The Oregon daily journal. (Portland, Or.) 1902-1972, January 17, 1915, Image 26

The Oregon daily journal., January 17, 1915, Page 26, Image 26

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Newspaper Page Text10 THE OREGON . SUNDAY JOURNAL, PORTLAND, .'SUNDAY MORNING, JANUARY 17, 1915. f PORTLAND SHOULD MARKET OREGON FRUIT CROPS OUTSIDE INTERESTS W REALIZE SCARCITY IN ALL CEREAL SUPPLIES Europe and California Heay Ilitl ' derm tor Wheat Hereiat Further llecord Price During tLo Week Stock Are Limited. 4 Toflfn Crop Beports. s 4 s ' TtiUBata The weather and the : wheat crop arc favorable. - India A report shows 25 per tent ' increase In acreage of d wheat or, roundly, 7,000,000 - acres. Rain Is urgently wanted everywhere. .-'All cereal prices were moved upward In tha Portland niarkefdurina: the last ween inax .ueiiyery uiucieiii a . u u ,k iiLiniiri U1U , 1 1 r- I IliD I ...... storks not offering- below $1.55. Not withstanding the extreme prices that nave oeen quoted locaiiy uunng m week. , tnere were reports mat sun higher prices were available at interior points, t The really big. feature of the week's Wheat trade wan tne entrance oi uau fornla millers 'Into the Pacific north west trade. forecasts or ine proo able great .needs or California miners were recently made in these reports. The demand front California Is likely to be -heavier than usual because of the fact that the trade there sold more wheat abroad than usual. - California millers did not seem to realize until the present week Just liow snort Wheat supplies were at i'a ' d fie northwest points. Kvldently they fie re were being manipulated and they were awaiting; a reaction beiore tax ing hold. This reaction has not 'hap pened date, neither is it likely to be seriously considered during tne re mainder of the season.. -. ' Not enough wheat is remaining in the hands of Pacific northwest farm ings as j a factor. More wheat is re tained by speculative interests than by prodlucers. but total holdings ara nominal1 as compared with this same period In. other years. - There; is not the slightest sign of letup in the demand tor wheat from Kurope. i There is great danger in this to Pacific coast holding because who ever pays the price will receive the ' goods, foreigners seem to realize th Wftrlil's ar-nrrttv more than home In terests and for that 'reason have been unusually persistent buyers. Home sort of measures should be taken at this time to prohibit the fur ther sallo of wheat to Kurope and in this embargo should be-included oats. ' Unless. something Is done quickly, the Pacific coast will surelv suffer from a wheat famine Already the extreme scarcity) of wheat Is ruining tne poul try Industry Huge quantities of poul try are ; being shipped to market sim ply beeauae there are no available supplies; of feed In the country. Hog v a niiihlnrr their iwlnn in the stockyards because the cost of wheat for feeding is prohibitive and in ome sections the grain is not obtainable. The Portland grain market has be come the highest in the entire country and much interest has been centered In the trade on this account. Excitement galore was shown In the oats trade here during the week with a net advance Of $2.50 a ton in the bids for feed. Foreign demand for oats Is still very heavy and with fur ther sales to Kurope there is danger of a ahnrtaat) at home. Barley market made a $2 advance for the! week in the Portland market with heavy bidding in the Interior by tidewater interests acting for Euro pean buyers. CLOVKM SEED Buying price Nominal No. 1 uncleaned. Il44pl2c; ordinary. HV4e pound; alslke, 12c. FHXUm Helling price: Paten, $8.80: Willamette valley. $6.80; local straight. $6.60; export straight, $5.20. cutoff.! 15.20; bakers', $6.60y.6.8O. HAY New crop, buying price: Wil lamette valley timothy, fancy, $13? 14; eastern Oregon-Idaho, fancy timo thy, $K.i-a 15.60: alfalfa, $13; vetch and oats, $910; clover, $8 per ton. OHAIN BAGS 115. nominal. No. 1 Calcutta, $6. , M1L.1.8TUFF8 Selling price: Bran, S28.o0r29; nhorts, $30 4j31 per ton. Mercnahts' Kxchange spot prices foi the week: WHEAT Bin Bt. Kri.l Tfcura. Wed. ' Tuei. Mon. lilUMtHO 11.43 fl.4i KortyfOlA $1.4i i $1.43 1.42 1.4l S1.40K 11.39 . Sl.ill tl.40 $1.30 11.3SU 1.41 1.30',i 1.38 91-38H flu 91.41 . i $1.42 KM Ilusnlan 91.33 91.34 91-S4 9t.83i 91-82H $1-31 Ked Oft 91.38 $1.38 91-37 91.30 $1.38 91.84 . OATS 928.50 930.00 $36.00 934.00 $34.60 $34.00 BARLEY. Feed $31.00 930.00 930.30 $30.00 920-90 929.00 XrwlHsf tsUDO $31.50 .VtO-GO $'10.00 $30.00 $29450 MILLfiTUFFS 2.75 $28.00 929.00 928. 00 $2S.50 $23.70 . $S.W $20.00 $29.60 $20.00 $29.00 $29.00 ' futures were quoted: WHEAT Eld. ebroary bluestem ...$1.44 - March blueatem, 1.49 Ask. $1.4ft 1-48 1.51 1.48 1,48 i 4i L45 lT 119 1.44 1.43 37.50 38.00 39.50 May bluestem 1-48 kebruary forty fold..... 1-4U March tort J fold - 1-44 Kabruary club... J-4 March club ...... -4?., February Ued Russian l.K)U 'March Red Rusalan 1.3t March Red 1.40 i-bruary lied alia.... .... 1-39 . OATS Kebrnary ST.OO March-.... "i!? , May ... .19.00 ., , OAKUSI ' February feed seed ..31.25 4 32.00 ..32.00 I 34.U0- : M1LLSTLFF3 Kebrnary bran 28.7S 30.00 Hop Contracts in Upward Flight: 12 Gents Now Offered There la quite a liberal demand for ' hop contracts here, as high as 12c for bst growth for one. three or five ' year terms, This much is conffrmed. During the last few days dealers re port the receipt of many Inquiries for contracts on the coming crops, and, as . growers are showing little disposition to tie up their crops, the market is naturallv tending higher. Market for spot hops Is also fairly active, with sales reported from lOo to 12c in the Willamette valley. Re ' rent purchases reported here were the Uolter crop of 168 bales at Brooks, taken by Harry L. Hart; the Johns erop f 79 bales , at Barlow, by 'Mc . Netf Bros., and the Grant crop of 65 bales at St. Paul, taken by , the same parties. .', ': I Harry I Hart and James Pincus are reported purchasers in western Washington, but the exact deals have ' r not been made public. In Hull fornla. Donovan Is resorted i the purchaser of the Frailer crop, of 29 bales in Butte county at 10c. & J& F. Uhlman aire credited with secur ing m- cnntraft i; tnr- 1 Ofl OfiA noiinrla in )the Sacramento section from a Jap ( ne named Okie at 10c. - It Is stated .'