, - - l
THE OREGON SUNDAY JOURNAL; PORTLAND, SUNDAY i MORNING, DECEMBER 211913.
FULLY 10,000,000 BUSHELS OF WHEAT LOST IN-
' o. -
NORTHWEST
0
GOVERNMEN
T'S
CROP
FIGURES
CONSIDERED
-V.
FAR TOO
EXTENSIVE
Grain Trade Unable to Find Where
J All of the Record Crop Has (Jone
to Fully 10,000,000 Bushels
Cannot Be Discovered.
By Hyman H. Cohen.
Everywhere there in a tendency to
cut down so-called official estimates of I
' the wheat crop of the last season. In
this country there has been a growing
; belief among the trade that the govern
ment figures are annually higher than
the actual output of grain.
It has roever been discovered to a cer
talnty where these big crops that the
government estimates go to. Figures of.
jolliers and shipping interests together
v with the most liberal estimates for home
'. consumption and seed fall to disclose
i where the reported record crops are,
In RuBsla this season they estimated
a r.ron that showed an increase of 100
per cent over two years ago and per
" . haps SO per cent over a year ago. Tho
'HOP
DEALERS FAIL TO
AGREE WITH VIEWS OF
GROWERS" ORGANIZERS
COOPERATION IN FRUIT SELLING
Claim That Figures and Facts jJuse
Garbled, Therefore Are 1nre
liable; Cost of Selling Said to
Far Exceed Estimates Made.
By a Hop Dealer.
If the hop growers' organization
Is
naps 60 per cent over at jmi jiiu' . .
leading crop estimating authorities out-nne one they made.
1 aide of government service, have been
".' unable to discover such productions.
- ' It has been generally believed that
the Idea of making government reports
on the crops was to really benefit the
producer but from what can be learned
the official figures are invariably above
those that private estimators figures,
thereby placing the government figures
In the light of a bearish argument so
far as prices are concerned, while it Is
true that few grain buyers really took:
the government figures seriously this
season, stilt tney used tnese same esti
mates to purchase their wheat for less
mnnev than the Stock would have been
- worth had a closer guess been made
- regarding the output.
Here in the Pacific northwest private
Interests figure that the government es
timate of the wheat crop of the three
states Is from 10,000.000 to 30,000,000
' bushels too high. While It is profiaoio
that the officio. Slgures were not more
1 than the lowest estimate too much, still
' even that Is a very big consideration In
naming the price that producers receive.
Just how or where such enormous
figures of nroducrtion are secured by
eovernment estimators. the grain
trader is unable to learn but all
seem to agree that no such crop
was grown as had been forecast.
The season la nearlng an end, the
bulk of the supplies have either
passed into consumption or have been
distributed among tbe public ware
houses: the foreign shipments have been
figured to a dot, the railroad movement
' Jias Deen round ana sun mere is bum h
shortage of perhaps 10.000,000 bushels in
' the crop of the three states that none
i can account lor it tne government ijb
urea are accented.
. There was a firmer tone In the local
' wheat trade during the week and prices
' were again forced higher. The buying
was principally for the sccount of in
terior millers but some liberal purchases
were reported lor tiaewater account
There was practically no new develop
ments in the coarse grain markets and
both oats and barley remain inactive
with prices weak.
Hay trade was somewhat firmer dur
ing the week, the cooler weather stlmu-
lating the demand.
Market for mlllstuffs was somewhat
firmer during the week and although
' prices are unchanged, indications are
pointing to an, advance within the near
.future.
WHEAT Producers' prices, track ba.
sis: Club. 84 (ft 86c; milling blueatem,
94095c; fortyfold, 8686c; red Rus
sian and hybrids, 83 84c; valley, 850
86c.
- BARLEY Nominal producers' prices.
track basis: Feed, $23.60024; brewing
S25; rolled, $25 per ton.
FLOUR Selling price: Patent, .1.50
4. 60; Willamette valley, $4.60; local
straight, $4; export, $3.66(g'3.80; bakers'.
$4 40 4.60.
HAY Producers' prices: Willamette
valley timothy, fancy, $14; eastern Oregon-Idaho
fancy timothy, $16016.50:
alfalfa. $13.60014: vetch and oats, $11
12: clover. $910 per ton.
MILLSTUFF8 Selling price: Brar.,
$20.60(f21; middlings, $29.60030,
. shorts, $22.50ft23 per ton.
CLOVER SEED Buying price: No. 1
red, country points, 12c; Alsike, 14c
going to be led to any great victory by
Sir. Petre. it would seem that he will
have to be more careful in his calcula
tions and his figures, than was tthown
by his urticle in lunt Sunday's Journal.
lie says he is not resopnslble for fig
ures. Then he should not have used
them. He can easily find out in any
hop office on the coast that hops are
no( selling for 27 and 28c in New York.
The best proof of this is tne fact that
one of the largest hop merotrHTrts re
cently sold over 1000 bales off'stockviere
on the coast at from 19c Vo 21c. Had
they been able to have send it to any
better advantage -in the east, they would
have done so, as they have salesmen In
both New York and Chicago. A sale of
even 24c would have been preferable to
. PORTLAND JOBBING PRICES
L. These prices are those it which wbetaitlm
tell tn retailers, eieept otherwise stated:
BDTTBB Nominal. Creamery cubea, selllng
8 rice 82e, which Is the bntterfat oasis; prion
let first, B4.1Sc; ranch butter, 20c j Mew
: Zealand prlnta, 84c.
EGOS Selected. Candled local extras 400
, die; aelect pallets, 40c: caae count, 38c; apot
i I buying price, t. o. b. Pcrtlaod; storage, 830
"' 86c: storage. 800 32c.
LIVK POULTRY Hens 14c; springs 14c
stags 11c; geeae. 12c: Pekln dneks. 13c; Indian
. Itnnnera, 10llc;- turkeys, 2021c; dressed
; 2028c; plgoons. old. $1; young, $1.60 dosen:
' lackrabblts, 11.60 doaen.
