old timothy,
Willamette valley fancy, 111011 SO;
ordinary, f 11.50 ⁢ eastern Oregon,
116617; mixed. HO IS 60; clover Si
9; grain. 611612; cheat. 111; alfalfa,
J 83 10.
Batter, ZfT a4 Foal try.
BUTTER FAT Delivery f . o b Port
land Sweet cream. rc; sour, .'4c
per lb
BUTTER Extra creamery. J7f:
fancy, 2-c; ordinary, 26c; store, 19
17c
E009 Select fancy, candled. 214 9
c; I'cunarj, i
4?HEE8E Full cream, flats, trt'.lets
By Hyman H. Cohen.
The City of Portland alone Is paying
some 12:'5,000 annually for epgs to East
ern parties that not only could be pro
duced here, but a considerable portion
of the Pacific coast purchases of, eggs
in the east could likewise be taken care
of by Oregon producers. It In esti
mated that 75 cars of eastern eggs, are
received annually by Portland mer
chants. Each of these cars or eggs
cost about $3,000, so It IS quite easy
to see Just where the vast sum Is
going never to return.
The cities on Puget sound which do
not have a home producing territory to
depend upon import from the cast in
the aggregate of 200 cars, every one of
which could Just as well be secured
right here at Portland were Oregon pro
ducers to turn their attention to them
and stop flirting with crops that an
nually show an (sufficient market
i price. It Is safe , to say therefore that
over jyiii.uuo is annually sent out of
the Pacific northwest for eggs alone
that could be more cheaply produced at
home.
A prominent hnndler of eggs in speak
ing of the matter the other day said:
"1 believe that Oregon producers ari
making a most serious mistake in not
going into the poultry and egg business
on a much larger scale than at present.
Every year we are compelled to send
large sums of money for eggs to the
eastern producers because we do not
raise enough eggs at home to supply
wie aemana even witn our unapproach
able climatic conditions.
"If Oregon producers would increase
the ee-g output here they would IIko
nise improve the qualftv. for at present
they hold their stocks too long aud
during the heated period the eggs do not
arrive in the best of condition."
4
CHICAGO WHEAT MARKET.
Pept itO'n 92 80"4H 2
Dec 1)2 (, m B2 li IM,
May D6W 9i fc
Chicago, Aug. 1. Rust, news from
North and Houlh Dakota poured ln by
every channel and the traders were im
pressed by the similarity of the news
to what was hcari during the early
stages of the 1904 black rust disaster,
when the prices for May delivery got
over $1.21. News of anv other descrip
tion was without Influence and prices
continued stead lv to advance
The Liverpool market was closed for
the holldavs of today and Monday.
Trade was very active for an hour, dur
lug which time September wheat lose
from J0H (Ti iin ",( at the start to 91 Vic
There was a full head of steam on near
the close of the session, and the close
for September showed an advance of
KVs2'c for the day. The grains in
December and May deliveries were
somewhat greater.
Corn was Influenced by tho continued
drop over a large portion of the terri
tory where It was suffering. Reports
were again numerous from many direc
tions or damage already done, and taken
In connection with strength of wheat
at the commencement of the session tho
market had a strong start. The new
crop futures were in greatest demand
and they had the stronger advance. De
cember and Maj- both scoring lo ad
vance within the first 20 minutes. Clos
ing prices for corn were near tho best
of the day. and sharply over where they
closed the dav before. Offerings in the
sample market were well taken at o
over prices pail the dav previous.
The effect of strength prevailing ln
the other grains was not lost on oats.
That cereal was ln brisk demand and
the prices had a sharp rise, the princi
pal cause of which came from the sym
Dathetlc bullishness at other markets.
Sample market was firm and prices
higher than they were the day previous.
The demand for hog products was
stimulated by the small run of hogs and
the advance ln their prices us reported
from the yards.
Cash sales:
Wheat Winter No. 2 red. 9293 He;
No. 3 red, 6192c; No. 2 hard. 92HW
94Vic; No. 3 hard, 91r(J94c; spring
NO. 1. northern, 1.161.18; No. 2
northern. $1.141.1B; No. 3 spring,
$1.08 1.12.
Corn No. 2, 78 S 78 He; No. 2 white,
79Hfr80c; No. 2 yellow, 79Hc: No. 3.
774ii78e; No. 3 white, 79(ff9r; No.