.".hat lie -ts being offered there for tter stuff. . . FRUIT INTERESTS, TO OBTAIN BEST RET HAVE TO Intense Interest Shown, im 3Iarket - ing Problem, in Pacific North wrest; Fruit Magazine! Makes Some Recommendations. The great need of better organiza tion and cooperation among fruit growing interests In the United States and especially In the Pacific northwest is attracting much attention from spe cialists at this time. .- v v In the current number of "Fruit and Produce Marketer," formerly "Dis tributor," of this city, the subject Is handled In an unusually comprehen sive manner. Excerpts are: i "In all parts of the United States the producers of commodities are se riously considering the problem of distribution. Florida producers have had a loss year. The growers are try ing to rind some way to avoia anom er. Agitations are strong in New Kng land; the south is giving grave con sideration to the marketing oX- its products; Colorado has for some: time been going into the subject by hold ing conventions, investigating commit tees and newspaper discussions; Cali fornia has been trying to flnd.somo way to profitably dispose of the"" great quantities of fruit and produce. in the northwestern states the fruit growers are turning their attentions to the problem and are giving it care ful and full consideration. Consid ered irom every view point this is the most serious question before the northwest. We may grow the most perfect fruit In the world. , but, if it can not be marketed at a profit to the grower it is love's labor lost. "The northwestern fruit Industry Is different from eastern fruit growing and can not be compared with any J other line of soil work. We are manu facturing fruit. Our factories are small untts. Our markets . carry a freight handicap of 30 to 40c a box. Our consuming markets are surround ed by producers of our own" products. Our orchards are investmentsi We can not change our product without de stroying the Investment of consider able money and accumulated labor of seven to ten years producing the trees or our manufacturing plant. It therefore. Is only natural that the mar keting' of our labor receive complete and -careful consideration. "The , Fruit and Produce Marketer would like to see the scope of the cen tral board enlarge to include tne co operation of the railroads. The rail roads cannot afford to be selfish. The Interests of all are the same. We would suggest that the cooperation of the railroads In assembling the in formation In regard to the movement of cars for the central board would save a great expense and duplication of work. We believe the railroads would be wiilincr to assemble the de tails of the bills of lading from each shipping point ing point, enlarging upon tne de tails in the bills of lading to Include the grade of apples shipped, and im mediately telegraph this detailed in formation to the central board so that they could have in the hands of ever shipper a report on every car. what it contained. The information from the railroads would be absolutely correct It would forestall the possibility of any organization reporting incorrectly to the central board. It would make honesty necessary. We believe that the closer cooperation of the present selling organizations as the only pos sible outcome of the cominr meeting. Each organization should nave full power to use and show their selling ability -in their returns to the growers. This, cooperation should be tied down in such a way mat eacn organization would know that the information re ceived through the central board was absolutely reliable.' JOBBING PRICES OP PORTLAND Tbee prfewi are thoa at whlea wholesaler ell to retaUara. except as otherwise tate: BDTTKtt NoDilnal. Wlllaavtte Taller creamery cubes, felling price, 25c; state prints. 28c; ranch butter. 182oc; city cream, ery, case lots. S9Hc; less than case lots, c; lb. extra. BtyiiM.lt FAT No. 1. Portland delivery. tSc. EGGS Nearby freshly gathered. 28c; can dled local extras, white. 27c; case count, buy ing, f. o. b. Portland. 2526c; eastern 'freab" April 20tt22c: Chinese, M16c dosen. uva.'-ruiiLiKX u.u. Plymouth Rock, br-ay, 13ttSil4c; ordinary chickens 13c; broil- J era, m y iiw., iw , -urtrj, nujse; aressea 20022c; pigeons, $1.C01.25; squibs, $2,25j 2.40 dozen; geese, 'Are, UQlOc. CHk.h.&l vreta Uregob, Caocv roll cream twins and triplets, lSfcil4ic; VotiLg America limn yc JACK RABBITS Farcy dressed $1.0081.23. -., .,v ., ... .. SUGAR Cube. (8.25: powdered. 18.15: fruit or berry, $5.85; beet, $9.65; dry granulated, t3.80; 1 yellow, $5.15. (Above quotations are 0 days net cash.) BiClt Japan . tyle. .No. I. 8c; Mew Orieasa, heed. 6?ie; Creole. e. 1 ALT Coarse, ball grounds, ivom, $10 net toa: 60s. $10.75: table dairy. 6M. tilt: loa. 117.50; bales, $i-25; extra rise barrels, as. a and 10a. $3.X5j;.00; lump rock. $2.50 par HOnbt New, 3.E533.0 rr ease. BEANS Small white. 6icv larire whit. $6.10; pink, 6c; hmaa, 6Wc;v bayou, 60; r ran ana varetabiaa, FRESH FRUITS Oranses. navel si mni 2.25; Japanese, 80S5c; bananas . 24ttc lb. 1 nu M Ki..J - . 1 1 n. , . . . fruit. S2.00ft34.00 oer case: oliMnnl t- lb.i caitabas, $1.75 crate; pear a, i 1.20 1.50 grapes, $l.u01.25 crate. ' Afrms ijocsli iocsi.bo box. according to uallty. ruaai-utia seuing price: Extra choice SI per cental; sweets, 92.25Q2.50. ONION!) Local No. 1. 