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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Oct. 18, 1914)
X "J r .JEW' i-lTKi. "i . . . .. - : ' - 1 ".. 1 x tiE OREGON SUNDAY JOURNAL, PORTLAND, SUNDAY MORNING, OCTOBER 18, 1914, PRICE OF WHEAT STILL CLIMBING AT ALL CENTERS GENERAL BUSJESSNEb Edited by Hyman H. Cohen. WHEAT MARKET HAS EXCITING WEEK IN THE WORLD'S TRADE IS BIG BULL MARKET Sharp Advance in Prices o Wheat Has . L FEELING IS H AXTElNJXIOiM ! About $12,000,000 to Wheat , Groyei FOR WHEAT CAUSES SHARP PRICE BOOST GOOD IN THE MARKET FOR STOCK IN YARDS of the Noryiwest VERY LOW PRICE WOOLGROWERS HAVE GOODOUTL( BUSINESS GENERA SHOWN HOPS AT ETerywhwe the Market Is Firmer and Kharply Higher in Price; Europe Is Insistent in Demand for Additional Supplies. Wheat prices were advanced sharply at all world' centers during- the week, fully confirming recent forecasts made In taese reports. All foreign markets were sharply higher, and there was a greater demand from all centers than has heretofore appeared during even the present exciting iseason. Kngland and France were extensive bidders for wheat at sharply advanced quotations during the week, and a num ber of cargoes were reported sold, both on the Pacific and Atlantic coasts, for those accounts. The position of the wheat market price continues to show an improve ment, and it cannot be seen at this time that the crest of values has by any means been reached. As long as the Russian crop Is tlei tip, there is not the slightest chance for any diminishing of the strength of the market. There is no indications that these shipments will be released at any early date, and, even i' they were, it is a big qeustion if the world's supply Is not short enough to absorb them without more than passu.g im pression .upon the price. The lark of sufficient ships at this time. Is all that is keeping the wheat market priee.from running .away and reaching the highest uoqtation on rec ord. There is justification for such price, and has been since the season started. Great strength is also shown in the market for oats at times. While it ia true that strenuous efforts have been made by some parties to hold the daU price in check, it will creep upward onre in aw hlle. desuite these efforts. Barley market was steady to strong er and higher in spots during the week. CLOVER KKD No. 1. recleaned. IS'SlSc: ordinary, llV412c pound; alsike, 11c pound. FLOUR Helling price: Patent, 15.40; Willamette valley. $5.40; local straight. $4.(104.60; export, straight, $4; cutoff. $4.20; bakers $5.00if 5.40. HAY New crop, producers' price: Willamette valley timothy, fancy; $12.60; eastern Oregon-Idaho fancy timothy. $ir..t0W1B.K0; alfalfa, $13.50: vetch and oats, $9.00 10.00; clover, $8 per ton. GRAIN BAGS Nonjinal; No. 1 Cal cutta, $8.25 fli8.n0. Merchants exchange official prices for the week: WHEAT. -Bid Price Sit. r.lueKtem Frl. Tburs. Wod, Taos. $1.02 my, .06 .00 .93 f 1.00 rortyfold .$1.04 antv $1.01 Reel Kurnlsn . Hint Klfe .00 Fred $25.50 reed $21.00 Bre win $22.00 Bran $23.00 Minrts $23.00 $1.05 $1.01 .03 $1.02 $l.u $1.02 .00 4 .07 an OATS. .92 $25.7.1 $21.00 HA RLKV. $21. M) $20.00 $22. V $21 On MIL.LSTUKF8. $22.00 $22.00 $23.50 $23.00 $2o.00 $2Ti.00 $20.50 $21.50 $22.50 $23.00 $21.00 $21.00 $22.00 $23.00 WOOL MARKET IS BETTER Boston Trade Is Helped by Recent Embargo; Price Are ,1 to 3c Per Pound Higher. Boston, Mass., Oct. 17. Local wool conditions have quieted somewhat since tht close of the London sale. Vet, the firmness continues and the whole of the advance caused by the announcement of the embargo has been held. Somewhat exaggerated Ideas of the value of the matter to Boston's wool trad have been ex pressed, but one does not have to go far among the wool houses to find that real benefit has resulted. Prices are materially higher, some wool men saying that values have advanced 1 to 3 cents a grease poundl Total salos for the week have been larger, than those for the preceding v eek. estimated as exceeding 4,000.000 pounds. Foreign wools have figured largely In the transfer for the week, with something of a clean-up in for eign crossbreds. Interest now centers in the foreign situation. Advices from abroad in dicate a much more confident tone in England and the colonics among both wool men and manufacturers. In gen eral the feeling may be said to be vastly improved. First among the in dications may be noted the decision of the London brokers to proceed with the London sales. Short sales must of necessity he held, but they are to be held with reasonable frequency. Dates now announced are November 3 and December 8, 1914, and January 1!. 1915. In the first of the series all arrivals up to October 30 will be Included, in the December series all arrivals to November 30. No limit has yet been fixed for the January fale. Denver Sheep Steady. Tener. Colo.. Oct. 17. Cattle, 50; steers, $1.00tl.50; rows ami heifer. fi.00ftrtt.30; mockers and feeders,. $tj.00ff:7. 