PETROLEUM SUPPLY jINCREASING
PRICE OF WHEAT IS NOT AS HIGH HERE AS IT SHOULD BE
Edited by
Ilyman H. Cohen
- EditeJ by
Will T. Uessiaa
EGG PREMIUM IS
OFFERED
, There has been a scramble for eggs In
"the local trade during the last lew aays
and while durrent receipt values are gen-
" erally unchanged, the situation Is firm.
1 It dowrlor that koma outnida buninwia hu
hrtn atailabkj bar and aom of those that ae-
C'cpcca carioau onwn wim
. trctna values I in order to ncutt the butt lew
remaining easn for loading. I
Whila tha feeiwral t. o. b. boyinf pries alone
tba Uet rraiaina i at - 4 6c a dozen, some baal
nrM continue at A cant abora thia, but aeller
paid a uramfnm of aeri-ral eenta in aoma in
aianee in uiri-r to .aerar their immediate re
quirement. -" Thi buaines. liowerer, wa not of
T..lura aiiffteisnt to etabluih tba market prica
at the higher f igure that were forced.
Receipts continue to Mow s ucc ei quajuj.
Tltoae desiring apacial information regarding
any market uliould : write the market editor Ore
gon Journal, enclosing atamp for reply.
BITTTEB TBApE STILI, DEAGGISO
Trade in t lie btriter market eontlnuea to drag
here. Sornhja offerings of cube continue little
and the outlet i limited. No price change was
shown for either prints or cubes during the dal.
SMALL
-.!. SOT BEING SOUGHT
I.iUle demi
nd iajjbowing for light weight hens.
Today there
tween hearjr
rather eager
lis 10 to 12 cents differential be-
aiui liirhtweiirht (yvk with buyers
to take-bold of the Utter. )
CHEESE TRADE BATHER ACTIVE
Considerable activity is showing in the cheese
trade locally. L Demand appears .favorable at prac
tically aU Pacific Coant points and the previous
burdensome autvlu appears to have disappeared.
CATCALOllPE
PBICEH HIT HARD
- Hharply
loeer
prices have been forced foe can-
taloupea in
loeal trade with very liberal sup-
rliea Jn from
the sooth. Standards of beat qual
generally arund $3.75 with ponies
flaU at $1.0 per crate. ,
ily are ruling
at $3.00 and
MEAT D
KMA5D COTfTIXTJES JSG
Zemand ft
kt country killed hogs and- calves
continues somewhat in excess of offerings in both
Jineav Oeneril sales of top calves are around 24c
but some stnkll transaction have been reported
lc more. I i ' '
SltlEF ?f CITES OF PROPUCE TRADE
Watermelof prices slightly off.
l"oU'ti trade slightly easier.
Tomato price are lowered again. -'4
BWaberrie were cheaper at $2.75 3.00 per
erat. j - i ;
Few loganberries and raspberries coming.
Second crop strawberries coming in fair sup
ply; demand fair, j i j '
WEATHER NOTICE FOR SHIPPERS
Weather bureau advises: Protect shipments
during the next 38 hours against the following
maximum temperatures: Going north, 80 de
grees; northeast over the Spokane. Portland es
Seattle railway, 80 degrees; east to Baker, 90 de
grees, and south to Ashland, 94 dgrees. Maxi
mum temperature at Portland Tuesday, about
DO degrees. . - i
DAIRY PRODUCE ALONG ; COAST
Sen Fre-nclsco Marfcat
Ban, Francisco. Aug. 0. 1U. P.) Butter
Extras, 60 He.
Eggs- Extra. 59c: dirtien. No. 1, 54 He; ex
tras, pullets, 52c: undersized, pullets, 39c
Cheese; California flats, fancy, 32c.
WHOLESALE PRICES 13f PORTLAND
These are prices retailers pay wholesalers, ex
cept as otherwise noted: .
j- Dairy Product
BUTTER Selling price, box lots: Creamery
prime, parchment wrapped, 67c lb.: prime firsts,
bite lb ; first. 64c lb.; smaller lots at an td
vsnce. - Jobbing prices: 1 Cube extras. 6acj
64e; firsts, - SO S 61c.
BUTTERFAT Portland delivery basis, 62e;
country stations, 57 58c. !
OLEOMARGARINE Best brands, 40e; ordi
nary, 33 He; bakers, 33c; nutmargarine, 1-lb.
cartons, 82c per lb.
- CHEESK Selling price: Tillamook, fresh
Oregon. Jancy triplets, 32 83c per lb.; Toung
America. 34 &r 8.1c, Prices to jobbers, f. o. b.
TUlamooTV Triplets, 29c: Toung Americs, 30e.
fcelijna--pice; Cream brick, 40 42c. Selling
pnee: BlociJtJwisa, 48 49c: limburger, 40 0
42eVper lb. I i
EGOS Bnving price: Current receipts,
46 4 7c: candled, selling price. 62c: select, 54c
per doseo , '
LIVE POTJT.TRY Selling price: Heavy bens.
S7e; light hens. 15 16c; heavy springs, 29c;
old roomers, 10c per lb.; turkeys, live, );
ducks. 25 30c lb.
Fresh Vegetable and Fruit
FRESH FHEIT -Oranges. $6.25 0 7.50 pet
box; bananas. ' 1 1 te ll'c lb.: lemons. $4.60
$9.50 per crate; grapefruit, S4.0O 4.50; can
taloupes, California,; $4.50 5.60; Malaga grapes
$4.00 per crate; seedlesa grapes, $3.50; Cali
fornia pearhe. $10 2.23; Oregon, S1.&0O
1.75: reach ).lnmi. $t.SO crate.
APPLKS New. i $1.23 3.00.
IiKIKD FKU1T Dates, Dromedaries. $7.50;
Fardt. $4.00 per box; figs, $2.5O6.0O box.!
ONIONS Belling price . to retailers:- New
Walla Walla. $1.60 1.75; garlic. 25c per lb.;
green onions. 23 40c dozen bunches; onion
sets. 17 elc lb. i
POTATESJ Selling price: Oregon, fancy;
sea He.
. SMtHIbS -Birawnemes, 9a. i o jmr crmie;
Taiipberries, $3.508.75; Ingermerne. $3.25$
8.50; blackberries. $2.75 3.00.
VEGKTABLklS Turnipn. $3.50 sack; cars
tots. $4.00 rack; beeU. OOo dozen bunches; let
tice. $1,631.7". crate; cucumbers, V5(r5Uo
box: tomatoes. $1.35 1.50 r egg plant, 10
12 He pound; broccoli, ( ) ; bell peppers, 20ci
celery, $2.25 2.75 dozen: string Deans. 4o lb.
MaaUi and Provision j
COCNTRY MEATS Selling price: Country
bogs, 24o lb. for top' blockers; heavy, 18c;
Teal. 24c; heavy veal. 17e lb. '
SMOKED MEATS Ham. 4146o per lb.;
breakfast bacon, B36c; picnics. 23e per lb. j
eottsge roll. 83a per lb.
