The Oregon daily journal. (Portland, Or.) 1902-1972, May 21, 1922, Image 32

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The Oregon daily journal., May 21, 1922, Page 32, Image 32

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Newspaper Page Texttli 14 I THE OREGON ' SUNDAY JOURNAL, PORTLAND, SUNDAY MORNING, MAY .21, 1922. EARLIEST CLEANUP EVER KNOWN UN TI IK iPACIFIQ NORTHWEST WHEAT TRADE INDICATED : BY I. CHARTERS jmcropof SECTION CLEANING 1 Biggest Output in the History of v 21 Pacific Northwest Disappear- . " WEEK'S WHEAT BIDS Compiled by Portland Merchants Exchange: Hard Soft White Hard Nor. fed Whit. White. Club. ; Win. Bps. Walla. -.Monday. ..12 . iTuesday .. .139 -4 Wednesday. . ISO .Thursday . .128 ''Friday . . , ,i -'J Saturday ..125 TWee ago... 128 TTear ago. . .139 128 130 128 12 128 128 128 128 136 12ft 126 128 No Session 125 125 125 126 12 128 129 138 133 128 ISO 130 128 a 24 1 ' 0.24 125 128 134 The Pacific Northwest will within a weeks be entirely cleaned bp of its 1921 wheat crop that is. everything that is available 121 124 1130 few for -w the market will be purchased and oa its way , Aa JMirope. J Many month aun in fact. eTen as early ilea august. 1921 The Journal forecast that . 1 record demand for wheat would be shown from ,1 Kurope and thaLv despite the reeord -breaking ifcrope of this territory, every bushel would be -1 needed sad will be shinned, if offered. I Then' the word was generally passed by in- - Itsrests oooosed to advanctna nrices that the (crops of other countries were so heavy that this l country could not possibly clean up. A The Journal's forecast, has been absolutely . confirmed ..regarding the extent of the demand iter Pacific Northwest wheat, as well as its pre- aieuon last July that the crop would' , resell aou.ouo.ooo bushels or more in the three states. - This week confirmed In full these forecasts, for It showed Quite clearly that Europe was'se eretly purchasing wheat in liberal volume .in this territory and the facts were being kepta cret by the sellers. That is, the matter was a secret until nubiication of the facta were aitem PI by The Journal. - ah .larav u uuw i u urminn. x. , cry uusnei is wanted, ttoniers wno are tiling to accept cur rent values or even a fractional advaaoo over them are able to. clean tin Not only1 is there demand at this tune for the 1921 crop, but latest developments Indicate some contracting of the 1922 'crop of wheat at 31 per bushel for while club basis. Umatilla county. Oregon, and Lf . t j. . . ..t. wit iilj, i.uumBbuu. . nome con . trading is likewise reported in Franklin county. r. Washington. Advancing prices continue to be Quoted for milhttuffa because of the extreme scarcity of supplies. Europe wants wheat badly and is witling to pay the price, but it takes Hour only f"n aoie w secure it ix pelow the relative j tTaiue. I iKp WHEAT Cash buying price, tidewater, track delivery: Club, $1.28: Bluestem. $1.45 1.50; i tBia? Bend Binestem. 31 7(1- Tnrk.. TtH t 1(1.32: Bed Russian, 31.25 per bushel. I i - FLOUR Seliins Dries, mill door: Patent. -ft 18.60; Willamette valley brands. 38.65: local straiaht; $6.90; bakers' hard wheat. $8.10; kbakers' bluestem. $8.00: bskers' nastr. SS.50 per bbt; graham. 38.90; whole wheat. 37.30; t 1 Moo tana spnng wheat, patent. 39.00 per bbL. r Price for city delivery. 16e extra: suburban. 20e I taxtr. f I HAT Buying price: Willamette timothy, t (fancy, $18 00 per ton; Eastern Oregon timothy, it 1319.00 per ton; clover. 314.00; straw. $9.00; ; .alfalfa. $19.00: oat-vetch, $17.00 per ton. I GRAIN SACKS Nominal No. 1. Calcutta, I 't 8!4e lor new crop delivery. Domestio bags. ?l e each. I lilLLSTTTTFS Mill run at mill, sacked, ton i ts, 3S5.0036.O0; carloads, $35.00 36.00; , middlings. 349.0050.00 per ton. j 1 OATS Per ton. baying pries: Feed, $34.50; i nulling, $35. K BARLEI Buying price: Feed. $28; brewing, f 328.0. I-- FEEDSTUFFS F. O. W wilTrs: Untied barley. j$3637! whole parley. $34(3 35; alfalfa meal. $37 0 38: wWn earn. 335 0 36 a ton. -Merchants Exchange bids: ,. ' WHEAT May. Wool Prices Continue to Rise; Willamette ViaUey ' Is Only Inactive Spot in West . Br Hrmaa h. Cohen wool prices continue to reflect advances. The activity is now most marked! in th Southwest after a period of quiet there. Actual business la fine wools! is shown there during the week at 45c a pound ; a price so sensationally hlsrh as to yrmf v create wonder in the trade aa to what the actual- shortage of , .- wooi in me marxeu totals. r - ? f V 4 "V J' ? Here and there is activity in the Pacific Northwest Wbol i market; the only reason for a lack of runaway market beinr -f the lack of sofficient supplies. - Practically all of the better 3 elate wools of the Pacific Northwest hkve Wn rrtirchjiapfi hv mili interests and speculators; the latter standing a very Isoty cnance to casn in at a uoerai prone r : j Talley Wools Are Qslet 1 :i ! A f, Only In the Willamette valley, of all the sections of he w eat, nas mere oeen a tacK or acuvrry in trie wool traae this .season. This condition appears out of line in view I of the fact that a tremendous demand has been shown for wools at practically every other point in the United States and that prices have responded to this condition, i The-fact remains that very little of the Willamette valley 1922 clip has been sold and many sheepmen have come tobelieve that much of the talk of extreme wool demand is mora or less bunk. i It is not any lack of demand that is keeping down the movement of Willamette valley wools this season, j It is th raet tnat owlnar to- trie smallness or individual offerinm nmrl the fact that holders are demanding full prices, that the expense of marketing these fleeces has made it almost impossible to do business. s ?, H 'T wool ituyers scounnir vv arid i, ; i i , ' : Wool buyers are scourine the world for sunnlien of flew' Tn nnr uvilmt the demand is keen and extreme values are available for lots of quantity that make a movement profitable. Pooling .of Willamette valley wools therefore appears the onlv solution to the nroblem nf -srettiner x n adnmist tti- tV- fluu.x JXhe present cost of getting the clips to market is too high and this must of course De cnargea against tne seller. By pooling their fleeces, woolmen of the Willamette valley would find buyers flocking to their plafces and higher prite$ available. , , I ' i : TTT Sheep Indnstry Coming Bark I I U "The strength of the wool market in Idaho durlnar th nast months h hrorji-hr the wool and sheeD industry almost back to normal uraifi " rferlnrpw Hmjlw Coon, wool and sheeD ooerator associated with the First 'National hank nf Rniul who has been in Portland a few days this week, receiving j and weighing out the million and a quarterpounds of wool Just purchased at Boise by J. W. Creathlof tne romana wool wsrenouse company, xne wool Just , sold to the Portlan- wan oruugnt arouna iJ cents. i i Mr, Coon declared that the activity in the wool market ! has uniwil n. decMp spurt among sheep growers and that those well informed on the situation ar "Bsii; in uip Biieep lanusiry in taano quite extensively, i ; j The wool clins sold to Creath will oracticallv all he retainer! in nrn KiU sent to The Dalles scouring plant and then worked up at the .several woofei uuiia in una viuiiLjr into wool yrouuets. r MONEY RATES BIG: TRADING FACTORS Fail of Time Loans Forces Lib eral Gains; Stocks Lead Bonds the Newer Movement. in B Stuart P. Special Correspondent of The Journal! -Tpm'ht, laa. by The Journal. New York! Mav 20. The new drivinv which the markets a wJf ago bed seemed to He awaanng waa iuum una wees in the further Iforee Walnut Industry of China ' , Described in U. S. Report ! Hani white i Iftoft white 1 iWhita club TiTIard winter y Northern spring Bed Walls .... '-.No. 2 white . f ISo, 2 gray- . . . . ? No bids.