The Oregon daily journal. (Portland, Or.) 1902-1972, December 24, 1911, Image 42

The Oregon daily journal., December 24, 1911, Page 42, Image 42

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Newspaper Page TextBATE OII1D MARKET Ellla NEWS CP"""! gp THE UmmJ WORLD AIM OVERFLOWING STOCKING LABELING OF COLD STORAGE EGGS WOULD DO MUCHTO HELP POULTRY .. INDUSTRY OF THE ENTIRE COUNTRY Law Should Compel Handlers to Place Proper Sign Over Article Would Mean That Product Would Be Sold for What It Reallv Is Ice House Stock Is Sometimes Pre TEN CENT RISE IN STEERS IN WEEK; FORMER SURPLUS BEING WORKED OFF Steers Sell Up to $5.90 for What Are Ordinarily Called Top pers With Decreased Run in North Portland Yards Packers Continue to Pay . More for Hogs From Missouri River Section Than Is Offered for Local Stuff. ferred to the Fresh by Select Discriminating Consumers r Lai.sifcooal - G$3tfe3tfCn A JttA Aher . ainT peg rj4 0 o ' (NO SM Cl JC Hy Hynian H. Cohen. Now that the law Is reaching out for Crooked egg handlers of California ana the city of Seattle in Washington has enacted an ordinance that will eventual ly put a stop to Illegal traffic in eggs. It Is planned that the state of Oregon pass some measure that will give con sumers a chance for their money as well as foster the poultry and egg in dUHtry of the state. ..i. Selling of cold storage rgps as fresh ranch eggs has txn-n going on for many vears. The cheat has been practiced itpon both producer and consumer and thereby has hurt the legitimate dealers who prefer to do business honestly at o smaller profit rather than sell a pro Suet for something that it is not. Storag Sot Responsible. Right at the start it might be said that the operation of cold storage plant Is not harmful to the egg and poultry Industry of the state or country. Cold storage really evens up condition and while rightly conducted the business brings down the price of eggs during the period of lean production; it helps to maintain prices during theose times that eggs are so plentiful that unless the surplus can be laid aside for the "rainy dav." the price of the commodity would drop to such low figures during April and Slav as well as during other months of plentiful production, that pro ducers would lose therebv. In fact the heavv profits that are paid to be possi ble in the production of eggs are made during the so-called flush of the sea son and not at the time when eggs cost a nickel each in the retail shops. There foro rightly conducted the storage or eggs for winter's rise is the best possi ble thing that could happen to the poul try production. EOT Should Be Labeled. There are alwavs interests who are willing to take a chance to make great- TURKEY MARKET HAS GOOD END ALTHOUGH ARRIVALS ARE HEAVY Offerings of Dressed Birds Greater Than Kxpccted, but Average of 22 Cents Ponnd Is Obtained; Quality Superior to Any Previous Year. The market for turkeys closed exactly as had been expected. It has been the rule that whenever a favorable price la uliown for Thanksgiving, the market has a reaction toward Christmas. Considering everything, the Christmas turkey market has been unusually fa vorable this season. With the greatest volume of offerings .ever known, the trade took hold of supplies and paid on an average of 21!c a; pound for fancy dressed birds. Salts were made fraction ally above as well as below this fig ure. Those that had turkeys to offer ran afoul of the pessimistic feeling which had been gathering in the retail trade wince Thanksgiving. AVhlle for that trade retailers paid very liberal sums for their birds, the public bought them for less. This condition resulted in the dealers deciding that under no circumstance would they purchase birds for which they would be forced to charge consumers more than 2.: rents a pound. While 'a few extra select turkeys were sold by Jiigh-prif ed retailers at fractionally bet ter prices, the bulk of the offerings moved to consumers at .5 conts a pound. This is a popular price for turkeys and as long as the public is not asked to pay above that figure it would purchase sup plies jn a liberal amount but beyond that figure the demand Is curtailed con siderably. Good Birds Come Forward. One of the best features of the tur key market during the past