The Oregon daily journal., November 29, 1908, Page 58, Image 58

10
THE OREGON SUNDAY JOURNAU, PORTLAND, SUNDAY MORNING, NOVEMBER 29, 1908.
WEEKLY-' REIE
W
m
ARTIFICIAL TURKEY
, PRICES BAD FAILURE
Efforts of Big Retailers to Do Things Ecsults in Compli
cations Which Will Hurt Producer Storage Birds
to Compete With Fresh Ones at Christmas.
Bt KTOW & OohM.
' Turkey producers received better
price for their Thanksgiving turseys
' this year than they would had the mar
ket been natural.
The big buyers who had paid quite
' i liberal prices for thelr4 turkeys by con
trading tor them some weeks ago,
bought more turkeys than they could
use. The result was that in order to
' save themselves the biff buyers placed
- . an artificial value upon the market, ana
, ' to some extent saved the growers from
' suffering heavy losses. . .. vl
r It was not the intention of the big
, buyers to do this boosting; simply to aid
the producer, for every buyer will try
to secure supplies as low as possible.
, Tied up with fully double the amount
. of birds that could be moved at prof it
i able prices, the big retailers spread the
5 misinformation that there would not be
f m aiifflAUnt amnunt tit hlrds tO KO
t, around, and that prices would climb to
the highest point In years. This scared
I . the small retailers Into purchasing
J yrvthlnir In aisrht on Front street, and
j. the result was that the big retailers
! were therefore protected from price cut
i tin by the smaller people for the latter
. had paid higher prices than the big
nnM .miiWjafYnrA to sell At.
V" However, there was one Important
,, Item that the big manipulators 01 tne
turkey market failed to take Into eon-
r 1 sideratlon that . was, the public The
9- nubile ilwavi fickle, was more so this
Thanksgiving, snd the enormous values
set y tne ig reuuiera aia not rami
, their views. This caused a heavy de
l' crease in the buying, with the result
1' that almost half of the turkeys remained
I ' unsold and were later put into storage,
j' While helping the producer in one
way the big retail buyer hurt the tur-
kev market more - than they believed
i ' possible. Had they not manipulated the
" mamec ana set an aronrary price upon
t it the result would have been that in
stead of a large number of birds going
into the storage houses, every one of
them would have been cleaned up and a
' real shortage of supplies would have re-
J CUlted - ..
Had the big buyers left the market to
i take Us own course and Instead of try
, ina)a'cAiwr.ba4ipj(er'4mlir.
! taken the amount they usually handled,
" a large number of birds would have
. found their way to - outside market.
; Many orders from the north were turned
5 down just previous to Thanksgiving.
owing1 to the "cornering" of supplies of
' big retailer. The result was that while
; prices here went to pieces at the last
; moment, tip north they - were outrag
eously high simply because they had
c not received within half of their normal
. supply from here. Had the Puget sound
i markets secured aU the Oregon turkeys
,- they asked for it is quite likely that
the prices there would have been from
d 6 to 10c .lower than they were. :
One bad result of the "high limits to
f Which retailers artificially put the mar-
ket here Is the fact that everyone of
j i these birds which were put Into storage
owing to lack of buyers at Thanksgtv-
jng, will be brought forward at Christ-
mas or New year's ; to Compete" with
fresh arrivals, this Insuring a lower
, . market than would have been the case
i naa me Boosters Jet supply ana demand
s govern as they should. i
i Another : bad result of the artificial 1
J Thanksgiving prices and one that will i
cause most trouble is that the general
public will not be In a hurry to buy
turkeys for Christmas. This will leave
the market stagnant until the last day
or so before the holiday, and If prices
are high at that time It is likely that
they would be still higher had not the
"corner" been planned and been defeated
so badly.
COUNTKY SHIPPERS
PAY FOR KNOWING
ABOUT THE DEMAND
Country shippers made one of their
usual fatal mistakes during the past
week when they shipped so many coops
of chickens to market Warned and
warned again and again that this is the
worst time of the year to make ship
ments of chickens to market, no matter
how short turkey supplies are, they sent
more ooops than ever during the 'six
days. - This resulted In holding the
market down to the last notch, and may
cause low prices to rule for some time.
The time to ship chickens to market
when the public wants them. Commis
sion men know this, and through the
newspapers the word Is annually carried
forth to the farmer and shipper, but to
no avail. He will persist in thinking
that a man miles and miles isolated
from the market will know far better
what the public wants and when it
wants if than the person who handles
supplies all the time, or one who daily
feels the pulse of, the market and de
mand. .
Eggs advanced to 40c a dozen during
the past week because of the smaller
supplies and the greater demand In fresh
stock for the Thanksgiving trade. East
ern eggs were likewise advanced.
Creamery butter la up another lo a
pound, and within c of the highest
price reached a year ago. or within the
same amount of the highest value
reached in many seasons. The reason
for this la the growing deficiency of
local make and the growing demand.