23: calves, $8.00 ft 1O.0O. Hoaja, none. Sheep, 11.000: market steady; lamb. $6.50 7.25; ewn, $4.2.Vi-l.75. STEEL TRADE Pittsburg, Pa., Oct. 17. The steel trade fails to gain ground. Steel pro duction and shipments are not over 60 per cent of capacity, while actual shipping orders received are at a con siderably less rate than this. As there is not much of an accumulation of business on books, it is expected that mills will curtail production further ir. the next few weeks. Producers ad mit frankly that there is every pros pect that steel mill operations will Jrop to a lower percentage of capac ity than ever before in the recent his tory of the steel Industry. This vir tually extends back only to the ex eremely poor year 1896, for prior to that time much of the product was iron rather than steel. Comparisons with 1896, as a matter of fact, have now become quite com mon, for until 1914 nothing like the AMERICAN GOODS FAVORED Bahia. Brazil. Oct 17. Interest of Bahia importers in goods manufac tured in the United States has in creased greatly in the last few years. Aside from such American mede ar ticle as sewing machines, typewrit ers, shoes, photographic apparatus phonographs and office furniture linea in which the northern makers have no serious rivals the Brazilian buyer of goods from other countries has became convinced mostly by a practical demonstration of the serviceability- of United States machinery, Balk of Week Trade in Good Stock in Willamette Valley Is Around 10c Per Ponnd; Brewers Can Purchase Almost at Own Price. Heavy business was shown In the hop market at Willamette valley points all through the week. While sales were probably no greater than during the similar period of other years, the taking were heavy and somewhat un expected, in view of the financial stringency. Prices showed a further loss gener ally during the week, with the bulk of the sales' of best ualiqty around 10c a pound. Growers showed much more disposition to unload than for many years, and even at the extremely low values there are two sellers in sight at this time for every order in sight. To some extent the weakness here is due to this fact. As long as growers are willing to dump their hops for any old price that brewers are willing to give, the latter are naturally not go ing to show any disposition to pay higher prices. In fact, the more eager growers have been to dispose of their holdings the lower went the price. Practically nine tenths of the hop business reported In the world during the last 10 days has been in the Wil lamette valley. Hops are far cheaper here and in Takima than in any other part of the world. Prices here are far below the standard set for the cneaper quality New York hops, and are likely to remaj.n so as long as Oregon pro ducers overfeed the wants of the trade. Only Best Apples Are Now Wanted President Davidson of Distributors Says Much of Crop Will Prove a Loss. Hood River, Or., Oct. 17. H. F. Da vidson, president of the North Pacific Fruit Distributors, accompanied by his family, loft last night for the east, where Mr. Davidson will have charge of the Distributors business for the season on the Atlantic seaboard, at tending to eastern shipments and ex port trade. Mr. Davidson said: "I will make headquarters in New York city. I will stop over one day in southern Idaho, en route, to look over some of the fruit interests. I will also stop over In Omaha and Chicago, to take up the matter of trade extension work with our representatives in these cities. Just what effect the disturbances in Eu rope will have on our export business remains to be seen. Our export trade with Africa. South America and Eu rope will have special attention. 'During the past few weeks, the apple market has been the lowest that I have ever seen at tbe beginning of the harvest season. This condition has discouraged many growers in the har vesting of their fruit and hundreds of carloads will be left on the trees un picked and hundreds of carloads ol the lower grades will remain unpicked and unpacked. Only the best fruit is worth sending to distant markets this year. My impression is that we are how Beeing the worst part of the sea son. My observations have been that as a rule high prices for apples in the fall are conducive to a low con sumption and heavy losses in the spring; when lower prices rule in the fall it means a correspondingly heavy consumption in the early part of the season and better conditions as the season advances. This season may be an exception to the rule, however, on account of the war situation and the generally depressed conditions. "Up to the present time exports from the Atlantic seaboard have been heav ier than in former years on correspond ing dates. This is due to the fact that the season is practically two weeks in advance of former years; prices are very low and growers are willing to take a chance by sending them abroad. Last year the ruling price abroad was from 8 to 12 shillings; this year prices rule from 6 to 8 shillings, which means practically $1.00 per box less than last year. Ocean freights are from 10 to 20 per cent higher than last year, which is also operating heavily against the growers. "The districts of the northwest that produce a large per cent of the crop that grades below extra fancy and fancy will hardly be able to net suf ficient to pay the actual cost of pro ducing and harvesting. It is only those districts that produce a large per cent of high grade and quality that will make any money out of their crops; this applies also to growers in the best fruit districts who do not take the proper care of their orchards and who are careless in the handling of their crops." FRUIT TRADE IS QUIET Walla Walla, Wash.; Oct. 17. Little activity has been manifested in the fruit market locally the past week, the growers applying themselves to hand ling the commercial apples that now are ready for marketing. The yield is large, and the local fruit agencies have been kept more than busv caring f6r the thousands of boxes brought in during the past six days. Liverpool Wheat Higher. Liverpool, Oct. 17. Wheat closed Id higher. Wheat Cargoes Advanced. London, Oct. 