LARD Kettle rendered. 26e lb.; tUndsrd,
S3 Ha: tierce basiaj comDougO. 21 He
i Fish and Shellfish
. FRESH FISH Salmon, fresh Chinookr. 17 &
18e lb.; halibut, fresh. 1318o per lb.; stur
geon ) ; bUck cod. 10llc lb.; kippered
salmon, $2.60 per 10 lb. basket; kippered cod,
$2.35; rsxor clams, ( ); crabs, $2,73 fig 3.73
duaen; lias; cod. 6 g 8e per lb.
. Oroearia
SOOAR Nominal prices. refinery bails:
Cube, $28.85; fruit and berry, $J3.00; D yel
low. $22.40; granulated. $23.00; extra Cy
$22.60: golden C. $22.60. '
HON EX New, $7.00 d 7.50 cam.
RICE Japan atyie. No. 1, 12c; New Or
leans bead, ( ) ; Blue Rose, 14 e per lb.
SALT Coarse, half ground, 10 0. $17.23 per
ton; 60s, $18.75: table dairy, 60s. $27.23:
bales, $3.30 4.00; fsncy table and dairy!
$30.50; lump rock, $26.60 per ton.
BEAN'S- bales by jobbers. Sir all white, 7 Ho
per lb. ; large white. 7 fee lb.; pink. 8 Ho lb.;
lima. 12 He; bayou. 11 He; reds. 10 He; Ure
ses beans, buying prices, nomimu, 5 Ho lb.
CANNED MILK Carnation. $6.60; Borden.
$6.50; Astor. $6.40; Eagle. $12.35; tabby.
$6.50; Mount Vernon, $6.40 per case.
COFFEE Roasted. 8448e in sacks or
' drums. . '
SODA CRACKERS Tn boik, 20c per lb.
NUTS Walnuts. 33 40o per lb.; almonds,
! 88c; filberts. 3 lie in sack lots: peanuts. 14 H
i g 15c;-pecans, 26c; Braxlla. 85c.
' Rope. Paints, Oil
ROPE Sisal, dark. 18 fee; white, 20e lb.:
Undnrd Manila. 26 He.
I LINSEED OIL f Raw. bbl.. $1.83 gal;
kevUe boiled, bbls.,1 $1.83; raw. cases. $1.98:
boiled, cases. $2.00 gallo-i. i
COAL OIL Pesri or water white in drums
er iron bertela. .17 He gallon; cases. SOe per
; gallon.- V . - ' . . .
GASOLINE Iron barrels, 29 80c; cases,
.'41 He; engine dstiilate, iron bamU. 16c; cases,
16 H c. i -, - .
WHITE LEAD Ton lots, 15c; 600 lb.'
15 He per lb.
Trniv'Tivr Tv, e o n . ...
-."- . v v . tun a2.fi:
10 ease lot, le iesa.
Hops, Wool and Hides ' '
HOPS Nominal. 1 1819 crop. 70c per pound.
11 IDEA Nominal, No. 1 salt cured hides
(under 45 lbc, 13e; No. 1 salt cared bides
(over 45 lbs.). 14c; No, 1 salt cured bull
bide.' 12c; partly cured hide le per lb. less;
green bides, 2c per lb. less ; hair slipped hides,
cae-third lea than No. 1 hides. -OaJf
and Kte SSIns
Nob 1 trimmed calf skina (up to 15 Tbs.1
SS30c; No. 1 trimmed kip skina (13-30 Ibe.).
16c ; hair slipped akin, one third less than No.
X skina. , . - .
Dry Hides end Skin V
Dry flmt hides 7 lbs. and up), 25c; dry
flint bulla, 17c; dry flint calf skina (under 7
lbs.). 35c; dry salt bides (7 lb, and up). 20c;
dry salt bulls. 14c; dry salt calf skins (under T
Iba.). 30c; dry cull hides and skins, half price.
f :.I.,;!L;. :- Horse Hides
' Green or salted Large, well takea oft hides.
$8.00; pony and small hides. $4.00: dry horse
bides. $1.50 to $3.00; bides with head oft,
60c less; bone tail hair, per lb., 25c; hone
bane hair, per lb., 15c
MOHAIR Nominal. .
TALLOW AND UREASE No. 1 tallow, 8c;
OFT
MAR-ICE T;
f BASKETS
T ken.' la t1s- awes I 4VlA TltlhHC Wi 11
V aWf3ID- IV lVIV aW - S
be compelled to shovr its strength again
If It cares .to secure; raisins
T3erelopments recently iri the raisin
market. Indicate that there will be a
most ) serious attempt on the part of
Callfrnla interests to put values to an
excessive level, v ; !
At a recent trial auction in New York
the growers association sold about 150
carloads at a price that will average bet
ter than 23c a pound, a quotation that
la considered very excessive by the trade.
It developed that practically all the
goods went to Interests that are acting
for ,an Independent jpacker of Fresno,
Cat This ha given i some of the tradw
the opinion that the independents, which
nnnlrnl MTirMimntl)v 10 tier Cent Of
the American output of raislna, and the
growers' association, wnicn comruu
about 90 per cent, are not inclined to
hurt jeach other. I !
At j the prices paid for these Initial
offerings of raisins. 1 the value will be.
beyond the purse of the average con'
Burner and it is quite likely that a war
between the association and the con
sumer will be the outcome.
Consumers can do without raisins and
therej is already talkj of importing sup
plies.! ' : i
Thei following prices are average ones con
sumer are expected to pay retail stores. Quslity
quoted! is s Tenure, fancy stuff being sughtly
higher and inferior stuff fractionally lower.
Butter Best creamery print. 6264e.
' Egss Fresh laid, 60c dozen; fsncy fresh,
55c er dozen. ! '
PouJtry Chickens, dressed, 30 40c per lb.
Kwh Salmon. 25c per lb.; halibut, 30c lb.
Flour Bent local patent. $3.30 4.30 per
tack 49 pounds.
Potatoes Burbanks, 4 H 5c.
Oniem Dssed. 3H4c lb.
Strawberries Oregon, 20c per box.
Ka-spberries Local. 2 Or per box.
' Logan berries Fancy, 15c. t ,
Blackberries 15c per :box.'
Cash Houses Are
Sellers of Wheat
At the Advance
j ! I,
Chicago. Aug. 9. it. N. &) War talk
infiunced grain futures on the board
of trade today.
: It induced a rush of overnight buying
orders from the country and caused a
bulge of 3c in wheat and corn at the
opening. The upturn met heavy realis
ing sales and prices : slumped to Satur
day's! closing levels.
The close showed net losses of H94c
for December wheat, while March was
unchanged. ; September corn dropped
2c and December lc : oat lost
1S1C for September and HSc for De
cember. September rye gained V4lc.
whllei December lost 2c Barley declined
2c. Pork lost 60c, lard 2532c, and
ribs jl2V317ttc.
i
Chicago, Ang. 9. (I. N. S.) With a scarc
ity of; offerings and only a few small buying
orders wheat started 2e to 3 H e higher for
December and 3 H c up for March. On the up
turn there was selling by cash houses.
Corn opened 2. He to 2 H c higher for Sep
tember and 2 H c lower to lc higher for De
cember. Offerings were light and there was a
rush otf ahorts to cover.
Oats started Hc.to'4c higher,! with very
light trade. A little buying was encouraged by
the strength of corn, but volume of business
was amall. . ; j :
Chicago
range by United Press
WHEAT
Open. High.
