The Oregon daily journal., January 07, 1912, Page 48, Image 48

NEWS
OF THE
WORLD
BONDS
GRAIN
PRODUCE
VERY COMFORTABLE, THANK YOU
BREWING INTERESTS WOULD TAKE
STOCK IS BEING OFFERED TO THEM
While Present Price Is the Highest Ever Known at. This
Time of the Year, .Growers Seem to Remember the Fact
A That They Have Received the Worst of the Deal on
V Contracting During the Past Few Seasons on the Coast.
Front Street Acts as Buffer Between Packing Houses, Pro
ducers and Consumers; Therefore All Interests Receive ,
Their Just Dues-Proposed taw Said by Front Street t :
Trade to" Remove Benefits Heretofore Given All Parties.
T. A TE ITEI MARKET
PORTUND HJiS MOST COMPETITION ; '
IN MEAT TRADE AND PRODUCER IS
THEREFORE RECEIVING BEST PUS
HOPS DM CDNTRACr BUT NOT MUCH
By Hymiui H. Cohen.
Hop growers who contract thetr oom
Inr crop at prevailing price need ex
pect no sympathy from the trad gen
erally, although In comparison with pre
vious years, the price offered la a vary
liberal one.
Twenty-fire cents per pound baa been
. freely offered for contract on the 1911
"product at Willamette valley polnta,
this being by, far the highest figure
ever available here for contracts on the
crox so early In the season.
With the world facing Its greatest
shortage of hops, even the decreased
supplies ef 1911 paling In comparison
with what is now expected for 111,
brewers are trying to take time by the
forelock end, thus save themselves, by
purchasing their needs many months
before the vines have even started from
the ground.
throwers Get fcessoas.
During the past season growers had
come Very good lessons on the evils of
contracting their supplies prior to their
growth. Instead of securing the highest
price that has been available for stock,
many Oregon growers actually were
compelled to deliver their growths at a
lower price than they could be pro-
' dueed. While this Is no fault of any
one) except the grower himself, for the
brewer was actually paying all he be
lieved the hops worth at the time the
contract was written. It has been proven
time and time again that the only one
who loses when contracting at low
prices is the producer.
The situation for 1912 is such that it
seems foolhardy at this time to tie up
the crop at any price. There is no sur
plus anywhere and there can be but lit-
i tie Increase in the output within the
confine of a single season.
The world la producing a smaller
amount of hops than has been positive
ly shown to be the actual requirements
of the brewing trade. For that reason
: alone beer makers were urgent buyers ,
Heifer Stolen From Oregon
Brings High Price in Chicago
- The photo of a speyed heifer recently
sold In the Chicago market at $7 per
hundred pounds, the highest price ever
known for that stock, appearing In the
i Breeder's Gazette of Chicago, has un
folded a tale that Indicates the superi
ority of Oregon stock.
. Says the Gazette: "A 4-year-old heif
er averaging 1S10 lbs., reached Chicago
last week that sold at 17, the highest
figure ever paid for a range-bred animal
of the sex. It was a Shorthorn-Hereford
grade and an outlaw, having disappeared
In the Big Horn mountains of Wyoming
at weaning time and never having been
fed a forkful of hay. This year It was
caught In the dragnet western cattle
men are throwing out, and the price
and weight indicate how princely cattle
raisins: would be but for winter losses
and destruction by predatory animals,
in this case an animal which brought
1160.70 at market practically raised and
matured Itself."
-T. jl , Kay Be Trout Oregon.
The picture of the animal attracted
the attention of H. A. Brattaln, a mem
ber of the cattle raialngflm of Brit
tain Bros, of Paisley, Or. He saw dis
tinguishing marks that caused him to
believe even at ' first glance, that the
animal was formerly one of his herd,
having been bought when a calf, after
having been branded, from the "lazy
V herd and with others ef the bunch,
was speyed, the Iron "L" of their own
brand being placed high up on Its left
rump, and turned out on the range.
The marks of Its former owners, con
sisting of a small silt in each ear and
two small dewlaps under Its neck, were
on the animal. Mr. Brattaln could al
most positively swear to the Identity of
Heavy Snowfall Help to
Northwest Wheat Crops
The condition of the wheat crop at
- Pacific northwest points has been fur
ther strengthened by the heavy fall of
snow. Bnow was general at all inter
ior centers during the week and the
plants are now well covered. While the
Weather Is rather cold and the wheat
stands higher above the ground than
usual owing to the very quick growth
early, the protection afforded by the
snow Is ample at this time to keep
the plants warm and aid root growth.
h f Heavy Snowfal in Drain.
x Grande. Of; Jan: 8, Snow is fan-
ANNOUNCEMENT
JX WILSON & CO.