17. Wheat cargoes on passage very firm, 6d higher. VERY NARROW stagnation of that year had been seen. In 1904, there was really a fair vol ume of business, and In t908. another very lean year, there was business placed steadily from week to week. In both years prices realized were much higher than at present, being maintained by agreement more or less fully expressed, and the increasing cost of production, due . to slack op eration, did not fall so heaviry udou the mills. It is to be observed, however, that the present market is by no means a strongly competitive one. There is very Jlttle price cutting, practically none by the large mills, and not much by the small mills. The cost cuts no figure with the buyer, who places or ders only against absolute require ments, and irrespective entirely of what the market prospects may be. tools. Iron and steel ware and-tectrio-al equipment of all kinds. As Bahia now has two of Its princi pal public utility services equipped with materials from the United States their use has greatly increased con fidence in other articles of northern manufacture. The tramway section is entirely American, the power house installation, the rails and the open trolley cars all being products of northern factories. The newly in stalled telephone service also Is Amer ican in construction and outfit. United States Is In Good Position to Get a Big Trade South America Looking to Fs for Needs Just as Much as We Look to Them. By George B. Cortelyou. Formerly Secretary of Treasury. The immediate effect of the Euro pean war is, of course, to disarrange the industries and the finances of the entire world, but this country Is in a better position than any other to take advantage of the trade opportunities that will open 'up as soon as the war is ended. It Is reasonable to assume that the belligerent nations will be prostrated, so far as general indufi trial activity is concerned, as a result of the struggles they have gone through, and it is to us th.V will look for the means to set the wheels of commerce turning again. In the meantime, while the conflict Is going on, our reserves of foodstuffs and manufactured articles will be drawn upon by the warring nations to supply their vital needs, so that while in dustry In general feels the paralyzing effect of war there are special indus tries that benefit. But it is to "the other neutral coun tries, especially those to the south of us, that we must look for the greatest opportunities of trade expansion at the present time. These, having been cut off largely from their usual source of supply, will naturally turn to us as the greatest producing nation not in volved in the war, to meet the de ficiency. They are looking for us quite as much as we are looking for them. With proper cooperation, our mer chants and manufacturers would have little difficulty in securing much of their trade; but the real test will come when the war is over can we hold the trade in the face of the determined competition that will be sure to come? If established on broad and sound foundations now, I believe we can. I believe that the enterprise of our peo ple, if rightly directed and properly supported with a fair field and no favor can still hold Its own against the world. So I do not think this Is a time for despair, but rather for fresh efforts to push ahead Into new fields as well as tor tne development of old ones, that we may rise to our opportunities and lay the foundations of an endur ing prosperity. Least of all do I think this is a time for the abatement of publicity efforts; indeed, .these should be redoubled now. because if advertising increases de mand and stimulates production, this is the time to advertise; and the mer chant or manufacturer who keeps his product prominently before the pub lic now Is not only proving his faith in the soundness and strength of Ameri can industry and thus setting a goo) example to his more timid brother, but Is certain to reap an ample reward in the njaterial returns that will coma to him. FOREIGN CROP ADVICES Spain Weather is very dry and un favorable for new seeding. Buying of foreign wheat liberal, taking advantage of the suspension of import duty. rtussiaw earner is unsettled witn rain in European Russia and otherwise seeding is delayed and much that has not already been stored Is being dam aged. Harvesting of spring is finished with the yield satisfactory. Hungary Scarcity of wheat is now acute as supplies cannot be obtained either from Fiume or Trieste. Australia Private reports show a yield as low as 25,000,000 bushels against 100,000,000 bushels last year. Last year the exportable surplus was 57,000,00 bushels and this year the amount will be insignificant. Argentine Latest revised official acreage planted to wheat Is placed at 15,477,00 acres against 16,232,000 last year. Poor quality of seed and early dryness were not conducive of a good yield. Winnipeg Wheat Is Up. . .Winnipeg, Oct. 17. Wheat closed lc higher. THE WAYS TJTSTEAXJ OP COMPKTITIOW, CO OFXBATZOH. (By John Boulter, Chicago Manager National Mutual Alliance. Copy righted, 1914, American Society for Thrift.) The plan of the National Mutual Al liance is somewhat similar to the co operative movement established in 1844 by 28 weavers of Rochdale, Eng land. Following the plans of the Roch dale weavers so many co-operative societies were established that ln 1864 those societies combined and incor porated a wholesale and manufactur ing society, known as tbe Co-operative Wholesale society. This society, whose headquarters are in