The Oregon daily journal. (Portland, Or.) 1902-1972, December 13, 1908, Image 62

The Oregon daily journal., December 13, 1908, Page 62, Image 62

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Newspaper Page TextTHE OREGON SUNDAY JOURNAL. PORTLAND, SUNDAY MORNING, 'DECEMBER 13, . 1908." 10 . WEEKLY RE.YIEW FINANCE REMARKABLE GROWTH CATTLE FEEDING ON RECOVERS AFTER Of SMELTERS THE' WEAK FEATURE OF MARKET Price of Eefining Stock and Copper Shares Are atfHigh Point With Trade at Lb w Ebb-DeclineJs Heavy ' During Today's Tr ading in; New.YorkI OF OUR WHEAT CROP . A VERY SMALL SCALE A WEAK START Chicago Market Loses l-2c at Despite a Dry and Dusty Fall the Grain Will Be Able to Weather More Rigid Weather Than Ordinarily Winter Acreage Is 10 Per Cent Greater. Bt Louis, Mo., Pec 12. Modern aimer Bays: Fewer complaints regarding the condition of winter wheat are re ceived and prospects are generally mora favorable. The best reports come from the liar! winter sections of Kansas and Nebraska. In the soft winter wheat states a considerable portion of the crop is not In condition to withstand bad weather without snow protection." . (By Hyman K. Cohan.) Initial returns received by The' Jfour : tial from various centers of the Pacific ' northwest indicate that the fall wheat acreage in the three states is about 6 per cent greater than a year ago, and fall sowing is still in progress in a number of section. Therefore it is now generally conceded that Oregon, Idaho and Washington will have fully 10 per cent more fall winter wheat to be harvested the coming season than ever before. This providing normal weather conditions rule the remainder of the season. --Thus far this has been one of tne most remarkable . seasons for wheat vmwlnar aver encountered . on the north coast Practically three-quarters of tho fall crop was sown-durtsig one of the driest talis in, me nisiory 01 wneai growing here. Most remarkable of all Is that this wheat," sown almost In dust, is today showing one of the greatest growths ever noted here. Bo fast have the plants grown that today they . are mostly past the age when Ordinarily cold weather will af fect their producing qualities to any considerable extent In some few fa vored sections the plant -has already made greater growth than It did for wheat sown in the spring in some dry sections a year ago.- . .. Many more growers were inclined to vow their wheat in the fall-winter for the 1909 crop than ever before and that practically all the northwest's wheat area was not put into grain during the closing months of 1908 was not aue to any desire or me producers themselves but to weather conditions that remained dry for too long a period for successful and profitable plowing. It Is scarcely a guess to say that most of the northwest 1909 wheat crop would have been of fall-winter variety had there been a nominal rainfall in tho three states during September, October and November. , Now, however, the 1909 wheat crop has a start that bhould put the total production high . above the former bumper yields. With such headway as the plant has already attained it would lane a most severe spen 01 coin weather to kill it. as has been done in several seasons In iate years. Grown oeyona tne , tenaer penoa me wneat plant is in a position to stand very severe exposure. It is not so much In the larger acre age of. fall-winter wheat that speaks at this time so well for the next year's crop,- but the 'fact that the grain will mature before it reaches the usual heated spell, when so much damage was done to the water-famished plant and in some few sections put it into a condition where it was scarcely fit for harvest, and in some more fortunate was cut for hay as a last resort. Here it might be appropriate to say that the quality of the Pacific north west's 1908 crop was cruelly libeled by some buyers and that instead of being of poorer quality than usual, was bet ter, if anything. TURKEY MARKET COURSE ALMOST DEFINED DURING THE FAST WEEK The course of the turkey market for the next 12 days will not likely be much different' from that which preceded . Thanksgiving. Take the situation for a term of years and the seasons will averase well with one another. It is practically a settled fact that tne Bum or tne supplies win move in the retail markets at 26c a pound, al though for some selected stock probably 80c will be charged. Therefore it is quite improbable that the price on Front street will go be yond 22i23c, although one lot of selected birds