3, yellow. 791,; No. 4. 7576 He
New oats No. 2 white, 61 (ff 61 He:
No. 3 white, 49u50e; No. 4 white, 4S
4Jc; standard. Si He.
p
g the
ot i ng
il in
for
ll.ti -
iiNae-
belor.
t'oi
points
lias in
i a liu-
feese, spring, 1012Hc; turkeys, alive,
7c; spring ducks. 1315c lb; pigeons,
$1.25 dox: dressed poultry, llHo lb
higher.
Hops, Wool and Hides.
HOPS 1907 crop, first prime. Be;
prime, 4 He; medium to prime, 3 4c;
medium. 2Ho lb; 1906 crop, 2S:3Ho lb;
contracts, 9a
WOOL 1908 Willamette valley. 13
16c.
MOHAIR 1 907 Nominal, lSHO11
SHEEPSKINS Shearing, 10 it 16o
each; Bhort wool. 26 n' 40c; medium
wool, 60c(g$l each; long wool, 75cnj
J1.25 each.
HIDES Dry hides, Uflic lb; green.
646Hc; calves, green. 810c; kips,
5T7c lb; bulls, green salt, 4o lb,
TALLOW Prime per lb, 34c; No.
2 and grease, 2fi'2t4c.
CHITTIM RARK 3 4c.
Fruits and Vegetables.
ONIONS California. $1.25; Walla
Walla, $1.25 per sack; garlic, lac lb.
POTATOES New. selling. $ 1.1 0 1 2a ;
buying. 85 (& 90c per cwt.
APPLES New, 90ctS$l.
FRESH FRUITS Oranges. $4.00f)
4.26; bananas, 6 He per lb; crated, 8c;
lemons, $4.76u5 50 box; grapefruit $4
4.60; pineapples. Hawaiian. $5 00 Uoe;
cantaloupes, $ 2. 25 'q 2. Sn ; apricots. $1 i,f
(ijl.10; blackberries, $1 50; peaches 7,rc-tJ
90t; pears. $ 1 .50 2.00 . grapes. $1.50:
raspberries, $ 1 .00 ifivl. 1 0 : loganberries.
90cfi$100; cherries. Royal Ann. Sit
6c per lb; Lamberts and Rings, fancy
$2 box; watermelons, Ht 1 lb;
rants. $1.5i) crate.
VEGETABLES Turnips, new Oregon,
20c; beets. 20c; carrots, $1 50 sack;
parsnips, S5c'(7$1; cabbage, $2; toma
toes, 76cSj $l 00 box; beans. 7c; cauli
flower, California crate, 1176&2O0;
reas, Oregon. 3H5c; horseradish,
izlOc; artichokes. ( ) doz. green
onions, 16c per dox; peppers, bell, Sc;
Chile. ( ); head lettuce, 25300 doi.
cucumbers, hothouse, local. 25tjSOc d i.
rafllshes, t Sc dox bunchis. eebrv, 76c ij
$1.25; gooseberries. 5c; fgrplant. luj
12 He; green corn, 2nfi.1ri. ! i.
Groceries, BTuts. Etc
SUGAR- California i Hawaiian Riv
finery Cube, $6 6U, tiowaerea $6 45;
berry, $6 25; dry granulated. $6 25; XXX
granulated. $6.16. conf A.. $6 25; extra
B.. $5.80; golden G.. $6 20, D.. yellow,
$5 65, beet granul.Ved. $6 05. barrels.
I 15c; half barrels. SOc; boxes, 65c ad
vance on sack basts.
(Above prices sre 30 days net cash
quotations.)
HONK Y N"w 15c rPr
COFFEE Pack a ee brands. $1C 50
SALT Course Half ground, IPOs,
II 1 HA lr Inn h(r tl I RH tbh:A rfalri-
60s! $11.60; ion. $1 .; ha;-s. " $2 36;
Imported Liverpool, sc. 2O00; 100s,
$19 00; 4s, 11800; extra fine barrels.
Is, 6r aul 10s. $4 5005 60. Liverpool
lump rock. $20 60 per ton.
RICE Imperial Jspsn No 1. c- No.
$. 6H5Vc: New Orleana. head. ,e;
AJax, ( . Creole. !c
BEAN'S Small white. $4 76: Isrrt
while, $4.75- pink, !$. bsvou. $15:
Llmss 6 V Mexican red (
Meats, riah aa.4 Pronsioita.