CHKK8K Nominal. fresh Oreeos finer rail
- eream twins and trlpleta. 17c; dallies, 17Ue
Young America. 18He.
Haps, Wool and Hide.
HOPS Buylna price, choice, 20Q21c; prime
Jei9',ie; medium to prime, it; medium!
; lUtjlBc
nUOL Womlnal 19l clip: Willamette al
trr coarse Ootawold, lBc lb. ; medinin Bhrop
. shire, 17c; choice finer Iota, 18c lb.; eeatera
' Oregon 10Q16c, arcordlnc to ahrlnkace.
CUITTIfcT OB CA8CAKA BAKK ItflS, car
' lets, 4fcc: Jeee than car lots, iftc.
, MOHAIR lia Nominal 80c.
UIDK8 Dry bldea, 2a23 Imt greea, HO
. IJe; salted hldea, 18c; bulls, rraen nit. ta
Sc; ktpa, 184) 14c; caWea. dry. 25c; call eklaa.
salted or green, 18c; green hidea, lc leaa than
; ealted; sheep pelta, salted, ahearlDga, lw28c:
dry, 10c
rmita and varatablaa.
BKREIES Huckleberrlei, 8ai0c lb.; crtn-
Berries, local, $Ui2; eauern, 11.604iia barrel.
FUEBU rHtllB uraugea, nafeii, t2 oua
. bananaa, 4feU0c lb.; lemom, $6.&0b7.U0; limes
: plneapplea, 6H8'". g"Pe, 81.7SQ2.O0; ueara
- . il.85U1.7&; perilmmuiu, l.75 crate '
ViiEXABLK turulpa, SI. 13; txvt( ls
rarrota, 81. '6: pirialpa, II. 14 Si,l: cabbiice'
., ai.SU; CaUforrda toinatoen, $1.75; luig"
.-: 81.T8; green ouioui, 12Vic dozen bunrhea; uJul
; pars, bell. 6lc; head lettuce, 40M5Oc down
; celery, local, 604j75c; Cillfornll, a.0 crate
egg plant, 10c; ciullflower, local, 05cfii -A
duiea; artichikea, fl.uo doxen; eprouti lie
.. ntrliis beaua, 71110c; llun beana, lie lb.: peai'
eaii..
...JNS Jobbing price, $2.78; carload
. tiujiug price, 2.a(i2.38 f. o. b. thlm-Aam an.
i" two; garlic, V2iltc lb. 1 14
; AfFLErt apllMulwig, $1.2oe2.B0; Northern
' Hp, T5ci$1.0O; Jooatbao $1.004J2.00; Kbodi
Island Greeulug. $1.0uai.2S: Wlmer BinZ!
1.0iil.76 pit boi; cooking gradea. Jbcfflli uo
' ATOE& - Belling price: gitrr choice
tl.15ttl.85; choice, 1.15; ordinary, 1.00 kick'
; huying price, carloaoi. 70c; extra finer, lornd'
. iOe; ordinary. 10c eounUy polnU; iwtati, 12.00
ier ewt.
Meats, Flah rad PrsTlslona.
't)BE88ll MEATS Selling price Country
lllltd: Hogs, Xuncy, 8',4410c; ordlnirr. Bc
rough end bcity, 7j(Hc; Lucy rtali, Uc or'
4lluarf 124t3ic; poor. ttl0c; Iambi. 10t-
UJUt I. be goals, 24o. '
UAUS, BACON, tic. Hi mi, 18ai8Uc
breaktaat bav-ou, 18ii7Wc; boiled uim. 2u2c:
picnic. IBc: eotuga -). ')c
MlLATs Packing heuae Steer. No. 1 itock
ISci eows. Ke. 1 stock. 12c; ewea, 8c; w.tb'
tra, lOHei taaibe, Uc; pork lolm, lgc; dreaaad
bnga, 18c.
.OVBTKBS aboslwater bar. ner gallon ( i
w 100 I", sick (11 Olympla. per a.Uoi;
$3.80: per 100 lb. sack l; canned intern
ase caai 8 -SO dusea; euitirn, in abiU, ai.ToU
.U0 per 10; rasor clams, 2.O0Za bo;
,.s enters, .falloo, solid pack, $8.00.
rlHIi Nomlnsl. Draaaed flouodori, Tej bill.
kt tl0c striped baaa, lie; allrinlde lalmo
Br; steelheads 10c; halibut, 8Qi2c: Co
lumbia smelt. l$tte lb.1 M.rlnps, 12Hc; perch
a lb.; tartar. 0c lki black baa. loV sUrir
melM sha4 4 It blaok eed, tvo; sturgeau.
J2UC! dressed tomcod, 8e. T " '
LA alb Tlsrcea. UMci eompoaso. tiercel,
l,tBABaWlarg $1.i nediua' $1 doses, '
Oneerlas, ;
i PtOAa Cube, $1-601 powdered; $5.80; fralt.
er bertr, SAIOi baata, 4.80i dry grsAUlated!
Mr. Petre carelessly states that the
freight rate Is 2Uc ner lb. Any railroad
agent could have told him that It was
but lc.
He states the 1906 crop was 160,000
bales. Any hop man could have told
him that it was less than 120,000. Not
that this matters, but it all goes to
show how carelessly written the article
was.
He states that New York's exports
were 70,000,- The United Statea customs
reports show.lt to be but 64,166 bales.
He statea that 80,000 bales have been
exported through other ports. No one
knows what these figures are. Inas
much, however, aa the Montreal gate
way was closed this year until Novem
ber 10, there have been practically no
hops moving through that port, which
has been one reason why New York's ex
ports have increased. We do not believe
that any well Informed man will put the
enstre exports to date at over 70,000
bales.
No one will attempt to deny that
supplies are short, but it would seem
to us that the thoughtful grower would
do well to take advantage of such a
condition, rather than to follow Mr.
I'etre's doubtful logic.
