FOREIGN DEMAND FOR 'CEREALS IS
CHINOOK WITHERS THE
PRICE FOR EGGS IN
IT ST.
Market Drops Sharply as JSxpectert
and Every Indication Point to
Still Greater Declines California
'Stocks Are Heavy Here.
EGO THADJt SEXORAXIZZS
With enormous receipts the market for ergs
W thoroughly demoralised. While the trade
la iaril vu asking- S840c sarly is tho
day, offers to ull at S7 -vara refused by
bnyr and it was forecast that a 8o market
weald bo foroed at oaea.
A real chJoook bis struck tho ezt Biarkct
along tho wholesale way and pricca havo suf
fered accordingly.
Sales of fresb ranch egg-s were reported
along tho street at 38 to 40c a dosen during
the morning and there was no telling bow
fast the market would drop later.
Quite heary receipts of fresh California eggs
were due. from the Petalnma district daring
the day. These eggs cost 34c io "the south
and the freight charges were fractionally
more than He a dosen. Therefore cartage be
ing figured, it is safe to say that these auii
plies did not cost the trade here more than
89c a dozen.
That the Portland egg market has been
manipulated generally daring the last week
Is now openly admitted by leaders of tbi
trade. - Hiose that had eastern storage and
California eggs were the chief interests in
forcing the price here to the highest mark of
any market along the coast, a most unnatural
condition.
Quite liberal stocks of eggs ere carried
over from Saturday by Front street and tbesa
were being freely offered at the tower prices
during the day.
ORANGE MARKET IS HIGHER
Market for oranges ia showing Its expected
advance with a "general rise of 25c a box along
the street. Fancy Is quoted at X2.25Q3.25,
with standard ranging from 12.25 to 8.00.
Higher prices m the south the cause.
GASOLINE IS UP A CENT
Another advance of lc a gallon in the price
of gasoline ia being quoted locally with a sim
ilar rise along the coast. Wholesale price
ia 15Vjc and the retail price at ltftc Naphtha
Is up a similar amount at 16 Vic.
WALTER- DERTHICK IS DEAD
Walter Derthick of Derthick Bros., the well
known commission men of Front street. Is dead
after a week's illness. Mr. Derthick. while
one of the younger men of the street, had
col trol of the dressed mest trade.
GOOD CAUUFIiOWER SCARCE
Beal good quality cauliflower is very tcarce
along Front street and the price ia being held
film, although unchanged. Other vegetables
are source, but are selling at former prices
generally.
CHICKEN TRADE HOLDS WELL
Trade in the- chicken market along the
atieet is holding well st full prices for gual
ltv stock. Receipt recently have been below
requirements.; All lines of poultry are hold
ing steady. ; '
BRIEF NOTES OP THE TRADE
All dressed meets steady.
Butter market Is firm.
Cheese firm st unchanged prices.
Sugar market gaining strength.
Ouiona ar firmer at S2.SO in a wholesale
wsy.
Demand for apples better at former prices.
SHIPPERS' WEATHER NOTICE
Weather bureau sends the following notice
t- shippers: Protect shipments during the
seat 48 hours ss far north as Seattle against
minimum temperatures of about 42 degrees;
northeast to Spokane, 32 degrees: southeast to
Boise, 32 degrees; south to Ashland, 40 de
grees. Minimum temperature at Portland tt
night about 42 degrees. -
JOBBING PRICES OP PORTLAND
These prices are those at which wholesalers
sell to retailers, except as otherwise stated:
f Dairy Produce.
BUTTER City creamery cubes, extras,
82c; firsts, 30c; seconds, 28c; prints snd car
tons, extra; country creamery, cubes, 2529c;
Storage. 24 25c; Oregon dairy, 184$ 19c.
BUTTE UKAT Portland delivery So. 1 Sour
crearu, 32c; No. 2, 80c.
EGOS Selling price by dealers, delivery
extra Selected freh 3840c dozen; -case
cvnnt. Oregon ranch, 3738c.
LIVE POULTBY Hens, heavy Plymouth
Hock. Id's 17c ; ordinary chickens. 13i16c;
springs, lHfti- lbs., ia17e per lb.; turkeys,
23c; dressed fancy, 25s2ac; culls. 20021c;
pigeons. $11.25; squabs. $1.20 doaen; geese,
live. 1010Vc lb.; Pektn ducks, old. 16c lb.;
young aud heavy, 18c; Indian Bunners, 13
JACK RABBITS Fancy. 25050c doaen.
CHrJE&Er Sibling price Yeu Oregon fancy
full cream twins and triplets, 20c per lb.;
Young America. 21c. Price to jobbers: Fists,
lttc; Young America, 20c f. o. b. ; cream
brick, 18$$20c; llmberger, 20c lb.
Fruits and Vegetables.
FRESH FRUITS Oranges, fancy navel,
2.25&3.25; bananas, 5c lb.; lemous, S3.O0
4.50 box; grapefruit, Florida, S4.50&5.5O case;
pineapples,- 7 8c per lb.; pears, $1.75g2.00;
grapes, 7c per lb.; tangerines, S1.&0 box.
APPLES Local, S1.22 per box, according
to quality.
' ONIONS Local, $2.50 per cental, association
selling price carloads, $2.00 f . o. !., country
points: garlic, 15c lb.
POTAIOES Selling price Local Sl.OOQ
2.00; buying price, $1.35 per cental; sweet,
$2.753.O0. -
VlXiET?ABLES Turnips, $1.00; beets, $1.00
per sack; carrots, $1.00 per sack; paranlps,
$1 sack; cabbage, S1.75&2 per cwt.; green
onions. 20c per dosen bunches; peppers, bell.