sold at 25c during the past week. This, however, was an ex ceptional case and what few birds ar rived did not move over 20 022 '4c for the dressed stock and 1619c for the live ones. Chickens were firmer.' at advanced prices during the week, but toward the end the demand softened because of th? extreme values and the price lost Vic of the rise. From this time forth there will be a greater demand for broilers with arrlvuls decreasing and price higher. Eggs reached the top during the week and then began to react. Five cents was lost by the local market for fresh stock during the week, with mors liberal supplies and lower prices else where on the coast during the same period. ' - Creamery butter held its own during the week, although there was an In crease in cream supplies. An advance of lc In the cheese mar ket was easily maintained because of a larger demand and smaller offerings. Some northern business in sight could not be filled. Conservative Reports State That but Half the Usual Num ber Is Being Fed Along Butter Creek and Bock Creek Prospects for an Extreme Shortage. PORTLAND LIVESTOCK RUN. Hors. Cattle. Sheep. Dec. 12 1,801 1,478 1.697 Dec 6 2.676 658 1.463 Nov. 28....,.;.... 2.229 ' 967 766 Nov. 21 2.9S5 1.098 293 Nov. 7 1,776 930 921 ARRIVALS OF EGGS AND CREAM . BEGIN TO SHOW AN INCREASE The Portland board of trade reports the following arrivals at Portland for 1 the week noted: " .Butter, Cream, Eggs, Cheese, Milk. Week of ' Boxes. Gals. Casps. Boxes. Gals December 12 430 22.166 1,397 46 5.378 December 6 1,397 22.1 49 7M 6 5. 561 November 28 1.147 21,806 63" 611 6.103 November 21 1.465 21,990 1,906 302 6,772 HOPE FOR POTATO MEN IS AGAIN SHOWN IN THE SOUTH That there 1s still considerable hope for the potato growers of Oregon ob taining a fair price for their potatoes late in the spring Is shown by the somewhat better tone that has or late been ruling in the California markets. While potato supplies there are far from being cleaned up the glut of stocks is not nearly so great as it has been up to the past two weeks. There Is a firmer tone all around In the south for select quality, but the price has not taken much notice of the change as yet. DRESSED VEAL SELLS VERY HIGH ON FRONT STREET DURING WEEK Dressed meats, and especially veal, were firmer and higher during the week. Apple movement is now very good, although prices are still at the low point. Large sized oranges are selling at a premium because of n scarcity. Potato market Is still quiet, although a demand appeared for Early Rose for , seed from the south during the week. There is no change In the onion situ ation so far as the price or demand are concerned. Front street sells at the following prices. Those paid shippers are less re it u la r commissions: Batter, Errs ana poultry BUTTER Extra creamery, 87c; fancy SI H. 35c; store, 20c, BUTTER FAT Delivery f. o. b. Port land Sweet cream. S6Hc; sour. I3H per in. POULTRY Mixed chickens. 12 lzUc; hens, J2H13e; roosters, .23 old. 11c: fryers, 12l3e; broilers, 1414U geese. tftlOe: turkeys, alive, lvtfj Hc dressed. 20 22 He; spring ducks, 14 ft J6r; pigeons, squans, fl.QUii'2.30 per cozen; oia, ti.vu; aressea poultry, ijj lVsc higher. CHEESE Full cream, flats, triplets and dairies, 166 16c; Toung Ameri cans. HttOlic. K.G08 Local best. 40Qttc per doi; eastern, SO 36c. Bops, Wool anff joosa. ' WOOL 108 Willamette valley. 18c. HOPS 108 ' crop, choice, 7 0 8c; prime to choice, 1Qlc; prime, 8 4r Vie; medium. Cf(u, tfj. " BHEP6K1NS Shearing, lOOlie "CV .PSri. W001- xSctMOc; medium wool, IOc$LM each; long wool. Jtctf li ft ftCh. li P.HA! 2, 1 Nomln at 1 8 0 1 la. TALLOW -Prime, per lb. 13 4c: No. S and grease. 18!UT " . 4u"l;TitM 2-014 4,oj . J L1D rT7T-lW "l8 J: green, s-.?o lb; bulls. green salt, B6c lb; kij s, t3e: calves, green. lignc per lb. i, Orals, JTloa a&A ay,' . PAlt EX Feed. $2.6: roiled. 12841 jvi.ij.' tru-a. i,-w Trar!-, IV. 1: Portland Club, 91c; biuestem. 9697c; forty-fold. 92c; red. 89c. Willamette val ley. 91c. .?yrLLSTFS Selling price Bran. 126.80: middlings. J33.00; shorts, 830.00; chop, J21.00S.29.00; alfslia meal. 118.00 per ton. FLOUR Selling- price Eastern Ore gon patent, 86.00; straight, 4.054.76: export. 83.70; haters'. J4.654.80; val ley, $4.65; graham, Vts, J4.40; whole wheat. 84.65; rye, 6s. 16.50; bales, $3-00. HAT Producers' price New tim othy. Willamette valley, fancy. $14 00 015.00: ordinary, $12.50?iai east ern Oregon $16.60; mixed, lll.0012-.00- l,vZ VAV.0: ra,n- 1100; cheat, $11.00; alfalfa, 81212.BO ' OATS Producers' price Track. No. 1 white. $30.50(31.60; gray, $29.60(3 80.E0. Traits and Tegetablea, FRESH FRUITS Oranges, new navels. 