week was the fact that far the greatest percent age of the dressed birds that came for ward, were of extra good quality, while the reverse was the case for the Tranka glvlng trade. This is explained by the fact that the season blurted late mid therefore when the usual time came for shipping the bulk of the birds which is Thanksgiving-tliy are not in proper condition for the trade. As usual Hie Portland market comes forward with the best showing for con sumers. While the market here was lightly depressed, owing to the greater volume that came forward, the trade on Pnget sound and in California wan downtrodden evn to a greitter extent. This proves th;i I'nrtland is the best market for shippers to take care of and while it is possible that on a few iso lated occasions the prlre may be slight ly higher elsewhere, shippers receive bettir returns bv sticking to the trade here. Other Fowls Are Firm. Not only did the turkey market hold Itself creditably during Christmas week, but th. re was a Rood feeling in the poultry tinde gcneral'y. The greater number of dressed geese that lame forward, found a better de mand than expeeted and prices were un usually favorable almost to the last minute. At no time was any weakness notletli!e In the trade. Uressed duels were very scarce dur ing the week and this enabled receivers to obtain slightly higher prices than would rule had offerings been normal Wild gese found only a fair call villi practically the same pricos in ef fvv.i as last week. POKTiiAND jorrmrsG PRICKS Orals. Float and Kay. These prices are those at which whole salers sell to retailer except as other Wise stated: WHBAT Producers" price nominal track delivery, club, 79c: bluestem in" 82c; forryfold. 0i)81c; Willamette val ley, SOc; red Russian, 78c; Turkey red 0h1c. 7 ' BARLFY Producers' Ttres 19H Feed, $3238; rolled, $34036; brewing .7 s uT8 Produc-rs" price Track No 1 rpot delivery, white, $30030.60; gray, i0. ' MTLLHTUFTS- Belling price Bran, 114.60; middlings. 131.00; snorts. 125.60 ebon. iB.0OCPZB.uu. HAT- Producers' prle ln r0n Valler timothy, fancy, $16J1; ordinary 113 V 14; eastern Oregon, I18.60S17: Idaho, SIT: mixed. $12815: clover, fid fll; wheat U: cheat. $11; alfalfa. IlljllS; oata. til. ". . rtXJtm e!llnsr prlea Patents, $4 60; Willamette. It. 8$ per barrel; loos' straight, $4.05 94125: bakers', $4.I0V 4.10; rtpnrt grades, $S.5. Batter, Cggs mm poultry. 7 BUTTEtt Kxtra creamery, cubsnd tubs. Sic: prints. 17c: ardlnary prints, Tr;:or; aiirv. isgpjsttic. - fcUTTCR -KATI-roou lucers piioe r. cr profits in the sale of eggs by the substitution of the cold storage arti cle for the fresh product. This in it self is not an aid to the cold storage industry but is a detriment to those that, market really frt-sh stock. In localities that have laws which make handlers walk the narrow path, cold storage eggs are generally sold as such; thus allowing a consumer to know definitely whether his purse would ad mit of the purchase of the fresh stock or the cold storage article. As a rule the law compels the seller of cold stor age eggs to displav a placard or sign over packages of eggs, whether they re main In the original cases or are placed in some other package for better dis play. Therefore at a glance consumers could see whether they are paying mon ey for cold storage or for fresh stock. Storage Xggs Are Best. Strange as It may seem to the aver age consumer, there are periods of the year when eggs that have keen kept In storage for a month or so are really bettr than what are generally sold as fresh stock. This is generally during the months of July and August, when the weather is so warm that a large par cent of the so-called fresh eggs are reallv of inferior quality. Then, the hading cafes of the country prefer eggs that were gathered In April and had been in the Ice house under scientific conditions. It is not the seller of cold storage stock who Is entirely to blame for the sale of Inferior eggs. There are certain country Interests, not many of them perhaps, who knowingly ship eggs to I. aWn Vinirii Knun linear as ViAn fnr 1 1 ui I r.fi mat i-vn wuvi nomf davn and which were later neg- IrClcU. Jl CUUl or nun curb uu hvv v- rfluae all wholesale handlers carefully "candle" every etfg and the unfit stock la olthr