We are told that the growers' condi
tion 'could not be worsted. Well, it
could be worse, at any rate. There is
a good market now at 100 per cent
profit net to the grower. This Is pretty
good. What excuse is there for the ex
Fstence of a pool when auch prices can
be realized?
No one denies the shortage. However,
we will venture to wager Mr. Petre that
there will be more breweries closed
prior to September by the effect of the
dry laws than by any shortage In hops.
Mr. Petre would form a corporation
which would compel the growers to
sell their hops through that organiza
tion. Incidentally, what would happen
if a grower were compelled to sell
through the organisation and at the
pinch the organization could not make
the sale? We know of better hop or
ganizations than Mr. Petre could possi
bly form, which sometimes for weeks at
a stretch are unable to sell any hops.
Mr. Petre would stoo contracting, ana
yet If he were to handle the Oregon
hons. it ls the very thing he would be
compelled to do. Brewers do not wait
until the last minute to buy their, sup
plies. If Mr. retre wouia not sen mem
In advance other men would, and other
yards would be planted to take care of
the demand.
Mr. Fetre would charge tne grower
Uo ner Bound commission to cover ex-
Eense of handling the hops. This shows
ls lack of knowledge of the subject
at hand. Does he not know that he
would have to pay his salesmen in the
east VG per pound commission? Does
he not know that he would have
also to pay their expenses which
are roughly estimated at an
other half a cent per pound? Per
hans it is news to him that the Interest
often exceeds He per pound. Possibly
he is not aware that there are often
shortages that amount to more than
that sum. Possibly he would like to
know that there are often rejections
where anywhere from a cent to five
cents reduction in price must be made.
It seems that he is surely not taking
Into account the fact that there arc
often accounts which are Post entire.
and yet all of these items Mr. Petre
By A. O. Randall. ,
President Rogue River Fruit & Pro-
, -.duce.BsocJail.op, .
The Rogue River Fruit & Produce as
sociation ls an Oregon corporation, or
ganized on the canltal stock plan in
the year 1910. Its capital Is $60,000, di
vided into 6000 shares of $10 each. Its
stock ownership Is widely and gener
ally distributed among the fruit grow
ers of the Rogife River valley.
it win serve no useful purpose to
here enter upon a discussion of the rel
ative plan for organizing a local fruit
association. Men will always differ
upon this subject and their differences
are in reality reflections of their dif
ferent temperaments and characters.
It is sufficient to say that the Rogue
River Fruit & Produce association is
an expression from the viewpoint and
of the convictions of a great-majority
of the men who arc engaged in fruit
growing in the Rogue River valley.
These fruit growers are, for the most
part, men of education and business ex
perience. They are progressive they
fully realize tlie value and need of co
operation, but they also realize the lack
of coherance anrl efficiency 1n busi
ness of the purely cooperative type
of organization, especially when
placed in competition with the
more compact and individualistic stock
corporations. These fruit growers de
termined, If possible, to create an as
sociation which would afford them tho
substantial advantages nf cooperation
and at the same time avoid the weak
ness and instability which usually at
tends enterprises promoted for this pur
pose. Organisation a Bucoess.
The Rogue River Fruit A Produce as
sociation ls the result, and If the opin
ion of its organizers and stockholders
is to be accepted, it Is a success. It
has sfforded its stockholders all the
advantages of cooperation; Its careful
and consistent pack during the past
three seasons has gained for it an en
viable reputation in the markets which
is beginning to bring substantial re
sults to its shippers. Its corporate
form. Its continuity of management and
its paid In capital have given it a cred
it and effectiveness which have great
ly promoted the usefulness. It has con
structed packing hous'es for the use of
its shippers at convenient points
throughout the valley and at Medford
has erected at a cost of $40,000 a cold
storage and precooling plant which
promises to be of tremendous value, es
pecially to growers and shippers of
pears and to make the profitable hand
ling of peaches, tomatoes and other
soft fruits and vegetables possible. It
has In sddltion performed all tho us
ual functions of the local association In
furnishing Its memebrs their orchard
supplies, Inspectors, packers, etc., on a
cooperative basis of cost plus the ex
pense of handling.
Market Zs Biff Problem.
Important a are these matters, how
ever, the stockholders and officers of
the Rogue River Fruit & Produce as
sociation have realized from the begin
ning that the most vital problem con
fronting the. fruit producers of the
northwest is that of effectively and
economically marketing the fruit and It
l-l"tl-4tn"t'hat"thr-nieB-t'atls
factory progress has been made. So
much has been said and written on this
subject bv people who have given it only
superficial thought that it may not be
ont-of place to consider briefly- the
nroDiem in us larger aspect.
If we begin with the consumer and
look backward it ls abvioux' that no in
strumentallty for distributing our fruit
could be devised which would compare
in economy and efficiency with the cor-
r-:v f : n
A. C. Randall.
ner grocery. Our apple is distributed
only during a period of six months; our
pears during a considerably shorter
period. Any organization devised solely
to take the place of the retailer in the
distributlon'of Our fruit would be of ne
cessity Idle for six months in each ycfir,
making necessary an Impossible expense
for maintaining the organization dur
ing its period of inactivity or an equal
ly impossible labor of creating a new
organization each year. Furthermore,
the retailer distributes not only our
fruits but a thousand other commodi
ties as well. He distributes his cost of
doine: business over all these different
commodities, each bearing only its share.
The result ls that He can afford ade-
?uate service In the distribution of our
ruit at a fraction of what it would
cost for the same service through ex
elusive agencies. '
Wholesaler a JTecesslty.
""The" sanieV'tlitng' Is"! rue of lhe"WhoTei
saler. He handles tne orange of Cali
fornia, the banapa of Central America,
tne peacnes, grapes, melons, vegetaDies,
nuts and. dried fruits, each In Its sea
son. One store room, one office force.
one set of workmen, one equipment of
drays, perrorms tne service or dlstriDut
Ing and handling. - It is clear. In fact,
that the agencies for distribution which
have evolved in modern society are,
after all. more economical than any
thing that , is likely to come from the
Plans oi tne dreamer or. tneonst. it is
for this reason that most of the great
manufacturer, especially of food stuff
ana otner staples,, una it aavisame to
distribute their produce through the
jobber and retailer.