Manchester, Eng land, operates branches, depots and warehouses at Newcastle-on-Tyne, Bristol, Liverpool and London, with sale and sample rooms at Notting ham, Blackburn, Huddersfield, Bir mingham. Northampton. Cardiff and other places in England and Wales. The Co-operative Wholesale society carries on business as wholesale deal ers, bankers, manufacturers, mer chants, shippers, carriers, insurance and in all other lines of business not excluded, by special legislative acts, such as life insurance. The members of the Go-operative Wholesale society are the retail co-operative societies by whom the capital is suoolied. There is also in England another wholesale co-operative; society nd Ja tbe British TUESDAY OCTOBER 20 WTOML Brief Reviews of Produce Trade in The Last 6 Days Chickens Show Sharp Slump With Greater Receipts; Meats Are Down Too. Chicken prices showed another bad break for the weeK. Increasing re ceipts were shown during the neriod and cleanups were forced at lower prices generally. Egg market was generally steady for the week, there being practically no change in the price. Receipts of ranch eggs were Just about equal to the demand. ' Trade in cold storage slock is neavier. Country killed meats wprp wnlr and sharply lower in the Front street iraue. tsoin veais ana nogs suffered from the over supply. Hogs sold down to 9c for extreme tops, while uesi veais were generally at 11 W 12c for best. Potato trade ruled weak with littl business shown in the wholesale trade No demand is shown from the outside and local supplies are big. Onions continued, weak here and eisewnere in the Pacific northwest. Growers are generally offering their stated that the California acreage is mtitdseu ujr iuuu acres. Butter market showed weakness and it is safe to say that the bulk of the sales of creamery were made at a loss of lc a pound from last week, al though list prices of some of the city creameries remained unchanged. JOBHLNti PKICESOP POiilLAND These prices are those st which wholesalers 'U eallr"- except as otherwise stated: BUTTER Nominal Willamette Talley creaml ery, cnbes, selling price. 32c: state prints. 3233c; ranch better, 1820e; dtr crcaml ery. 34 35c. BOTTKH FAT No. 1, Portland denvery, EGGS Nearby, freshly gathered 85c can dled, local, extras, white 3334c; case count, buying f. o. b. Portland, 30c; eastern, "fresh " 29e dozen. ' VEJP0.T:rljT5lTHeni"- n12c: broilers, llHc; ducks, Pekln, 1315c; colored, loa 12c; tnrkeys, 18lic; dressed, (); pigeons. $11.25; squabs. $2.25(g2.40 doa..- geeae? 10? JACK RABBITS Fancy dressed. fl.fiOQ 4.75 dozen. CHEESE Nominal. Fresh Oregon, fancy fall cream twins and triplets, 16c; Tonng Amer ica. 17c Fruit sad Vegetables. FRESH FRUIT Oranges. $2.50(83.00; ba nanas, 4c lb.; lemons. 5.006.00; limes $1.00 per 100; grapefruit, $4.50fl per ease; Elneapples, 7c pound; peaches, 405Oc; canta rapes, Jlfel.25; watermelons. 90c$l 00 eaaabas, $1.00 crate; pears, 75c$lJK; Tokor grapes, $1.00 crate, " ltAPPLES 50ci$1.7S box, according to qual- VRAnrrAm.irstTWnn at . -. ... carrots, $1.25; parsnips. $11.25 sack, cab bage, $1; tomatoes, 60c lug; green onions, lOfcilSc per dozen bundles; peppers, bell 66c; head lettuce, 75c doaen. celery, 60a 85c dozen; egg plant, 7c; cauliflower, 85cQ $1.25 doa.; French artichokes, 8590c dozT; string beans 67c; cucumbers, hothouse, 40c, outdoor. 204 25c dozen; green corn, 756 1.00 sack; cranberries, eastern, 8 bbl.. local, $3.50 box; peas, 10c; sprouts, 8ftj9c pound. ONIONS Local, 85c$L15; California, 85c rsrlic, 17e. POTATOES Selling price. Extra choice. (1.00(21.25 per cental; sweets. $2.00. Hops, Wool and Hidea , HOPS Buying price, cnoice, 10ai0c; prime, 99c; medium to prime, !te; medium. 78p pound. CfiiTTlM OR CASCARA BARS Car lota. 4c; less than car lots, 4c MOHAIR 1914 27 4 27 V4. WOOLNomlnal, 1914 clip; Willamette val ley coarse CoUwold. l?fee: medium Shrop shire, IShic; choice fancy lots, 10Q2OC lb.; eastern Oregon. 1420c; according to shrink age. HIDES Dry hides, 25c lb.; green, 12c; salted hides, 13c; bulls, green salt. 9c kips, IS 14c; calres, dry, 25c; calf skins salted or green, 18Q30e; green bides, Ir less than salted; sheep pelts, salted, shearings 1025c; dry, 10c ' TALLOW No. 1, 4544c; No. 2, 49 4Hc; greese. 84c. Heats, Fish and Pro via ion. DRESSED MEATS Selling price Country killed; bogs, fancy, 9c; ordinary, 8&8Hc; rough and heavy, 77se; fancy veals, 12c; OF THRIFT Isles about 1500 distributive. 120 pro ductive and 10 special! co-operative societies, the latter adapted to insur ance allotments and small holdings, motor service, cottage building and so forth. The membership is upwards of 2,500,000. representing approximately 10.000,000 consumers. The capital is between $150,000,000 and $175,000,000, annual sales between $500,000,000 and $600,000,000, and according to official reports of late date, after paying all expenses of management and adding upwards of $1,100,000 to sinking or reserve fund (which now amounts to upwards of $20,000,000) ; and paying upwards of $7,000,000 for interest on share capital nearly $60,000,000 was paid in dividends pro rata on pur chases. In the same year the official report of one of the distributive so cieties with between 9000 and 10,000 members located In a town of about 40,000 inhablants saved (paid ln di vidends) to its members (the "ulti mate consumers,") upwards f $21,000 on meat, upwards of $16,000 on coal, nearly $110,000 on groceries, which together with savings on dry goods, boots and shoes, etc., amounted to be tween $175,000 and $180,000 In one year, and in the year