sold for a "second" or la en tirely excluded from sale. HOLDINGS OF CATTLE OFF FARMS GREATER THAN 10 YEARS AGO Number of Animals Held on Suburb an Places Increases From 1900 to 1010; Government Report Creates Much Interest. The recent report of the United States department of commerce and la bor regarding the number of cattle not on farms, has created much interest as It shows a general Increase during the past 10 years. The figures regarding the number of cattle on the farms are not vet available but the number held by residents out side of the farms Is of very much In terest as It shows that suburban homes are raisin - more animals than formerly. The figures show for th various states in this territory: Oregon. i fin 1900 All cattle 17,006 15,296 Dairy cows 12, OH 10,222 Other cows 895 163 Yearling heifers 1.014 89 "alves 1.697 3.120 Yearling steers 826 1,102 Others 560 Idaho. 1910 1900 All cattle 10.040 5,683 Dairy cows 6,13 2,691 Other cows 1,169 642 Yearling heifers 678 407 halves 1,203 1,324 Yearling steers 567 719 Other steers 305 Washington. 1910 1900 All cattle1 21,730 19.121 Dairy cows 15,266 11.809 Other cows 99(1 300 Yearling hoifers 1,439 1,274 Calves 2.291 4276 Yearling steers 1,216 1462 Other steers 629 California. 1910 1900 All rattle 46,176 34.694 Dairy cows 29,962 19,611 Other cows 3,442 984 Yearling heifers 3.170 367 Calves 6,056 4M78 Yearling steers 2,312 I 234 Other steers 28,264 ' Montana. 1910 1900 All cattle 11,200 6,468 Dairy cows 5, 45 3 281 Other cows 1.174 680 Yearling heifers 643 354 Calves 3.101 1,301 Yesrlin" steers 661 1,680 Other steers 842 Includes hulls. Included with steers. o. b. Portland, per pound. 8c. EGGS Local extras. 3636c; spot buying price. S4o f. o. b Portland; eaptern fresh. 29ff30c: Aprils. 26e. POI'T,TRY Fancy hens, 13c; springs, 13c; geese. 12ttl4e; dressed. 1416c; live young ducks. 17c: old ducks, lie: turkevp. alive, nominal. 19e; dressed, 1622c; pigeons, old, $1; young, I2 GAME Jack rabbits. $1 1.25 per doien. CHKERE- Fresh Oriron faner. foil cream, triplets and daisies, 17He per lb.; Young Americas, llo; storage flats. 17c; Young Americas. 18c Bops, wool ana Hides. HOPS Producers' price 1H crop choice. 43 He; prime, iiyie; medium. 41 (ft 42c; 1909 growth, 20c; 1912 con tracts, 22Uc; 1913 and 1914, 17c lb. WOOL. Producers' price Nominal. 1911: Willamette valley. 14HO17W0: eastern Oregon, 901SO. MOHAIR 1911. selected, IBOITe CHITTIM BARK Producer" price in. cariuis, dwki carrots, IHe, f o. b. Portland. Tll.tnW Prim. TV .Y- . .. . , . . IV., nv. A, and rreese. 2fl3Hc. HiDKKpry hides, lc; green, 9 10c: salted hides lOdMlw bulls, green salt, 8c; kips, lie; calves, dry, 20c; ?if kJnA.?Rlt.ea or Teen. 17c; green hides IffliHc less than salted: Sheep pjlts sal ted, Novsmber. 90c; December, II; dry, lOVic lb. , Orooerles. SUGAR Cubes. J0.80; powdered, $8.60; Tin. nb,rrf;' ,M.i ir' irranulsted 16.40 D yellow, .70; best, $8.40; Honolulu plantation cane granulated. 5o ctsh Above Quotations ar 10 days net 4uV- wTi'f??' No' 1 0e: No. i Hc. New Orleans nead. SHOo; Cre we, 0. eA.LT-?0r". half around loo. 18.50 r;r.toni ,so. $ 00: table dairy. . $18; mVierVnd lU ,4,! ,WnP rOC,, 52SJ-W.'. 13 78 rM'' V;,S: i,,nk 4 I5: bayou, $.76j Llmaa, $7; reds, 5 60. V REVIEW OF Potato Growers of State Are Holding Back Offerings; Market Quiet. Potato growers are not so willing to let go of their supplies and during the latter part of the week, there was a de creased movement all around. For some weeks there has been a tendency to let go of ordinary quality but even these offerings are drying up. While growers have stopped their former liberal offering, the price has not reflected any change In the senti ment of trade. California la still out of the market so far as table stock Is concerned but continues a customer for American Wonders for seed. NEW CHI NOOKS ARE COMING First Offerings of Run for 1012 Sea son Sell High Here. A small number of extra fancy Chi nook salmon was caught In the lower Columbia river during the past week. The fish came direct from the ocean, and were therefore renreaen tatlves of the new catch. Canned salmon market remains steady, with practically no business re ported passing during the week. With wholesalers as well as retailers taking stock, there Is little