,'. 236 286
. . 239 239
. 1414 150
, . 123 127
OATS
. . ! 78 H 74 H
, . i 70 72 H
PORK
, .2500 2525 2
Open nominal;
LARD
.1900 1900 - 1
.1905 1020 1
RIBS
,.1330 1360- 1
T-iow.
231 H
233
143 H
121H
70 H
69 H
475
; close .
Closei
-232t j
235!H
143T
t22h
! 704:
69
Dec.
Men.
Sept
Dec. .
Sept. .
Dec. .
Sept .
2505
Oct
Sept
Oct
Sept
Oct
2590 !
860
9U0
532
567
1875
1903
1537
1372
.1390 1590 1
Schallinger Goes
To San Francisco
Carl Schallinger. ' long connected with tie
Henningsen Produce company and the Hazelwoed
of this city, has resigned and deVrted for San
Francisco, where he will enter- the brokerage
business under hi own name. He will make is
specialty ot eggs, butter, cheese, poultry aad
milk products. ; f J
Mr. i Schallinger is one of the best known ana
respectied men in tb trade here and has bean
connected with the creamry industry for many
years, having started . in 1888 in Minnesota.
AMERICAN LIVESTOCK PRICES
'II , Chicago Hog $16.35
Chicago, 'Aug. V. IL N. S.) Hog Rre-
ceipts. 32,000; steady to 10c higher; poorer
grades up. Bulk, S14.151G.23; top. $16. 3I;
heavyweight, $14. 63 13.85; medium weight,
$1.V16 16.30; lightweight, $15.35 18.33;
light I lights. $13.25 (? 16.10; heavy packing
sows, smooth,' $14.00 14.50; packing sow,
rough,! ,$13.75 14.00; pigs. $14.50 16.7$.
Cetth! Receipts, 16,000; beef butcher cat
tle, steady j to strong; calves, alow and 60c
lower. I : 'r -I.
Beef Steer - Medium and heavyweight,
$16.0017.25; choice and prime, $12.23
16.00e medium and good, $12.23 & 16.00 : light
weighti $14.5016.75; common and medium.
$9.00 14.00. -
Butcher Cattle Heifer. $6.00 14.90;
cows. 5.0O 12.50; bulls. $6.00 11.73.
Canners and Cutters Cows and heifers. $4.00
&6.50; canner steers, $4.50 7.00; veal calves
( light and bandy-weight), $14. 00 15. 50; feed
er steer. $7.50 ll-rSO; stockera steer. $5.00
9.7$: stocker cow and heifers, $5.00 8.5$.
Sheep Receipt. 26,000; mostly 25c lower.!
Lambsi 184 lbs. aownj, a g is.ou; lama
(cull I and common), $7-5011.50; yearling
wethem. $8.60012.00; ewe. $6.508.50:
ewes (culls and common), $8.0006.00; breed
ing ewes, $6.60 11.00; feeder lambs, $9.73
W 12.00. , -, . l
f Denver Hog $16.60 i
Denver, Aug. . ( V. P. ) Cattle Re
ceipts,, 1800: steady. Steers. $9.00 13.25;
cows and heifers, $7.00 10.25; stockers srai
feeders, $6.50 8.50: calves. $10.00913.00.
Hoe Receipts. 800; 10c to 13c highei.
Top, $13.60; buiK. aie.ou iff 15.su.
Sheep Receipta, $300; steady.
Lamha,
$11,010 12.90; ewes. $a.ou6.50. j
j Kansas City flog S1B.S0 j
Kansas City. Aug. 9.-i(L N. S.) Cattle t
Receipts. 20,000; mostly steady. Steers, $9.0$
W16U0; cows, $6.00 013.00; Blockers and
feeders, $6.00 13.00 : ! calves, $9.00 14.00c.
Hogs Receipts, 8000J 10c to 16c up. Bulks.
$15 S5 15.80; top. $13.90; lights, $15,40 3
15.84; medium, $15-40 16.90.
Sheep Receipts, 8000; 25c lower. Ewe
$7.50 & 7.75: lambs, $12.00 13.00. i
j ; Seattle Hog $19.00 ii
Seattle, Aug. 9. (L-i N. S.) Hogs Re
ceipts. 118; stetady. Prime lights, $18.503
19.00; -medium to choice, $17.00 18.00 1
rough heavies, $15.50 16.50; pigs, $13.50 m
15.00. ' i . .
Cattle Receipts, 670; weak. Prime steers!
$ip.i50eil.OO; medium to choice. $9.00 1
,10.00; common to eood, .$7.00 8.50; bead
cows! and heifers. $7.25 7.75; - medium to
choioe. $5.50 fc 8.50; common to good. $4.50
(S? 5.150. : . i . . : . . . ; :
. Kheen Nona. i : ' " i I
I , ' Chleago Dairy Produce
Chicago. Aug. 9. (I. N. 8L Butter Re
ceipts. 13.1 SO tubs; creamery, extra. 62 He;
atandards, 46 51c; seconds, 34 40c-
Eggs Receipts, 7982 1 case : misceuaneou,
4S(448c; ordinary first. 4204SC; first. 46
47e; check. 80 35c; dirties, S3938c . ,
Cheese Twin.- new.i 23 23 He; dairies,
23 H 24c; : Young Americana,. 23 He; long
borne, 25Hc: brick. 2627Hcl
Live Poultry Turkeys. 45c; chickens, 82 H
Sc; roosters. 38 40c; springs. 23c: aeesa.
20 3 23c; ducks. 29c -. . aws,
:;,t-j-; - !
1 Liverpool Cotton Market "
Uverpool. Aug. 9. (L N. B.) Fair de
mand for spots at opening. Price easier. . Sales.
8000 ; v
American mid. fair. 83.20; good mid.. 29.43:
full mid.. 28.20; mid.. 26.85; low mid. I
23.18; good ord.. 19.7ft; ord.. 18.70.
Futures opened quiet and barely ateady. -
No. 2. ; No, 1 grease. 7e; No. 3 gTeas. 6e
GaSCARA BARE New paeL SOc par lb.: old
WHEAT BIDS ARE
E
HOW WHEAT RULED
Bid
Rise
Se
Hard white
Soft white ......
White elsb ......
Hard winter ....
Red winter ......
Jforthera spring
Re A Walla
$1J7
a )
7e
le
5c
NORTHWEST GRAIN RECEIPTS
-tlars-
Wheat. Barley, (lour. Oats. Hay.
Pert land, Mon. 09
Hessou to date 1343
T zooms, Sat. . . 5
Season to date 238
Seattle. Sat 4
Season to date i 104
1
1
10
10
1
10
3
22
83
J20
5
37
84
1
7
1Q2
.. 17
' . . 234
By Hyman H. CoSien ' j
Portland grain buyers must bid up for
supplies if they intend to - participate in
the general selling at interior Pacific
Northwest points, especially where there
is competition from other sections. The
fact remains that Portland bids have
been the lowest in the tidewater markets.
Difference of from 4c to 6e a bushel in favor
of other markets has been shotvn in the bids
for wheat recently. This is utterly out of line
with conditions and a continuance of that con
dition will mean a blow to Portland'a prestige as
a wheat buying and shipping part-.