1.50: asancl.tin. selling price $1J5 f. o. b. country pulnu: garlic, II c i , VEGETABLES Turnips, $1.00lJl5: beeta $1.001.13; carrot. $1.0001.15; parsnips, i 25 -"" f iwuioCT, auxornia. $2.00 per' lug; green onions, 25c pe, dosen bunches: peppers, bells ( ) ; head lettuca $1.85 crate; celery. $2.25250; egg pUnt 10c; cauliflower. $11.25 doaen; French arti cbokea, 7i95c duaeu; atrlng beaua. ttc; Cu eumbera, uothouav, $1.00 dosea, crantierrie eastern, 910 bbl.; local. iOc lb; aprouta. ac lb. aopa. Wool and Hides. ' noi'S Burina crice. choir 11c; medium to prime, 8 10c; medinm: Uilb contracts, lie lb. i w ' OOL Aominai. ii14 clip; Willamette Tal ler coarse CwtawokL 174c. inmiiam :h. sti ire. 18Vc: choice oks iota iuaaw ik . eaalera Oregon. 14U.; accordli tw anrlnk-1 HIDES Dry hldee. i-e lb.; green. iSe salted hidea, 13VsJle; uolls. g.-eeVsalt. i .v, . vmA.w. u 7, ifioc; salt skins salted or green. ttc: gria oldea. la wrmm mtmir ai BailOb. IMW uuia. lutu'Aci Or jr. lie. Tallow No. 1. we44c; Ne. s. 4444c: gramas 30c . - T UOBA1K 1914 27Q27H. CHI ill U OK CASCAK, BACK Car leu fe; teas than car lota 4a. HeaU, fiah and ProrUioaa. DRBSSLO MEATS-belling prtotT-L Cnantr killed: fancy bogs, 89c; rough aad bearv 7c; fancy eals, laftJ12c; ordinary, uC; Door! 7e; goaU, 34c " ' , Uilia. licu.S. ETC Uams. 18V40HW. breaklaat uacon. 20ji2c; boiled baDL. 2ac: picnics, , 12c; cottage, boneless, 174e.- ' 13c; eows. No. 1 itock. He; awes. louS: wethers , 12a Umba, 13ic; pork loins 17c. ulaiaus OUiaDUi bei- iilui. . i canoed aaatern. 56c caa, ptitt duax-aTeaatera! la shalL 1A5 per lOo; raaor clanu. M ilr eastern oysters, per gallua, aoilu pack, $a.uol lhll Ureaaed flounders. c; alecllTead aat sou, voiumbia nver. ttc; perch, aese lb totmers- aac id.; surer smelt. 8c; saimoa trout. 18c; .halibut, lie lb.; Columbia river amelt 6c lb.. .. , t-ARU -llercea, 12i i compound, tierces, n taAHS irge. $1.76; meUlam. $15doaeI Pilats red Oil. , '.".v.l:M 'Oc; boiled, cases, lee gal.: lou of 250 gallons. lc leas: ell cake meal, $44 per ton, i; , ' ehlfk ULAO xum auts. TVe peri lb., sou lb. lota, lc per lb-; lew KJu. T W. WV-AM - WM. S, ...,!.... COAL OIL Water walla) la eruisa and itaa kerrete. lor. IURPENTINB la rases, tanks. aoa URN COOPERATE Edited by Hjman H, Cohen. THREE WISE MEN CO-OPERATION I , ' I : W I - GROWERS NECESSARY TO SECURE PROFITS By Hyman H. Cohen. 'That only through a strong co-operative marketing concern, can apple and other fruit Interests hope to util ize their otherwise waste fruits prof itably, is the conclusion that has been reached by those closest to the in dustry. Private concerns, are not likely to give tha results that 'could cooperative ones, for the latter would be owned by the producers themselves and there by cut out the profit of the private in- The spoilage of fruits In the Pacific northwest each season that could be entirely eliminated were the growers properly organized to take care of the waste stock, would be of sufficient value to mean the difference between profit and loss to producers in periods when the fresh fruit markets are be low the cost of production. Everv section has its . supply of fruits that are not good' enough for the fresh food market and are still of sufficient quality4 to utilize in some other form. The taking of the "culls" from the market will mean that the growers will receive better returns f oi their better quality stock. In many instances "cut ill" rru fruit sent to market PRODUCE TRADE REVIEWS The weakness in the egr market dur ing the last six days brought forth the customary price losses for this period of the season. Receipts in creased every day. -Chicken Market Xroses. After a period of considerable Etrength the chicken market is again weak and depressed with the 'general range of values 'lower. The loss in price was occasioned by the continued liquidation of country interests due to the extraordinary high cost of feed. Country Mekts Lower. Country meat prices showed a smart loss in the Front street trade during the week. While the principal weak ness was in hoes owinar to the lower ing of prices in the livestock market, the heavier receipts of calves later on the street caused a reaction in that line. Butter Market Lower. Lower prices were named all throuerh the. hutior mrkit durin? the week. The price loss was forecast because of the much wtater surplus Mcumulatlne In all Pacific coast markets, urr graae quality is sellina- at various prices. Potato Trade Xs Firmer. Firmer prices were shown all through the potato trade on Front street. In fact, all Pacific Northwest markets are in better shape with Rood quality extremely scarce. Onion Movement Xs Pair. Only a fair movement of onions was shown ftenerally through the week's trade. Locallv. the market was steady and reports of growers indicated prac tically all of the trade at $1.25 a cen tal f. o. b. country shipping points. Boot "Vegetables Xiower. Now that it has been definately as certained that only a very small EXPO RT TRAD The utter stagnation in the flour trade with the orient has been, the cause of considerable speculation among the general cereal trade of the Pacific coast. In an able review of the situation. United States Consul General George E. Anderson writes from Hongkong: - ' , The flour -market of Hongkong is all but , completely dead, and present indications are that the close of the calendar year will show the smallest stocks on hand and the smallest cur rent volume, of business for many ?'ears- At present there are on hand n the colony about 350,000 bags of flour as comparea with as low as zoo, 000 bags November 1 and 700,000 bags at the same period of 1913, when stocks were consiaerea low in view oi the volume of business tnen ootaining. High prices in tne umtea states ana low exchange value of silver here have combined to make business almost im possible. A few lots of flour are ar- rivinsr on oiu cuniracia. uui iue 1111- ?orts at he present time are mostly or foreigners resident in