More carloads of eastern butter were
imported through the Pacific coast
states than ever before thia season bI Tri
ply- beewase) local producers will not in
crease their herds.
FRONT STREET AFTER THE JiUSII
7' ! 1
J ! h t 5 - 'i ) ; -, - "
r
SENSATIONS PROMISED
IN SOUTHERN PACIFIC
Short Interest Enormous and Issue Is Liable to Have
Five-Point Movement Any Day Insiders in the
Steel Trust at Wrar Witl Each Other.
SILVERY LINING TO:
ALL LIVESTOCK CLOUDS
Demand Is Better in All Lines4)f the Local MarketFin
ished Hogs Are Hard to Get and for Thai Rea
son Price Range Is Not So High. .
PORTLAND LIVESfoCJC RUN.
Week of Hogs, Cattle
Nov, 2g 2229 967
Nov. 21.;....., .2935 1098
Nov. 14.. ...., ,2945 979
Nov. 7...... ...177
Oct J1......4..1693
930
1183
Sheen.
7 Oil
293
966
921
2301
BRIEF REVIEW OF
THE WHOLESALE
. TRADE OF THE WEEK
There were a number of trshxartlnna
in' hops during the week, but in no In
stance was the price within a half sent
of last week. This is now owing to any
change in the market, but to the lack of
transactions In choice quality. The
latter are urm.
The advance in eggs this week was
due entirely to the smaller supplies.
r-oisio irauo is iromm&i, wun no out
side market in slsht for Oregon stock
at present prices just now.
unions are steadier here, with a firm
er tone ruling in the south. No change
in prices.
but the market is firm at unchanged1
prices.
JAPAN MILLING HIT
BY AN OVERPRODUCTION
Flour Industry of the Islands Suffering From Too Heavy
Operations Consumption Is Growing Rapidly
Effort Made to Secure Rebate on Wheat,
The following article from the Japan
Chronicle on the flour Industry of japan
Is sent by United Btates Vice Consul
' General E. O. Babbitt of Yokohama, and
Is of much interest to Pacific coast mil-
lers as well as wheat producers:
As reported in these columns on sev
eral occasions the flour market' In this
: country Is at present suffering from an
i oversupply, and the owners of the flour
mills are much exercised over the means
of relieving the depression of the Indus
try. Proposals as to the amalgamation
, of mills and an agreement as to the
Quantities of production have been put
orward, but nothing definite has been
decided upon as yet.
. Mr. Moroi, director of the Flour Mill
company, speaking with reference to
the flour Industry, says that the de
mand for flour in Japan has greatly in
creased during the last few years. At
present the total value of flour import
ed amounts to something like 10,000.000
Statement of
N. Y. Banks
yen ($5,000,000), whioh is almost a ten
fold increase compared with the figure
a decade ago. prior to the late war with
Russia the production of the domestic
mills was only 1.500.000 sacks or there
abouts, but the industrial boom subse
quent to the war brought a number of
large mills into existence. The annual
output of these new mills is estimated
at ,500,000 sacks, approximately, to
wnicn, aaaing tne production of the old
mills, amounting to 1,500,000 sacks
brings the total up to 8,000,000 sacks.
Details of the annual output are shown
in ins louowing rigures:
Old Mills.
Cel..
fapPOfoSeifun 240,000
Shlralshi Seifun.... 78,oo
Tendo Be fun ninn
Kumagaya Seifun 78000
Dal Nippon Seifun Utsunomiya
xt ;- 120.000
Nippon Seifun '480 000
Moji Seifun, Kanagawa o0O0
MsBhln Seifun (Yatebayashi) . . 120.000
N agoya Seifun 1 2 olooo
120,000
60,000
New York. Nov. I. Ttin wulcl
statement of the associated banks for Nisshln
five days snows:
- Reserves on all deposits, decrease, Jl,-
Reserve on all deposits other than
United States, decrease, $1,667,050.
, Lrfmns, increase, $7,714,000.
Specie, increase, $1,034,700.
Legal tenders, increase, $331,000.
"Deposits, decrease, $2,359,200.
Total loans, $1,340,537,100.
The surplus of the hanks is $30,338.-
016. as against a deficit last year of
;;. tS!m;:& ana a surplus two yer.rs ago
Of U.449.12&.
BOSTOX OOPITER MARKET
(Furnished by Overbeck & Cooke Co.)
Boston, Nov. 28. Official bid prices:
Amalgamated 85S!Nippisa"tng ... 10
Adventure-... iNortJi Butte., tlu
Allnuex S4fKat Butte,.-. 7
Arcadian ... 4jjOid Dora..... 68g
Atlantic . ISHlOseeola 125
liuFton Con., J!Parrot i
mitte dftia.. zs!-noneix .....