Members 1
Hew Tork Stock Exchange
Sew Tork Cotton Exchange
, Chicago Board of Trade
The Btock and Bond Exchange,
Baa rranclsoo
With offices at
Mills Building. San Francisco
Palace Hotel, San Francisco
- Alexandria Hotel, Los Anreles
U. 8. Grant Hotel, San Diego
- Hotel del Coronado, Coronudo
Beach
Desire to Announce That on
JAN. 15, 1912, THEY
WILL OPEN OFFICES
IN THE! r
Xitunbermens Bid?., Portland
Alaska Bldg., Seattle, Wash.
Canada Life Bldg., Vancouver, B. C.
For the Handling of All Orders for
STOCKS, BONDS,
GRAIN AND COTTON
At the Berolar Hew York and Chi
cago States of Commission
AH these offices will be con-'
nected by private wire with our
present complete private wire
service f romt Ban Francisco and
Los Angeles to New Tork and
Chicago, ., thus affording all our
Clients continuous quotations
from all Eastern markets and the
advantage of direct and Instantan
eous private wire service in the
execution of Orders. ; y.v-r
J. C. VILSON & Co.
' ' Main Of floe, ' ' v
aorus Btniuia. Baa frraaolseo
of anything in the hop line during the
past season.
While a a rule hops that have been
gathered for two years are seldom in
any material demand, the past season
showed the reverse in the buying, gome
growths that were five years old were
sold at far better prices than are usual
ly obtainable for new picking. This
means but one thing that brewers
needed the hops so badly that hey were
quite willing to accept anything pro
viding the price was not too high.
Sales of hops that were several years
old were made during the year around
20o a pound, this being an unusual fig
ure even for new growth.
The best part of the situation I the
fact that most' of the hops grown in
1911 In the Pacific normwest as wen as
in California, were purchased by foreign
Interests. While as a rule the demand
from abroad is limited, this year's
movement was so great that it took
American brewers by storm and left
the latter at the close of the season
without supplies Of consequence.
Biff Acreage to Be Repeated.
The bis: acreage of hops which com
pletely upset market values .through
out the world will be producing hops
within the next two years. Most of the
planting has already been done and
the remainder will be put out In the
spring. But little of this will come
Into bearing until the season or mis.
For that reason there is likely to be
little Increase In the world's output of
hops this season . and, as brewers have
none on hand to tide them over It de
velops therefore that they must pur
chase. All sorts of schemes and reports are
likely to be utilised to force growers
to part with their crops but unless pres
ent Indications are amiss, they 'will re
sult in failure. Hopgrowers seemingly
are quite willing to take a profit now
that lean years are liable to appear.
There have been too many of the non
profitable periods recently for the good
of the Industry.
the animal from its peculiar markings
about the head; but he says the heifer
was six years Instead of four years
old. He showed the -picture to Antone
Erll, who Is very certain of its Identity
having often seen It on the range. Mr.
EgU is well known as an experienced
range man all over eastern Oregon,
Stolen Trom Bangs.
Prom these facts Mr. Brattaln la cer
tain that If a tracer were made of the
manner In which the heifer reached the
Chicago market it would be demonstrat
ed that she was one of many others
that was stolen from the range by some
one of the many busy cattle rustlers
that Infest the range of eastern Ore
gon, and probably driven over to Wyo
ming and thence sent to market
Mr. Brattaln emphasizes the fact that
hundreds of cattle are taken by the
wily rustlers from the range, their
markings changed or brands disfigured,
and driven off to different markets to
be- sold as belonging to the shippers.
He calls attention to the fact that at
the round up this fall twice as many
calves came up as there were beaf cat
tle; and his experience corresponds with
that of cattlemen generally, while there
was no change In the number of cows,
while the skeletons of cattle killed on
the range were very few In number than
from the depredations 'of wild animals
and winter losses from lack of feed,
and It la not to be wondered that ef
fective measures should be talked of
to put an end to this robbery of the
range by the men who make a business
of it. The chance of "discovery and pun
ishment Is very slight, while the price
of stock Is so good that the temptation
is very great.
lng over eastern Oregon today. The to
tal here now is more than six inches,
but the weather Is moderate. At Ka
mela. the Blue mountain summit, the
snow has attained a depth of three feet,
bit trafflo Is not delayed.
Wheat In Good Shape.
Walla Walla, Jan. 6. The end of the
first week in January finds wheat In
better condition than It has been since
planting, and that Is putting It strong
ly, for there has never been a better
winter for fall sown grain. But with
the show and cold weather of the week
Just ended, these prospects are in
crensd even over former weks.