12. 00615.25 ner hnr lor, or, ...... orsfnges 65c per box; bananas, 6c per lb; lemons. 83.256.00 box; grapefruit. $4.00 ir 4.60; pineapples. Hawaiian. $3.00 dos: pears. $1.25: grapes, 81.0001.50; huckleberries, 10011c lb; cranberries, local, $11.50 bbl; eastern, $12.50 bbl. ONIONS New Oregon. 81.10jyl.25 per 100: California, 11.10; garlic, i H 8c lb. APPLES Good. 2102: coor taenia per box. rviATOEB New, selling, $1,000 1.10: buying for shipment per cwt.. fancy, 70(S76c; ordinary, 6070c; sweet. $1.75 1.80; Early Rose, buying, $1. VEGETABLES Tnmisa new Oreron. 750$1; beets. $11.26: arrota. 600 TSe sack; parsnips. 85e01.OO; cabbage, $1.6001.76; tomatoes. California, $1.26 per crste: beans, 12c; L-auliflow- er. si.uu; peas, izc; Horserad ish. 6 8c lb: artichokes. 57Bc doz: rreen onions, 16o per do- peppers, bell, 6c; Chile ( ); head lettuce. . 40c dos: hothouse. 76c$l box: radishes. lBr dosen bunchv;; celery, 4085c;- egg plant. ie 10. v i ., ::c,;:' Oroeerlea, wt, rto. . . BUQAR Cube. 38.86: Dowdered. 88.70: fruit or berry, $6.95; dry granulated. $5.96; cont A, $8.16: extra B. $6.45; rolden G. $5.76; D, yellow, $6.28; beet. --anuateU. ti.li; barrtls. 15c; half bar-: By Eyman K. Cohen. Portland Union Stockyards, Dec. 12. A smaller number of cattle are being fed along Butter creek and Rock creek tnan ever before since these two locall ties became so popular as feeding grounds. According to information lust received from most reliable sources tha feeding oi cattle this year in tne Facllic north west, or. which Butter creek and Rock creek are the principal stations, will not reach over naif the volume of a year ago, and during 1907 operations were not on a very extensive scale. ' Some in formation wnicn is now coming forward says that the operations of feeders will be less than half of a year ago, but the latter la considered a conservative es timate. This means that with a demand sev eral times as great as has heretofore been shown that tho Paciflo northwest and that means Oregon principally in me came leeaing line win not turn out over half a supply, and if condi tions go on as they have during the past year it may mean a famine of cat- lie supplies in we early spring. The a-reat decrease in cat tin feed ing and which will force the price of Deer to an enormous figure unless sup plies are obtainable from some other section, was brought about by the rough t, which continued for so long period last season and which .caused uch a great decrease In the Pacific nonnwest s hay supply. With hay and millfeeds scarce and prices jumping -upward on even the most slight pretext, the feeder of cat tle has found the Industry but poor pay, even with advancing values in the yards. Owing to the greater cost of reeding and other conditions the num ber of feeders has been considerably decreased and even the larger operators were rorced to operate i-on a much smaller scale this season'than usual. In the Portland cattle market durinar tne ween there was on advance or 2c In the price, with best stuff selling at $4.25. While higher prices than this ere spoken of, none were received, so the market bv no means could be called higher than that price. Arrivals for the week show an increase from the pre- 'lous six clays, nut a large portion or he run came from California. The latter, however, was not of such good quality as previous arrivals, arid there fore did not top the market. .Higher Price for Hogs. The hog market felt very good and i'-ely during the past week. Arrivals were smaller by far than a week ago; In fact, they were the smallest since the week ending November 7, or over a month ago. There was likewise a greater demand and prices advanced by stages 40c and were firm at the ad vance. To the trade in general the gen eral expectation is tnat nog prices will remain just about where they are for a while. . While tho run of sheep was slightly heavier than during the previous six days, the run was very small and there was a general scramble for supplies. Prices are doing somewhat better, quo tations being about 25c higher all around except for lambs. The latter are generally of poor quality and for that reason prices have eased off from where thay generally stand. Commission Firm Dissolves. The livestock commission firm of Benson & Gould, the first established under the new regime at the yards, has been dissolved