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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (May 19, 1915)
- THE OREGON DAILY JOURNAL, PORTLAND, WEDNESDAY," MAY 19, i015. NORTHWEST EGG TRADE SPOTTED WITH SOME UNABLE TO FORCE THE PRICE Bales of Case Count Mode Down to 20c Again in Some Quarters With Canilled Ruling From 20c to 21c Receipt Pair. White the est market locally is firmer in pots. It ia not! quite as strong as indicated yesterday. Soiae business, la candled coo tinni to pass as hlgn as 21c a doion, bat some of the busineb ia - not available above 20c. Case count sales are mixed between 19s JHc a doen,wlta dealers reportiiitf both With storage -loperatloos greatly diminibcd and with outside; markets just a traction liisjli--r than the high point here, the trade has been currying a slight surplus. One local dealer was compelled to ship large i bnnca to .Juget sound fand obtained only lMjC here for case count. (These were put in new rases, therefore the nit returns are" scarcely above lc. . : U Receipts of eggs are sbowiug up quite fair In the aggregate, although some of the deal era report a .shortage. Some are; obtaining mora than their i actual requirements HUd have been compelled jto offer at the lowest levels In order to eleian up. Xhe trade is much mixed and lacks general snap, which is so characteristic of a really strong tone. CHICKEN IARKET IS . ZKIXED While current! demand .for heavy hens is very good along front street with arrivals limited, trade u not really good for small springs ever" at Bower prices. Light heu and mixed fowls at Just about holding. TURPENTINE PRICE LOWER Announcement! was made today by local wholesale paint i houses of a drop of 3c a gallon in tbe price of turpentine. This places "the new price at 57c a gallon in tanks and 64c in cases. Ten case lots lc less. SALMON RUN IS LIMITED Few fish are Suow being caught at Oregon City. A lower fiver cannery which has been securing from 2 'to ;;0 tons of fib. there erery other day, yesleirday secured only a half ton. The season will practically close Friday Leu the new law which prohibits net fishing above the bridge goes j into effect. I NEGLECTING LOCAL ONIOAS Local onions it the old crop are being neg " fcscted by the trade and the new crop Cali fornia stock Is taking their place although the former are very i low priced and of good qual ify, California jlown to $l.50&1.75 a crate. BUTTER MARKET IS STRONGER While no Change in prices is announced, considerable Strength is today shown in tbe entire butter! market. Storage operations are on very liberal scale with no- surplus in sight. Further talk is beard of an early ad vance but la:no4 general. i -i . i BRIEF NOTES OF THE TRADE California steamer came in with fresh greens. j - Carload of California foot vegetables in with lower prices; I l California cabbage prices here are lower. Greater home supply. First peaches of the season are due to ar rive here tomorrow for Levy & fpiegL Sales will probably! be j made at $Ii.'0(a.-5 per box. New potatoes continue to weaken but prices show no change for the day. SHIPPERS' 1 WEATHER NOTICE Weather bareaa sends the fallowing notice to shippers: i Protect shipments as far north at Seattle against mlnixaunt temperatures of about 44 de grees; northeast (to Spokane 40 degrees: sonth- f TRANSPORTATION S" ' ". ! i"T v Sail Francisco Los Angeles (Without! Changs Xra Bottte) The Biff; Clean. Comfortable, Elegantly Appointed, Sea-Ooiag Steamship BEAVER Sails rrom Alas worth Dock 9 A. M., May 22 x. 10O Golden Miles oa Colombia Sivar. , All Bates Include Berth, and Meals. - Tables and Barries ! Unexcelled. - The San Francisco 8s Portland S. S. Co Third and Washington Sts. (with O-W. K. Ss S. Co.) Tel. BOasI shaU 45O0. A-6121. Palaces of the Pacific B. S. JfCBTHESN PACIFIC S. S. OBEAT HOBTHEBH i Ds Inx Fast Line to SXN FRANCISCO MOBTEEBir PACIFIC Sails May IS, 23. 37, 31. Steamer train leaves North Bank station. A. M-, arrives Flavel 12:30; lunch aboard ship; arrives San Fran cisco 8 : 3-0 P. VL next day. XOXTH BAITS TICKET OFFICE. Phones: Mar. 920, A-6G71 5th & Stark American-Hawaii an Steamship Co. Freight Service Frequent Portland New York Boston Sailings Low. -Rates S C. D. KENNEDY, Agent 270 Stark St, Portland, Or. STEAMER GEORGIANA Leaves daily except Monday for astobxa Airo Wat Ukxroxaas. Leaving- foot of Washington St.. 7 a.rxu. returning- 9 p. ml SIEABISHIP BREAKWATER Sails from A Ins worth Soak. Portland. a. m. Xhursdsy. freight and Ticket office Aina l worth Bock. Faoa Laia 8600. A-883, Citv Ticks ffhe, 80 Sixth st, Pboae MacshaQ Utt. 1-6181. Pactlaad A Coos Bay s, sVUss. STEAMSHIP Sails; Direct For SAJT FBANCISCO, liOS AlTQEUSa AH9 SAV XtZEQO. Tomorrow, 2:30 p. m., May 20 SAJT FKAB-dSCO. POSTLAHD ft . ' X.OS AM QUIZES STEAMSHIP CO. FKAJTBI BOTiTisM. Agent. 1M Third St. A-4596. Main 86. POTATO CROP STRAWBERRIES IN! BAD .SHAPE;. PRICE IS DOWN ftmw berries are generally in poor condi tion fco far ajT'local shipments are concerned. Thfe entrance of "the Hood River- -ick Into tbe market caused demoralization of the trade especially Id view of the wet condition and, not over-good quality. Just at present California berries are the best fruit available in the Portland trade. Ar rivals J ryat Sacramento today were of tin nsoally good quality; lu fact the best received to date this season from that section. ' ' Owing, to tbe generally poor quality of ar rivals in the berry market at this time the trade is unable to secure more than 90e gen erally for .tbe best southern supplies, ithhnuzh as high as $1 for 20s has been received In a limited way for something really select. Local borries are selling generally at $1.00 Si 1.25 a rate for 24s with sales difficult. A few iots f the better class fruit are reported sold as high as $l.DO bat this is by no means general. J ( east to i'.oine. 32 degrees; south to Ashland, 35 decree. Minimum temperature at Portland tonight about 43 degrees. - JOBBING TRICES OF PORTLAND These prl-s are tbos? st Which wholesalers sell to retHtler, except as otherwise stated. They are ieorrected np to noon each day: Dairy Produce. BUTTE ft Nominal. Willamette valley creamery cubes, selling price, 21c; sate prints 2;f24c; ranch butter, 16Hc: city creamery, case lots.' 20c; less than esse lots. Vie lb. extra. , . Bl'TTERKAT No. 1 Portland delivery, 24c EfiGS Nearby frenuly sathered. candied. 