referred to busi ness was generally depressed. The two wholesale societies own and op erate sixty odd factories, warehouses and depots, own tea plantations, also own and operate steamships for trans portation purposes. Chicago Quotations Are to lc Up; Foreign Trade Influences the Trend of Values With Good Sales Reported for Export Business. ; Chicago, Oct. 17. The greatest bull market of the week was In order for the short Saturday session and prices were advanced to 114 for December. May contracts showed the greatest gain and were c higher at the open ing. The range for the day was from 119 to 120 and the close only a frac tion under the top. Liverpool was one penny higher. The Australian and Argentine news was bullish. The trade had frequent ru mors of active export transactions from New York, Winnipeg, Duluth and the Gulf. At the Gulf cash business was given at- 220,000 bushels, chiefly to exporters. The falling off in the Primary receipts from nearly 20,000, ??,x,r,unels fIve week ago to less than 11.000,00a bushels thrs week and pros pects of further decrease in the move ment the drop in receipts for the week to 1.000 cars compared with 8000 or over the same week last year, the buy ing of wheat at Minneapolis by Duluth exporters, Kansas City reports that ta bles were all cleaned up at higher prices for the cash wheat and a most serious war outlook abroad, were all bullish features. For the Saturday session, corn pnees made the strongest upturn for tne week. Wet weather continues over much of the belt. Many sections west of the river are sending in complaints or damage to corn on low lands. St. Louis reported Missouri points send ing buying orders today. The country is not selling either old or new corn a,s exDected and instead there is a no ticeable increase in. investment or speculative buying orders in this mar net. La-balle street leaders and big commission houses were buying the first hour, while some of the leading Dears in the trade were covering good sized lines. " nKTn? its market olosed at the top. 3h!LV"ade.wa8 helPe1 by the action in wheat and corn. There was a revised Canadian report in circulation reduc- ifiooo innKts wy,,c,i of tnat ntry 16,000,000 bushels from previous fig- a . e "aae had a rumor that Australian buyers were after oats at on nnnabKarcl ,Cash business here was mt? bushels to 300.000 bushels, mostly to exporters. Action in provision prices for the ' 1 .? ncLa unimportant. KJn5jl ot. ChUgo prices, furnished by Overbeck & Cooke company. M6-17 Board of T.ade building- WHEAT. Month Deo. . May . rec. , May . Open. High. 113 11914 1204 CORN. - . 67V hum 9li 70-j OATS. Clrme. B 70i B 119 R7 Dec. 4S 4914 4Kit 40t, A 61 Ll &2'4 A PORK. I860 1867 1S00 1867 LAIU). 1040 B 1000 1002 992 (7 A BIBS. IW0 A '0 875 967 872 B Oct. Oct. Jan. GOOD WHEAT WEATHER Walla Walla, Wash, Oct. 17. More ideal weather during the past week, with frequent rains during the first three days and warm temperatures the last three days, have put the soil in perfect condition for fall seeding operations, and those farmers who have completed the task say that they will set a good stand before real cold weather sets in. Fall seeding has pro gressed rapidly, and plowing is un der way in some parts of the county, with indications that the wheat men will not be forced to lay off because of unfavorable weather for some time to come. ordinary, 10c; poor. 7Q8c; goats, 8Q4c spring lambs, 10c. me. HAMS, BACON. ETC Hams. 17i4Q21c breakfast bacon, 20430c; boued bain 2cr picmcs. 14c; cottage, 17 c ' MEATS Packing house Steers, No. 1 stock 12c; cows. No. 1 stock, lie; ewes, lOc; weth ers, llVic; lambs, 12jc; pork loins, 18c dressed hogs, 12c. Oi'STEKS Olympla, per gallon. $3 75 canned eastern, 55c can; $0.50 ton; eastern la shell, $1.75Q2.00 per 100; razor clama. $2.0Og2-25 box ; pastern ojaters, per gallun. solid pack. $3.503.75. K1SH Dressed flounders. 7c; chlnook sal mon, 68; silver side, 6c; perch, 66Z8c lb -lobsters, 25c lb.; silver smelt, 8c: salmon trout. 18c -wa LARD Tierces, 12c; compound, tierces. 11c. CRABS Large, $1.50: medium. $LO0 doa. Groceries. SUGAR Cube, $7.15; powdered, $7.06; fruit or berry, $7.05; beet. $.60; dry granulated. $6.80; D yellow. $0.10. CAbove quotations are ISO days net cash.) RICE Japan style. No. 1. 55e; New Orleans, head. 7f 7 Vic; Creole, 5.c. HONEY. New, $3.2583.60 per case. BEANS Small white. 4c; large white. Vtc; pink. 6c; limaa. be; bayoo. 8c, red SALT Coarse, half grounds, 100s, $10 oer ton; 50s, $10.75; table dairy, 60s. $18; 1m $17.50; bales. $2.25; extra fine barrels. 2a 5s and lUs. $5.250.OU; lump rock. $2.50 per ton. , Paints and Oils. LINSEED OIL Raw, bbls., 87c per gal kettle boiled, bbl.. S9c; raw. cases. ?2c; boiled, case s,74c gaL; lota of 250 gallons, lc less; oil cake meal, $44 per ton. WHITE LEAD Ton lots. 7VjC per lb.; 600 lb. lots, 74 per lb.; less lots, 8c per lb. OIL MEAL Carload lota, $34. TURPENTINE In cases. 67c; tanks, 60c per gallon. COAL OIL Water white on drama, and Iron barrels. 