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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (June 21, 1917)
THE OREGON DAILY ; JOURNAL, PO RTLAND, THURSDAY, JUNE 21. 4 1917. 19 SERIOUS LOSSES ARE SHOWN IN THE NORTHWEST FRUIT CROP Edited by HjrnM H. Cohen STRAWBERRY PRICE OWERED IS AGAIN Li STOCKS ARE BETTER Supplies In Greater Supply Reach Front Street and the Farmers' Market Sales From $1.23 to $2 Per Crate Dating the Day. The market for trawberriei waa again weak and generally lower both In the Front atreet trade and oa tl.s East Side farmers' market. First sales of Clarks were shown on the Farmers' market at S1.WXS2.00 per crate, while tbe last transactions were sround SI. SO. A few sales of ordinary quality were reiorted there at 1.25. . Along Front atreet Tallies are generally ruling from 1.75 to $1A5 for top berries, al though some ssles are shown down to SI. 50 for ordinary quality, with a, fractional rolume of business a high as $2 per crate. Local growers are shipping rather liberally to the home market, and this, with rather free arrivals from Willamette valley points. Is keep ing the trade Weil siiipl!eU. Demand Is good, and Is getting better, al though the temlency of values is downward. The fact that canning Interests are taking hold at Columbia river sections at prevailing prices, iuill'-atc that the trade does not ex pect berries to reach the normal low figures. Potatoes Move to Market by Express That all Is unusual In the potato trade during the season has been the opinion of the local trade recently. A few days ago Dryer. Bollam & Co., received a liberal supply of po- tatoes by express from Spring- brook. This is very unusual, in fact the express rate-was al- most as much as potatoes sell at country points during some- low-priced seasons. Eastern Market Is Taking Canned Fish At Extreme Prices Chicago and New York Are Fairly Liberal Buyers Run Only Slightly Improved. SEVERE CUTTING OF ESTIMATES ON FRUIT CROP-IS BEING MADE DALLES CHERRIES ARRIVE iohn Kllndt of The Dalles has the honor of sending the first cherries from that section to the local market this seawn. Arrivals of northwest stock up to this time have been of indifferent quality. ARE LOWER being named for GOOSEBERRIES Sharply lower prices are gooseberries In the local trade, tilth a fair In creuse In offerings. Sales were shown al'ing the street during the day at 3'jc for small lots and 3c for greater supplies. Almost Without Exception the Out put Is Expected to Be Smaller General Shortage About 50 Per Cent in the Northwest. Lady Apple Crop Is Going to Be Small Mark Levy, the commission man and a farmer too has been known all over the coun- try for year as the Lady ap- pie man of Oregon. He makes a specialty of growing as well as selling this fruit, lie says that this year the indications are that there will not be suf- Sr ricient loay apples to count, in 4. fact he reports all fruit crops in the Milwaukle section as small. . Chicago, New York and other leading eastern markets are purchasing fair supplies of sew peck Columbia river salmon at this time but there la no business available in tLe southern markets, the trade there being of the opin ion that prices are too high. Current sales of new pack Columbia chl iok re confirmed at J1.T5 for halves, 1 2. SO for pound tails and S2.8o for pound flats. The pries obtained for pound fiats : 5c a dozen more than initial sales of the season and indicates that the big market centers are still fmJslii'd for supplies. There Is a slightly improved catch reported from the lower Columbia although the volume is still comparatively light, according to Rob ert 8. Fan-ell of Kverdlng & Farrell, owners of ths Pillar Ilock Packing company. No official price haa yet been named for Co lumbia river tlsb and there Is atlll some doubt to whether formal figures will be an nounced. Uore serious losses than bad been antici pated even a few daya ago by growers snd the trade are shown in the trait crop pros pects in Oregon and Washington, according to special reports received by The Journal. Tak ing the fruit rro; as a whole It Is doubtful If more than a CO per cent output will be shown this season, and some of the leading growers and dealers are inclined to believe that the crops In general will not be more than a third of the norma 1. The ahortage in the cherry crop is already apparent. In the Willamette valley the out look is for not more than a third normal crop. Pears will be extremely- short, compared with earlier estimates of a bumper production. Apples are dropping so fast at all Pacific northwest centers that crop estimates axe being generally reduced. But little more than a half normal crop need be expected from leading centers. Peach crop will also show a loss, bat last season the output was auto very small. The strawberry prospects are for leaa than a half crop in the northwest generally, with some of the leading shipping districts already through tlielr movemeut. HKckberries and loganberries sre expected to produce at least the normal crop. I Tunc crop estimates uie again being re duced, but !t will be some time before definite estimates will be available. CANTALOUPES Fractionally lower ARE CHEAPER prices are being named for cantaloupes here, with increased offerings from the south. Hales of standards at $0, with ponies at S3 generally. Quality is improving dally. VEAL MARKET IS ERRATIC Very erratic tone is showing in the market for country killed calves. A very limited amount of trade Is reported at 13e for selected anlmala, but the bulk of the good stuff is rul ing around 14Jil4c. BUTTER SITUATION IS STEADY Butter Siarket is