. Marketing- a Chanirtujr Problem.
The marketing of the deciduous fruit
of the Pacific northwest does, however,
present a new .problem which does re
quire a new treatment. This new prob
lem arises because the product of tho
orchard ls a highly perishable com
modity and because the producers can,
only to a limited degree, regulate in
any season the output thereor. Every
market season presents a new situation
and-a new problem. The quantity of
any proauct wnicn tne puono win con
sume varies Inversely with Its' Drlce. A
small crop can be marketed at a large
price, a large crop requires a lower
price. The true value of our apples
eacn season is tnat price at wnicn tne
whole crop can be sold to consumers.
less a reasonable profit to the jobber
ana retailer wno aistriDute tnem. it la
never really necessary to market the
crop at less than this price. To do so
means that the producer Is sharing his
earnings witn speculators, on tne otn
er hand, no agency or combination can
get more than this- price. To attempt
it spells disaster. But while no ef
fort.organlzed or otherwise, can sell our
crop for more than Its true value, it ls
nevertheless true that this value may,
by organized effort, be materially In
creased, rjvery move ror wider dis
tribution or which otherwise tends to
swell consumption. Increases the true
value of the entire crop and the price at
which a given crop may be marketed or
what amo'unts to the same thing, in
crease the size of the crop which may be
marketed at a given price.
Judgment aa Asset.
It follows from the foregoing that
the best agency for selling and dis
tributing our. apples and pears ls that
one which:
First Is best able to determine, each
season, the true value of the crop. Thl
not only requires men of clear Judg
ment and long experience in the fruit
Industry but a constant and reliable
fund of information. It requires an in
timate touch with all of the important
fruit markets and the large fruit pro
ducing sections of the country and of
ine worm.
Second Is best able to give the wid
est distribution of the fruit in such
manner as not to put it into markets
OUTLOOK
NO
'MORE-.
HOPEFUL Nl FINANCE;
SITUATION
CHANGING
Signs Not Lacking for Moderate Im
provement In General Situation;
Bond Issues Show Trend of the
Trade in a. General Way.
(Continued on Following Page)
Foreign Competition Means Improved Butter
BETTER BUTTER WILL
BE NECESSARY HERE
TO HOLD THE TRADE
Dairy Interests and Creamery Men
Should Get Together for Protec
tion Against Foreign Importa
tions; Quality Counts.
QUALITY IS AFTER ALL
IS SAID THE GOVERNING
CONDITION
OF PRICE
By Hyman H. Cohen.
While outwardly li looks as If the
competition of foreign butter is going to
ruin the dairy industry of tne Pacific
northwest, the competition is really a
benefit.
For years the Pacific. nnrthvMf Vina
had the reputation of making soma of
the poorest butter in the country There
were two strong reasons for this con
dition and either of them . h n ha pdhIIv
would cover with a charge of one half i remedied if dairy interest and cream-
nun, no. rt,,n,1 ' arir nnn.n , . . . ...Ill . . i
ioiiuia win HOL iu9iruir.
In the first place, the law allows too
great a percentage of moisture in but
ter. It has been agreed among the lead
ing creameries of the country that this
ls one of the greatest faults with the
making of butter. Creamery interests
are too often inclined to leave In the
product every single drop of moisture
that Khe law will stand for.
The result is plain. The butter fails
to show good keeping quality and does
not have the rich taute that ls so ap
parent In the old-time dairy production.
The creamery man makes his profits
on me moisiuro mat is in tne product.
The more water he is allowed to leave
in butter the greater his dividends. For
that reason many have been Inclined to
stay as close to the limit as possible;
In fact, in quite a number of Instances
It has been found that they have over
stepped the line and prosecutions have
resuiiea.
Within a short time there will be
still greater competition with foreign
butter, therefore it Is up to the cream
shipper and creamery interests to do
something ho that they can meet this
competition and retain the bulk of the
traoe.
Cream shippers could add much to the
quality of Pacific northwest butter by
keeping their cream in better shape and
sending It to market before it becomes
unfit for use. rlrt nhmilrl hn pniiulH.
ered a crime in this regard because it
is one or the things that eats up a
large per cent of the profits that should
go to tne aairymen.
as cneap as airt nas Deen a very
common expression witnin recent years,
but Insofar aa the dairy business is
concerned it means just the reverse, be
cause there is nothing In the business
that Is as expensive to producers as
uiri.
With the formal opening of the Pan
ama canal the best butter makers of
Denmark will endeavor to secure a big
snce or ine nuner traae or tne Pacific
northwest. As Denmark is considered
the maker of the world's best butter, it
remains for dairy interests here to build
up their product, so that no matter how
good the foreign stock ls, the local peo
ple nnuuiu turn out a proauct tnat ls
fully as good, if not better. This can
be accomplished easily because It takes
considerable time for the foreign prod
uct to arrive here and every day means
ueieriuianuii oi quamy.
cent per pound.
No, Mr. Petre, a broker can buy hops
here on a commission of one-half cent
per pound, but the brokers are not hop
merchants. The latter sell to brewers
and have all of the above and dozens of
other contingencies to contend with.
Perhaps, however, you have some
scheme by which the brewer would
come to the coast, pay cash to the .for
tunate farmer, in which case, dream on
Mr. Petre, but while you are di naming
some man will meet your brewer on the
train and sell him some other hops to
be paid for when they are delivered.
Perhaps you figure that the grower
will shin the hops without the money
and wait until the brewer remits. Brew
ers Beldom remit under 60 days, and we
Know or re w rarmers wno wouia care to
wait that long. Brewers often do not
remit for six months, by which time.
Mr. Petre, most of the growers would
be making your lire a decided misery.
Brewers sometimes do net remit at all.
