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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (May 25, 1913)
THE OREGON SUNDAY JOURNAL, PORTLAND, SUNDAY MORNING, MAY 5, 1013. G OUTLOOK IS FAVORABLE FOR ALL FRUIT PRICES THIS SEASON LOWER PRICE IS WELCOMEJ S Stock Market Shows Marked Pessimism Is Still Strongest in North Portland Market Weak-, er and Lower for the Six Days Australian Beef - May Affect Cattle Prices. Special Advertising Campaign ; , to Be Inaugurated Will Be p Big Aid; North Pacific Is Resistance to Bearish Oper ations; Decreased Rail Traf fic Believed Temporary.' New York and Other East .ern Points; General .trade Remains Quiet ' Needed in Trade. : WEfflil FII1CE IIIGESinilll; EAST IS GLOOMY Mil KE III! MEASE IN RUN ILVER LINING IS II IN CLOUDS OF APPLE MARKET - l RESISTED IN U DUNG IDE WEEK - ' 'i Hy Hyman II. Cohen. m, Distinctive brands for apples grown In ; ! Paciflo northwest will likely prove "a very big factor In tlie marketing of Ut. product the coming season. '-. Most ,.ot the shipping organisations have ' seemingly coma to the conclusion at "the same time that a better demand for i '..ni'P'es can he created by proper adver . tlcing and the establishing of brands. " Pacific northwest apples will not be gradejjs in former year with their . numerous titles none of which meant anything. The extra fancy of one dls- . strict would not be better than a fancy . of other sections and all the way through the list a similar. condition was ...showing. This year the apples will he .branded No. 1 to No. J Inclusive. While this la the best plan thus far oeviseri ' for tlm markln of the annla croD. still It would likely be better If Instead of .numbers, the grades would be designated .hv tAttapi kn.V, mm A Tl mnA P. There lis a natural prejudice among .tne buying punuo ror anytning mat is graded under No. 1, therefore stock that comes under No. 2 and No. 3 res pec- , tlvely, will b somewhat handicapped in its sale. By grading the apples with .letter designations, thia handicap would - b removed and still the fruit would be labeled at its proper rating. ,. Blf Organisations Heeded. It la unfortunate that at this time In dications are that the north Pacific dis tributors will not do business thia sea son. The failure of the promoters to secure the Wenatchee tonnage is at tributed as the demoralizing feature and 1t is not at all sure that Hood River would care to place Its fruit with the , new-co-operative concern. That the North Paciflo Distributors ' Is needed to heln solve the problem of '.marketing Paciflo northwest fruit Is the conclusion that has been reached by . the trade generally, even by Its com petitora. None lesa than the North ' western Fruit 'Exchange has gone on record as deploring the fact that the North Paciflo Distributors will prob - ably not do business this season. The tonnage already secured by the . , North Pacific la fully sufficient to en able It to try out Its plans of market ing, therefore there Is 'a general call ' "-among the trade for Its offlclala to re consider their reported utterances of re ; f using-' to go on with the organisation. Spokane Heeds Distributors. The Spokane district needs the North : Pacific organization for the marketing ' of Its fruit. At the present time that entire .section is without a marketing a cent It is understood that the North- western has practically decided to close . t up its rontracta for the season, there , fore, will not be In a position to take 'care of other districts, not already af filiated. - This will be a severe blow to the smaller districts and especially to , the- Spokane section. t - Two strong org-anlzatlona could do the work of marketing the apple crop of the ' Paciflo Northwest better than-one. This ! is admitted by all Interests. No one or ganization can satisfy all, no 'matter how efficient Its service. Interests are too conflicting and sooner or later an other organization will be In the field. The opportune moment la now. All 'the agitation has been gone over and ' the various districts have nicked out ' which organisation they prefer to do : ; business with. There win likely be rav ; erahle prices for apples the coming sea ' son, therefore, there Is no better time - than the present for the new organlza ; tion to try out. It Is nonsense to say . that a greater tonnage is needed than at present secured because other market- ' mg concerns nave started wun less man ; ghe North Paciflo has already secured. t . PORTLAND JOBBING PRICES r ..... . These prices are Aoae it whlca wholesalers sell to retailers, eieept otherwise stated: BUTTER Nominal. City creamery, nbai and roba, tie; print. 