15c; head lettuce. California, $2.50 per crate;
celery, California, $4.75; cauliflower, Cali
fornia, $2.25 per crate; French artichokes,
$1.40; string beans, 15c; hothouse cucum
bers ( ) dozen; tomatoes, California ( );
egg plant. 15c per lb.; sprouts-. 8c per lb.;
cranberries local. . $10.50; eastern, $11.00
12.00 per barrel.
Meats, Fish and Provisions.
'- DRESSED MEATS Selling price Country
killed: Fancy bogs, 9&9c; poorf 7H8c;
fancy veals, 12l2Hc; ordinary, lie; poor, 7
fe8c; goats, 2H4c; spring lamoa, 10c; mut
ton, 6 8c lb.
HAMS. BACON. ETC. Bam. 15i5I20c?
breakfast- bacon, 18ji2Kc; boiled hams. 28c;
picnic, 10o: cottage roll. 13 He; Oregon ex
ports. Iltgl3c per lb. '
OYSTERS OJympia, per gallon, S3; canned
astern. 36c can, $0.60 doaen; eastern in shell,
$1.85 per 100; rasor clams, 12 Vac dosen; east
ern oysters, per gallon,, solid pack, $3.00.
FISH Dressed flounders, 7c; steelhead sal
mon, 12c; perch, 78c: lobsters, 25c; ellver
smelt 8c; salmon trout, 12Hc lb.; haHbut,
H12c; Columbia amelt, 8 0c; torn cod, 7c;
black base, 7clb. ..
CRABS Ijirge, $2.00; medium, $1.50 doaen,
atandard, 1094c.
LARD Tierces, kettle rendered, 13c;
standard. 12e.
Groceries. ''-.'
SCO A It Cube, $7.15; powdered, $7; fruit or
berry, $6.73: beet ( ); dry. granulated,
$0.75; D yellow, S5.85. (Above quotations are
SO days net cash.)
BICE Japan style No. 2, 44c; New Or
leans, bead. 3sVtC; blue rose, Btfre.
SALT Coarse, half ground lOOe, $10.55
per ton; 50s. $11 JO; table dairy, 50s, $18;
iOs, $17.50; bales, S2.25; lump rock. $20 per
ton.
BEANS SmsJl white. $7.25; Urge white,
$7Jffl- pink. $5.75; llmaa, $8.00; bayou. $0.75;
red, $o.S0.
Hops, Wool aad Hidss.. ' ?. :i ,
.HOPS Nominal buying price, 1915 crop,
choice. 1212Vdc lb.; priue. 10ailc; medium
to prime. 79c - i . -
" S2BT N"w' $3.2593JI0 per ease.
; WOOL Nominal, 1913 clip: Willamette val
ley, coarse OotawoW. 2SQ28c; medium 8hron-
HiDESSslted hldee 25 ttsC and up), l4e;
Jlt?,.,5" ,&S 1,f-'.an'1 P. His salted
''.Hi-.!? 25'n)' salted calf up
to 15 lbs.), ISc; greea hides (25 lbs. and op).
V50lb- " P.
?,p',ll5,J.tfo 25 16e: rre
to, XS lbe.)r' 18c; dry Clint sMes, 25c; dry
nint ealt (up to f lbs.). 27r dry salt hides,
20c; dry- horsebides, each, 60c$1.00: salt
boraehide. each $2.003.00; horsehair, 25c;
dry long wool, pelts, l(ic; dry short wool pelts,
12c: dry sheep ah sarin gs, eaeh, lOOioc; aalt-
FRO
TRADING
Farmers, Trying to
Force Potatoes to
Much Higher Price
Front Street Is Generally . Quoting
$2, Bat Prodncers Want This
Mnch ThemselTes.
Farmers are holding' potatoes for extreme
prleee at country points and even then It la
Impossible at the moment to replenish sup
plies atone front afreet.
Potatoes arc generally selling at $2 a cental
along the street with the market very firm at
that extreme.
While heavy supplies of Canadian potatoes
have been ordered for this market, none have
yet arrived. Just when they will come for
wsrd depends upon weather conditions, which
will make shipping from the north possible.
Some of the dealers who were caught short
of potatoes and have been forced to- purchase
from their more lucky competitors at ex
treme values, are spreading the report that
there is plenty of stock available on the
street, bat this Idea is more of the mind than
an actual fact. Front street did not advance
the price of potatoea until Its stocks were
nearly exhausted. Even then the country ia
asking" just as much tor potatoea aa Front
street is willing to sell at lust now, therefore
the trade figures that It would be foolish to
sell at low prleee and the a be compelled to
repurchase for more.
Chiqago Wheat Has
Weaker Start and
Lower Price Range
Chicago, Feb. 7. (I. N. 8.) Orsin prices
were down in the opening pit trading today.
Selling was- on an enormous scale and the
bulla failed to bold their position against the
pressure. It was argued that the market
essentially la aa bullish today as at any time
during this movement, ' considering that North
America of necessity, most be the principal
source of supply for some time to come.
Today's sales were said to be to a large
extent the profit taking on purchases made
wben the German note last week .sent prices
down only to see them come np on the fol
lowing day. in corn, the long interest seemed
to be fairly well eliminated with a, large
short Interest accumulating. The oats market
is scheduled to follow corn. There was a
pronounced bearish sentiment today. Liquida
tion has been heavy.
May wheat opened at 133 and fluctuated to
a level about lfec lower. July opened at 1244.
The most serious drop during the recent
dull movement waa recorded In wheat prices
today when closing quotations were posted at
127 for May and 120T tor July, from open
ings at 133 and 124 respectively. While
corn and bats declined more thhn lc. the
trading plane in these two options waa at all
times steadier, although not so active.
