8
THE OREGON SUNDAY JOURNAL. PORTL AND. SUNDAY MORNING, JULY 23 1911.
LATE MARKET (rn NEWS L-ggd-J OF THE DMmlrWORLQ;
mmmmm M m m mmm mi mm mm mmm m mm mm mm a mmmmmmmmmmmmmmmm---mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
The Greatest Hit of the Season
Kit
Cattle Shortage Is Real
Hot Weather a Factor
HERTS fl SUMPfRFOm
CATTLE AND SHEEP
Situation All Through the United States Is Most Sensa
tional Ever Known-Scramble for Supplies
Wot Even Crop Scares Are Sufficient to Cause Any Big
Movement in the Big Financial Centers
OSS N
By Hyman II. Cohen.
The Pacific northwest Is face to face
today with Its worst problem or rooa
nur'Dlv. Decreasing ranee ana unprnm
able markets of a few yearn ago have
done their work and a serloua shortage
" In the aupply of cattle la the ream.
All through the three atatea of the
i north Pacific coast there la a growing
demand for meats and aa the number
of head available for market Is much
smaller than a few year ago, a famine
la the seeming outlook.
A few years ago cattlemen were able
to use all the range they needed for the
production of livestock. The result was
that tha business grew steadily In a
haphazard way. Now with the range
being cut up Into farms, there Is no
longer room for the old method of live
stock production.
The shortage of water la perhaps the
principal factor in decreasing the pro
duction of livestock at interior north
west points. While It was an easy task
a few year ago for cattlemen, even
though their lands were at a considera
ble distance from the rivers, to get all
tha water they needed for their stock
because tha landa containing the water
were not then fenced by private owners,
ranolnf tha Zrfuidj.
Now, however, with the smaller range,
private land owners have been compelled
to fence their lands in order to conserve
them and keep other people's stock
away-
Without a suitable supply of water
for their needs It Is useless to attempt
the production of cattle on a large seal
and therefore practically all the big
producers have either gone out of busi
ness during recent years, or are making
preparations to get from under.
A careful canvass of the situation
hows that there has been a decrease
close to 60 per cent In the visible sup-
Sly of cattle at Pacific northwest points
urtng the past two years. This would
indicate the seriousness of the situation.
Last season the Pacific northwest
meat packers were compelled to send to
the east for a large per cent of their
beef supplies. This year the situation
has changed In this respect. The east
has of recent date been a buyer of cat
tle In thla section. Men are now scour
ing the country for every available hoof
of cattle. This movement, therefore,
would indicate that next season the
shortage of beef atock would be even
greater than during the present year.
East Drawing Supplies.
While during the previous season the
price of beef at Pacific northwest points
was so high that the trade here was
easily able to take offerings from under
the very nose of Omaha buyers, this
season the latter are the victors and
are taking the stock from out of this
territory. At competitive points re
cently, higher prices have been offered
Viv Smith Omaha Interests than bv Pa
cific coast buyers.
This means but one thing. As there
are not enough beef cattle In this section
to nu tne neeas or ouyers, prices nere
must elevate their views to at least
meet those held bv the eastern trade.
The Pacific northwest needs rattle from
Montana and Wyoming this season to
fill Its wants, but to get tnese supplies
there must be a further stiff advance In
the crice.
It has been stated recently that the
Miller-Lux company, the largest oper
ators in cattle In the country, have been
sending buyers throughout the north
weat Fn an effort to purchase every
available calf. It la stated that the big
firm fully realizes the seriousness of
the livestock situation and Is preparing
to take care of as much of the spirited
demand aa possible.
Calves are today commanding the
highest price ever known and till buy
ers cannot obtain half of their needs In
this respect. Three year olds are prac
tically iout of the market and other
growths are so scarce that It seems
that much higher prices will be forced
before the present season comes to an
end.
WOOL MARKET BEGINS TO ADVANCE
AS SOON AS GROWERS SELL STOCKS
By Hyman H. Cohen.
With practically all of the wool of
Oregon already in the hands of buyers,
the situation has begun to Improve
The recent decline In prices, said to
be due to the iear of tariff tinkering. Is
a thing of the paat and already there
art signs of a spirited Improvement In
the price -at the big centers.
' With the wool out of the hands of
? reducers and in control of the mills,
he tendency at this time is to boost
prices. This haa already started ar.d
at Boston there has already been a
marked Improvement In the demand,
with a somewhat better price in effect
;than formerly. Similar conditions rule
at Chicago and at Philadelphia.
i. At foreign centers the advance has
i been even more marked than in the
United States.' London prices have been
1 steadily advancing as well as the mar
' Wet showing a very much better call.