Ulack Mt.... SMQuiney ...... 88
I A Heela.SSS
fat. Aril.. 121
Centennial .. Si
f. Kly 8
!ly West.;. II V
r nnufclyn it
(iiroux
Mx-hiren .... 15
.'iii.iianit. .
.Vf Con.
. wlsoiine
Royal ...... 24'zi
Sup, A Pitts.. It hi
Tamarack . 85
Trinity ..',. 17H
United 14 Vi
I'tah Mining. 4
1'tah ..urtii -.
Can,, H!Vlctorla
..,$ 6-1 ; Wolverine; ...150
... 15 Winona ...... 174
... JO Yukon .....413-lJ
.1. !U. K Mn..,.. 4H
... if S V. S. OiI..i.. 2J
.. - .
Mauda Seifun. Osaka -
Gotanda Seifun. Hiroshima...
Total 1,536,000
Krw Kills.
Dal Nippon Seifun. finnCiwi
NlpponSeifun (Meljl mill) 86o'000
Nitsshln Seifun 4o nnn
mull aaa
?S"tak",.?elfun "oiooo
720.000
"''FU o-imn.i RiA AAA
Masuda Seifun, Kobe 1 500 000
Asahl Seifun, Kyoto !! 120 000
Nippon Seifun (Hyogo mill)... 840!000
Total 6.840,000
I i.i r; .-I1 VhfM Markrt.
. N v l -wipst c!"e:
Grand tbtal 8.367,000
The protection given bv the govern
ment after the war by raising the duty
on flour to 80 per cent, while leaving
that on wheat at 16 -e.r cent, is chiefly
responsible for so many mills coming
Into existence. The consumption of
flour in the country at present is rough
ly estimated at 8,000.000- sacks. The
quantity of the supply, on the other
hand, is put at 10.700,000 sacks. Includ
ing 8.400,000 sacks of the machinery
mills and 2.300.000 sacks of the old fash
ioned water mills. Thus it will be seen
that there is an oversupply of more
than000v000 Backs 'P4"- from the
truatitity of flour that may be Imported.
In thfae circumstances, it is natural
that the mill people should look to the
Chinese and Korean markets for exten
sion of the trade. They are of opinion,
however, that so long as a rebate of the
duty on wheat is not allowed 'When it
1 exported as flour after manufacture,
the Japanese article will not be able to
successfully compete with American
flour in the foreign markets. The cost
of production of flour in the United
?ute" much lower than in Japan,
and although the Utter enjoys an ad
vantage in the matter of raio-kt m
cab hardly give Japanese flour uffi"
c-ient opportunity to beat its competitor
loathe foreign markets. For this pur
pose the Japanese mill owners have pe-i
titioned' the government to allow them
a rt-itat of the dety on wheat when it
is -TiM.rtfd flo.ir ' .-
(Hearst New by Ineest Leaned Wire.)
By Thomas C. ShotwelL
New York. Nov. 28. Professional
operations today increased the certainty
or an upneavai , in me maraei. nie
short interest In Southern Pacific Is so
freat that the stock is liable to leap
0 points any day. Some very strong
operators are caught on the short side
and It is understood that they are
planning a raid early In the week. If
this raid" Is attefttpte tt- wilt be one
of the times when it will be absolutely
safe to buy stocks of any Kind. The
shorts are trying to drill into a dy
namite bomb. Consolidated Gas fur
nished most of the excitement today,
fluctuating wildly between 167 and
162. Alton and Clover Leaf were Ac
tive and strong on earnings. A pool
fn Missouri, Kansas and Texas ip cir
culating a rumor that Alton is going
to buy that road but the report is of
ficiary denied.
There Is a merry war among In
siders of the Steel Trust. It seems
that Andrew Carnegie, holding first
mortgage bonds of the trust and having
nothing to lose by a fight has crltlsixed
the management of the great corpora
tion. Officials of the Steel Trust being
compelled to keep one eye on the stock
tlcKpr to protect ineir speculations uiu
another on the mills to: hold their Jobs
are too busy to talk. But it is said
that the cost of making rails has in
creased several dollars a ton through
a decrease in labor efficiency, in the
old days Charles M. Schwab and his
fellow managers were In personal con
tact with every workman and the. out-
nut ner man was much greater, con
sidering the machinery used, than It
Im todav. The Wall street development
of the trust has put the making or steel
into the hands or some very aoie law
yers and brokers, leaving some or tne
most expert steel makers without em
nlovment. If Carnegie should round
up the unemployed steel experts, he
could start a rival trust and would make
tariff reform a secondary consideration.
There are vague Jjints that Morgan
and Carnegie are not working In com
plete harmony. Carnegie's magazine
article on tariff reform was a body
blow to the trust. Carnegie's refusal to
testify before the tariff commission is
believed to have been In answer to ap
peals from Wall street to keep still.