10c. HIGH WHEAT "A decline in wheat prices." writes the Lrfmdon Statist, "is hardly prob able while the United States and Can ada remain the only shippers of im portance. There is no doubt that In dia will ship much more wheat at the higher prices now ruling, and likely to rule, than would otherwise have been the case, but the last crop was considerably smaller than Ln either of the past four years, and the sur plus for export is only a moderate one. There is very little wheat left in Ar gentina, and, moreover, exports from that country have been prohibited; Australia has only a moderate surplus now left, and is holding same for very high prices. "The Roumanian crop has proved to be a very disappointing one, and the HOME EMBROIDERY IS AIDED New York, Oct. 17. The European war, which has entirely crippled the import embroidery trade, is having a remarkable effect on the domestic ar ticle, which, heretofore, ' has been largely neglected by tJie women's un derwear and knit goods manufactur ers. Those manufacturers are now forced to use the American machine made article because there is noth ing else in the market. Local embroidery makers are work ' Hoes Show Onlv TatIt nt Knnn onrt Even These Are Practically Un. changed in Price; Select Steers Showing Demand at Present, 1 PORTLAND LIVESTOCK RUN Weekending Hosts Cat tie Calves sheen October 17.. 3037 1515 68 8199 October 10.. 54.14 976 161 690 r 6931 I 1 5 1 ; uctoDex 3... 4950 Sept 26 4604 Sept. 19 35go Year ago ...3507 2 years ago .3633 3 years ago .2588 1853 1733 1393 2000 1268 1420 124 30 58 413 53 102 " 58S0 3457 Hog market showed practically no change in price at North Portland for the week compared with' the trade at the closing of last week. A Bmart decrease In the run as compared with last week failed to have the slightest Influence upon prices, although there was somewhat better buying by kil lers. Hog market situation throughout country has been rather weak of late. For awhile it was believed that the bottom of the price ladder had been reached, but further" sharp declines were forced and the outlook at tfce moment is scarcely promising. General hog market. Best light $ 7.50 Medium light - 7.46 Good and heavv 7.107.25 Rough and heavy 6.00 7.00 Steer Demand Is Better. An improvement of fully 15c was shown in the market for cattle and it'.. .l uei n was a heavier run, than the small 1 "" "'e'D showing of a week ago. but the totals Apple Agitation Xa Aid. of -recent weeks were not reached. A citat ion of various commercial in SrdrUf tneStrlJe01 but the general market offerings rose no higher than $7.15 for s-ood stuff. The market, while somewhat 20, In a fitting manner, has already re improved for all cattle, was better suited in much good to th Industry, for steers than other offerings. Kil- '-tk. i- k.fwi. v.... lers hold 'practically n surplus of C1 Safely Passed, steers although holdings of cows are The usual monthly statement of the rather liberal. ! foreign commerce of the country is- Very little change is shown In the ; . HnHns- the week shows a tre cattle market situation at points east ued dnrl"ff H1 Z,t. AT of the Rockies and values are gener- . mendous drop in exports during Aug ally maintained. ust. The total for the month was General cattle market range: $110,369,240 as compared with $187,"- Selected steers $7.007.25 j 909,020 in August. 1913. Good to choice 6.76(0 6.90 j SMprnpnt8 of crude materials for use tjooa to cnoice 6.6a : . i Orrlinarv to fair K 7K JrSest COWS Good to prime ......... Ordinary 5 Sfiro)fi oo Selected calves f. us -rXSSrig Mutton Market' Holding. ' (Partly or wholly manufactured. 6 While little stuff was available good million or 21 per cent. The only gain enough to bring extreme prices in the was made In foodstuffs. In crude con mutton trade during the week, there dition and food animals, the exports was a generally steady to strong tone ; ln tnja group for the month being 2 rUxfre was a very liberal run in the ; million doHars or yards during the week, but little came cess of the same month a year ago. forward to the open market. Most of Exports to Europe in August were the offerings were either feeders or ; r.8 million dollars or 64 per cent less were direct shipments to local killers. than in August, 1913; to North Amer General sheep trade conditions'. . , .,n s l n for the week, with net nrire chaiered comparatively nmnea. , General mutton market: Best yearlings $5.405.50 Old wethers 5.26 5.40 Best ewes 4.350 4.60 Best east mountain lambs.. 5.906.00 Valley light young lambs.. 5.65 5.85 Heavy spVing lambs 6.00 J5.50 Omaha Hogs Lower. R"uth Omaha, 0-t. 17. Cattle, none. Hogs. 3.WO: market Fteady to 5c lower; bulk. $7.10W7.35; tops, $7.45. Sbep, none. Kansas City Hogs Down. Kansas Ciiy. Mo.. Oct. 17. Hogs, market K)c lower; top. $7.90. Cattle, 200; market steady. Sheep, none; market steady to strong. 1000; APPLE CROP IS SMALLER Ridgefield, Wash.. Oct. 17. Accord ing to reports coming in from this section of Clarke county, the apple crop is not up to the standard. In some cases there Is only half a crop although the fruit is larger than usual and of good flavor. New acre ages have made a good showing in some of the districts, and the suc cess of the rew varieties is being closely watched. Kail plowing is now on in full blast and fall wheat will soon be panted. The ground is in good shape with renty of moisture from the recent heavy rains. Potato harvesting with the good weather of the past few days has pro gressed and although this crop is not up to the standard owing to the pro longed dry spell earlied in the year, the yield is fairly good and the po tatoes are of a fine quality. Dissolution Decree Of New Haven Fileff Railroad and its Steamship Zdnes Farted by Order of Court on Terms Previously Agreed Upon, New York. Oct. 17.