20saic; ce count, Mt6il9fcic. LIVE POILTRY Henn. Ptvmonth Rock. 13V4c; ordinary chickens, 12feil3c; broilers IMi to ai; lbs., 22HS5: turkeys, 18i20c; dressed, TJiftVoc: pifreuus, $1.00(1.25; quubs ) losent jfeese, live. 869c; l'ekin dueks. Old, iota lie; young, 2jc . CHEKSE-i Fresh Oregon fancy full cream twins and triplets, Hi (ijlScz Young America, 15ltiL-; Ktomge flats, HVic. Iruit and Vegetables. KRESH rKUlT Oranges, navel, $2.50(Sr3.25; taugeriues. Sl.i.j; bananas. 4'-;.c lb.: lemous, 3.5ftj'S.00:l: limes, $1.00 per 100: grape fruit, 52,.".Oftj4.iO per case; pineapples. 7c lb ; pears, $L'.5; i strawberries, local, $1.00iai.50 crate; California, ."Vita 75c per crate. APPl.l:S ii.ocal. 7ocS$l. oO box, according to quality, i ONIONS Ixcal No. 1, 75(f5SDc; associa tion selling prii-e. No. 1. 75c f. o. b. country points; new California, $1.752.0O crate; gar lic. lTMsc. POTATOt'K Selling price: Extra choice ta ble stock, $1.75fcjil.aj per cental: new Cali fornia. 4,(i5o per lb. ; sweets, $.'J.2j. VEGETABLES Turnips, $1.75; heels, $1.75 sack; carrot. ne $2.00 per sack; parsnips, $l.of(gl.25 suck; cabbage, Ims Angeie?, $2.75 per crate; green onions, 15: tloien bunches: peppers, bell, 26fr30e; head lettuce. f2.O0 crcte; celery, crate. $4518(i5.0; rhubarb, 1 j2r; caulilower, local. 4iX(i$1.2. per dosen rrench artichokes, 75c per dozen; string bean, lOfrjl'ic; cranberries, eastern, $9.00 per barrel; peas, 7Vj(?,Sc per lb.; asparagus, local, 90cft$1.25 icr dozen; radishes, 20c per dozen bunches. ( . Meats, Fish and Provisions. DRESSED SI EATS Selling price Country killed: laucy hugs lOV'C; rongh and heavy hi!c: fancy veals, loftrllc; ordinary. He; poor, 5;0c; goats, o(Ji-lc; spring lambs, la MliAMS, EACOX, ETC. Hams. 17SUSe; bleak fast bacon, 17w2Sc: boiled bams. 27c;. picnics. 12c; cottage, roll, 15c. " OVSTEltS Olympia. er gallon, $3.50; canned eastern 55c cau.: $ti.50 dozen; eastern in shell, $1.S5 per 100; razor clams. $2.50 box: eastern oysters, per gallon, solid pack.. $3.00, FISH Drexsed tlouudera. 7c: steelhead sal mon ): Koyal Chinook, lie; perch. 6 8c; lobxters. 25c lb.: silver smelt. Kc: salmon trout. ISc lb.; halibut, 5&tc: shad, dressed. 4c: shad roe, 15c; roe shad fee lb. LARD Tierces, kettle rendered. 13c: standard, 12c. CKABS Large $1.75: medium $1.25 dozen. Hops, Wool and Hides, HOPS Buying price, choice. 10llc; prime, 10c; medium to prime, 9c; medium, loc; 1915 contracts, lO'fellc. WOOL Nominal, 1U15 clip; Willamette val ley, coarse Cotswold, 25c: medium Shropshire, 2c; choice, fancy lots. 27l28c; eastern Ore gon, 144423c. Hides. Salted hides. 25 lbs. and up, 14c; salted stage, 50 lbs. and up. 10c; salted kip, 15 lbs. to 25 lbs.. 14c: suited calf, up to 10 lbs., ISc; green hides, 25 lbs. and up, 13c; green stags, 50 lbs. and up, k. greeu kip. 15 lbs., to 25 lbs., 14c; green calf, up to 15 lbs.. 18c; dry flint hides, 24c: dry flint eair, up to 7. lbs., 2tic; dry salt bides, lUc; dry horsehides, each. 50v to $1: butsehair, 25c; salt horse hides, "each. $2(o3: dry long wool pelts. 14c; dry short wool pelts, 12c; dry sheep shearlings, each 10c; salted sheep shearlings, each 15c t0TALLOW No. 1. 4Vi(S4c; No. 2. 4et4e: grease, 3fti4c. MOHAIR 1115 32c. CHITTIM OR CASCARA : BARK Bnyinz price, car lots. 4 He: less than car lots, 4c. Groceries. SUGAR Cube, $7.b0; powdered, $7.10: fruit or berry, $U.S0; beet, $6.60; drv granulated. Jti.bo: i yellow, $ii.70. (Above uotations are 30 days net cash.) BICE Japan style No. 2. 45c: New Or leans, head. tV45tl4c; blue rose. 6 Vic; Creole 6c. SALT Coarse, balf grounds, 100s, $8.75 per ton; uos, io.jo; taoie aairy, nos. l: 10s, $17.50; bales. $2.25: lump rock, $20.00 oer ton. HONEY New, $3,2543.50 per case. BEAN. SS -Small white, $U.25; large white, $6.oo: pink. $5.25: liinas. $0.75; bayou, $(J.5o; red, BVac Faints and Oils. LINSEED OIL Raw bbls., 75c gallon; ket tle boiled, bbls.. 77c; raw, cases, 60c; boiled, cases, 82c gal.; lota of 250 gallons, lc less: oil cake meal, $44 per ton. WHITS LEAD Ton lots, 7e lb.; 500 lb. lots. 7-c lb.; leas lots, 8c per lb. OIL MEAL Carload lots, $34. COAL OIL Water white in drums and Iron barrels. 10c. TURPENTINK In cases 64c, tanks 57 per gallon- EASTERN CROP PROSPECTS i By John Inglis. Grand Island, Neb.. May 19. Through Sew ard, Yoek and Hamilton many fields are thin and spindly, but taking the total area gen eral condition is still promising. Crops are late. Oats acreage is large. Some fields are thin and lack color. No damage from frost here. Light snow today. It is now raining. COAST BANK STATEMENT Portland Banks. Clearings This wk- v... Monday $1,971,781.78 $2,823,032.75 'luesday 1,785,143.21 1.951.498.61 Wednesday 1.634,311.40 2,054,220.88 Ran frucilnn ttajiVa. Clesxings today ..-$9,884.9064)9 Clearings today Balances todajr . .$1,938,499.00 112,022.00 TftMlnu HjLnVa- Clearings today 1. . . . .$314,629.00 . . . 74,042.00 Balances toua,v . . . ., . : Los Angeles Banks, ' Clearings toda,- ....$3,668,585.40 Balances today 216,913.31 Wool Sales Postponed. Pendleton, Or.. May 19w Owing to the fact that the stormy weatber this month has de layed shearing, tb wool sal scheduled for Pilot Bock on May 26 has been postponed until June 10, the date originally set for Ccndoni and Condon has been given June 22. Whether other .dates will be changed Is not yer kojown. The Echo wool is said to be all shorn, j so that it is probable the original date of May 25 will be retained for the aale there. X.Y 8. Government Bonds. New York, May 19. Government bonds: Bid. . Afk. Twos, registered 97 93 dOj coupon i 97 Tirees, registered 100iB Fours registered ...1JU 110 do, coupon i. ......110 .... Twos, Panama .... .....,..,, 97 , Twos, 1958 j , ... .... 