- ''Wo. 2 Eastern . sll $ 1.25 1.25 . . . . 1.25 . ... 1.25 .... 1.25 . .. . 1.21 FEED OATS . . .. 37.00 . . . . 86.50 BARLEY CORX . ... 29.00 June. $ 1.25 1.23 1.25 1.25 1.25 1.21 87.00 ,36.50 'July. $ 1.14 1.10 37.50 1 i t 29.00 29.00 .- : AMEBlCAX LIVESTOCK PHICES Chicago. May 20. Livestock trade was of lit tle account today. The usual light Saturday sunnl arrived snd it was nicked nn without 9 any marked change in Quotations. . Cattle and , bogs held well during the present week, but K lvalues closed lower for all kinds of live muttons. 1 Keceipts today were estimated at 500 cattle. S000 hoax 8500 sheep and 2O0 carves. - ( Cattle Of the estimated. ftUO cattie for "the P;lwl yards about 60 were received by big packers, leaving utile in tne open market. Bmall lots sold at unchanged levels, but nothing prime arrived.- Compared with week ago best steer ? 'were strong to Vac higher, while cows and heifers f were up U5e in some spots. The' week's top eacue went ax :a.23. vanaers ana Dolls dosed t.weasv wnue calves aoowed a small gain over a I week ago. .j Hogs Light hogs sold wefl today. Prices ...were steady to strong compared with the dsy 2 ; before, with choice lots st 10 i)0 11.00. Hogs 1 (weighiBg 240 to 3O0 ponnda sold strong, some t vol the best going ap to 10.75- 10.80. Rojh I pecking grades were folly steady at $9,15 9 J ; 9.60, with good lots at $10.00. A week ago ,WMJP VW UU WW h flVV, r I flhafri fl mriH, Unh. mlA via RA today and the trade wag called steady. Com pared wita a wees ago. However, lambs mostly 7Se to $1 lower, while aged muttons ano were oil i oc pome snorn lambs at $13.00 Chloaoo Host $11.00 Chicago. May , 20. (L SJ 8.1 Hosa Tta- or-iptA, 8000, itcadj to ttrosg. Balk, 110.50 eeiu.sa; tons, jn.uu; heavywekrht, 310.759 10.90; medium weight, 810.85 1 10.95; light weight, $10 9511.00; light lights, $10.25 1O.00 : beavv nackiiie wl immtii soon a 10.00: packing sows, rough. $8.40 0 9.65; pigs. CatUe Receipta, 500. - Sheep Beceinte, 3500. P DHitw Hfra KDAII Uenver, May 20. (D. P. Cattto SOO- I market steady. Steem. ITSSanM. mA -l-etfers. $5.50 97 90; stoekers and feeders, $6 oaivsa. tawiLBU. HOgs: Kecemta 260. Market 1(We V!i Tops. $10.40; bulks, 310.05 10.33. soeeD none Market nnchassML. Tanta lis ia ewes, lino: nu lambs. iii.soa 13.50. We Seattle Hoe ssnrka Seattle. May 20. No livestock Twaernta r. I iwicu tsaay. Kansas City Hoot $10.78 pvauue: Keceiota. nao: arrtvaia t lata t , m SBarsex. - Hoes Receipts, 1OO0: active. Bulk of sales. - fil.W910.ls; Dp, SIO.IJ. - Sheep Eervipts. 250; light mgMi Hrjv 1 0.S0 8onth .Omaha.' Ma 30 RnnM. , v- - i wv, munt kow ana saosuy toe nigber, itwnlk. $10.30 10.60: toPL.SlO.SO. gV Cattle $eoaipa. 75; market compared with imam,.-i.vm99; lower; bulls. 25c lower: veals. f50ctiheri stackers ana feeders. 25940a m I . Sheep BeosiDts, BOO: market oompared with u jweck ago., lambs, 31.00 1.50 lower; sheep jand yearlings. T 5c 9 3 1.00 lower; feeders. 50 6) 7e lower. , - San rrwncce Heaa 31 ' f Saa rrancisco. May 20. Cattle Irass fed 'steers No. X. 7 y 7 e: second quality. 64 0 i c; eows and heifers. S 6 ; calsea. light. f a?9c: oalvea, heavy, 67c " Sheep Lambs, 1010ec; wethers. t T1e: ewes. 4nSWc ' " Hor Hard grain, wgt. 100-175. 12e; over ... . 300, lOo. : -" "i ' '! ' - Kw Terk Batter and Eggs - t, 26-I. N. S.) Butter- "Market unsettled and weak. Creamery. Ss) ' 6 4 c; tirsta. 34 S5 e; nigber scoring. 37 S -T 3 7 H;' stain dairy, tuba. 30 36c; renovated. Lextrss. 28 vie; ladels, fraah extras. J7o. - r Cheese Market firm. I State, flats, old onaMtv . ,. 24ci whole nuJk. fancy. 17 18 Ha .... ,Wiseoasia. lower grades, 14 16c State. ,8X1171, specials. 13 4 14 He. t - Kggs Market, weak and tmsettJsd. Nearby ''white, fancy. 38e; brown. S1031Me: extra. ?. MQk The aommal wholesale wiee fa 'tlT .per ICO ponnds, delivered an New Tork. Official quotstinns dsicontinned. , - -,- .. - j t . itfi-, e : 81 1 - f - , CWearo 3alry Prodieo L CbJcaso. May 20. (t N. &) Buttei Ka- cerrita, 14159 tabs. Creamerr, extra, 34c; staadV : AK 34e: fusts. 88 He; paekiag stork. lala. Kgxe Baeeapta. $3,14$ eases. Miaeellaneoaa. ;SliSc: ordinary firsts. 22922ae3 firsts. 4r24Hc: extra. ItUe: ebecka. 20sSaae: .checka, 20 20 He; dirties. 21HriHe. CheewHaJTwins. . Dew, 19H 0 lTr; dahie. ; llTe: Toont i Americas, IX 17 lie; Jjainrwnnn, af lev, vcica, ItTIK . t . uve foultry, -tarkeys. - 2ie; chickens. 25a, I May ' npring brojrra. 40 tfSc; roosters. 14 is c; geeae, 1 July 1430oi ducks. 5235. t T gi. In view of the erowine walnut intnatrv kr Oreffnn. i aa wll . . f 1l T.in v wv. generalli. the industrv of tha Orient ia of n- culiar interest at this time. The followins article Was prepared by the Far-Eastern di vision of the bureau of foreign trade and commerce: The walnut found, in China, according ij me euiwr ui finance ana uommerce, is the Juglans, a botanical genus Of some 10 species, and is the same as that found generally in temperate regions of the northern hemisphere. The species best known in China is the Juglans regia, which has a wide-growing area extending from Greece to the Himalaya and on fjbrough Asia into extreme Northern China. These trees, growing in many parts of China, bid fair to be come of increasing commercal import ance, except where transportation is still primitive and the natives have not yet realized the value of the nuts, thus preventing them from entering into the commerce of the country. Walnuts are not systematically culti vated, the trees being planted generally to furnish shade, and no attempt seems to have been made to' improve the stock by grafting or other methods. However, in many parts of the country farmers may be found who have from 25 to 100 trees. Where the JTuts Are Grown The principal provinces from which walnuts are obtained in China are Chihll, Shantung, Shansi and