The present directors of the steel trust
nave certainly naa tneir opportunity to
get rich and it does not necessarily
follow that they shall inherit tne King
dom of steel forever.
PRICE BREAK WAS
FLAN TO STEADY
THE STOCK MARKET
New Tork, Nov. 28. The best readers
of stock exchans-e movements are agreed
that the setback in last weeks market
was dr-siemed and nrobabiy encouraged
by the largest financial representatives
iii the country, to allow the accumula
tion of stocks sold out on the first great
upward rush which, followed election
day. As always happens wnen repur
chases of this character are In progress.
every effort was -made to mane the de
cllnine tendency as serious as possible.
Rumors of a disturbing sort were dili
gently circulated regarding individual
stock's and the financial position gener
ally. Outside matters, like foreign poli
tics and the tariff agitation, were magi
flea as much as possible as an influence
against the market. Finally everything
was done that could be done to create
the impression in the public mind that
the advance in prices had outrun the
improvement ana had Deen accompnsnea
by a wholesale transfer of securities
from strong hands to weak.
These efforts at intimidation met with
a considerable measure of success. The
excited public speculation was checked
and professional Wall street Induced to
commit Itself very freely to the selling
siue. The leading stocks were driven
down the logical distance for a "reac
tion," competition on the part of out
side buyers was .discouraged and a short
interest of respectable dimension erect
ed. On the first day of the week when
tne board room professionals bent their
energies to break prices, they made no
headway and on Tuesday, when short
sellers endeavored to coyer their con
tracts there came, as waa to be . ex
pected, a violent rebound. - -
At the close of the week the market
appeared to have assumed once more a
definite inclination upward, under the
same powerful auspices guiding
it for the past six months. In vari
ous respects the dealings were a good
deal altered from those of the fortnight
following the third of November.
Investment capital no longer played
the conspicuous part. The -buying
ceased to have the spontaneous quality
that betokened an eager rush of the
general public It-had, instead, a dis
tinctly manullpulative appearance, con
centrated on a few issues at a time and
causing, therefore a very irregular, and
at times, erratic price movement. Nev
ertheless,, the wiser heads of the finan
cial community were willing to ac
knowledge that thla waa a safer kind of
a marKet man tne one or a rortnight
ago. Oj tslde speculation, if allowed to
go on at the pace it waa then maintain
ing, would have invited sooner, or later
a . disastrous collapse. The market
would have gotten- out of control and
the ensuing spectacle pf -demoralization
might -have had a very unpleasant reac-
tiitn upoa business . conditions on the
ouiRjde. From the point or view or sta
bility and improvement alvng safe lines
the present state of affairs Is undoubted
ly better. Operations for the rise may
have a forced and artificial appearance
that they did not wear in the early part
of the month, but the manipulation is
in strong hands and its main idea is to
restrain speculative excesses and make
the progress slowly. Very little stands
forth in the present outlook that threat
ens to weigh against the underlying
forces pf trade- Improvement which, be
gan to be so manifest after the elec
tion. - -
This week's revival- in a mild way
of the Balkan war scare has unsettled
th continental; markets, has held in
check the market in London and has led
lo some further selling" of American
stocks for foreign account. But beyond
the probability that war talk will crop
out from time to time and exert a pass
ing Influence upon financial calculations,
there is nothing to be greatly feared
from this quarter.
In respect to routine news on the
trade situation the week has borne the
most definitely encouraging testimony
ot any week in the year.
While the tariff does seem to cause
some hesitation among buyers of pig
Iron, it is also to be noted that a mii.w
of this sort might have occurred any
way, on account of the fact that con
tracts had already been made on an ex
tensive scale well into the second
quarter of 1909. In I he higher branches
of the Steel & Iron company, it is offi
cially stated, Is operating 80 per cent
of its capacity. The Steer & Wire com
pany reports business almost up to the
normal. The National Tube company
notes a considerable increase In orders
received for pipe and tubes, while the
booking of a very larze tonnaare of
structural materia! and steel rails are a
widely advertised incident of the week.
A decided improvement has occurred in
the copper trade owing to the recent
liquidation among holders who had
bought for a speculation and prices of
me raetai uegan to naraen again, in
creases In railway earnings the com
parison being made, of course, with the
panic period are now very pronounced
all over the country.
More gratifying still is the circum
stances that the ratio of gain In net re-
ceipts continues even larger than that
or gross.
Some uncertainty has been exnressed
as to the outcome of the $30,000, ono new
Erie bonds, authority for which has
Just been asked of the public service
commission. But barring, perhaps, this
and other exceptional Instances of the
same kind,-the broad truth I.i that our
railways and industrial companies are
better toie to oDtain copitai ror lm
By Syaun H. Cohen.
Portland Union Stockyards, Nov- 28.
