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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Sept. 3, 1911)
6 ' ' THE OREGON,. SUNDAY TOURNAL. PORTLAND," SUNDAY ' MORNING SEPTEMBER 3 1911. . . ' ..'' '. .' v' 'M7CB MARKET 1bqndsJ NEWS jg OF THE LggggJ WORLD Washington Officials I Admit Oregon's Lead By Hrman H. Cohen. . A frank admission has been made r by the management of the Spokane Ap ple onOW mil UmgWI iron mo world and there Is not the slightest use for Washington growers 10 compete with the product of tbUJ state so far aa quality ia coacernea. Heretofore Oregon ha a captured al . the leading prises at the show and for that reason Washington growers havs felt very wroth. Now It is Jn tended to make the pack the basis of awarding the prises and no matter how . poor the quality, the pack will. capture the ' honors. This ia taken by Oregon growers to mean that the Spokane officials no . longer will tolerate the capturing of the apple prizes by Oregon growers. In the following interview E. F. Car tier Van Dlsse!. who has been identified x with the Spokane Apple Show since its inception, naa let tne -cat. oui 01 -mo bag' and It Is therefore likely that the . leading districts of Oregon will refuse to compete ror prizes wnicn rc sup posed to be for Washington growers: "We think the greatest problem has been oJved by abolishing the quality ratings at the 1911 show, and we be J lieve the growers in all parts of the country will be glad to learn of the action of the management of the show. We always felt that some western ap plet had been handicapped in the past, but we wera not in position to make any changes until this year. Now that this question has been settled, I look for Entries from all parts of the United tates and Canada, particularly ' the Western country." -v- ' Kay Have Oregon Show. 1 . There is a strong movement on foot to hold a show of apples where Ore gon fruit may receive proper credit 1 1 Since the Spokane officials have de cided to practically bar- the world's pre ' mler fruit sections from competing for prizes in order -that Inferior quality fruit should get the credit, it is qurte liki-ly that Oregon growers will be com pelled to enter Into competition with the Spokane show. It is contended by the fruit Interests here that Portland would be the Ideal location for the holding of a national apple show. The ract mat this state has always captured the best prizes for apples would not aeter omers from . entering the field because- the stock would be Judged on the merits of both quality ana pacK ana not accora lng to the place it whs packed. There has been trouble in the ranks of Vashington growers every time Ore- ?on fruit lias been exhibited at Spokane, wo years ago a certain prize was awarded to applea from the Rogue river district. ' Falling in their attempt to secure the award, growera of the Yak ima section protested the decision but the superiority or tne Mearoro iruit waa so marked that it was. finally de cided to allow the award to stand. How ever, to appease the Washington grow ers a special prise was allowed them. Quality Better Than Ever. It is stated in some quarters that the decision of the Spokane apple of ficials to award prizes for pack and not for quality, la due to the reports from the Hood River and Rogue River orchards that this year's crop will show . the beat quality ever put rortn rrora those districts. That this Is so, is indicated by the recent reports erougnt out oy tne visit of apple buyers from Europe and the east. Practically everyone has stated that the apples of Oregon promise to neat even ma nign recora 01 quality always held Dy mis state. FLOUR AND WHEAT TRADE OF JAPAN Notwithstanding That Japanese Government 1$ Making Every Possible Attempt to Foster Milling; American Product Wilt Continue in Demand- Walla Walla to the Front , 1911 Grain Harvest ! s Almost Completed v By Hyman H, CohAi. 1M KM nt thm TnrtRf aUCCeSSfUl tnnwn th vraln harvest of 1911 Will ' east Into history within a few days. At this time operations are almost com plete, only scattered threshing still re gaining and this can be fully cleaned during the coming week. Bumoer crops have been shown on 11 aides and with few exceptions pre- harvest forecasts have been fully con- firmed while In some of the better sec tions the gathering has been greater ttan expected. ' Most favorable weather conditioni lave been the greatest help toward Kthering the present cereal crop. La r.was plentiful in-all districts and . this too had a beneficial effect and en abled .farmers to garner their crops be-tpre- damaged by adverse conditions, i Again It has been demonstrated that ne fall sown grain is far the best pro ducer in the Pacific northwest and therefore with favorable weather con 7 dltions during 'the next month or so there -will be a greater acreage planted during the fall-winter season than ever . before.' V l i y Jail Bowing Starts. 