Honan. In Chlhli the centers of the trade are ths Changpingchow district some SO miles north of Peking, and the Lanqhow and Changli districts on the Pekirig Mukden railway. The nuts from these districts rank as the best ' and are shipped abroad from Tientsin. In Shan- : tung walnuts grow wild for the most part, little or no effort being made to cultivate them. The best nuts come from the southern districts, but they do not run even, a large proportion of bad being mixed with those of better qual- ity, thus compelling the buyer to exer cise great care in his selection and in spection. In the , other northern prov-i tnees the walnuts grow wild quite gen- i erally. ' They are cultivated somewhat: systematically In a few districts. Ken- nuts of good Quality. Hunan aJnd cizecnwan lead among the central and mcsLern provinces, with Hankow as the. principal port for handling. These nu!ts, which are of good grade, are ! exported mostly as kernels. ' ' j T Production, Collection and Shipment i An American fijrm exporting walrls from the ports Of Tientsin has esTtU tnated the production of four provinctei of North China.'aa follows: ChihlL 2000 tons; Shansi. 3000 tons; Honan, 3200 tons, and Shantung, 600 tons. ThJs figures, however,; are in some case merely guesses based on information e ceived from dealers. No estimates hive been found 'for the other walnut-grow ing sections of China. The same au4 thority states that he is not aware of any walnuts, being! grown in Manchuria It seems that the terrri i "Manchurilai walnuts' is a mishomer used lareelv lit connection with those shipped into the United States from Tientsin. j In these Chinese trade there' are thtei well-known varieties, the double-shelled medium hard-shelled, and paper-shelled The double-shelled variety- Is the lowest in price. The medium hard-shelled lis produced In largest quantities, while the paper-shelled is not extensively culti vated. 1 i ; As with most of the commodities ex ported from Chinaj the producers of wtH nuts receive but little of the profits. KjAt the beginning of the harvest- season, th local dealer contracts with the farmer for the crop, and later sends it to Thjn tsin, Hankow, and other ports,; whe ev extraordinary decline money raeea. j wail street loans for fixed periods, as disting- nisneq irota aemand or call loans, can now be negotiated under per cent for the time sinoa the summer of 1917, Ho far the main re sponses to those changes in money has occurred in speculative stock ket. Investment cunties, after lying el most stationary for a month. have " moved ahead somewhat, j but mng almost stationary rates the mar- lot a month the gain has slight. Ordinarily mifsnt oe expected have been it that 3 at decline jin the interest rate from 4 to T .cent i woma bring a corresponding upward revision in bond values. This has not happened as yet. perhaps because the investment commun ity has not digested the huge load of new capital woes thrust upon it during the last 12 months, failure to respond also may indicate some doubt as to whether the lower money range fc to continue. ; , j Debt Payments Offset Trad Demand ! Eventually if trade recovery keeps on there Will be a: diversion of funds fmm fi.n;.i ,r. commercial channels sufficient to make itself fair lr mnnv m,. . . . . i F . - - "-- uui m. preKei we ln- crrased trade demands are being offset by the .;iiuran oi toe tia, so-caiJed rrosen loans in the acncultnral sectiona. All this is clearly shown in the detailed federal reoerve statements. In the more representative manufacturing i aeo bons rediscount are on the increase aa a rale. In the great vrhest and eotton-raiidn urfnu NEW YORK BOND Reported by the Journal's Wan gtrevt Bnrna Wall Street, Stw Tork, Slay aiost of the adTasce la the bosd market oe e n.rred ajBong ' speealatito : ls$aes like the low priced rails. The Eriei, St XoaI$ A Saa Francisco bonds, SUFaala, Sew Tork, Westchester & Boston 4frs, and the lnterboroaeh refanding '5s rose a fractioB. ef a. point to av point. uaesepeake tlnlo eeavertioie s reached a new high for the year, and other convertible railway istaes were strong. Araeriraa SmeltlBg U. 8. Kabber 7 Via and TJtah Fewer s X.ight is were bid n it their highest for 1339, and Sinclair Oil convertible 5s Jnmped a point as sinehur ttoek made a new high on dividend reports, . - :-i United States gevernmeat seenritles were firm and: the foreign government loans In - tne ! mala kept steady. : Cbue 8s of 1936 made a new high and Sweden s gained a point. The Sew Tork market for Canadian provincial bends was essentially ; changed this week. Prices contlnoed to bold is bat trading was dnlL On tario 6s of 1933 were 100 Mi bid, offered at 106; , the 6s of 1330 were 160 bid. offered at 161 Vi, and the 6s of 1943 were 1674 bid, offered at 188. -Manitoba 6s of 1823 were S bid, offered at 68 j the 6s of 19J0, were 100 bid, offered at; 101 V, and the 6s of 1946 were 104V bid, offered at 167. New Tork. Msy 20. Following is sa officisl list of all bonds traded in on the New Tork Stock Exchange today with prices up to and in cluding the close of the market. Total sales today were $9.062,000. ! against 318.9oa.0OO yester day, S9.S50.000 a week ago, $4,512,000 a year ago and siu.soz.ouo two years, ago. From January 1 to date, i $1,907,494,000 against $1,128,778,000 a year ago. and $1,532.- lBS.uuu two yean ago. LIBEKTT BONDS (In 31000) Sales Mature I High. Low. Close. uii nw in sotpie pncee has put farmers in a comfortable position aain i ccunts are nomine down and reserve ratios the Tudis- Danger of Exoesshre Advances cue and the this will us- wholesale dealers The shipping September, with coming in about the hard-shelled take it over. season commences! i the soft-shelled nil la month' earlier than varieties. In North China most of . the nuts , are, sent i tp Tientsin and are exported either in the shell or shelled. The shelled are knoWi as wet-cracked ' or ! j dry-cracked. Xri the former case they larei dipped in iot water before being cracked, a method generally adopted in the interior and one that has proved i quite objectionable! Foreign exporters prefer itd arrange for cracking to be done In the: cities? where dry cracking is generally . adopted ajnd chow-fu in Shansi province producing can be properly supervised; Most Woolen Goods Said to Be Nothing But Shoddy Stoc J. Walter Bliss of the John T. Slack peny, shoddy manufacturers of Springfield. Vu, is quoted in the press as stating in a lecture de livered by him to the Lowell Textile school of Loweu, Mass., that only one-fifth enough virgin wool is grown in the world to clothe the peo ple in cold climates and, according to Mr. Bliss, the other four-fifths has to be made of re-worked wool. He is also quoted aa atating that, according to experiments made by the bureau of standards in Washington, shoddy