Inclination among either Interest to do business. There fore prices, even though they were shaded temporarily would scarcely at tract the attention of buyers. DRESSED MEATS HOLD WELL Best Offerings of Voal Range as High as 14 Cents a Pound. All through the week there was a good to strong tone in the dressed meat situation along Front street. Dressed veal came forward fairly free, but vith the Increased call came a slight tightening of prices. Sales of best quality were made from 134 to 14c a pound. Dressed hogs reflected some of the weakness shown In the stockyards re cently, but prices are practically un changed. WHEAT ON EXPORT BASIS Club Closes Six Days' Business at 70 Cents, Track, Tidewater Points. Wheat market closed the week on an export basis. While there was a small spirit of speculation during the early period owing to the damage reports which came from Argentina, former pur chasers were offering to sell later at shaded quotations. Business during the week was of small moment pending the holidays. LARD STOCKS INCREASING Surplus in Northwest Is Growing but Price Is Lower Than 1910. Storks of lard In the Pacific north west are slowly Increasing, but as the price Is somewhat lower than at this period a year ago, no anxiety Is felt regarding the price. During the coming week no change In the price of nor products is anticipated by local packers. - Packing house beef is expected to hold steady with the smaller surplus held In their feed lots. STILL CUTTING CANNED MILK Only Leaner Known Brands Are Par ticipating in Present Movement. There has Dot ben the slightest Im provement In the canned milk situation during the past week. Cutting of prices continues, but practically only the lesser known brands are showing actlrlty In this line at present. List prices are generally the eame as last week. EGGS ARE HOLDING STEADY Market Shows Decreased Supply at Start but Improves Later. Market for eggs held rather steady during the past week. While there were decreased offerings during; the firnt ways of the week, later supplies be came greater and no advance was forced. As a rule sales were reported during the week around 85c and I6e a dozen. A nominal number crt sales were closed at 87c, but those that secured this nrloe did not receive their share of the week's arrivals. SNOW PROTECTION FOR WHEAT WHERE IT IS NEEDED THE MOST 4 Snow fell In many parts of the 4 Inland Empire during the past 4p week, and th wheat plants in 4p the colder sections have a fairly 4p good covering for protection. In 4 other sections where there was 4 no (show; the weather continues ' 4 favorable and the crop Is In x- 4p cetlent condition. 444444444 NORTHWEST Wheat Market Placed Upon an Export Basis and Growers Are Holding Back. Wheat was plaoed upon an export basis In the local as well aa other Pacific northwest markets during the past week. Toward the close of the week specu lators began to weaken somewhat in their views, and were generally willing to accept the quotations available. The market for flour remained dull all through the week. While a small amount of business Is passing with China and Japan, trade remains on a nominal basis. While millers have gen erally figured for some time that China will need considerable flour soon, the business has remained small for some weeks. Credits abroad are not as good as they might be, and this Is the chief Influence that is holding the oriental flour movement in check. Patent flour Is very quiet with no change In prices. 44 Markets of the Week. 4 Egs hold steady. 4 Chickens move well. 4 Turkey prices lower. 4 Geese and ducks firm. 4 Salmon begin to run. 4 Hops hold steady. 4) Cheese firmer for fresh. Expect butter decline. Dressed meats firm. Wheat on export basis. 4 I,ittle flour Is moving. 