1 Fall sowing of wheat haa already started in a limited way at some Pa cific northwest points. Initial opera tions were in the Palouse country. Too . early sowing may prove a mistake as it is not advisable as a rule to plant seed In the'-dust owing to the danger of weeas big Increase in the production of fall winter sown barley over the spring ar ticle. (Naturally this will have a ten dency to cause adltional fall planting the coming season if weather conditions are favorable. At Grangevllle, Idaho, a XieJJ of 96 bushels an acre was har vested from a field of winter sown bar ley. Some especially good crops of wheat were sown in the Willamette valley dwing the past-season. In the Waldo Hills country, Adam Burnt harvested a crop of 43 bushels while Louis Geisler, In the same section secured an output of 54 1-3 bushels. Other excellent yields in the Willamette valley were shown. Manuel Bishop garnered an average of 35 bushels from his field at McMlnn vllle, Joseph Heaton had 43 bushel av erage at Laurel and Frank Settlemeler secured an average1 of 40 bushels of wheat and 65 bushels of barley from his tract at Woodburn. Showing In Idaho. Very favorable showings are noted in tho -Idaho country where J. E. Hlles harvested an average of 47 bushels from 200 acres near Grangevllle and John Lantlng secured an average of 42 bushels of wheat and 60 bushels of barley from his land in the same sec tion. A number of 50 bushel yields are reported from Julietta, Even at Juniper, Wash., an average of 22 bushels of wheat was harvested by Roy Winn from 700 acres. This is ex tremely light land and the showing re " Another feature that was eaoeciallr fleets the general conditions all through noticeable in the 1911 harvest was the J that , section of the northwest. INDIVIDUAL GRAIN YIELDS Grower District. Grain. Acreage. Garfield Bronton. Walla Walla, Wash. .Wheat Leo Cockrun, Dixie, Wash Wheat ., 80 Arthur Kershaw, Dixie, Wash Wheat , 60 DeLorlmer Bros. Waitsbure. Wash Wheat 102 C M. Price, W.iitf burg. Wash A. W. Menett, Pullman. Wash.,... J. F. Harris, Hartllne, Wash Leo Reinhart. Hartllne. Wash...'. 3. S. Klpnigard, Pullman, Wash. C. E. Moody, kind, Wash George Robbins. LInd, Wash... Otis Leonard, Rltzville. Wash.. Roy Winn, Juniper. Wash ..Wheat 140 .Wheat 238 .Wheat , 40 4.... Wheat . ....Oats .....Wheat Wheat Wheat Wheat 960 100 320 400 H40 700 Louie Geisler, Stayton, Or Wheat Adam Burns, Waldo Hills Wheat 20 Joseph Heaton, laurel. Or Wheat P. H.. Stephenson. Condon, Or Wheat Cooke Bros., Condcn, Or Wheat Manuel Bishop, McMlnnville, Or Wheat 16 T. C. Morrison, Grass Valley, Or Wheat R. L. Benge, Herpner, Or Wheat Frank Settlemeler. Woodburn, Or Wheat Frank Settlemeitr, Woodburn, Or Oats Wit & Lantlng. Grangevllle. Idaho Wheat 27 J. E. Hiles, Grangeville, Idaho Wheat 200 John Lantlng, Grangevllle, Waho Wheat 26 :John Lantlng. Grangevllle, Idaho Barley 88 -Columbia Clark. Julietta. Idaho .Wheat 155 -W. L. Hall. Julietta. Idaho Oats . .- . 169 Ted Roberts, Big Potlatoh Ridge Wheat '.' F. Q. Nuxall, Cottonwood, Idaho Wheat 60 John Lantlng. Grangevllle. Idaho Oats 110 Charles Everett,-Grangeville, Idaho. .. .Barley 9 A. P. McBoyle, Grangevllle. Idaho Wheat 110 A. P. McBoyle, Grangevllle, Idaho Barley 65 Av. Yield. 61 63 56 49 36 48 30 27 30 30 24 30 22 64H 43 40 15 15 35 7 13 40 65 60 47 42 50 60 60 ' 61 96 46 52 By liOvett M. Wood, United States Commercial Agent In Japan. While Japan's Imports of wheat flour ancr wneat in liu snowed remarKaoie gains over 1909, and this applies par ticularly to shipments from the United States, the general desire of the people is that the government's efforts may be successful in these as in other lines of production and manufacture, and that the Increased culture of wheat and -milling flour may result. In the immediate future, in rendering it unnecessary to Import flour, although for some time yet American wheat is expected 4 be required in Increasing amounts to sup ply Korea and some China markets that will not be satisfied with flours made of strictly Japanese. Chinese ' or Man churlan wheats.' Japan's rlou Trade. In 1910 Japan imported 201,703 bar: rets of wheat flour from all countries, valued at J866.140. and of this amount the United States furnished 186.992 bar rels. . valued at $808,925. Japan's im ports of flour in 1909 were 170,791 bar rels, valued at $713,706, of which the United States supplied 162,298 barrels, valued at 1636.618. The Imports of flour for the first five months of 1911 amounted to $424,186, against $ZB,7iU for the same period of 1910. The aver age annual purchase of flour by Japan fnr iha mat io vfuu-s has been about $836,600. Imports during the first five mnntharnr lBii exceeded me oeoauo average for that period by over $75,000. The fact that