is reworked as many aa six and seven tunes. Charles IX Haskins, secretary of the National Association of Waste Material dealers, in s state ment published in 1919. estimated that all the virgin wool in the world would only allow 1 4 crimes a year to every person living outside the tiopics, - Mr. Cherir.Kton, secretary of tha National As sociation of Wool manufacturers, estimated that tLere was only enough virgin wool grown' to supply a pair of knee breeches apieoe to the peo ple living m the colder dimatwi. William C. Red field, whik secretary of the department of commerce of the United Statas government in 1610, stated that the world's an nus! production of virgin wool was only ap proximately one-third enough to make the an nual nroaucuoa of wool ctotn. ana. tnat , the deficiency must be supplied by shoddy. J. B. Wilson, vice president and secretary of the national vhepp and wool bureau ef America, vrten ssked for his comment on these estimates o the amount of shoddy ned said that "there bad been a very marked d crease in the number of sheep in the world during the last half dect ads and that this might explain Mr. Bliss' esti mate that four-fifths of tha wool used in woofc M is shoddy, aa compared with the estimate of two-thirds of Mr. Bedfield tn 1919. ; H 1 ! t When stsked why there was sock! ai discitepi eacy between these estimates of the amount of shoddy used, and tha census figures frequently quoted on the subject, Mr. Wilson explained that the census figures do not: give the amount of shoddy used, bat only give the : amsunlj of shoddy reported. 1 ,! t I "Many of the larger . fabric manufacturers not classed aa shoddy manufacturers make their own shoddy, and many fabric manufacturers vho rise shoddy do not want St known. Ttda,T acid Mr. Wilson, "explains why the amount! of shoddy actually used is so greatly in excess of the amount ever reported in government yr other census figures, but.' said Mr. ' Wilson, tbe serih cms part is not so mucn tne amount, ox aboddy nsea as the tact tnat son or ttusf shoddy; sold as shoddy, but is all sold as virgin wool under the names of wooV 'all wool' and pure vooL It was to eurrect this slsrming condition b, preventing the ootmterf ertinc ef viraia wool ty snoOdy tnat ute japperiTenca "irum Fabric bilT was rntrednoed In censrass.'! i Canned Milk Demand Quite Extensive in East Prussia By Shrord C Rett Catted States Tie Consul. Konigsberg, Germany. On aeeonnt of the TWasunt ecarcitv of fresh milk, there is a areal demand for condensed milk at Konigsberg, East. Prussia. Only children less man 2 years of age are allowed iresn aunt, ana even then a physician's cerwicate is accessary. Great cuantities of fresh milk is to be had in the ratal districts, bat practically noon is sent to tha Kast Prussian cities, aa buyers frnea tha western cities offer anch high prices that they are able to obtain all available supptiea. - ijocal nealers nave purcoaam r nnnensen snrnt from Hamburg and tAbeck importers up te the present tune, bat tney now wish to get in direct communication with the American exportera, , , i no danger m the! stock market situation is jost wha it was a month before ths rather saarp check i which osme at the close of April and tha betjinninr of May. It is the danger .ii apeuiauve operations will take their from, the ' sound an oa of the credit i snorjlv the low cost of money, rather than from: acmiu mot i me txiiness ntnatioa. If oeurs a prioe level will be reached which not Be warrsntsa by earnings and dividends. ciniH I oe ; more uian temporarily tained. i : I Meroers Cannot Inontase Values I Ths tendincy to sneculativo excess hi course, been prompted by the various merger deals which! have been put through or are known to! be under way. These combinations, no matter what an excited Wall street imag ination may picture, cannot add heavily to in trinsic vaiuas ovemUjht. The economic effect wtL take long to show. la the end they i will reduoe producing costs but they cannot alter the fact that whether it is steel or copper, or any oCTerj of the leading industries, this lis s tone when moderate prices and moderate profits j Tnarfe News Improves . ) The trad news has been the best of wjpek so nr!in 1922. Along with the ruturn ef cotton : prices to the highest of last autumn has come , the long delayed improvement in the copper metal. April broke all ntmrri in th building trade. In the 27 northern and eastern states the total building contracts awarded was $353,000,000 aa against the previous high of $317,700,000 in July, 1919. Thrt huge ex pansion in construction enterprises and the ! rail way buying eonseauent upon the ability of the railroads to i again put' through new financing art, the two) principal sources from which i new orders have a poured into the steel mill But tb6 foreign business has also played a part.! Ex ports of iron and steel from the United States during March , were 30 per cent greater than in January and 55 per cent greater than in a cbruary. : i , i ! Germany's Action Awaited - ! The failure of the Genoa economic confer ence has had little effect even in the foreign markets, nor can this be attributed to anyi real hope that; the new gathering summoned at I The Hague in( June will : meet with more suOoess. Rather, , it demonstrates that financial opinion discounting heavily the play of the politicians, never looked ; very seriously for the conference t produce I important results. The wavering tendency of French 'exchange is not due to the Genoa break-up ' but rather to increasing anxiety as May 31 draws near, the day when Uermany will: reply te tha reparations demands, j British Finances Improve i I The strength of sterling reflects' the three Ml i accomplishments of the last year in British finance the balancing ot the budget sufficient ly to allow the beginning of tax reductions the steady, and in the (aggregate, very important reduction in : the outstanding paper currency, and the restoration of an equality between! the aeou and credit items in the American trader The decrease in British exports and imports shown in Alril as oomoared with the xtnsviana month was hardly important, because tha export loss was a uo very largely to the temporary eilect ot th lockout : in the engineering trades, while tha important otsnpexison was mads with the March total that had been swollen. j. j WHOLESALE F SICE 8 US POKTLABD These are' the prices ' retailers pay whoiesalexa, except as otherwise nqted: BUTTEK- Selling price, box lots: Creamery prices Prints, extra, Boo for plain wrappers; cubes, extras, 83Vstl35e lb.; dairy, buying price, 2223e In. j t :; BCTTKltr AT Portland delivery basis: No. 1 krradn. 40c; No. 2. 37e; Sa 1 sons. 37 638 fox Mo. 1 grade, press mm being paid by aoi I CBSE -Selling i Tillamook triplets, 24 H A25e; Toung Americas, 2 tic; Oregon triplets, 19 fg 21c. I Fries to jobbers I. o. b. atuamook: Triplets, 23c; Young Americas. 