This fully confirms statements made
In this paper some weeke ago that the
tariff agitation was simply being used
as a club by manufacturers In order to
care growers. With the tariff as a
bugaboo It waa quite easy to cause a
semi-panic in the ranks of the wool
producers and for that reason the sell
ing this season was more brisk than
usual. . ,
The outlook seemed so hopeless to
growers that many of them, staunch
t supporters of the regular sales daya,
sold their product at the first oppor
tunity. Now that the wool has passed from
the hands of growers, the outlook Is
not nearly so bearish, according to man
ufacturers. With the wool already pur
chased and In their possession they now
hope to force the market to a much
higher point so aa to bring a higher
price for clothing.
It has been i.ointed out previously In
these columns that notwithstanding the
duty on wool here, outside markets
were fully as high as those at home
and. In some Instances, higher.
A few prominent Pacific northwest
wool growers tried the experiment of
shipping their wool abroad this season,
and according to them, higher prices
were obtained than could have been se
cured at home.
in n i ni
Both Lines Are Very Weak at
North Portland Market
ing Is Forced.
Adapted from Spokesman-Review
PORTLAND LIVESTOCK RUN.
Week.
July 22
July 16
July 8
July 1
June 24
Hogs. Cattle. Calves. Sheep.
1373
647
1635
2015
.1686
2177
2043
1681
1232
1741
S17
266
293
606
246
8198
6271
1462
7117
7908
Only lower prices wer available gen
erally In the livestock market at North
Portland during the paat week. The de
cline In cattle was marked In view of
the decreasing supplies at primary
points. The marketing of so much stuff
here during the week was due to the
lack of range in the interior. A total
of 2177 head was received, compared
with 2043 last week, and 1741 a month
ago, for a like period.
During the week there was a decline
of about 70c In the price of cattle, as
compared with the previous six days.
The wants of killers at the close of the
week was nominal. Everyone was filled
to overflowing with cattle, and, there
fore, (the outlook for price of the Im
mediate future Is not bright. However,
the marketing of so much stuff at this
time means that the offerings during
(Concluded on following, page.)
GREATEST WHEAT CROP BEING GUT
BOSTON WOOL ACTIVITY
Trade Improves During Past Week;
Foreign Markets Higher.
Boston. July 22. After a fortnight's
stagnation the wool trade has again
become active In eastern markets. The
lowest estimates of the business done
In Boston the past week are from 5,000,
000 to 6,000,000 pounds, but the actual
business was much larger than these
figures. Leading worsted mills are
prominent buyers.
There was a good demand for terri
tory half bloods and an active demand
for low grade territories. There Is a
strong situation at Liverpool and Lon
don private cables show a 5 per cent
advance on certain grades.
RECIPROCITY TREATY IS NOT
LIKELY TO BUMP WHEAT PRICE
By Joseph F. Pritchard.
Chicago, July 22. The ratification of
the reciprocity treaty by both house
and senate at Washington and the gen
eral belief that the Canadian parliament
will follow In the footstens of the con
gress of the United States caused a
great stir in board of trade circles late
today, when it became known that fa
vorable action was taken on the ques
tion by the senate.
John Dennis, of the Baltimore house
of Muller 4 Co.. and one of the largest
exporters In the world, believes that
while heavy shipments of Canadian
wheat will be made to the markets of
the United States In case parliament
acta favorably upon the treaty that
we will be able to export some of our
oft winter wheat, which is now a drug
on the market, and which is not wanted
In the old world at satisfactory prices tf
': growers.
Many men In the grain trade believe
that the treaty will place us on a more
' solid basis and that the matter of
manipulation of breadstuff s by "strong
arm" concerns with millions of dollars
at their hacks will not be seen in the
future. There are others, however, who
figure that the treaty will give Llver
: pool grain men the power to control the
markets of the world, and that In the
vent of a short crop of wheat In the
United States Canada v. Ill be the nation
to receive the full benefit.
That the recinrocity treaty has been
pretty well discounted Is the general
opinion of many in the trade, yet there
were a few to be seen after the clone to
night who believe that we are to have
still further declines in grain because
of the free admission of Canadian wheat
to the markets of the United States.
There are now in the Canadian visible
'!. ft0 bushels of wheat, 5,
169,000 bushels oats and 280,000 bushels
harley. A goodly portion of this grain
Is likely to be sent Into the United
States markets. There were advances
of 94c In wheat heer today, but
these prices were not fully held.
There were additional takings by for
eigners at the board, the -amount being
only 12 boat loads, but there were good
bids In for several round lots which
were not accepted by holders of grain.
Chicago received the first car of new
spring wheat of the 1911 crop today.
It came from northern Illinois, graded
No. 2, and sold at 97c.
Oats were Irregular and unsettled
with July He lower and September, De
cember and May fractionally higher.
There was a narrow and Interesting
market in provisions. There was some
buying by shorts and some little sell
ing of September lard and ribs by packers.
ENGLAND IS BIDDING FOR 1911
HOPS BUT GROWERS ARE HOLDING
With the sale of a block of 124 bales
at Sonoma, the entire 1910 crop of hops
in California has been cleaned up and
the new growth will enter the market
. without a sign of competition. The sale
was made by Doyle, and the price re
ceived was 27c a pound. This is the
highest figure of the season.