4 4 ONIONS MOVING OUT PAIR About Ten Carloads for North and Interior California Cities. There was a fair movement of onions outward during the past week. While no meeting of the Confederated Onion Growers' association was held yester day, it was learned unofficially that aDout 10 cars had been disposed of during the week. The movement of onions continues both to northern points and to interior California cities. Price Is nominally unchanged at $1.18 per cental f. o. b. country shipping points. HOP BUSINESS HOLDS STEADY Sales Closed Principally Between Dealers; Lota Are Small. There was a small amount of business closed In the hop market at Willamette valley points during the past week. Trade continues principally between dealers. Owing to the limited offerings available the lots now selling are of few bales. Good stock sold around 48 4SHc a pound. APPLE MARKET STATIONARY Little Business Passes Locally Dur ing the Past Six Days. There was but little change In the apple situation locally during the week. While there were offerings of slightly Improved quality along the atreet, as a rule there was little stock available ex cept poor to choice goods. Prices show no changes. HOGS OFF AT OMAHA South Omaha, Dec. 23. Cattle, none. Hogs 6700; market steady 5 and 10c lower at $5.95(0)6.16. SheepNone. BY WILD MR CURRENTS (United Press Leased VTln.i Oakland, Cat, Dec, 28. Weldon Cooke, the Alameda county aviator and Uni versity of California graduate, who re cently sprang into the limelight by fly ing over the top of Mount Tamalpals, has added fresh laurels to his aero nautic career as a result of his return trip to Oakland, after one of the fiercest battles with the elements ever fought above the clouds. When Cooke left Mill Valley on his return, he encountered a conflicting se ries of treacherous air currents, which buffeted his frail air craft viciously and threatened to swamp it. Unable to turn back, he was forced to soar to a height of 8S00 feet before he could con tinue. All the way to Oakland he was fighting steadily with death. The ma chine was tossed like m cork' from cur rent to current, now springing upward almost beyond his control, and again de scending with the velocity of a released parachute, ' until stopped by another current . and tossed : about at a ' nasty angle. The biplane which completed the trip was constructed by Cooke himself. WELDON COOKE TOSSED PRODUCTS Expectations Are for a Quick and Sharp Decline in But ter Early in Season. To date this season, the market for cold storage butter has been unusually Door and profits of speculators have been out to the quick. While there has been a very favorable market for freshly churned product, loe house stock has been showing a drag ging disposition all season. With mild weather generally in evi dence all along the coaat, leading mak ers are now predicting that the market will break at an earlier date than usual and for greater sums. At this time the fresh butter trade remains rather firm. With the eastern markets still at the record mark and with California again filling orders there, the situation In the Pacific north west has been helped thereby. HEAVY SALES OF WOOL Boston Market More Active; Situa tion Opposite That of 1010. Boston, Dec. 23. There were heavy sales of wool on the Boston market the past week a conservative estimate of transfers showing a total of 10,000,000 pounds. Territory clips are mostly pre dominating. The whole situation is the reverse or that or a year ago. Supplies in the hands of dealers are small and producing sections are believed to have little left. Very little foreign wool was sold this week, and purchases abroad for American account are very small. The scoured basis for best staple is 61 62c for fine, 67 68c for half blood, 60o for three eighths and 47 48c for quar ter blood. CHICKEN MARKET ACTIVE Strength Is Better Than Expected With Offerings Increased. While showing only a fair degree of strength during the past week, the chicken market was active. The move ment was greater than had been ex pected and prices were quite well main tained. One of the features of the week was the leveling of prices between springs and hens. For a while hens were com manding a prmlum over the younger birds, but toward the close of the week both were on the same basis. FRESH CHEESE HARD TO GET Market in Very Firm Position With Prospects for an Advance. Owing to the very limited make of cheese at this time, local stocks of best quality are unusually short at this time and prices are holding firm. The price at present Is the mere matter of mak ing by iobbers. Considering what they are asking for eastern cheese, the local product should be selling at least a cent higher than at present. HAY REMAINS INACTIVE Millie Offerings Are Limited Cur. rent