DRESS Iw MEATS !-r.t stret
i Hogs, faacy. THyic !b; ordinary, ie.
large. c; veai. extra, c jer lb;
ordinary, lJSc per Ih. heavy per
lb; mutton, fancy, TgTHc l-er lb. sprinj
lamb. 7 1 He lb
HAMS. BACO.V. ETC Purls d pack
Mo-xll hams, to 1$ lbs. 17e per lb;
breakfast ban. llH21Ha 'b; ptcn cs
lie per lb: cottar toll, ltc lb: re-g-ular
short clears smoked lie per !b; hacka,
rooked. 12 H? lb; smoaei short clears.
HHc lh:ciar tll!a. smoked. II He b;
per lb; 6s, 14 He cer lb; RO-Ib. tins,
13 He per lb; steam rendered, 10s, ISo
per lb; 5s, 13 He pertlb; compound, 10s,
9 c pc lb.
FISH Rock cod. 12.Hc lb; flounders,
6c per lb; halibut. 6c Der lb: strlrjed
I bass, 16c per lb; catfish, lie per lb; sal
mon, clilnook. 9c lb; bluebaeks, So lb;
steelhead. 8c lb; herrings 6c lb; soles,
7o per lb; shrimp 10c per lb; perch,
I 6c per lb; tomeod, 11c per lb: lobsters,
i 25c per lb; fresh mackerel, Sc per lb;
crawfish, 20c per doxen; sturgeon, 12Hc
I per lb; black bass, 20c per lb; silver
buieu, ie (er iu; tuacK coo, i lu;
I crabs, $1.001.50 dozen; ehad.'2Hc; roe
I shad Cc; shad roe, 12Hc lb.
OYSTERS Shoal water Bav. Der gal
lon. $2 50: per 100-lh sack, $5.00; Olym
pia, per gallon. $2.40; per 100-lb sack,
$.00'3fl.RO; Eagle canned, SOc can, $7.00
dozen; eastern in shell, $1.76 per 100.
CLAMS Hardshell, per box, $2.40;
razor clams. $2.00 per box. 10c per dox.
Faints, Coat Oil. Etc
ROPE Pure Manila. ll4c; standard,
11c. sisal. 9Vc; 1. B. sisal, Hjn
LINSEED OIL Raw. bbls 61c;
cases. 6:'c; boiled, bt.ls., 63c; cases, 67c
a gal; lots of 260 gallons, lc less; oil
cake meal, $34 ton.
BENZINE 86 deg., cases, 19Ho per
gal, Iron bbls, 12Hc per gal.
TURPENTINE In cases, 72c per gal;
woo'.i bbls. 69c per gal.
WHITE LEAD Ton lots. 7ic per
lb; 5.10-;b lots. Re lb; less lots. Sc lb.
WIRE NAILS Present basis. $2.86.
Range of Chicago wheat prices
nished by Overbeck & Cooke Co.:
WHEAT.
Open. High.
90 H 92 H
92H 91H
9'D4 ."
CORN.
54
Sept.
Dec.
May
lyiw.
90 H
92 H
96 H
fur-
Close.
92,
945g
98
piaceo- the u alias!; m K"aiant
Wheeling ,v Lake Erie noi. an
t() $8, 000. ."Ml. These Holes e,
Wall street to.l.n ,y Ulan A
Harrlman's account, although Mr
rlman does not appear In lie li
tlon officially in unv way.
just neioio sturting on lis western
trip Mr. Ilurrlmaii remarked t i a I rieml
that I'nlon Pucl tic slock would a. Lance
6 points for every thousand miles he
went west of th.i Missis-cm i ilv.-r.
That means 5 points while he is travel
ing between Oinah.i ami i igden. mid he
may go about 5 points fartln i
he returns. It Is something n."
railroad president to travel bv
Instead of miles, but lliirrini.iii
the last year turned himself lai
man stock ticker.
Erie Position Stronger.
The Erie is put in a much stronger
position bl' the deal and the Could rail
road stocks are once more brought be
fore the public as trading Issues. That
Wall street Is glad to see these stocks
revived was proved by their great ac
tivity and strength. That Ilarrlnian Is
growing more powerful was shown by
the further mlvani" ln Union I'ailllc.
The entire Standard OH crowd seems to
be regaining the prestige It lost last
year when Morgan was In control of
Wall street, for tho strength of the cop
per shares has been phenomenal and has
been under the direct leadership of
Amalgamu ted.
Thl. strength Is largely duo to the
sentimental influence of the Standard
Oil victory in the rebate cases. Smelt
ers went to a new high record and held
most of the advance, as did Amalga
mated, Reading. Locomotive and Wa
bash. Pennsylvania earnings show a heavy
decrease in gross, hut the operating ex
penses are reduced so much that the
net reduction is very small for June.