There has been about twice as much
grain sown this fall as In previous
years, and about 80 per cent of the en
tire acreage has been planted, lraving
but about one-Tlfth for spring seeding.
This Insures the grain getting an early
start, as the spring seeding will be
quickly done.
The market has been dull during the
lawt six days, few sales being recorded,
and those which were consummated
were for small amounts and generally
speaking, from smaller holders. The
large crops, with one or two excep
tions, have been held for higher prices
than now obtain, and with futures high
er than last week, the grip will prob
ably tighten.
-Probably BO per cent of the entire
crop of last vear Is still In the ware
houses, unsold. This Is a larger amount
than last year, but as the crop was
much larger, probably more has been
sold In this season, up to this time.
Aurora Hop Sales.
Aurora, Or., Jan. 8. While little bus
iness has been done in this section In
the hop market for the last week, prices
are firm and well above 42 cents. Twenty-five
cents Is offered freely, it Is
said, for 1911 contract bops, but few
growers Have signed up at that prlc.
nly 800 bales were reported sold last
week by dealers to dealers at iQ.
cents, all being low grade lots.
Miehler and Grlbbla recently pur
chased 107 bales of hops from iBishOD
Donald at McMinnville, at 43c, and 10
bales low grades at 20 cents. They also
Surchased 265 bales from Klaber, Wolf
; Netter for shipment east at 41 cent.
KANSAS CITY LIVESTOCK
noes Up a Dime With a Small Ran
." " i . Showing. '
Kansas City, Jan. I. Hogs 1500:
market steady, 10c higher. "",",DUW
Cattle 1000; market steady.
Sheep None; market steady - to
trong.i .-. . . ... .
Journal Want Ads brine results, ,,
REVIEW OF
Expectations for High Prices
irf the Onion Market Dur
ing Late Season.
Present expectations are for material
ly advanced prices in the onion market
during the remainder of the present
season. During the week there was a
sharp jump of 25c per cental in the
price, making the buying value at ooun
try points 11.60 per cental f . o. b. -
The advance In the onion market
comes as a direct result of poor judg
ment on the part of many Oregon grow
ers and a large per cent of the crop
is rettins in oonseouenoe. Aceordlnr to
a prominent onion man the supplies
were placed in tne nouses oexore mey
were thoroughly dried, thereby decreas
ing their keeping qualities.
At the present time there Is bat lit
tle competition for Oregon onions along
the Paclflo coast Speculators In Los
Angeles and at Lompoc Cal., have some
supplies, which they are offering but
outside of these and a small amount at
North Yakima and a limited holding
of Walla Walla stock at Seattle, the
market Is bare.
OATS MARKET STIFFENS
Speculators Are Asking More Money
and Weak Interests Are Sold Out.
Trade In the oats market was on a
slightly Improved basis the past week.
Thq speculators who were so weak in
their views recently that they have
been freely offering No. 1 white at
30 are Bald to have sold out their
over supply. Present holdlncrs are not
obtainable under 180.50 per ton.
There is some increase in the Inter
est regarding feed barley and several
small Tots were taken up by local par
ties during the pant week. Buyers are
offering around $34 a ton based upon
track delivery, Portland. While the
market Is nominally firm for brewing,
the wants of the beer trade continue
supplied. Therefore there Is little de
mand. CHICKEN MARKET ADVANCED
About 2c a Found Added to Price
Along Street Daring the Week.
There was another sharp Series of ad
vances In the chicken market along
Front street during the week. Supplies
were only fair and the better demand
caused prices to rise about 2c a pound
during' the six days.
At the closing of the week the Indi
cations were for a continuance of the
good feeling.
Turkeys dragged considerably during
the week, with rather liberal offerings.
Sales wsrg made generally above 6o a
pound under last week's figures.
DRESSED MEATS ARE HIGHER
Advanced Quotations Ruling General
ly With an Increased Demand.
All lines of dressed meats showed
a firmer tone in the Front street trade
during the past week. There were
higher prices for hoars as a result of
the coldnr weather, which has Increased
the demand materially.
Dressed veal prices are) being
stretched slightly owing to the very
firm conditions.
Mutton was scarce along Front street
during the week and for that reason
prices as quoted are nominal.
BUTTER MARKET ADVANCED
Higher Prices Bring Market Here Up
to Record) Dairy Products Helped.
As a result of the latest advance In
the creamery butter market here during
the past week, the price now is practi
cally at the high record. While this
same value was reached once before.
It was at a later date
Country dairy butter la In firmer re-
?uest as a result of the higher price
or creamery, and 20o a pound is now
being freely offered.