China or for th hieh class Chinese trade only. For several montns tnere nas oeen no chance for new business. The price of flour in the United States at pres ent precludes its use as food for the mass of the Chinese people, and when to this nlgn price at nome is aaaea me low value of silver and to that also the great discount of subsidiary silver mins compared to the standard silver dollar the Chinese people simply find that they can not use flour. Not only are high prices and low exchange working against the trade, but high freight rates have given the finishing touch. Any one of these several caus es would have been sufficient to pre vent - satisfactory imports. . ? Present prospects ar that, far from being the banner year which was an ticipated in the trade at the beginning of 1914,' the year's total imports in Hongkong will not exceed two-thi'-di of those of last year, and . the Im mensely larger portion of the Imports realized came in the first half of the year. Imports for 1914 will probably 111 L - CAtJCKLl ,iuv,vvu ' .v i I pared with 5.176.623 in 1913.. Stocks i at the beginning of the year were (heavy, but thev have been worked off Iunui at present tnere is uanser ui me Hongkong government preventing fur OF THE WEST! AMONG is sold even below the actual cost .of freight or express charges. This Is not due to any fault of the commis sion men or wholesalers, but ts caused by the fact that under normal conditions there Is a sufficient supply of good quality available to fill all requirements of the trade. Therefore in order to sell poor quality unusually low prices must be made to the buyer. Cider plants should be much, more numerous than they are today and with the coming of the prohibition period, there is likely to be a much greater call for this healthy drink. Recently there was organized in Cal ifornia a subsidiary of the California Fruit Growers' exchange for the pllr pose of utilizing the otherwise unmar ketable fruit. I "A purely cooperative venture and one for which there has been I a de mand for a year," said General Man ager Powell of the Exchanged "It will provide an opportunity for the scientific study of the problem jof se curing a return from fruit that Is now either classed as culls of no value or marketed at cost or less. It will also afford opportunity to profitably use the fruit at times when market: prices may not be satisfactory. Thus the grower will be insured against loss." amount of damage was done to root vegetables in this section, supplies are again coming forward and the price has tended downward. j Sfcippimr Cabbasre North. Quite fair tales of cabbage were made to the northern markets by local shipping interests during the i week Seattle and Spokane have both been liberal buyers and these sales have en abled the local trade to hold the price steady. Glut of Presa Salmon. g Owing to the fact that the trade in ficzen salmon with Germany cannot be carried on at this time, fresh fish in terests are receiving ail the supplies and the trade was generally glutted during the week. For canned salmon the market remains steady to firm at former prices. Porelgrners Buy Hops. Week's trade in the hot market at Willamette valley points was quite fair with best goods holding well at 12c a pound. Quite fair demand for hops was sho n from Europe during the week. Contracting has been practi! cally nominal. i Wool and Bides Steady. Market for both wool, and hides is showing a steady tone locally Al though there has been a disposition in some quarters to ease up quotations on hides, the general trade has been quite willing to pay former quotations. Wool market, while nominal, is quoted steady. . ' i Babbits Are Scarce. ! Jack rabbits, which were a drug on the market a few weeks ago. are now very scarce in the Front street trade and prices are therefore somewhat up from the low point. Former receipts were of poor quality. ' E STAG N ANT ther exports of the product from thai colony as a war measure, flour being upon the list or articles which can not ba exported from the colony durints the war except by permission of the government. So far this permission has been freely granted, but should stocks get below a six months' Buppiy for the colony and the territory jlmme-t diately dependent upon its local mar ekts for food supplies tha embargo Is likely to become errective. At present th Indications are that the trade Will run along quietly on a local ba-sis un lit conuiiiuiia isi ine uiuieu Diam anu the world generally as to prices change and until also Chinese mone tary troubles are so far adjusted that trade may again oecome possioie. . San Francisco Grain 3Iarket. San Francisco, Jan, 16. Barley calls: ! Jan. 16 Jan. 16 ' . Open Close Close May ...... $1.62 91.63 $1.61 Ded, 91.47 91.47 91.4S Spot prices: Wheat, Walla Walla' I2.30SD2.35: red Russian. $2.S0!3 2.35: Turkey red, $2.350 2.40; bluestem, $2.35 Feed barley. $1.50 1.53 V4. . White oats. 91.75 Bran. $30 30.50; 33; shorts. $31 32. middlings. $32. - Various Wheat Markets. -! Minneapolis Wheat closed, I Julyi $1.35VB; May. $1.36ViB. ! Winnipeg Wheat closed, j May; $1.40; July. "- $1.41 ?.B. May oats, 69B; July. 60TB. ' I i Duluth Wheat closed. May, $1.38: July, $1.W Kansas City Wheat $1.34 A; July. $1.19. St. Louis ... Wheat $1.38?iA; July. $1.28. closed; closed,! May, May; New York Cotton ' Market. j - Kev Tori, Jan. 16. Cotton market:' . open nigh ixw uiose Jan. ..... March ... May ..... July ...... Oct. 904 ..835 ..853 . .870 838 857: 875 896 912 832 851 869 891 90T t 835-6 ' 854-53 .872-74 892 894-9' Dec .0 08 909-11 AMERICAN ITRY NOT KEEPING PACE T( Enterprise Has Been Checked Is Opinion of '.Henry Clews, : New York Banker; Mnch Idle Money Must Bo Accumulating Now. By Henry Clews, N. Y. Banker. It is quite evident that at present our Industrial activities are not keep ing pace with the natural growth of the country. Enterprise