Only on lot of 1910s remains In Ore-
: gon, and efforts arc now being made to
. take thla at a high figure. This lot
: consists of 91 bales.
, Orders for new crop hop contracts
are coming forward in a steady stream.
Efforts to purchase are being made by
English as well as American Interests.
For ths coming growth 26c Is being
freely offered, but growers are at pres
ent showing no disposition to accept.
The general trend of opinion in the
hop trade is that prices will soon reach
30c a pound for the 1911 growth, and
for that reason producers are holding
back.
According to latest investigation of
the hop crop of the Willamette valley.
Oregon will this year produce between
85.000 and 90,000 bales. For a while It
was believed tnat possibly 100.000 bales
could be produced. Although weather
conditions nave Deen extremely favor
able of late, the vines did not receive
tneir growtn eany enough to produce
the heaviest yield.
In any event, present prospects are
for the cleanest lot Of hops, aa well as
the best quality, that Oregon has ever
proaucen. mis ract win make up for
any possible deficiency in the total output
, CHICAGO CATTLE STRONG
Chicago, July 22. Run:4logs, 11,000;
cattle, 400; Sheep, 4000.
Hogs are slow, left over 4600; receipts
a year ago, 10.000. Mixed 16.30 6.80;
heavy, 88.65ft6.76; rough, $8.106:30;
, Cattle Strong.
Sheep Steady.
Jan.
Mar,
May
July
Aug.
Sep.
Oct.
Not.
Dee.
New York Cotton Market.
Open. High. Low. Close
,1I0
.1213
...... ,1225
....... nao
..1260
,,,.. .1824
4 1209
.1X10
1208
1216
1226
1339
1260
1226
1210
1202 1202
1211 1212fi
1ZZ3 122 C
1315
1271
1224
1206
iiio iio
1826(
1273ii
12241
12071
12041
120
Liverpool. Wheat Market.
; Liverpool, - July 12, Close wheat
.f!f,.1,-i"J..:'-.Oct ,t.ld; Dee,
OMAHA HOGS HIGHER
South Omaha, Neb.. July 22. Cattle,
60, market unchanged; steers, 86.869
6.66; cows and heifers. 84. 7506.76.
Hoki, 6600, market 8c . Jilgher; sale
Sheep none.
New Onions Selling.
Hermlston, Or., July 22. Walter
Lloyd has been bringing into Hermls
ton some of the finest onions raised
on the project. He has a little over
an acre In onions, and haa already sold
to the stores at Hermlston over 70 dos
en bunches of onions.
Athena Wheat Good.
r- J,ul' Henry Barrett
exhibited samples of wheat threshed
this week on the Oeer Springs .ranch.
The wheat Is of good quality and will
sveragp from 26 to io bushels per
.MnV.a " -
By Hyman H. Cohen.
Not even warm weather will cause
the Pacific northwest to lose any great
per cent of Its greatest wheat crop.
While It is assured that some damage
was done to the spring grain by the hot
winds of the past 10 days, still, most
of the wheat was sufficiently advanced
to allow It to escape the serious dam
age that some had forecast.
Just what the extent of the damage
will be, none are. able to definitely
state at this time or until the final
cutting. Fall wheat was practically
ripe before the hot winds visited the
interior and therefore so far as that
planting is concerned, no damage was
aone during tne past wees.
Actual harvest returns fully confirm
former forecasts made In this paper re
garding fall sown wheat and there Is
at nrABAnt nn renson to fear that the
spring sowing has gone to the bow
wows. The fact that they have a big
crop of wheat this season has caused
some of the farmers to talk of a small
er crop than they really expect In the
hope tnat prices will be Influenced. How
ever, this would have scarcely any ef
fect upon'' prices. The small volume
of wheat that the Pacific northwest
produces is a mere drop In the bucket
compared with the world's total crop
and that is what makes the price for
tho bulk of the growth In this section.
It Is practically assured that the
Pacific northwest will have more wheat
this season than during any re
cent season. Contrary to expectations
of growers, It is the exportable sur
plus that makes the price and even
local millers are Influenced by what out
side crops amount to and what prices
are being paid elsewhere. This is ab
solutely necesBarv in the sale of flour.
With freight rates rsther small, flour
can be, and is being shipped from one
part of the United States to another
and from . this country to the orient
and to Europe. These sales are made in
competition with the rest of the world
Therefore it is absolutely necessary
that they secure thel- wheat at a price
that will not be hli .er than the rest
of the world is paying.
Barley Outlook Good.
With actual returns from tlie eastern
bailey fields showing a .very poor con
dition, both as regards quality and quan
tity, the outlook for prices on the Pac
ific northwest growth are exceedingly
f;ood. The only drawback would be the
mportatlon of Canadian barley if the
reciprocity matter goes through. This
would not be nearly so damaging to the
sale of the Pacific northwest growth
as believed by name. The fact that
Canada is already sellng Its barley
abroad and secures a good price for
It, would naturally force Us price high
er to meet the American view an soon
as the reciprocity treaties would al-
low Amerlcnn buyers to bid for the
northern offerings.