TIMOTHY HAY REMAINS FIRM
Market in Excellent Shape With the
Prices High; Grain Stock Weaker.
There Is a very good tone In the
local market for Itmothy hay. Stocks
of eastern Oregon and Willamette val
ley of fancy quality are in demand,
and are commanding, high prices.
For grain hay the market has not
shown the slightest sign' of a rally.
Offerings from the country continue
to Increase In volume and naturally this
Is not helping the price. While the
outgo of hay during the week was
f reater owing to the colder weather,
he offerings are even more increased.
WEATHER AFFECTS EGO TRADE
Market Moves Higher With Cojd
East Winds; Some Ask Old Value.
Weather conditions affected trad In
the egg market during the past week.
The cold east winds created a better
appetite for the product, while It was
but natural that receipts be decreased.
'Fresh ranch stock again sold as high
as 87 Vie a dosen, although there were
a lew aeaitrs wno wouia not ssic above
5o.
San Francisco Baric Market, ,
.Ean Francisco, Jan
in.. o..
-Barley:
(men. . hi
jjow, , i;icse
101 :201Vi
Ul 147)4 A
May ... 201 - 101
bea. 141 B 147
NORTHWEST
Argentina Is Butlish Factor
and indirectly Influences
Local Wheat
The news from Argentina was the
bullish factor in the wheat trade
throughout the world. While It had a
direct effect upon the market In Europe
Its effect upon the trade of the Paclflo
northwest was Indirect.
With the better feeling for wheat far
goes at London and the higher prioes
generally throughout Europe, It was but
natural that the trade here should ab
sorb at least a degree of the better feel
ing. While the scarcity of ships for wheat
loading Is still proving a serious factor
in the trade here, the outlook is mors
hopeful than It was a few weeks ago.
Club wheat, while nominally quoted In
some quarters at 78c a bushel track
delivery tidewater, is able to command
the basts of 80o whenever presented.
Bids for bluestem range from 82 to 88o
a bushel but the movement of this va
riety is even more restricted than club,
owing to the former having a cargo
demand. Practically all ef the blue
stem remaining In the Paclflo northwest
is held by speculators who are asking
uiur ujuney.
Flour market Is showing a slight im
provement in foreign demand, but the
trade scarcely expects much business
until after financial affairs in the Orient
are more settled. Prices n both patent
and export remain unchanged.
CANNED SALMON IS MOVING
Trade Reopens with Torn of Tear;
One Lot Fancy Chinook Offered.
An improved movement was shown
in the canned salmon trade here during
the latter part of the week. Over the
holidays and stocktaking time, retail
ers and Jobbers allowed their holdings
to be decreased as much as possible.
Now buyers have reentered the mar
ket and prices are being held firm at
opening values. Only one lot of. fancy
Columbia River chlnooks of the 1911
pack Is still available and this was of
fered to the trade by the Booth Fish
eries company during the week.
: Markets of the Week.
Eggs show fluctuations. 4
Cnickens advanced. 4
4 Turkeys are lower. a
W Cheese market firm.
4 Hide trade good.
4 Canned salmon firmer.
4 Wool market favorable.
4 Dressed meats higher.
4 Wheat market better. a
4 Coarse grains firm. 4
4 Butter ranges higher. 4
4 Potatoes are slow. 4)
4 Big boost in onions. m
w
WOOL MARKET BRIGHTER
4,000,000 Pounds Sold at Boston
During Past Week.
Boston, Mass., Jan. 6. New year's
wool business has opened on a fairly
satisfactory basis. The Boston wool
market has a much better outlook than
a year ago. Transfers this week ag
gregate nearly 4,000,000 pounds with ap
proximately 1,500,000 pounds of terri
tory wools which included mostly med
ium clips. The price Is quoted at 21
to 21 Vi c.entu fop the finest staple, 22 Ho
for half blood, 22H to 23o for three
eighths and 16 to IS cents for fine and
fins medium.
CHEESE MARKET IS GOOD
Movement Decreased With Higher
Price, but Stocks Are Short.
While as the price climbs the cheese
market loses some of its activity, trado
was rather good during the week, all
conditions considered. There Is still a
great scarcity of local offerings not
withstanding the decreased demand.
Eastern cheese Is not taking the plsoe
of the local product because the trade
hers is not accustomed to It and pre
fers the Tillamook or Coos Bay make,
even at a higher price.
HIDE MARKET IS FAVORABLE
Proposed Advance in Price of Shoes
, Shows That Stocks Are Light.