shipments of Pacific coast flours to Japan in 1910 snoweo an in crease of $168,407 over 1909. coupled with the increase during the current year, would incline one to believe that th annnnncfld Intention Of Japan to develop domestic production so as to be Independent or roreign supplies materialize so soon as anticipated. There are phases of this question mat nave more particularly to do with wheat, which will be considered under that heading. It should be borne In mind that rice reached a record high price in Julv. because this fact has an im portant bearing on the wheat and flour trade. American Prodnot In Demand To date the flour situation haa not been a discouraging one. What the Pacific coast mills can do toward meet ing tho production and price of Japan ese mills; the advance In customs duty, effective July 17, from 72 21 to 92.13 cents per 100 kin (132.27 pounds); the possibility of the rice and wheat crops of Japan beihg seriously injured or destroyed by floods and bad weather, are among, tne ractors io oe cuimiu ered, but I am Inclined to think that there will still he a demand for Amer ican flour in Japan, and certainly in Korea and aomaparts of China with which Japan is increasing us traoe relations. Much, of course, depends upon wheat prices In the United States as well as the wneat production oi .Tansn. China and Manchuria. Austra lia's trade wll depend upon all of these Its shipments last year Deing i8,toi against $10,648 in 1909. exDected to cartall Pacific coast ex- Dorts to Japan, a large part of Amerl can exports (Including flour), are not entered for consumption In Japan and are -Transshipped" at Kobe, Mojt and other ports for Dalren, Antung and Ko rea. Such shipments will not Me much affected bv the new tarirr, especially some established brands which have characteristics that can not be substi tuted by the Japanese flour. Such brands at least should continue to have an increasing . demand In the markets mentlohed.f-:"1'. j Bon roe of Imports. The following table shows the im ports of flour into Japan, by countries. in 1909 ana iiv: 1910. Countries 1909. Pounds. Value. U. S $635,618 36,660,662 $803,926 Canada 67.023 1,825.855 37.228 - About 90 per cent of tha wheat imnorted into Janan la Walla Walla ' whit anil: fhat . rmln. f bluestem. Some report that the wheat often arrives In bad condi tlont not being properly sacked;, the few double sacked shipments' are recelvedn excellent shape. The excuse for not double sacking is that competition is so close that ' snippers can not afford it Some of the trouble is undoubtedly due 4 to the way the wheat Is handled , on arrivar. Delivery is made by lighters, sometimes by the steam-- 4 ship companies, and often by the importers. One large importer, 4 when asked If this could not be corrected, said that it could be by the steamship companies com- Dining and adopting a uniform procedure of delivery only by their own lighters; that this 4 would be fair to all and make the discharge of cargo much mors satisfactory in many ways. Australia ... 10,648 804.863 Dutch India 244,964 China 8,579 6,74 All other ... 1.038 3,306 18.561 6,225 130 71 CROP IS GREATER; LESS FOR MARKET Supply for Trade Is 298 Cars Compared With 303 Cars a Year Ago. ORtfiON ON'ION CROP. - Acreage lll 1H1 o 175 lfiit 20 35 42 6 102 15 27 60 43 '4 40 5 60 15 50 37 17 30 Cars it'll 1910 HO 12r, 10 17 30 ;r, 25 H6 2 :i 44 70 8 8 25 16 30 40 2; 15 18 15 370 34 72 46 298 . 303 Bherwood . . Spoils .... Beaverton . Cedar Mills Oaston .... Tualatin . . Hlllsboro . . Cornelius .. Woodburn . Mulloy . Milwaukee . . 17 22 bcauering Total 629 605 Cont'd seed For market. ... ... With Tualatin crop in 1910 .vcord.ln 10 the estimates made by the Confederated Onion Growers' aso elation at their meeting yesterday, the : onion crop of Oregon This season will reach 870 cars, compared with 34 cars year ago, while the commercial park excluding the contracted stock which goes to ad houses will total but 298 rars tjompared with 303 cars a year go. Therefore, while the total crop is greater, the amount available for WsrVet wtll be slightly less thon In 1910 The acreage in Oregon this year is givsn at 6291 acres compared with 505 acres In 1910. -: At. the meet trig the association ' ves-, terday the annual election of offi'ceri! was held. A. J. Fanno was reelected rrldent and J. N. Miller Secretary, while. O., P.' I.srsen was secured s treasurer. Sol. Weckert was elected first vice president. K, E. Berst second vlea president Hind J. S. Barnes third 'Vtc president. The executive committee is composed of A. J, Fanno, M. F. John- on ad Ol Olsen. FIRST CAR ONIONS GOES TO ALASKA Initial Shipment of Oregon's 1911 Crop Is Sold to the Far North at $1.10. The first carload Of new crop Ore pon onions started today for Puget mind. enroute to Alaska. The ship ment was made from