24c Selling price: Hlock Swiss; fancy, 31 3-ic: lumhorger, atlc: cream brick. 22 t 24e lb. : : EGGS Bujring pries. Front street: Current receipts, 1.9c j per dos. ; current receipts, hen- nrnea. zao. t neilinsj imcv; wunmb neemu. henneries, 260 per dos.; select, 26o per des,; pullets. 22 0Z3C doa i - LfV E FOCLTR Y Selling prioe. Heavy hens. 2324e a lb.; light: sens, zoo a in.; D rollers, 28a7e; old roosters; 12c; turkeys, dressed, 36 38a lb. ; live, zasysve in.: aucas. young, M 40a lb. ; geese, hve, !20e lb. ; dressed, 25a lb. Fresh Fruits and Vegetables FKESH FKUITS Uranges. 7.25 8.25 box, banana. D M. s 10e lb; : lemons. $8.00 8.50 out; grapefruit. Florida. 3tt.00ts19.OO. Califor nia, $4,25 9 4. 7. ' ' ! i ISKKKiBS Strawberries. Florin. $S.OO 3.2S I DRIKI FtttUTS -4 Dates. Tromedaryr $7.00; figs, white. 33.50 3.7 5 per 2 5 -la. box; prunes. 40s and eva, :SV-iD. nca, ass m. ; wvs anu ous. 13a lb. ; ! , ONIONS -w Be ling price to retail em: Local, $10.00 11.00; Crystal Wax, 63.00 a crate: garlic 6 0 B Jb.i green, onions. aaue Inivlua i 4 FO'i'ATOES Selllnei pries) to retailers: Ore gon, fancy. $1.60 1.75 per ett; baying price, eruntry, 75c$1.00; sweet potatoes, 2 0 5s; new potatoes: i 8 Sc! ; VKHK1A KL.K1S Beets. $1.10 doaen bnnchea: cabbage. 4 He per lb.; lettuce. $2.60 3.00 per craxe; camjaa.- fi. : wwu, umwwiw, Mexiran. $4.00(5.50 per lag: hone radish. 15e per lb.; exticnosea. si.SBfsi.sa per doaen; eaulifiower. $1.600 2.75 a crate; eslery. $3.50 Liberty 8 tia, 1932-'47 . . liberty 3 Hs reg., '82-'47 . Liberty 1st 4 "4 a. '32-47. liberty 2nd. 4 s. "27-42 Uberty 3rd 4 Hi. '28. . . . iJbertr 3rd 4 lis. reg. "28 Liberty 4th- 4 lis. '33 . . . . do c. liberty 4th 4 9s reg. '38 . Victory 4 4s. '22-'23 .... Victory 4 lis. reg., "22-,23. Victory 3s, '22-'23 9970 9950 9994 9972 9998 9984! 9994! 99801 9964 9950 9982 9966 9994 9984 9990 9980i 99781 9978 10080 10064 106 ; FOREIGN BONDS Argentine Gov 5s. 45... I 86 do 7s. 27 . . . 1064 Sing Belgium 7s, 45 . .108' do 8s. rets. 41 107 Chinese Gvt Kys 5s, 51 . . 54 Vt City Berne 8s. 45... 113 H 'Oily Bordeaux Ss. 34 ... H7 44 City Copenhagen 5 s, 44.1 93 iCity Lyons 6s, 34 8714 City MarseUlea 6s. 34 . . . 87 4 City Bio De Janeiro 8s, 46 103 S. do 8s, 47 . . 103 H City Ssn Paulo 8s w i. 45 104 !4 City Tokio 5s, 52 7154 Dept. Seine 7s, tm ctfs, 42 64 lianish Mun 8s. A. 46 111 do 8s, B, 46 110 is Dom Can 5vs, notes. 29 100 ! do 6s, 52 100 I' do 5s, 26 98 H do 5s. 31 , 0836 Crotch E. Indies rets. 6s, 47 93 do rets Hi. 62 . . 96 H ;French Gvt 8s, 4 5 ..... 1043 do 7s. 41 102, i Imp Jspsn 2d 4Hs, 25. . . 90 Vi i do sterling losn 4s .3 .. 1 77 Banc Denmark 8s, 45 111 : do ctfs 6s, 42 09! King Italy 6 Ha. ser A. 25 86 King Neth'ds. rets 6s, 72. 97 H King Sweden 6s. 39.... 102 Sep Chile 8s, 26 ... 103 H uo os, li iua ; do 8s. ctfs, 46 105 Ben Cuba 5s. 04 90 R. of C 8s ctfs '61 .... 08 Btato of Queened. 7a '41. Ill j do 6s ctfs '47 102 Swiss Gov. 8s "45... 1174 8. of It. G. de Sul 8s '46. 102 H S. of S P 8s '86. 104 . TJ.K. of G.B. ft L 5 Hi '22 108 i do 5Hs '29. . , 108 : do 6s '37 102 H V. ;S. of Braril 8s '41.. 103 C. S. of Mexico 5s '45... 67 Hi ao large os -34 I tJ4 10074 10064 100 86 100 54 108 1084 54 . 113H 87 93 87 i 87 103 102 104 71 94 111 110 100 100 99 98 95 96 103 101 89 34 77 110 98 86 97 101 94 103 105 105 90 98 U 1104" 102 117 102 103 108 1084 102 104 67 63 9970 9950 9986 9972 9998 9984 9990 9980 9978 10080 1Q064 100 86 100 108 107 54 113 87 93 87 87 1034 102 104 17 94 111 110 100 100 99 98 96 96 104 101 89 77 110 99 86 97 101 103 105 105 90 984 111 102 117 102 103 108 108 102 105 7 tts i RAILWAY AND MISCELLANEOUS BONDS POTATOES ; A105Q 5 i TUTS COAST Saa Fiaoi iatti Slav 30. III. P.I Per ewt. Whita Glnbea. 11 s 1 1(1. PoUXces Rivers tancy, $ 1.60 2.00: Bur bankv nominal; netted gerns, $1.75 92.00. J - SeatUa. Mae 20. O m ralifiMiiia 'fit Potatoes Takima fKat, $35.00 $20,00 25.00 ton. local. KUneapolls Wheat OpUoss n Minneapolis, May 20. Wheat: - . 1 " , Open. High. Low. : Close. ' J52! 15e 3.1 ...,141 : 142 140 140 ! ..... 120 Danish ecedansad xeHk ai lusters art making strenuous efforts to au ills this trade, but the eortsnmen perfer the American brands, ' as tne milk is richer than tlx, Datuan.. By sending the fnwUl milk tfrmt nMUlki Im ' Kb Mulrtil it Germany, where labor to cheeper, Danish prodnfef rs are able to reduce the price of their product. Retail prices of condensed milk at .Konigsberg oa March 1, 1922. wow as follows (the ratal of exchange being 230 marks to the doBar : Amer ican, unsweetened, 11 cents per tin 1 pound) t American, -sweetened, 8 eentn per' tin til) ounces) ; Danish, ivmsweetateed, 1 1 casta per tm (1 pound); Danish, sweetened.! B eents per tin (12 onnoea); Swisa. nneweetened. 7 cents per tin (13 onnoss). and . ttilM,:. gwastatssd, 8 cento per tut (12 ounces). r j-i-ffJ :ii. 1 J .!: tU 1 ; 11 ;.: .; ; n coast DATRT PBODTrCx? 1 OT I IT1CX 1 it ! Seattle. May 20. Eggs elset tmach. 2te: Pellets, 21 1 22c . , 1 Bottar City creamery, 18c 5 bticka. 89a. I ! - Cheese Oregon triplets. 20e; l'oant AnuoK ieas, 25c :. . v.. -i-, M-iftir .h..;Hi Tw Aneelea, May 20. Butter, $7 e. ' I I Fggs Sitrsa, 27e; case, count. 24 ; pnOsts, ai .. u,., , .- , 1 1 , ,.. 1 PouJtry--Hens, ' 20c; broOers, . 24 See fryers, 20c : - KW Tert Petal Harket ' Sew Tork. May 26. L N. S.) Pntao fin bank, barrel or bag) -Market stead; Nearby wanav x- ga-i: sanwnni g o.atf. per doa. ; rhoharb, l4o per lb.; spinach, local, $1.25 per box; asparagus, local, $1.75 a LBS doaen bunches. i - j APFLKd -Extra fancy, 4-tier. $8.25; fancy. 4-tier, $2.75 3.00; choice, 4-tier. $2.50. I APPlJ-uokuig stock, 75c$l.l a box. CO U NTH I E MEA T8--SeIling price: Country gs. 15 c heavy atnU avas; veal, tops (aboot 80 to 100 lbs.), 12e;; heavy stuff lass; lambs. SCO 24c lb.M w i ! t. VMOKKD MEATS rlams, 83S6o sr lb.; hreaktast bacon. 2344o lb. FACK1NG MOCSK MKATS Steer beef. 13a Is. ; heifers, ! 14a lb. ; , eows, 14e lb. ; issabo. 2028e: ewes, 16sl7e; bags, lfl7e lb. LJkjuj svetua raiaeisa, x lae par id.; uarce !.; ! 'BEAKS Sman white. $8,00: Urge white. SS.OO; pink, i $7.00; iliasaa. $x.U; bayou, $.T6; red. SS.76. ' !. ! ; HONKX Case, $5.06. '-, " illUCih Japan, Nol 1. 6e; Bias Boss Of.; hew Orleans, head, 6 c , COFFEE ItoasLji. 20t32elb,ia sacks a drams. : H.i - ' : i SALT Coarse, half rr, 100s. $15.50 tna; 60s, $17.SS; ; table dairy. 60s. $27. bo; baise, $8.60 4.00; tancy table and dairy. $S4.U; lump, $26.56 ton. i 1 - - r: :-i.-.--- r i SUGAR: Cube. $7.3$ ;l fruit and berry. $6.40: yellow D, $ 5.801 bast granulated. 26.20: extra f. $6.00; foldea C, $3.90. ' ' L.VSNia alll Tails. $4.60; baby stas, $1.50 case: Eagle. $0.25 ease. ; -- - . - , SODA CRACKERS In balk. 14 lb. I NUTS Walmtta, B3t34c; sJasonda. 