It is now practically assured that
some of the barley grown in the Pac
ific northwest this season will be sold
to eastern Intercuts. Inquiries regard
ing the crop and the quality are al
ready coming forward. This is a straw
which shows the way the wind Is blow
ing. As soon as the full extent of
the damage to the quality of the east
ern growth Is shown, actual buying is
expected on the coast by eastern in
terests. S, Oats Prospects Fair.
With a rather liberal crop of oats
In the Pacific northwest, the prospects
for the price are only fair. While
there Is a shortage In tne oats produc
tion at middle west centers, an un
usually good crop Is shown In Okla-,
noma In most sections notwithstanding
the fact that the drought hit the south
west very hard this season.
Bids for new ,oats started In Port
land this week on the basis of $24 a ton
delivered but no sales were made-
In fact the general cereal situation
Is quiet at this time so far as the mar
ket is concerned, mere la scarcely a
buyer In the Pacific northwest who did
not bid too high for wheat at the start
or the 1910 season and none are will
ing to repeat the performance this season.
Efforts of the representative of tho
Farmers' union to excite the dealer
tnis year have thus far proven fultle.
The report that all the wheat was going
to' be sold within a week or two has
not alarmed buyers In the least.
Await Foreign Bids.
Despite the efforts of some leaders
of the farmers to Incite them against
buyers, the latter are willing to do the
right thing whenever they can. Com
petition for grain is so keen at times
that all talk of a combine or under
standing between dealers Is absurd. It
is postlvely known that at certain times
the bids of dealers In this city alone
have shown a range of 4c a bushel for
the same grain.
Owing to the losses sustained last
season by reason of the too quick
buying of wheat at the start of the
cereal year, exporters are waiting to
see what foreigners Intend to do. Upon
their bids depends entirely what the
price will be at Pacific northwest
points.
ner crops. The more conservative, how
ever, place the yield at from 86 to 45
bushels an acre for fall wheat; spring
wheat at 25 to 40 bushels and barley at
from 45 to 66 bushels, according to the
nature of the soli and the location of
the land.
Heavy Crop at Springdale.
Springdale, Wash,, July 22. Haying
has begun In this vicinity, and ac
cording to all reports so far brought In
the yield this year -will be one of the
heaviest ever known and the quality of
the very best.
Fall Wheat Excellent.
Llnd, Wash., July 92. Several com
bine harvesters have started In the Llnd
country and yields are much heavier
than was expected. Mr. ,Sauer, north
of town, Is getting a little better than
25 bushels an. acre. Mr. Robbins, south
of town, is getting 36 bushels and Mr.
Of eller about 40 bushels. The fall crop
will he the best In years, while the
spring crop will be lighter, but a fair
average.
Crop Not Injured.
Oakesdale Wash., July 22. Crops in
the vicinity of Oakesdale show no in
Jury by the hot wave of the last week.
Close inspection of all kinds of grain
fails to disclose any Injury either to
fall or spring wheat, oats or barley.
There Is a large acreage of oats about
Oakesdale and this grain is now In head,
but examination shows the heads are
filling clear to the top, and in all the
fields examined, the soil la found to be
moist a little below the surface.
Peaches Are Ripening.
Davenport, Wash., July 22. With the
finish of the cherry harvest at Peach,
on the Columbia, the first peaches are
ripening, and will be placed on the Dav
enport and Crcston markets during the
present week. The cherry crop was
heavy and sold at good prices, ending
at $1.60 a box. The present peach crop
will be the heaviest In the history of
that fruit growing community, accord
ing to pioneer producers. The trees
are weighted with the fruit. Apricots
will he a full crop, while apples, which
bore heavily last season, will be com
paratively light.
Argentina Crop Report.
Buenos Ayres, Argentina, July
22. Semi-official reports com
ing from the grain belts Indi
cate that "the condition of the
wheat crop is below the normal
In several provinces.
Indian Crop Damaged.
Calcutta, India, July 22. Re
ports of damage to the growing
wheat crop are now coming for
ward, and while the news would
not indicate any serious condi
tion, the outlook is less favorable.
Russian Crop Threatened.
Odessa, Russia, July 22. Re
liable Information coming from
the grain fields says that the
wheat crop is threatened with
serious loss. Other grain crops
are affected.
heavy, averaging two tons to the acre.
The first cutting of alfalfa ran about
two and one hair tons to the acre, and
the second crop, which Is now is Inches
to two feet high, promises a yield of at
least two tons.
Kendrick t Bean Crop.
Kendrick. Idaho, July 22. There will
be a banner bean crop, regardless of re
ports relative to ihe output being cur
tailed by the rain preventing cultivation
at the proper time.