At the beet Portland should be aa high if not
higher than other markets for wheat and mem
bers of the Portland Merchants j Exchange asso
ciation are viewing with some ialarm tlie fact
that they are being outbid for. country offerings.
Wheat market looks very favorable at this
time with an early advance in Chicago. In re
gard to the general situation the Chicago Tribune
says: i j
"Leading tskders who have ; been bullish on
grain for two weeks, after investigating condi
tions at the seaboard, say they find both condi
tions. Transportation is the main Oiing and the
attitude of the farmer is a most important fac
tor. The latter are not selling (rains, especially
wheat, while large sales of winter wheat have
been made for export, and the movement is not
sufficient to enable seller to obtain the grain. I
FI.OL'B Selling price, mill) door: Patent,
$12.93; Montana spring wheat. $13.25; Wil
lamette valley brands, $11.20; local straight,
$10.80; bakers' local. $12.93 18.25; graham,
$10.80; whole wheat. $1 1.05. Price for city
deliveries 15c extra: suburban, 20c extra.
HAY Buying prices, nominal: Willamette
timothy, fancy. $23.O028.0O per ton; vetch.
e-22.no; cheat, S20.OO; straw. SIO OO; clover.
$22. OO; grain, ( ); alfalfa. $24.00 a ton.
URAIN SACKS Nominal. New crop deliv
ery: No. 1 Calcutta, 15 1 6c; domestic, 16 H
317c in car lots; less amounts Higher.
MILLMTVFFS Hill run at mill, sacked.
$50 OOO GO. 00. 1
OATS Per ton, buying price: Feed. $48.00
62.fl0.
BARLET Buying price: Feed. $46.00 &
a i.uu; mining. l47.6fl)9Z.v: rolled barley.
selling price, $57.00 68.00.
SLty uuying price: lied clover, recieaned.
35e per lb. j
Merchants Exchange bids: '
WHEAT
Sept.
227
225
225
225
225
226
Oct
227
225
225
225
225
226
223
Nov.
227
223
225
225
225
226
223
Hard white
Soft white
White Club . .
Hard winter . .
Red winter . . .
Northern spring
Red Walla . . .
No. 3 white .
223
FEED OATS
4750
Aug.
4800
Sept
4600
4 500
6000
j
BARLET
No. 3 blue . . .
Feed .
No. 3 yellow . .
K&strrn corn.
No. 3 yellow . .
. .;. .4750
. .460O
, ... .610O
in bulk :
6100 6000
POTATOES AL050 THE COH8T
Seattle Market !
Seattle. Aug., 9.' (U.. P.) Takima potato.
Genu. $110 per ton: local, 4 0 4 He per lb.
San Francisco market
San Francisco, Aug. 9. (U.i P. ) Potatoes,
old, 10c; new, 6 H 8c. I
Onions Tellow. $1.00 1.50.
Field peas. 5c
Los Angela Warkat
Los Angeles, Aug. 9. (L Nj 8..) Potatoes
Local Early and White Rosel fancy No. 1,
mostly $1.25 1.50; No. 2. !5075c lug;;
sacked No. 1, $2.50 2.75; Stocktons. $3.23
3.50. . I
DAIRY PRODUCE ALONG COAST
Lee Angeles Market
Los Angeles, Aug. 9. (L N. 8.) Butter.
62c. i
Kggs Fresh extras, 54c; case count, 51c;
pullets. 47c; peeweea, 31c
Poultry Unchanged.
Seattle Market j
'f Seattle. Aug. 9. (U. P.) Butter City
creameky, cubes, 56c; bricks, 57b.
Keg? Fresh ranch, 58c; pullets. 47e.
. Milk $2.90 per ewt j
; j
Stw York Butter and Eggs-
New Tork. Aug. 9. (L N. !8.) Butter
Market steady. Creamery, extra. 54 0 57c; do
tints, 50 0 67 He; do higher scoring, 54 H
58c; state dairy tubs. 46 53c.
Cheese Market dull. State, 27H28c;
whole milk specials, 25H26Hc: do fancy.
28 H 29c; Wiconin. whole milk, fancy Young
Americas. 16H17Hc: state, skims, special.
15i16c: do choice. 12 14 He. .
Eggs Market ateady but tweak. Nearby
white, fancy. 68 0 70c
; Dried Frnlt and Beans
New York. Aug. 9. (I. N. 8.) Beans
Market steady. Marrow, choice, $11.50; pea,
choice. $7.00 8.00; red kidney, choice, $17. 5U.
Dried Fruits -Market steady, i Apricots, extra
choice to fancy, 26 0 27c; apples, evaporated,
prime to fancy. 11 018 He; prunes, 30s to 60s,
17 H (a 25c; do 60s to 100s. 1 11 H 0 16 He;
peaches, extra choice to fancy, 19 H 0 21 H e;
seeded raisins, choice to fancy, 28 H 0 25c.
' "Weston Crops Get i Rain
Weston, Or., Aug. 9. A gentle rain has been
falling steadily since & o'clock in this vicinity.
Harvest operations are suspended but great bene
fit will ensue to late crops, garden and pasture.
Moisture will insure a bountiful yield in the
Weston mountain district where crop conditions
are more promising than for several years past
San Francisco Grain Market
Ssn Francisco, Aug. 9. (TJ. P.) Barley
Spot feed per cental. $2.20 2.30; shipping,
$2.50 2.53. - ;j
San Francises Ponltry1 Market
St Louis, Aug. 9. (O. P.) Broilers, 86 0
38c; large hens, 85 088c; best ducks, 20 025a
Mlnneapolig-Dnlath Flax "
Tniluth, Minn., Aug. 9. (I. N. 8.) Plax
September, 3.36; October, 3.39; November,
8.41; track, 8.34 0 3.41; arrive. S.84. i
Minneapolis. Minn., Aug. 9. r(L N. S.)
Plax. 3.3108.33. . n . ; j
Chleago Potato Market !
Chicago, Aug. . (I. W. 8.) Potatoes 7
car. Wisconsin. Minnesota, i Dakota and
Ohios. $8.00 6.25.
New York Potato Market i
New York. Aug 9. (L N. 18.) Potstoe.
in bulk, barrel or bag. market ateady. Nearby
white $104.50; southerns. $4.2506.00 j
JTaral Stores Market : I
New York, Aug. 9. (. N. S.) Turpentine.
Savanah $1.83; New York $1.70u
Rosin. Savannah $12.00; New York, $13.00.
Money and Exchange'
New Tork. Aug. . (I. N. 8.J Call money
on the floor of tbe New York stock exchange
today ruled at 7 per cent: high, 7 per cent;
low, 6 per cent Time money was firm. Rate
were 8 H 9 per cent. ; '
' The market for prim merantile paper was
steady. Sterling exchange waa steady, with
business In bankers' billa. at 362 if or demand.
Rain Stops Harvest
Pendleton, Aug. . Wheat harvest and bay
ing were stopped again this morning by a down
pour of rain. Tb iminfall is general and tbe
heaviest since early summer.
Sew York Wool and Hide
New York, Ang 9. (. N. 8.)-t Wool market
dull. Domestic fleece XX Ohio. 28 0 57c; do
mestic pulled, scoured basis, 4Oc0$1.13; do
mestic, Texss. scorn red basis, 6Oc0$l.$0.