Tualatin and the price Wftg Bet at ji 10 per nijndred pounds, f. o. b. shipping pojnts.. This compares with the opening at $1 a year ago. Another carload of onions is being prepared for shipment at Clackamas and will be for the same destination. The quality of this year's Onion crop n Oregon Is said to be the best ever Known even In this state where good onions are common and poor quality rare. Eiies are excellent. Big Peach YieU. Freewater. Or., Sept.' 2. Oeorge Rob inson, who owns a fine young fruit or chard about a mile and a half west of Freewater, ran show a banner record from his peach trees this season than almost any one In the valley, consid ering the slrt of his orchard. From 190 trees planted Just three years- ago he P.ainerrt 700 boxfi" of poaches, of the Elberta variety, for which he received ilih, 'LiPT1 " box. The trees were so heavily loaded that they had to J propped. On one tree, about flv iV rShJSr one' branch 18 inch. wJ'f iWlt.hJ7 PPhes on. Dur- JUL . bl wm'1 rtorm Mr. Robln- h?i?-AaK. iha he W0uld this branch which he was watching With TITS '"'efft but the slfalfa grew so thick and long under the tree, that " wrniP.?1' 10 the ground. fm,l .L'mv Vf.nn another, successful RiL?nclir llvln on the next place.to WMS Sr'u"8,,118 ot Peaches from flUed i1.lchAi l Pejcbes which just eatv'Pf" b0 'f n'ch he re- Total 712.706 39,586.296 866OJ0 . The value of the imports at the sev eral ports in 19V0 was as follows: Yo kohama. $443,824! Kobe. $227,160; Nag aaaki, $8,954; Mojt, $102,686; other ports, $84,116. In 1909 the imports were distributed as follows: Yokoha ma, $469,379; Kobe, $102,051; Nagasaki, $16,691; Mojl, $72 859; other ports, $51,- H2 rioor Killing Industry. There are 14 modern wheat flour mills In Japan, as follows: Dally Capacity Firms and Location. Barrels. Toa Flour Mill Co. Tokyo 675 Japan Flour Mill Co., Tokyo, (3 mills). Tatebayash (near Tokyo), Yokohama, Utsonomlya (near To kyo) 3,800 Japan Flour Mill Co., Kobe 700 Masuda Flour Mill Co.. Kobe 1.000 Japan Rice Polishing Co.. Kobe 400 Asahl Flour Mill Co, Kyoto 200 Nagova Flour Mill Co., Nagoya... 125 Sapporo Flour Mill Co., Hokkaido.. 200 Shlrolshi Kosan Co., Shirolshi... 100 Total 7,200 A new mill is under construction at Moji. as a branch of the Sapporo Flour Mill Co., with a capacity of 1600 bar rels per day, The machinery was brought from the double mill formerly at Hongkong, and It is a question if the capacity of both mills will be worked. The Japan Flour Mill company and the Nlsshln Selfun Kaisha (Japan China Flour Mill Co.) contemplate build ing two mills near Hakata (on Kyushlu Island). There are also a few mills having some modern machinery, with a combined dally capacity of about 600 barrels, grinding under the old style aa well. In addition there are many native mills grinding in the old fash ioned, crude wav. but aa thv hv. cheap water power they can produce flour at a considerably lower cost than the modern mills. It Is imDossible tn ascertain even approximately the wheat nour production or japan, and any fig ures given in this line are open to seri ous doubt. The modern millers, like many other users of machinery whom I have interviewed In th far ir. prefer American makes, because, they give better returns, are better finished. aim me mure complete. May Import More Wheat. The Toa Flour Mill comnanv ha. branch mill In China. Tha flnn rf mand of the Tokvo district ta nrt as about 7500 barrels per month, which the mills there supply. The Kobe mills are said to have sold a total of 487,600 barrels last year. The Maauila mm wa originally built by the Centennial Mill cumpany, or Seattle, wash., and was sold some time ago te M. Masuda, who is me largest riour dealer in Yokohama. The first flour mill on Kyushlu island was started With foreign capital and afterwards sold to a Japanese company.! The leading flour merchant of Kobe, who was the pioneer In Introducing Pacific coast brands in western Japan, states that the Japanese mills are making strong efforts to command the trade , of Korea and China, but realise that Washington hard wheat is neces sary to mix with far eastern grain to produce a grade that will satisfy the trade of those countries, .particularly Korea. He therefore looks 'for Increas ing wheat imports by Japan, but thinks the far eastern wheat will please the Japanese bread users, who like the glu ten. v Another flour handler In -Kobe ex pressed the conviction that the advanced duty on flour will not affect outside snipments, most or . which are trans shipped from that, nort to Knrea. K also believes Japanese competition for me Korean ana Chinese Hour trade will greatly increase the lmnorts of Pa. clflc coast wheat. ' JaDanese buvers of both wheat anri flour most strongly urge a return to the old rates bv the iteamshtn lines. and they hope the Pacific coast ship pers