showing steady tone, con trary to previous expectations. This is due to the fact that the condeiisarles are making a greater fight for raw milk and are paying ad vanced prices to get the supplies aw ay from the creameries. BRIEF NOTES OF THE TRADE Declines, of 60c are shown, for wheat prod ucts and 60a for rye offerings. Asparagus market lower, st S1.0031.10 per dosen bunches. Egg trsde is slow, with prices unchanged along the atreet. Uilcken market Is sick, especially for small birds. Old potatoes are very slow locally, with, the season about to end. SHIPPERS WEATHER NOTICE Weather bureau advises: Protest shipments during the next 48 hours as far north ss 8e sttle against maximum tenieratures of sbout 70 degrees; northeast to Spokane, SO degrees sotiCheust to Boise, fH degrees; south to Ash lsnd, 80 degrees. Maximum temperature at Portland tomorrow about 74 degrees. Weather Is factor In Wheat Trading On Chicago Market By Joseph F. Prttchard Chicago. June 21. (I. N. S.) There was change of feeling In the various grain markets on the lKmrd of trade today, e sentiment was more bullish than on any previous day of tha week. This was shown by the price gains. which amounted to 2c for July wheat, while the September was off lHc. The former was In best demand from shorts, while the latter was under more or less selling pressure. Corn closed with advances of tlc, and oats were up aiae. Cash sales at Chicago were small at 13,000 bushels corn, and 05.000 bush els of oat. Exporters reported 400.000 bushels j ac of oata sold at outside points. There were do . sa soles of wheat reported in any position. West ern receipts of wheat today were 480.000 bushels corn, 97S.000 bushels of wheat and &88.00O bushels of oats. Export clearances of flour and wheat, as wheat, today 1.020.0tK bushels; corn, 144,000 bushels, and oats 624. 000 bushels. Bog products were higher far pork and ribs, while lard was a shade lower. Chicago, Generally Steady Tone in Livestock At North Portland Cattle and Sheep Rons Increase, Bat Run in Hogs Is Limited for the 24 Hoars. Thursday Wednesday PORTLAND MVE8TOCK RCN Hogs. Cattle. Calves. Sheen 107 . 227 . 14 . 842 . 453 . 204 . Mr, . . 759 . . 24H . 246 843 19 7H3 17 14 12 s 21 3 84 2 12 4 8' 1W8 82 331 44 21 J 1420 1572 2H4 1021 1382 S., P. & S. Reports Decreased Outlook For Prune Crop W. C. Wilkes, assistant general freljrht and passenger agent of the 8.. P. & 8. railway, has the following special report of ths prune crop: Vancouver. Wash. Prunes indicate about one half crop, compared to last year. They have been badly done up with brown rot, wirlch la presumably due to late rains. Camas, Wash. No prunes or cticirie in sleht for market. Very email percentage of produc tion of prunes expected. Weather fine. Wnsliougal, Wash. Prune crop is from 40 to 50 per cent short. Weetber conditions past two weeks favorable. Albany, Or. Prunes hardly half a crop. Eugene Or. Prunes in certain parts will give good yield, others only a small yield, on account of msny buds dropping off treea, the me applrlng to cherries snd pears. ONSUMER UM LOSES A OF MONEY BY BUYING OF FLOUR Low Priced Shares Are Advanced at The N. Y. Opening Sew Terk. Jans il. (I. . S.) Ths steek aaarkat elesed strong. Am sdvuos sf I points ia Americas Smsluag waa tha feature of tats last sear taat stock moving ap to 101. United ttatea Steel eomaioa sold an te 17 aad Amsrieaa Woolen advanced t points to M'i. Xexloaa Pstroleaaa morod ap points to Sales for tae day were MS.tOO shares: bends. fl.6M.000. Finance: Timber .'Industry Call Money In New York Seta New High Record With H Fer Ceni Bids Commercial Papers Hold Firm at 5 to &H Tor. Cent Rash of Msvnks Applying for V. 8. Ieoits Expected. Losses Are Severe Because of Ten- denry to Stock Up With High Priced Product Millers Are Un able to Find Demand at Moment WHEAT TRADE SUSPENDS. All trade la wheat haa heea ssspeaded ea the Portland Merchants Exchaag until ths government has declared its policy In regard to the wheat trade. NORTHWEST GRAIN RECEIPTS -Cars- Portland. Tours Year sgo Season to date. Year ago Tacoina, Wed.. Year ago Season to date. Year ago Seattle. Wed... Year ago Season to date. Year ago...... Wheat. Barley 7 7 S.470 10.431 s 10 T.WO 7.18K 7 . 5.5M 4 1523 Fir. 2 4 151U 1U37 Oats. Bay. 3 2 BUM 1 23 20 1120 132 KM 1 J 36a liktf 17SS 2119 3 ' 310 43S 8 1270 1X35 2Su0 S JOBBING PRICES IN PORTLAND These prices are those at which wholesalers sell to retailers, except as otherwise stated: Dairy Products BUTTER Creamery, prints in parafflno wrappers, extras, one- prime rirste, BO'c firsts, 35Vc; cubes, lc less; carious, lc ad vance. BUTTF.RFAT Portland delivery No. 1 ciearn 38c. EOUS Selling price: Case count, 30(g31c; doren; buying price, 30c; Selling price, can dled. Sl!((i;c. LIVE POULTRY Hem. heavy Plymouth Rocks, 15!315U,e lb.; ordinary chickens. 14 (jjl.'ic; stags, 13c per lb.; broilers. 18(3 Wc per id.: turaevs, )(Uie per in.; aressea, rancv. 2t2Sc per lb.; culls. 204i24c; squabs, $200 per dosen; geise, live ( ); Pekln ducks, young, 25c per lb.; Indian Runners, old ducks, 1718c nor lb.; pigeons. $1.25 per dozen. CHEF.sn Selling price: Fresh Oregon fmcy full crenui triplets, 2561200 ; Young America, 272c. Price to Jobbers, flats. 2SV44i24c: Young America. 25c. f. o. b. ; cream brick, 2i?J2(c; I.lmbtirner, 81332c; block 8wlss, 34K3.V. fresh Fruits and Vegetables KRE8U I HL1TS Orun. 3.50(i3.63 boi ; bananas, 6 toe Per lb. ; demons, $4.50(80.50; Callforuls grsperruit, $2..VJ(&;2,75; Florida, $5.00'8tt.00; pears. Jl.4OQ2.O0. BERRIES Strawberries; Local, $1.002.00 gomeeberrlee. 3dt3MiC lb. APPLES Ical. $2.503.23. according to quality. 