has been checked. Capital is relatively idle, and must be accumulating In spite of diminished profits in many lines of industries. As confidence is restored enterprise will revive, capital will come out of hiding and the Investment situation should gradually improve. Although the usual January invest ment demand has not yet materialized, there are Indications of coming re vival. One mark of recovery Is the Import ant new issues announced by the St. Paul and Pennsylvania railroad sys tems. Both of these organizations are about to put out important flotations, which they would not be apt to otfer unless in their opinion the situation was favorable. Another Indication of reviving confidence is the increasing orders placed by the railroads for rails, cars and other materials.' This changed attitude on part of railroad managers is no doubt largely due to the concessions recently grant ed by the interstate commerce com mission, and the belief that that ho.lv has moderated its long continued at titude of hostility. As railroad earn ings continue very unsatisfactory, this display of confidence on the part of railroad managers is doubly assuring. So far a the steel industry is con cerned the volume of orders is still very small and prices are so low that profits must be nominal. Neverthe less, the disposition of the railroads, the largest and. shrewdest buyers of steel, to enter the market at this tiarif is a positive exhibition of confidence In the future. Money continues very easy to good borrowers, and fund ar now rt lim ing from the Interior with increased freedom. There is a continued sur- Slus of currency which, however, is eing slowly pounteracted by etire- ineui or tne emergency issue . under the Aldrlch-Vreeland act. A further break in foreign exchange to the low est figure since 1907 was also a fa vorable indication, being chiefly due l MfKer supply oi iooqsturrs and cotton, which are - now going outward in large quantities. A sham aitvinn occurred' in wheat owing to foreign buying. This means increasing prof Its for the western farmer a n. 1 n 1 wi serves to Increase the excess of ex-. iwns over imports wmcn ror the month - of December are expected to reach about $110,000,000. The situa tion, therefore, Is in favor of gold im ports rather than nnorta nil tu. shipment this week to Paris must be regarded as a special transaction. Gold might come from Canada but is vir- tua.ll V at a nrpmlnm arA nnn. 4V... European nations will part with the yicuuun xueiai. BUSINESS NEWS Fanners. of Umatilla Meadows to Form Big Drainage District. Srainage District Planned, farmers of tho Umatilla Meadows aistrict, west of Stanfleld. are nlan. ning to form an organization for the purpose of draining about 11,000 acres of land. At a meeting of land owners held at Stanfleld. It was decided to proceed with the work, and a commit tee was named to obtain figures on the cost of the undertaking. The commit mittee which was given authority to employ an engineer to make the nec essary surveys consists of the follow ing: T. G. Smith, Fred Andrews, Thomas Hurlbert, feeorge Ituggs and William Haney. Mr. Smith Is chair man. The proposed drainage district includes some of the best land in the state. At present, the lands are af fected by the seepage from the Uma tilla river and f rom tlje various drain age canals in that vicinity. The farm ers propose to form a permanent or ganization in order to subscribe suffi cient money for, the work. Sawmill to Start Soon. T. H. Adams, who acquired the Stone Lumber company sawmill, lo cated near Sara, Wash., at receiver's sale, has .purchased a tract of timber containing 200 acres that lies near the mill. It is expected that the mill will resume operations In the near future. The timber was bought at the sale of state lands. It is also stated that the logging railroad which runs from Knapp's station on the Northern Pa cific railroad, to the sawmill and on to the timber tract. Is being repaired and extended. When the mill starts up about 40 men will be given employ ment.. The plant has been closed for about two years. Beet Acreage Gains. The third week in the campaign for the establishment of a beet sugar fac tory finds that 1S00 acres of suitable land have been signed up, it is reported from Medford. Committees are hard at work soliciting acreage agreements In the various districts, and it is ex pected that the required amount of land will be secured. A number of committee meetings have been sched uled. ' . Wool Kay Be Exported, The American consul general at Sydney, Australia, has notified the state " department by cable that Aus tralia now permits exportation to tne United States of merino wool, hides and skins if shipments are made in British ships and if the shippers guar antee they will not export the wool, either raw or in manufactured prod-' ucts, from the United States. Xew Company Incorporated. Articles of incorporation of the As sociated Manufacturing company, cap italized at $1000, were filed yesterday With County Clerk Coffey by Ralph L Thompson, E. P. W, Harding and Ar thur L. Tribe. - , ' Patent Flour Put 20 Cents Higher to $6.80 Barrel Here The price of patent flour was lifted yesterday afternoon 20c a barrel-to $6.80 a barrel, the hignest price witmn the memory of the present trade. : In comparison with this price the low ?uotation reached in March, 1906, at 3.S5 seems almost Impossible, yet in those days millers claimed they were making just as much money per barrel on flour as today at the extreme figure.