Officials of the Pennsylvania and nf sev
eral oth. r railroads say that thnv ex
pect July earnings to snow Improvement
In spite ot the extraordinary expendl
tures they havu been forced to make
for the month in buying material for
operation. ltiere is reason for heiiev
mg that the steel trust has marketed a
large proportion of the common stock
and bonds which it purchnsed with the
money laid asldo to complete tho Gary
plant. The profit on this transaction
hu,H peep largo and has put the trust
ln such a good position that tho hear
Ish influence of the bad quarterly earn
ings Is largely offset. The net earn
Ings for the quarter were about $20,
OlU). 000. but the speculative earnings
undoubtedly amounted to $5,000,000 or
$0,000,000 additional. Buying of Read
ing continued on the report that the
Anthracite decision under the Hepburn
law would be rendered on Tuesday. The
street claims to have advance Informa
tion as to what this will show.
f.i- t
h 1 1 o -two
W ,11
m i nd.
Do.
dl-
Kould reassert Itself desplti
that conservative people are
K.'tlier In sympathy with it.
essential points about the present
.-treel must always be borne in
one Is that the market at times
this moves far ahead of outside c
Hons. Secondly, the tendency In gen
eii.l business Is really upward. Tie s,
without question urn the two fundi
menial Impulse behind the present
market.
i n the side of the money market tl
week's developments, have been wholly
reassuring. The local banks continue
to gain through the Inland currency
movement to an extent which Is almost
iinpi. cedetitod for this time of year
What little preparation there has been
for the annual crop moving has so fir
not be.n felt. Meanwhile the balance
In tin lordgn exchanges is made hy the
recent extensive purchases or our se-
oiiriiios ln European Investors
In these two ways the export of gold
which ordinarily would have been call
i"i' ir our home money position were
only factor 1ms been postponed. If
entirely.
the
has fieen avoided
.T. YOKK STCX'K MAItKKT.
DESCRIPTION.
3 3-
C.
A III Hi ( 'upper i
Am. C. .t K i
do Ifd
Am. i otton ill
Am. Lo. o. c.
Am. Sugar, c .
Am. Smelt., c
pfd
Anaconda Mlningl
.Atchison, e i
do pfd.
I! O., c !
do pfd
Brooklyn Rap Tr, 51
(an. Par., ( . , i
Cent. Leather, c. 2H
do pfd
Clil. A; Ci. w., c. 7H
C. Mllw. ft St. IM42
7S
40
34"
1 .12
90
4 S H
K7 S
91
92 Vi
51
1 1 4 H
78
40
3-i' '
6(Hi
I32H
H
77
39 '
90'
48 H
87 H
92
92 H
AVEEK OF rXCEHTAIXTY.
FRISCO HI6e FOR
GRAIN QUOTATIONS
Sept.
Dec.
May
Sept.
Dec.
May
Sept-
Ort.
Jan.
Sept.
Oct.
Jan.
Sept.
Oct.
Jan.
. 62-t 62 U
.. 6 63
OATS.
. 44H 45H
. 44 45 1-4
. 45 H 47
P( IRK.
. 1 5S5 1595
. HMO I61111
.166 5 1065
LARD.
. 9 r, r, 9 1; 0
. (u'.5 970
. 937 !'37
it r 1 is.
74 H
62V
61
44
47
46
75
63
62ffeB
45
45
4 6'n
9 I 5
n5 2
912
917
865
1RS2
155
1662
952
962
935
905
912
852
1585
1692
1657
955
9 (i 2
937
905
915
85 2
what would class ns choice fruit has
been very small, and for this reason,
more than anything else, the market has
gonernllv hoi a dull appearance, "he
British steamer L"'d S"fton takes good
iiuantltits of dried fruits to Austra
lasia. There were 750 crates of onions
shipped to N' W Zealand by the British
steamer Lord Sefton. The onion sea
son there being: over, It Is California's
turn now to meet their requirements.
The market for potatoes and onions was
unchanged t .day. For all other articles
the market uas weak, with a downward
tendency.
Money. Exchange and Metals.
New Y"rk:- Aug, 1 Sterling Cables.
457-.I 487 in.
days, 4S6 3.V
demand.
4-5 40.