Notwithstanding the talk Of a de
creased call for hides and the expec
tations of a lower market, conditions
during the present week are very sim
ilar to. those that ruled during the pre
ceding six days. The recent declaration
of leading shoe manufacturers that- they
would advance the price of their prod
uct at least 6O0 a pair, signifies fa It
self that hides are not cheap and are
unlikely to be so, c
LARD MARKET WEAKENING
Accumulating Supplies Caused Some
to Shade Quotations Slightly.
Weakening "values are showing in the
local lard trade and prices are being
generally shaded, Btocks .. are showing
an accumulation and the lower prlcos
are being named in an effort to clean
up more nrompUjr " ,
PRODUCTS
Potato Movement During Past
Week Is Confined to Or
ders From Southwest.
There Is only a nominal movement
of potatoes from Oregon at this time.
Practically the bulk of the shipments
are being sent forward to Arizona on
back orders. The few small lots that
have moved to California during the
week were a mere drop In the bucket
and can scarcely be considered.
No new business In the potato trade
was available for .outside shipment dur
ing the past week. The southwest seems
to have secured its Immediate wants of
table stock and therefore Is merely ac
cepting the stock purchased some weeks
ago for deferred delivery.
Seed potatoes remain In demand with
American Wonders generally quoted at
$1.60 per cental Oregon country points.
However, only a nominal movement of
these Is shown owing to the smallness
of holdings. ,
APPLE MARKET IS MAINTAINED
Trade on Good Basis With Extra
Fancy Stock SUll Rather Scarce.
While no additional strength Is noted
In the local .apple trade for the week,
the market remains in very good shap.
Extra fancy stuff remains scarce and
sales are still being made In a limited
way ud to S3 a box. Stock that saIIs
around 11.25 1.50 per box remains the
ravonie seuer.
PORTLAND JOBBING PRICES
drain, yiour and Say.
These prices are those at which whole
salers sell to retailers, except as other
wise stated:
WHEAT Producers' . Drice nominal!
track delivery, club, 80c; bluestem, 83c;
fortyfold, 80 81c; Willamette valley,
sic; rea nussian, c; xuraey red 82.
BARLEY Prod'tcers - rtces 1 1 1
Feed, $35.00; rolled, $38.00; brewing.
$39.00 40.00.
oTS Producers' Dries Track T 1
spot delivery, white, $30.80; gray $30.'
MiLLSTiirB--neiiing price Bran,
$24.50: middlings. I3L00: snorts, its sa
chet), $19 000 26.00.
HA I proaucers- -price 1111 crop
Valley timothy, fancy, $161; ordinary,
$1314; eastern Oregon, $16.60017:
Idaho, $17: mixed, $12015: clover, $10
11; wheat, $11; cheat. $11; alfalfa,
$1 Sff18; oats. $11.
FLOTJTt Bell Ins1 Dries Patents
$4 60; Willamette, $4.60 per barrel; local
straight $4.060 4 25: bakers', $4.I0ft
t.ou, export grades, ib.oo.
Butter, Eggs aaa Voaltry.
BUTTER Extra creamery, cubes amd
tubs, 880: prints. 89c: ordinary prints,
36 37c; dairy, 1818Hc
BUTTER FAT rroaueera nrlca
o. b. Portland, per pound, 880.
.tK3S3 iocai, extras, 34 36c; spot,
buying price, 3132c f. 0. b. Portland;
Aprils, 2 Bo.
poultry Fancy hens. 16o lb.;
springs, 1616Hc; fryers, 18c; geese,
12l4c; dressed. 14 He; live young
ducks, 17c; old ducks, 18c; turkevs,
alive, nominal, 19c; dressed, J 2c;
pigeons, old, 81; young, I2O2.40.
GAME Jack rabbits. il.OOOl.lK
per
aozen.
CHKESE Fresh Oreson fenev. full
cream, triplets and daisies, 17Ho per
lb.; Toung Americas, 18 Vic; storage
flats, 17e; Toung Americas. 18c.
Hops, 'wool and Hides.
HOPS Producers' cries 1911 crop,
choice, 48 He; prime, 42 He; medium,
4142c: 1909 arowth. 206": 1912 con
tracts, 22Vi25c; 1913 and 1914, 17c lb.
WOOL Producers' price Nominal,
1911: Willamette veti-v. UUOllHe:
eastern Oregon, 9 (1 180,
Miihaik 1911. selected, xQ!7a.
CH1TTIM BARK Producer nrlce
1911. less carlots, t06oi carlots. fVko,
I. n. b. Portland.
hides Dry hides, 19e; green, to
10c; salted hides. ,10 Olid bulls, green
salt. 8c: kins, lie: calves, drv. 20o:
calf skins, salted or green, 17c; green
hides lOlUo less than salted; sheep
neits. saitea, November, too; December
II: drv. lOVie lb.