It Is estimated there sre now 3000
acres of beans in the Kendrick district
and it is believed the yield will average
1500 pounds to '.he acre, making a total
output of 4.500.00C pounds, the largest
crop ever produced cince beans were
Introduced Into north Idaho aa a field
product.
Wheat Crop at St. John.
St. Johns, Wash., July 22. Harvest
of fall wheat began this week, with the
prospect of a fine yield.
Grain Crops Heavy.
Winchester. Iriaho, July 22. Grain
crops around Winchester are above the
average. Winter wheat is showing o0
bushels to the acre. Oats and barley
will reach 80 to 100 bushels.
Crops Best in Years.
Quincy, Wash,, July 28. Harvesting
Is in progress and crops are the best In
years. Fall wheat and -rye are makltfg
an unusual yield. -
Heat CutTGriln Tield.
Ralston, Wash., July 22. The heat of
the last week iias Injured late eown
spring grain. It will reduce the yield 25
per cent.
Sun Helps Fruit.
Davenport, Wash., July 22. The
warm days of tha last week have given
a color and flavor to the river cherries
rarely if ever surpassed In the history
of that fruit belt, according to C. L.
Detilllon. a pioneer grower residing on
the Spokane river north of Davenport,
who marketed a large quantity of Bing
cherries In Davenport Saturday
"There will be more Blngs along the
river than for several yanrs," said Mr.
Detilllon. "Royal Anns, which generally
weight the trees, are less plentiful this
year, although there la a good crop
Peaches will not be as abundant as last
year, but the slsie and quality are bet
ter, and the growers will realize as
well."
By. Preston C. Adams.'
(PnblUoers' Press LmmhI Wirt. V, 1
New Yrk, July 22. Not even crop
scares are able to stir the stock mar-
Ucet out of its hot weather lethargy. As
u naa Deen oo not to eat any more
than is necessary to keep tha body and
soul together, to wear any more clothes
than the law compels or to do anything
that can ' possibly be avoided, general
business Is dull and stagnant.
Tne big urusaeii steel conference,
with the certainty as Wall street re
gards It of an International steel trust
whloh will make the American trust
look like a "two bit" concern, excites
a languid Interest and Is perhaps talked
about more than any other one thing.
. Just what effect these gentlemen's
agreement in the world's steel trade will
nave on tne trust ousting program in
thla country remains to be seen.
During the first six months of the
current year tho railroad. Industrial,
mining and otlwr corporations In the
United States have Issued new securi
ties to the"grartd total of 11,228,467,960,
as compared with 81,048,481, 60 last
rear, showing, tnerefore, an increase or
181,086,000. The railroads were wholly
resDonslble for this Incresse, their of
ferings having reached $866,417,900. or
$188,160,660 more, than In the first half
of 1910. Of this increase, fully 60 per
cent consisted of short term notes.
Murmurs of discontent are again
heard in the financial district against
the occupation oi a very Jmportant part
or Broad street dv tne euro Droaers.
The New York Curb Market association
is now composed oi approximately 240
members, the largest number in the his
tory of the curb. As the membership in
creases, the space on uroan street oc
cupied by the market extends and now
covers a larger area than ever before to
the great detriment or an uiu i
traffic Tn nn nther nart of the cltv In
any such occupancy of streets permitted
and people are beginning to ask why
such special and valuable privileges
should be extended to a body of out
side brokers who ought to have a regu-.
lar meeting room, the same as any
other body of brokers who deal In se
curities. . A
Since the controversy between the
city authorities and the New York
stock exchange In regard to the engrav
ing of the last Issue of New York city
bonds, these securities have been dealt
In on the curb. This Is regarded as a
sharp move on the part of the curb
association to carry favor with Mayor
Qaynor so as to continue the occupancy
of a leading thoroughfare without pay
ing any rent or taxes.
Formerly the curb market was
crude affair. Now it Is a regular or
ganisation with officers, same as tha
New York stock exchange or consoli
dated board. Both of these institutions
pay heavy' taxes on real estate they
occupy. Their real estate adds to tha
beauty of the financial district and doea
not Interfere with traffic. The curb as
sociation -occupies the street, Interferes
no taxes. People are asking, "Why thla
lavonteiimr
The pollclnr of New York financial
Institutions should be most thorough br
and by. The national bank examlnera
are arrangtng to cooperate to the fulleat
extent with the state examiners here, aa
well as In Jersey. Not only so, but tha
clearing nouse wm snortiy nave a wen
organized corps of examiners who will
do their work In a way that should
mean the prompt detection of weakness
or worse. The ganklng code of morals
has improved greatly since the ante
panic days. The banishing of Charlea
W. Morse to the penitentiary and tha
prosecutions of other bankers has also'
had a salutary Influence, while tha
Mew York banking position has also
oeen airengmenea oy tne elimination ox
several weak Institutions. Mergers of
banks sometimes possess undesirable)
features, vet the talcln over of a fat
hering concern by a strong one Is not
inirequenuy ine preventive or trouDiev
chiding trustworthy savings banks, it is
unlikely that in New York -the deposits
In government savings banka will reach
a nuge sum. ,
. inaustriai eorporationa Happily are
tree rrom neavy maturing obligations
during the next 18 months; We showed
some time ago that the railroads wsra
confronted with maturing bonds and
notes aggregating uowarda of 8440.000..