A. silvery lining- appeared among the
clouds of the livestock situation during
the past iveek. and livestock affairs
have taken on a brighter hue. . -v.
While there was but little change in
the amount of arrivals during- this week
as compared with recent periods, the
tone generally was much better. Most
of all affected by the changed attitude
or tne buyers was tne cattle market
While heretofore of late there has been
much discrimination between grades
among the Killers, there was a good de
mand for all grades during the week.
and the outlook could scarcely be better
Tor an aavance in prices man at this
time. . .-
There was no chanara in cattle mar
ket values during the past week, except
perhaps that lower grades . received a
fractional advance once in a while.
However, the general price range shows
no- changei There is every indication
that well -finished cattle will bring an
advanced price soon because the wants
of packers in the open market are In
creasing, while -offerings from the in
terior show a decrease.
rinlshjsd Kog-a Ars Scarce.
There was a great scarcity of finished
hogs in the- yards during the past week,
although the total run was almost as
heavy as the previous six days., The
general quality of the hogs now coming
to market is very poor, and for that
reason most of the sales during the
week were made at $6 or less. Hogs
that would bring the top price were
generally absent, ' and for this grade
there continued a steady tone all week,
although there Was slight easiness
shown at the close.
Good Demand for Sheep.
There Is a very good demand for
sheep in the local yards, at this time,
although the run was a continuation of
the previous shortage. Only 76 head
arrived during the six ays, while the
demand was for several times as many.
Northern packers appeared In the mar
ket for sheep during the week, but
their wants could not be filled. On
this account the market was very firm.
To some extent the future of the sheep
market is in the hands of shippers.
They have waited for a better price for
some time, and now have their wish
almost in sight, unless there is a rad
ical Increase In the volume of arrivals,
the indications are that sheep prices
will move up considerably during the
coming 10 days. In this prediction
practically all local livestock commis
sion merchants loin.
The past week arrivals of livestock
compare with the same period In recent
years as follows:
Hogs. Cattle. Sheep.
1907 408 420 216
1906 .. 997 808 , 794
190S 921 237 1697
A year ago for this same week a
slight Improvement appeared In the de
mand for all grades of livestock, but
there was no change In values.
Yard's Beprssentativ Prices.
The folowlng prices are representa
tive of late transactions in the local
yards and indicflte the exact state Of
me aemana ror tne various grades ana
tne prices thereon
STEERS."
. ' Weight ,
steers fi,800
51 steers 6865
26 steers 27.460
95 steers ........... .126.980 :
83 steers ............. 87.395
25 steers 7,600
41 steers .... 49,860
COWS" AND- HEIFERS.
4 cows 17,000
13 cowS 13.985
1 cow 950
17 cows 17,600
1 cow .'. 1.016
1 cows ............. 13,20)
29 cows and heifers.; 26,956
17 cows 17,000
cows 2,250
12 cows 14,125
163 cows. 169,746 '
17 cows f 16,625
1 cow 965
1 cow . ;. 890
46 COWS 44,200
BULLS.
2 buli-? 4,208
4 bulls 5.885
6 bulls 6,83
HOGS.
541 bogs 206,780
98 nogs 20,120
-95 hogs . . . 19,840
36 hogs 8.800
103 hogs 20,880
89 hogs 18.425
1-5 hogs , 2.400
88 hogs 21,055
28 hogs 4.025
87 hogs 17,885
15 hogs 2,250
90 hogs 19,9li
87 hogs ..: 19,145
10 hogs 1,60(1
17 hogs 3.680
178 hogs 89.890
f tlOgS 14,920
21 hogs 3.585
CAkVES.
8 calves , 3.160
37 calves 10,680
30 calves . .-. 10.515
45 calves . , , , , , .
SHEEP.
122 Iambs ..... 10.825
15 sheen Z.165
Following Is the general- range of
values on- -stock ruling In the yards for
late shipments:-
Hogs Best east or.,mountains. o.oo
6.15: ordinary. S5.60(3i6.75: blockers
and China fats. $5. 005.50; stackers and
feeders, $4.75j)5.O0.
Cattle Best steers, weighing 1200
pounds. $4.004.25: medium steers.
$3.60 g 4.00; poor steers, $3.60; best
cows, $3.00; medium cows, $2.60 2.75;
Stags. $2.503.00; bulls, $1.75 02.00.
Sheep Best wethers. $4.004.26;- or
dinary wethers, $3.60if?3.75; ; lambs,
$4. 0004.25; straight ewes, $3.003.25;
mixed lots, $3.003.7S.
Veal Choice young calves, $4.00
4.60; heavy and rough, $3.503.75.
Eastern Livestock Markets.
Chicago, Nov. 28. Hogs, 10,000; cat
tle. 1000; sheep, 2000. Hogs opened
steady. Left over yesterday 21,300.
Receipts year ago 15,000, Cattle and
sheep steady.