TALLOW Prima ner lb 4c: No. t.
and grease. 2(9 2 Vic.
rralts ana Tsgetsblssv
APPLE8 New crop, fl.0008.00.
POTATOES Selling prices: Ordinary
Oreaon 81.1601.26: poor. 11: buvlns
price, 9 Be $1.3 6; sweets. 8Vi2o.
omuisa iciiow, n.iaia i.ao; game,
78c. .
VEGETABLE New turnips, tin 1.21
sack; beets, 11.50: carrots. fl.26Ql.k0;
caorjage, tfuy l.uu; . uaiuornia toma
toes. 21.76 crate: beans. 12c; areen
onions, I6o dozen: peppers, bell, 10o lb.;
head lettuce. 2. 60(2)2. 76 crate: hothouse
1i box; radishes, 16a dosen bunches;
celery, sd.vu crate; erg pmni, ivo io;
cucumbers, hothouse. 11.40 dosen; peas.
9c: cauliflower, - local, logffi aosen;
California, 12 per crate.
FRESH FRUITS Oranses. I2.260 2.75
tangerines, $2.6002.76: bananas, 6c lb.;
i J t a e ft A . liM.. a - n - .
grapefruit $ 47: pineapples, 6a per Ib.s
cranberries, til 12; peaches, 76e;
fears, il.ouj grapes, i; jap oranges,
1.26, ' '
Meats, risn ana rrovisions.
1 DREBHED MEATS Front street!
Hogs, fanoy, 9Vi10o per lb.; ordinary,
c; f neavy, ' ' i ; veais, v extra,
14c; ordinary, 18 Vic; poor, 12o: spring
lambs, 9c; mutton, 7o; goats, 4c; beef,
6 9c, f ' ' 1 1
compound, tierces, 8V40 per lb.
, HAMS. BACON. Etc Hams. 14U
lscc breakfast bacon. 13ttH24a: boiled
ham, 23324c; . picnics," 11c; cot tare,
laVfec; - regular snort clears, iihokm,
13 Via; Unoks, v smoked, 14c; 'pickled
tongues, jo in- '. i
PORTLAND LIVESTOCK RUN,
Hogs. Cattle. Calves. Sheep.
Jan. S....1299 1705 13' 3847
Deo. SO ... 488 106$ 46 612
Deo. 23 ...2752 867 29 8044
Eec. 16 . . .8698 1418 28 1108
ec. 9 ....1812 461 86 2166
Dec I ....1842 986 109 981
By Hyman H. Cohen. ,
Portland Is n1ovlnar mora comnetltlon
In the dressed meat fine than any live
stock market In the country. There are
factors at work in the dressed meat
trade which make It nigh Impossible
for either the consumer or the producer
to get "stung." But once remove this
competition and conditions may change.
Portland may be termed a consumer of
calves, for outside of the regular beef
trade the bulk of th business Is In
veal. Just why this preference in made
here none are able to say. The con
dition is a peculiar one and is confined
almost exclusively to this section.
Portland receives on an average about
900 calves each week. As a rule about
95 per sent of these come direct from
the country to the dressed meat trade
and do not enter the stockyards at all.
For Instance, while the run of veal
calves to Front street during the week
was almost 900 head, only 12 were re
ceived in the stockyards, four head be
ing received there Tuesday, six head
Wednesday and two head Thursday.
These were the total supplies available
for the livestock trade in the calf line
during the past six days, an average f
two a aay.
Try to Torn Shipments.
For years leadine- meat killers of
this city have been trvlnar to turn the
ttde of calf receipts from the Front
street trade and Into the stockyards.
The plan has not proved a success for
the very good reason that butchers pre
fer to purchase their supplies from first
hands, thereby paying but single profit.
Therefore the dressed veal trade has
remained all these years In the firm
grasp of Front street. All efforts to
dislodge this hold have proved a dismal
failure although many schemes have
been tried durlnr the last 19 years.
Portland has but two plants at this
time that' have government Inspectors.
It has four other well known plants
which have during; recent years shewn
a material increase In business. Besides
these it has Its veal supplies, the bulk
of whloh come direct from the country.
They are freshly killed and enter the
trace -wunw a asy or me time or
slaughter. While Portland Is a heavy
consumer of beef and hogs the demand
for veal is generally such that high
prices rule. The demand for veal has
Very Heavy Financing
Is Shown During 1911
By Preston C. Adams.
(Publishers' Press Leased Wire.)