298290) sute eraamerr '" ISc H-5 Mrr 2021e. : EGliS Nominal. Candled local extras, 20(9 , tic; caae count. lHc: apot buying prjea. loa " off. ISO f. o. b. Portland. ' UVB POL'LTRT Hens, IBcj broilers JJ.SQ25C lb.; stags. He; geese, 12. p. ducks 1820e: Jndlaa. Runners, lgcj Wkajil -, dreseed, 2325c pigeons, old, 1: youn "CHEESE Hotnlnal. Freeh Oregon finer tn cream twins and triplets, 19c; daisies, Iflu." Vmnr America ITe. ""c' BUTTEt fAT I Proancerr price for Portu.j IssUterrper lb.. 2 i '4e. . - ..Hope Wad asd Hides. r HOPS Producers' price. 1812, 14Q18C ao. 'eordlng te quality; 1918 eontracte. lie" WOOD Nominal. 1913 clip. Willamette ral y;, toarse, Cotawold. 16c lb. : medium Shron r.hW lie; Vholca . JJoHnse lb., eaatS ..CHITT1M OB CA8CAKA BANK 181 tiy Benjamin B. IJryan. New York, May 24. The stock market this week has displayed marked resist ance, to operatlona for lower prices and Us action would further Indicate that soiling pressure and liquidations have, at least for the present, terminated. While reports In general In trade cen ters reflect a diminishing volume of bun In en a, merchants and prominent rail way and financial men point to the probability ot that being temporary, They cite our - excellent crop outlook and tremendous natural resources as sufficient cause for optimism. Their utterances coupled with a more cheer ful sentiment generally have made for a slightly better price average the past few days. Hesitancy and doubt are still noticeable, however, in many quarters, yet the trade prefers to anticipate a further improvement In aecurlty prices. The dividend paying stocks at current prices are attractive, an average yield of many of the substantial properties being over 6 per cent. With underlying conditions sound, this level of price will not long obtain and it Is not un reasonable to expect a reduction In the aioreaaia yieia witnin me next lew weeks. UEaCKIPflON fOpnlirhUw loU. 6c: leae than car lota, 414c. HIDttB wj HUM" . JUIC ID. 1918. car green, lie; salted bides lzc: Duue. green aalt. Be; Md-" - nHee; eal-. dry, 24&e; call aklnV. u' tej or green, jowure: ikh oiaea. je laaa than aaltld; eneep pelts, salted. 88(811.10; dry. ;.WUOHAIfr-191 Nominal S288e. it; - rraits and Vecetablee. FRESH RUIT8 New navel onnrea ' ! ie6.O0; bananaa. 4tt4Xc lb.j lemona. jTo I JjSTutnei t IPf '"'it, Callforaif S.00SJ; Florida. 8.008.60; plneapDlea, 6 lb.: Pr ( fcw ?e',U5.,",e, Ihc&aZ. BEB-BIKS-Btrewberrlea. CaUfornla Jei J 1JM per 15 lb. crate; Dollara, W. Oreaon, I 13.60 per 24 lb. crnte; gooaeberrlea, 6c lb? I ' APPLES -Eating apples. T5C1.2Sj xooklog VEGETABLES Tnrnlpa, T5ci beeU TUc; sew ' earrots &5e doaea bnncbea; paranlpa, 70o sack twobage, 2.75(8; Florida tomatoe;, tox, & I lleslcaa ' luge !" oslons 12QZl . ceaea boncbeaj peppero. bell, 20e2ic; he7d le rMee, 2.25 crate; celera, $1 dosen.. 4.60 per rate; egg plant. 25c lb.; canllflo-T ;"hoka. 75e doaen; aprouta, 10c lb.; a-par.ui il.OO&lS doeea buncbea; Walla Walla t as box, apinacb, local. 3c lb.; peaa, 6HiB7c ' POTATOES lllng price: Katr, choice, so,,. eboleo, 0e; ordinary, 80c per aark h0i5. t prtcT emrtoads. 26e country polnta,' awaeL" BM,e Per lu-t near potatoes, 8tf3Wo lb , oSlON-90c. AaK4atlon aelli?. l570e per cental f. o. b. aelltng point; lAh. ; bring priw, 1.25; new reds. 2; gfic. 'rffij ' bc new vniona, l.asei.7C. 7a" . . Meats. Flab and Proelalons, ' DRESSKK MEATS Country killed: Hon fancy. UflllWc; ordinary, lie; rough and " henry, 8c; fancy veala, 12H?tlSc; ordinary ji wUVic; poor , otel0c: lambii. 10c; mutton. Uc; go, beef. 84tltc. ' HAMS, BACON, ETC. Hama, 1932114-. breekfaet bacon, 17!4Q28H; boUeu bam, 28 So' 'picnlce, 12c; wttage, 18He. ' I UKAT& facklns bouae flieera, No. 1 atock , i lSei4c; eowa, No. I stock, 18c; cwea. 12a 12Hc; wethera. 13ai8V4c; yaarUng Uaiba. 13S t,14c; pork Mna, 20c. LAHD Tiercea 18e; compound tiercea. 