000 before the end of 1811. The lnduaVJ
trial total Is very much smaller; ltM
aoea not reach 8&o,ooo,ooo. Short term
notes are responsible for fully half. For
ths whole of the current year the notes
falling due Just exceed $20,000,000, while.
ror iiz tne iigure is siigntiy in excess
or tza.uuo.ouo. Maturing ponas tnis yesr
toot up to ibb.uuu.ouu. wneress next
year the amount Is very much smaller-
less than $6,000, uoo though this figure
may do sweuea later, very rew stoeK
Issues are now being paid for on the
Installment svstem. so that the wav to
clear for the raising of a good deal of
new capital snouia monetary conditions
prove favorable.
UNION PACIFIC IS
HIGHER ON RUMORS
Report of Another Segregation
Plan Brings Out GootfLine
of Stock Buying.
Biggest Crop Likely.
Athena, Or., July 22. Grain harvest
commenced this week in the Pine Creek
district and the biggest crop In the his
tory of that district is reported. For
the most part bluestem Is raised there,
and the season has been particularly fa
vorable to that variety of wheat, the
jtveather being ideal for perfect ffHing
na ripening.
Nez Perce Grain.
Nez Perce, Idaho, July 22. Beyond
a doubt the farmers of Ner Perce prai
rie will this year harvest the heaviest
crop la the history of farming on the
Nes Ftree reservation and the quality
and yield will be uniform through the
entire region, according to farmers and
grain dealers familiar with the exist
ing conditions.
Frank Johnson, a pioneer of the prai
rie, who farms 1000 acres -four miles
southeast of here, says that the yield
will be at least 20 per cent greater
than it has ever been before, and pre
dicts that there are not enough bags or
dered in the north Idaho district to sack
more than four-fifths of the crop.
Camas Prairie Grain.
Grangevllle, Idaho, July 22. While
crops on Camas prairie, owing to the
heavy rains during June, are more back
ward than at other points In north
Idaho and are not yet sufficiently ma
tured to permit of anything more than
an approximate estimate of yield, the
pioneer farmers and grain men feel
confident that the output for Idaho
county will be the largest ever mar
keted, some predicting as high as 25
per cent Increase over tha previous ban-
Half Apple Crop.
Outlook. Wash.. Julv 22. A sum
ming up of the fruit situation here in
dicates that the leading varieties this
year will be Rome Beauties. Wlnesans
and Jonathans. There will be less than
half a crop. The pear crop is verv
good especially Bartletts. Early apples
and cherries are a very light crop.
Wheat Is Good.
Ralston, Wash., July 22. Arthur Her
ring delivered the first load of new
wneat at tnis place to tne Seattle
Grain company, ft was extra clean and
tested 62 pounds. Wheat has opened
for the new crop at 88 cents for red
and 70 for bluestem.
Hay Is Good.
Falrvlew, Or., July 22. Having Is In
full blast. The croD Is of roori mmlitv
t and quantity with a fair price. Som.
iiiijhi imy is eeiuiig at io per ton in
the field. Grain is showing up well and
will yield well if hot weather does not
continue too long. '
Hay Outlook Light.
Rosalia, Wash., July 22. The hay har
vest thus far this year has been very
light when compared with other years.
On account of the fine grade of fall
wheat most of this is being saved for
the threshing machine. Farmers Will
cut the -bulk of their hay from spring
wheat, which they expect to be of in
ferior, class. Many farmes have cut
only enough fall wheat to clear roads.
The second crop of alfalfa will be ready
In a week. Timothy hay has been cut,
many farmers storing as much as 200
tons.
By Thomas C. Shotwell.
(B.T the International News BerTlce.)
Wall Street. New York, July 22. Re
vival of rumors that another segrega
tion plan Is being worked out for
t'nlon Pacific is the cause of the active
speculation In that stock the last few
days. Buying of the stock Is such as
to furnish a desirable basis for such a
rumor and therefore profit taking ap
pearing In that Issue today was not
taken seriously by the street. It is
noted that the stock is absorbed on
every hand and Morgan brokers have
been buying Union Pacific persistently
for the six months every time It showed
weakness.
All stocks were somewhat reaction
ary today under the Influence of profit
taking.
With the Improved agricultural situa
tion stocks enjoyed a rally this week
that carried some of the standard
issues to new high records, particularly
Canadian Pacific and Union Pacific.
n
MARKET
I
HIGHER AT CLOSE
All Grains Are Strong in Chi
cago Pit Russian Crop
v Is a Factor.
Range of New York prices furnished
by overbeck cook t o.
Description
Fall Wheat Safe.