'ONMONSCalitornia. new red, $1.50(31.73; yellow, 12 no. ' POTATOES Selling price, table stock, local, 13.50. Buying price, ordinary shipping, $2.75; new potatoes, 4H4c per lb. VEGETABLES Turnips, $2.00 per lack; earrota, .i.uu sacs, neeis. June 21. (U. P.) The weather again was the ruling factor In the wheat mar ket. Showers In the winter wheat belt, where harvesting Is under way. sent that future up Sc. while spring wheat. Influenced by continued fair weather, lost 2c. July opened at $2.01, yesterday's closing price, and later gained 3c. September opened unchanged at $1.80 later losing 2c. Rain and cooler weather had a bullish effect on corn. July opened unchanged at $1.52 Mi. but later gained c. September opened 4c off, but subsequently $1.42. up c. Decem ber opened c higher at $1.07Vi, later gain ing lc. Oate gained In sympathy with corn. All futures opened at yesterday's close. July later gained He to 624c. September e to B2e, uud December Tc to 54 Vic Provisions were higher, in spite of a slow and lower hog market. Range of Chicago prices ss fumlihed by the United Press: WnEAT NO SHORTAGE OF LABOR " ANTICIPATED AT YAKIMA North Y'sklma, June 21. Despite apprehea alon that there will be a labor shortage at harvest time in Y'aklma valley, evidences of a scarcity of labor are not to be found in ths federal employment offices of Yakima valley at this time, according to U. W. Acbeson of the North Y'aklma office, who has just re turned from Kennewlck, where he handled the labor for picking the strawberry crop. He says he had 10 men offering for every job. During the first half of June in the North Yakima office 473 men were sent out on jobs, and at the present time the office is sending ont from 40 to OS men dally, snd haa applicants still in waiting. It la significant, too, that the applicants are ready to go to work at wages far below the scale announced by the 1. W. V. leaders who are seeking to control the labor situation in the valley. July : September Jnly September December July September December July Sptember July December Open. High. low. Close. 201 AJtS KM 203 ISO ISO 175 1781, CORN 152Vs 15" 151 1: l,v?u 141 143 140V4 342 107 M 100V4 lOOVi ios OATS 1 62 61 , fi2t; 52U fKil 51 63 X 64 53 644 PORK 38iO 3t)20 aS52 8KS5 S055 3892 8052 LAUD 2157 2IT 2157 2160 2180 21 ao 2177 2tSo RIBS 2136 2142 2132 21R7 2146 2157 2146 2157 YAKIMA FRUIT CROPS ARE ESTIMATED SMALLER aack; par snips, $2.50 sscW; cabbage. California, 3c lb.; head lettuce. $1,7542.00 per crate inches; -peppers, 40c .uu per crste: cel ery, $5.00 per crate; urtlchokes. 1XK'1.10; cvfumliers $1.00(1.50 per dozen; touiab-es, Mississippi. $1.7IHf2 crate; egg plant, 20c lb.; string beans. 9(ijl0c; rhubarb, 2g;3c per lb.; peas, 8f(i7c per lb.; cauliflower, local, ( ) per dosen; asparagus, fl.UOQl.10 per do2rn bunches. Meats, fish and ftarlsions DRESSED MEATS Selling price, country killed best hogs, lUitflStc per lb.; ordinary 18c per lb.; best veala, 14(14Hc per lb.' ordinary veala, i2&12'-,,c; heavy. HKllw' grat, 4tj'; lambs. rul7c per lb.; mutton' 12(iil5c: beef, He per lb. ' SMOKED MEATS llxnis, 6828c per lb.; breakfaU bacon, 21(S27c; picnics, 22c; cot tage roll. 2Hc; short clears, 26tti!7c; Oregon exports, smoked, 27c per lb. LAKD Kettle rendered tierces, , 24 standurd. 23c; lard compound, lSvic. OY'STEKS Olympla. gallon. 3.5o- tinned, eastern. 65c tr csu, $d.5t) per doseu; eusiern in shell, $1.0 p-t 100; eastern oysters, uer gallon, solid pack. $2.75. riSll Dressed flouuders, 7c; Chinook sal mon. He; ivrch, U)c; soles, 6c; flounders. 6c; salmon trout, 22c; per lb.; halibut, lla 13c per lb.;, black cod, c: herring, tic; rasor clams, SOc dosen; bsrd shell. 4c lb.; $2.75 box CRABS Large, $2.60; medium, $1.75 dozen'. Groceries SUGAR Cube. $9.15; powdered, $8 .SB; fruit or oerry, -; rionoiuiu. .a; heet. $S.05 dry granulated. $8.25: D Y'ellow, $7.60. HONEY New. $3.O03.25 per case. HICK Japan atyie. No. 1, 7 He; New Or leans head, c; blue rose. 8V4c. dALiT uosrse, hair ground, 100s $12.40 ner n; 60s, $18.25: table dairy, 50s, $lf.25; 100a 16.76; bales, $2.40; fancy table and dairr! North Yakima, Jnne 2f. Ths fruit tonnage or isklma valley estimated at the blossoming time at 14,000 cars will be cut materially from that figure when re estimate Is made of the damage sustained by reason of the heavy drop that has couio which has exceeded ail precedent for losses In mid-season. Swet cherries are hsrdest hit. Hetimatea made In May placed the total of this crop at 250 cars but the best informed orchardlsts now say the yield will not be over 10O cars. Bartlett pears mint be cut a fourth from the estimate of lttoo cars, making the crop about the seme aa last year. Apples hsve suffered along with other varieties of fruit the Wlnesape being hunleat hit. A re-estlmate of tonnage will be mi.de July 1 when the effects can be better known. PORTLAND DAIRY EXCHANGE Price between dealers: BUTTER Cubee: Ttrn. Wed. Trie. Mon. Sat. Extras 35 3H 85 'i 35 W 35 lb.; Prime first 35 Dairy 30 Current recelpta. Oregon trip 23 ton 116.75: bsles, $2.40; tancy $23.00: lump rock, $20.00 per" ton. BEANS Small white 17e; large white. iqc v1 , . uai( 7tc; Dsyoua, Hops, Wool aad Hides auro iiomium; uujim price. crop, ordinary, 6(6c; selected, 6c; contracts, 10c per lb. v WOOL Willamette valley coarse Cots wo id, 54Q60c lb.; medium Shropshire, 0068c; fine 62 SOc; Eastern Oregon, 6261c. HIDBS Salted hides, 25 lbs. and tip. SOc; silted stags, oo lbs. ana up, isc; green ana sited kip, 15 lbs., 22c; green and saited calf skins up to J5 lbs.. S2c: green bides 25 lin and up, 18c; green stags. 