Range
beck &
building :
of Cbloago prices furnished by Over
Cooke Co., 210-217 Board of Trade
WHEAT
Open. High. Low. Close.
133 133 127V4 127
124 4 124 120 120
; CORN
77 7714 75 75B
77Vi 7714 75 76
OATS
49 49 47 47A
46 40 45 45 B
PORK
203O 2040 2013 2032
2036 2045 2026 2037
LARD
.,..1002 1012 1000 1006
1020 103O 1020 1022
RIBS
1087 112 1092 1100
1107 1115 1107 1115 A
Hay
July
May
July.
May
July
May
July
May
July
May
July
AMERICAN LIVESTOCK PRICES
Denver Hogs $7.90.
Denver. Feb. 7. Cattle 1200. market slow.
Beef steers, $6.50ft7.50; cows and helfera.
STi.0O36.23; stockera and feeders. S0.O07.25;
catves. S8.0OlO.00. , (
Hogs 2400, higher. Top $7.90; bulk $7.65
7.75.
Sheep 800, slow.
St. Louis Hogs $8.25.
St. Louis, Mo., reb. 7. (1. N. S.) Hogs
Receipts 20.000. higher. Plga and lights,
le.fKNS8.15; mixed and butchers.. $7.958.20;
good heavy, $8.20S.2S.
Cattle Receipts 4800, steady. Native beef
steers, $7.509.50; yearling steers snd heifers
8.50(g9.35, cows 3.50$7.o0; stackers and
feeders. $5.507.25; southern steers, $5.25$?
8.50; cove and heifers, $4.006.50; native
calves, $6.0011.50.
Sheep Receipts 2.000, steady. Yearling
wethers, $S.OO0.50; lambs, $0.0011.10; ewes
$0.25(37.50.
Kansas City Hogs, $8.50,
Kansas City, Feb. 7. (I. N. S. Hog Re
ceipts 11,000, steady. Bulk $7.707.95; heavy
$7.908.50; packera and butchers. $7.75S.OO;
light, $7.O07.9O; pigs. $8.007.00.
Cattle Receipts 13.000, lower. Prime fed
steers, $3.50(39.25; d reared beef steers. $7.00
8.40; western steers, $6.50&8.50; cows, $4.25
&8.40; western steers. $6.50(8.50; cows $4.28
6.76; heifer. $8.00feS.75; stockera and feed
ers, $6.0037.86; bulls, $3.006.50; cslves.
$6.50(810.50.
Sheep Receipts 9.000. steady. Lsmbs $10.25
10.80; yearlings. $8.769.50; wethers, $7.50
(SS. 25; ewes, $7.00(7 ttS.
Omaha Hogs $7. SO.
Omaha. Feb. 7 I. N. S. ) Hogs Receipts
13.500, lower. Heavy. $7.60(37.80; light, $7.40
7.70; pigs, $6.5O&7.50; bulk of sales, $7.50
67.63.
Cattle Receipts 8.500, stesdy. Native
steers $6.25(8.25; cows and heifers, $3.35&
6.75; western steers, $6.007.60; stockers
and feeders, $5.507.50.
Sheep Receipts 12,500. stesdy. Yearlings,
$8.4O9.40; wethers, $5.OO8.00; lambs $10.30
10.80.
Seattle Hogs $7.95.
Seattle. Wash., Feb. 7. (P. N. S.) Hogs
Receipts 1500. steady. Prime light, $7.95;
medium to choice, ' $7.75(37-80; amootb heavy
$7.457.50; rough heavies, $6.85 6.90; pigs,
$6.257.25.
Cattle 75, steady. Best steers, $7.75(37-85;
medium to choice, $7.3S7.50; common to me
dium, $6.O06.75; beat cows, $5.7Tje.25; com
mon to medium cows, $3-5O5.00; bulla, $3.50
tjc.50; calves, $5.5068.50.
Shee) None, steady. Lambs $7.258.25;
yearlings $7.fiO7.75; ewes, $5.506.50.
Chicago Hogs $8.15.
Chicago, reb. 7. (I. N. 8.) Hogs Receipts
6000, firm. Unchanged to a shade above Sat
urday's average. Bulk $7.85(38.10; light, $7.60
08.10; mixed, $7.758.15; heavy, $7.70(38.15;
rough. $7.70&T.80; pigs, $6.257.30.
Cattle Receipts 21,000. weak. Native beef
steers, $6.359.0; western steers. , $6,603
8.15; cows and heifers, $3.15Q8.20; calves,
$8.OW311.0O.
Sheep Receipts 18,000. weak. Wethers,
$7o8.15; lambs, SS.5O011.15.
DAIRY PRODUCE ON THE COAST
Baa Trsncisos atarkat,
San Francisco, CaL. Feb. 7. (TJ. P.)
Butter Extras, 30c; prime firsts, 29e;
firsts. 1 28c.
Eggs Extras. 82C; pullets. 1C.
Cheese California fancy. 17c; firsts, 16c.
Seattle Markst.
Seattle Feb. 7 (TJ. P.) Butter Native
Waabington. creamery brick, 84c; - ditto solid
pack. 33c. - -
Cheese Oregon triplets, 20c; Wisconsin
twins. 21c; ditto triplets. 21 e; Washington
twins. 19c; Young America. 22c.
Eggs-5elect ranch, 46c; April storsgs, 33c
Loa Angeles Market.
Loa Angeles. CaL, Feb. 7.(P. N. S.) Eggs,
case count, 30c.
Butter Freah, extras, 34c
ed sheep shearings, each. 15Q25&.
TALLOW No. J, 55c; No. 2, 425c;
grease, 83He.