4S6.S04S6.55; 6,0
snd daisies, 14 He. Younf Americas.
liUe.
roiLTRT-Mlinl rbtcfeens. II e j shoulder, lie pr lb; pickled tmpf
fsnry' Bans. 12He: rooatera, old. 70c eack
c; fTjera. lac; brollara, 16a U.' LOCAL LARD Ket Us leL 16a. l
ill. nrfit Nti by Iuffent Ixited Wlr1.)
San Francisco. Aug 1 The specu
lative market was Higher today, and
spot prices were firm There was little
or no trading on change hy sample.
Some business Is l.eing done in the
. oui.trv. Tho receipts were jS0 centals.
I and mostly from tl..- east No receipts
were report, d at L'ort Costa.
The barley situation was perplexing,
alike to Puyers and s, Hers, and all were
-iuaUy umeria'u as to the immediate
fut .ie WM;.' the ;.ot market Rppeared
w.aktr on the surface and was dull,
iher,- was tlie probability of a better
tone on Monday December opened
lower but 1 I. ed higher than on Fr'
.lav The receipts were K.66n rentals
loiaily nr.1 22. Inn sai ks at Port Cos'.i
The export demand Is row a leading
factor In the market. A ti of new
crop bis. k oets wm reported at $2 11
per centsl. The market was Mill un
settled ror IMS Rilrtv I here were
no reported ehai.gis in cth r klmls.
Th receipt, wore nr,! 150 centals
Receipts of fl uir wre 1 454 barrel
nnd all from Interior mills Tl er-
-re no rrp rtd har,gs.
Kggs were firm nd generallv higher,
extras sdvsnring 1H ""r, 1 r d'.en.
finite And eerorion ir snl eastern e. -on-
He Etm 1cj1 tr added
to th il.t Ru'tfr serf rU were un
rhutitci teth a tr tore of the market
and frloes Cn chsnge 2 -eases of
utrt ecas sold at Jle per dosen and
ie raM t )Hr
Wol touch tt hr-en eld of lete
ri t the market tln vrodi with
poor fruit, and which is a fact, there
bas reen t the mtre time s fatrlv
demand for a-od fveschen. apelrots.
grr B"d melons For poor qualltv
of anv fctd dealers STe bad a struggle
t (l aJtr prtc- The rceataa of
. I
New York,. Aug 1. Copper -13W13Hc:
electrolytic, 12 'if 13c ;
Ings. 1 2 4j 1 - 4 c.
I end- 4 4 55.
Tln--$30 50 a 31.
I-ake.
cast-
Bar silver N
M 3-16d.
w York, 52c. London,
New York flank Statement.
New York. Aug 1
R serves. -".1 52 per
Bank
cent.
1 Rf scr es
! do J e ms
Loans
Spe, 1.
Lf ea i s . . .
I r posi T s
Clr - illation
Decrease.
1 S
statement:
Increase.
$ 2.567.325
2. 562. 825 ! fl
2.303 ;.u0 th
Stock Market Tasscs Throngli a Very
I'erjexlnK Period in New York.
Tutted Pr Leased Wire)
New Yora, Aug. 1. The stock ex
change has passed through a week ,if
uncertainty, but what misgivings there
have been had to do not with outside
conditions so much as to the Immediate
position of the market itself. At inter
vals It has looked as if the market was
hesitating and as prices for most of
the stocks which have been lending the
past month's advance had nbout reached
their top for the lime being at least.
I'radlTig grow less in volume and con
fined Itself to specialties. It having
long been clear that the copper shares
were selling out of line and that Im
provement fii other directions, Ihe group
of copper securities become the lavor
Ites of tlit speculation.
There were special reasons for the
upward movement in the long neglected
tjruild securities. Positive intimations
were given of an Hlllanee with the
Harriman interests, the latter furnish
ing tho assistance in the way of credit,
of which the Could system stood badly
In need. The crisis so long threatening
the Wabash company because rf Its
guarantee of the Wheeling ft Lake Erie
obligations has thereby been safdy
passed. It goes without saying thaf a
connection of any sort with the Harri
man party will be Invaluable for the
Gould roads In the wesl. The Harriman
companies will benefit If the new West
ern Pacific becomes a friendly rival Li
stead of a bitter enemv.
Right at the close nf the week the
aspect of the money market was abrupt
ly changed, and from a -ry Irregular
movement active Inning was resumed.
Developments of the last two days have
made It clear that the forces back of
the stock exchange rise are too vital
and powerful to be r.adily stay.., nnd
It begins to look as if the upward drift
1 'hi. ci Norrhw
I 'lii's. & Ohio. . . .