60 lbs. and up, 13Hc; Cry hides. &3c; salt hides, 28c; dry hor e siaes, si.uuvov; sail norms niaes, $3.tKl 6.00; horse hair, SOe; dry long wool pelts. 82 SCe; dry short wool pelts, 25c; dry sheep hearings, each. 1025c; salted sheep shear ings, escn, 20ouc; sanea Kllg wool pelts, each $1.6OQ4.00; salted abort wool pelts. lira, uwui.w. taujuw-.o. i, 14c; No. 2, IZc; crease, C8c per lb. cm I'l l M OB CASCARA BARK Bayinc prtce per car lots. 6U7c per l01C. lb. MOHAIR 1917. 60 Rods, Paints, Otis ttoimoissi, uar, jjucj white. . 20V40 per jo.; iiiouira lusuiia, nuc, UNSEED Raw. bbls, $1.32 per gallon kettle boiled, bhla.. lf raw. caaeal!S5 POTATOES ALONG THE COAST San Francisco Market San Francijco, June 21. il . P.l Potatoee New potatoes, per pound, white, 2433c: Oar- nets, 3ic f. o. b. Colnia. Onions New Stockton red. 00c ia 1 1.00 per sack on the wharf; do yellow. $1.00(21.10. Seattle Market Seattle. June 21. (U. I'.) Onions Aus tralian. 4c; wax. $2.25; California red. 2c; cryatal white, crate, $1.75. Potatoes Yakima Oems. $90: seed. $80: locals, $75XO per ton. Los Angeles Market Los Angeles. June 21. (P. N. S.) Potatoes Northern, $3.00; Oregon, $5.00; Russets, $5.00; new. $1.20(31.35 lug; $3.50 cwt AMERICAN LIVESTOCK PRICES 35 30 34H 34 30 30 KtiGS Week FrL ago. S5 36 MS 34 H 354 30 30 304 SO 30 30 30 CHEESE 23 23 23 30 30 804 23 Vb 2314 234 New York Bond Market New Y'ork bond list furnished bT Overlieck A Cooke Co.. 216-217 Board of Trade bnildlnit: mi. Ask. 80'4 SH 9S jvi R4 85 85 14 95 ! . . . 87 1 91 14 25 2t 87H 87 l B1H 83 10 104Tt 99 91114 81 82 101H 102 5tZ 95 88 8 Atchison Genl. 4s Baltimore & Ohio Oold 4e . . . Bethlettetn Steel Ref. 5a Central Pacific lat 4s C. B. & O. Col. 4s St. Taul Genl. 4a Chicago N. W., Gen. 4e L. ft N. UBl. 4g New York Railway 5s Northern Pacific P. L. 4s .. Reading Genl. 4s tinion Pacific 1st 4s V. S. Steel 5a Union Pacific 1st Ref. Be .. Fonthern Pacific Con v. 5s . Southern Pacific Coot. 4a .. Penn. Ctonv. 4fts Penn. 1st tUt Chesapeake & Ohio Coo v. Be Money and Exchange New York. June 21. (U. P.) Money on csu, per cent; six moans, fH t? per cent; mercantile paper, 4 14 (3-4 14 per cent: bar silver, London 3d, New York, T8c; demand 0.9 I -JLO. Winnipeg Wheat Market Winnipeg, June 21. Cash wheat, Ke. northern, $2.41; No. 2 northern, $2.33; No. northern. $2.83. Chicago. June 21. (I. N. S.l Leek of east ern demand and a swelling primary movement due to Hie recent advance, set the hog market back 510c, although a flash top was made at $16.15. The bulk sold at $15.45(316.00. Oood cattle were 10 15c higher than Monday, others slow at the bottom of the recent decline. Sheep house valuea were $1.00 "32.50 above the recent low spot. Kansas City Hogs $15.98 Kansas City, Mo.. June 21. (I. N. 8.) Ont tie Receipts 4000; slow, steady to weaker; steers. $10.00(813.00: cows and heifers. $6.00 (318.00: stock era and feeders. U.Ondi IlluU: calves. $6.00fl 13.75. Hogs Receipts 6000, etesdy, closed MTTOc lower. Top, (15.95; balk, $15.05(315.80; heaviea $15. i5fft 15.96; mediums, $15.704il5.85 lights. $14.8515.70. Sheep Receipts 2000. 25(ri4Ae higher. Lambs, $1B.5ai.PO; ewes, $10.00(10.50; wethers, $10.00Q11.25. Chicago Ko?a $18.10 Chicago. June 21 . Hops -Receipts 24.ono. slow. 5c lower. M!c! and butchers. $l5.15if( 16. Oft; pood heaw. $1fl.loin 1A; rough heavv $15. 10ff 15.35; llprht. $14 Wrrfl5.95; pigs, $11 00 (0514.70: bulk, $15.45016.00. C'Httle Keceipts 4000, steadr. Beeves, $8.75 ?13.S0; cows and heifers, $5.75(9)11.70; sto. k ers and feedera. $7.10(210.35; calves, $11.0Of 15.75. , Sheep-Receipts WX)0. steady. Natives and western. . 1 .60: lambs. $10.75(316.50. Omaha Hogs $15.60 OmaTia. Neb.. Junp 21. -(I. N. S.l Cattle Receipts 3iOO. steartv. Reeves. $10.25(313.60- cows and heifers. $6.iKiill.50: stockers and feeders, $7.0O(3H.0O: calves. $10.0014.5O. Hogs Receipts 12.x). 10c lower. Mixed. 14 00015.50; t.nd and choice heavv. $15.35(14 5.60; rough ueavr. $15.00(315.30: Hirht. $14.75'915.45; pigs, $12.00 14.50; balk. $15.10 Q15.40. Sheep i;ece1nts Moo. steadv: wethers. $10.00ffill.5O: rearllncR. $12.cni-,x13.5o: west ern lambs, S19.75ft.fl6.50; spring lamba$16 0 Sfis.uo; ewes. H.wa 12.25. Denver Hojs $15.70 Penver. Juue 21. tf. P.) Cattle Receipts 00. weak. Steer. $10.ooa 12.06: cows snd hHfers. SOO-a 10.50; stockers and feeders $7.75$S.75; cslves. $t2.00ra 13.50. Hoes Keceipts inno. 5c to lOc lower. Thn fl.5.70; bulk. $13.25(iT$l5.f0. bheep receipts 15O0. steady. Ewes. 19 oriff 10.00; lambe. $13.00fri7.25. Seattle Hogs $15.50 Peattle. June 21. (P. N. 8.1 nos-sRe. eelpts 107. Steady. prime llchts, $15.4X8 15.60: medium to choice, $15.15(9 15.23; smooth heavies, $14.6515 00 ; rough heavies $14.152 14.40: pigs. 914.15&14.45. Cattle Receipts 18. Steadv. atra 10.0010.15; medium to choice. $9.259.50; common to medium, $6.50SS.ix: best cows. $S.O0(39-5O: common to medium cows, tft.CHXd $10 OOQ 10.25; medium to choice. $9.25(9.50; JSheep Receipts, none. Hteadv. Lambs $13.00(313.50; yearlings, $12.50312.75; ewes. $10 JJWg ll.oo; wethers, $12.00(312.50. Gooseberries Being Canned Qiehalle, June. 21. The crops from severs 1 acres of gooseberriee grown ln the neirhbnr- liood or LTe balls are being received at tha I Che halls cannery, and, togeher with onher crope that are coming in. is providing work tor several aaaiaonal peonle. Most of ths vegetable crops planted for the cannery are looking very line. Tuetday slcnday ... Saturday .. idsy V t-ek ago . Year ago 759 6 Two years ago M 39 Three years sgo 24H lj four years ago 246 149 There was a ateady tone generally In the mcrket for hogs at the opening of the day trading it North Portland. Arrivals were of light volume and not a single full carload came forward. In general the market waa mnljtprft 11 m.