Kansas City, Mo., Nov. 28. Hogs,
8000; cattle, 600; sheep, none. . ,
Omaha, Neb.. Nov. 28. Hogs. 8400:
cattle, 100;, sheep, 1200.
Price.
$3.75
4.00
8.90
4
. 8.85
3.25
4.25
$2.26
2.60
3.00
3.00
3.00
2.76
3.10
- 8.00
2.75
3.00
2.86
2.65
2.50
2.50
2.75
$2.00
. 2.00
1 1.60
16.25
6.15
6.10
6.20
6.16
6.10
6.50
6.26
5.50
6.00
6.00
6.26
6.25
5.50
6.00
6.00
6.00
5.26
$3.50
,4.00
3-60
4.60
$4.25
3.60
WEEKLY ARRIVALS OF
PRODUCE ATPORTLAND
The arrivals of produce at Portland
for the nast week compared with previ
ous week are thus shown by. the board
of trade; . -. -
Cream, Butter Kggs, Chicks,
gals, boxes. cases, coops
Nov. 28.
Nov. 21,
Nov. 14.
Nov. 7.
Oct- 21.
Oct. 24.
Oct.. 17.
,.21,806 .
..21,999
.'.22.996
..20,625
..21.152
..23.946
..25,276
Oct- 10... 26.787
Oct 3... 25, 199
8eDt. 26. . .26.892
Sept. 19.. .25,685
1147
1465
451
1574
( 824
687
, 795
797
1191
817
640
637
:i906 .
; 2708
2035
4972
2591
1998
617
1387 i
437
844
407
496
639
453
853
480
604
679
434
GRAIN PROSPECTS OF
BLAIiQCK ARE OF BEST
Blalock. Or.. Nov. 28. The recent
rains which have fallen in this section
are regarded -as insurance of more than
an average crop of grain - in 1909. as
wen as a bumper crop or ran sown
grain. Although the total rainfall from
October, 1967; to Ootober. 1908. was
only 6.7 inches, and the past season was
considered the driest since cultivation
of the famous Blalock wheat belt was
commenced, crops were harvested that
yielded over 20 bushels of wheat to the
acre. - This fact leads those who are
In a oositiort to know to Dredict such
bright prospects. The result of last
season's yields, also proves to a cer
tain extent that the progressive farmers
of this locality have solved that prob
lem in dry land farming known as con
servation of moisture. - Since October 1,
the-precipitation has amounted to 1.70
Inches and fall sown grain has been
benefited to such an extent that old
timers claim " it Is the best prospect
they ever had. ;" The acreage In this
vicinity will be larger than usual,; and
all fall sown grain has been treated to
the latest methods known in preparing
summer fallow for fall sowing. Follow
ing Is a partial list of fall sown wheat:
tsuncn a eons, louu acres; w. j. aiarl
ntr; 700; William Baker A Sons, 800:
W. MoKlnnev, 300: Hull & Crews, sso
and it is .safe . to say that several
smaller growers will swell the, list to
6000 acres of winter wheat. . - .,...,-'.
The favorite varieties in this section
are Forty-fold, Turkey Jted and Bed
Fife. Besides the bright prospects for
heavy arain croo.. the farmer and
stockmen are jubilant over the' pros-;
pect for winter graslng, as the pas
ture, lands, both range - and stubble!
fielda are loaded down wtth an Rbund-i
am-e'er green feed, and 'air kinds
COIITROL VESTED
: 111 THE BULLS
Had Charge of Chicago Mar
, ket Smaller Receipts in
. v the Northwest Help.
4
World's Wheat Frloss.
Dec.
Chicago $1.03
Winnipeg 6814
St. Louis. 1.03
Duluth .99
Kansas City .9714
New York T. 1.13
San' Francisco ., 1.65
Liverpool , ............ 7s 10H4
Per cental.
4
4
4
4V
;
:
4
Dec.
May
July
CHICAGO WHEAT MARKET. ,
Open. 1 Close.' Nov. 27. Loss.
10ST-4 103 10344B .
.....108V 108HB 108A
..101 101 v. 101B ' ..
(United Press teaaed WIA.)
Chicago, Nov. 28. Bull forces were
plainly seen to, be still in control today,
and, the market being hopelessly con
gested scalpers based their operations to
fit In with the prevailing stronger
forces. " '
In addition to the firmness or roraign
markets receipts in the northwest were
considerably less, than a week ago, and
even smaller than on the corresponding
day in 1907. Liverpool was from un
changed to Mo higher without change
in value for spot wheat. Antwerp re
peated yesterday's figures, Berlin was
up 6c and Buda Pest c. The market
turn firi rosier near the end of . the ses
sion with much to avoid possible acci
dents before Monday morning.