97 Foreign KxrhArtge Bates. Merehaitts Wartnn4 bank qootes foreign ex change ; ( landnn Sterling. 4. 81. . . Berlin Marks 21.37. Paris Francs 19.40. Vienna 16.26. ; J Athens 19.46. ' - : - : f Hongkong Currency, 44.45. St. Louis Metal Market. St. Louis.' May 19. Metals: . J Lead $4.12 bid. 6pelter $13.00145. - IS UNUSUALLY .FAVORABLE AT PRESENT Edited by Ilyman II- Cohen. POTATO PROSPECTS IN THE NORTHWEST El E Early Crop Has Not Looked So Good i ' for Many, Years With Acreage ; Greater Iate Planting . Saved by - Timely, Rains. ; The potato crop of the Pacific northwest this season promises to be rather liberal. In this state the acreage Is liberally increased over a year ago while prevailing prospects are for a better yield pur sere than for many seasons .past. ; - - i? - - , tRecent rains have been a most wonderful aid to the growing potato crops of the Wil lamette valley ss well ss in eastern and cen tral Oregon. . , ' While some loss of potatoes was reported at various Willamette valley points nrevious to the! starting .of the recent rainy spell, due to the frost, still latest reports indicate that even this reported loss was far greater than present facts justify. l Sparred on by the extreme price reached for potatoes during the latter part of the sea son, many growers Increased their acreage. In the vicinity of Portland this is especially noticeable although it is quite probable that the1- loss in the Interior acreage, due to th greater planting of cereals on grounds whica would normally be either ia so miner fallow or potatoes this season,' wl about make up for the gains in the western part of the state. Reports received by The Journal from spe cial correspondents recently Indicate that tbe early crop will be much above tbe noraml in bushels per acre. Were it not for the late rains the late planting would have shown a comparatively small output but the present condition ' is well up to the average, if not above it. : ; Weakness Forces Lower Closing for Wheat in Chicago Chicago. 111.. May 19. (I. N. S.) Wneat closed lH2c lower. General rains and weak cables caused a lower opening in wheat price today. May wheat opened at $1.52. a drop of c. Jnly wheat started c lower and September was down '4c a bushel. i At the decline there wss considerable de mand by commission bouses and. the short Interests. The majority of the tiaders were bearish on all grains. It was eaid they are mostly short. The political uncertainty and the belief that there will be a big crop of wheat, despite the damage reports, are tbe factors against Investment buying for the present. Prices in. the corn pit penpd unchanged. There was little action to the trading. The pit crowd sold corn at the ontret. Shorts bought. 1 Oats started unchanged to slightly lower. Provisions were practically unchanged at the outset. Before noon there was a lift In the wheat prices due to a good buying movement. Range beck A building: of Chicago prices furnished by Over Cooke Co., 216-217 Board of Trade WHEAT. Own. High. Low. Close. ii.sm a 1.251. B 1.19 A Mav .., July . . : $1.54 1.27H 1.21 CORN. -73 774 OATS. .5IH .50 .45 $1.51 1.24t4 1.111 .72 .76 .50 -49T. 1.2636 1.20 .7334 .75 . .51 . .503 .45 Sept. May ..j. July ..t Sept. . . Mav . . . July ... Sept. ..j .72 .75 m B .76 : i ,51 B .50 B .45 B .45 a NV 1Y GOOD SHAP 1 PORK. May 17.65 July 17.90 18.00 17.90 17.92 Sept. ..i.. 18.20 18i25 18.20 18.22 LARD. May ..... 9.50 9.50 9'.47 9.47 July ..... 9.02 9.02 P.tJO .9.00 Sept. 9.S0 . SJ.87 9.&0 a. 85 RIBS. -, May io.SO July .....10.47 10.50 10.47 10.47 Sept. ....10.75 10.77 10.72 10.72 Week's Weather Is ; Favorable for Grain Crops of the State The following sommarv of the weather and it results on the cood:tion of the principal crops in Oregon for the week ending May 18, 1915, is based npon Innvestigations made Ir a number of correspondents reporting to the local office of the weather bureau: "Bain fell nearly every day -during the week in the principal agricultural sections of the state. The afternoons were cool but the nights were mild and no frosts formed. Wheat, both fall and spring sown, is now- in excellent condition. The spring wheat is tooling nicely and the fall wheat is beginning to head. The cool wet weather has retarded the grow'tb of the grata as well as of all other crops, but with the advent of sunshiny weather satisfac tory progress cannot help but take place. "The first cutting of alfalfa will begin as soon as tbe weather settles and the yields will be heavy. Pastures are In excellent con dition and stock Is doing well. 'Sheep shearing has been retarded on ac count of the rains. "Strawberries are not ripening well be cause of the wet weather, but. all other fruit is 'making good advancement, except cherries and prunes, which were injured earlier In tbe season by cold rains and frost." BOSTON 1 COPPER MARKET Boston, May 19. rer hidsr Adventure Ahmeek i ....... AUoues ....... Arcadian : ...... Alaska Butte Bal Butte Coalition Cal. it Aris.... Cal. & Hecla... Centennial Chino ' Copper Range. Daly West East Butte...... Franklin ...... i areene-Cananea-. Granby ......... Hancock . .. . . . . Helvetia t . Indians .-. New Inspiration. Isle Koyale..... La Salle Lake Copper. ... Mason Valley... Ninissin 5 30 2 4 50 77 62 22 2 26 28 3 107 33 35 133 60 28 44 .35 44 2 " 2 3 55 X 3 4 North Butte...... North Lake Old Colony Old Dominion Osceola lOnincy . itu j tcma ......... Santa Fe... ...... Shannon ......... .Shttttnolr Superior 1 Sup. & Boston.... Swift Packing.... Tamarack ....... Trinity Tuolumne ..t.... iUnlted Fruit. .. .. U. Shoe M'y.... . U. Shoe M"y.,pf.. United Zinc C. S. Smelters.... 1! a SmalMn nf pUh Apex...'..,J Utah (Jons. ....... Victoria ......... jWinona .......... Wolverine 1 . . . . 4 . . Wyandot i....J.. Alironsh Mass. Mining.... 13 !4 Mayflower ...... 5 Miami ...... 23M Michigan 1 Mohawk 68 Nevada Cons. .... 13 Kerr Lake,..,..;.. San Francisco Grain Market. San Francisco May 19. Barley calls: , . May 19. : May 18. f ,Pten. Close. Close. May ,.,-..