Hide Market steady, native steers, $23 0 2$
Branded steera. $24027. fi .. . . "
??ew Tork Sugar ana Coffee
New "York, Aug. 9. (U. P. ) Coffee No- T
Bio. 10 He; No. 4 Santos. 16 H 017 He.
Sugar Qniet ; raw. $16.29; refined, quiet:
granulated. $21.00 0 22.50. : -
NOT HIGH
NOUGH
POLISH TROUBLES
ET
New York,' Aug, 9. TT. P.) After a
turbulent day; prices on the stock ex
change were steadier atj the: close today.
The market was nervous throughout the
day, after a "big slump at the opening.
During the fourth hour, however, gains
were made by practically all leaders and
these were maintained until the close.
Reports of the Russian-Polish situation,
a drop ; In foreign exchange, especially
demand sterling, and the reports of cot
ton, mills in New Kngland closing were
the bear factors. : j i
The timid traders rushed for cover at
the opening and for a jtime there were
scenes resembling the jwild market on
June 29, 1914, when th4 European war
broke out. Improvement in the demand
sterling- quotations and optimistic re
ports on the Russo-Polish situation from
Washington, ctupled with the decision
by the conference of j Premiers Lloyd
George and Millerand at Hythe not to
send troops to- the aid of the Pole
caused the market to strengthen toward
the close. - -
United States Steel common sold up
to 854 near the close, j after an early
low, which was also -a hew low for the
year, at 83. Atlantic Gulf reacted
five points and International Paper over
two points. i
New York. Aug. 9. The stock market
opened today with the general list down
from 1 to 3 points on! reports of the
seriousness of the Polish situation. In
dustrials and oils were especially weak,
while the rails held steadier.
United Fruit wss off 3 st 187, Baldwin off
1H at 104. and Food Products off 2 at 56.
Other opening price were : Tobacco Prod
ucts 81, off H; Mexican j Petroleum 152 H.
off IK: International Paper 72. oft 1 ; New
Haven 33 H. off ; Republic Iron and Steel
79 H. off 1; Southern Railway . 27H. un
changed; Sinclair 25, off iH ; Pan American
Petroleum 79, off 1; Delaware, Lackawanna A
Western 240, off 3; Reading 87 H . off H ;
CruciWe 120, off H : United States Steel 85 V.
off 1.
During the first hour Mexican rettroleum.
United States Steel common. Republic Iron &
Steel, Bethlehem. Retail Stores. Baldwin and
United States Rubber made! new lows for the
year. There was little strength apparent in the
market during the first hour' trading. There
was considerable liquidation of stocks, espe
cially industrials, still in progress. . Kail con
tinued to bold fairly well. i
Furnished by Overbeck
ef Trade building:
Cooke Co . Board
HITSTOMARK
DESCRIPTION : Open High Low Close
Alaska Gold 1 HI IV 1 I 1
A Ilia Chalmers ... 30 130 28 28 H
Alloy Steel . . 40 40 3941 39
Am. Agr. Chem... 75 H 175 75 75
Am. Beet Sugar ... 77 77 75 I 75
Am. Can. c 32 32 H 80 HI 31
Am. Car Fdy 131 H 133 131 H (133
Ain. Cot Oil 25 25 24 H i 24
Am. Hide & Lea., c 13 H 13 13 H 13
Am. Intl. Corp 67 .68 65 H I 68
Am. Ijnseed, c 62 62 62 61
Am. Loco., e 93 '94 91 j 83
Am. Smelter, c... 64 H 54 H 52 j 62
Am. Steel Fdy.... 34 34 33 H I 33 '4
Am. Sugar, c 117 117 115 116 H
Am. Tel. It Tel... 95 98 95 95
Am. Woolen, c... 74 75 73 72
Am. Zinc 11 H ll'H 11 11
Anaconda Mining Co. 50 H 60 49 60
Atchison, c . 79 79 78 79
Baldwin Loco., c. . . 104 104 100 103
BaL ic Ohio, c. .. 33 33 32 33
Beth. Steel B 70 70 68 69
Brook. Rapid Tran. 10 10 10 10
Butte lc Sup i; ; . 16
Canadian Pacific 115 116 113 H 114
Cen. Leather, c. . . SO H 50 40 H 50
Ches. & Ohio.... 63 '66 53 54
Chgo. Hit West-, c 1 7i
Chgo., Mil. & S. P. 33 83 H 32 33
' !lH0- N- W... 67 68 67 68
! Chile Copper 13 13 12 13
Chino . Copper 26 25 24 25
Col. Gks & Elec... 50 SI 50 51
Colo. Fuel & Iron. 30 30 30 30
Consoli Ua ..... 79 80 78 80
Corn (Trod., c . 84 85 83 84
Crucible Steel, c. . 126 128 122 H 121 H
D. Sc. K. ii., ...... 5 i 5 - 4 4
JV"e. ,. 12 12 12 12
Fiske Tire 26 27 25 26
(ieneral Cigar 50 H 60 59 H 60
General Electric .. 138 188 130 H 187
General Motors ... 20 H 20 19 20
Gt Northern Ore. 31 81 -30 30
Gt Northern' Ky. . . 72 72 71 71
Greene Cananea . . 23 24 23 24
Gulf Coast Steel.. 41 44 41 44
Illinois Central. 82 82 82 82
Industrial Alcohol.. 80 H 80 78 79
Inspiration Copper. . 45 43 53 44
International Paper.. 72 74 71 73
Int'ioral Harvester. 118 118 117 118
Int. Mer. Mar. c. . . 23 23 21 21
Int Nickel 17 17 '16 16
Kas. City South, c. 17 17 17 17
Kennecott Copper.. 23 23 22 22
Lackawanna Steel .. 64 63 63 64
Lehigh Valley !..... 43
Mexican Pet 152 152448 150
Montana Power 59
Miami Copper 18 18 18 i8
Midrale Steel 38 88 37 37
Missouri Pac, c. . . 24 24 24 24
Natl. Rnamel 53 53 50 62
National Lead 70 71 70 70
Nevada Cons 11 11 10 10
New lis Ten .' 33 83 33 33
N. Y. Air Brake... 67 68 67
N. T. Central 71 71 70 70
Norfolk AW 83 89 81 88
Northern Pac 71 73 71 73
Okla. Ref. and Prod. 3 13 3 3
Pure Oil 37- 37 36 86
Pan Am. Pet, c... 79 79 75 77
Peon. Ry. 40 40 40 40
Peoples Gas ...... 28 28 27 28
Pittsburg Coal. c... 54 58 53 65
Pressed Steel Car, e. 95 96 93 94
Ray Cons. Copper.. 14 14 13 13
Ry. Steel Springs... 92 92 92 92
Reading, c- 87 87 85 86
Republic .Steel, c . . 79 79 76 78
Rock Island, c... 34 34 32 32
Sinclair Cons. .... 25 25 23 24
Sloss Sheffield 59 60 59 58
So. Pacific 91 91 1 89 91
So. Railway, c 27 27 26 26
Stromberg Motor . . 65 65 61 64
Studebaker. c . . . . 61 62 69 61
Shell 60 60 58 59
8t L. & 8. F. ... 24 24 22 23
Tennessee Copper.. 9 9 9 9
Texas Oil 41 42 60 41
Texas Pacific .... 35 35 31 32
Tobacco Prod. ... 61 61 59 69
Transcontin'tal Oil. 10 10 9 10
Union Pacific, e... 116 116 114 115
United Fruit 187 190 184 188
II. 8. Rubber, c. 82 82 80 81
V. 8. Steel, c 85 85 88 85
Utah Copper 61 61 56 68
Vanadium Steel.... 64 '64 60 62
Vir. Chemical, c. 62 62 62 61
Wabash 7 7 7 7
Western Union 82 82 82 82
Wesfhouse Electric 46 46 45 45
Willys Overland... 16 16 16 15
Total sales.