Demand Remains Small. Market for hay remained inactive all through the past week. There was not very heavy offerings, but so full Is the trade at this time that It does not take much to block the channels of business. Prices generally are nominal at last week's ruling. COARSE GRAINS ARE QUIET Bales of Oata at $80 and $30.50 for No. 1 White; Small Lots. All coarse grains were reported quiet in the local market this week. Borne small business was reported for oats on the basis of $3080.80 for No. 1 white, track delivery. A small amount of feed barley was re ported sold at high prices of recent weeks. CABBAGE A NOMINAL SELLER Demand Slightly Improved Locally . but Trade Is Very Disappointing. There was onlv a nominal movement of cabbage In the local market during the past week. While business was fractionally better in this line than during recent weeks, trade is still very much of a disappointment. Price in a jobbing way remains nominal at $1 per cental. PACIFIC NORTHWEST WHEAT CARRIES BIG PRIZE AT CONGRESS ev Pacific northwest wheat has carried off the honors at the 4 Fifth international dry farming congress, recently hel J at Colo- 4 4 rado : Springs. ' The prises were 4 4 secured for Idaho growth, and 4p- included a golf medal for Cans- 4 dlan hybrid wheat and a silver 4 medal for bluestem. Idaho oata 4 4 secured a white ribbon. : ' .' 4 . PORTLAND LIVESTOCK HUN.' Week. Hogs. Cattle. Calves. Sheep. Dec. 28 8758 887 20 8044 Dec. 16...... 8888 1416 28 10e Dec. 8...... 1812 461 86 2765 Dec. 2 1842 885 108 2981 Nov. 28 1811 1094 186 8968 By Hyman H. Cohen. The expected improvement In the cat tle situation Is now materialising. Dur ing the week there waa an advance ot 16o 1n the price of steers, with tops moving toward. the close at $8.90. There was a smaller run of cattle at North Portland this week as compared with the previous six davs and this la one of the greatest helps to the trade. as long as snippers were wining to leea killers with all the stock they needed, there was no' advance In price. How ever, as sopn as It became evident that shippers had begun to realise that they, and not killers, were really the factors which make or unmake prices, butchers began to offer a fractional advance for the better class of supplies. Packers' Surplus Decreasing. Surplus of rattle in the hands of kill ers has been decreasing during the past 10 days. Nearby feed lots and a por tion of the stockyards have been used by killers .to tako care of their forced purchases and these places are being emptied at a rapid rate. The result is that packers are reaping the benefits of the former low levels because In the absence of heavy shipments they have been unable to secure a steady market for their dressed' product and obtain firoportlonally a higher market than hat based upon the price they paid for their livestock. North Portland general cattle range: Select steers 5.R05.9o Fancy steers 5.65 5.75 Choice steers 6.60 if 5. SO Feeders 4.60 Common steers 5.00 Fancy heifers 6.00I96.2.S Fancy cows 4.8506.00 Feeder cows 4.50 Fancy bulls 4.254.50 Good ordinary bulls 4.00 Stags 4.25 Fanoy light calves 8.00 Medium calves R. 0013 5.60 Ordinary calves 4.000 5.00 Praetlcally all the cattle that have come forward recently have been from the home territory. Cattle run. wek 867 Same period. 1910 2, 32.1 Month to date 4.060 Same period. 1910 4,147 Tear to date 76,629 Same period. 1910 89,405 Eastern wine Bnoouraged. Swine growers in the Missouri" river section continue to find encouraging de mand from Pacific northwest packers, while local Interests find a more quiet reception. Liocal packers are again bringing In hogs from the South Omaha territory and are paying more for these hogs delivered than they are. willing to allow local producers. For instance, while the South Omaha market was 6 to 10c lower yesterday. It cost $7.25 to. New York Financial Letter By Preston C. Adams. (Publishers' Pre LeMed Wire.) New York, Dec. 23. J oat now of course business In all lines Is dull and will be for a week or two. The holiday trade is over and after the holidays there will come stock taking and the clearing away for active business of 1912. This means of course that busi ness from now until the middle of January will be practically at the stand