Mr. Petre. and in that case would the
individual grower have to stand tne loss.
or would the loss be made up from that
nair a cent commission, part of which
yuu were hoping to loan out on Interest?
Really. Mr. Petre. on second thouirht.
we do not think you will have a particle
of trouble In financing your organiza
tion. Most any bank, we should think,
would be glad to back up such a well
balanced Institution.
Sometimes Good Quality Is Ruined
in the Shipment; Growers Should
Take More Care to Eliminate This
Big Drain on Their Profits.
By Everett L. Payne, Commission
Merchant.
Too much cannot be said regarding
the dressing and preparing of produce
for market. Every day sees more or
less stuff sold at poor figures, or con-
aemnea, that would have brought goo-l
prices had It been properly dressed and
carea ror Dy tne grower and shipper.
T H ,3 na la nhlllnilCllir , V. nllln.lAvIa
but he naturally blames the commission
man.
Why not spend t-he-tlmt to put this
Hiurr in good marKctaoie shape? It
will be time well spent and in the long
run will prove profitable and give the
prouueer tne distinction of being
grower or shipper of good produce.
The markets demand fancy grades In
FOREIGN BUTTER IS A
REAL COMPETITOR OF
THE LOCAL PRODUCT
Fancy Stuff Is Coming From New
Zealand and More to Come From
Denmark Means That Northwest
Makers Must Change Methods.
STRONG
DEMAND
IS
SHOWN FOR HOPS OF
NEXT YEAR'S GROWTH
There Is a very strong demand for
hop contracts and a number of deals in
next year's crop are reported at 16o
a pound at Willamette valley points.
Frank Mltoma, of Independence, sold
100,000 pounds at this figure and there
is quite a big demand for more.
The spot hop market Is In better
shape. Both English and American
brewers are again in tne market for
supplies. The trade at this time is bet-
ter than for several weeks. Verde Hill
sold 107 bales to Brown, of Salem, at
20c. and George- Rose was reported the
seller of 300 bales to the Kola Neis Hop
company at zic. rony i,ee is reported
the Beller of 248 bales to T. 'A. I.ivesley
Co., of Halem, at 20 tye a pound.
$5.10; D yellow, 4.0. (Abore quotation are
SO da?' not caao.)
UK A SB BmaU white 6U; Urge wblte, 14.90;
pink, imc! llnias, 814c: faayo, fe.To; red, 640!
HOGS LOWER AIL KANSAS CITY
Sales Made at. Loss of 5 to 10c In
Yards; Others Are Steady.
Kansas City, Mo., Dec 20. Hogs
n. ' . - , A 11 . . 1 . r - .
ncuriyia, tuvu, muiivei, OU 10 IDC lOWer,
Tops. 17.66. .
Cattle Kecelpts. 600; market, steady.
New York Cotton Market.
Month.
January
March ..
My
July
August . . .
September
Octalier . . .
December .
0n.
...irr
...1233
...12!V2
...m.t
...1215
Illirh.
1214
im
1286
1285
1215
,.11BT
..1235
1150
ma
low.
1180
1214
1214
121 r
1108
iiii
121T"'
Oriaana, bead, 0fcif7c; Crola. afto.
HOMtv-i-riaw, u.10 par caae.
BaJ.T Coerae, half grounds, lOOa, jo Mr
ton; 'Ms 10.76j table dairy, 60 $U; fi
17.M); bales, ll25; extra tine barrela, Sm a
and t. 5.25i.00:- lump rock. S20.Q0 par too.
Taints and Oils.
LINSEED 011-itaw, bbla. 08c per gal.: ket.
tit boiled, bbla., 00c tul.; raw caaea, 63c;
d,rr.t,..f.,,ii4TiiB:uw Uon 18 Francisco Barley Calls.
WHITE LB AO xoa 101a, ? pr lb. i too lk. I San Francisco. Deo. 20. Barley calls:
Kiia BC per w.) waa auia, o par U. I Ueo, 19, . Dec. 20.
uiu 1'l.ab uiiwaa hu, o. 1 ClOSe.
TUBPrfNIlNix-la esses. 73c 1 Wood berrtU. Dec .180V4B
toe) in. tairels. 6 r guto 9UTU' J ay' V. . .. ...I'.'.m B
Close.
11921393
122n21
121 O 20
1217ftl8
liesrdOS
Iie0io2
1HSM50
1220(221
Ooen.
130B
17B
Close
1J2B
USA
Everett L. Payne.
all lines and the difference " In price ls
more man enougn to warrant care In
preparing for shipment. From personal
observation the writer hns seen good
stuff shipped to the market In such
poor condition that it Is not to be won
dered at because It brought a price of
worse man poor.
I here ls absolutely no reason for this
condition to exist.- and if It were ellm
mated ana the proper caro taken, the
commission mans lire would he less
of a burden and the farmer would have
more confidence in him and the markets
in general.
The cities are nrovidlne InHnxntnr
Why? In order to have only wholesome
and edible produce offered for sale.
There need be no fear from Inspection
If stuff ls properly prepared.. The
packers all stand it and seem to thrive,
why shouldn't the grower?
The grower knows, or should Irnns
the difference between fancy, poor,
rough or unsalable produce and th Hm
Isn't far oft when off grades will find
no sae at all, aa Inspection will become
more thorough as soon, as the people
realise what it is doing.
ine eommis8iorhman'is doina- all
can to work In harmony with the grow
er and shipper. Their Interest are mu
tual, there should be no friction between
them, but unless the grower ls conscien
tious enough to shin only e-ood stuff
he cannot uxoect returns that r nrof.
OESCKiiTioN-
Ohlo, c...
By H. T. Meyer.
General Manager Northwest Butter &
Produce Co.
It Is a welt known fact that the aver
age dairyman, of the northwest has not,
as. yet. given, serious thought to the Im
portation of New Zealand butter, nor
has he considered in Just what ways
uib uusiuesqRwui De aiiectea Dy it.