New York, Jan. 6. Wall street has re
covered from the holidays and Is getting
ready for the business of 1912. The gen
eral anticipation Is that this year's busi
ness on the stock exchange Is going to
be satisfactory. It is not thought that
any records either in the way of prices
or volume of business are likely to be
broken.
With a presidential election on hand
and a congress bent on reforming the
tariff and probably "perfecting" the
anti-trust law in session this Is not to
be expected. But In spite of these draw
backs Wall street has become convinced
that the fundamental business condi
tions are so sound that It la safe to
trade.
If the total listings of new securities,
bonds and stocks on the New Tork stock
exchange during the" past vear ahould
be considered a criterion of the business
done on the board, 1911 shows up as
the poorest 12 months for the exchange
since 1904. It may be said, however,
that such a standard of comparison Is
not necessarily acourate. The fact
stands, nevertheless, that fewer new
commodities for stock exchange dealings
were placed at command of members
than fn any year of the past seven
years.
On the other hand, 1911 has been a
period of tremendous general financing
or preparations for flnanolng. The
?:reatest bond issue ever authorized In
his country was made, that of the
areat Northern Railway company of
1600,000,000 bonds. Since last January
also about $1,800,000,000 fresh securities
of all sorts have been sold. Up to and
including November a .total of $1,630,
012,400 new stocks-,nds and notes
were distributed, an Increase over the
whole of 1910 of $111,729,800.
New listings on the ''big board," in
round numbers amounted to $967,000,000,
divided as follows: Bonds, $496,000,000;
stocks, $462,000,000.- Last year the total
was 22.047.664.046. of which bonds con
tributed $808,162,600 and stocks $1,239.
646. - The record has to go back to 1907
to find so small a par valus of bonds
listed as this year. In that year the to
tal was $420,818 000. So few stocks
have not been placed on the exchange
since 1904, when $176,868,800 were
passed on favorably by the committee.
Among .the notable listings of the
vear were the following. American Tel
ephone & Telegraph oompany, $66,086,600
common biock; unicaru, juuwaunce
St. Paul Railway company, $25,000,003 4
per cent gold bonds; Chicago A North
western, . $30,271,000 I Vi Per cent, and
$22,600 4 per . cent general mortgage
bonds: Chicago, Rock Island & Pacific,
$89,618,000 first and refunding 4s; Great
Northern Railway company, $80,109,000
first and refunding 4V4 per cent bonds;
Pennsylvania Railroad company, $41,
263,460 comm6n stock, and New York,
Na Haven Hartford Railway com
pany, $61,628,600 common stock.
Other large listings were Westing-
house Electric ia juanuiaciunng oom
pany, $86,738,900 common stock; Inter-borough-Metropolitan
company, $27,
898,200 preferred stock (voting trust
certificates) ; Baldwin Locomotive
Works. $11,000,000 first mortgage 6s
and $20,000,000 7 per cent preferred
stock; International Harvester com
pany, $20,000,000 common stock (trust
certificates): Illinois Central Railroad
company, $20,000,000 refunding 4s:
Reading company, $20,000,000 general
mortgage 4s; Texas company, 210,768,
000 convertible debenture 6a, and South
ern Paolfle, $19,000,000 first mortgage
4 per oent bonds.
On
this- veer's addition to the security
list, $296,000,000 bonds were of new
flotations, and 1200.000,000 were addi
tions to issues already on the exchange.
The previous stock list was expended
by $262,000,000 fresh issues and 1210..
000.000 extensions of 'former series.
Railroads and traotlon companies, .it Is
estimated, contributed over two thirds
of the .entire, supply. ' ,
Just what the heavy figures of out-
itnor at auras naasensers. , and tha
Ight figures of Incoming ones, for the
year now closing, signify, may be dif
ncuit to )uare; oui me puoucauon or
the figures may weir serve to draw
attention to the fact that the tide of
immigration, with which, we are om fl
umes represented ss being submerged
in these latter years, has been by no
means as formidable for a number of
become so great durin recent years
that even the packers who have govern
ment , Inspection ' maintain separate -places'
where they receive country killed
veal, so that the nominal receipts In the
livestock market can be supplemented.
This condition has been forced by the
competition of Front street dealers.
What Meat Inspection Means.
Inspection of meats by the city of
Portland, as at present, planned, means.
In the opinion of Front street, that all
competition In the meat trade will be
entirely eliminated. While leading han
dlers of dressed meats along Frot
street have been a unit In declaring
for proper inspection for the-protection
'Of the publics' health as well as
their own Interests, various efforts
have been made to make the law so
stringent that Front street can no
longer exist as a dressed meat -center.