24 9 37 e Ox,; filberts, SOs ib.; pea nails, 11 , ,-. : t . , 1 1 !-C fJL- '" -' Ajax Rub. 8s, '45.... Am. Agr. Chem. 7s '41 Am. Smelt. 1st 5s '47. Ami Sug. St Ret. 6s, temp. ens. -37 ..... i ... , Am. T. to T. col tr. 5s '4 6 So col. 4s '29 Am. Water Works 5s '39. . Am. Writing Psper 6s '39 . ArJ A Co. rL est. 4 s '39 At. T. A S. Fe gen. 4s '95 do adj. 4s '95. . . do Tr. a. L 4s '58. AU. Ooast Line 4s 1964 At Coast Line L Ac N ooll tr 4s 1953 . AU. Fruit crt la 1954 Att Refinery 6a 1931 Bait Ohio 6s 1929 I do cvt. 4s 1933.... : do gold 4s 1948. : do prior ben 3s 1925 BA0 4sPLE4WV I' dir. 1941 .J.,.. Bell Tel of Petin 7s 1945 Parnsdall 8s 1931 Leth. Steel p. m. 5s 1936 lo 6s 1948 Breok. Edison gen 7s Ser ; p 130 Brook. Rapid Tran. 5s '45 : 4o 7s 1921 v. : B. IB. T. 7s,U.co.ctf.st.,2i Bui. Boch. A Pitt.4s'57 Can. Nor. 7s '40 i do deb. 6s '46 Can, Pad. 4s perpetual. . . Cent. Fdy. 6a '31. Cent, of Gs. Ry. con.6s'45 Cent Psc gtd. 4i '49... Cent, E.E. of N. J. 6s '87 Ucrro de Pasco .crt es 31 Ches. A Ohio crt. 5s '46. C. A O. cvt. 4s 30... Chi & Alton 3s '50... C IB. A Q. ref. 6s "71... j do joint 6s '58 C. A E. I. 5s '51 Chi Grt. West. 4 s '59... C.M.4 StPj5vt.5s,B-2014.. do gen. 4s '89. do gen. 4 s '89 do cvt. 4s '32 do rfg. 4s 2014 .... do 4s '25 . do deb. 4s '34 do 4a. Puget Sound '4 102 H 1102 103 4 jl02 100 97 82 88:- 89 89 83 86 87 81 44 103 89 83 81 H 93 794 107 105 93 99 107 63 84. 82-: 91 ' 111 11 1 79 85 98 107 119 94 89 i 47i 99 105, si 61 75 76 86 73 'I : 66 80 65 74:: 100 97 91 81 87 8,9 88 83 86 87 81 44 103 99 82 81 93 79 107 105 93 99 107 63 84 82 91 111 111 79 83 98 80 107 119 93 88 47 99 1054 81 61 74 76 86 71 65 80 65 734 102 103 02 100 97 91 82 87 89 88 S3 86 67 81 44 103 94 83 81 93 79 107 105 93 99 107 63 84 82 91 111 111 79 83 98 86 107 119H 94 88 47 99 105 81 -61 75 76 86 72 66 .80 65 74 TRANSACTIONS N3. N. W. deb. 5s 3S,. Chicago Rye Co 5s, 27 . , . fO S I A T rfg 4s. 84.,. Chi Vn Sta s, 63 . , . Chi A W 1 rs?S3 .il. ChUa Cop art 7s." 2 ... ' de eol.tri 6s. 82 ICHncin iaa 5s. 66 ..... J . C U C g i Ss; ser A. 29 POolo Son- 1st 4s, 29. . . vol uas Kl 5s, sta, ;7. Comp-Tab. -Record , 41 IJon l. Cable 4s 51 . , , ljr. Gas evt 7s '23.;, pova Prods, s f Ss 34 puba Cane Sugar 7a trvt '30 ( - deb ervt 8s sta '80, V. M. J5. S '22.,. t. A B. G rfg 5s '55.,. f ' A ma A1 !; ' " sai-w vwu -X4 , , . 4 - p. K. rfg 6a ser ; B '40... ueu uil ysi s - 32 . . Dia. Match deb 7a '33. Lmpont de Ktn, 7s "31. LrtKi. Lt. & Power 6s '49. do 7s '3S.T.i... i.. Pm. Gsa A F 7 s '37,. bine 1st con.! 7s ext. '40. da gen. ties 4s '96 ... . do cvt. 4i, see. A '53.. do cvt 4s ser. B .'63.. do cvt. 4, ser. 1) '53.. Brie A Jersey lis '55 , . . bramreican : lndast DeveL deb. 7s '87 , ., i. jen. Elec deb. 6s '52 . . LSoodyear Tire A stab. Co. baa Ss 31 i . . ..... . ranby Mining 8s '25 ... Grd. Trk. of Can. 7s '40. ureas Northern Is '36- . . do 5s '32 1 l Green Bay 4c Western deb. ( B perpetual HoQ-Amer. 6s li 4 M. ref 6s, ser A, '57 do adi. in&! 5a. 'S7 . Illinois Central SHs, '3H. E do 4s reg. '58.... Indiana Steel 5a ctfa, '52. taicroois-asiiL OS. do 4 a. Te. fTA, ,f. KA f K. T. ref 5s. '66 ... . Int. Psper 5s B. i'47 . ., int. Mer. ilarj a f 6s, 41 invincible OU Ss, '31. Kajser 7s rets. , . . . . K c Southern 5s. 50: JK C Term '1st 4s. 60. elly-Springfield Tire 8s, 31 sex eteet .S, za . SAMS deb 4s. 28. . do deb 4s, 81M... iggett A Myers 6s. 61. Lorillard Co Ta 44 L. A N. unified 4s reg. '40 no as 2O03 Manati Susar deh TUa'4-J Market St By. eon.5s'24. war. ou bs, war. 7s'Sl alio rale Bteel cvt Sa -3H . U. St. U 1st rfg. 4s '49 ao rig. os -oa ..... .St-P.ASS.llar. 6s 31 rv. & T. 1st 4s '90. K. A T. ss ser A '42.. do adj OS aer A '42. . . do 6s ser O '42 ...... o. Psc rfg 8s "26 do gea 4s '75 i do 6s '34;.., Mont. Pow Go. fitter A '43 Mcnt Tnia. Col 5i '41.. New OrL Tef: 4a 'SS N T C A H R deb Sa -as N.Y.Cent tr H.R.con 4s,'98 ao gen ss. 1998 . . . do deb 4s. 1934 dn Ss nfn N. Y.EdisonCo ref ' "'41 N.Y.Gss EL L HiP 5s '43 N. x. N. H. A H. 6s. 46 n.x. It ref 4s tr ea etf, 'a? N. Y. Rys ad) 5s, 1942 . . N. Y. Tel gen 4 s. 1939 do ref Gs. 1941 R.Y.WestABost 4s, 46 Niagara Falla Pow fi, rorf. b sou. os ser. A '61 Norf. tc West eon s '96 nor. traio tr. ret Hx w Nor. Pac prior lien 4s '97 ao pr. lien 4s rec '58. Nor. States Pr. let 5s '41 at. W. JJell TeL 7a "4 1 Or. & CaL 1st 5s '27 Or. Short Line rfg. 4s '26 o-w. R. & N. 4s '61. . . Pac G. A E. 5s '42.... Pac. T. ft T. 6 rcta '37 Packard Motor 8s '3L. . . Paris, Lyons, i Med. R. R. os certf a rss - . Penn. R. R. 6s "68..... P. R. R. G. M. 4s '65. ic income 4s 'BO.. Pere Mar. rfg 5s '66 Phila. Co 4s 34 R. L. A P. 6s '43 Beading gen. 4s '97 . . '. .. It L A. A L. 4s '34. . St L. Iron Mt A S. B A a. dir. 4a 'aa St-L.4u3.F.pr.lien 4s,A-'60 ao os, ser. B "50 do gen. 6s, ser. C '28. . do adj. 6s '55 do inc. Os 69 do gen 6s w. L '31 . . . Seabd. Air Line rfg. 4 s '59 ao aaj. os '4 a do con 6a '45 . Sinclair Oil cvt. 7s '25 an vs. rets. '37 do crude 5 '23 ... . Sharon Steel Hood 8s '41 Sou. pac cvt 4s 29... do rfg. 4s '65. do col. tr. 4a 49. . . . do S. F. term. 4s '50. Sou. By. com, 5s reg. '94 , do 6s. ?56 St Oil of Cli deb. 7s "31 Term Assn S. L. rfg. 4s '53 Lmon Pac. 1st 4s 47 do evt. 4s 27 - do ref. 4s reg. '08.. union Tank Car 7s SO.. United Drug 8s 31 .. Cni. B. B. A In v. Co. of S. F. 6s 34 . . ; IT. S. R. A I 5s '24.... V. S. Rubber 5s "47..... U. 8. IK. 4 M. 6i '28. U. S. S. s. f. 6s,"63.. ... U. P. ft L. 5s 44. . . .,. , Vir-Cenx Chem. fis '28., do 7Hs '22. ........ do 7 '47 Western Pacifio 5s '46 , . . West Shore 4s reg '61.., West Elec 7s '81 W. fl.. s. 7s '3 Wilson ft Co. 1st 6s '41 do cvt 6s 1928. . . . . . do 7s 1931 Anglo American Oil . .... AUantia Lobos . Imperial Oil of Canada. . . Indiana Pipe Line....... Int. Pet Co, ! Ltd. ....... Btandara OH ; Indiana . .. hUndard Oil Ky., Standard Oil N. X... 99 100 116 103 V9 113 109 100 10 92 Wl 83 s 64 101H Hi 99 16 16 . 71 86 97 96 104 88 83 108 99 94 924 96 113 88 103 100 o 102 92 47 47 1L2 ln 83 58 96 96 44 100 : 97 88 78 103 83 774 89 96 119 99 84 41 13 94 105 58 99 100 116 102 99 113 109 99 19 92 83 64 101 S3 99 16 16 71 85 97 96 104 87 82 107 99 94 92 96 113 88 103 100 90 100 91 45 46 102 81 83 57 96 96 44 694 96 I 87 78 102 83 77 89 93 109 98 82 41 12 94 105 i 67 103 1103 87 94 ; 86 58 91 t 106 9U 91 81 91 934 107 87 72 87 99 80 96 L 93 ' 42 26 61 105 99 99 99 91 87 85" 82 67 i I 106 81 91 94 103 109 87 72 B7 93 794 96 95 42 24 61 104 99 99 99 91 87 82 82 664 99 105 81 91 94 84 103 109 86 108 89 103 101 92 100 104 99 87 80 107 101 99 94 105 20 10 112 95 22 106 82 40S MIRY PRODUCTS' E IS TON ERRATIC Butter Makes Unseasonable Ad vance, Then Weakens; Sud ; den Change inj Poultry. ; x DROP IN LAMBS IS RECORD IN ALLEY Loss of i $4 Places Extreme; -Top at; $10 in Yards; Swine Show i a Slight Reaction., it- Tills week. Week ago. 2 weeks ago. 4 weeks sfio. Yeav ago. i. . 