and two nfew firms take Its place. S. P. Goiuld of the firm. In connection with Harry E. Moran of North Yiikima. has established the Gould Commission company. Mr. Gould will be the sheep and hog salesman, while the cattle end of the lirni will be conducted by Mr. Moran. Thomas C. Benson, the other member of Benson ft Gould, has, with his son, established the iirm of Thomas C. Ben son & Son, and will continue to make his headquarters at the yards. Aa both Mr. Benson and Mr. Gould are well known among the livestock fraternity of the Pacific northwest, every one ex pects them to succeed In their new ven ture. Both will, temporariry at least, have their offices at the old headquar ters of Benson & Gould. lews of Livestock Xarke. "The entire livestock market is very firm at this time," says Lee M. Lacey, of Hunt A Lacey, "and there is every prospect of the markets remaining in gooa snaps lor some time to come. "There is a very good demand for everything in the livestock line at this time, says J. B. Lonergan, "and prices are reflecting ine improved conditions. "There is no complaint to find at all with the livestock situation at this time,' says Tom C. Benson, of T. C. Benson & Son. "Prices are firm and demand is .better than suDDlles." "Everything looks good to me in the uvestoca mantel just now, says S. P. Gould, of the Gould Commission com pany. "Th situation is perfectly aat- isiaciory to Bmppers. The past week s arrivals of livestock compare with the same period in recent years as iouows; Hogs. Cattle. Sheep. 1908 1,801 1,478 1,697 1907 751 640 420 190S 716 996 698 1905 665 839 632 A year ago for this same period hoars ano cattle were rirm at higher prices. out sneop were weaK. Taras' JUpresentatlve Prices. Following prices are rem-esentatlve of the week's transactions in the yards ana inaicaie ine extent, or tne demand and prices paid for various grades and weights: COWS. calf. Weight. . 8,000 , 10,676 , 11,680 . 6,376 . 25,950 . 62,000 . 19,925 5,675 , 25.965 20,744 . 8,186 , 94.145 7.325 1.476 8,125 26.000 22,961 1,914 3,388 20,338 1,694 3,390 20,340 1.690 27.975 5,765 STEERS. 12 feed steers 11,945 3 steers 3,550 5 feed steers 5,210 28 steers 28.545 2 steers 2,200 1 steer 1.100 4 steers 4,205 17 feed steers 14,675 4 steers 4,985 30 steers 30,100 2 steers 1,950 2 steers 1,950 52 steers 55.380 128 steers 136.345 41 steers 50,070 20 steers 22,479 4 steers 4,496 BULLS AND STAGS. 1,440 1.500 1,750 2,450 1.450 1.975 1.525 S COWS . 10 COWS . 11 COWS . 5 cows . 26 cows . 62 cows . 18 cows . 6 cows . 25 cows . 20 cows . 6 cows . 110 cows . 7 cows . 1 cow, 1 5 cows . 25 cows . 24 cows . 2 cows . 4 cows . 24 cows . 2 cows . 4 cows . 24 cows . 2 cows . 29 cows . 6 cows . 1 bull 1 bull 1 bull 2 bulls 1 bill) 1 stag 1 bull 73 hogs 84 hogs 30 hogs 9 pigs 95 hogs 83 hogs 96 hogs 76 hoes 165 hogs HOGS. 18,975 23,250 6.445 1.265 19,910 17.550 21,825 19,485 32.500 LAMBS AND SHKEP. Price. $2.75 3.25 3.25 2.75 8.00 3.50 8.25 2.50 8.50 3.50 3.00 2.90 8.25 8.00 3.25 3.50 3.50 3.00 2.75 3.25 2.5 2.76 8.25 2 25 I!fio 3.00 $3.65 4.26 3.50 4.00 4.25 4.25 4.00 3.35 4.25 4.00 4.00 4.00 4.00 4.10 4.20 4.25 4.00 $2.00 2.36 2.25 2.25 2.25 3.00 2.00 $6.20 6.16 6.00 5.50 6.25 6.00 6.25 6.35 6.15 the Opening for Wheat but Closes Higher. I May July Sept Chloago Wheat Market. . Open. Close. Dec. 11, Gain. .... .1054, 106V4B 105i . 97$ 98HA 8-8B rels. SOc; boxes. 65o advance on sack basis. (Above prices are 80 days net cash quotations) SALT Coarse Half ground. 100s, $11.00 per ton; 60s, $11.60; table, dairy, 60s. $18.60: 10s, $16.00; bales. (2.3$; Imported Liverpool, EOc. $20.00; 100s, $19.00; 40s, $18.00: extra fine, barrels. 2s, 6s and 10s, $4.606.6; Liverpool lump rock, $20.60 per ton. RIC15 imperial Japan No. 1. IHes No. 2. EUc; New Orleans, head. c; AJax (0; Creole, 614e. HONET New, 15o per lb. COFFEE Package brands. $16.60. BEANS Small white. $6.25; large white, $4.60: pink. $3.85; bayou. $2.76; Llmas. $5.75; Mexican reds. $4.75. It eats. Msl. wad Jronsloa. IU8, BACON, ETC. Portland pack (local; hams, 10 to 18 lbs, 1Gb per lb; breakfast bacon, 13321tto lb; picnics, 10c lb; cottage roll. 11c lb; regular short clears, smoked, 13a lb; backs, heavy smoked, 12 Vic lb; light, smoke-i. 13c lb; bellies smoked, 15o lb; pickled tongues, 60o each. DRESSED MEATS Front street Hogs, fnncy. 78c; ordinary, 7c; large, 6c; Veal, extra, 9c; ordinary, 8c; heavy, 7 He lb; mutton, fancy, 6 7c lb; spring lamb, 7i74jC lb. LOCAL LARD Kettle leaf, 10s. 14o per lb; 6s, 14 He per lb; 60 lb tins. 13Hc per lb; steam rendered. 