$8,087,000.
stocks 1,000,400 shares; bonds.
80TJTH SELLS COTTOX BUT
WALL STREETj IS A BUYER
New York, Aug. . (L N. 8.) Prices
dropped 25 to 36 points at the opening of tbe
cotton market today under selling pressure due
to weak cables and the tense European situation.
There was considerable selling by New Orleans
and other Southern porta but Wall street bought
on tbe decline. From the initial level the prices
declined about 25 points further but beeam6
steadier at the end of the first 20 minute.
Furnished by Overbeck Sc Cooke Co., Board
oi -i raae nuuaing:
Month
Jan.
Feb.
Mch.
April ........ t
May
June .........
July
Aug. ..........
Sept.
Oct .
Nov. ...
Dec
New York spot
Open. High. Low. Ckwe.
2920 2933 2892 2906
J . . .... 2K83
2900 2905 2855 2868
.... . .!. . .... 2840
2855 2860 2810 2815
.... . .i. . . . 280B
2813 2R15 2790 2790
.... 3390 3370 3350
i. . .... 8280
3180 3195 3185 8170
i. . .... 3105
3045 3070 8010 3025
market barely steady; spot
quiet, 50 down; mida. 3000.
' Liberty Bond Sales x
' (Furnished by Overbeck A Cook Co.)
: umn.
Liberty. 3 Hs. . . . 0093
Liberty, 1st 4s. .....
Liberty, 2d 4s... 8436
Liberty 1st 4. 8536
Liberty, 2d 4. 8466
Liberty, 3d 4 . . 8850
Liberty. 4th .4 . 85
Victory, 4 . ... 9564
Victory, 3.... 9564
High. Ixnv. Clone.
9092 9082- 9082
..' v 8520
8454 8434 8450
8550 8536 8536
8474 8460 8450
8862 8846 ' 8860
8516 ' 8500 8502
9568 9562 9562
9568 9364 9560
The first electrolytic xlnc smelter has
been constructed In Norway to Increase
tbe production of old mines and stimu
late the -development of i new cmea.
CATTLE AND LAMBS
SHOW VEAK TONE
, LATEST LIVESTOCK REPORT
Hogs Market continued firm.
Cattle Market $ lower with ex
ception of cheap grade rows which were
Steady. :
Sheep Lambs eontlnned slow.
PORTLAND LIVESTOCK RCN
Hogs.
839
656
8 5
60S
556
000
1146
3881
Catae.
2690
2660
. 2381
1 732
1904
1400
1540
530
Calves. 8heep-
i BOO 2285
Monday
Week ago
Two weeks ago. . .
Four weeks ag. .
Year ago ......
Two years ago. . .
Three years ago. .
Four years ago, . ,
873 WH74
217 8083
73
2416
163
125
13
1
1505
M00
656
944
Hogs were firm, cattle were slightly
lower while sheep were stagnant at the
week's opening- trade. Carload lots in
cluded 133 of which 23 went to outside
points direct. .
Ea-t of the mountaoin shippers flooded the
msrket with supplies of mutton end lambs st
the week's opening. They were induced to ship
by riajion of the tact that while Willamette val
Uy lambs had been on the price toboggan re
cently, no change waa shown in interior offer
ings, due to Oie lack of ma net supplies. ,
At the week' opening there was a total of
2283 head reported in the North Portland- mut
ton alleys and killer kept away from there with
the sole intention of forcing values off. It was
a buyers' market entirely and they were in full
control of the trade. ,
(Jeneral sheep sfnd lamb range:
East of mountain lambs . . .
$11.00 11.50
alley lambs
Cull lambs ..............
Yearling ................
Wethers
Ewes ..t.
0.0O(tf 8.00
COO 8.00
.oo 7.UO
;6 00(p 6. f0
2.25 0 6.00
Cattle Start tower
While not enough "cattle were sold at the Mon
day opening of the North Portland market to
firmly establish prices, then, the few aalea made
in initial deals" were probably 15c to 25c below
those made during but week. . Killers were dis
posed to hit the msrket again and aa there were
2690 head in sight, their eontrol was absolute.
A total of 22 cars were for outside killers and
did nut enter the trade at ail.
General cattle range:
Good grass steers
..$
0.50 10.00
0.00 0 9.60
Cood to choice steers ..........
Medium to good steers ........
Fair to. good steers ..........
Common to fair steer
Choice eows and heifers .......
Best feeders
Fair to good -
Good to choice cows and helfess.
Medium to good cows and heifers.
Fair to medium cows and heifers.
Canners - - - -
Bulls
Choice dairy cattle.
Heavy calves
Befit light calves -
8.00 0
7.00 0
6.00 0
7.00 0
6.50 0
5.760
6.50 0
6.5O0
4.5O0
2.50 0
6.00 0
9.00
8.00
7.00
7.50
7.00
7.25
6.50
6.60
5.60
4 00
6.00
13.000 15.00
7.00 0 9.00
11.500 13.00
8 wine Prices Hold
It was another very good market for swine in
tbe North Portland alleys for the week's opening.
Total run was but a fraction over eight ears and
of this amount one car did not atop here. Early
sales in the bog division were around previous
top figures.
Oeneral -hog market range
Prime mixed
Medium mixed
Rough heavy ...........
Smooth heavy
Pigs ....
...$18.00018.75
.. 17.50 018.00
. . 12.00 014.50
. 13.50016.50
.. 13.50 016.50
Monday Morning Sara
STEERS
No. Av. lbs. Price. 1 No. A v. lbs. Price.
24.... 1005 $10.00 I 27.... 1035 $ 8.83
2.. .. 985 8.O0 I 5... ,1134 7.50
18 1205 9.50 j
COWS
2 1045 $ 7.35 1 890 $ 7S63
'1....1080 7.35 8... BB6 7.60
7 847 7.35 12 1032 7.85
20..., 900 7.50 9..., 983 6.40
33.... 885 7.00
CALVES
14..,. 262 $12.00 65.... 214 $13.00
8.... 200 13.50 SB.... 221 13.60
5.... 102 15.50 14.... 231 8.00
21 219 13 50 5 144 14.00
7 325 9-00
BULLS
18.... 903 6.40 I 27. .v. 815 6.50
1 1300 $ 6.00 I
MIXED CATTLE
31 865 $ 6.60 27.... 815 $ 6.50
18 903 6.40 I
HOGS
2.... 380 $16.50 23.... 143 $18. 60
6 130 18.50 5.... 182 18.50
54 180 18.50 16.... 238 16.50
1.... 160 16.50 10 i, 262 16.25
28 208 18.25 l ". . .'. . 1 81 18 50
12 135 45.00 12... 1,-184 18.50
9 207 18.50
i : 1
SHORT-TERM NOTES
Quotations
furnished by Clark, Kendall &
Co..- Ins..