-Iia rw A at C1f. Oil fnp itrm I tot' aualltr. General hoc ranee: Prime lUtht $14.75aif .00 Prime heavy 14.90nl500 Pigs 12.uOtil2.2o Cattle Movement Bet There was an Improved movement of cattle lr.to tha North Portland yarda over night with ths trend of the trade considered stesdy There is still a lack of quality offerings. N general price change Is indicated. Seven loads of California stock and four loads from a Wsshlngtou station were reported. Gcueral cattle market range: Beat beef steers $ 9.O(frl0.00 Good bei-f steers 8.50tf 9 50 Best beef cows 8. 00(3 8.25 tdlnarv good cows 7 iit 7.50 Best heifers 8.76(9 9.25 Bulls 5.OU0 7.50 Cslvee a.OO(fc 8.50 Blockers snd feeders U.004J 7.00 Muptbon Bun Improved There wss also sn Improvement ln the ma of mutton and iambs Into the North Portland yards over night. Trsde wss sgaln considered steady with no apparent change ln prices or demand. General mntton and lamb market: Valley spring lambs S13.O0Q18.25 Nastern urecon spring ismbe id.zs Shorn yearlings 8.0OO10.00 Shorn ewes 7.00a 8.50 Thursday Livestock Shippers Cattle Lnlon Meat Co.. bonita. Cel., 7 loads direct; H. Blarkwell, Madison, Wash.. 4 carloads. Sheep C. H. Farmer. McCoy, 1 load; U E. West. Oakland. 1 load. Mixed Stuff W. Given, Estaveada. 9 loads cattle calves, hogs and aheep; Mr. Nelson. Monitor, 1 losd cattle, calves, hogs and sheep A. E. Paton. Qnerenet, 1 load cattU and aheep J. K. Parish, Jefferson, 1 load hogs and sheep. What the Shippers Say Beneon Commission company reports the market ss follows: Strictly good steers sold on the market Monday for 10c which la probably 25c to 40 per cent higher than 10 days ago. It appears there aro Dot very many cattle ready to otne to market- While there wera quite a few steers on th market Monday that could be daaaed as good killers there were not enough strictly good cattle to supply the wsnts of tho packers. There does not seem to Oe any heavy cattle due to arrive from California soon and for this reason It la our opinion good cattle shlppon oa tha market now will net the owners well wniun tneir taeaa. in fact today strictly fst steers off the grass would bring 10c if bard. (tows sra selling equally ln proportion with good steers, with the supply very limited. Ws are not receiving as many common cattle aa we hare been for the past several weeka and this has had some tendency to strengtnen tne prices w ui oei tr stuff. Too hoes sold for $15.23 Monday with the supplies Just shoot equal to ths wants of the trsde. Today top hoga are selling around 15c. Tlga under 150 pounda selling sronnd 12c and 12Uc. We look lor sieaoy prices to prevail Fat aheep are being picked up quite readily Ithona-h th market is a utue lower jusi now At the present time vallev sheep sre making un the balk of the arrivals. We eee no rea son why there should be sny lmmedlste drop in price as the eastern markets are holding un ao well, in fact Chicago 2122 23U8 13 4015 4368 That there was really not the slightest ex cuse for the severe catting of cash wheat prices on ths Portland Merchants Exchange on Wednesday is the opinion expressed during the day by leading millers as well as grain buyers. It is impossible to purcbsse cash wheat within loc of the price quoted by the trade; ln fact the limited offerliiga atlll available la the country of the old crop are being held for full values of a few days ago. There is no doubt that the record decline ln values was msde simply to affect the price of new crop grain but this will not likely be of any benefit to the trade because farmers are not likely to rush peUmell Luto tha coo trading ring. Further severe weakness Is indicated In the fkwr trade but there is really no bnal ness to be hsd st sny pries at the moment; both retailer and consumer being heavily tocksd with supplies. It is estimated that the consumers of Ore gon lost several hundred tDousana aoiisrs oy speculating ln high priced flour this season nd the liaises throughout the country sr said to be very severe. Bruouihall cabled from Liverpool: Liverpool Wheat dull and ealer with Im proved American crop accounts and increasing xpurt offers. Corn linn. Bpoi annua strong, oats dull and steadier, attivsui uax. lted, American offers lighter. consumption moderate. Flour dull and eaaler. Prices maintained and consumption moderate. KLOLR Selling price: Patent, $11.80; Wil lamette valley. $11.00: local straight, $U.U)j 11.40; bakers local, il.wn.o; uontsna spring, $12.60(312.80; exports, $9.10; whole wheat, fiz.uu; granam, sii.uu; rys iiuur. $11.75 per barrel. HAl Buying pries, new crop, wiuameiia valley timothy, fancy. $27 .00 28.00 ; Eastern Oregon-Washington fancy timothy, $30.00; al falfa. $21.00; valley vetcn, sis.uu; cocai. a.00; clover. $1C..0. GRAIN SACKS Nominal. No. 1 Calcutta. 