2 years ago . . 3 years ago. . 4 years ago!. . PORTLAVn LIVESTOCK TITTN. Hogs, Cattle. Calves. Sheer). -Car. 8T84 2047 200 SCSI- 143 , ' JJtUTy products' prices ! et somewhat ! er ratic f during; the week.- being firm and easy by tarns, with an undercurrent of weakaeaa per meaUng the , market Butter showed unex pected activit and advance bere during the early imrt of the week with a f consequent fight Cor butterfat and a aharp elevatioa of prices in the latter. Both the North and the South were Bayers of butter in this market during the week; continuing operations of the latter part of the previous week. Seattle and i Vancouver, B. iC were northern buyers lie re during the early part of the week and cObes went purchased ifor Sothern account by Los Angeles. i - ! . Taking the butter situation as a whole, the weeks-early advance was-! something entirely IleW In t lli. T-fi t t.r .n f .. H .1 . 1 ... . j .v (UU, ICI irx irL ih . --. - . . ' V ...w backwardness of the season as well as the in- I Pi was Shown with killers unmerciful in their creasing demand tor supply. : In a measure !the I sMugntev ot values, h They have ;tor some time 3 -.2 I : 8783 i 255 1 -i 2541 , 5241 663 371$, :.t4i 1783 1409 3 I 2.1 17S 182 1323 fit! 4033 ' 14K9 52 9279 ' 8343 4367 ' 137 1 IS 7 164 171 166 102 Xorfv Portland stwiwed. sreaknras generally f p mj nr, ou sieaiiiness lor rattle. Run for tbe six tis totaled, 143 ears, eomiiared with 187 ago. . in care a week ago and 116 ears, two weeks A year ago the run wasi 164 rani the sheep alleys the' greatest breakup of advance in fresh cubes reflected the lack! of aiuiwee notatnga.. - , ; OemaBd for atnraee ia lufamll, h. bat owing to the liberal outside demand there was no surplus sere to nut bitn bni especially aa ouuida sections were offering more money than the local cube market yonld ituBiy. either for atoraae nr fresh Mnmmnii., Toward tne closing of the week weakness was soown in oaouoa . markets, being quickly reflect ed hero in a lesser demand fne mK.. In mi.. t this changed condition lower prices are geh-. vuoe ouiuer extras rilled: Port. Chi. N V 1 i Moo. .34 e SSUe 86 n Tnea. ,.85o Wed. ..35o Thur. .35c Frt 35e Sat ...35o Wk ago4o Xr ago28e I Friday 34c 85c 35c 34c 84e 84 e 27e 86c: 36o 30 c 36 e 36 Ho 86 e 29 c: .8. F. ; JJ 38 o. 40e s e 3 So 3e 37c 87e 'SSo 35c 89e 89c 37 He 37M.C 40c 370 staa SltnaaJnn la Sbna While aelline the. same as a week ago and one cent ahn. a year ago, baying prices are la below last week's fmal figures. There appeared a weaker. do ma nd for supplies especially toward the closing of the week. Outside markets ifw-ti -tra ditions resulting in a generally lower nrin range. Storage ooerationa remain on a liKmi scale. , Select eggs ruled for week: 1 Port PM V T e n v.! a Mon. 26a 24 ,39e 25a 27c " .. . .,. . .-'oe id a se US Ho Wed. ...... .26o 25a ai ;su Thurs. ......26c 24 He 8e 26c Fri. ...... il 11. ' a Sat ..v.,.i.26e 24 e .S8c Week ago ...26o. 25c 39o 26o Year ago . . . .25o . 24o '. . 33c 25c fnaay. 28c 26e 26c 26c 27e 27e 24c fSeuMn Trln fti.nn While during most of the week there was denressed tone ind liva., nr,i ..- chickens, extreme atreneth waa ahnwn rlnrln. , i. laat two days of the period with the receipt of ery targe oruer. i ne (rem nd was especially lux orousrs, wtiicn naa Deen weakest previously, i vouniry waives Slump Market for conntrv killed nim alin-wi A. edded: slump in the Front street trade for the weea. file to climatic conditions, .thess was little demand at retail and tha small increase of offerings soon overburdened the wholesale trade. : i Country allied haes were about ateadv dnHne wie weea. Lambs ware weaker and lower. Potato Buying Ceases PraeticaTiy no operations for outside ahin- lueoa wece snown m tne noraxo trade roe tha week. There was a good local call, but at low prices. Outsiders amies red not intxrexterf , in tha local situation and most of the previous buyers were sellers whenever given an oppor- LUH114T. . . t: Wool Sttuatkui Fk-m Wool market situation continued atrone. ana only in the Pacific Northwest, nut thmnirlinat the Western territory. ; Sale of Texas wool at ae a potins created soma, excitement. Tha only slow trads reported is in the Willamette vaiiey. Mohair, trade was firm at foil prices daring been determined to best to a low! level the price : oi lain o ana ims , week s big run gave them the opportunity. . i '. ,, The week's big showing of supplies appeared to be timed for the sole purpose of forcing thia drop because a very large par cent of the offer ings was not for the open market being con sigaed direct to killers. , They aned these pur chases t- force the general reantloa in .values. Lambs dropped from "314 to (10 during tha ; weex, a record loaf for a market i 1 abe liks jperiod General sheep srxe lamb trade cnoice spnsg iambs . , Medium spring lambs , Common spring lambs Call spring lambs . '. . Light yes I lings ..... Heavy yearlings . . . . Ught wethtrj ..:..., Heavy .wethers ...... L'wea , , . .-u , . . . this 9 00 16.00 8.00 9.00 6.00 8.00 8.00 6 00' 8.00 9 00 7.00 4 6.00 7.00 to) 8.00 e.io 7.or 2.50 6.00 I . ' j CatUe , Market Hlaher . i : Tops in the steer division were quoted np to 39 sit North Pcfrtjand during the- week. I Theiwi was a slight decrease In the total supply avail able for tlis market aa cbmpsred witln last week snd the 39 extreme in thia division was continued over from Isst week., .General tons was consid ered steady during the period. General est us market range: ' . 1 Choice steers ...2 Medium to good steers Fair to medinm steers ........ Common to tsir steers ........ i Choice cows and heifers L I Medium to good cows sad heirers Fsir to medinm cows and heifers Common toj lair cows and belters Can nets J , ........... . Bulls . . ' . j Choice feed) ............. Fair to good feeders Choice dairy cows ........... Prime light calves . . Medium light eaivea ... ' Heavy dairy eaives , 16 108 89 103 101 4 92 100 105 99 87 80 107 101 99 94 105 20 10 118 95 22 107 82 493 lie lb.; pecans, T32e lb.: Brazils, 18 A 20e lb.; penestnats, japanase, 2Zai2e lo, . i I- Fish and Shellfish FRESH FISls Uliinwik. frMb. 23? a b halibut 18c is.; black cod. j 10 lie lb.; basket kippered cod, (2.25; lint cod. 8e to.j smelt $1.25 boc; sole, 8c lb.; sturgeon, 16 USe lb.; shad, dceased. 8e lb.; roe, abad. , 12 c pet in. -i - OYSTERS- Eastern. 94.50 gallon : Olrmoia. 85.00 per gat, 31.40 quart; crabs, largo, 33.69 Oox., small, Si.oo ana j ; ; ; Haps, Wool and Nldas ! HOPS 1921 erop. nominal, 15a ft. : HIDES Calfskins. 10c lh. kina. Be R.. green nides, so ir. ; sanea. oe in, AlotlAltt. nominal. 2Htw a &HLEKP, PELTS 'Long dry perta.'! Be: abort peRa, 7e lb.: long hair goat! pelts, 8 6)10e lb.; thoTT natr goat pens, -oe eacn. WOOL Willamette valley, eoarse. 