10c OiBlKKo-Sboalwater bay, per gallon ( ', per 100 lb. sack ( It Olympia. per galloi! la 25; per 100 to. sack. ; canned, oi.tan Ue eae; fS.60 dotes; eastern, la anal!, ti.T&a 2 ner 100: raaor clama, $2a2.J doc. w . ri8H Nominal Itock cod. lue lb. I dresaed J nousdera, Tc; ballbut, eaSc, atrtped baaa . COct eatflab, 12c; cblnook aalmoa 12c: ateel ' keada 7c lb.i solea. To lb. 1 ahrlmpa, 12c . - avrcS, ,e lb.i tomcod 8c lb.i looatora. 20c lb - black baaa, 2Gp; allrer amelt. 8c; abad, 8c black ood. tc; iturgeon, 12(2 13a lb. . Oreoarlae. - SCO A B Cube, 146; powdered. S.40; frnlt or berry -; beet, 4.5; dry granuutod. 45.15; U yellow, .. t A dots qoeuttons ar : ? ""J... . . - V4ci New Orleans, neaa. eo?c; LTeola. IVn. IIUHII iwr, ea.10 per caeo. AUri New Orleans, HALT Coaree, half grounds lOOe, $10 per . a M; sU, 12 ; erra (I no barrela. 2a, 6a . an4 H. 5 24,oot lump rock. 820.30' per too. t HE1K8 SUboH wblte. '4c; JarM wblte, oc; Wnk, 4i; barou,-,44c; llmaa, e"4c; reda, 6c. folate, Coal OUt-Ste. TjyEED OIL Raw tibia., 6keer gal.! ket-V- awlie, Obia. Xle gai., raw caaes, boUod - ' - - Amal. Copper 00.. American van, e do nfd 1 . Anierirao Loco., e Americas Barer, e American Pmelt, c Am. Tel. ft Tel Anaconda Mining Co.... Atchison, e Baltimore ft Ohio Beet Bucar Brooklyn Rapid Transit. Canadian Pacific, c... Cbl. fc Great Weatern. c. do via Cbl,, Mllkaukee St P. Cblno Copper Cbeaapeake ft Ohio Colo. Southern, e... Consolidated Gas... Delaware ft Hudson Erie, e Kris, second pfd ., Erie, first pfd General Electric .. Great North., ore lands. Great Northern, pfd.... Illinois Central Inter Met, e... Inter. Met, pfd Lehigh Valley . IoulsTllle ft NaahTllle . . Mo. Pacific Nsrada Consolidated ... New York Central N. T., Ontario West.. Northern- Pacific, e Penn. Hallway Preaaed Steel Car, e.... Bay Ooos. Copper Beading, e Republic Iron ft Steel, c. ao pre Bock Island, e do nfd St. U A B. V., 2d pfd.. ao 1st pra Southern Pacific, c Houthern B'y., e Teias ft Paciflo Unl-M Pacific e do pfd United States Bubber... do pfd C. S. Steel Co., e.. ao pra Utah Copper Virginia Chemical .. Wabash, pfd Weatern llnlon Tel. Westlngbouse Electric 5H 62 M, T3f 74W a Total Balea 223.900 ahareS. Reviews of Portland Market for the Last Week LOCAL STRAWBERRY GRAIN PIES iE WOOL MILL MEN IN SEASON ADVANCING RULING MOREFIRM A BEARISH POSITION 62H WHEAT MARKET GETS BUST WITH ADVANCE IN OPTIONS Chicago Eu Big Doll Trade and There I a Sharp Upward Move, merit of Value j Damage News Is Quite Insistent. Shipments Increasing and the Flush of the Crop Will Be Reached in Two Weeks. Chicago, May 14. Wheat There was the blsr bull market of the week in the local wheat trade today. There was an advance of lc In July and 140 in September frjm the. bottom figures of the morning and the closa was about the top At Minneapolis the July was UP lHs. Southwest markets were sharply ad vanced aa they were In closer touch with the sections furnishing the crop damage news for the day. Some little selling pressure, ott tha part of the local trade was -noted at ilia opening, In fluenced by the easier Liverpool and the bearish feeling carried over from the close. Scaroely were tha first quotations re corded When It was dlacovred that big active houses In the trade were well sup plied with buying orders. Lasalle Street leaders were taking wheat in large quantltlea. There was, nothing for the stubborn short Interests In the local trade which held out of the previous strong swell In prices to do but cover oik the advancing market.' As the ses sion advanced advices from the south west bees me more bullish. The dam age complaints covered not only south-wt-Ht Kansas on previous days but spread to other nortlona nf fht it.u came from soma Sections of Missouri and Oklahoma and the general tone of me news was alarming enough to de velop an excited bull market Range ef Chicago prlcea furnished br Over, beok it Cpoke Co., 218-217 Board of Trade wheat.; Oregon strawberries will come for ward In more liberal supply to the local market during tha coming week. according to information co the earlier aectlons. - While the volume of shipments to the Front street trade during tha week was somewhat greater than during tha pre ceding six days, tha total orrerlng was limited. Most of tha fruit handled waa from