Consignments of this product already
received have had considerable effect
upon local mantels ana it is quite evi
dent that, unlers something ls done to
meet s butter soylSnported the dairying
industry In tho .west will be most seri
ously affected.- Only last week 158,000
pounds of New Zealand butter were re
ceived at Seattle consigned to various
creamery interests' In the norchwest.
Another shipment of 836, OOQ pounds is
due in Seattle January 10, and this
shipment will likewise be' placed on the
market of the coast cities.
The quality of the first shipment of
iew itamna uuner received was not
very good. The following consignment
receUed included 386 cubes from one
creamery which were condenfned and
ordered to be shipped into Canada. At
that time we all thought that Oregon
fresh creamery butter had but a weak
competitor in this foreign product. It
ls an undisputed fact, however, that the
quality of later shipments has been of
the very best. The butter Is free from
all preservatives, as the government in
spection Is rigid and the inspectors are
very particular.
Foreign Batter Is Good.
Expert butter men at Seattle have
given this butter a very high score. In
Justice to our creamery men and dairy
men ,11 may no He. id tnat new Zealand
creameries can produce this nlc. clean
flavored butter by reason of the fact
that their season now corresponds to
our May ano june and their cows are
now grazing on rich, green pastures.
Another fact worthy of note is that all
their butter ls made In whole.mtllr
plants. The milk is separated at the
creamery and creamery operators are
tnereoy assured of nice, sweet cream
from which to manufacture their whole
some butter. The creameries are under
rigid government Inspection and in
nearlv all cases the nlAnts tire lnnrr
man any we nave in tne nortnwest.
It is not to be denied that this New
Zealand butter, coming Into our mar
kets, will affect the price of our butter
and butter fat. It costs 30 Un to lav
down New Zealand butter in Seattle.
Allowing an additional He for freight
and brokerage, this butter would cost
Portland dealers 31c. In other words.
Oregon butter must come down to this
level for like quality In order to meet
this competition.
Vv to Dairymen.
I believe that the Oregon butter maker
capable of producing butter nt a
standard equal to any foreign product,
if Ills patrons will furnish him with
sweet cream. If. however, the dnlrvmnn
persists In bringing In stale, sour fer
mented cream to his creamery. ' then
Oregon creameries will be .unable to
make as good a butter as this New Zea
land product. The direct result will be
that the Oregon creameries will hn nr..
able to nay the usual nrlce for
and the dairyman must be satisfied with nfjrti , "
less. The whole question hinges upon SSISSI' ad'of
. ...v. . .. w.iwvcn ,, in, ... im
prove his conditions and curroundlngs
so that he maly supply ' his creamery
with first grade1 sweet cream.
Legislation ought to be enacted mak
ing It compulsory for creameries to pay
for cream on Quality basis. Thn i.t
the careless, shiftless and Indifferent
dairyman take what his cream is worth
There ls cream coming into Portland
now that Is absolutely unfit int nnn.
sumptlon, but under the present condi
tions the same price is received for It
as for first grade cream.' , ,
; Seamark Batter Coming.'
There will . be ' other butter in '' thi.
market before long. Local dealers are
already contracting for butter from
Denmark to be shipped via Panama
By Benjamin B. Bryan,
J ! I T . V 1 iT7Vl , v . I? 1 ft 1 1 n did nvi
lacking for a model-ale imoiovement in
sentiment In the financial community,
which applies not only to New York but
also to London and Berlin. Conditions
at Paris are not particularly satisfact
ory, though latest reports suggest set
tlements are likely to be concluded
without serious consequences, Some
what better results have of late been
secured In London in , the matter of
Placing investment securities, though
admittedly the Investment markets on
tho other side are not as yet. in wnat
may be termed a normal state. Mow-
ever, the fact that some signs of re
cuperation have been displayed ls re
garded as gratifying In m'nds of those
who have been inclined to the view that
before trade and industry and stock
prices on the continent could advance
materially the market for issues, of
rixed maturletlea would have to amw
some signs of betterment, whlch-Jts
stated above, Is the case at present. J
From the domestic viewpoint the re
cent sales of bonds by the Illinois uen
tral railway and the Lehigh Valley was
attended by success, and tne concern-
. . I . 1 !.. .. 1.T . V..I,
jj 1 bl iru innmj ui iivvv v,n pmia u . -1 n i o ,
which, It is anticipated, will be offered
late in January, are quoted on a wnen
Issued" basis, considerably above par.
from which it will aooear that there are
also signs here or a moderate improve
ment in investment demand.
Sentiment has been helped by various
reports circulated to effect that tbe In
terstate Commerce Commission Is likely
to grant tho petition of eastern rail
way's for an Increase in freight rates.
and while the reports are somewhat
vague and indefinite, still many large
shippers have finally arrived at the con
clusion that they cannot expect satis
factory service from the carriers unless
tne latter are permuted 10 earn sui
ficient revenue to care for the ever in
creasing demand necessitated by publio
sentiment In connection witn trans
nortation facilities.
It has been Bald rather authorita
tively that the administration ls begin
ning to realize that railways are our
largest corporations and that general
trade will continue tn slacken unless a
more liberal policy Is pursued. It has
been the practice to dwell at length
upon the evils of the past and to argue
rrom the premises mat mere nas not
been sufficient economy among rail
ways heretofore and that consequently
tney are not entitled to renei at present.
Arguments of the above kind are
Deing gradually revised, ana pernaps in
tne future will be more so for it surely
is not in keeping with progress to at
tempt to chastise corporations for past
deeds when in so doing the country aa
a whole is likely to suffer. Criminal
prosecution under the Sherman law will
perhaps in the future suffice for gen
eral purposes and enable the govern
ment to Secure results which seemingly
were sought as a consequence of the
trust, bustrng crusade which has been
in progress for quite some time. It
seems likely that the hanking and cur
rency bills will be passed by congress
In a dav or so. and now that discussion
among the various contending elements
has greatly suDsmea is oeing -acknowledged
by the majority that de
spite the fact that the proposed bill ls
not perfect, the defects are not likely to
be of such a nature as will visit upon
thn country evil consequences. Of
course, there appears to be a tendency
toward Inflation, but that feature later
on as well as many otners, can oe rem
edied by supplemental legislation.