$1.17A $1.17A ' : $1.17 Detmber ..t.' 1.20 B .1.20 B " 1.20 B Spot quotations Wheat Walla Walla. $2.05 (2.10: Red ' Russian, $2.0or(r2.02 : Turkey Bed, $2-102.15: bluestem. $2ll0i2.15. . Feed Barley $1.17 ei ao. i WnUe oats. $1.75S1.77, i Brsu. $2tt.5(Mi 27.00. ! MtddUngs, $32.00 33.00. Shorts. $28.5029.00. " v j - :- ; rj : New York Cotton Market. Month. . Open High. 1nr. Janeary ........ 97 IO.16 97; March ......... 1023 1028 K2t' CIoe. 105 J02S 922 943 . 979 1001 May ........... 915 4uiy ....tf..... . vo' 1 945 ' 9X2 1O03 933 07 ; 990 October .... 967 December 891 . New York Gugrtr and Coffee. " New York, May 19. Sugar: 'Centrifugal, 4.89. , .. Coffee Spot New York No. 7 Kioi, 1e; 4 Santos SsyS. i : LIVESTOCK PEICE IS STEADY TODAY;' EUN IS LIMITED PORTLAND LIVESTOCK RUN. Hogs. Cattle. Calves. Sheep, Wednesday . Tuesday Monday . . , . Saturday ... Friday Thursday ... Week ago .. Year ago . . . 2 years ago . 3 years ago. 68 745 43 2,261 bO 415 418 126 452 " 83 409 15 1579 .529 1U13 1562 455 1017 1054 135U 60S.. - "r8 152 49 30 10 s "i5 "ii LAMBS DOWN SO CENTS ' late today a losaof 20o devaloped in the price ef Iambs with sales of extreme tops at $7.80. ' ; v ' ;;-: , : ' Little, if any change was shown in the general livestock situation at North Portland for the disy. Total run of livestock overnight consisted of 13 "cars. y Hog market continues to hold a steady tone with tortrranging from $8.15.8.25. Only ex ceptional quality brings the extreme price. Conditions in ' the swine trade at eastern stockyard pointed are not quite so favorable and in most laces values snowed ' a loss for the day. This was true especially at Chicago and Kansas City. Demand fur hogs in the Portland market continues so liberal that the trade Is quite willing to pay former figures. General bog market range: Best light $8,158.25 Medium light 8.05S.1,0 Good to heavy ....... ...... ....... 7.750tt8.tjO Rough and 'heavy 7.1uij7-50 No Cattle Available, No cattle were available for the trade at North Portland so far as new .arrivals were concerned today. Not a single hoof came for ward over night. ' - . I General cattle market conditions continue firm with former prices nominally continued by tbe trade. 1 In general there was a slight showing of weakness for cattle at principal eastern stock yard points for tbe day. General cattle market range: Select1 steers .. .$8.008J20 Best bay fed steers 7.75 Good to choice 7.2o7.35 Ordinary to fair 6.0O6.75 Best cows 6.50rg,6.75 Good to irime 6.25 a 6. 40 Select ealves 7.50fg.8.00 Fancy bulls 5.50i6.00 Ordinary bulls 4.005.00 Mutton Market Holding. Practically no change was shown in the mutton and lamb situation at North Portland overnight. Receipts were small and some of these came direct to killers on contract. There was a less favorable trend in the gen erel eastern mutton situation today with some lowering of prices. General mutton range: String lambs v. $8.25"8.30 Grain fed shorn yearlings ........ i 7.25 Best shorn wethers 6.25 Best shorn ewes 5.005.25 Wool stock is generally quoted at $1.00 bigher than shorn. 1 Today's Livestock Shippers. H6gs J. D. Dinsmore. Jefferson, ,1 load; P. Houchin, La Crosse, Wash., 2 loads; K. A. Thompson. -Heppner, 1 load; G. A. Dove, Roosevelt, Wash., 1 load. Sheep B. J. Bridges, Yoncalla, 2 loads; Rice Bros'., Sheridan, loads. Mixed Stuff J. W. Brown, Suver, 2 loads hoirs and sheen: Patton, Overton & Falfc. Brownsville, 1 load calves, hogs and sheep; F. B. Decker, SUverton, 1 loaa nogs, ana sneep. Tuesday Afternoon Sales. 1 HEIFERS. ' . Section No. A v. Lb. : Price. Oregon 1 IKiO $6.75 Oregon 1 . 300 4.50 CALVES- Oregon 4 200 $8.00 LAMBS Oregon 150 52 $8.25 Oregon KJ" 61 8.25 Oregon .....21 82 8.00 YEARLINGS. Oregon 35 72 $7.25 WETHERS. . Oregon 24 113 $6.75 EWES. Oregon .......17 108 $50 HOGS. Oregon 64 , 150 $8.15 Oregon 23 212 8.05 Oregon w. 3 '210 . 8.00 Oregon ' 2 335 . 7.00 -1 Wednesday Morning Sales. K LAMBS. Section No. Av. Lb. Price. Oregon ...52 02 $8.25 Oregon 34 66 8.30 Oregon 13 57 8.30 YEARLINGS. Oregon 22 84 $7.25 Oregon 17 92 7.25 WETHERS. Oregon 2 110 s 6.50 STEERS Oregon 22 1431 $7.00 Oregon 2 1445 6.50 , EWES. Oregon 29 113 $5.25 Oregon 25 207 5.25 HOGS. Oregon SO 201 $8.15 Oregon 6 . 339 7.15 Oregon '. 16 1 163 8.15 Oregon 191 .8.15 Oregon 73 145 8.15 Oregon ;., 35 135 8.15 Oregon 3 2: 7.65 Oregon 2 270- 7.15 Oregon 1 2SO ' 7.15 Oregon ............... 1 370 7.15 Oregon S 112 7.00 Oregon 6 106 .75 AMERICAN UTVESTOCK PRICES Denver Hogs Xower, Denver, Colo., May 19. Cattle 2100, steady. Beef steera, $7.0O8.OO; cows and heifers, $6.006.80: calves, $8.0011.00. Hogs 800, lower. Top $7.45; bulk, $7.25Q 7.30. T Sheep None. i Chicago Hogs Lower. Chicago, May 19 (I. N. S.) Hogs, receipts 33,0OW: slow. 5 (3 10c nnder yesterday's average bulk. $7.507.60: light. $7.357.65; mixed, $7.357.65; heavy. $7.157.60; rough, $7.15 7.SO;, pigs. $5.757.35. Cattle Receipts. 16,000; weak. Native beef steers, $6,99.20; western steers. $0.10 6t7.90: cows and heifers, $3.25(38.75; calves, $6.50o;9.00. Sheep Receipts. 10.000: steady. Sheep, $7.70 68.50; Iambs. $7.75a9.90. Kansas City Cattle Steady.- Kansas City. May 19. (L N. SJ Hogs Receipts. 12.000: lower; 1 bulk, $7.307.35: heavy. $7.30Q7.3o; packers and butchers, $7.30 7.40; light. $7.257.40 pigs. $6.257.25. Cattle Receipts 5000. f steady. Prime fed steers. $8.609.25: dressed beef steers. $7.SOb 8.50; western steers, $7.50&8.55( , stackers and feeders. $6.758.40: bulla, $5.704j7.OO-. calves. $6.00ig9.75. . Sheep-T-Receiptsv 4000; steady. Lambs, $9 10.25; yearlings. $8.009.75; wethers, $7.00 4J.S-75; ewes, $0.55a8-50. Omaha Sheep Steady . Omaha. May 19. (1. N. S.) Hogs Receipts 11.00; lower. Heavy. $7.157.30: light, $7.23 7.35; pigs. $6.50&7.35; bulk. $Y.207.30, Cattle Receipts 4O00; stroag. Native steers $7.50St8.00; cows (and heifers, $6.008.1O; western steers. $6.508.00; Texss steers, $0.00 (37.40: cows and heifers, $5.604$7.25; calves. $82510.75. . Sheep Receipts 17,000. rteadv. Yearlings $9.0O9.75; wethers. $S-259JB; lambs, $10.50 611.40. -. St. Louis Sheep. Active. St. Louis. May 19. tl.lN. S.) Hogs Re ceipts 15.000, lower. Pigs and lights $2.501 7.60; mixed and butchers. $7.407.60; go&d ami eavy $7.457.55. i Oattle Receipts 3300. steady. Native beef lee in, $7.5u9.O0; yearling steers and heifers $S.OOi9.3o: cows. $6.O0;7.5f; Blockers and feeders, $6.008.25; southern steers, $5.25ftg 8.25; cows and heifers, $4.00g6.00; native eclves, $.00fr7'.t.00. V Sheep Receipts 3000, active. Clipped mut tons. $0.5o.r7.85; clipped lambs. $S.609.85; clitped yearlings, , $s.5o'9. lo spring la rubs. $Ki.OOai2.50. r. . .V-V,? POTATOES ALONG THE COAST wi-;-. ' t ; 1 11 1 '..';..