Colo. F. ft 1.. c. .
Colo. Southern, c
Col. South. 2Df.
do lpf
Corn Prod., c. . .
Del. ft Hud. ...
D. ft R. a c
do pfd
Erie, c
dr 2pf
do 1 pf
Ort. North, pfd
111. Cent. ......
Louis & Nash. .
Manh. R y . .
Mex. Cent" IV y
M. K ft t., c...
do pfd
Distillers
Ore Lands
Missouri Pac
National Lead . .
N. Y. Central. . . .
N. Y., Out. ft W..
Norf. & West. c.
North American.
Northern Pac. c.
Pac. Mall SS. Co.
Pennsylvania Ry.
Peo. , L. C.
Press. Steel Car c
do pfd
Rending c
do 2d pfd
Ren. I. ft s. c. . .
(Jo pfd
Rock Island c . . .
do pfd
St. L. ft S. F. 2d p
St. L. ft 8. K. 1st n!
St. L. & S. W. c!
St. L. ft S. W. p
Southern Pac.. c
do pfd
Southern Ry., c
a,-, r.lM
,o to,., iUV
Texas ft Pacific ? 2R
, St. L. ft VV.. c.
do pfd
I'nlon Pacific, c.
In pfd
I. 8. Rubber, c. .
do pfd
U. S. Steel Co.. c.
do pfd
Wabash, c
do pfd
W. l Tel
Wis. Cent., c...
do, pfd I
Wheeling Lake . .
YVestinghoupe .
mo
43H
3214
32 H
62
62
ic
67H
24
31
137
142
109H
63
174H
28H
' '7H
1143
1B0
43
33 .
32 H
62
62H
Hi)' '
'67V4
24 -4
31H
left
143H
109H
31
63
36
68
57
ih
iii"
125
94-H
33 H
122H
84
21
74
18
33
27
19"
42
83 V4
77
39 H
101 H
33 'a.
55 V
131 H
89
107
48
87 H
9 1
92H
80
52 i
173 H
27 H
6,
7 7 Vi
1 4 I S 1 4 1
159i 159 j
3 3 H
Do,
132
89 h;
'47V
87 H
91
92
61H
173
27H!
4 3'-.
32 V
3 2 H;
52 I
62
169
'66
24
31
40
137
142
109
4 3
32 i
32
52
62
19
168
27
HEtV LIFE IS
GIIIEH RAISERS
Livestock Industry Will Bo
rx iirlitted Iy w Order
of Tliinps at Yards.
P' lt I'LAMi
Past teelc ....
I'rev ions week
19(17
19mi
1 9 11 5 .........
LIVESTOCK RI'N.
Ilogs. Cattle.
.5(i3 798
.261 1415
52 1 7 70
.113 406
. 9U 684
Sheep.
3889
146
1517
1401
1925
31
63
"!
68
76
4 2'
74
142
26
126
94
33
19
f 60
49 H
155
8:i
31
98
4 5
109
1 3
2S
55
2 2
10
78
123
8-1
21
74
18
34
27
'iii"
43
93
31 H
03
36
67
72
108
42
73
14 1
26
125
94
33
19
60
26
60
166
83
81
98
45
109
13
29
86
22
10
78
122
84
21
73
17
33
26
18
41 H
92
11
49
25
49
164
83
31
97
45
108
13
28
652
10
78
24
31
40
137
143
109
1138
16
31 H
63
37
67
57
"4
74
65
141
25
12
94
33
95
122
84
21
74
18
33
26
61
18
41
!)? TL
ns
18?4
49
25
20
49
155
82
31
! S
45
108
13
28
65
21
42
10
78
Itv llyman II. Cohen.
Portland I nlon Stockyards. Aug. l.-r
Today marked a period ln the livestock!
market that menus the beginning- of An,
entirely new era a new deal s nw
life to'the livestock Industry of th Pe.
clflc northwest.
Today the market threw off Its let
ters for the first tlino as an entirety
and stood clone a free and competitive
market. Today marks the beginning Of
Independence of market prices frao
from domination hy any interest for
today for the first time and likewise
for the Initial appearance on th Pa
cific coant.. Portland is a real COm
petltlvo market.
H. ginning thls'mnrket as previously
announced In the news reports 01 1 no
Journal, all the livestock business en
tering the union stockards of Portland
is taken charge of ny independent.
brokers who sell on commission. With
the change In conducting' the yards.