will concentrate efforts to enforce sucn aemana. . American flour mills make a serious mistake In attempting to change brands in n v rnnrgnig in Tna rv ri onr e hnn been reported to tne by a few handlers. Once a brand of goods has been accept ed and the "chop" registered, the con sumers want that brand continued and wtll refuse a brand at lower price and often of better grade. However, the grade of accepted "chops'" might be slowly Improved and the price Increased within the limit that marks the oriental line where buying of foreign goods ceasea and substitution of native pro ducts begins. The experience of Ameri can piece-goods manufacturers along these lines for many years should em phasize this fact. I. do not mean to say that some sales may not be made, but the oriental system of merchandising gives a great advantage to those firms, factories, compradores, etc., that stick to the established brands. At all points and by all firms Inter viewed, the invariable response as to package was that all flours, except a few new ones the agents for which had not made, shippers familiar with the system of lighterage and godown handling, were well sacked and hipped. - Last year Formosa imported neanly 54.000 barrels of flour, valued $l"Tl 988, from the United States. The ds ftiand for flour is increasing aa the peopie are educated , to enjoy foreign products within their means, but what effect, the increase In duty and the riour production of Japan proper will have can orily be surmised at this 'time. It may. lead to the building of modern mills on the island in the near future. "Wheat Imports of japan and Tormosa, . japan imported 108,223,710 pound-ol wheat In 1910, valued at , $1,662,491, asainsi ,.ai,s pounds, valued at $685,140. in 1909. Of these amounts tne United States supplied 46,76,387 pounda. valued at $746,277, in 1910, against 5,588,011 pounds, valued, at $94, 109, In 1909. Imports from other coun tries in. 1910 were as follows: Kwang tung province, $367,778; China, $248,404; Australia, $215,101; Korea, $62,601; Asia tic Russia, $32,332. The Imports in 1910 were received through the follow ing pbrts: Yokohama, $681,019;: Kobe, $949,353; Osaka, $35,637; other ports, $96,482. - - The new duty, effective July 17. la " MU l J l C(CtltTf Ui; Ala 38.346 cents per 100 kin (182.27 pounds), as against 28.886 cents per. kin. under the old tariff. The Imports of wheat by Japan for the first five months of 1911 amounted to $1,804,070, against $716,801 for the same period in 1910, so that it will be seen that the purchases, almost equaling last year's total, were undoubtedly influenced.- largely by the prospective duty increase, , The total wheat production of Japan last year was about 25.000.000 bushels. gainst 22,600,000 bushels In 1909. Over four years ago it was 19,000,000 bushels. Since the modern flour mills were estab lished the production has Increased each year. Some 'of the 'millers own their grain -fields and employ labor at an annual wage of 16 to 20 yen ($7.60 to $10) for men and much' less for fe male help, the Dronortlon of which is very large. The wages are in addition to sustenance. The opinion of some importers is that, so long as the price compares favorably With that of Japanese wheat, American wheat will be In demand. The increase of 10 cents per Dicul In the cub- toms duty will not affect the wheat trade very much, as the Japanese farm ers will probably raise the price on their wheat, say, five cents or more, and the difference can hardly be con sidered a deterrent to the importation of American wheat. Formosa imported .$4,71 wosth of wheat in 1909. $300 in 1908, $1,096 in 1907. $87 in 1906. and $14,378 worth In 1906. Formosa's principal food for her 3,000,000 inhabitants is rice,' the area devoted to it being 844,450 acres, while the area In other grains is only 17,295 acres. The two crops of rice a year, when cleaned, total about 23,160,000 bushels. That practically tella the story. WALLA WALLA WHEAT HARVEST IS ENDED Walla Walla, Sept 2. Harvest Is completed In every part of the valley and the wheat hauling Is on In earnest. Two or three weeks ago harvest was practically completed, but a few belated machines continued their work until this week. Now, however, all are done, from one end of the valley to the other and foothills and flat alike are ready to haul grain and have already begun doing so in most places. It is Impossible to estimate (the crop aa yet, but in nearly every locality the yields were as good or better than had , been expected. This would tend to show that the o.OuO.OOO bushel estimate will be none too high. There wa lit tle or no damaee during the harvest. one slight rain and a heavy wind hit ting a few places, but not hard. Con seouentlv there can be said to be a full yield on the early' estimates. Hauling to the warehouses may not