C4I1TT1M OR CASCARA BARK Bnrlng
price, per ear lota, ee; tees than, car lota, SVaC
MOHAIR 1815, 28c. v
jj. ,-, f i- Paintarsjld Oils,
' LINSEED OIL Raw bbla.. 86c gallon; ket
tle boiled, bbia.. 88c; raw, cases. 91c; boUed,
cases, 93c gaL; lota of 250 gallons le lass.
COAL OIL Water white. In drama and
Iron barrels, lOc.
TCRPKN'TLNK Tanks, 7c; cases. Tie gal
lon. v- .- ., - .
WHITE liAD Too lota, 8e lb.; 500 lb.
JoU,' c; lass lots, Se per lb, -
OIL - M EAL Carload. , sots, $34; less) than
car lots, $35.50. , ' ,
. G ASOLLN 1 Bulk, 14c per gallon. , ,'
EUROPE AND EAST ARE
FOR
T CEREALS
Abe Oohn, of Northern Grain He
"Warehouse Company, "Report
Very Good Demand Atlantic
' Coast Shipments Are Heavy.
NORTHWEST GRAIN RECEIPTS.
Wheat Barley Floor Oats
Cars
Hay
Portland Mot. 1
Year uo. 105 8 ia 2
S
1494
1457
"34
1655
2377
6
19
2967
3311
Season to date. 8,066 . 1304 1111 792.
Year ago 13.403 1490 1586 1538
Taaoma Sat
Year ago 38 5 13
Season to date. . 5.717 486 .... 249
Year asro 7.602 435 435
Seattle Sat. .. 11 2 1
Year ago S3 16 5 4
Season to date. . 6.629 1065 1535 728
Year ago 6,124 876 1622 922
Abe Cohn ia back and with him comes re
ports of the great demand for all Pacific north
west cereals from the east. Cohn wss back
in his office 'at the Northern Grain A Ware
house company for the first . time in a num
ber of weeks. He hsa visited practically every
part of the United States since his departure
1 rem nere and reports things booming In a
cereal way at Atlantic coast ports.
Heavy sniDmenta of facirlc northwest
wheat are reported from practically all At
lantic coast porta and additional chartering la
reported every day or so. Oohn reports that
hia firm took several ahlps for Atlantic coast
loading during the last 48 hours.
Not only la there a atrong demand for Pa
cific northwest wbaat In Europe and In the
eastern states, but the eaat la taking our
barley and oats. Conn reports a recent ship
ment of a cargo of Pacific 'northwest barley
from fhlladelphla.
Recent wheat prices have not been satis
factory to country Interests and less selling
has resulted in the Interior.
Broomhall .cabled from Liverpool that the
general tone of the wheat trade was firm.
but the market waa dull. Weakness In Ameri
can cables were of fse by firmer klanltobas and
winter offers. Spot,' Arm unchanged to Id
higher, with better inquiry for winters. Conti
nental buyers are becoming disposed to pur
chsse at present levels owing to the disap
pointing arrangements for moving Australian
and Argentine freely. Freights remain strong,
cexgoea irregular. Manitobaa and winters
opened lftd lower, later advancing to un
changed from Saturday. Plattea unchanged and
more steadily held.
Argentine weather unsettled with rain In
parts. Wheat movement is alow, with farmers
still Inclined to bold.
FLOUR Selling price: Patent. $5.60; Wil
lamette valley, $5.60; local straight, $5.00
5.40; bakers' local, $5.205.60; Montana spring
wheat, $6.30; exports, $4,9045.00; whole
whest $7.05; graham, $3.80; rye flour, $5.95
per barrel.
HAY Buying price. Willamette valley tim
othy, fancy, $16.00; eastern Oregon-Idsbo fan
cy timothy, $18.00; alfalfa. $20.O021.0O;
vetch and oata, $15.00316.0o; clover, $13.50
14 .00.
GRAIN SACKS 1916, nominal: No. 1 Cal
cutta, 1314c In car lots; less amounts higher.
MILLSTUFFS Selling price, carload lots;
Bran, $23.50; shorts. $26.00.
ROLLED OATS $8,6048.75 bbl.
Merchants Exchange comparative prices:
Monday Year ago.
Bluestem .104 158
Fortyfold 5 157
Club ..93 157
Red fife 94
Red Russian 93 97
With a very sharp decline in the Chicago
price at the closing, the market for wheat on
the Portland Merchants' Exchange waa, weaker
and lower. February bids showed losses of 2c
to 4c a bushel from Saturday. No sales.
February oats lost 50c a ton and. a similar
loss was shown in barley with no sales in
either line.
Merchants' Exchange February prices:
WHEAT.
Monday Saturday
Bid. Ask. Bid. Ask.
Bluestem 104 108 108 111
Fortyfold .- 95 98 97 104
llub 93 95 96 100
Red fife 94 .... 96 ....
Red Russian -.93 97 96
OATS.
Feed 2650 2750 2700 2800
BARLEY.
Feed 2800 3100 2900 3100
MILLSSTUFFS.
Bran ...2150 2300 2125 2350
Shorts 2350 2500 2300 2500
Futures were quoted:
WHEAT.
Bid. Ask.
March Bluestem 104 108
March Fortyfold 96 99
March Club 93 96
March Fife 95
March Russian 94 ...
FEED OATS.
March , 2750 2800
FEED BARLEY.
March 2850 S1O0
MILL8TUFFS.
March Bran 2150 2350
March Shorts 2350 2525
Midvale Steel Is
Buyer of Cambria
PhilsdelpMs, Feb. 7. (U, P.) The Mid
vale Steel & Ordnance company has pur
chased control of the Cambria Steel company,
according to official announcement. The Cam
bria stock sold st $81 a snare, but the num
ber of shares sold was not announced.