-A decree for the dissolution of the New York, New Haven and Hartford railroad and the steamship lines It controls was filed ln the United States circuit court here today. The terms of the disso lution were previously agreed upon. IS EXPECTED quantity of wheat available for ex port is smaller than for years past. The only country, apart from the United States and Canada, In a posi tion to export a considerable quantity of wheat during the next four or five months Is Russia. At present Rus sia is not exporting, mainly, no doubt, owing to fears that there may be trouble with Turker. in which case the Straits of the Dardanelles would be closed, while shipments cannot take place from the. Baltic, as the German fleet would prevent same. "If. however, Russia were suddenly to come out as an exporter in quan tity, the effect of the competition would probably be that America would be more disposed to meet buyers, and this might result in a decline, if only temporarily, in prices." ing their factories at full speed to sup ply the demand, and many of them are placing orders for additional ma chines. Now that many underwear manu facturers have had a chance to show buyers their lines finished with do mestic embroidery, the fears they had that machine made laces and embroid ery wonld not pass muster seem tl have been premature and ill founded. Buyers have expressed themselves en tirely satisfieid with the American article.. Wheat growers of the Padfle nerth- west are in pocket some 112,000,000 more money than would nave been possible- had they sold their wheat at the opening of the season. This huge i sum ha" been to the price of I close to 6o.000,do0 bushels of wheat ;in Oregon, Idaho and "Washington. Only !a very maU Per cent of the wheat ' Kown this season was sold prior to the sharp advances in the price. Wheat selling has been quite fair recently and farmers are therefore paying off all of their indebtedness and have I money to spare. There is no doubt . V- . i . . 1 - that the war in Europe has been very big Influence in forcing the price of wheat upward, but one of the chief considerations has been the smaller world's crop than expected. Wool Outlook Pavorabla. The outlook for wool growers at Pacific northwest points is even more hopeful than the excellent season of 1914. World's stocks of wool were not only smaller (the last season than nor mal, but there was a far more ex tensive demand, due to war conditions. Almost every day leading American woolen interests are in receipt of orders or bids for supplies from Eu rope and this has speeded up the In dustry so 'that many of the leading mills of the country are operating both ! day and night. Pacific northwest mills have been benefited both directly ana Indirectly by these conditions. Thw is every prospect that the next clip of wool of the Pacific northwest will the trade with practically no i . . I th Lnle Z "wers ' TeCt.n : ald the aPPle growers by colelwatin to National apple day, Tuesday, Oober " inaiiuisuiuiiug icn ' dollars, or 65 per cent; of manufac 5.765.85 tures for further use in manufactur 5.2505.50 ing, 18 million or 53 per cent; manu- facturcs ready for consumption, 3Z million or BO per cent, and foodstuffs, ! South America, 7 million or 57 per cent; to Asia, 2 million or 41 per cent; to Oceania, 3 million or 62 per cent, and to Africa. million or 52 per cent. Of the European countries the trade with the United Kingdom was least affected, the exports to that country in August being 6 million dollars or 14 per cent less than In the same month a year ago. Exports to F r.nce dropped 3 1-3 million dollars or 30 per cent; to Italy, 4 million or 7$ pet cent; to Netherlands, 11 million or 81 per cent, and Russia, 1 million or 91 per cent. Exports to Belgium fell from over 9 million to less than hi million, while the 23 V4 million dol lar export to Germany of August, 1913, dwindled to less than $70,000 ln August last. Interest ln Livestock. ' " " Much interest is shown in the fourth annual Pacific International Livestock T0f,ltion to D held ln the Portland f-T . i,lnmh- 7 1' The Lnion "tockyards, December 7-1 The mtirnada have made a very low fare ceverlng attendance at the show, and the time of year is that at which many people from the tnterior wish to come to Portland. The stockyards are ask ing that you encourage the forming of special parties of livestock people and Apple Growers Are Up Against Losses Prevailing Values Throughout the Country Are Somewhat Below Cost of Production. Tuesday is apple day and It will be generally celebrated throughout the United States. Some of the states have set aside the day as "National Apple day" while others will celebrate it without official action. There Is no doubt that much bene fits will be derived by the Industry from the celebratJSfl of apple day. The 1 LJJJS? will greatly add to its popularity and distribution. Whether the demand will be sufficiently strong at home to ab sorb the offering remains to be seen but the outlook Is by no means prom ising. Apples are at present selling in the markets of the country somewhat be low the cost of production and it la stated that 10 per cent of the output of Oregon, Idaho and Washington will not be gathered and marketed. Recently 'great efforts have been made by some of the distributing In terests to becloud tbe real seriousness of the situation by claiming that list fprices were being generally main tained, bo tar aa can De ascertained from recent sales ln the eastern mar kets, apples have been selling far higher at Portland than at any other point, in the country, freight charges considered. The plan to stop bearish talk In the apple trade was probably taken up by distributing interests to aid grow ers themselves but the situation is so serious and so well known among the trade generally, that the grower should be correctly Informed because he is most vitally interested. There is little need of talking fair prices to arowers at this time when the returns to be made later in the season will Drove verv disaDDOinting. There never was a season like the present one. The dismal period of 191$ when growers believed that tbe bot tom had been "knocked out of the ap ple market, showed quite fair values in comparison with tnose now in ex feet generally. XHAM SJFORTATlOff Coos Bay Line STEAMSHIP BREAKWATER Sails from Alas smith dock. Porthtna. 