-'. is"'-'.".. "Baa Francisco Market. " ; San FTanelsco, May 19. D.- P.) Potatoes: Salinas. $1.&5(Vt2.50; river; $1.00(31.50; sweet. $!.501.85. - DAIRY PRODUCTS ON COAST i Ban Francisco Markets. ' San Franclco.-- Cal.. May 19. (C. P.I Efr Extras 23e; firsts, 22c; seeoBds, 20c; pullets, 20c. , . , Butter Extras 22e; prime firsts, 23c; firsts, 22C. i Cheese California fancy, lie; firsts. 10 e; seconds, . 8e. t r ' ' " ' ' E OF SHIPS TO AFFECT WHEAT CROP LOCAL QUOTATIONS Prevailing Value for Next Crop . Ships About 30c Bushel Higher Than Start, of 1914-15 Season Patent Flour Drops. NORTHWEST GRAIN RECEIPTS -Cars- Wheat. Barley. Fir. Oats. Hay. Portland today. 5 2 Y'ear agb 13 4 Season to date. .15,854 i885 Year ago. 15,443 2606 Tacoma Season to date 8,914 602 Year ago ... 8,74r 80 Seattle, Tnes... fi .. Year ago....... 17 8 Season to date.. 7,558 1079 Year ago. ...... ,579 1093 1 5 1947 15115 19sl 2619 3111 2402 5 11 6566 4872 1833 2670 631 464 6 2 1 2220 1194 2004 1243 With tew crop ships not available below 72.6 or about 30c. a bushel bigher than at the start of tbe 1914-15 season, the outlook for the coining season's wheat-prices Is much less favorable, although it U too, early to state definitely what the market is going to be. A number of cha.-ters have been reported at extrente rate, but export interests are not making them public Extreme freight rates to the east are like ly to curtail for tbe time being at least. the development of the 'floor trade be tween here and the Atlantic coast. Only small amount of business is passing at this time, because of the lack of ocean tonnage, I Central west is again bidding" for bluestein and red Russian wheat and some further sales are reported for that account, although the volume Is not liberal. The drop of 20c a barrel forecast in these reports yesterday was made later in the afternoon, as expected. This places patent at S6.4U. Some fears tare expressed In the interior regarding the rank growth of wheat and weeds in wheat fields. According to J. Z Smith, the pioneer Walla Walla operator, in this city today, the weeds are growing un usually fast. ''Signs of rust are already ap pearing in the wheat fields," says bmltn "The wheat has grown so rank and heavy that some of it will probably be damaged in the foothills sections. In the light land sections much top growth has been made in fact, too much for the good of the plants. as later warm weather will dry out the ground and with roots too close to tbe sur face, the grain will not fully develop. At the present time It looks as if the harvest will be early, but this condition may change, Prospects at present are for a fair crop in tbe Walla Walla section." FLOUR Selling price : Patent. $6.40; Wil lamette valley, S6.40; local straight, $a.?o; bakers', $6.606.80; export, $4.50. HAY Buying price, Willamette valley tim othy, fancy v $12.50 13.00; eastern Oregon- Idaho fancy nmotny, sio.oo; airaira, 13.50; vetch and oats, $11.00; clover, $8.004 9.0O oer ton. GRAIN SACKS 1915, nominal : No. 1 Cal cutta. 707fec. M1LLSTUFFS Selling price: Bran, $25.50; shorts, so. 1 ROLLED BARLEY Selling price: 29.00 30.00. CORN White, $34. 0Og35. 00; cracked, $35 36-50 per ton. Wheat bids- for spot delivery were mixed today on the Portland Merchants exchange. Blues tem was down lc, club and fortyfold 1C red Russian' unchanged .and red fife 2: higher. No sales. Oats bids on the exchange were showing a loss of yesterday's advance of a quarter with no sales. Barley was unchanged. Much strength! is shown in millstuffs aad there are forecasts In the trade that $341 will again be reached for bran. It is stated that only a handful of mills are operating in the northwest and mof t of these will close June 1. Stocks of stuffs are limited. On the exchange today spot bran was advanced 25c a ton with shorts 50c nigber. only saw was a lot of 1O0 tons June bran at $26.50. Merchants Exchange spot prices; WHEAT PRIG Wednesday. Toes. Mon. Bid. Ask. -BldH Blueetem ...$1.15 $1.17 $1.1 $1.17 Forty told ...1.12 1.15 L14 1.15 Club L10 1.13 Lll 1.13 Red Fife.... 1.08 1.10 1.06 1.06 U. Russian.. 1.04 1.09 1.04 1.04 OATS Feed 28.00 30.OO 28-25 28.00 BARLEY reed 23.25 24.00 23.25 23.25 MILLSTUFFS Bran ...... 28.0O 26.50 25.75 25 .50 Shorts ...... 26.50 28.00 26.00 23 Futures were quoted: WHEAT Bid. .$1.15 -. 1.16 . 1.13 . L10 . 1-11 . LIO . 1.06 . 1.05 . 1.04 . 1.01 Ask . $1.18 .1.18 1.15 1.15 1.13 1.14 1.13 1.13 1.10 " 1.10 30.00 3U.50 24.25 24.50 27.00 27.50 28.00 2820 June bluestem July bluestem .' June fortyfold July f ortylold June club 4 - Jnly club Jcne Red Fife July Red Fife Jcne Red Russian July Red Russian OATS June ;. .28.50 Juiy 28.50 00.1VWUA June July Jnne July June July . .23.25 ..21.00 ..28.SO ..26.75, BRAN SHORTS ...26.50 ,.27.00 Various Grain Markets. Omaha Cash wheat 23c lower. Corn, llc lower. Oats, c lower, Winnipeg Wheat cked. May, $1.58; July $1.56B. St. Louis Wheat closed, May, $1.46 ; July, $1.50A; Sept., $1.16B. MinneanoliE Wheat closed. May, $1.49; fjuly $1.44; Sept. 1.1SJ4A. ' . Duluth wneat ciosea, ay, i.ini uiy, $1.49A; Sept.. $1.20. Kansas City Wheat closed. May $1.45; Jnly $1.18; SepL. $1.13. 