The announcement followed word that the
deal by which the Cambria company was to
merge with the Lackawanna Steel and the
Youngstown Sheet & Tube companies had
been abandoned.
Philadelphia. Pa, Feb. 7. (I. N. S.)
William H. Donner, prealdent of the Cambria
Steel company, today confirmed reported sale
of the company to the Midvale Steel & Ord
nance company at a price of $81 per share.
The deal waa consummated Saturday eve
ning, William E. Corey, prealdent of the Mid
vale company, Donner and B. T. Stoteebury
of the Drexel company, signing the papers.
. Issue New Bond Book.
The Harris Trust 4k Savings bank of Chi
cago has just prepared for free distribution to
investors interested in the purchase or sale of
railroad bonds, the 1916 edition of Its standard
publication, "Railroad Booda." containing In
formation valuable for the careful considera
tion of railroad bond Investments. All ths
principal railroad systems In the country are
covered and the information Includes three
years comparison of income account, classifi
cation of traffic, IO years' dividend reeoru.
capitalisation statement, detailed funded debt
and similar matter.
Buying Stock Cattle.
Cbehalla, Wash., Feb. 7. E. B."OonkUn of
Ontario, Or., la here and In company with
Charles Gesaell. at well known farmer living
at -Forest, will ' buy np . 1000 bead of stock
cattle for shipment to eastern Oregon ranges.
Milton Wheat at f 1.
J. H. Piper of Milton has sold the last of
hia crab wheat, some 2100 . bushels, to the
Peacock Mill company, the consideration be
ing $1 per bushel.
Liverpool Spot "Wheat.
Liverpool, rb. T.(L N. 8.) Wheat spot
No. 1 Manitoba, 14s 7d; No. 2 bard winter,
new. 13a 4HdV
StokV Bo-ads, Oottos,' Oraim, Sta.
tlMlT Beard cf Tzd BuOolac.
DIRECT PRIVATE WIRES
TO ALL EXCHANGES
; Umbra Chlcajta Board of Trad
.-- Corraaondenca of Log-ma Bryaa.
, JjCaicaaTO. New York.
HEAVY BIDDERS
NORMS
Overbeck & Cooke Co.
VERY HEAVY
Scarcity of Hides
A Strong Factor in
The Leather Trade
Greatly Increased Demand for Lat.
. ter Is Not Filled by Offerings
of Former.
The condition of the hide aid leather mar
ket ia Intensely firm at Atlantic seaboard and
this to a direct .aid to the local trade. Offer
ing of hldea her bar been not so liberal
recently because of the shortage in cattle of
ferings and the blockade of the railroad.
In the east, the demsnd for hides Is so
strong from leather manufacturers ttsat values
are being held high with no indications of
any Immediate lowering of quotations.
The record demsnd for shoes and the nnall
neaa of hide offerings to supply this want are
causes contributing most to the present
strength In the leather trade.
A late eastern advice ssys thst packer
hldea have started op at a lively pace lately
and several falr-alsed lots have been sold.
There has been a sentiment among the tan
ners for some time that these bides were low
la price considering the general activity
throughout this snd foreign countries, but
their offers did not snow the courage of their
ernvidtiona, because bids were a cent or more
below quotation. Nothing, however, resulted
until the market moved np; then there waa a
desira to get under cover before the opportuni
ties entirely vanished.
, A hundred thousand hides changed hands In
quick time and left a chain of thought which
stopped all expectation of a further decline
until the belligerents turn to peaceful pursuits.
Furthermore, while the great nations sre st
war, their demands are apt to change market
condition any day and rumors of new foreign
business ripen Into reality.
Even now reports are in circulation that
immense orders are about to drop into all
American mark eta. If so, hides must feel the
Influence of such vast trading and domestic
merchant pay the penalty.
Sentiment la that tanners have had their op
portunity, which few accepted, and now that
the tide haa turned, hldea will hold abuttal
wnere tney are ngni tnrougn xneir most un
favorable season, then If the war la still in
progress, prices will tend upward In step
with improving values.
Trading has been comparatively good for the
past 10 days and la expected to increase as
spring draws near.' Although the grubbing
season is now In full swing, reports regarding
the conditions of late pull-offa are more fa
vorable than usual. A minimum grub damage
la thus far the rule. Weather has been such
that other expected conditions, which depress
value have made winter hldea more desirable
than for several yesrs. Expert opinion is that
hides will remain about as now quoted, as
stocks are large enough to supply any demand
liable to come between now and summer time.
Farmers Eefuse to
Accept Wheat Cut
Walla Walla, Wash., Feb. 7. Because of
the slump , In the price offered for wheat,
and also because of the wintry weather which
has snowbound those holding their last year's
crop, the paat week has oeen an uneventful
one In local wheat circle. No sales of any
consequence have been made, according to
the dealers, snd the prospects are poor for
activity during the coming week.
More than three feet of snow covers the
wheat fields of the valley at this time, and
already the ground contains more .moisture.
It is said, than for a number of seaaons.
Farmers sre uneaay lest a audden thaw cause
freshets which will do heavy damage to grow
ing grain, as well as to summer fallow. Aa
the ground is not frosen, it Is expected much
of the water, even In seen sn event, would
find its way into the soil. Growing grain
has been subjected to no frees inj; weather,
as during all of the present cold snap there
has been a protecting blanket of white upon
the fields of this section.
BANK STATEMENT OP COAST
Portland Banks.
This week. Year am
Clear!
Monday
$1,898,643.41 $ 2,007.554.50
San Francisco Banks.
Clearings
.$10,345,864.00
Seattle Banks.
Clearings
Balances
.$ 2.265,517.00
291.006.00
Tscoma Banks. '
$ 290.61S.00
65.414.00
Clearings
Balances
Los Angeles Bsnks.