The Front street meat trade has al
ways acted as a "buffer" between the
country producer, the meat packer and
the consumer. As a rule country- peo
ple have found It much more profit
able to ship their calves dressed to
Front street than to ship them alive
to packing plants. At the same time
retail butchers have found It more pro
fitable to purchase supplies on the
street than bv going to the packers.
Therefore, while enabling the consumer
to purchase his meats for leas money.
Front street has nevertheless paid the
produeer more money fop his stock.
Law Would Injurs Industry.'
' The passaRe of a law that would pro
hibit the selling of dressed meats along
Front street would ba a detriment. to
the livestock industry, Insofar as It '
eliminates the' competition that has
forced killers to pay the producer what
his stock was worth. Proper inspection
of dressed meats, however. - would be
an aid to the Industry, because It
would entirely eliminate from the com
petitive market all stock that is nat
urally sold at a low price owing to its
unfitness for the trade.
It is not only In the veal trade that
Front street secures the bulk of the
shipments from the home territory, for
the average weekly receipts of dressed
hogs there reach a total of nearly 2000
bead.
LIVESTOCK MARKET HIGFtEK
AH Linos Here Show -an Advanced
Price for the Past Six Days,
All through tho livestock market the
past week there was a better feeling.
In the hog division there was an d-
(Continued on following page.)
years bsck as most people Imagine.
During the year 1907-10 the net immi
gration excess of arrivals over de
partures will be less than 800.000; and
the average for the four preceding
years, 1907-10, was about 626,000. This
la very different from the million that
Is usually spoken of; and, while the
showing for these years is undoubtedly
In large measure to be ascribed to tho
check which American' enterprise re
ceived through the panto of 1907, It
should, on the other hand, be remem
bered that at the height of the boom
before that panic namely, In the cal
endar year 1906 the net Immigration
did not exceed a million, the exact fig
ure given by the returns being 996.084.
Half a million the average for the past
five years It should be remembered,
too, is only half of one per cent of the
present population of the country.
Ever since the Baldwin Locomotive
Works was founded In 1881 the com-
r'any has paid Its employes In gold. In
ts early days, when Its employes num
bered only a few. hundred, and gold
pieces were In circulation. It was not
a difficult matter. Nor was It unusual.
In fact, many of the large business
concerns paid in gold. '
The Baldwin Locomotive Works to
day has more employes than any single
manufacturing concern in th world,
the Krupp Gun Works. In Germany,
alone excepted.
It has had as many as 19,260 men on
Its weekly payroll, but even with Its
present force of 14,000 employes. It re
auires a regular fore of 18 man and
86 extra helpers to put up ths weekly
psvroll and distribute the money.
The weekly payroll ranges between
1280,000 and 1260,000, the bulk of whloh
is In $20, $10 and $6 gold pieces. Never
la paper money used.
Even during the Civil war, when gold
was scarce, the company paid Its em
ployes in "tisrd" money, and during;
the recent panic of 1907 it paid a hand
some premium to get gold to continue
its time honored custom.
According to a prominent financial
authority 990.889 people own atook In
the 234 leading corporations of the .
United States at the present time. This
Is an increase during the year of 64,
696. The increase In the toal capitali
sation . of these companies during the
year Is $169165.178. The number of
stockholders lri the railroad companies
is 889,671, an Increase of 29,275, or
Per-Len5 liA116 th Increase In capital
Is $97,664,274, or about 2 per cent. The
average holdings in the railroad com-"
pnnles Is 139 Vi shares, a decrease of
about shares, The number of stoek
holders In the Industrial corporations
Is 590.828, an increase of 85.221, or 6
per cent, while the Increase in the In
dustrial capital la $61.K10,904, or slight,
ly over 1 per cent. The average hold
ings of the Industrial" stockholders is
89 8-8 shares, sn increase of about 5
shares. The average number of stock
holder's In each railroad corporation Is
4814, against 89R9 in 1910. and the av
erage number of stockholders In esoh
Ll'Ju'.trln.,,1ornoratlon u 13 against
3855 In 1910. .
Overbeckc&
Cooke Co.
BROKERS
. Stocks,; Bonds ; :
- Cotton, Grain, Etc." .
:::V:;;r;:-; 21(M17":vS":.?:v
Boar3 of Trade BuilrJing
Members Chicago Board of Trade,
Sorrespondents of Logan 0k Bryan,
h lea go. New York, Members New
York ' Btock Exohange, Boston
Btock Exchange, Chicago Board of
Trade, New York . Coffee' . Ex-.,
change, New York' Cotton Ex
change, New Orleans Cotton Ex
change, Winnipeg Grain Exchange