California. Tha strawberry market was In excel lent condition all through the week and even though the season was more ad vanced, total offerings were not as lib eral as during the preceding six days. This gave tha market a very strong tone, with the result that prices ruled somewhat higher for a majority of the shipments than last week. , With excellent weather conditions dur ing th next two weeks, the local berry seaaon should soon be at Its height. The fact that the California crop Is about exhausted will give to growera of the Pacific Northwest a better mar ket than usual and will probably result In the obtaining of excellent prices, al though they will not likely rule aa high as during tha week just ended. BOSTON 10 LIS QUIET Market Irregular With LltUe Stocks Offering at Prevailing Figures Keep Purchases Quiet. Month Open. High. Lew. dose. War ......... PO 92 SOU el Julr 0 91U 60 i l!Pt. S9H 90U 9 SOU" Dec. ....,... 9l4s 9254 8l MWA ..... CORN. ' Ms BTJt M v- 67 88 Juhr 67 BT 11 k 67 68fc 67!, 68 u B Iec. .....,. 68 . (4 6 Mi ITS. May 4114 slH 40U 40V4 B Jalj ......... Hi 8iS W8 MS lt. B7 S4 gTf 87k A PORK. May .........3000 20r lew 1919 A July 1962. 1990 1940 191 Sept 1966 IOCS 194T 1930 A LARD. 1110 1110 Hid 1110 A Hon ijiji m J . 10 HIS 1107 1110 A BIBS. ...... .;ia law i 1200 b 1182 1132 I1M 1181 1 Mar iulr Bepl. Msr Juljr Smth. eaaea. 86 asl.l lots ef 260 aallaaa 1. t. 11 cake sseaL 144 per torn. ' fftos nirioa.tr 4"f vrwiiTrst lota. a Mr lb.; lew lou. tse umr Ik. V1L MfcAUCstkiaa lata, tU. TUHFItMlM la tea . 3rt wii i-.. joei ma hacrels e par galaas; M case lata. Jo ureal Want Adg brief reaolta. Boston, Mass., May 24. Wool buying In Boston Is very Irregular. The lead ing feature of the past week has been the opening and' sale of soma new clip territory wools. - These wools are sell ing very slowly, the present condition being almost a complete reversal of that prevailing a year ago. . No further sac rifice sales of old wools are reported. Few leading houses have any Volume of wool to offer. Buyers also have changed their attitude a little. The en deavor to market the new clip wools, however, so difficult as to prevent frae buying in the west at the level of prices recently quoted. Considerable reticence is observed as to ponltive transactions In . new wool, but It appears that moderate lots of Arizona and Uta'h have been turned over to the clean basis of 45c to 48c. In some caaea," sellers claim that they barely got out whole; in others a moderate profit was realized. good afpTTreturns If orth western Fruit Exchange nan die Big Crop of Dayton Ranch j Germany Send Check. - TJayton, Wash., May 24. A a an Illus tration of the farreachlnr beneficial ef fects of the fruit raising industry in the Touchet valley may be cited tha fact that yesterday A. 8. Rverson, who owns and operates one of thfi.Jflafi!l appliT-o'OTaiai three .miles south of Dayton, received a check for a little more than 11700 from, a. jrult tUfn 1st Uarroany-ae eay ment for apples ent from tbe Kyerson ranch 0rEhaf4-laet--fHj-TM-1rger-C!m ilgnment waa handled through the Northwestern Fruit Exchange . ot Port land. . The price reprmtxnt 80c a box oa board the cars In thl city, Tha ap ples sent were of ordinary class and of different varlatlta. ' Business Not Brisk Owing to Inability of Bidders to Se cure Supplies Here. By Hyman H. Cohen. Firmer prices with a further advance In quotations over last? week's high fig- a were shown In the wheat trade at all Paciflo Northwest points during the week. There was only, a limited amount of trade In the market during the six days. tnis Deing aue entirely to the fact that the excited bida of local buyers havo not been sufficiently high to force ad ditional Belli ng in tne country. With stocks of wheat exceedingly light at all Pacific Northwest points, and only a very limited portion of this being of No. 1 quality, there was little for the market to do during the week. Ex porting Interests and buyers for Cali fornia account were the principal fac tors in the trade. As a rule even the leading Northwest millers were uninter ested in either the market or supplies. Present price ruling for wheat t Pa cific Northwest points Is considerably 1A excess of what grinders can get out of the grain, even without