Spokane, Wash., July 22. Repotrts
have been received during the last three
days that little damage has resulted to
the wheat crop. The reports show that
there is no damage to the fall wheat,
as the hot spell arrived too late, but es
timates are that there will be a decrease
of from 6 to 15 per cent In the spring
wheat In some sections. The reports
show that the crop of spring wheat will
run from 16 to 25 bushels of grain to
the acre.
La Grand Crfp Assured.
La Grande, Or., . July 22. From all
kinds of crops record reports of large
yields are coming. Mr. Ecclcs, presi
dent of the sugar company which op
erates a. factory here, has Just returned,
pleased at the outlook. The warm
weather, with the ample rainfall thin
section Is experiencing, has Insured
bumper crops.
Stevens Connty Corn.
Glfford, Wash., July 22. The corn
crop for this part of Stevens county
has the prospect of being the beet in
years.
Timothy Hay Good.
Ferrell, Idaho, July 22. The ranch
ers will begin haying this week. Ow
ing to the abundant rainfall and warm
weather the timothy crop is very heavy.
Banner Grain Production.
Pleasant Valley, Wash., July 82. The
f raln crop this year will be the best In
he history of tho valley. This is espe
cially true of winter wheat, which Is
now being cut. Tha grain Is unusually
well filled and plump, and the quality
will be good.
Spring wheat and oats, of which there
Is a large "acres ge, Is ripening slowly
and filling nicely, with nromlse of an
exceptionally heavy yield. Timothy 1s-
Grain Prospects Better.
Walla Walla, July 22. Grain pros
pects In the Walla Walla valley are
considerably more encouraging at th-!
ena or this week than at the end of
last. It Is probable that the damage
done by hot winds and hot weather will
not exceed five per cent, if Indeed It can
be figured at all. Ip some portions of
the country, it Is true, there will be a
notloeable shortage, but In these places
It would be hard to estimate It at more
than 10 per cent. In other localities
grain is not damaged at all. -Eureka
Flat is the hardest hit. but It Is believed
that 6 per cent Is a liberal estimate of
damage In that locality. There will
never be any way of definitely ascer
taining, or course, iust how hard the
grain was hit; but the outlook is much
more cheerful than a week ago. '
Grande iRonde Wheat. -Elgin.
Or., July 22. Favorable weath
er wfll give the Elgin section a magnifi
cent crop of wheat that will yield ap
proximately 460,000 bushels from an
acreage slightly less than Is usually glv
en over to small grains.
While there la. an increase of practi
cally 20 per cent in the total acreage
th) amount of fall grain sown Is fullv
10 per cent more than usual, this ii
part accounts ror tne greatest wheat
crop that the Lower Grande Ronde val
ley haa ever had.
Spring grain will average 80 to 35
bushels per acre, with favorable weath
er conditions from now until the grain
Is In the sack, barring hot winds or a
wet harvest there is nothing to hinder
a good yield from the spring grain. Like
the wheat crop, the sowing or barley is
most, excellent around Elgin. The aver
age showing Indicates a harvest of 40
bushels, although the barley crop Is
much, later than usual. The quality of
barley Is unusually good- and for that
reason the crop is considered the best
ever grown here.
. Grain Not Bnrned. , , t!
Davenport, Wash.', July 22.-The ex
traordinary warm weather' of the last
week' Instead of burning, the grain se
riously, as was feared, sad which would
have resulted had the heat continued
for another two days, only tended
to hasten ripening, though on , high
ground some damage resulted.,
Amal. Cop. Co. .
Am. d & F., c.
Am. Can., c.
do. pfd
Am. Cot. Oil, c.
Am. Loco, c. . .
Am. Sugar, c. .
Am. Smelt, c .
do. pfd
Ana. Mining Co,
Am. Woolen, c.
Atchison, c. ...
do. pfd
Bait. A Ohio, c.
Beet Sugar ....
Brook. R. T.
Can. Pacific, c.
Cen. Leather, c.
do. pfd
C. G. W c. . .
do. pfd. .....
C. M. & St. P..
C. N.-W., c.
Ches. & Ohio .
C. Fuel & Iron, c
Col. sou., e . .
do 2d pfd . .
do 1st pfd .
Consol. Gas
Del. & Hudson
D. & R. G., c.
do pfd
Eric, c
do 2d pfd . .
do Istpfd .
General Elect.
Gt. Nor., pfd .
Ice Securities
III. Central . .
Int. Harvester
Int. Met., c ...
do pfd
Lehigh valley . .
Kansas City Sou.
Louis. & Nash. I.
Open! Hlghl Low I Bis
69
86
iivi
69 Ti
118
103
109H
64
83V4
246
SO
22
128
82
35Vi
14694
172
87
48
69 .