10s, 13o per Tb; 6s, 13 He per lb; compound. 10s, $a per lb. CLAMS Hardshell, per box. 12.40; raxor clams, $2.00 per box; 10c per dos. FISH Rock cod, lOo lb; flounders, 6c per lb; halibut, 7c per lb; striped bass, 16c per lb; catfish. 10c per lb; salmon, fc per lb; herrings, 6c rer lb; soles, 7c per lb; shrimp. 2 He per lb; perch, Co per lb: tomcod, 10c per lb; lobsters. 26o per lb: -fresh mackerel, ( ) per lb; crawfish, 303 per dosen ; sturgeon ) per lb; black Dass, zuo per id; silver smelts, so p lb; black cod, 7 Ho per lb; crabs. $1. iST f OT8TERS Shoalwater Bay. per gal lon, $2.60: per 100-lb sack, 5.00: Olvm pla, per gallon, $2.40: per 100-lb sack. $6.00 t.BOi Eagle canned. 0o can, $7.00 dozen; eastern in shell. $1.75 per 100. rairnts. Coal. OU. no. v ROPE Manila, 9c; sisal. 7He lb, LIN SEED OIL Raw, bbla, 68c; cases, (4c; boiled, bbla. 0c; cae 66o a gal; lots of 260 gallons, Zc.leas; oil cake meal, $14 ton. r BENZINEM , eg, cases. Ite per gal; Iron bbls., lHo per gal WHITE LEAD Ton lots. Ta M, lb; lots, Cat per lb less lots, le RPENTINCJa'' essi ISHs per' W1HK WAiLB-'i'rwni Dii;a flit. 75 lambs 6,345 $4.75 15 sheep 1,500 4 00 210 lambs 23,715 4.50 CALF. 1 calf 175 $5.00 Following Is the general range of values on stock running in the yards for late shipments: Hoks Best east of mountains. $6.25: ordinary, S5.50&)5.75; stockers and feed ers, $5.0005.50. Cattle Best steers, weighing 1200 pounds, $4.25 4.60; medium steers, X4.004J 4.2i; poor steers, $3.25; best cows, $3.25; medium cows, $2.602.85; Stags, $2.753.00; bulls, (2.002.25. Sheep Best wethers, (4.60 4.76; or dinary wethers, $4.254.50; lambs, $4.50 4.76; straiglii ewes, $3.50; mixed lots, $4.00. Veal Choice young calves. $4.00 4. .tv, heavy and rough, $3.503.75. (United Press Leawd Wire.) Chicago. Dec. 12. There was a weak start to the wheat market today at about Ho decline from tha pruvlous day's closing prices. There were nat urally many recent Bnort sellers with good proms in their trades and a num ber of those took advantage of the easy start to cover and a reaction en sued that put tha price up temporarily nearly one cent above the -lowest price touched at the opening. Liverpool fu tures were from d to 4d lower. Ber lin was Ko lower. Budapest down He and Antwerp He under, yesterday's rigures. May wneat reached its lowest at $1.04, from which point it rallied sharply, and at the close May was t above the closing figures of the day previous. Further weakness imparted to corn by the action of the wheat mar ket, but here was advantage taken of the softness to cover short corn. Trade was only moderately active and selling presure was relaxed from the fact that country oferings had almost ceased at the lower prices recently established. Demand in the corn market was rather slow and c to K a under the day previous. Market was near its highest toward the close, the rally in wheat being a further reason for shorts getting in. December at the close was Mi better than at the close Friday. May left off at He net gain for the day. Oats came under the influence or tne wheat market for a time and when wheat was at its lowest the demand for offerings of oats was best. At the close there was Mc improvement for the day in December and May and so n the July. Market for provisions was rirm at he oDenlnsr In response to the great drop In number of hogs received com pared with the recent average and with the similar day's run last year. Liverpool reported lard 3d lower. Cash sales: Wheat No. 2 red, $1.024 fi 1.04; No. 3 red. $1.04: No. 2 hard. 1.01: No. 3 hard, xcb)ti.uz; spring iso northern. 81.06H l.OSMj ; Mo. 3 sprlne. 98e$1.05. Corn rso. yeiiow. obc; .. a. .(& 58c: No. 3 white. 68c. Nfl. S )-' low, 5S&84c; No. 4, 67c. Oats No. 3 wnne, oiibjozc; ao. hite, 60V462c; standard. 62c4 Ranze of Chicago prices furnished by Overbeck & Cooke Co.: WHEAT. Open. High. Low. Mav 105'4 106i 104 Mj July ... 97 98 87 Sept 97 97 97 May Julv Sept. 97 97 CORN. 60 61H 61 4 61 61 61 OATS. Mav 52.'4 52ti July 47V. 47 Sept 40 V 40 PORK. Jan 1567 May 1600 Ja n. May July 915 937 950 Jan 817 Mav 847 1670 1605 LARD. 915 937 950 RIBS. 8T7 860 60 614 61 62 47 40 4 1550 1587 905 930 947 810 840 Close. 106 98HA 97 1HA 61B 61 52 4 40& 1667 1660 I 912 935 847 815 845 COARSE GRAINS ARE IMPROVING Hi TONE Demand From South Is In creasing Transactions on Board of Trade. News Gossip of Finance London. Dec. 12. Bank of England rate is unchanged. London, Dec. 12. Consols for money, 83 15-16-, accounlt, 84 3-16. New York. Dec. 12. Mexlcan dollars, 45c. -Bar silver, 48c; Newt York, Dec. 12. bonds: Date. Twos, registered... 