counting their normal crofits. There still remains an unusualfy-heavy supply of patent flour at practically an mine Mortnwest min ing centers; therefore this, together with the absence of higher prices for the product, precluded any possibility of milting Interests becoming excited over the present price or condition of tha w&eat trade. . - coarse Grains Hignsr. Not only was the extreme strength of the current, period, but additional strength was forced and this brought out a higher price range. Stocks of barley available for tbe market at Pa ciflo Northwest points are now ao lim ited that bids have at last been placed upon a nominal basis. There Is a strong demand, but.no atocks are available to supply this. wnai euopiy or oats was orrerea aur. lne- the last six days was ' auickly snapped up at higher prices than dur ing tne preceding wees, ine aemana for oats la perhaps the best of 'the cer eal market.' Aa high as $32 per ton was offered and nald for supplies during tha week and the offerings at no time kept pace with the requirements. Interest In tha flour market is nom inal. What orders are now coming for ward from the Orient are of insignifi cant amount and are usually for estab lished brand for filling In, Patent flour trade la extremely dull with prices sta tionary. ' . XLusraxxs auus surasr, Hlrher nrlces were again in effect for mlllfeeds In the markets of the Paciflo Northwest Stocks are lighter than ever and there is practically no hope for an Improvement, aurina; tne remainder of the season. ' . tr . For grain bags the market Is shOw Inar aiarna of stubborn steadiness. Hold ers are not Inclined to make further concessions; In fact, aome of them have withdrawn their low priced quotations and are asking a quarter cent advance. Wheat Nominal, producers- pricoar iraca uudib.. viuw. - - w " ' t .. iib bluestem, 1.0l1.02; red Russian, 91 Q 2c; fortyroi.i, 4c; Turaey reo, itvitc; Wllliametta valley, 84c. - - . T A O T tT" V Mninlnal Tt-rtil wtB1A(i track bams ! Feed, 128.60; brewing, 127; rolled 12. ., ' .... OAT8 NO. I reea. i.uw; rouiing, "piiTia Belllnc nrlce! Patent Il.tO: Wllliametta vallny, 14.70; local straight; .n. timnihi;... fancy.. tlS..ocdlna-, lli!2; eastern Oregon-Idaho -fancy tlmotny, tuvui i w tiO; veicu ana oats, iigi"i. cmbbi, tomiii. Clover, $ per ton. 1 v - MIuITIjTFS Selling price: Bran, 124 tOigaiS.SO: middllnga, -iJO.tOfJi.OO; Shorts. 128.80 27.80 per ton. . uiiai.n UAua 9, i caicutia s o. Continue to Talk of Lack of Business But Many Plants Enlarging Facilities. The wool market la still of unsatis factory character. Efforts of eastern mill Interests to depress the trade are still having their effect The continu ance of talk of the shutting down of factories in the east is oneMg factor in the trade at thia time although there la little doubt In most quarters but what most nf this Is done simply to affect values possibly the tariff. One remaraaDie teaiure oi mo mm situation la shown when It Is noteJ that there are more addltlona being built to the mills than the capacity ot those claiming to-oe shutting down be cause they cannot be operated at a profit on a free trade basis. With American wool prices on .a free trade basis for over a year, there seems to be aomething; wrong with the lnatl tutions that cannot compete with nth.n whether this la watered stock or merely bad management or both, none are able to confirm at this tlm Wool prices In the United States have been the weakest In the entire world for two years and present indi cations point to the presumption that the real Dottom waa reached some time ago In prices and that the present bear ish attitude la merely to create nig ger earnings ror tne mins. what in onlii of wool la reDorteJ true of the mohair anuaiion. it ia reparian that a general order has been given lor the mohair mills of the country to shut down, and make a display, against the cutting or tne win. in any evem with the greatest demand ever known for mohair and with stocks on hand at the low point, the general trade fall to see why It Is unprofitable to opera ate the plants at tnis time. Si TRAIN OF WHEAT Dealer Are Sending Big Supplies Out pt Dayton Most Going . to Portland. ' Dy Henry Clews. The great foreign banks have par tially succeeded In strengthening them