There is little question but that the
country as a whole will feel much re
lieved after the banking measure has
been enacted into law as many plans
which have been held in abeyance,
doubtless can be carried out with much
greater confidence than when legisla
tion was In an embryotic state.
Oeneral trade continues to display
slackening tendencies and perhaps
many adjustments will have to take
place before a forward movement will
again be resumed but from a stock mar
ket viewpoint liquidation except per
haps in Isolated Instances seems to
have been rather complete, and security
prices show a disposition to hold If not
advance. .Nineteen hundred ami four
teen will probably witness much new
financing and refinancing but those are
problems for future consideration.
SMALL RUN FAILS TO
CHECK THE DECLINE
OF CATTLE
Local Market Shows Expected Be
ductlon In' Quotations Daring the
Week; Jlogs Are Lower With
Rest of Country Down.
PORTLAND LIVESTOCK RTIN.
Week ending Hogs Cattle Calves Sheep
Dec. 20.
Dec. 13.1..
Dec. 6
Nov. 29
Nov. 22..,.
Year ago...
years ego
3789 -
7499
4588
4825
6130
6035
2753
688
1656
1468
850
6081
1300
867
16
29
18
73
66
2
29
6219
3903
2821
6690
6863
8350
3041
Range of New York prices furnished
by Overbeck ft Cooke Co., 216-217 Board
or Trade building.
By Hyman H. Cohen.
There was an expected happening in
both the cattle and hog markets at
North Portland during the week, like
wise in the sheep trade.
Recent forecasts by this paper wera
to the effect that the price of cattle
would drop after the holding of the fat'
stock show and these advance notices 1
to shippers have been fully confirmed.
The extreme top for cattle In the
North Portland market during the week!
was $7.75 and only a very small por-
tion of the run of good stuff went above
17.60. I
There were not a many cattle mar-1
keted at North Portland during the en-i
tire week as is usually shown during
a single day when the regular stock
trains arrive. Totals for the eix days'
were but 688 head.
Seemingly the. country trade took the.
advice of this paper and held back1
their stock, from the market, a very:
wise thing, considering what happened
to the price during the week.
Notwithstanding the extreme weak
ness shown In the cattle trade during
the week, the lower prices and the dls-.
Inclination of killers to purchase any
thing, there Is a brighter outlook in'
sight. It will perhaps be a week or 10
days before real improvement can be.
shown In the cattle trade, but there Is
little likelihood that the improvement!
will be delayed for a longer period.
Oeneral cattle market range:
Best steers -J- 7.T6
Ordinary steters 7.507.60
Poor steers 7.007.25
Best heifers 6.75
Best cows 6.70
Medium cows 6.25
Poor cows 6.60i6.65
Ordinary bulls 4.50
Fancy stags 6.65
Fancy bulls 6.B0
Prime light calves 8.50 iff) 9.00
Prime heavy 6.&07.50'
wine Prices Are Seduced.
Swine prices showed a further reduc-,
tlon In the price at North Portland dur-:
ing the week. In general tho market
was from 16c to 20c lower than the pre-i
vlous week. A very limited amount of
stuff sold during the latter part of tho,
week around $7.85. but the bulk of the'
top offerings did not bring above $7.80. tx
Shippers did not patronise the hoe,
market at North Portland as freely the
last week as during recent weeks. Onlvl
3879 head appeared compared with 7499 1
last week. 4588 the previous week and.
6035 head this name week a war ago.
Plainly thereftwere several reasons fori
the drop In hog values at North Port-;
InnH durlni- th wk. Th rilef of,
these was the fact that killers have re
ceived such liberal supplies of late thatl
most of them retain a good surplus.,
Tbe second reason is that there was a
general decline in swine values at all
American points recently.
At the lower prices the local trade
is still the highest in the country, all
other markets being topped.
General hog market range:
Ton killers $7.fi0r7.S5
Good and light 7.707.7.V
Heavy 7.25?7.50'
Rough and heavy 6. 75 7.00
Sheep Situation Zs Strong-.
Quite favorable market was shown
for mutton at North Portland during'
the week. There was a very liberal in-'
cnease in the marketing as compared,
with the previous two weeks. Killers ;
took hold rather readily and stock I
moved out Just as quickly as it arrived..
There was a net advance of perhaps
25c all through the mutton and lamb'
trade during the week and at the clos-i
ing the new prices were firmly held.
. General mutton market range:
Best spring lambs $8.258.40
Ordinary lambs ............. R.766.00
Yearlings 6.2505.50.
Old wethers 5.005.2i!
Fancy ewes ................. 4.25 4.50 1
Ordinary ewes 3.763.85i
Konday Horning Sales
lOpenlHIgb I Low Ckwe
Amalgamated Copper Co.
American 1. ft (ly..
American Can, ....
American Cnn, pf : . . .
American Cotton, Oil, c
American Ico., c..
American Sugar, e
Aioerlrao Pmelt, e....
American Hmelt, pf...
Am. Tel. & Tel
Annconda Mining Co.
American Woolen, c..
Atrhl)li, c
Atchlrm, pf,
Baltimore &
Beet Sugar
Bethlehem Steel, c...
Brooklyn Ilapld Tranalt
Canadian 1'ai'lfle, c...
Central Leu t her, c
Central Leather, pf
Chi. & O. W., c
Chi. A 0. W pf
C, M. ft St. l
C. & N. W., c.
Chlno Copper
Chesapeake A Ohio
Colorado F. I., c. . .
Colorado Southern, c...
Consolidated Uaa
Corn 1'roducta, e
Corn Products, pf
Delaware a Hodaon...,
Denrer ft R. O., e
Denrer ft K. (1., pf....