1930 do coupon 1930 Threes, registered.. 1908 do coupon 1908 Threes, small bonds .... Fours, registered... 192S do coupon 1926 Twos, Panama . do coupon Fours, Philippine.. Government Bid. Ask. 10314 104 104 . 104 101 100 101H 100 1204 121 121 102V4 103H 102 110 Coarse grains show a livelier tone In the local market and during the week a number of transactions in both oats and barley futures were shown on the Portland board of trade. California was the principal buyer and while the market moved up and down in the south with great regular ity and local tone was generally steady. There was practically nothing dolnjc In the market for wheat futures on the board of trade during the week and only a small amount of cash business was passing. Cash prices held generally quite firm at the former week's level but there was a fractional decline in the two options for both the bid and ask values. The receipts of grraln at Portland for the oast week as comnared with nrevl-1 ous weeks, as reported by the board of trade show, in cars: Barley. Flour. Hay. Oats. Wh't. By Thorn as O." Snotwell. (Heant Mews by Longest ttwd Wire.) New York, Dec.- 12. Strong features of the stock market are so clearly de fined and well understood . that it Is Idle to discuss them. . While the market is undoubtedly still on an , upward wing-, it may be useful to watch one weak spot that is worrying Wall street The action of American Smeltlnir .and Refining stock is an index of the metal situation, it is perrectiy wen- under stood that there must be. at the very lowest estimate. 1 at least one entire year's supply of copper metal piled up In the foundries of the world and held by speculators. At the same time the miners are producing perhaps 1,000,000 pounds a day more than actual 'con sumption. Amalgamated and Smelters are sell ing at tne mgn prices. - ine coppers will most itrobably be the weak soot when the market becomes reactionary. iney are In such weak condition tnat break in that direction is liable at any time to disturb the equilibrium of tne wnoie list. ' The only way to guard against this is to understand that a collapse of comer shares does not mean that prosperity is having a set back. ir tney DreaK tne other stocks will ulti mately set away from them and re sume their advance so that any decline on tneir part must be considered tern porary. Stocks of coDcer comoanles making tne metal at a tow rigure ana sare even now. The decline in smelters today, while a very raaicai one, was considered mod erate, in view of the possilltlns. This break accounted for everything else done in today s market. The general public did not understand the situation thoroughly and imagined tnat tne gen eral list might follow down. New York Central was kept strong, advancing to above 119. The local tractions were also strong most of tho session because of a plan for reorgan izing the Interboro-Metropolitan. Erie was firm. ADVANCES LACK SNAP AND ABE TURNED TO DECLINES LATEK (United Ptmi Leased Wirt.. New York, Dec. 12'. In a review of the week's stock market it has to he said no less than it had to be a week ago that the upward tendency has been confined chiefly to stocks of the spe cialty class, whose fluctuations always represent a maximum of inside specu lation and a minimum of participation by the, outside public. Now and then buying operations appeared to make some neadway In some of the standard shares. The Harrlman Pacifies were very strong lust previous to the publi cation of Union Pacific's completed re port for the fiscal year, which was unanlmouslv voted a most brilliant showing. At another time Reading and the other issues of the anthracite group came Into prominence with new high records for the session. But taking more than three quarters of the regularly act ive share list it had to be owned that the response to the rise in the special ties was perfunctory and unsatisfactory, that the advance lacked snap and that such gains were quickly and easily lost again. These characteristics. which tmva heen noticed now for a fortnight or more, made an analysis of the Imme diate market position exceedingly dif ficult. On the one hand it can fairly be said that the general undertone is strong that stocks are not pressed for sale when prices are receding, and that ef forts made by bearish operators to precipitate-any Important reaction have met