9 e. m Every Tuesday. Frelgnt. and ticket offica lower Alnawortn ooefc. V. C B. 8. B. Line. L. H. Keating. Arent. Fbooe Hals Seoft. A 2232. City ticket office. SO Biitt street. C w. Eunger. Agest. rboaea HaraaeU 4800, A-C12L. others Interested ft. our show i It possible to ru a special i ir leat ' from the fUrger lown traveling passeng and local of your line will iloi everything can to assist in thi formation of t par tiei. - -J- . i .. H Bank -Opeainr Awaited.' - That each week marVs urth r provement in thW financial sit is th,e assertion kt I Henr -Clev , New York financier; ;He'says t: ltloa of foreign! exchange i la grow'ng more favorable an4 f transactions, thounri still fieric-n iivaea,. are oeing a . . coaducta ,v creasing faculty. The- lorwat! the tioo.ooo.oeo gu Id pool has rvf i material relief, ar II la offering r f ,what can l complished by intAltgcnt, uneelf operation. ; . .. - - - , j ' The money marJftr.is also .weri into, a much easlir position. - f borrowers have lesldiff iculty In S ing, $accommodationsridj-' t som Achat eesler. ThiriT&if . ter demand for Commei p; which demonstrates lmpro : tions ln the credit .market. J ! The assistance of tha gov ? ; and the operation of the AldricKVp land emergency bill, ; which . -.. nearly $360,000,000 to our: tircuutoc have been important factor ln mi rary; relief. The financial diatrlef i now looking forward eagerly to trs opening of the federal reserve ban!- The hope is unreasonable , that ' stock" exchange will be. ppened at the same, time as the Inauguratloi the -new banking system, which lowering the reserve limit will pen an expansion of about another J3' 000,000 In bank currency Of Jeour the danger of a flood of foreign s ing of American securities .is. still t chief hindrance ' to opening the i. York, (exchange. A f. Earnest efforts are pe-jwg ' stride . open, at London: the laNit proposal '. this j direction being' 4or. 'the Brit' government to guarantee 23 per - x-, of outstanding stock exchange-loi when the moratorium eirplres. If.t' plan. is adopted the British banks v undoubtedly bo willing td ex1 tend it-c stock exchange loans. r 1 jt ' 1st the loa situation and not the speculative V sitlon which is tire main causa of an . lety.i Orders from Abroad. i.,' Miscellaneous requirements tor r.t ropean. countries now at war now ur furnishing important order 4"or1?v lean manufacturers, saya , -The, Iro Trade Review. American motor truck ' appear to be in considerable denim, in 'the war cone and there, have bf otr ir sales made in , addition to t lar negotiations ' now being-carrl 1 on tirough the Hethlehem Steel ' eo-1 pat L and railing for 1000 or- . 20 ! . L v. I r l . . . tt. . . t . li " V viinriiy ivil I ntii.c, 41 j situ' fstov'l. The Autocar company.! Art knio ' Pa., has been shipping a, -.nun ber'"pf trucks of miscellaneous ty;i and'till is pushing Its plant tor ;.tur: out additional machines upon Tth ordipf., , : t 1 In'additlon to the' recent "heavy, I chases of horseshoe, in this countr aggregating 2,000.000 to 1 3.000,000, t optlon on an additional 1.00()jmJK-t;'V has been taken, and there are .well-4 fined reports that several ; mill l)' shoes in addition are ln the mark The original order for these nor shoes is. understood to have Been (rf vlded between the. American 8 tee I Wire company, the Bryden. Horseshoe company, Catasauqua, Pa., and th Phoenix Horseshoe company. The shoos-will go. largely, to France. A shipt'ent of 805 tons of horseshoes r 125 'ins of horseshoe nails, has bM madi Jfrom New York to Havre "by tl steaigfr Chicago. The recent ' ordf ' for tons of special steel , tor tt calks,taken by the Pennsylvania 8te company, ln connection with the tract -for horseshoes, will be stiff 1t lent to make 24.000,000 calks. Thi contract for the horseshoes provide that'.a number of extra calks shall t furnished. : , - j-Chicago Hogs Lower. f Chlia'ro. Oot. IT. Hoc. ll.OrjO: ssark- slow.-'ifcc lower; Ilfbt. $T.Htfj8.nO: siItM 7.1fi5jS.05; bray. $7.O08.0O; roufh. $7,f tT.15l-.B- --. .-, . - ratBe, MOO; market ateadr. : RbeeB 2rtUi; markpt weak. , i ft. - a s .as w S&d today tat this sale catalogue fm, f;you are interested in buy. -! ina; registered stock, this first annual fall aalal to beield Wednesday, November 11, 19FL we will sell one of the finest trTtigs f 71 Holateln-Freislan Registered Cattle. Including milch covs; heifers trulls and bull eat as to be found In tbe Pacific Noftnwest. All are pure bred, reg ist&ed Holsteins. 7 , Vrite today for descriptive caU loge, terms, transportation, etc. to iCARNATION STOCK FARM. SaaHUs, Wash, 92$ Henry Bldg. Vate Aooated at Carnation, urasa. (oagX. M. A. fit. P. R. R.) in Bno ouaimle Valley, is miles from aWttla by auto via. Klrkland, . Sil starts promptly at lt.SO Wednesday, November 11 th. 191 4 Auctioneers: Que it -Linbargor. XDverbeck Stocks, Bonds -It i Cotton, Grain, Etc f DIRECT PRIVATE ni tirinrc wr a . - f- YYIIVC-3 IV AUi EXCHANGES I i Members Chicago Board of Trad Correspondents of Logan & By ran ijji Chicago. Haw .Torav,--.s . 314X7 Board of Tra4s Bnildiar,