Security-
Am. Cot'n Oil 6sJ . .
Am. T. ic T. 6s. .,. .
Am. T. ec T. 6s..;. .
Am. Thread 6s . .1. .
Am. Tob. 7s . . . . .
Am. Tob. 7s
Am. Tob. 7s
Am. Tob. 7
Anglo Am. Oil 7 s.
Armour Conv. 7s.. .
Belgian Gov. 7 a .
Belgian Gov. 6s. .1. .
Belgian Gov. 6s..'..
BethlSm Steel 7sJ. .
Bethl m Steel 7s.. .
Maturity.
Bid. Asked.
89 90
94 94
92 02
93 95
99 100
99 100
99 99
99 89
08 99
95 96
98 98
97. 08
92 92
97 97
98 98
95 96
90 90
97 97
90 91
97 98
86 67
71- 74
92 92
97 97
99
98 99
97 98
96 98
96 08
99 100
94 98
97 97
94 98
9. 2,1924
. lo
1.1922
1.1924
1,1928
1,1920
1.1921
1.1922
1.1923
1 .1 A2S-.
. 2.
.12.
.11.
.11,
.11.
.11.
. 4.
7.15,1930
8. 1,1943
1, 1.1921
1, 1.1925
1.15,1923
1,15.1923 I
British Gov. 5... 11, 1.1921
British Gov. 5.. .11, 1.1922
v.muiin ijrov. oa.. W. 1.1921
Canadian Gov. 5.. 8. 1,1928
Cudahy Pack'g 7a... 7.15,1923
Inter. B, T. 7s....... 9. 1.1921
Japanese Gov. 4.. 7,10,1925
Kennecott Cop. 7s... 2, 1,1930
use. Alyprs loo. 6s.. 12,
Moline Flow 7a.. i... 9,
1921
1,1920
1.1921
1.1922
1,1922
1.1923
Jloline Flow 7..j... 0
Moline Plow 7a.. i ...
Moline Plow 7.. I...
Moline Plow 7s. . ; , . .
N. Pac. Eqp. Tr. 7..
Pac. Ga Elec. 7. . .
9,
9,
9.
5,15,1922
5, 1.1925
BWHt 6s . . .
8.15,1021
tV S. Rubber 7 .!. . .12,' 11923
Correctetd daily by foreign exchange depart
ment of tbe United States National bank.
opening nominal rate lor bank tranaactio
Draft
r-Ki
Par
Check.
London Pound . .
terling ...$ .60
Transfers.
Vslue.
S.6t
7.11
2.11
5.02
15.20
15.25
20.40
77.75
51.65
1.00
!l0
$ 4.8665
19.30
23.81
19.30
26.79
28.78
26.79
V9.84
i ana crane . r J
Hamburg-Berlin
LTa
Marks . ... . 3
Genoa Lire . . 6.6
Copenhagen
Kroner . . .
Cbristiania
Kroner
Stockholm
Kroner . . .
Hongkong
Currency. . .
15.15
t
15.20
20.35
77.25
Japan Yen. . 51.40
snangruu !
Taels .... a.08
Foreign Exchange Market
New York. Aug. 9. (U. P.) Foreign ex
change opened weak today. Sterling demand was
off 7 cents at $3.60 . An upward trend during
the first half hour followed, however, and at
10:30 teriing waa quoted at $3.61. Franc
demand opened at .0701; lire demand .0501 and
marks demand .0215.
Sterling, after dropping to $3.60, rallied 2 H
cents, off 4 cents net
The market eontimi m-A . i
close, j Sterling closed firm at . a- u. .
4e for the day. Other quotations were:
Franc. demand .0714; lire, demand, .0603;
marks, demand, .0214.
PACIFIC COAST BASK STATEMENT
Portland Bank
Clearings This Week. Tear Ago. -
Monday 6.741.818.34 $ 7,826.426.14
1 - i "'-'--' apefcane Banks
Clearings Monday ...... i ... . 2.082
.116.00
naiance aionnsy 763,302.00
Taooma Banks
Clearing Monday . . $ 692. 765. 00
Balances Monday ! ....... j ... . 123.7S1.0O
... Bawttle Bank -
Clearings, Monday $ 7,609,819.47
Balances, Monday .......... 2.371,913.81
San Frwnchoo Bank -
Clearings. Monday. . . . . $25,400,000.00
tea Angela Banks
Clearings, Monday . . . . .$12,433,814.00
FOREGN EXCHANGE RATES
..'.
OIL SURPLUS WILL
11
BrBroadan Wall
j New York.. "Aug.; 8.-A growing
surplus of petroleum Is the latest
hiarvel to intrude itself on the) Wall
street horizon. Promoteri of little
companies stand aghast as they rea
lize that before many months gaso
line and fuel oil will be selling at
reasonable prices again. ; : x-
; The old established concerns will be
glad to see. the business settle down to
a reasonable basis of profit, but the
promoters mill have difficulty in getting
the public excited over oil stocks whlje
the slump is in progress.' The situation
emphasizes the wisdom of investfng and
speculating only in the stocks of com
panies that are established.
; Wall street still has considerable
mopping up tb do before the oil mess
is cleaned up. ' -
i The oil boom is ended. The Industry
is no longer, a boom but a business. .
European, events of the past week have
drawn public attention to the unfavor
able condition, of American foreign trade.
One after another the exporting com
panies are admitting that they ; are
beaten. The trade balance, once billions
in favor of this country, will be against
the United States before the end of 1920.
Tbe high prices In this country make it
impossible to export to advantage even
if the foreigners had the credit with
which to pay, - -
The high prices here are attracting
from all parts 'of the world products
that are needed at the places of origin
but which are being sold to the people of
the United States in constantly Increas
ing volume.
Hopeful Interviews :
Cheer Money Market
Two important officials of the federal
reserve -system came lout with optimistic
statements about the money situation,
and stock market sentiment reflected
these hopeful interviews. Governor
Harding of the reserve board said that
"so far as money and credit, for moving
the crops is concerned! it is only fair to
say that the country has never been in
so good 'a position as it is now. Gov
ernor Miller of the Kansas City reserve
bank predicted that before the end of
the year the Kansas district would be
a lender instead of a borrower. Both
these , views seem to expect a - pretty
rapid clearing up of the freight conges
tion on the railways. While there has
been Improvement, few here venture to
predict that- the freight situation will
soon return to normal.
Greenwood Back
From Neah-Kah-Nie
After a two ' weeks' outing at Neah-
Kah-Nie mountain, Frederick - Green
wood, manager of the Portland branch
of the- federal reserve bank, Is again at
his desk. Charles H, Stewart, acting
manager during Greenwood's absence,
returned to San Francisco Saturday
night to resume his duties as deputy
governor of the federal reserve bank of
that city.
Taken to Hospital
Sandy, Aug. 9. Albert Bell was taken
to the Good' Samaritan hospital because
of an injury received Saturday when
changing the lines on the "donkey" at
the Sandy Lumber company mill near
Brightwood. Bell's knee was injured.
The case may require an operation.
Freeman "Goes South .