so far with instant failure. On the other hand, a market where violent upbidding for individual securities as the central feature and where these movements elsewhere is hesitating is fully open tov one- interpretation, and that Is that the main upswing is ap proaching' if It has not 'already reached the culminating stage. : . , - Critics who. take the most sanguine view of the immediate future emphasize the point .'which is . undoubtedly truo, that some of the so-called specialty movements for the last few weeks have Involved as accumulation. Range of New ork market, furnished bv ' Overbeck - & Cooke company DESCRIPTION. Amat, Cop. Co.,., Am. c. ir. uo. do pfd. ..... Am. C. Oil, o... Am. Loco., 00m. Am Hugar. com Am. Smelter, c. . do pfd. Ana. Mining Co, Am. Woolen, c. Atchison, r com. . ao pro. . . . B. & O., com do ofd. . . . B. Rapid Transit can. Facirio, o Cent. Leather, o. do pfd C. A Ot. Wes. c C. Mil. .& St. P. C. & N.-W. c, C. & O. Colo. F. & I., c. . . coio. DO., c do 2d pfd. do 1st pfd. . . . Corn Prod., c. . . do pfd Del. & Hudson. D. & R. G.. c. . . do pfd Erie, c do 2d pfd. -. . . do 1st pfd. . . . O. Northern, p.. ill. Central . . . & N Mex. Cent. Ry. . M. K. & T.. c. do pfd. Distillers Ore Lands Mo. Pacific Nafl. Lead N. Y. Central. .. N. Y., O. & W.. N. A W.. c N. American. . . . N. Paeiric, o... P. M. S. 3. Co... Fa. Ry P. O., L. & C. Co. P. Steel car, c. P. Bteel Car. p. . Reading, c Reading, 2d p. . . Reading, 1st p.. R. I. & Steel, e. . R. I. Sr. Steel, p. . Rock Island, c. . . Rock Island, p. . St. L. & S.F. 2dp. St, L. & S.F.lstp. St. L. & S. W., c. St. L. & 9. W., p . S. P. com do pfd S. Ry, com ...... do pfd Texas & Pacific. T., St. L. & W., c. do pfd U. P., com do pfd IT. S. Rub., c U. S. S. C. c... . do pfd Wabash, com. . . do ptd W. U. Tel Wis. Cent., com. do pfd Wheeling Lake.. Westlnghouse tTtah Copper Third Ave a a .88 46 42 55tt 41 BO 106 49 31 98 102 109 61 178 30 160Vi 175H 68 39 64 68 n 179 88 83 40 49 142 147 123 31 88 71 87 72 65 79 11KH, 46 84 9 88 47 42 67 132 90 105 98 102 110 58 178 30 ii" 150 178 68 39 67 68 142 34 129 100 89 99 141 90 26 86 23 69 22 63 53 120 123 26 69 83 41 182 95 64 112 18 45 68 52 68 '88 '85 17 179 38 82 35 40 49 148 H7 12S 21 S8 37" 78 66 80U 121 46 84 T 821 4$; 66 131 87 104 4 1U3 109 E7 1TB 11 149 175 57 88 64 67 142 36 130 100 4S 142 90 86 23 60 40 63 17 179 87 82 33 40 49 142 147 123 21 88 36 72 4 78 118 4 84 54H 120 123 25 69 33 41 183 88 36 141 K 35 129 100 89 98 141 '96 26 85 23 69 39 63 53 120 123 25 69 83 40 182 5 47 r 107 42. 66 131 88 104 49 31 97 102 109 si 68 177 30 99 11 150 175 68 89 54 67 72 17 75 179 87 82 86 40 49 143 147 122 21 38 71 88' 78 65 80M 2 84 73 3D 130V 99 142 93 91 26 86 23 69 40 63 23 62 120 123 26 59 33 40 65 183 a ft 14 1$ 18 67 30 67? 11 88 47 38 Kansas City Southern, 37 38. Total sales. 664,000 shares. JAPANESE WILL MAKE FLOUR IN MANCHURIA Big Chain of Mills to Be Operated Soon Wheat Sup plies Are'Hard to Get There hut Native Growers Will Produce More With a Favorable Price. Dec. 12 Dee. 5 NOV. 28 Nov. 21 Nov. 14 Nov. 7 Oct. 81 , Oct. 24 Oct. 17 , Oct. 10 , Oct. 8 . 38 75 K 41 "28 Ml .100 .107 . 76 . 40 ,.44 . 41 . 69 . 35 60 78. 26 31 IS 14 19 22 71 56 60 67 88 79 34 76 70 79 40 20 19 9 17 12 20 26 36 61 237 249 302 842 66S 268 365 411 418 178 472 New York, Dec. 12. Metal: Copper, lake, 1714c; electrolytic, 14 14c; castings, 1414c. Tin $29.4029.70. Lead 14.26 4.80. London, Dec. 12. Silver, 22d. Washington, Dec. 12. The treasury statement today shows: Receipts. $1.(67.997. Disbursements, $2;200,000. ' BOSTON COPPER MARKET (Furnished by OVerbeck & Cooke Co.) Hosion, jec. Ji. Official bid prices: Amal. Adventure! ... Alloue ...... 39 Arcadian .... 3 Atlantic 17 Boston Con... 16 Butte Coala.. 27 Cal. A Iiecla.675 CaL A Arts. 118 Centennial ... 14 Cop. Range... 80 Daly West... 10 Franklin .,.. -t Granby 104 Greene Can.. . 11 Glroux ...... 6 Mass. ....... 13 Michigan 13 Mohawk ..... 69 82!Miamt Nevada Con. 12 Nipplssing. MO 20 10 orth Butte.. 86 ' Old Domin.,.. 69 Oacebia ......132 Parrott 29 Qulncy ....... Royals 26 Shannon . ... . 17 Sun. A Pitts.. 18 Tamarack 4... 82 Trinity ..... 17 united . ... ,.w 13 Utah Mlnins.. 46U Victoria ....... 8 Wolverine ..,.151 Winona ..... U. 8. Mining. 44 Statement of N. Y. Banks New York, "Dec. 12. The weekly staterhent or the associated Danks to day shows the following changes: . Reserve on all desopits, decrease, $3. 