- . - - - - Quotations were not changed yester day cn straight flour. , Seattle Livestock Steady.. (Furnished by Kldwell & Caswell, seatiie urancn.; SeatUe. Jan. 16. Hogs 962 Market steady, m ops ii.i. - Cattle 64. Market steady. Sheep None. Market steady. NDU! ) NATION'S GROWTH INDEPENDENT PRICE IS NECESSITY TO TRADE Pacific Coast Today Producing All the Swine It Needs and Apron Strings of Eastern Packers Are No Longer .Necessary Here. 1 Week's Livestock Trade.. . Hogs Heavy liquidation con- tinues in Interior with high 4 fcost of feed and prices are low er throughout the United States. - Cattle Steadiness generally shown here with light stuff of finished quality holding well. Pressure shown for heavy ani mals. Sheep Offerings here con tinue below requirements and extreme values are continued. PORTLAND LIVESTOCK RUN. Week ending-. Hogs Cattle Calves Sheep "-.., 1 t? niirn i r- x ft i s 1 r- Jan. 16 92 f 3 1660 31 5075 Jan. Jan. Dec. Dec. 9 ... 3 . . . 26 '. . . 10,429 247 7787 S105 6742 3243 . 36S0 1848 749 666 466 1758 1403 2136 14 8 9 10 7 56 ? 6157 1273 3050 3201 8195 4511 19 Year ago . . . 2 years ago.. 3 years ago. 3412 Downward trend of hoc- prices con tinues at practically all American livestock centers. The big killers of the east have the - situation in their own hands and . the usual wallopine-. of values is the outcome. The ble killers of the east influence the market along the Pacific coast fof the very good reason that tney estaDiisn tne price or hams, oacon ana lard throughout the country. tact that hoes are produced In plenty here and that shipments from the east have not been shown In the North Portland market for fully two years, is evidence quite conclusive that the Portland market need no longer be tied to the apron strings of the eastern trade The policy of having Chicago, Kan sas City and Omaha packers name the price of hams, bacon and lard on the Pacific coast means that no matter how many hogs are - produced in this territory, there will be but a certain per cent of the trade controlled by the local product. As long as eastern interests can ship their provisions from the east and make a profit on them just so long will the demand for hogs and pork products show little growth here. Coast Should Be Independent. With the Pacific coast today pro ducing all the hogs It needs for pro vision requirements, there is no longer the slightest excuse why there should be only a fractional portion of the pro vision Dusiness here done by home In' terests. There are no better bams. bacon and lard in the country than to day i produced along the Pacific coast, but 1 the fact that eastern Interests make the prices to suit themselves and these are maintained by local in terests, gives the latter practically no chance to crowd the foreign stuff out of the trade here. Were it not for the fact that so much eastern provisions are used here there would be need for several more large packing plants along the Pacific coast and Portland would De tne tog leal location . because of it being in the center of the livestock Industry. - There was a time even as short as two years ago when the Pacific slope 1 did not produce a sufficient supply of swine to fill its requirements and that importations of hog product were really necessary to fill the require ments or tne trade, under such con ditions it was probably necessary that the east make prices here but! this is no longer tne case' or necessity. The coast is not only at present pro' ducmg ail tne nogs it needs ro home requirements but within the next year or so will have a good supply avaiiauie ior uiuer uiaraeui. mailable xor otner markets, i . General hog market range: I est lisrht $7.00 Best Medium light . .... 6.90 6.75 6.95 Good to heavy Rough to heavy ft 6. So Stockers 6.00&6.4Q Cattle About Steady. I' Conditions in the cattle trade were just about steady at North Portland during the week. The run was lightly Deiuw me iulaih mat. ween, uui ic quirements were well taken dare of. The buiK or tne demand at tne momen is ior ugui siuil oi kuuo 4uctiii. public is demandiner small steaks, aiii for that reason the neavier class offer ings are in smaller request thian for merly, and this is reflected in the price offered by buyers. Cieneral cattle market range Selected steers $7.7507.8 Good to prime 7.25 7.5 Good to choice 6.50 ft 6.75 Ordinary to fair- 6.756.25 Best cows 6.7S Good to prime 6.50 6.70 Ordinary 5.255.60 Selected calves 8.0008.60 Fancy bulls 6.50 6.75 Ordinary 4.004.25 Mutton situation Strong. . Total movement of mutton to mar ket at North Portland during the week was slightly decreased from the show ing of the previous six days. All through the week the trend : of the mutton and lamb trade was strong. In all lines offerings brought substan tially the same prices that have been ruling here during the last few weeks. There is a noticeable showing of easiness in the market for mutton at most points east of the .Rockies. During the week lower values were named generally at Chicago. Kansas City. Omaha. Denver and other i points. This had no effect upon the trend of the market here, because local offer ings were below actual needs of kill ers. . General mutton trade range: 1 Old wethers $6.00.25 Best yearlings o.ou Best ewes 5.00 5.50 Best east mountain lambs. .7.40i7. 60 Valley light lambs 7.25 7.35 Heavy spring lambs 6.757.25 Native Floor in China. Under date of December 3, U. S. Consul General Julean 11. Arnold cables from Hankow, China: The Hankow flour mills report that their flour is now bringing 1.65 taels per 60 pound bag, equivalent to $3.66 United States currency per barrel. Chi nese wheat at Hankow now commands 2.90 taels per 120 catties, or $1.10 United States currency per hundred weight for Hupeh wheat, and $1.20 per hundredweight for Siechwan ( wheat, which, this year, ia much superior to the local product- - - i The very low price of flour as com pared with wheat is due to the fact that the Chinese have large i stocks of sesamum seeds whicit usually go to Kurope and for which difficulties are now experienced in obtaining markets, nrut therefore beincr offered at very low prices. Hence, a large portion of the Chinese people who before found flour more economical than sesamum seed meal are now -using the latter. Chicago Hogs $6.93. : fhlcaro. Jin. 16. Hoars. 