0. A. C. Cadets on ' Official Inspection Oregon Agricultural College, Cor allls. May 19. Captain William T. Merry of the general staff. United States, army officially Inspected the cadet regiment Tuesday. A. aumber of military officials ami citizens were present. Company E, commanded by Glen Roberts of Cove, received first place in the competitive company drilL Com pany M, of which Luther King, Ct tage Grove, is captain, was given sec ond place. ; The competitive rifle drill resulted as follows: - - Sergeants, M. T. Jenkins of Portland, company L first; J. A, Straughan of Pendleton, company M, second; A. A. Amort of Corvallis. company F, third. Corporals, I. P. Spauldlng of Lowell, Mass., first: "W. Wilkes, Hillsboro, com pany I, second ; W. G. Carter Of Aberdeen, Wash., company A, third. Privates, E. H. Eastman, Fort Sam Houston, Texas, company M, first; W. W. Boyer of Portland, company K, second.- ''..'". SUES TO RECOVER $3000 Lr. S. E. Joseph! today sued C. C. Shay" to recover $3000. alleging that in 1910 Shay sold him stock In various concerns for $2000. agreeing that at the end of, two years he would pay Dr. Joseph! back $3000 for the stock should the physician elect to take the money Instead . of retaining the stock. Dr. Joseph I said he had . demanded the money, but that Shay had failed to make good his offer.v s . ' Steel Corporation . Shares in Better 1 Call Af te? Report New York. May lsX-O- 8.) Listed stocks were Irregular at the opening of tbe market "Tbday . Trading was qniet. Some im provement was noted In the copper and Indus trial shares. Bails were under pressure. Mexican petroleum was the big feature' in the early trading. There was a good buying movement in the stock.; It opened at 67, reacted somewhat and then advanced slightly. Reports regarding tbe German-American sit uation overnight were more optimistic and were reflected In the. better feeling today. Bank interests,; it was reported today, are working to keep the market around the pres ent level. United States steel stock was strong. Presi dent Farrel'a statement that the steel corpora tion was operating 75 per cent of capacity, or OO per cent of normal, ! brought about good buying In that company's stock. In the industrial issues, WestingbooBe con tinued ia good demand. , There was some ad vance In the issue. It sold op to SS after opening a point lower. American Can was soft. Missouri Pacific declined to 10 before noon. Beading was weak. Southern Pacific was steady. Copper shares were strong. Range of New York prices furnished by Overbeck , Cooke Co, 216-217 Board of Trade building: ; DESCRIPTION I Open ) High! Low Cloe Amal. Copper Co. . .... I 66 j 66 05 oc r - c 1 00 1 00 &o CO 32 44 Vj 43 American Can, c ,32) as 32 am. jotton oil, c 1 441 44H 44 43 64 Am. Loco.. C..........I 43( 43 A1U, DUX&T, C '.'. I .... .. ... . American Smelt, C-...I 65 j 65 105 64 am. xej. ee J.ei m 1119 119 118 Anaconda Mining C0...I 31 I 81 31 31 26 98 71 43 132 86 157 35 28 88 a. in. ooieu, c. 1.. Atchison, c .1 98 I 98 98 71 43 V, Mil. c uora, C........I ti Beet Sugar ..I 43l 44 Bethlehem Steel, e....ll;i 1134 132 157" 35 "297 8il '4i' 40 Bklyn. U. Transit. t canaaian raciiic. c ...157I58 ueutrai Leather, c... Chi. A Gt. West, c. ChL Gt. West., pfd. Chi M. &. St. P. . .. 35 i '29" 89 '42 42 '29" 89 '42"' 42 ChL A Northwestern, c 124 ccino copper Chesapeake A Ohio . . Colo. Fuel A I., c. . . . Colo. Southern, c... Consolidated Gas .... Corn Products, c Delaware A Hudson . Den. & B, Grande, c. Erie, c -.... General Electric Great Northern, pfd.. Ice Securities ....... Illinois Central 1 n f pr HarveKter 25 27 122 123 123 25 'jot' 30 1W, 122 125i 1 117 A 6 25 36' " 30 6 o- 6 :s 150 20 29 105 '26" '26 41 32 -A 29 29 loo 105 92 20 Inter. MetropoUtan, c. .20. 21 Lehigh Valley . 140 b.. C. Southern .... Goodrich .......... Alaska ............ L. A N M-, K. A T-. c... Missouri Pacific.... 26 26 -6". 41 33 115 11 10 56 14 61 84 27 102 73 103 20 106 114 43 42 32 42 33 11 11 10 NaUonal Lead 57 &8 &7 Nevada Consolidated . . I 14 I i t 14 New Haven I 61 62 61 Ntw York Central.... (... N. Y.. O. A W I... Norfolk A Western. CI102 1102 102 North .American I 74 74 73 103 106 Northern Pacific, c i'ac ,M. S. S. Co... Pcun. Railway...... P. G., ' I. A C Co. Piessed Steel Car, c Bay Cons. Copper. . Reading, c 103 104 ii67'io7N , 42 1 43 42 22 22 14Z 14i141142 Kt public I. A S.y c Pru.lr lldnri r. 1. 26 2 26 26 26 22 St. L. A S. f.. 2d pf. hocthern Pacific, c... Southern Railway, e.. Tenn. Copper.. ........ Texas A Pacific Union Pacific, c. . . . . . Union Pacific, pf. U. S. Rubber, c....... U. S. Steel Co., c... U. S. Steel Co pf.... Ctab Copper...;...... Virginia Chemical Wabash, c W.r U. Telegraph W estinshouse Li ec trie. Wisconsin Central, c. Studebaker 4 86 16 4J. 87 16 33 '4 86 4 864 10 10 32, 32i 32 124 124 L?3 124 M) 60 62 6 52 "0 60 62I.5J 106 UiM Uft5 ,10 63 " 87 3 28 I j 87 .1 ...j 64 I 64 884J , '64 Hit 64 i 4 lotai sates 195,600 shares. Teel Irrigation Bonds to Be Sold Reaie.ri bids for the Durchase of $800,000 six rer cent bonds, author ized May 4 by the board of directors of the Teel irrigation district, rwill be received by J. Frank Spinning; secre tary of the district, up until Tuesday, July 16, at 2 p. m at the office of the district at Hicno, umatiiia county. No bid will be received for less than 90 and the directors reserve the right to reject any or all bids. All itenders must be accompanied by a certified check for 5 per ' cent of the par value of the bonds bid for,, payable to E. N. Latsey, treasurer ot i tne district.. The irrigation! nroieet comDrises 20 ooo acres. , une district was organized law. The bond issue under the state was authnriied'bv unanimous iVOte Of those interested in tne reclamation or till a mnii and tne leeailtv or tne pro cedure has been approved iby the courts. The project includes - con struction of a tunnel, and a rservofr containing 31.000 acre feet of; water. The balance includes open ditch work, flume and a secondary reservoir to hold about 8000 acre feet of water. All this will involve an estimated cost of $900,000, and will require 20 jmonths in -trie bulletins:. td oonas now of fered, however, do not provide for the construction of the reservoir. To be safe, the district t&oted $1,200,000 bonds, though this was far i beyond the maximum engineer's estimate. . . The