still. In figuring on the business of 1912 it is Impossible to leave politics out of the equation. A survey of presidential years of the last half century shows, however, that when presidential campaigns have in volved Issues of great moment to busi ness, and the outcome has been In doubt, or so long as it has been In doubt, business and stock market Improvement have teen exceptional. The rule would be to expect the contrary. The present issues of politics are of so vital a na ture to business aa to make the political vear which ends next November of al most unparalleled importance since the Civil war. There Is certainly doubt enough about the outcome as regards parties and persons. Whether or not doubt obtains as to the way In which the Issues are to he settled, for what policies the people will vote and wheth er or not they will approve a program of constructive radicalism or conserva tive progresslveness. Is another ques tion. At the moment it seems to be the idea that politics will be Impressed by the general desire of business improve ment and expectation of It to conduct political debate away from radical measures. There is a disposition therefore to look for an unusually good year for a presidential year. Operations of the various industrial corporations of the country continue on a basis of about 75 per cent of capacity. Certain branches of business report full operations while Others are considerably below the average of 75 per cent. The steel industry of the country continues to hold sround 75 per cent of capacity. The volume of new business has in creased 10 to 16 per cent over the Inst three weeks, and prices are a shado firmer. However, the margin of profit on steel and iron products Is smaller than it has been In years, and the in crease in business has not been fol lowed by a corresponding Increase in Income. The fact that large consumers of steel are endeavoring to close con tracts for material on a basis of present prices for future delivery, gives suffi cient basis for the Impression in con suming and producing circles that prices have about reached bottom. The copper Industry over the last two months appears to have emerged from its long period of depression. In this country and Europe the surplus ap pears to be equivalent to not much over six weeks' consumption. The figures for November were encouraging In the extreme. Copper producers appear con fident that the Industry has turned for the better, and that next year will wit ness a further decrease In surplus stock. The dry goods trade reports Improve ment, with an Increase In the percentage of active mills. The demand for goods also shows expansion. The equipment situation Is better than it has been In a year, but car buy ing has resulted In no sharp Increase In operations. The car companies are operating between 58 and 60 per cent of capacity, but at one time during the year on a 38 or 40 per cent basis. Car purchases over the last two months ag gregate close to 60,000 and with fur ther buying of consequence, the equip ment companies early next year ehouid be operating close to 76 per cent of capacity.. Building operations throughout the country continue large. The falling off in the east has been offset by increased construction in the west. Blectrical companles sre doing a fair business. While no new high records are being established, the volume of In coming business is not far from what it was a year ago. This is a gdod show ing when' the absence of large contract is taken Into consideration One prominent . manufacturer,, who land these supplies here, although noth ing better than $6.50 has recently been available for the product of local farms. North Portland swine values: Best packers $ 8.60 Oood heavy 6.48 Good light ;. 6.45.50 Rough and heavy 6.00Q6.35 That the quality of the home hogs bears favorably with those Imported from the east has been the conclusion reached by all disinterested parties who have seen local as well as outside ship ments. During the week there was a run of 2753 hogs, compared with 8698 last week. Some of this week's arrivals csme from South Omaha. Week's hog run 2,768 Same period, 1910 2,000 Month to date 11,808 Same period, 1910 3,059 Year to date 85,287 Same period. 