selves, and considerable assistance has been rendered by recent exports of gold from the United States but tha evident financial strain at Berlin and tha un satisfactory tone shown at London and Paris -are auaaestlva of further caution at those centers.' ; . . , The banking- situation at horns is slowly improving.. Bankers have been pursuing . a much mora conservative course during the last few weeka. Loans and collateral have been carefully scru tinised, and more or leas liquidation In both securities and merchandise has fol lowed. As a result bank reserves are beginning to rise and a slla-titly better t. a . a . . . I . . teeiing is developing in panning circles, particularly In the west.. ' Pessimism la still strongest In New York and other eaatern points. Thia Is because all depressing factors tend to concentrate at these points. The east not only-foels financial pressure more keenly than the west, but It has also una to eontena against tarirr, laoor ana political troublea whloh bear more di rectly upon eaatern business conditions than U"on tha interior. The west is comparatively free of these difficulties, and has the compen sating; advantagea of a good crop out look and larger opportunities for devel opment or natural resources. jMew .Eng land has been particularly depressed by proposed tariff chansea and the heavy declines In some of her best aeourlttes which are widely held throughout tne New Kngland states notably New Haven. Boston and Maine, and many cotton and woolen mill shares. The heme monetary situation appears to be gradually rignting itseir. it is tru that dear monev usually means cheap atocks, but securities are now sell ing upon a very low basis, even allowing for any possible reductions of divi dends. General trade continues comparatively quiet. The steel Industry reports a Blackening of orders, which waa to be e.inctri in view of decllnlna real estate operations and the Inability of the rail roads to raise sufficient new capital to carry on improvements. The petition of the latter for higher rates is , now llkelv to receive serious consideration. for it Is quite evident that unless the roads are allowed to place themselves In a position where new capital can be raised the public Is bound to suffer In transportation service. It la hardly credible that the Interstate commerce commission will force the railroads Into such an embarrassing situation. Our textile tradea are still consider ably upset by proposed tariff changes which threaten to injure the fine cotton goods industry and some branches of the woolen trade. The probabilities, however, are that the extreme cuts named in the Underwood bill will be moderated by the senate. Otherwise the bill nromlses to nass in very much the same form as it wen through the house. The outlook for a rational banking and currency bill is strengthening; dally. The above Ideas summarize the fav orable factors affecting the financial situation. There are..however, other el ements that must not be overlooked. Confidence is not atrong, and the politico-social tendencies of the day tend tn stimulate distrust and check enter- ?r!e quite as much, if not more than inanclal restraints. There is still an undue and unreasonable disposition to government interference with business of all sorts. Business, men.yespeclally those leading large enterprees. cannot tell what thew may have to face, and they are obliged to wait for more Bottled conditions. This enforces a further slow Ing down of business, lessened orders, lessened profits and lessened employ ment for all concerned. ... . M The only remedy for this state of af faira Is a return to sane thinking and sane doing, and turning our backs-upon the latest fads and Isms of untried and vlalonary loaders. There Is one other possibility of disturbance in the stock market, and that Is the friction with Japan In the present dispute there la absolutely nothing that warrants war. Janan could not finance a war with the United States, which would end Irf only one result that of disastrous defeat to Japan. But Japan Is proud nation, and may easily feel offended at our treatment, which has been unnecessarily brusque and Inoonslderate. It would be far better for the United 8intps. and esDecially the Pacific coast. to cultivate- friendly relations with the Asiatic "peoplo. eapeclaly if we 'esira to secure our shire of a rapidly grow ing commerce with that portion of the world. At present we are driving commerce- that should go through Paciflo ports to our foreign nvais; simpiy De- cause or race prejudice ana snort sighted legislation. POnTLANn MVtfHTnrir tttw W'kEnd'g: Hogs. .Cattle. Calves. Bheep. May May May May Apr. 24. ...1412 17. ...4519 10... .2649 J....;2T7. 