Erie,
Krle. 2d uf
Krle, 1st pf
General Rlectrlc
U. Northern, ore lands
O. Northern, pf
Ire Securities
Illinola Central .......
Int. Harvester . . . .
Int. Metropolitan, e....
Int. Metropolitan, pf . .
I-ehlgh Valley
Kaunas City Southern..
Mexican Petroleum
Louisville A Nashville.
M., K. ft T., 0..
M., K. ft T., pf......
Mlrsonrl l'aotflo
National Lead
Nevada Oonaollda ted . .
New Haven
New York Central....
N.. Y. O. & W
Norfolk ft Western, e
Northern Pacific, e..
Pacific Mall 8. B. Co.
Pennsylvania Railway.
P. O., L. C. Co..
Pressed Hteel Car, e..
Pressed Bteel Car, pf . .
Kay Con. Copper
120
34
88
87
217H
Ileadlni. 1st Pf
Republic I. 8., e....
Republic I. 8., pf....
Rock Island, e
Rock Island, pf
St. L. ft 8. F., 2d f. .
Bt. L. ft S. F., 1st pf...
southern Pacific, c...
Southern Railway, c...
southern Hallway, pf..
Tenn. Copper ..........
Texas, ft I'sclfle. ...... .
T.. M. L. ft W., e....
Union Pacific, ,..,,. i.
Jr. 8, Rubber, e..;.,,..
r. 8. Hteel Co., c...
ilata Copper ..........
Virginia Chemical .....
Wabash, e.' ...........
W. ; U. Tslegrsph......
WeStlnghmne Electric. .
44 14
138
120 '4
101
60 V
162
ra
44
134
20
if.
S3
70
03 (
103
108 H
iosii
117
71
44
20
88
3714
20
17
62
124
84 T4
04H
88.
23 V,
80
7
218
20
2H
100
izn
8K
t8-
129
8
83
161
28 28 28V4
44
130
IS
126
71
43
23
87
37
28
108
62
120
84
82
23
80
87
217
20
27
100
125
H7
68
83
87
22
TO
12
164
00
08
48
25
4
I4
Tl
83
104
10U
ft
100
119
17
165
83
20
31
88
22
75
30
12
1SS
00 .
8S
4s
108
U8
108
117
lift
28
ss
30 W
2Mi
108
62
88
122
84
10
v
88
82
23
80
87
218
81
11
zs
100
120
87
08
28
27
iw
63
161
17
2H
U5
44
1.1s
H.'l
126
it
103
101
14
09
102
4
44
188
83
20
SB
6T
8TEERS
Section. No. Are. lhs. Price.
Idaho 23 1077 $7.25 .
Oregon HO 082 6.75
Oregon 24 11S9 T.5.11
Oregon 10 1240 7.50
Oregon 7 1847 7 00
Oregon 15 1041 &S0
HOGS
Oregon 79 211 $7.90 ,
Idaho 107 10S T.80
Oregon 113 HVi 7.90'
Idaho 102 Kil 7.8.1,
Idaho 80 105 7.83'
Idaho 86 173 7.8-11
Idaho 1 810 7.40,
Idaho 1 2S0 7.40 .
Idaho 1 200 7.001
Idaho 4 203 6.90 1
Idaho 2 itti) 6.90'
Idaho 1 450 6.851
Idaho rt. 8 848 6.85 ,
Idaho 8 280 6.85 "
(Continued on Following Page)
J.C. WILSON & CO.
ISXIXBEItS
NEW YORK 8TOCK EXCHANOB !
NEW YORK COTTON EXCHANQH 1
CHICAGO BOARD OF TRADE
THE STOCK AND BOND EXCHANQBl
SAN FRANCISCO 1
PORTLAND OFFICE 1
B69 Oak St., Ground Floor, Lewis Bldg, '
Phones Marshall 4180. A -4187. I
a
TRANSPORTATION
ilU 1 U ttw mi.ni wmtrtZ
V Khlov snraata a vImt ff
SAILINGS
Every
Saturday
as as Iras
NewYork
Glasgow
ThaonlvQIaa
liKF
Nam YORK
it WOMtSsBfl' sVtVa,
Smm hlL m. ,k.
World's asm wsndara. anil m AmwHtAA trim .1
"Mtotsria Hsssm " without eha-m ot asm. ajitrlaal
tClaasawvlattsXn as ar r ClrsaT ""
Asw. Lore, Modern. TuHn-Scme Steam
Cameronia, CtUIornla, Caledonia, Colombia
TUSCANIA, 14,000 tens, (Building)
Wb-W TihtiiV sad Bis iMk
nra-rkwIloMjs, . Umuws. Snukimar RMaaa, OrclMaM. X
'- nil IT afaliln.
foaWBiMts TOnl CUm Fufly F-nlihst-Uw Ktlss ,
r' f His nil. I sail I naisiaai. '
RCCORD PAaSAQg, PAYS, It HOUNS
Mediterranean Service from NewYork .
First Cabin paaaagt to lap!. $68 and op.
Third Cla at VerylowRiloa.
r '" Orttm Payable Free e Charge '
'lNksTora,bla,a,slr
MSMsaas m. .
i mim I i i ! I . ? " m " . vn-t Mfvniv
.. ...km sinviii wr. mnsra, vn
X. H. V-IJ8-R0, 11 lit Are., aaattle. Wash. ;
COOS kS A VL.IINlc,
' SteamhiD BrMkwni. .
talis from Alusworta dock, rertland. at I
. m., vrr Xuvsdar evaoluc. 'relht ra. '
ld until 12 o-cks-a nooo ialluVoa
laaseacsr - tart: Kim class flu, second class
(awn puljr) 7, indDdlng berth and meals. Tlc
tt office at Lower Aluswortb docs. Portland A ,
A--333. In li, Keating, Agsat, - 1
, (Continued , on ;, Following- Page) :
TetL sales U3,00 sliares.
. i'
,- v ;
'1-
liable. . .. . , . , ;.. . Tv i