show lust what the croo was. either for many of the farmers are saving wheat to feed their stock Instead of barley, as heretofore. The high price of barley is resDonslble for this, and many well' posted farmers state that half a million bushels ulfference wtll be made in this county as a result. Grain Harvest Ending. Junction City. Or., Sept. 2. The middle of next week will finish thresh ing of grain and baling of hay in this vicinity. The nicKtng or late nops win oegin September 6th in most of the yards here ana win last aoout iu days. Grain Yields at Lind. Lind. Wasii.. Sept. 2. A. C. Jansen has threshed 800 acres of spring grain that made 16,000 bushels, an average of 20 busneis. Henry Kicnarason, wnose farm adjoins that of Mr. Jansen. has threshed 600 acres, which made 5000 bushels. Sixty Bushels of Barley. Cove. Or.. Sept. 2. Al Pluhkett har vested and sold the barley crop from 160 acres wnicn averaged so busneis to the sere. The entire crop has been sold to Kiddle Bros, at the price of $1.50 per hundred. INDUSNS A BETTER SUPPLY OFREADYJONEV Cash in Hand of 16 Leading . .Concerns Reaches $45, , 172,602, Compared With $44,463, 7 10-a Year Ago. MA ATM SALE THE WONDER OFSII rir nirT yj mwm ' Will Produce Quality Livestock A very good start has been made to ward making the Pacific northwest a livestock as well as a poultry center by the recent forming of the "Brown dale Farms." an incorporation com posed of men allied with the livestock trade. The company Intends to start right and will be breeders and feeders of registered Duroc Jersey hogs. A spe cial effort will oe made to elevate the quality of the nroduct of the three A farm comnosed of 46 acres has ben purchased as arf experiment and recently the first shipments of regis tered stock arrived. The land is lo cated two and a half miles east of the Willamette river above Wtlsonvllle and Is an Ideal site for the purpose In tended. The land lies in rectangular shape, In three parts, about 16 acres being upland, which will be converted as soon bh possible into alfalfa for pasturing hogs. The middle portion lies on a side bill facing the southeast, on the brow of which is being erected the hog and chtrken houses. These houses are being constructed In the most scienti fic manner for hog and poultry raising: the ideas belitg taken from the United States government. ' The third pert of the land is bottom land, adjoining the Pudding river, con sisting of about 25 acres, eight of which are genhine beaverdam land. The company Is planning going very exten sively Into the raising of onions .and probably celery. The balance of the bottom land will &robably be used for raising corn to used as forase for feedlnar hoss inrf a few carrots will be used for the same purpose and potatoes for the Portland market The company has 61 stockholders, the board of directors and executive committee being as follows: H. H. Young. W. W, Downard, A. C. Black, N. m. mon, i. in. oiiKniuer, or the union Meat company; U R. McQee, Portland Union Stock Yards company; W. A. Wll- . roriiana unit ioan company and R. H. Brown, purchasing agent. Union Meat company. , . .. The officers are: R. H. Brown, pres ident; N, B. Stone, vice president; I R. McQae, secretary; o. F silknitter, treasurer.' . . About January 1 the company ex peots to embark In the poultry .busi ness on a large scale, employing an ex perienced rnan.to devote Bis entire time ' ' w v ?' v. rail , Tl ' ',, r. v iff 'II It, 4k -':. St. VA" 4i -"T t,iTJ Bj Preston C.' Adams. (Publishers' PreH Uased Wlrt.V New York, Sept 2. Whatever . the situation may be in Wall street, and from the- broker's standpoint it ia die- on ina pari or men wno Know tnat tne f eneral oondltiona throughout the count ry are sound and that there is no rea son to feel alarm so far as any line of legitimate ousiness is concerned. . The great industrial concerns, of hlch United &tateaBfeel is a Tvne. "are uihuj gooa Dusiness in proritaDie lines. In a wholesale way the work of distri bution is going forward quietly and steadllvr- International . trade was checked Somewhat by the labor troubles in England but soon will be back in normal channels. The great' staple crops are on the whole in good shape and the railroads look for a season of activity in moving mem. With it all there is a feel Ins: of con servatlsm and caution throughout the wnoie ousiness won a, wnicn pronaoiy will continue, as next year sees a presi dential election, J the result of which is more in doubt than any for the past 20 years. This conservatism' la not regarded as a bad thing under all the circumstances. It will prevent anything like a boom but will not Interfere with the steady, profitable conduct of the business of the country. It is interesting as well as significant that a majority of prominent industrial corporations have . Increased their cash holdings over those of last year. Sixteen leading companies, viz., Amer ican Car & Foundry. American Beet Su gar, American Smelters - Securities, American Smelting & Refining, Ameri can Radiator, CornProducts Refining. International Nickel, International Steam Pump, National Biscuit, Railway Steel Springs, Republic Iron & Steel, V. 8. Cast Iron Pipe & Foundry. U. S. Realty. U. 8. Rubber. Virginia-Carolina Chemical and Westinghouse E. & M-. have reported thus far during 1911 total cash on hand and total assets, which compare with former years as follows: Year. Cash on Hand. Total Assets. 