. Frank A: Freeman of Freeman, Smith
& Camp company, left for San Fran
cisco Sunday to- visit the company's
branch office in the Bay city. ; Freeman
is not expected- back for, a -week or 10
days. - " . .
FACTS 0. 647 .
A SMALL
PERCENTAGE
Only one-tenth of. the road
mileage, totalling 2,500,000
; miles, is improved. 5o,o6o
miles per year should be im
proved if substantial progress -
is to be made in this form of
development. ' The people of
. the country are aroused, as to
j this necessity and are insist
4 ent that the roads be . paved -
WARRENITE
BITULITHIC
j WARBEX BROTHERS COMPACT
Efficiency
Low Cost
F.W.Baltes
& Company
- Printers
First and Oak Streets
MaiolCS eWtoSII-CS
' Stocks, Beacs, Cttea. Grata, Ete.
tl-$17 Beard of Trade. BaUaUag
Overbeck&CookeCoe
DIRECT PRIVATE WIRES
TO ALL EXCHANGES
1 Mcamberf Cfcleag Bears f Trade -
. i .. . . ,
Correspeaeeata mt lVeraa Bryaa '
Caicag -v IiwTnI - -
BRING
OWKES
War Paper Situation
Improving, Report;
i Holdings Pass Peak
- The year 1919-1920 has seen a material
Dnprovement in the "war paper situation
in various banking institutions, accord
ing to the July bulletin of. the federal
reserve board. . ; 1- 4 - "'-..-
- : - ' ' ' ' "
,.In the federal reserve; system, total
holdings of paper secured !. by govern
ment, war- obligations " have evidently
passed their peak and begun to decline.
The bulletin says in part:.
IThe board's statiKtical irevlew for the
year ended June 30. 1919. showed that
on June 27 of that year the total volume
of paper secured by government war ob
ligations under discount waa $1,573,500,
000. . while at the close of June, 1920
(June 25). the holdings of paper secured
by war obligations, were ; approximately
$296,500,000 less than that; figure. Mem
ber bank reports' to the federal reserve
board show that, taking the returns
from institltutlons in lOOjselected cities,
there- were, on June 20, j919.','loans se
cured by United States bonds, and other
war obligations- amounting -o $1,413,
000.000, while the total of; United States
securities .owned was $3.3 J7, 000. 000. The
corresponding figures for June 18, 1920,
show a' very material decrease in the
total amount of United States securities
owned, "while a . corresvohd'' .g decrease
in the total volume of . loans secured by
government war. obligations id likewise
reported, the respective j figures being
$742,388,000 of paper and $l,!i87.832.000
of securities owned. " j - - .. :
Auto Demand Still
Good, Says Company
When J. P. Morgan j Co. recently
bought into the -General Motors corpora
tion. Wall street wondered that the
bankers should take such a step at a
time when the outlook for the automobile
trade ww .to uncertain. One of the
Morgan grouphas been quoted as saying
that the bankers were i perfectly well
aware of the talk of falling off in de
mand for automobiles, but they insist
that In some parts of the country it is
-still impossible to supply the demand
for machines. , They bejlleve - that the
country is still short-of its requirement
in this line. It is announced that no
effort will be made to expand General
Motors plants at the present time, beyond
completing the new plants' under way.
'!'".--' .' "Its -Range "
;"What a deep voice jyour daughter
hss." ; ; - j
' "Too deep. Since ehe lias been taking
singing lessons it goes down to the very
bottom of my pockeU"
$47,100 Tax Exempt
General Obligation Bonds
PORT of BAY CITY
.') T : Oregon
YIELDING SIX-FIFTY PER CENT
Dated May i, 1919. Due serially 1925-31.
Denominations 4 1000. J 5 00 and $100. Prices to net 6J4
Principal and Semi-Annual Interest Payable in
New York or at Morris Brothers, Inc.
Assessed valuation of the
. The totitl bonder!
ITUATED on Tillamook Bay. a natural har
bor, th port is
- opiner country, vastly rich in potential wealth,
more than 24000,000,000
ber being inc
uded.
Telephone ojr. Telegraph Orders at Our Expense
MORRIS BROTHERS, Inc.
The Premier Municipal Bond Hoae
Between Kstabllalied Qnarter of a t'eatsry
6th and 6th iMorrl Bid;.,
Streets Capital One
-Price 92.86
To Yield 7.75-
Five-Year 6 Gold Bonds
of one of Canada's greatest wheat-producing
regions 1 . ' ; .
j Province of
-MANITOBA-
The assessed-Valuation of Manitoba is
$680,000,000.: Its net bonded debt is
$33,890:870. ;
Orderiby Wire, I'hone, Letter or Call
flillltilllt
I I IlILAiAII SU
lJjadcriapcrvtolovOrogcm.5a
Bonds -Trusts Acceptances
I Lumbermens BIdg.
HALL Sc
Bur and Sett U. S. Government, Forefga Covemroent
' Railroad, Public UUUty, ladustrial. Municipal
Quotations
Lewis BIdg., Portland, Or.
Financier Reports
Good Movement in
Northwestern Bonds
... Issues of Northwest municipal bonds,
carried by Morris Brothers. Inc.. have
attracted heavy aKreKate investments
during the past week. statH John! U.
KUieridge, president.. There lias, he re
ports, been a strong movement in those
securities, noteworthy features of which
are their: present low market quotations
and exceptionally high yields, combined
with absolute safety!. k-
. 'The general belief, prevmline;
throught jthe financial world, that jtlie
present low market and high yielA on
municipal! bonds Is oon to under a
marked 'change and that returns ttj the
Investor " will be leas, is resultiiiK in a
etronir movement In Northwest ntuitU-i-pals,"
said lOtherlriprer - j
"Then, too, there Js the prosperity
feature of Northwest munk-ipitlH. whlih
is vtry attractive. Our: whole -territory
ts a urowiiur one. 'with i-onsiant im
provements beinc . installed with very
larprc increase in vuluw .as a renult.
This all adds to the attractiv.ness; of
thewe investment e-uritios and ha ! its
part in the brisk demand for them."
Pacific Buying Is
Showing Decrease
, . L.I
Kew York, Aup. 0. The Credit Clear
ing Hotise weekly reixrt for the week
ending AueTJHt 6. of mf n hanili.slnR ai liv
ities by wholeKalerw shown a Bltjrht Im
provement by the decrease in the gen
eral 'indebtedness of the country; mer
chandising, however, has not - Improved
in activity as much as Is usually noted
at this season of the year.
In the Pacific coast Section buying
shows a decided decrease in activity
from all three periods of comparison.
Indebtedness shows an increase ttnd
payments are less active.
France May Want
Loan to Pay. Debt
-There seems to be a prowlnc expecta
tion among bankers that Krunce will try
to borrow some money from thla country
to take care of the French portion of
the Anglo-French foan, which matures
October 15. Thus far France has re
mained silent on the means employed
to take up the $250,000,000. which repre
sents her part of the obligation. The
rumor persists that Kngland will he,
called upon to help out her recent ally
in a substantial way.
Port District is $7,374,355.
debt is but $667,000?
surrounded bra fast-devel-
feet of merchantable tim-
Telephone
Broadway
SOS-1 1 Stark St.
Million Dollars
-1 .4
COMPANY
Upon Request
Telephone Broadway 960
r