13kU13c In car lots, leaa amounta higher. HILLalltr!) tseismg price; nnu, aoo.uu $36.ov; shorts, AJii jH.Uu; middlings, $47 per too. KUl.l.Kli uai t er um, i.w. ROLLKl) It A RLE Y Per ton, $51.00852.00. CORN Whole. $72: cracked. $i3 per ton. New York. June 21. (I. M. 8.) Two low priced stocks were msde prominent la the Ini tial trading at the opening of the stock mar ket today. New Uavea opened up st 494 and Distillers securities advanced V4 to 24. early everything else traded la was la sap- ply at eooceaakMS. The street generally took the position that the flnancisl situation had changed for th better, many important bournes taking a bullish position aooa arter the opening. Marine preferred attracted the most atten tion, rising to t4 on persistent buying oa rumors of another seml-annnsl dividend of per cent. Bethlehem Uteel "B" after selling at 156 V. advanced to 13 and Steal cuu aou, which was under pressure in the esrly trading, dropped to 125. It roae to 127 later. Induatrlal Alcohol, which had aold down to 161. roae to 164H, aad American Smelting advanced 1 to 106. The railroad Issues elso were strong, Tnloa Pacific m-rvh.g np 1 to i:5 while Read leg advanced from 94 to 0m,. The steel industrials generally declined from fractions to 1 point. Before the end of the first 15 mlautaa. however, confident buying waa ln evidence and recoveries were In order. Bethlehem Steel "B" dropped 1 to 136V, with a qnlck rally to 137 V and Crucible Steel, after selling off to C'i. rose to 88)4, paaalng yesterdsy's high pries. Corn Products wss also ln demand, ranging from 83 to S4. United States Steel sold down H to IZT from which It rallied to 12C Sinclair OH wss one of the weakest fea turea. declining S points to 47. Induatrlal Alcohol sold off 1V4 to 151 S but recovered this loss ln the next few minutes. At the end of the first IS minutes New Haven was H higher at 39 and Distillers ranged above 2D. Tbera waa a good demand for Crucible which moved from 82 to 85. Distillers Se curities sdvsnced to 25 snd Baldwin Locomo tive to 64 H. Sinclair Oil was a weak excep tion, declining 1" to 4TH- Money loaning at 6 per cent. Rinse of New York prices furnished by Over 216-S1T Board of Trade Call money In Naw Tork We4neadajr west to H per cent, marking tne highest lerel In this market for the year. At tha same time tbe - treneral quotation on commercial paper runs e to 64 per cent. Tha following- com mentary from the current isavia ot Dun a Review la, therefore, of Interest: "Unuauai Interest and elgnlflcanca have attached to movement ln money, and that the market haa reached the year s highest levels la not aurrpislng The possibility of such a development during- the final weak of subscriptions to the government's bond issue had been considered ln many quarters, and with last Saturday's bank statement disclosing another sharp decline In sur plus, a further rise ln rates seemed certain. It was not until Friday, when per cent waa recorded, that tha pre vious maximum on call loans was ex ceeded. Increased conservatism on tha part of lending institutions was to some extent due to requirements In connection with the lrcoroe tax pay ments and the fact that preparations must soon be made for the extensive July 1 interest and dividend disburse ments. Yet tha Liberty loan has nat urally been the overshadowing feature, and on Friday the oversubscription of the issue was announced, tha response during the last week, under the ener getic campaign here and elsewhere. aving been most gratifying. Tha lghter situation ln call money was vldenced by a range of rates of from to 6 pw cent, against 3 to 4 per cent last week. As illustrating- the harden ing process ln time funds, all matur ltlts beyond 30 days and ur te six months reached a S to 5V4 per cent basis, though there was soma reces sion In the later trading. Few lnstitu- ions have manifested interest In mer cantile paper, and the market cont Inuea quiet, with quotations still at 6 per cent aa the minimum for the beat notes." beck A bnlldlcg Cooke Co.. PKJ RIPTION Ojveu High! Low CU TRADE IX COTTON SMALL AT OPENING OF MARKET Nsw York, Jnne 21 (I. N. B. ) Business was smaller at the opening of tha cotton mar Wet this morning than at any time in montha. The ton was easy with prices down 6 to 30 points, the lstter montha showing the largest losses. High. 2566 20X8 Month. January .. March ... May June fuly August September October . November December Open. . .2560 . . .2002 . . .2001 2G55 w 253S '. '. '. '. '. '. '. '. '2548 2061 250 2& 2547 2560 Low. 2600 2520 2501 2400 2525 2479 The cotton market closed steady decline of 21 to 23 points. 2495 at Close. 2537 2552 2505 2525 252 2526 2527 2517 251 2C31 a net BANK STATEMENT OP COAST snd Omaha ad need from 75c to $1.00 on laruha laat week This will prevent any break ln aheep or lambe we may expect to won iroui r w urn mountains. Wednesday Afternoon Balsa STEERS v Ave. lbs. Price 2 steers 00 COW 3 1 cow "0 I 7.75 1 cow 1210 5 75 HEIFERS Clearings Men (lay Tussdsy Wednesday . . Thursday Balances Portland Banks This Week $ 8.572.94e.0 ... 2,:5,47.4S ... 2.6X2,824.12 ... 2.273.863.61 2 heifers 2 heifers 1 bull .. 8 hogs . . V hogs . . 4 h' gs BULLS HOGS 625 330 $ 23 6.00 $ 7.00 No. Thursday Morning STEERS ... 20S . .. 161 . .. 195 Balsa Av. lba. Trice. $15 00 15 00 15. 00 1 stoea, 1 ateer . cases, $1.41 per gallon; lots of 280 boiled, gallons, coal, oil water white, ln drams aad Iron barrels, 10c per s-alloa. WHITE LEAD Ton lots, 14e lb.: 500 IDS.. 14MtC. TU RP fc.NTl N H Tanks. C2c; cases. 69c ; GASOLINE Ba'sla price. 20 He par gallon oiBiuime. avfto per gauon. 8 cows 2 cows . . 3 cows 1 cow ... 2 cows . 1 cow ... 1 cow . . 1 cow . t heifers CX1W8 Bs lances Clearings Balances Clearing Seattle Banks I Tacoma Banks I Bpokane Banks Los Angeles Banks Yesr sgo. $ 2.245.565 05 1. 926.641. 