1911 $45,172,602 1, 047,462.081 1910 44.463,710 1,040,285,744 1909 89,950,612 993.869,405 It is noteworthy that cash reserves are increasing more rapidly than the total assets, for the percentage relation of cash on hand to the total assets of the 16 corporations was 4.30 per cent In 1911, compared with 4.23 per cent in 1910 and 4.03 per cent in 1909. Wall street students continue to dis cuss the distressing falling off In stock speculation. All sorts of reasons are advanced for it Here is how it strikes one imanciai authority: "Doubtless the outsider who regards speculation as a mere gamble, always loses in the long run. He makes money at first .and it is all the more certain mat ne win spread out unduly bv pyramiding his paper profits, and will lose everything at the first blr slumn. The outsider has been learning a few of mese inings during me oast rive or six years. Among other things he may have learned that the "insiders" in the Steel Corporation, the American Tobacco company, the Standar4 Oil eompany, and many other big enterprises have maae money oy putting away their se curities and waiting patiently for them to increase in value. These samples so wiaeiy published have probably not been without efject upon the small uuiuor. nas learned tne roily or pa lng 314.50 everv time he aella 1 shares of stock, upon wblcH he paid a TOiummion or iiz.du wnen ne purchased n, fciuaps noiaing 11 unaer neavy in terest charges for a rise which did not cpme in season. He has learned that the Rockefeller-Ryan system of salting I" -- ui vnikv IllVl J 11 ill?. but that it is much less expensive and more certain in Its results. "If this theory is correct that a cer tain portion of the public has learned the risks Of sneculattnn nn maraln It might account for the shrinkage In the voiume or transactions on the stocK ex- cnange. jsven professional speculators, who take oom missions to create a mar. ket for new securities, hsve had less nsaterlal to work on during the last few years than Immediately after th organisation or tne big Industrials. This accounts no doubt in part for the ces sation of active movements but It Is doubtful if such movements would again Invoke the following of a few years ago. "It is perhaps premature- to draw the conclusion that the entire public has been educated to conservatism and san ity by its experience of the last few years. The American will always take a risk." Market Suddenly ' Jumps to . $6.10 for One Lot but Local ' Stuff of Quality Brings No More Than $5.65. E 1 S (i-sS-M - Z 'k : In the past two years there have been a number of Interesting changes In the relative positions of some of our "captains of industry," so faf as concerns the number of positions held by them. The new "Directory of Dl rectors, published this week and giv ing the names of those who occupy the greatest number of seats at cor- g oration boards, showed thst W.- C. rown, president of the New York Cen tral, has taken the place of W. H. New man as leader .of the list Newman re linquishing his plsce wlths-a number of companies. F. D. Underwood, executive head of the Erie railroad, is third on the list, but instead of J, P. Morgan being fourth, as formerly, William K. Vanderbllt Jr., haa moved into that place. Two years ago he was director ln, ? .companies; now he is associated with 7. J. P.'' Morgan now Is a director in 65 companies, double tha number of 10 years ago. Unlike W. H. Newman. W. K. Vanderbllt. Chauncey M. Depew, Oeorge J. Gould, James Stlllman, James J. Hill . and Thomas F. Ryan, he has not relinquished any of his positions to the younger generation, notwith standing that two members of his banking firm. E. T. Stotesbury and Charles Steele, represent Him at 87 boards. Robert S. Lovett is gradually assuming the positions laid down by E. H. Harriman and Edwin' Hawley is Increasing his Influence considerably, William Rockefeller and Cornelius Van derbllt have ssaumed additional duties, but John D. Rockefeller has continued on only the one directorate that of the Standard Oil company. . An. indication of how some of the largest interests in the financial dis trict regard the financial outlook was given very clearly a day or two ago. A large merchant who carried- probably 1600,000 ln loans year ln and year out, went to one of the largeat downtown banks with a' view of having a oon- PORTLAND LIVESTOCK RUN. Week. Hogs. Cattle. Calves. Sheep. Aug. 8 .... 