$3,751,252.00
Clearings
New York Cotton Market.
Open. High. Low. Close.
. 1235 1238 1235 1238
. 1184 1189 1180 11S4
January
March .
May . . .
1205 1208 1200 1204
July 1217 1222 214 1216
October 1223 1226 1217 1220
December .... 1233 1236 1232 1233
New York Sugar and Coffee.
New York, Feb. 7. Sugar, centrifugal,
$4-89.
Coffee Spot New York. No. 7 Bio,, 8c;
No. 4 Santos. 9c
j. i i is
mm : r .vim , t,. . vrr' r fe eww ....t. - - ' , m, .sllfiiTT s4A r j -a.- - . , J . ... . . . - - - - T sy. n s-p bsj
BEST MARKET IN THE NORTHWEST
- ' OUTLET FOR ALASKA AND THE GREAT ORIENT :
Prices 15c to 25c higher than any other marjket on the Pacific Coast, because it is the only yard in the United States' not controlled by the
trusts. It is clearly to your interest to patronize true competition.
NOW
tf.f Edit-i by
VALLEY HOGS: MOVE
25 CENTS
Only One -Io4 " of W1I unette
VaUoy Stuff Comes lrward
Over Sunday - 'inferior "Cattle
Sell at Similar . Rise During Day
PORTLAND LIVESTOCK B.TJM. -'
Hogs. Cattle. Calves). .Sheep.
Monday 79 44. -V ....
Saturday 184 ; .. ' ....
Friday 790 . i ....
Thursday, ,2487 20 28
Wednesday ...... n None
Tuesday 190 f 11 . .f ....
Week ago ....8179 10O- 8 976
Tear ago 3809 . 1428 3 2995
Two years ago. . .3137
Three years ago.. 1128
931
587
8871
S339
Willamette' valley nog's arc finding guar
anteed quotationa of $7.79 In the local, market
a sheer advance of 25c over last week' a
prices. There waa only one load of;awine la
the nog; alleya at North Portland for the day.
No shipments came forvrkrd from tne' interior,
therefore the extreme quality stuff waa not
given a test.
General bog market range:
Choice light weights
7.7S
7,65
7.50
Good light weights
Medium weights
Bough and heavy.'.
Cattle atarkat Advanced. "
Two loads of cattle found their
the- Nor Portland yarns over Sua
037.25
ty
7;
Into
of them being from Idaho.
Market for cattle la Intensely fl
Willamette valley Inferior quality sol
n with
: at 25e
brought
over what the same sort of stuff
last week. Top quality ' waa not giva A a test
daring the morning but , the sales of .Ite poor
atuff at the advance Indicated a nflch fir
mer tone.
General cattle market range:
Choice pulp fed steers -X.
Choice grain fed steers . . . .-.-r. ,
Ordinary grain fed steers..,..
$7 8007.65
7 4037.50
Ty407.50
. 7 25 M 7 .35
unoice nsy iea steers . ay.
steers.
000a steers -
6 736j".00
600tC6.50
Ordinary to' common steerw.
Choice cows A. ,
f - 6.75
.... 6.ooaa.5o
Ordinary to common cows -
Choice heifers 6.75
Ordinary to good heifers............ 4.60Q5.75
Choice bulls W. ......... 8.7594.50
Good to fair bulls 8.00&3.50
Ordinary to common bulla 2.002.75
Best light calves ...vaL.... 8.00
Good calves ?7. . . . T.6OQ7.50
Mutton lUrkei Ia Absent. '. ,
No supplies st all reached the mutton yard
at North Portland over Sunday. Trend of
the trade la naturally.'Weryl strong' but aa
nothing was available '
price were
not given any sort of '
Howerer, the
general outlook la for Stronger price.
General mutton and lamb range:
Choice weight lambs $ 8.55
Good to common lambeX . . . . 1. . . . . 8. 00 8. 35
Poor to fair lambs ......A..... 7.0CH37.23
Choice yearling wethera. .....I.... T.50$7.75
Good to common yearlings. .a 6.75t7.00
Old wethers F....A .656.50
Choice light ewes ? jUS&6.75
Good - to common -ewes. e.(X4io-23
Monday Livestock: Shipper'
Hogs
load.
Cattle
load; C,
load.
Geosge Zimmerman, Yai mi,
-Robert H.
A- Juntst,
GeOathy, Corv
Twin- .Fan, 1
a is,
tho.
Monday Mors&cSalea,
STEEBS-i
-TAve. Ibr
1242
eaase " 1ja 1005
Basaeeeaee,SL aXl
. AAA
No.
4 steers
6 steers
25 steers
16 steers
1 steer
4 steers
14 cows .
2 cows .
, 1 heifer
70 nogs .
6 hogs .
8 hogs .
Price.
$7.66
7.15
7.25
6.50
5.00
4.00
$8.15
5.75
( WW
' .. 850
V .. 670 -
...1333 ;
COWS,"
..1140
HEIFERS
HOGS..1
...y.....f
830 ' $6.00
... 174
.... ioa
... 3;
$7.50
S.50
e.50
J
POTATOES ALONG ..THE COAST
San Francisco H .irkst.
San Francisco, Cel.. .Jfii 7.- P.)
Potatoes Delta, $l,2631.Q0;-per cet al; Idaho
rnrals, $l'.5031.65; Idaho irussets. v$1.602:
Sslinss. $1.752.15; OrejrXl Burbanl a, Sl.OOfJ
175; sweets, $22.25. ''.
Onions Sl.73tt2.25 per- ftotal f . Califor
cla from Icehouse; . Oregotf- . (2.30Q' 50.
. Seattle X t.