ReceiDts of corn at Chicago were con
siderably heavier than of late., and an
easier tone was given to the market in
conseoilence. Suwiner of May corn
against purchases of December was no
ticeable because of the limited amount
of business of any other kina. The lat
ter reature was less prevalent lowaro
the end. Sample market was fairly
firm nt nrienti the Ram ft as Vesterdav.
Market for December corn near the end
became very -heavy, and it closed
oeiow where n rewtea -rrwsy.-- -
May leu orr at Misuse aecnne, ana
July 1-16 down. Trade in oats was
liKht." and little disposition was evi
denced to business when more than a
very small fractional change In prire
from yesterdays closing rigures oc
curred. Market had an easier tone after
the sales in the sample marseis wire
found to he He lower than they were
yesterday for the poorer grades.
Trade In the provision pit was fairly
active for a short time aftpr the open-
nar. but gradually fell in wun the pre
vailing dullness ot the grain markets.
Prices, however, showing considerable
firmness on account of less oppressive
heaviness of the day's run of hogs.
Cash sales: Wheat -No. 2 red. $i.jsa
1.06: No. 8 red, 1 1.04 (9 1.06; No. 2
hard, $1.0 1.06; No. 3 hard, $1,02
.05; spring, No. 1 northern, ii.oxw
.09; No. 2 northern, SI. 0601.08; No.
spring. 98e$1.07.
Corn-No. 8, 6lc; No. 3 wbite, 61c;
No. 2 yellow, 61H61c; No. 4, 61
eiH"- ...
oats JNO. z, 49c; iso. 2 wnue, oig
50c; No. 3. 48c: No. S White, 48
60c: No. 4 white, 4748c; standard,
49HCP50C.
provement and e-xtension .work than they
have. been in year and the stimulus of
these preapective . expenditures to the
general business life of the nation Is
something that is not easy to exaggerate.
Range of New York prices furnlr.hed'
hy overpecK & loonf 10.
DESCRIPTION.
stock are in fiiia .condition.
'Of
Amal. Cop. Co..
Am. C. & F., c. .
Am. Cot. Oil. c. .
Am. Loco., c...
Am. Sugar, c . . .
Am. Smelt., c...
do pf d
Ana. Min. Co. . . .
Am. Woolen,' c. .
Atchison, c. . . . .
do pfd
Balti. & Ohio. c.
do pfd
Brook. R. T
Can. Pao., c .
Cent. Leather, c.
do pfd
Chi. & O. W c. .
Chi., M. & St. P. .
Chi. & N.' W., c.
Ches. & Ohio
Col. F. & 1., C
Col. Bo., c
do, sec. pfd . .
do, first pfd.
Corn pdts., c. .
do, pfd
Del & Hud
Den. & R. Q., c
do, pfd ..... .
Erie, c
do, sec pfd . .
do. first pfd.
G. No.,, jfd.....
111. uen
Lo. & Nash. . . 1
Man. Ry
Mo. H. & ., o..
do, pro..
Distillers ......
Ore Lands. .
Mo. Pacific
National Lead. . .
N. Y. Central....
N. Y. O. & W
N. & W. c
do nfd. ......
N. Pacific, c. . . , .
Pac M. S. Co....
Penn. Ry. ......
P. G. L. & C. Co.
Pr. Steel Car, c..
do pid. ......
Reading, c. .....
. do 2d pfd. . . .
do 1st pfd......
Rep. I. & S. c. . . .
do pfd. ......
Lock Island, c. .
do pfd. ......
St L. & 8. F. 2p.
do 1st pfd
St. L. & B. W. p.
S. Pacific, c ,
do pfd. ......
Southern Ry., c
do pfd .......
Texas Pacif loJ
T, St L. & W., c.
do pfd
Dnion Pacific, c.
do pfd .......
y. 8. Rubber, c
do pti
U. 8. Steel Co., CI
do pfd .,..
Wabash, e-; . .
do pfd
W. U. Telegraph,
tyis. Central, c.
do pfd. ......
Wheeling Lake. .
Westinghouse
Utah Copper
Third Avenue . ;
Vir Chemical .
Alton
- f (-t."i ,-i-v--f:
51
29
98
100
108
61
29
98
101
108
66
175
29
101
12
177
32
78
33
38
47
140
147
122
148
88
71
74
63
83
117
43
86
22
49
34
62
119
25
67
32
39
184
6
107
66
85
70
30
63
10
91
49
33
r7
85
46
42
66&
132
93
60
29
98
100
107
TO IMPROVE THE
BOARD OF TRADE
Directors Hold Meeting and
Decide to Inaugurate
New Ideas.
142
31
129
101
39
140 141 139
25
67
22
49
34
183
96
PORTLAND . GRAIN RECEIPTS.
The receipts of grain at Portland for
the past week as compared with previ
ous weeks, as reported by the board of
iraae snows, in cars:
Barlev. Flour. Ha v. Oats. Whut
Nov. 28... 38
Nov. 21... 100
Nov. 14... 107
Nov. 7... 78
Uct. 31.