2S l.fKO.OWl 61 1.641,532 12 034,000 00 49 647 00 50.659.0u SS4.434 00 75.81S.C0 Alaska Oold Allls-Chalmexa. e American Beet Sugar. American Can, e American Car Fdy., c. American Cotton Oil, e American Loco., c... American Smelter, c. American Hogar, c... American Tel. A Tel.. American Woolen, c... Anaconda kilning Co. . Atchison, c Bsldwlu Loco., c Baltimore A Ohio, c. . . Bethlehem Steel, e Brooklyn R Transit. . . Butte A Superior Calif. Petroleum, e Canadian Pacific Central Leather, c... Chesapeake A Otiio. . . Chicago A Gt. W . c. . Chicago. M A St. P.. Chicago A N. W.. c. . . Cblno Copper Colorado V. A I . c Oona. Gaa Corn Products, c Craelble Bteel, c IMatlUera Erie, c General Electric Goodrich Rubber Great Nor Gt. North., pfd Greene Can Hide A Leather, c Illinois) Central Industrial Alcohol ..... Inspiration Interbro. c Ksn. City Southern, e.. Kelly Springfield Urkiwtntit Steel Lehigh Valley Maiwell Moors, c .... Mexican Petroleum .... Miami Copper MidvaJe Steel Mo.. Kan. A Tei a, Missouri Pacific W. I.. National Iaad Nevada Consolidated . . New Haven New York Central .... X. Y. Ont. A Western Norfolk A Werftern, e. Northern Psclflc Pacific Mall Pennsylvania Hallway. Peoples Gas Plltsborg Coal, c Pressed Steel Car. e Ray Cons. Cornier Railway Steel Springs. Resdtng. e 27 Vi 4 4714 731 37 a J 09VI 5j 2S 94 4 4S 76 3T 71. 5S 5V, 27V 28V4 94 94 47 47 73 7S 87 HI 87H asv 7i 105'VIO 104V17 US 122 122 51 H 54 H 82 824 L100 14(100 H 0.1 1 4S 72H 72 120 14 11H 122 51 K 81 414 42 Vj 41V4 121h 121 a 5S 2 KS)Vi,;1104 2S 4 7aHl 72V, 141V, an 42 20 In- 93 S 59 V, 11V 74 i no &5J 66 ' 51 51H 10 107 V 24i MV, 014 59 '4, 11 Mi 74' 91 94 59 1 60 ; in,; us 75 i 75 ! I 55 1 5tiS ' 51 V 51 im iiua I 33 j 34 Ki I 85 I 24V;l 25H, 23 2M', 2T,',s, V, 2T.v '157U,il57!a 1WV, 15 fV. 5V. 6OW! 31M 81 107 il07 Ore Lands.1 32 32 1074 17 42 14H 162 62 V4 4 44 49 -V 94 (J 4S 62 4J 42 14i4 14V4 103 i64H ii vmvi 42S 14V,I ML. 9. I 62 9 96V,! 44 64HI 4, 6OV.1 40 1. 96 ' T4 94 41 ; 40s 624 Many Bank AppUcattoas Zxpactad. A grand rush of banks aDDlvlns far funds from tha government commensu- te with the amount of Liberty loan subscriptions passing through tha banks, is expected th latter part of thla week and the first of next. Tha applications are being made through the securities committee, consisting of group of Portland bankers, who pass upon the securities offered by tha bank to guarantee these government deposits. Only six banks have applied so far, and the lists of securities fur nished are either so Inadequate or ao unknown to the committee that the applications of but three of these banks have been approved, lists f tho " balance being turned back far further -. examination, or additions. But tea days remain In which these applies-! -tlons csn be made end tt la known that scores of banks are expecting to aaW--for the government funds. Zaaaxaaoe maimrm Baa. Ths ba ' t tonal board Is advising fir tnsuraaea companies of tha nation that rederal tax returns must be made berora July 31, under th law approved September 8. 1S1. Tha tax is (0 cants on each 11000 fair valuation of their capital stock. The new return la to ba mad -for the period of th entire flnancisl year from July l, 117, to J una 30, 191J. Bailroads Srmaad Lara bar. An other big factor in tha Increaalng da- -' mand for lumber la tha call on rail-, roada in all parts of tha country for new rolling stock, requiring larga , quantities of lumber In their construe- . tlon. The I'nltad States govarnmant. through the national council of de fenae. is said to be conducting nego- : tlatlons for 109.000 freight cars, aaca . one of which will require several thou sand feet of lumber In conat ruction. The construction of new railroad equipment at thla time from stset li . practically out of tha queatton becaasw of the huge ateel orders already plaaad for government and other pa rpoaea. - One railroad alone in tha eaat Is fig uring on the construction of 20SS araot -center sill box cara. and this win re quire between 8. 000. 006 and 10.e,6 feet of lumber Other railroads"-ara now Inquiring In the lumber market , for materials with which to build ' equipment. rood Stored for Artntos. -LArrs quantities of food are being atorad in the eastern warehouses, according to figures Issued by the United States department of agriculture, showing Sn -Increase ln soma rases of mors than : 1000 per cent of the quantities stored last year. Thla la really a prepared ness measure: it Is Mid by government officers, for the stocks are being hold ln readiness for the army or other emergency demand. VI g urea show that ln the middle Atlantic states. It. 141.47s . pounds of poultry were reported In storage by 40 firms. In Jan. Ills. J firms reported a total of 2,Sl,Ti4 pounds. In the north central states, li firms held S7.41t.188 pounds of poultry ss against 1.7i0.40 reported laat year by IS firms. Total flguree for tho " country show that 179 firms thla year reported 64.(34,191 In warehouses against the report of 107 firms last year giving 6.5.0 pounds. DESCRIPTION Open I Hlghl Low IClooe nap. iron m steel c. .. Rock Island W. I 8esrs. Roeouck A Co.. Sr-attuck tvtudebsker. c (? Sheffield Southern Pacific tutbern Railway, e. . Tennessee Copper Tetas OU , Ttxas Pacific , Tiilnl Avenue L'nlon Paelflc, c C. H. Rabter, c V. 8. Steel, c Utah Copier Vliglnls Clicniical, e. W. 1 . Teles rat Weetlngbouie Klectrlo. 171V,, 172 84',. lMj fS, 59W 54 93 V, 9HS V4 27 1 27! 27 18 'A I IOU .-3M .JUtt 84 V 1TO 26 136 1364.136 .. . 90 V, SO 171H 17 MVi 58 in. 27 14 2i 16 ! i:u 00 ha la now serving a term ln tha stats penitentiary, and the trial against Mrs. Wells, charging her with having at tempted to defraud the Insurance com -pany, of which she waa found not; guilty. Mm. Wci:a, In her complaint against the Insurance company, silages): that the property destroyed waa of tha value of talJI.15. She is represented by Logan & Smith and Brownell A Slevera of this city. 12M;i27 123!l2TS 111 V. loss lo9 93 1 93 93 61 52 1 51 4V 92 61 63 V, 9V, 22 HV4 64 V4 4:it 96H 02 14 OH 2i, 57V, 2ts .XVi 9" 22 124 loxu ioisl: i' ' 1 irtu .) 27S) I 27S) 27V 20V! 2S 29 57 67 I 67S ZiV,' 23 23V, J 39V,! to 90Vi; 91Vj BOV. 123 liavt 123 lii'll' ' "aO 1 T ' 1 1 oav. fvivi' C2' 62. 