18.000: mar ket steady. Mixed, $6.5006.95; heavy, $6.706.90: rough. $6.6006.65; light. $6.75te8S. -Cattle, 400 ; market steady. Sheep, 1500; market weak. Kansas City Hogs $7. Wnnnaa Citv Jan. ' 16. Hoers. 1000: i market steady. Tops. i.wo. - ' tatillCa J.VVV, ilioi ncv avT-i I - Sheep, 2000; market weak, 10 15c lower. "..'i '- HOG PRODUCTS REMARKABLE DAY IN ; WHEAT TRADE WITH PRICE VERY ERRATIC Chicago Market Closes With Sharp IjOss; Early Trading Is Weak and Lower but Recovery Is Made; . This Is Lost Later. Chicago, Jan. IS. It was a remark able day for the local wheat trade. Tne tmng in order was a break, of 6c in the May irom tne Friday close. xiie eariy range was l.44ft to 91.43ft the lirst traoe, and then a storm of stop orders selling wnich forced the J racmc, ami it looks very much as break to 1.4t. There was not the , though the sharp rise in that tsu necessary volume of buying orders in ' was 'srgely the result of hasty shjrt the martcet to check such a selling , covering as a consequence of meagre drive, it took the leaders and the biK houses a xew minutes to rally their forces . and tney b4gan taking wheat on a scale wnich gave the price a rehnuna nf 3 in a. taw minnt ti best recovery trom the low point was! Tn" stock list seems to have, as iroui $1.43 an hour before the close, sumed a waiting attitude, signs are and at this point the pit trade saw not lacking of a desire on the part ot signs of audiuonal selling by big in- I Prominent Interests to promote, a for dividual leaders in this trade. On this I ward movement whenever occurrence ; tnere was a breaic of $1.41. with the ciose-on a rally at or 3c; wheat sold as low as $1.23. It had nearly 2c railv' at the one lima and closed at $1.25. Most of the Argentine news was bullish, the recent heavy rains caus ing damage in Buenos Aires and other provinces. primary receipts were the lightest ior montns at ot.,oou ousneis. rse braska and other slates are refusing w ocii imuin on uiub oi i.a. ine casn situation continues tne strong feature tor the speculative trade. Chicago hou&es probably worked buo.ouu ousneis oy tne guir today through southwest points, but had no wheat to offer to seaboard bidders. There was an unconfirmed claim that the seaboard worked about 2,000,000 bushels of wheat abroad for the day. It looKed like a serious check in- the bull program for corn early today. when prices had a reaction to 76 o for May, 77c for July, following- the violent action In wheat. An hour later the support was most remarkable, letup of country offerings of corn ap pears to De conducting. Action in the oats market depends very largelv on the turns in wheat and corn. The morning break was to 65 &c for May and 634c for. July. Market closed at 65 e and 63 9c. Loeal receipts were 366 cars. Shipping sales -were limited to 150.000 bushels. After selling over 919 : for the morning. May pork closed at 9 18.97 Vi. Lard and ribs closed at 2 Vic to 6c higher for the day with May lard at sio.io. Range of Chlcarto prices furnished b Overbeck & Cooke company, 216-217 Board of Trade building. WHEAT. Open. High. Low. Close. 91-41 A 1.25 TTH B -78V, A B5T4 B .639. B May .$1-43 . 1-2V . .T7H . .78V4 . .MV4 . .64 V 9144H 9140 126 1.23 July Mar July CORN, .78 '4 .79 V, OATS. .50, 64 V PORK. .19 77 May July .63 Jan $18.38 18.07 $10.50 10.76 B 9 9.83 10.27 B May $lfl.00 $10.03 LARtt. $ib!77 RIBS. $18.90 Jan. May Jan. May .$10.72 $10.67 .910.27 910.30 910.22 Wool Prices at Top for Present; Situation Is Good Boston, Mass., Jan. 16. Wool prices appear to have touched the top for the present. Recent quotations for me dium and pulled wools have reached the limit that manufacturers are will ing to pay. Demand continues to be uctive for all wools suitable for army goods, but the tendency Is to bring low wools up to tha level of recent quotations rather than to raise prices to a still higher pi sen. ' There is much interest in'the trade over the conflicting reports regarding tne luting or tne Australian emoargo. The general opinion seems to be that another stop has been made in the di rection of permitting shipments of merinos to this country. Kfforts to contract territory wools In the west have failed again. -y In spite of adverse circumstances, total Hales for the nast week are fig ured at 3,000,000 to 4.000.000' pounds. Two or three leading houses have sold wool pretty freely, while a well dis tributed movement of pulled and scoured wools noted.- Territories both scoured and in the grease, Texas fall wo.ol and fleeces are included In the sales. Undoubtedly the call for wool with which to fill the orders for army goods placed in ' this country by France and England has helped to maintain the market on' a profitable basis, -but aside from this a cheerful feeling prevails. Wheat Outlook Is Good in the Walla Walla Section Now Walla Walla, Wash.. Jan. 18. With practically all of the frost taken out of the ground by the Chinook weather 'of the past week, and with the soli thoroughly . moistened by showers, wheat growers of the valley feel that prospects fo the fall-sown grain are brighter than since seeding operations were completed last fall. It has been difficult to determine whether any freezing damage resulted in the fields, some growers claiming such to be the case, while: others bold that no damage has been done, and ctheers maintain that nothing can be known until later in the season. The long dry spell was broken dur ing the past wees by heavy-rains In tne vaiiey, and by snow in tne root hills and the mountains. The show ers were preceded by warm weather which' brought the frost out of the soil, and much of the moisture, as a result, found its way into the ground tor, conservation ior ruture needs. Japan Exporting Flontv According to U. S. Consul George N. West, cabling from Kobe, December 14, the project - or exporting surplus flour from Japan to the South Sea islands is- materialising, and the Asahi reports the approaching shipment of zo.ooo Dags oi , tne nrst quality oy the Dairi Flour Mill company.