372.150. Reserve on all deposits other than United States deposits, decrease, $3,171, 900. ' . Loans, decrease $7,697,900. Specie, decrease, 86,740,000. Legal tenders, decrease, 416,800. Deposits, decrease, $16,534,600. . Circulation, Increase, $529,300. Total loans, $1,339,647,400. The surplus of the banks Is $19,199, 800, as against a deficit last year of $40,101,175. and deficit two years ago of $1,899,050. . - Hogs Higher lit East. Chicago. Dec 12. Hogs, 1,000; cat tle, 600; sheep. 2600. (Hogs are a shads higher, cattle steady, sheep strong. l i Kansas City, Mo., Dec 12. Hogs. 5000; cattle. ,600; sheep none. Omaha, jyeb., Dec 12. Hogs, 7000; cattle, 200; sheep. 1300. . Liverpool Wheat Market. Liverpool, Dec' 1.What close: December ' 7s 11 Kd:. March. 7a 7ttd: May, 7a-dV 1 .:. . 1 1 W .1 'When.'the body of a starving animal, ineludln'g man, loses two-flf ths"of its substance, the inevitable result Is death. . . - ' V - By T. T. Cloud, United States Tics-Con sul at Mukden, Manchuria, The flourmill recently installed at Tlehling by the ManChurlan Milling compajor, a large Japanese ebneern, is reported to be turning out its full quota of flour daily. The mill was erected by and purchased from an American company, and is one of an extensive sys tem of mills to be established on the line of the South Manchurlan railway by the Japanese concern, whose program it Is to manufacture on the ground all the wheat flour needed by the inhabi tants of Manchuria. The Tlehling mill Is a small one. Its dally capacity being only, 40 barrels, yet it has thus far experienced consid erable difficulty In obtaining, at satis factory prices, enough wheat to keep it running. At present the difficulty is overcome by shipping wheat from the north, in many cases over a distance of 200 miles, the wheat obtained from the immediate vicinity of the mill not exceeding one fourth the amount re quired. . , . The average price paid for wheat is 60 cents per bushel. The average price received for the flour, delivered at the mill, per barrel being: First grade, $4.18; second grade, $4.02; third grade, $3.88i For offals. 86 cents per hundred weight The demand for' offals is good, and the trade is more profitable rela tively than the flour trade. Chinese farmers and the Japanese military are the chief consumers of the by-products. 'Wneat non Orowlng In favor. , The wheat In the Tlehling region re sembles the red clnb of the Pacific coast, and if properly handled would make very fair grade of flour, but, owing to primitive and defective meth ods of harvesting and caring for the ?raln, the flour Is not only of an In erlor quality, but the quantity of flour obtained per bushel of wheat is consid erably less than it might be, the rates at present being one barrel of flour from five bushels of. wheat. Lack of skill also In operating the mill Is doubt less partly responsible for the low per centage of flour obtained, vis: First grade, SO; second grade, 60; third grade, 10. As an article of diet wheat flour Is becoming more and more popular among the native population of Manchuria, re placing "kaoliang." millet, and the other cereals, which in former times consti tuted their principal items of food. Will Orow Mors wheat. The farmers, therefore, are beginning to appreciate the fact (hat the growing of wheat as a regular crop js profitable, and are increasing the acreage from year to year. At present, however, the local mills are, as a rule, not making money, in the lirst place, mills, situ ated as is that at Tlehling, to keep running have difficulty In securing wheat, and in order to do so are com pelled to pay high prices therefor. Then, too, their brands of flour are new to the market, and the Chinese are very conservative with respect to new brands of wares of any kind. The new brands of flour therefore are not making much headway, even in the local markets, the consumers preferring the , established American and Harbin brands. Manchuria offers the flour milling in dustry a bright future if those inter-1 ested In Its development be content to meet the conditions as they are by In stalling small mills and teaching the farmer how to grow and care for his grain as well as how to market it ' Overbeck ml& Cob Coanissleo Eferchanls, Stocks. Bends. CoHon, Grain. EtV '; . W17 BOARD OF TRADE BUILDING) Y'-:;f ' Members Chicago Board of Trade. Correspondents of Logan & Bryan, '-!. Chicago, New, York. Boston. -.- ;,"' -;:... c:,v Ws nivs tbs only private wire connecting Portland with th casters -.'. - exchanges.- - :': - ' .. ; - MEMBERS PORTLAND BOARD 09 TRAPS, . , " .