Seattle. Wash.,1' Feb. 5," HV. P.) , Onions
Oregon, 2c; Yskima, 2' - .
Potatoes White rive .' $252K ; Yskima
Burbanks, $33635; Yaklm, : $eme $4.2334.
Hay Very t farce.
Hay ia so scarce In tti Hep'pner country
that Phlll Cohn of that lty has shipped In
several cars of alfalfa hi.y during the past
week which went to local stockmen. Feed Is
running shoVt nearly all over the county and
a large number of stockmen axe hauling
their hay.
niinsi nail i " i ii iniiii i Hi I
HIGH
ER TO
$7.75 IN LOCAL ARD
V 'lis
Firmer Tone Shorn
: In Stock Market;;
; Opening Is Higher
New , York, Feb. T. !. N. 8.) A firmer
market registered st ' top, la Wall a treat
today. This andoabtedry was do to the
mora peaceful tone of the news developing
ever Sunday oa the Tori tenia issue. ' Strong
Interests were very bullish on steal, which
opened at 83 H against Sunday close at 824,
and fax the first selling went to 84. Benewed
selling in the rails was accredited to Europe.
' Trading In Crucible, while of heavy volume,
waa very confusing. On Saturday It appeared
that a distribution of this stock bad taken
place, bat today when the weak spots showed,
it looked to be accumulated.
It was reported In the market that Baldwin
earnings are enormooa. This issos waa active
aad higher today. The coppers were well
traded and maintained a fairly steady posi
tion during the early hours.
Following are the opening quotations oa
some of the active Issues:
Range of New York prices famished by
Over beck A Cooke Co., 216-217 Board of Trade
building:
DESCRIPTION
Open. Close.
Allia. Chalmers, c.
American Beet Sugar
ABwricanr Can,' c
American Car Fdy., c
American Cotton Oil. e. .....
Anertca'n Linseed, e
American Loco., c
American Smelter, e
American Sugar, c
American' Tel. at Tel
American Woolen, c...
Anaconda Mining Co
Atchboe. c.
Baldwin Loco., c. ...........
Baltimore a Ohio, c
Bethlehem Steel, e
Brooklyn Bapld Transit
Calif. Petroleum, c
Canadian Pacific
Central Leather, e
Chesapeake a Ohio
Chicago a G. W., c
Chi., U. a St. P
Chi. a n. w.. c
Chlno Copper
O-l or a do V. a I., c
88
Consolidated Gas
Corn Products, e
Crucible Steel, c
Distillers
Erie, c
General Electric
Goodrich Bobber
G. Northern, ore lands
G. Northern, lf
Guggenheim Exp
Hide a Leather
Ice Securities-
Illinois Central
Iidns trial Alcohol
Inspiration
Ic terboro, e
Karaaa City Southern, c...
Lackawanna Steel .-
Lehigh Valley
Mexican Petroleum
Miami Copper -
Missouri, Kansas A Texas.
National Lead
Nevada Consolidated
New Haven
New York Air Brake
New York Central
Norfolk ft Western, c
Northern Pacific
Pacific Mall
Pennsylvania Hallway
Peoples Gas
Pittsburg Coal e
Pressed Steel Car. e
Ray Cons. Copper
Railway Steel Springa
Beading, e
Republic Iron a Steel, c...
Rock Island
Sears.' Roebuck '&' Co......
Stodebaker, e. .
Sloes Sheffield
29
45
.109
. 36tf
6S
24
.152
Southern Pacific . . . . .
Southern' Railway, c
Tennessee-Copper
Texas" Oil'
Texas Pacific
Third Avenue
Toledo, St. L. & W e..
Union Pacific, c
United Statea Rubber, c..
United Statea Bteel Co., e.
Utah Copper
Virginia Chemical, e
Western Union Telegraph
Westlngbouse Electric .
Ex. -dir. 2ft per cent.
San Francisco Grain Market.
San Francisco, . Feb. 7. Barley calls:
February 7 February 5
Open. Close.'' Ckss.
May 142 14$ 140B
Spot quotations Wheat Walla Walla,
$1.82H1.85; Red Russian. $1.80a 1.82 V,;
Turkey Red. $U92H1.9S; blneetem. $1,950$.
Feed Barley. $1.35; brewing, $1.40v21.42Vi.
White oats, Xl.4otqtl.50-
Bran, $24.0025.00; middlings, $30031;
shorts. $26JK27.00.
PORTLAND FIRE RECORD
Sunday.
'8:39 p. m. Grand avenue bridge;
leaking gas; slight damage.
9:03 p. m. 624 East Sixteenth atreet
North; clothes too near atove; alight
damage.
9:35 p. m. 355 East Twenty-first
street North; defective flue; r ight
damage. '
Monday.
No fires.
When writing or .calling oa advertisers,
please mention The 'Journal. (Adv. I
nfcivum ' i " "i i ' uru i'
mm
CePAClTY 150 CARS PER
Earnlnga of New York National Banks for 1915 Large Comprl- j
aon With , Local Conditions Rererslon - Clause in Mortgs j ;
Transaction .OvercomeFrench Bankers ; Arrange Bift Loan. 1
- Zarntajra . of ta artrr Mew Tok
Baakav The Itrat National bank of
New Tort City paid, CO per cent in
dividends. It earned 71. per cent on
ita capital stock ; 28. per cent on Its
urplue, and 4.88 per cent on lta to
tal resources. It led all the banks
a thle -reapect. The Liberty Na
tional bank waa aecond. It earnel
2.S per cent on lta capital; 11 per
cent on capital and surplus, and 2.19
per cent on lta - total fund. . The
Chatham and Phoenix National bank
earned S7.S per cent on Its capital:
per cent on its capital and aurplua,
anl 3.61 per cent on ita -total fund.