803 1776 138 9288 Sept. 2 ....'1140 1262 118 2460 Aug. 26 .... 1481 1724 207 6410 Aug. 19 ..., 1007 209S 248 10172 Aug. 12 .... 1886 7667 137 7127 Bj Hyman IL Cohen. Sals of 60S head of Montana steers bat averaged 1148 pounds at 36.10 per hundred pounds Wednesday, was the tndl ' th w,6kn The wondes' or the transaction was KnJ J."?11 M t theauallty presented ?hi it Vie "l0011 hlhr Price paid to the outside shippers than would be al loyed home producers. . r- .tS.th".n!.ia. that the Montana steers sold at.tA.fn i. l0ar teers that were just as .good duality were fatter, but would not SiaJ,-up.Iu.,i " .weI1 n killing -were 51.d.Kat.wl5f16, pd this was the last Pi?tch ,nat coul(1 b squeexed out of tne trade. . As a result of this transaction therr has been much Hiaifin . m . leading feeders of the Pacific northwest fnd.uth,tBale, na? resulted ln actual harm to the Portland marVat Y Th. k., higher prices are available for outside shippers than local feeders are able to secure la a detriment to the trade. All hands acknowledaro that h. Mon tana atuff should have been worth more money than the local top offerings of Wednesday, but the differential snould not have been more than 26c and even. 18c would have been a good showing.. uarae nan is Increased. Run Of -cattle at North Portland tir. lng the past week shows an increase over the runs of recent weeks. Thiu was due to the big. lot of 29 cars that came forward from Mnntia Th. im part, of this shipment is that the ship ment was msde to this market inthe face of the fact that North PnHUnH values were lower than South Omaha, to which place the shipper usually sends his stuff. Total offerings of cattle during the week were 2252 head compared with 1724 last Week. 2099 the nrevton n-eelc and 1776 a month ago for a like per- North Portland range: Best-steers 6.65 Choice steers '. . . . 5 60 Ordinary 4.5'fj'5.00 Common steers 4.00 4 25 Fancy heifers 4.SO4M.90 Fancy cows 4.60 Ordinary oows 3.00 4.4(1 Fancy bulls 2 nniS.ino Oood ordinary bulls 2.50 Common bulls .2.002 "5 Fancy light calves 7.00 Medium calves 6.R0O6.00 Ordinary calves 4.00 5.00 Hogs BsU at Advance. Hogs sold at an advance of 15c in the North Portland yards during tho past week, one sale being made as high as 38.60 for -light stuff. The run wss 1140 head compared with 1481 last week and 803 head a month ago for the like period. Nominal North Portland hog prices: Extra choice light 38.60 Medium light 8.35 Smooth and heavy 7.25 Rough and heavy 6.50 There was a big decrease in sheep and lamb offerings in the yards dur ing theweek. While only a fractional (Continued on Following Page.) ference to guide himself ln his business during the next few months. He had a long talk with one of the vice presi dents of the banking institution in question and was greatly surprised at the extreme conservatism ana note of caution indicated ln the remarks made by the official in question. There was no particular tone of discouragement, but whatever confidence shown wss of a negative character and when pressed for a direct reply the following- epi grammatic statement was made with a smile: "We have blank millions of money available for Investment and we have not Invested It yet." Whether it waa the bank s own money or the private funds of the large in terests associated wun tne Dana in question was not staled. But the in quirer came away with a very distinct impression that at least some of the very largest Interests In the Wall street district are not yet convinced that liquidation and pressure agatnet the market have been fully completed. Davenport Grain Heavy. Davennort. Wash.. 8ept. 2. Ootlelb Relnboldt a prominent rsncher of the Egypt country, .has marketed a portion of his fall wheat, which averaged 36 bushels, an acre. Spring wheat, from thai same ranch will run close to 26 bushels, and both varieties havs tested above requirements. Winipeg Wheat Market, ' Winnipeg. Sept. 2. Wheat trade is very light. On the opening exporters took a little around 98 V4 to He. the buying coming from cable business. Exporters continue to buy October around 98 "c. Overbeck & Cooke Co. ... , " . Commission Merchants Stocks. Bonds Cotton. Grain, Etc , 216-217 Board of Trade Budding t Members Chicago Board of Trade, ' Correspondents of Logan A Bryaa. .. Chicago. New Tsrk. Boston. Ws have the only, private wire sOBotln Portland with the ' v - ; . astern anohanges. $500,000 at 6 ee,, five or ten years, insunis from $25,000 up mv: entire; bond issues purchased ; : Timber Issues a. Specialty -V-'v the L. Y. Keady In vestment Co. . v 926 CHAMBER OF COMMERCE - "l M -it. '. . 1 to tne poultry ana or tne business. ., . Iffipotred , registered wta