28. ...1945 Year ago. .2667 1608 1811 1833 1178 1919 1089 176 116 7147 4794 23-i 6514 1 y'rs ago...l47V ','.2284 ' 234 4 (648 ' 1699 1773 4883 Daivton. Waah.. May 24. It . Is esti mated here that the gralnmen are ship pinr at the rata of not less . than a traihload of wheat a day from tha Tou chet and Walla Walla valleys. The wheat is belnjr shipped in nearly all cases to the-Portland markets Unusu ally large quantities or grain nave oeen stored until quite recently In the large elevators at Turner: Dayton. Prescott and Walla Walla. - CHICAGO, HOGS LOWER rhloiidL Mar 24.--Hoaa. 12.000: left erer. 2S00; run rear ago, 12,0o0; market 2tt to- 5c lower: mUed, 88.40(38.62; heavy, I8.4O13S.6O; rough, 88.8.8B; light, 88.40iS8.65. Cattle, os mariet -ateanr. , . Bheep, 1000;, market steady. OMAHA HOGS AT $8.60 -Sooth Omaha, Neb., May 24. Cattle, 1220: market ateadr; steers, S8.Q0f8.o eowa. ana heifers, I6.8O0T.7S. . Hoge, ouen; maraet tue oigoer at es.oo as.su. Sheep, Done. " - , . ' ' hum MoBff :juid .Exchange. I 4B0ffl4'- ' ' - ' silver, 27 13-18d; bank, rater- 4$t' Per sj Vt HA-Producers' prices: Wllliamett-j cnt V. , - " ,"'. New "- Tort May 2 4. Surfing ex change, long, 1 4.83 H; short, 14.87; sli ver bullion, 60 tie. ; . ; ' ; .. Ban FYanclsco. Cel.. May 14. Sterling exchange' ' 80 days. H.ti; sight, ii.ia'a: documentary, t si4i transfers, telegraphic, 2ft per cent; sight, par. .' GRAIN GROWS RAPIDLY Warmer Weather Brings Out Wheat In Umatilla County; Straw Growth Feared. Pendleton, Or., May li. Hot weather nas prevailed . in umatina county for the past week and as a result the grain has been growing apparently several Inches a day. A month of such weather Is needed, the farmers agree, for the best development 01 tne grain. How ever, there is a danger that, with the areat amount of moisture In the erounfl and with hot weather, there will be an exceptionally heavy straw which will detract irora tne size ana weight or the grain. - KANSAS CITY LIVESTOCK Hogs 5 Cents Lower With Tops at , $8.65; No Sheep Arrive. Kansas City, Me., May 24. llogs, 1500; mar ket oe lower; tope, 8.68. prattle, 2UO; market steady. ' fiheep, none. January March . May July August New York Cotton Market. Open. High. Low. Close. 1118 1127 1167 ...... 1 1 1 1 ...1157 October ..,.1124 Decern oer . .1126 1122 1129 1167 1179 1168 1128 1126 1116 1127 1166 11-71 1164 1120 1120 1118(i 11 27 1166j 1172$ 1163 i 11204 1121022 San Francisco Grain Calls. Ban Francisco, May 24, Grain calls: ' BARLEY i -; Open. High. Low. Close. May .........14134B ... ..... 149A Dec. .......146 146 146. 148 OATS W. May ....175 . 175 175 175 n iiiii mi p rn 'NEW TORK COTTON BXCHANOB CHICAGO' BOARD OF TRADE ' THB STOCK AND BOND EXCHANOS BAN F KANCIbCU rOKTLAND IFKICB i 16 Oak U Oronaal rloor, J.ewla BUa raoaas aaaisoavu av-aier. J hy Hyman II. Cohen. Livestock values showed nnnaldarahta change in tha North Portland market , during the week. There were smaller runs of hoys and cattle, and greater supplies of calves and shaep than a ' week ago. -, me market ror shevp showed a fur there sharn break in values, riua tn hath the greater arrivals and tha lack of quality among most of the offering. Real good quality of mutton, while sell Ins; at a lower price than Jast week, waa in quite good demand. The decline In the better class of stuff was the direct' result nf tha nreMalnar nf an tniifh nnnn stuff on the market Shippers of half fat mutton were entirely responsible for the major portion of tbe week's break in aheep yard prices. Conditions In the sheep trade at points east of the Rockies were not nearly as favorable aa during; the preceding alx ' daya. At practically all points Tower prices resulted and the outlook Is seem ingly for another downturn of values. Norm Portland nominal mutton pries ran are: Spring lambs f 7.00 Yearling lambs 6.00 