project is south and west of the town of Echo- about 10 miles from the Columbia river and lying along the tracks or tne u-w. it. ac x. Bankers to Hold i Annual Banquet The sixth annual banquet iof the Portland chanter. American Institute of banking, will be held next Tuesday evening at tne crystal room oi tne Hotel Benson. l. JtlinK crygn, cnair- the entertainment committee. is exDectina? a large attendance, me chapter elected directors and delegates to the ' bankers' convention at San Francisco and Seattle at Its meeting last week. J ' ... " - ' rr Andrew C. mnn win do toast master-. - The speakers or tne evening win b Archibald O. Kains. governor of the federal reserve district for Cali fornia, whoee sunject wu De ine r ea eral Reserve District"; Balph S. Stacy, nruiiiMit of National bank of Tacoma and Fred I. Weber, retiring president of the local cnapter , - The institute is of educational ob ject, close study of all financial influ ences being made a part of the regu lar curriculum. Lecturers discuss cur rent movements of finance at the peri odical meetings of the institute and h organization undertake also to embody social features. , University Professor Co-respondent New Tork. May 19. (I. N. S.) Pro fessor Curtis H. Page of Northwestern university . and I seven others were named as co-respondents .: in divorce proceedings instituted here today by Henry , Lleoman, millionaire urewer. t....... TrvnmlM s fiovernor Dies. Mr rm ."- - . 0 e - - 9 Cheyenne, .Wyo. May 19. (X. N. g) xr. Amos W. Barbour, governor of Wyoming daring the cattlemen's war in 1893, died today following an operation at Rochester, Minn., accord ing to advices received here. , Overbeck & Cooke Co. - stocks, Bonds. Cotton, Grata, zte. ; 816-317 Board of Trads Building. DIRECT PRIVATE WIRES TO ALL EXCHANGES Members Chicago Board of Trade. Correspondents ef Logan Bryan, . , : Chicago, New York. - GENERAL BUSINESS NEW! Big- Crops Aid Business.. "The most, hopeful signs of better times that I X have observed are the prospects throughout the entire coun try for record breaking crops this year," remarked' Charles W. Hand of New York, vice-president of the Un derwood Typewriter company, at the Benson -hotel yesterday. Mr. Hand is making his first visit to the Pacific northwest and lis accompanied by sev eral members of "his family. "Good crops are- the basis of all prosperity and with the exception of Ohio, where rain lias been lacking, there ia every indication of great yields this season. 1 look for business to become better, little by little, but better. There will continue to be some uncertainty until this German situation is settled, but I look for an amicable solution of the affair. Judging by my own company, I know business is Improving, as we are now running five days a week and are turning out about 600 machines a day. Our weekly output before the war disorganized our export : trade was around 3500. Naturally we are grate ful to you people of the West for taking our product." Mr. Handi kdvises every one to keep cool, suppOrjtj the president in the present emcrgerjdy and attend the Panama-Pacific exposition, for im provement, is bound to leome, he says. South American Trad. M " Director Wilson of tie Commercial museum of Philadelphia, in a recent statement points to theffact that ex port and Import trade? between the United States and SotAh America is showing an impressive increase this year. Exports, for March were 32 per cent larger than they were a year ago and Imports 30 per cent better. Of 13 South American countries exports were smaller from only three countries Bo livia, Chill and Paraguay. "Over one-fifth of the products im ported from South American during the month of March came from Ar- BRANCH BANK MAY YET BE LOCATED IN Federal Reserve Manage ment Said to Be Consid- ering Several Cities. Reports from New Tork have it that the federal reserve board is about to undertake consideration of the plan of opening branch reserve banks -in a number of the financial centers of the country. Among these are Portland, Seattle" Denver, Helena, Baltimore, New Orleans and San Francisco. How far this consideration has pro ceeded is not known here. Charles a. "Hamlin, governor of the board, indi cated during his recent visit In Port land that such consideration had not been seriously started. The whole system itself was so new, he said, that the board wishes to get the- main banks in fullest operation before it at tempts to ' reorganize and disturb the system by dividing the activities of these banks. . The board has reduced the discount rate at the San Francisco bank to 3 per cent on 30 day maturities; 4 per cent on 30 to 60 day maturities; 4 per cent on 60 to 90 ! day maturities and 6 per cent for longer periods. Telephone Company 'W Earnings Increase Net earnings of the American Tele phone' & Telegraph company for- the first four months of this year have been increasing nearly' twice as fast as the gross, according to recent fig ures. It Is estimated that -the surplus earnings of the system are' nearly $1, 000.000 ahead of the last year. It has been- estimated that the new construction planned for this year will total less than $35,000,000, a decline of $20,000,000 from last year. This Is said to discredit , rumors that a new financing plan is afoot. - FINANCIAL NOTES Boad Enters Market. The" Southern Pacific entered the steel market -last week with an order for 6500 tons of tie plates. .The Santa Fe ordered 2400 tons of steel plates and bars. i I. - ' , y j " Bank Resources Gain, Resources of - the state banks and trust companies of Missourf increased $20,000,000 in four months, according to compilations Just announced by the state banking department. Deposits increased more than $18,000,000 and cash balances more than $18,000,000. Named Chief Examiner. John C. Chidsey, a banker of Fort Worth, Texas, has been appointed chief federal bank examiner for the district of St. Louis. Dividend Is Declared. The Tonopah Extension Mining com pany has Just declared a .dividend of 5 