The National City of New York
earned 24.1 per cent on its capital,
lu per cent .on capital, and aurplue.
The average earnings of the New
Tork City national banks was 21.4
orA. capital. 10.1 on capital and sur
plus, and l.SS on totaL
Ia the larger eastern cities the
banks make a practice of publlshlne
their earnings, announcing their divi
dends and statins; the transfers and
bid and holding- prices for their bank
stocks; This practice doea not pre
vail ' to any extent In the west and
is 'noJt common in Portland. The rea
son is ' due principally to the fact
that there are very few transfers
IB Portland bank stocks, and such ns
S3re made are negotiated privately.
Neither is banking; the profitable en
terprise it is n the larger financial
centers.
While no details are available, it
is doubtful if any bank in Portland
paid last year in excess of 14 p4r
cent on its capital stock, or an equiv
alent of 8 per cent on capital and
surplus combined. Last year waa an
unprofitable year for the local banks
as a general thins, in com pari aon
with previous records. The reason
New Tork banks found the year no
profitable, in spite of the fact that
interest returns on money offered
through the reneral loan channels,
such as commercial paper, time an 1
call money were low, - was because
the bs-nks had a great many oppor
tunities to participate In large Issues
of short time notes on railroads, .n-
Tract Is Purcliased,
Logging Will Begin
Charles X. pamldlng lumber Oo. sTays
55,000,000 Test of Timber in District
Back of ConraUis.
Within the next 10 days the Charles
K. Spaulding Lumber company will
begin operations logging in a tract of
65,000.000 feet of timber in the country
back of Corv alii a. About 75 men will
be employed and the intention Is to
ship out about "15 carloads of logs
dally to the company's mills.
" This tract has just been purchased
by the company, which has offices
here, one at Salem and another at
Newberg, and large bodies of timber
back of Black Rock.
The timber purchaaed is about 15
miles from Corvallis in the vicinity of
Mary's peak, and ia tapped by a log
ging railroad that connects with the
Corvallis & Eastern railroad three
miles west of Philomath and extends
into the timber to the bead of Woods
creek.
The timber and logging road was
purchased from the Mary's river Tim
ber company and the Alsea Logging
company. The project will be operated
under the name of Mary's River Log
ging company.
Coronado Country
Club Tennis Opens
S is,
San TMego, Cat, . Feb. T. (U. P.")
With an entry list Including some of
the stars of the country and coast, the
annual winter tennis tournament at
the Coronado Country club opened this
morning. The men's and women's
singles were played teday. Among the
player here or who will arrive Wed
nesday are: William M. Johnston,
world's champion; Miss Florence Sut
ton, Mrs. May Sutton-Bundy. Thomas
E. Bundy, Nat R. Browne, George M.
Church of New Jersey, Wynn Mace,
S. M. Sinsabaugh, John Strachan,
Ella Fottrell and Admiral Wlnalow,
commander of the Pacific fleet.
' -rt --I in' " - -
DAY
.Mock Mmms l
dastrial corporations, and in t
loans made : to - countries, with frori
one to two year maturities.
Objection to Jteveraloa Clans Cti
come. A ccord In g to J. I. Dalm.- pres
ident of the Title and Trust com
pany, the United Statea Mortgage an X
Trust company - of New York, probably-
that lawMt concern - In t"
United States dealing in -mortgage ,
bat for the first time accepted a.
mortgrage written on residence pre
ertyin Portland which is in a r
strict ed building district, the cct -for
which contains a reversion tUau
that if any of the conditions of t.'.s
transfer are violated the titla revert
to the original grantor.
Heretofore deeds containing this ar. I
similar clauses have not been ac
ceptable to companies doing .a gen
eral 'business of dealing in mort
gages, because It was maintained 't
ti-a actual title could never rea'.:
pass - from the , grantor under v- r y
sort of a reversion agreement. Ti s
objection has been overcome by, mak
ing, a supplementary contract wtin
the grantor to the effect that In c
of the foreclosure of a mortgage he 1
against the property the grantor w...
quit claim the title to the forecloter
of the mortgage. 7 . .
Trench Credit of fl 5, 000,000 Ar
rangements have been . made
French bankers for another ere 2.
of 115.000.000, maturing in - one' ytr
an! bearing 6H per cent -Interest.
A New York syndicate ooderwrct
the loan.' . .'
Snsslaa and American Trade "C
-Hons.- -The American Russian Cham
ber of Commerce has been form
in New York City to develop clot? -trade
relations with the prlccipj.1
cotr.mercial centers of Russia.' Busi
ness concerns which desire to cpi
up a line of trade with that coun
try will be assisted. The member
ship will be composed of leading t--dustrlal
and business concerns of thu
country. Close affiliation will m
h'3 wltn the Chamber of Commer-t
of Moscow. ' .
Baseball War Ended
By Landis Dismiss-!
Chicago. Feb. J.i-O. N. &) Federal
Judge Landis today dismissed with
out prejudice the. suit of the Federal
league against organised' baseb&n,
Landis' dismissal marks the last phai
of the war which raged between tr
rival leagues for two seasons.
V No Session This Week. ,
The Commanity Training School ' c f
Religious Education meeting Tuesdav
evenings at the library, will not ho. 1
a session this week. "
Safety and
6 Per Cent ;
CONSERVATIVE .
investors who :
desire the
opinion and
recommendations of - V
experts of well and
favorably known
'standing In the ln ; s
vestment and fin an- .
cial world will find '
information of value
in "Better invest,
ments," a booklet
that ' we wilt mail .
free upon request. . .
BANKERS
MORTGAGE
CORPORATION
Title & Trust Bldg
. Portland, Or
- I
- v.- t
i . t