Old wethers 6.25 5.50 Fancy ewes KM Ordinary ewes 1.00 Cattle Market Holds High. Last week's extreme values were again reached in the cattle pens at North Portland during- the last alx days. A number of loads of cornfed top stuff reached it in the steer division, and at . the closing of the week the market ahowed as firm a tone as at the start. T.ie great supplies of frozen beef being brought forward from Australia to the California markets, are havlntr a direct effect upon the trade fpr live stock there; indirectly having an ef- -feet upon conditions here, with so much outside beef coming into the Cali fornia markets, and this aellng at some what lower prices than : Dackers are able to sell tha home product, there la naturally a more limited demand for cattle in t.iat section and lower prices have reaulted. This, therefore, haa thrown considerable California cattje on uie loi'm inaraei, arm 11 hub is con tinued for awhile It is sure to bring down values here to the southern baals. There was a greater run of Calves In the market at North Portland for the week, but the trend of the trade con tinues firm around full prices. North Portland cattle range! Heavy fed steers 88.764 Choice steers 8.40Q Common steers ...8.00 Fancy steers Fancy cows rancy iignt calves i.76(rr9.oo Ordinary light calves 7.25 (ft 7.60 Heavy calvea : 6.00 6.80 Best bulls 6.50 Ordinary bulls . 4.6004.75 Hog- Trade Shows a loss. Further loss In price is shown in the swine trade for the week. - Values ware not at all uniform, there being an er ratic tone moat of the time. Buyers picked out Individual lots and for some of these better prices ruled than for others, although there was little, If any difference In the quality. Hog market offerings in the local yards during the week were over 1000 head less than during the proceeding six daya, but-even with this, killers had their full needs. Hog market prices east of the Rockle were somewhat firmer during the week and at the closing North Portland con tinued to quote the lowest price of any of tlie leading stockyard markets In the country. North Portland general hoc; market: Beit light 8.268.30 Medium light 8.008.15 Medium heavy 7.80if7.0 Rough and heavy 8.50 7.60 Monday Morning Sales, STEERS No.- Ave. lbs. Price. 28 ill 89.00 24 -1121 8.00 24 una 9.00 29 1021 . 8 23 2 114ft 7.78 23 itnn 9 .no 24 J32 9.00 ........24 132T ' ' 9.00 .... J 1018 g,oo ........ 17 SM S.00 8 . 102t T.79 ........ a 102 7.M 28 872 TOO H008 , 88 ...109 98 97 S3 - Beetloa. rth .... Utah Utah .... Utah Utah California Maho .... Idaho .... Idaho California Waahlngton California Washing toa Oregon' ... Oregon . . . Idaho .... Idaho .... Idaho .... Oregon ... Oregon , . . Idaho Idaho ..... Idaho .... Idaho ..... Oregon' ... Oregon . . , . Oregon .... Oregon ... Idaho ..... Oregon . . . . Oregon . . Oregon .... Oregon .... 3 , 1 103 , 108 93 .i 65 (eeaeae 82 ,....132 , 81 4 1 '4 16 .......... 1 SPUING1 LAMBS 180 160 209 28 1S5 88 8) RAO 1HT ' 198 , 181 1S4 23A 180 139 810 870 410 330 300 CaUfornla ...161 BS . COWS Oregon 3 " 9.0 Oregon A " 1002 CALVES Oregon ................ 2 180 Waablngton 2 .820 HEIfEItS California 18 ' 765 Waahlngton TV. 18 '. 82T Oregon 1 820 83.38 8.83 8.80 8.30 8.23 7. SB 7.35 7.80 8.28 8.23 8.2.1 6.23 8.23 8.23 8.23 7.2ft 7.23 , 7.2ft 7 23 6.60 17-28 17.00 8.T3 19.00 , ' 7.00 8.00 7.00 7.00 (Continued on Following Page.) tBAJriPOMTATIOM. ANCHOR LINE STEAMSHIPS Salt- Every Saturday to and Frees New York- Londonderry Glasgow Ocean Paaasge 7H daya. Moderate rates.' Tor Book on Tonrs. Rates, etc., apply to HENDKRHOX HKOTHRRS General Agents, 85 Wast Randolph St, Chicago San Francisco and Los Angelc as. xoie cut saus 9 a. in., Kay 37, , BS. Beaver Balls 9 'a. m Joes 1. The lan rraaciaeA at Portland . a. Co, xiokss uinee aa ana wasn. 4 wjta O-w. . aa. as a. co.i naraaau aoou, A-eiai. COOfcaVYLIINltj Steamer Breakwater . Sa'ls from Alnsworth Dockv Partlaoa.at 8 - ., April 17, 28. 30, Mar 6, 10, 10, 20, 25, 80, and theTeafter-esery - fit daya at 8 a. m. Freight reeelred natll 8 p. to- except dar presluus to aalllng; previous day,, a. p, m. Paaaenger fare first Claaa 810; eecond elaaa $1 Ineludlng berth and meals. Ticket office at Alnswnrth Sock. Portland A Cone. Bar Siena t.ma- aeeUBf, ageas.. eiala (euoa aMM 7