Oct. 24.
Oct 17.
Oct. 10.
Oct. 3.
40
44
41
69
?5
61 60 9 302
60 67 17 342
78 88 12 668
26 79 20 268
31 34 25 366
13 76 86 411
14 70 51 418
19 79 22 178
23 40 45 472
The wheat market was weaker locally
during the pant week although there
were a few purchases of cash stuff at
Interior points at a slight advance in
prices. The movement in cash wheat
with this exception is nominal with
prices, if anything, a fraction lower.
On the Portland board of trade during
the week there was a loss of about c
In the bid and asked values.
Cash oats and barley were both dull
with prices practically the same as a
week go. A number of transactions in
spot stuff were shown on the board of
trade during the week, most of the
transactions being for California ac
count Futures were dull during, the
week with practically no Chang in
oats and a loss of lc s cental In
November and December barley.
The board of directors of the board
of trade met in special session .Friday
with a large attendance present The
Surpbse f this special meeting was to
Iscuss the progress In the different de
partments of the exchange, and particu
lar attention was given to the grain de
partment The board realized that this
department by reason of the benefits
which accrue from its functions to the
grain trade at large, 'should be stimu
lated as much as possible, and the
directors were very much gratified over
the fact that the actual sales on the
board had shown a considerable . in
crease during the last few weeks. A
large number of letters were read
from the country members giving ex
pression to their satisfaction of . the
work of the board of trade -and assur
ing the board of their cooperation, and
support
A special committee of three was en-
pointed to immediately get to wbrk and
increase the usefulness of the depart
ment and under the plan "outlined the
committee will leave early next week
July
Dee.
May
July
rW.
May
July
Deo.
Jan.
May
Nov.
Jan.
May
Low. Close. V
103 108
101
108
101
62
62
48
50
46
1444
1600
1620
, 920
920
937,
62
Range of Chicago prices furnished by
Overbeck & Cooke Co. :
WHEAT.
Open. High,
Dec .'103 104
May 108 108
..101 101
CORN.
..62 2
.. 62 62
.. 62 62
OATS.
.. 48 49
.. 60 61
46 46
PORK.
1445 1445
.. 1600 1615
.. 1632 1637
LARD.
.. 925 927
.. 925 932
.. 937 950
RIBS.
Jan. ...... 837 842 837 840A
May y 857 866 857 860
48B
60A
46
1440N
1600
1625
820N
922 -940B
and it Is anticipated that by December
15 all details will have been arranged
so that the additional functions can be
Inaugurated on January L. 1909.
The board of directors, as in the past,
realizes that the initiative and original
ity of Its functions have caused the
exchange to receive the ready support
of the majority -of the grain Interests
throughout the Pacific northwest, and
that this very fact of continuously en
deavoring to broaden its usefulness in
the interest of the steadily increasing
membership Is hound to react benefici
ally to the trade at large. It was de
cided by the board of directors to work
out its plans quietly, but the grain de
partment may rest assured that the re
sults of this work will be felt when the
active grain season starts in again.
Board of trade prices for week:
CLUB WHEAT.
Nov.. - Dec.
Monday 91B 92 B
Tuesday 91 B 92 B
WednePday 91 B 91
Thursday , . . .
Friday 91B P1B
Saturday 91 B 91 B
NO. 1 WHITE OATS.
Monday ......... 1.53 B
Tuesday .1.63B
Wednesday ....... .1.63 B
Thursday"
Friday . t,,1.5SB
Saturday . 1.53 B
NO. 1 FEED BARLEY.
Monday . ......L33B 1.36 B
Tuesday .1.33B 1.36B
Wednesday ...1.33B 1.36 B
Thursday
Friday 1.32H.B 1.35 ,
Saturday ........ ..1.83B 1.35 B
In a one famous tea district of
India the cultivation of rubber haa.
driven ' the production of the forme"
to second , place, nearly 17,000 acres
being devoted to rubber, plantations.
r Ths foundation for the recently com
pleted Harbor ' of Refuge lighthouse,
Delaware bay. Is a solid block of gran
ite, 18 feet deep, 40 feet In diameter at
the base and 36 feet at the top.
1.65
1.65
L65
l'.56
1.55
B
B
Overbeck & C6oke;Co.
Commission Merchants, Stocks, Bonds, CoHon. Grain, Eli
: ' ; 216-217 BOARD OP TRADE BUILDINO "
Mfmberi Chicago Board of Trade, Correspondents of Logan & Brvia. '
' - Chfcag-0, N York. Bo.ton. . . 7
We bare the onljt private wire connecting Portland with-the eaiter'
- V exchanges.' - . .'
11E?SI3ER3 PORTLAND BOARD Off TRADE. '
4N
A
4