- This will be breaking new ground for Jap anese trade, and tne opportunity has been ' created ; by the prohibition of wheat exports from Australia and the rise in American prices. As better prices are obtainable in the South Sea, wnere tne supply is running anon, than in Japan, more exports are anti cipated. :'- -.: IKANSPOKTATION STEAMSHIP BRIMWATER f i Kails from Aiaaworth sock, VerUaas, a. as.. Every Taeaday. Frsicat and ticket a f tae lower Ainawortk dock, , f , O, B, I, tV. Una, L. H. Keating, Agaat, " Pheno HJs MOO. A Z332. City ticket cXfios. M UxU. etraot. a W. Stincer. Arest; . s-Wsee ManhalJ 4M A-4121. - giving prices an upturn to 784c and ! ."?"lZ', ?9 Vic Cables made the claim that ; coniidiVed f da.0' ' Argentine shipments are likely to be Cora ttl., , much lighter. Claims in reeard to i A ',of21J c"'! REALIZING PROFI 1110 HUN unu A WEAKENING EFFECT STOCK New York Trade t'nder Pressure L of Liquidation and Closing Is Showing Losses; SI. P. 'Rise Is Not Accounted For, However. New York, Jan. Week-end real ising in the stock market produced ' irregularity, but the undertone was iirni. nothing dertnte developed to account for the movement whien , started late yesterday In Missouri offerings. to take a cheerful view of things.' end progress in tne direction or betterment : is generally recorded. "ccuuio ucn -s to iena encouragement, Ranire of New Yorlr nrlcea furnlaheil- by Overbeck & Cooke company, 216-217 Board of Trade building: j. WM,KII'ilO t opcni High1 LowjCloaej I. Copper io.....-.j 651 55(,l 65 boL Amal. Cupper Co.... .-.j 65 am. tar at ronaury, ci 8 B4H 4V. Am. Can. c 30S do preferred , Am. Cotton Oil, Am. Loco., c... 04l 40 .4 J Hwtt e Am. HiiKar. c. . 104 oo 1, 00 Vi 60 Vi : do n referred loo 14 U4 1 Am Tel i Tel , Anaconda aliulng Co 118V4 llVl 118H AtculMon. e 04 do preferred ...... B. & i., e Beet Sugar Ketlileliew. Steel, c. Brooklyn Hapid Tran. ,V1 '71 Vi 35 ioo" 71 Pd 63 V . i. . 100). irT rJTheV ' loo vi l.4 :avi 104 W i x.. C. ft u. w, c '. do preferred j M. 4 t. Paul... 'Mi 28 8S Vi 28 '28 88 7V 88 125 34 42V4 24 V 120 1J4 Wll 150 4Vi 92 2Hli 35 V. 113 i... V4 1 1. c - f iiP,no cvjpper .. 34 Vi 34 i 34 Vi - 10 i 10, 10 ism " - TVlaware & Hudson. Deii. &. R. (iiande. c do preferred - Eric, o 151HI151H 22-2 22 V, i do 2d ft. ....... do lat nft. ....... .1.. . .1 83 35 S4' i (ieut-ral Klectrlc I U. N., oie . N.. ofd lands.. ...I 28 I 39 j ......I114H 11451 lea ir 24 t 24 1I4H 11414 l-e securities i, 24 23 23 V 10T IlllnoU tVntral ....1 Inter. Hal tenter ....I Inter. Met., c ft.V-4 101 l-eliich Valler il-'MH m4 'SB 1H4VL K. C. Southern I 22V. 2214 ua lAMiiaTiue .Naaimile. 11.. K. & T-. c ... do ntef erred Mo. Paciile National JLead Nevada Consolidated . . 27 10 lOVs e i2Va 13 12V Near Haven N. y. Central N. Y.. O. A. W... N. A: Wi. c North American .. Northern Pacific.' c I'enn. Railway ... I'. O.. L. aV C. Co. P. 8. C e do preferred .... Ray Cutis. Cooper . Heading, c do 2d !fd Ren. Iron & Kteel. do preferred .... Rock laland. c . ..I MT4 22 ti 22 H 102 Vi 22 IOI 102 2 ioi !l"2 101 to 10a4l0f. 12lTfcii20t4 35ti 3l .....IP AUVft 14JVil7ia 120T4 120 34 U47Vi 147 83 80 "'ii, .1.. 70 7 . H. L. A a. F.. 2d Ofd. Southern Pacific c Southern Rallwar. c do ureterred .... Tenu. tkioiwr Texas 4 Pacific . . T.. S. V. A .. do preferred . . . . . 85'i"85ii 8S Union Pacific, e.. !UVi 110 Vi U. 8. Rubber, c... V. S. Steel Co., e, Vtah Copper Virginia chemical Wabaah. c West. Uaioa Tel... Weatlnrbooae Eiee 514 51 Vi M&i! 62 ..... 5V4 I.I Tfc 64 H 11- eiu mv. i it 1 7i 72 ToUl sales, 1O4.S00 ahares. NEVADA MIXtXO QUOTATIONS (Pumlahed ' by OTerbeck 4 Cos ' Covt, isao Francisco. Jan. 16. Nerada stocksi ,e "Bid. si Atlanta , Klue Ball C. O. I. Comb. Krect . . , Dalny t'lorcnce ...... Goldfleld C. . . Kewanas Jumbo Ext. ... Lorn Star Mercer Mines 34 t n- 'A. ... 10 ... iysf 6.t 2 . .ISO ; 9 . 8a , . ii "IS u Oro "fUHrer P. Cons . 10 Vernal Yellow Tler Manhattan 1.1st. 's - .a...a.J. 9' T-S Conuteck List. ; : t ... . m Pig Fonr . . . Man. Cms. White Cava Con. Vlr. .. Confidence . Hale a N. Mexican . . Ophlr BaraKf ..... Klerra i Kav. Union .......... il 1 .... 47 4 A - - 7 f - UPON MARKET! il 17 Hr Tonopaa List. Cash- Boy . , Olpay (Jueen .... J. Botler Too. Merger .... Midway Mon. Wtts Ext.. Mlxfab Ext . . ... MacNamara ..... North 8tar Ton ot Ner ..... ... 74 7 " S4 15 2M BOSTON STOCK QUOTATIONS (FuTotahed by Oeerbeck k CoOka Co.) Boston, Jan. 16. Bid prices: - Bid, Adventure Abmeek .. NCTOda Cons..... IS Mplaalna; Allooea x. Bait ....... 23 Arcadian North Lake...... 1W 'Baltic Ohio Copper 12 , Old Colony ...... 4 --i ; old Dominion .... 42 Hnhemla .... Hostoa Kir Butte Bsl Cat. ft Arts...... Cal. a Hecla Centennial Cooa. Mercury. v. Copper Banje.... Ialy West Pavls-Daly First Nat'l Franklin ........ Osceola .'.... 67 'At UOIW'J si Raven ....,..,.. 1 Usy Cons.. ...... 16 SanU i'e. ........ , J Vi Shannon ......... 4 Superior ...24 - Sup. a Boston..."- 14 Swift Packing.... Itmyk Tamarack 27 Trinity 2 Greeo-Caa. ..... tJranoy ........ Hancock ....... Helvetia ....... Uouahton ....... Inspiration ...... Isle Roy ale ...... Mason Valley ... Mux. Mining.... Mayflower Mexico Cons..,.. Miami Mohawk iTuolnmne ....... 10 United Zlne. 18 U. b. Hnjclta.... 21 Utah Mining...... 0 Utah Apex....... 2H Utah Cons........ ti Victoria ...... c. a - J Winona ...r...r 'Jl oiverio ....... so Wrtndot- ...... nkon CoM...... 4AV Overbeck Stocks. Bonos Cotton. Grain, Etc. t - "- DIRECT WIRES TO ALL. .EXCHANGES , Members Chicago Board of Trade Correspondents of Logan' V By ran . - Chicago. New York, . . , . - ... . . . .. .'' 316-217 Board of Trad Bmifliarr It i 49 n ii v 1 2 .4" t ft -. 2