138
146
K24
61
176
162
Man. RAIL 142142
87
60
1
86
ii
80
113
103
10994
649
88
248
80
22
129
82
36
14694
172
37
48
59
138
145
124
61
175
162
37
Miss., K. & T., c.
do pfd. . . ,
Missouri Pac,
Nat. Lead. ..... 66
Nev. Cons 19 19
N. Y. Cen 1109 109
N. Y.. O. & W.. 4S 46( 46
Nor. & West., c.'108108108
North Am I
North. Pac. c. . . 18 4 94 1 8 4 94 1 34
Pac. M. S. Co. . .1 80 I 30- i29 U
l
69
86
'79
118
103
109
54
8294
245
2294
128
82
35
146
172
??5
68
137
145
12394
51
1T4K
162'
142
69
512
67
41
118
80
107
89
3194
113
103
109
64
82
246
29
100
418
128
148
BZ
35
66
76
82
H
172
28
6794
36
4794
68
181
187
2294
145U
128
17
61
174
35
162
142
Chicago, July 23. Grain markets
were strong today, with wheat leading
the advance. July. September and De
cember wheat closed higher than
last night's close. Corn was up from
to , Oats did not go beyond 94
to for the latter deliveries, and July
was lower.
The wheat market had strong open
ing and bettered It later by a sharp ad
vance that carried prices a shade above
the best prices of the day, c higher
than closlna- flaures of yesterday. Soma
Impression had evidently made out of
the dispatch tnat i.oov.uuo people in ma
southern cereal belt of Russia were
threatened with famine because of tha
dent runt Ion of wheat and other crons.
Smallness in the current receipts of
corn, liberality of the shipments and
numerous reports from the country of
the deceptive growth of crops added to
the strenrth of corn. Exnerts examin
ing the crop In various parts of tha
country declare more rain Is necessary
to save the crop.
Influenced probably by the opening;
strength of corn, oats openea ai
slight Improvement, although In sym-
nathv with the mors important cereal.
was withheld because of the expected
recelDts in areat volume from the new
crop. The country offerings still are
very liberal, dui somewnai emaiier men
they have been.
Range of Chicago pricea furnished by
Overbeck & Cooke Co.
WHEAT.
Open High
Ju v 86
Sept. 88 8
Dec si 9'iv,
60
66
19
108
Penn. Rail.
P. O., L. & C. Co.
Fressed 8. C, c,
do pfd, ......
Reading c
do 2d pfd
do 1st pfd. .
Rep. I. 8.. c.
do pfd. ..... r .
Rock Is., o . . . .
do pfd
S. L. & S. F., Id .
do 1st pfd- . . . .
S. L. A S. W., c.
do pfd .......
S. P..
South. R'y.. c...
do pfd
Texaa 4 Pa. . . . ,
T., 8. L. & W.
U. P., c
do pfd .......
U. S.i Rubber, c.
do pfd ....,.
TJ. S. Steel Co., of
aa pra . ... . . . .
Utah i Copper,
Va. Chemioal ...
Wabash, o . ..
jlo ,,,,..,,
W. U. T. ......
Weet'house Elec,
Wis. Central, c .
.1126
126
I06i;m
87 87
168jl58
8094 i
83
66
4894
Total sales, 153,100.
3094
' 83
u
124
83
74
28
192
86
4
80
11?
60 ;
. 1
. , . t
. . . . .
126
87
394i 8694
67
a
19
108V4
48
108
74
134
2994
125
106
87
102
167
96
0S
8094
94 v
l
48
6694
825
70
124
83
74
29
44
191
85
41
U8
80
11894
IS
16
86
75
88.
15794
30
33
66
48
July
Sept.
Dec.
July
Sept.
Dec.
July
8ept.
Jan.
July .
Sept.
Jail. .
July
Sept.
Jan.
sn High
1 8714
8 89
92
CORN.
8894
64 8I
62 62
OATS.
40 46
41 41
43 44
PORK.
Low
8
88
91
Close
87 A
88
91
8
64
1
40
41
43
6394 A
66 A
63
115
1660 1660 1660
LARD.
820 820
827 827
' 'ribs
887 637
847 850
797 802
164S
1660
1647
A
817
827
838
847
797
820 A
827
827
835
847
802
Cutting Fall Wheat.
Waverly, Wash., Juy 22. Farmers in
this locality, are starting to cut their
fall wheat and several binders started
today. By the first of the week the
harvest will' be on In full blast. Tha
farmers report that wheat headed much
better than expected and that there are
no signs of rust and very little of
smut.,
Hay Crop Heavy.
Kallspell, Mont.,-July 81. Hay harv
est la now In progress throughout tha
valley and the crop Is proving excep
tionally heavy and of good quality. TJn
lrrlgated fields are cutting two tons
to the acre of timothy, while Irrigated
lands are producing more than that.
Overbeck &
Cooke Co.
Commbuon Merchants
SUkIu, Bomb
Cotton, Grain, Etc
' 216-217
Boara of Trade BuiUing'
Kecabers CMoago Board e Trade.
Corespondents of Logan BryasY
. Calosfo. New 8estoB
Ws have tha only private wtrs ;
! MBscttas; Peruana wits ths v
eastern cachanirea.
. .V :