P. (Jould. for two years assistant
manager of the yards anci Known
throughout eastern Oregon, Washing
ton and Idaho, resigned his connection
with the company and with a former
buyer for the I'nlon Meat company
here started the first livestock com-
mlsslcn firm at the yards. Other firm"
were organized In quick succession and
within a short time the new method or
treillng will he running smoothly and
hen producers will begin to receive
rcnl benefits In the prices they secure.
With the new system In vogue. It
will be cheaper for the packers to pay
higher prices to producers than to send
their buyers out Into the country under
enormous expense. Oradually the buy
ers will be retired and Instead of hav
ing a number In the field each concern
will have one man at Portland who
will attend the dally sales where there
will he competitive selling.
Should Raise
Those producers
More Hog.
who were holding;
Total sales, 476,300 shares.
back from enlarging their hog-raising
operations ln fear that the talk of Swift
ft Co. putting in a large and up-to-date
plant at Portland, can go right ahead,
for the work of building the plant has
already started on the peninsula and
the work of construction will be rushed
with all possible speed. Now that tho
stockvnrds have been made a free for
all affair in every sense of the word
It Is quite likely that SWartzschlld &
Sulzberger will soon announce the lo
cation of Its new plant on the penin
sula. With these big plants ln opera
tion here much more livestock will be
needed for tho local plants are equipped
to supply the entire Pacific northwest
with meat.
Kevlsws of the Win.
During the past week there was a
very firm tone in the hog market and
prices are showing; a fractional advance'.
While receipts were heavier than a
week ago they were very small Indeed
and manv more head would have been
welcome at prevailing figures.
While the cattle market Is steady,
the price Is not showing any Improve
ment because of the very poor quality
of arrivals ln general.
Sheep are showing lower values be
cause of the much heavier run than
expected.
A year ago for this same week all
lines wore firmer with higher prices
generally the rule.
Official stockyards prices today:
Ilogs Rest stuff. $ii.75: blockers and
China fats. $6.0016.26; stockers and
feeders, JS.OOti 5.50.
Cattle Select eastern Oregon steers,
$4.00; ordinary, $3.7503.85; medium
steers. $3.50 ft 3.75 ; prime fat cows.
$3.00; medium cows. $2.50ig2.75; stags,
$2.50ia;2.75; bulls. $2.no&2.50.
Sheep Best wethers. $3.25: spring
lambs. $4.O04.25: straight ewes, $2.25
fa" 2.76; mixed lots, $3.00. i
S. Government Bonds.
York, Aug. 1. Government
Ask.
104
I
New
bonds:
Rid.
Twos, registered 103
do coupon 103
Threes, registered 100
do coupon 100
Small bonds 100
Fours, registered 120
do coupon 122
Twos, Panama 101
100
101
i ? i
123
102
FRENCH FA Ik MS
From
702. .",00
53 1.400
.413.1110
ti 1.600
th Iticli I,midovt iter
Half Slmre M:in.
From the (luting
In France there is
farmers.
The great landowners " need
consider. They are not in their fl
They are idling, gamine
tics ln Paris. rhey 1 . 1 1 1 1 1 1
bv the thousnnds. Take
Rothschilds, for Inst.i'.
400.000 acres of land 1 d
finance and many g n:l-r
houses are mnt. rs .1' :
Such "farm.! h" as tne
head of the hlerar.-h'-.
baron, the suit l- m in 1
lands are exploited In tl.
nesslike way that 1 1I1
wheat farms of the gt.
Let us go down do s. i!
der conic the f .rnn r k- i
middlemen. Th.'v ar.
who stun-' bet w. n t :
whom they rent n I .: Ire 1
the tenants to whom 1 '..
of them have , . r tut n. 1 11
f.-irmer general Is an int. 1 : 11
'ite.
At this point in the :igrl
jirciiy conns Ire :i:m who
Ids. The l.'irni t . uss I
mo who n-i.l t.e'l f
Er.gl.in.l from s -me grea
to the
Magazine.
a hierarchy of
not
Ids.
talking poll
tlnlr acres
... French
1 he v own
n-iri.ns f
ef molent
' I . -stales
i, r. at t'ie
fa ' Ml in
nr. Their
busl
llcale v est.
in or
ev ar.
ta.1 'sis
(mm
s and
Few
The
par.i-
be called away to work ln the owner's
fields. He must make all repairs. H
must dig trenches wherever the owner
sees fit. He must supply all the straw
ami hay the owner re.pitres and send
to his kitchen eggs and butter and veft-
Ifogs fit ron k in East.