per cent and an extra dividend of 6 per cent on stock oi record. Jcne 10 and payable July 1. Three months ago tne cosopany neciarea a aiviaena or ZVt per cent, an uirs aiviueug ot 2lA and a special dividend of 24 per cent. . i To Offset Exchange. , - To offset tne exenange situation in Spain, which is now against this coun try for the first time irt years, $50,000 in gold has Just been withdrawn from tbe New York subtreasury for export to Madrid. To Sals Big Sum. . ; x i Portland itaiiway, iigni as rower company's recent refinancing plan of iaauine- $5,000,000 each in two issues of preferred stock and retirement of $5,000,000 common stock is not. tbe only activity in American public utili ties. The Wabash-Pittsburg Terminal railway is considering assessment of ttm rirt mortcasre bonds, the ralsinr of from $8,000,000 to $12,000,000, and issue of a new seriesor common stock. Bankers Will Meet at X ban an. Lebanon will entertain tne conven tion of Grouo 2. State Bankers' asso ciation, comprising the banks of Linn, PORTLAND BY BOARD The Oldest Bank in the Pacific Northwest cordially invites your account subject to Check or in its Savings Department, with the assurance of courteous treatment. CORNER WASHINGTON AND THIRD ESTABLISHED I8S9 a. e-enune. uirecior wuswn saiu. ,m nnrta from Brazil increased by $300, 000, and from Chill $992.&54. Coiombi, gained nearly a millioni dollars. Iin ports from Argentine increased 40 per cent. Statistics obtained; front the Ne Vn.lr .t,,TYl kmiA KVinxif that t tl A 31 4 ports from that port tof5outh America last month totaled in value $9,180,46S, compared with $6,928,474 for March. 1914. The sume figures! show export: to Argentine were valued at $4,365,231 compared with $3,107,602 for March t year ago." Xee raotory Project. The Stevenson lace fctory project which the Eugene Commtrctal club ha; had under consideration for several months, has been deferred by the fac tory committee for a time. "Action wat taken after reports on thie general con-: dition of the lace market and Industry had been received. Present unsettled conditions of the industry, due to war and other causes, was jthe actuating reason behind the organisation's action.; To Haul Coppar Ore. Arrangements will be Completed this' week with the owners ofj several large auto trucks of Portland o haul copper ore front the Queen of JJronze mine in Josephine county to jtho railroad.) Tucker, who has a lease: on the prop- erty, says- he has 600 tons of fine grade! ore ready for transportation to Grants Pass for shipment to tht smelters. He also expects to put a creir of miners to' work. The auto trucks Will be put in ! operation as soon as the condition of roads permits. Tucker was in Portland several . days ago negotiating for trucks Coal Briausting Plant. " Plans have Just been completed at Kelso, Wash., for the construction of a coal brlqueting plant iat the Hunt ington . mine near Castle Rock. The plant will not be in operation until the middle of September uindcr present plans. L. A. King is president of-the mining company. LONG TERM BONDS "Safety First Principle Is Ap plied More Than Ever," Says Bank Circular, "Safety first" is belflg applied to investments more now than ever be fore, according to the May financial letter issued by the Wells Farito Ne vada National Bank of San Francisco, which has Just been received in Port land. ,1 . "The quick sucrexs of the Pennsyl vania railroad $65,000,000 4H per cent bond offering points the way to successful financing by other roads which are in -need of money to pro vide new equipment and arrange ul timately for the resumption of addi tional construction work," continues the .letter. "It shows alo that future new capital applications will so far as possible take the rorrh of long term bonds rather than the more t'OKtly ex pedients of temporary financing. The public ia investing its money on the 'safety first' principle and within the last two or three weeks there has been a 'pronounced enlargement of such business. This movement mav be ex pected to expand during the next month or two owing to the inclination of both individuals and lntltutlons to find profitable employment for the surplus funds which are usually avail able during I the semi-annual dividend period. An interesting feature has been the partial support from Invent ors In other countries who have sought to secure their incomes through the purcbawe of high grade securities out side the war area. This buying of course has been insignificant compared with what, the foreign support ordi narily is in normal times, but it shows that American securities are highly prized by investors in all parts of the world. Except for the Amerlcnn par ticipation in the new $60,000,000 Ar gentina loan and possible advances by bankers direct to certain of the bel ligerents, there have been no lars;e loans made to foreign borrowers dur ing the past month.- "Various states and ' municipalities will be in the market for new capital before long. Owing to the large out put of foreign government loans, of fered at prices snowing an inveutment yield of 5 or per cent, it is evident that the new security issues must show a pretty generous return in or der to attract investment support. American bond buyers have not yet become accustomed to foreign se curities and, if satisfactory interest rates are offered, they prefer to buy those put out by domestic borrowers. One of the most interesting signs of the times has been the absorption of securities by small investors who usu ally have; from $600 to $10,000 tos in vest. Such buying is the surest" in dication of restored confidence and is today an important element in the investment situation." Lincoln, .Benton and Marlon counties, Friday. The program will Include ad. dresses by leading bankers of this ter ritory and an address of : welcome will be delivered by the mayor of Lebanon. Comparison of Fortlaaa streets indelibly impresses on your mind the quality word in . the pavement world. BITULITHIC FOUND MORE INVITING IN FINANCING ROADS .i .