1910 82,400 Sheep Market Is Tlrmer. At slightly better values than ruled a week ago, the sheep market at North Portland closed firmer this week. The run was almost 1000 head greater than during the previous six days, but the demand was better in every particular. Sheep values at North Portland: Select lambs 3 5.10 Choice lambs 4.7504.80 Common lambs 4.004.25 Yearling: lambs 4.50g 4.73 Old wethers 4.00 Fancy ewes 3.45O3.R0 Ordinary 3.00S.25 Total offerings for the week Included 3044 head, compared with 3106 last week. Week's mutton run 3,044 Same period, 1910 1.450 Month to date 10,680 Same period, 1910 8.316 Year to date 294,181 Same period, 1910 166, $45 Monday's livestock Market. STEERS. Average Lbs. Price. 27 steers 1127 35.75 25 steers 1187 6.40 24 steers 1154 5.35 1 steer 1100 6.00 21 steers 939 6.00 COWS. 9 cows 940 84.76 1 cow 930 4.25 1 cow 1130 r 4.00 1 cow 1060 8.00 H0O6. 60 hogs 212 $8.1 S 89 hogs 1 218 6.85 99 hogs 176 B.40 102 hogs 190 6.40 100 hogs 195 6.40 RUN OF LAMBS. 110 lambs 78 $4.86 110 lambs 80 4.85 131 grain-fed lambs .... 82 5.65 246 mixed 98 $.76 The hogs reported at this price were not realiy sold at North Portland today, but were purchased at the Lewis ton fair by S. ft S. for delivery at Port continued on Following Page.) kseps in close touch with the business situation, figures that the improvement in general business In November was equal to about 10 per cent. The In crease has not been accompanied by ma terial advances in prices. Sentiment In business circles is, per haps, better than it has been at any time this year. Consumers are buying with a degree ef confidence not notice able two years ago. If nothing de velops " to create disturbance, business men believe .this confidence will grow and by the spring of next year wheels win be turning and there will Be less leue laDor. According to a compilation made by Mining ana engineering world, tnt .11 months of the year have been profitable to holders of stock sanely operated mining properties to tne extent ot 176. 062.767. Participating In these die iiursemente were 149 companies, 113 companies, 113 d States, 19 In ind one In Cen il disbursements s, including the operating in the United Mexico, 17 In Canada and tral America. The total of these 149 companies, November declarations, reached the enormous total Issued capital of the 149 companies, is equivalent to a return of 107 per cent, or approximately $66,000, 000 In excess of the outstanding capital. One of the most Interesting tables In the annual report of the comptroller of the currency is that showing the distri bution of loans according to security. Th total on collateral security, aggre gating demand and time loans, was never so' great In the history of the national banks as at the date of the re turn last June, which the comptroller uses for 1911 in order to make compari sons with preceding years. On that day the amount of loans on collateral was $2,071,300,000. The probabilities are that these loans have not diminished since then despite the liquidation in the summer. The June figures make a very excellent showing for the year In which speculative and Investment enterprise was supposed to be of modest preten sions. Daniel Willlard, president of the Baltimore & Ohio, and probably one of the closest students of railroad economy in the country, estimates the capital needs of American transportation lines in tne next rive years at 1500,000.000 per annum. This is half the amount in s nt lis I. which James J. Hill said would be re quired. For new facilities alone last fiscal 'year the Baltimore ft Ohio spe over $27,000,000. At the same rate th! would have meant an addition of nearly $1,600,000 capital on the 245,000 miles of main line in this country. Mr. Wlllsrd's Inquiry as to how this money can be raised unless railroads have fair treat ment Is understood to be also pertinent to the Inquiries made by members of the Hadley railroad commission. Overbeck & Cooke Co. BROKERS Stocks, Bonds Cotton, Grain, Etc 216-217 Board of Trade Building Members Chicago Board of Trad. Correspondents of Logan A Brysu, Chicago, New York. Members New r York Stock Exchange, Boston Stock Exchange, Chicago Board of Trsde, New York .Coffee Ex- cbsnge,. New York Cotton Ex. -change, New Orleans Cotton Ex change. Winnipeg Grain Exchange ' 'V