72 73V, 72 T, ! I I 53 74', 764! 744 7S 2SV, 2hH 2JV 2S, 63 5-ii 5.1 I .'.t, 93 I 96 Vi! 94 V 95 v4 Total sales furthe day ware 506,500 shares. Mrs. Wells Sues to Recover Insurance Oregon City, Juna 21. A Jury ln th circuit court Is today hearing tha suit of Mrs. Mary C. Wells of Oswego against the Fireman's Insurance com pany of Newark, N. J., wherein the plaintiff seeks to recover the sum of $1400 alleged to ba dus upon s fire policy, upon property ln Os wego, destroyed August 11, 1915. Thli suit follows tha trials of William C Newman, an old man, who confessed to having been hired to set fire to the Wells home ln Oswego anu for which Chehalis Awakened . N By Heavy Firing Chehalis. Wash.. Juna 21. Awake ened from peaceful al umbers by tha) ' crash and rattle of heavy gunfire and bombardment, eltlsens of Che hall snd. vic-inlty laat night experienced many ot tha moat chilling thrills of an enemy attack ln the dark. The firing bags', just after midnight and was part Of campaign for enlistment started by the national guard company atatienea here. ' PORTLAND FIRE RECORD Wednesday 1 11:23 a. m. Residence of Joo Meyer, 340 Monroe street, sparks from chimney set fire to roof. Ioss. $Ii. , . 4,151.491.00 1 boll .. 2 trails 1 bull . 1 bull . 2 bulls . 1 bull .. 1 calves 11 calves 2 hoga. . 12 hogs . 1 bog .. 2 hoga . 1 bog .. 7 bogs . 2 hogs . 19 lambe 7 lamb is lamb 8 lambs 7 lambs 19 lambs T ewee . 1 ewe . 6 ewea 15 ewes 1 back s! 6 bnrks 1 buck . HEIFERS BLLIJI CALVES HOGS LAJfBS EWES BUCK SHEEP 18 wethers WETHERS 90ft f 7.25 060 6.25 H13 9 6 23 790 6 20 70 4 25 600 8 00 060 6 50 1O.J0 6 2T, 0 fl 0. 940 7.00 470 t 6.00 S50 6.25 1025 6 50 1300 4 75 W 4 () S73 6.25 12i 7.25 130 $ 2-. 150 7 50 215 115.00 22 15.no 200 is. on 435 14.O0 140 13.00 154 14.R3 AiS 15.00 66 $13.25 60 11.25 74 $13.25 90 13.25 60 11.25 66 13.25 112 $ 8.50 10 6.6 123 BiO 129 7.60 130 f 6 00 140 6.50 1130 6.00 130 $10.00 DAIRY PRODUCE OS THE COAST Ssn Francisco Market San Francisco. Jnne 21. il. P.) Batter Extraa. .Vic: Drlme firsts. 36Vc Esc Ktrss. 8'c; extrs flrsu. 29He; extra pi'.lleta, 27c; extra nrsts, pallets, 2Hc. Cheese California fancy. 21c. firsts, 20Vic Seattle Karket Seattle. Jane 21.-(U. P I Better Native Washington creamery, cubes 8Se; do brick. S9c fresh California cube. BAc; 60 brick, S8e. tMf lect ranch. SH37c Cteese tregtn triplets. 27c: Wisconsin trio lets, 2Hc; do twins. 2Sc; Young America, 28c. San FrancLco Grain Market Han Francisco. June 21 Barley calls: Juna 21 June 20 Open. Close. Close. Jolv 3"OB 20rB 190B De -ember miYi ii miv, Wheat Per cental, new honors $3.00(t3.25. IKirl-j Per cental, new feed, $2.15422.20 for ctiole. Oata WhlU. $2.402.45 r-r cental. American Mieat Options Ihilnth Minneapolis 6t- Louis Jnlr. $2.33 .. 2 21V4 . . 2 01 Sept. l"75h 1.7Sa ReaUle Grain Market Closed Pesttle. June 21. (P. N. S 1-N0 grain mar- kets today. Keceipts Wheat, 7 cars; barley. 1 car. Marriage License Record Vancouver, Wash., June 21. Mar riage licenses were isBue'l to the fol lowing couples Wednesday: D. A. lou den. 39, Suver, Or., and Mrs. Alpha Mechllng. 31, Pendleton; Benjamin Hoover, 21, Gresham, Or., and Blanche Adams, 16. Boring, Or.; August Frank, 4 Oregon City, and Mrs. Emella E. Stevenson. 28. Gresham, Or.; William Frank Miller, 24, Barnea road. Oregon, and Ruby Estea Walker, 17, Portland; Clyde Adell Corman, legal, Vancouver. and Magdalene HJertaas, legal. Brush Prairie; Burl Clementa, Tillamook, Or.. and Lillian Adams, 18. Tillamook. Or. Elmer L. Reed. 21, and Haxel Evenaen, 20, Portland. New York Metal &r ket New York, Jun 21. (I. Si S.) Copper Stroug. Spot. 34c: late Jane and early July, 83c; late July. SlHe32c; August and Sep tember, 8030e; Taat anarter, SOc. Tin Firm. Spot, 63 64 He. Lead Dull. June, lliJ12.c; Jnly. 11 a 12e; August. llAlle. Soelter Outet. Jbb -and Jnlv. IUt lata , I deliveries,-e " - "Win Can Cherries North Taklma. June 21. The LJbbr. McNeill A Llbby eannary will start next week with a crew of about 100, taking care of tbe cherry crop as H matures in tbe valley. Superintend ent R. C. Tnxrln reported today that tbe ma- cninexy is prscucaiiy m place, ana two Car loada of sugar will be delivered at tbe plant this week for nse in handling tbe cherries whlrfe are beglnslag to rlpes In the lower valley. More help Is registered for the work man can be put oa at this time. 10 New York Sugar and Coffee New Tork. Jane TJ P.livrf No. T Rio. 10c; No. 4 Santos. 10e. Stocka, Bonds, Cottosa. Crafaa. Eta. 216-217 Board of Trade Building Overbeck & Cooke Co. DIRECT PRIVATE WIRES TO ALL EXCHANGES Trade, aWrs Chi earn Board of Coirospomdaats of Xogan It chlsatjr. JTew TsxX Trsinsportation a "The rsdlways are the arteries of the nation's lifce" EVERY business man, manufacturer, farmer, shipper, investor, savings depositor, life insurance holder, is directly concerned in railroad transportation. The value and importance of the railroads to the entire country Ln war or peace make their welfare at all time a matter of the greatest consequence. s The questions of efficient regulation and fair compensa tion are of paramount importance. The public interest demands the maintenance of railroad credit in order to insure service adequate to the needs of commerce and industry. A better understanding of these questions, and co-operation among the many interests involved will help to solve these problems. We have prepared an analysis of the railrqad situation, outlining its problems and their possible solution, which wc shall be glad to send upon request. Guaranty Trust Company of New York 140 Broadway Fifth Avenue Office Fifth Are. & 43rd St. Capital and Surplus $40,000,000 i-