Chicago, Aug. 1. Official run:
Hoga. Cattle.
Chicago 7.000
Kansas City 4.(100
Omaha 5.000
Hogs are strnny at yesterday's clos
ing prices. Left over yesterday, 2.100
Receipts a year ago were 11.000. Mixed
$S.25ratl 70; heavy. $6.75 7. 10 ; rough
$6.26(&6.55; light. $6.307.00.
Cattls and sheep steady.
200
200
100
Sheep.
3,000
'600
etables ln season. He must allow all
or any of the owner's laborers to conk
their food In his kitchen whenever such
laborers are employed nearby. And .
lastly If the owner finds the work 111
done he mav hire outside laborers and
send them into the fields, for which the
"half shares man'' must pay.
N
1 1 e
..nd.
s r
n..rt
. vt
I'll-
li.11
ultiiral hi.
Chanftc- for the Bettor.
From the Washington Sf.r.
Miss Lilian H Hill, the alvertislrg
expert, said it a clothiers' banquet ln
(Jrsnd Rapids
"1 am glad v.v.i riot Hers now adver
tise, r.ow prir.t pic-ares of men and
ho b fashions Thus you smarten up
the country, rd iiin help to at.eh
the cuiting down of the fathers clothes
for th' son.
"You hsve educated eur lttt boys to
dre. sr.d fw of lhr-i could bear to
wear the'r rsthers s;rnents made over
hv mothers' awkward hands as In Jay.
of yor
'It was not s:a so I remember
how In the d'stsrt pst my little
brcither rushf-d whimpering Into my
room one night
"Oh. dear he whlmperd. "p s had
his brd shaved off, and row I smess
It got to wr the old r3 thing.'"
f the I- be Ion g at
goo.) he fates n-'t ill
slock and in. nli niep t s
ell t , do He .-mid-c,
laborers, sheotier.ls Ai
ls becoming the type
farmer, for the small
d t1.-
He
I -'I ,
'1
It ,
lxT irakes the world go around not
to tnenUen making a large part of it ge
brok.
if il. French
wiier- he w r
Is k I v i r: g w n v
before th1 universal tendency lowarl
concentration ewn f.i the little shop
keeper la betne destroyed by the all ah
sorbing department st- :e
In a sr.-at measure this man is in
dependent Twi--.- a .r he pais his
rent, prohahl;, l-e rns his farm on a
lease of 11. 1 ,-, six and nine ftars 1.
Is master in his domain H" iti.u seli,
buy. sow ar.d g-rnr as he will Per
haps his ereat.-st difficulty is in pro
curing labor-rs f -i 'he yonr.g men go
to the ( flies to the fa. torie. so h j
i-ltn him I
CONDENSED STATEMENT
BANKING DEPARTMENT
Hartman & Thompson, Bankers
At Close of Business. July 15, 1908.
ASSETS
Loans an'i Discounts
Bond. Securities, etc
Ron! F.statc
Furniture and Fixtures
Cash on Hand and Due from Banks.
50. 13-4.? 2
J?. 732.95
2..211.54
8. 174.315
6-1,354.25
Capital . . . .
Surplus and
Dej-o.-its . . .
LIABILITIES
Undivided Profits
$173,60:.S2
.$ 50,rkV).00
7,556.28
. 116.051.54
$173,607.82
works from diwn dusk and
In the filj his women work
Iwer in the sra'-e is th farmer who
works his land on snares, receiving one
half of the pr..d i ' His farming U
don under the lire tjon cf t'., owner
or farmr-gcr.r?.l This Is tho method
In veKU at FrMtrs. the great estate
of the Baron H--ilirhi;-,l Ir- the Seine-et-Martie.
t' ial! but a small farm Is
alloted to th half shares man."' In
reality ha is the serf of the nt legirne
for financial -feudality has - irewerved
nssriy of the old S"rrittdea of the soil.
la th first pac he may at asy lint t
Overbeck & Cooke Co.
Comnissica llerchials. Stocks. Cools. Cetloa. Grain, llz.
216-217 BOARD OP TRACK fiUILDINQ
Memtxr Chicago Board of Trade, Correpoidt -si Lofta At Erjro,
Cbicaro. Nw York. Eos lorn.
We bTt the only pmate wfr eonaectieg rortUnd with th itrf
ackaeg-e.
. MEMBER POTl-AKD HOARD Of THAT Ti. '