20 49 39c: medium. S2S3e lb. : fine. 36tSsa The Kaat- rn Oregon-ioano. ivsim in. ) TALLOW AN O liliKSHK r? Ho. Z 4e; No. 2, 8 a. - nopa, rajnx, pits -: Drip's! ftWi: 1 S Sk 1 B - U.nila II U At. per' lb. . j, wiaa naiwj-enaw pnoe. ,i.v atau LINSEED OIL' Raw. bbfav. 31.10: ketlbi noasd. bbts. i.i2; Saw. cases, 31.37 gsi, Per xaL : - . Tkasnoap anaj smitasss ; l,lMft MtSASif ; ternhflr eafee hv aamitftmM (notations leprosenUBg I. o. n mm values in direct sales to retailers and lartnding aeillng ex pense: ! i FLOORING: I High. 1X4 No. a r. g... ...351.00 1x4 No. a f. g...... Su.OO FINISH;- . 3i- ' 1x8-10 . . ..i ...!.." 68. OS I CK1LANG: .H : x4 No. a and bettor 83.00 I nunp niniikiiii. : ix6 No. 2 and better 36. f9 i : BOAJUJS AND S tUP LAP: lxs-ie sis . . . . . -. , - i4.o ! DIMENSIONS i 2X4 12-14 No. 1 . . . 14.69 GASOLINE ( Iroa bbta, 26e '"' ! I mi; boiled. 88 e Low.: 347.09 31.00 f'Pra 947.90 - S4.O0 1.00 83.00 30.00 83.00 )i 4f' 1 ' . - ' 82.09 3 3. SO 18.60 132.SW-; 4x4 12-18 als ?10 13.66 LATH: 4ft. Sa 1 fir 1 SHINGLES: 2T.88 ia.0 1C80 ) ' ' , i :4 r ' i ' ' - Mat sales Vy 3s' aaula, 7.20SOO feet" ff. 111. , I ' in Ij ii H:l J, , f J!" $ Ui HIlnneanotls.-Dals th lia' "f -XC I MiBseapolis, May,20. ITai -May i and 2.7r on track and to arrive. 32.74 e 2.76. Duluth. May ' 20. Flax (May. . July and epeesuMr.' uetanec. S.11: mm- tn and to arrive. $2.73. l t: COTTOS- TTJRITS DOWJWiED j AS RESULT 'OF BEALIZIKG New York. if Msy 20. The. cotton market, after a serins of hesitation at the start today, turned downward, somewhat sharply, partly as the result of tha visual week-end realizing and partly in anticipation that the preliminary of tne gamers assoaatson would be varied. Frit closed easier off 13 te 27 "points. ! : The opening was barely steady at a decline of 4 to 17 points with July contracts seHing off ta zo.03 and October to 19.89 or about 65 ta 7S points below tha recent bast prices.: Rallies of several points followed on trade baying and ocvering for over the week-end. ,. , Week-end mUn of the goods market were generally onexmrsawing. - Fall River sales foe the week were estimated at 175,000 pieces and tha curtailment of production at 75.00U. It was re ported xnas Dosiness an itoe local cloth market has been moral general and that tha demand for saras was lncreaamg. : i Month i Jan. March ...... Mai .... a, 4 July ft. 3 oOCtt. 1 (4 t J New Tork spot market ,2143. -! ; Liverpool ooUon closed nnr hanged. Open. - High. . ' Low. Ctostt, 1977 1980 1962 1963 1978 1999 i 1945 1943 2107 2123 2090 2120 2007, 2015 1987 1990 1990 1993 1973 1977 1985 1993 ! 1972 1977 : Tre)d Frntt and Beans ' New Terk. Mae 20.- I. K. R V fli Market strong.: Marrow, choice. 38.00 as a 26: pea, choir e, $8.50; red kidney, choice. $8.75. . Oned Frnits Market steady. Anrimta. eholea. o exura tancy, as m appaea. evaporated, prime te fancy. 17 9 21c; prunes, 80s tn '60s. 18ei8e: do'SOs to ' 100s, 612e; iwna. awaa to , aaxxsi laner. laovzze: aa. isas raiaina, solphar bleached. 22 923a r Winnipeg; Wheat Options Winnipeg, May 20. Wheat: : Open. High. . Item. ay ',:..! 138 138 1ST at July ...... 136 13 laiila uct ......123 123 i 122 387 139 122 .-. . 2- k Kow! Tork-Landon BDrer ?few Tork. May 20- Commercial bar aflver: Domestic wnefaaaged at;99c; foreutn 1 c higher at 73 c 1 ! -: , . - :f.-f Londoa. Atay 20. Bar ailver 1 A hiaher. M He...- t . : i il.;;' .1 :f r .;, - j smV'A -, -4.4 t- , i- HeaTT Bairn at Btpyacf Heppoer. May 20. A apiendid rain, the first srheo April 14, deaoended task, snght and as mam tiBwrnc thia morning. worA aa iiautaensa ansa ts faracexsi of Morrow Wheat Is Lower Again at Chicago; Trade Is Erratic : ; I ; . . Chicago. May 20. The wheat mark. ... enlivened during the last: hone , th brouii-nin of irtda nrirW: llAVI.TlMl ,MI. tdderable weakness. May waa erratic but cash nouses sota wneel tney nad picked up in out- ue wno. ana as started turtner liquidation by the looga. ' There were 800.900 bushels of wheat bought from the Southwest and the West. em muis to coma to this market and 100,000 bushels of wheat were sold to go to store. Presnre on July was mainly from houses who were identified! with the long side of Msy. Some of the trade was inclined to the belief that 'May ; longs were hedging the cash wheat they now own in this delivery but other claims tnat- taiS; selling was by Winnipeg interests. Cash demand was slow. : Seaboard reported scans new rea winter wneat worked for export Farm ers were reported offering new wheat freely at $ 1 : a bushel, f Month west also reported farmers free sellers of wheat indicating., a better crop poBBos. ine marset closed HW4HC lower, msy 1.S 1.36, July $1.23 1.23 September $L18 1.18. Corn held . well in face of the weakness In wheat." The feature was heavy buying of July oy -an export, noose, lata while earlier this aa house i bongbt September. Cash booses wi the princiDsl sellers. The - demand for caah eorn waa alightly improved and; Judging by tbe Duymg ttr : iutures tna rteaooara report business mast bats Daen large, i ns market closed & He Either; May. 61 e: July, 646aT September 66 4 a i Oata were aoiet. Cash hovtaaa Isonvht and resting orders to bay July at 39 a steadied the market for a time. Tbe break In wheat was a aepri ssiiis factor. Cash demand waa not ao good -as of lata. The market closed no to 188 down. May 87, July, 39. September 40. - ' ' I! ! Provisions were irretrular. May pork and ribs were bid up by shorts. Liquidation carried other pnMocw imrer. mm ciosea xoe, np, iaru. zswy in iown anr'nis eve np to et lower. a;nieaga range ay united press: .. WHKAT . : Open. High. Low. Close. Msy.i..... 330 140 185 133 July........ 124 . 124 1123 123 September... 119 119 118 118 CORN May ... 61 61 j: 61 . 61 July....... i 64 64 : 64 64 Septetuber... 66 66 . H 66 hi ,. - 66 !;', ;: I OATS ri. U '-,": ". May,J.L,. 87 874 I 87' 87 July 89 89 i 89 39 September... 40 41 . 40 40 roas, Mar........ Usy.,....M JulyJ..... .. May.:..;, July. . . . . , September. May. July. ,, . W M ! IAHD , ! j w a '' 1160 ,1160 1170 1172 RIBS ' : 1310 . 1330 I 1195 1202 1188 1190 i ' BTE f : 108 , 108 107 i 107 4 1142 1167 1300 1192 1183 to 103 i 2320 1140 , 1147 : 1170 1330 12O0 I 1185 106 103 'r-,l Chicago pAUto Market . --I Chiearo. Mar 20. (L If. 8.)i4-Potatoas Re ceipts 67 ears. Wisconsin round white. $1.60 1.60; Idaho ruaseta, $2.00.1 New Alabama Triiiasphs, $3.65 8.75. . ::fi"i: Xsw York Ponltry Market 'i1' ISaw Tw Mae SO I. N. Uve noul- try Market acta ve, - Broilers, 40 60c; fowls, 2SfSuc: taTkevs. 2 3 40c: roosters. 15o aak: ducks. 37 WXSCi geese. 11 e?i - nil, rranelsro r Cask j TBarler Ran Francisco. May 20. Barley Spot feed. per ctL. $L35L40; shipping, $1.45 1.55. BOSTOW COPPER SHARES (Reported by Overbock A Cooke Co.) Bid. Adventnre 60 ! 65 Ahmeek.. 64 45 Algomah.. 20 i tQ i Allonea. . 26 I .' 29 S I . B i Oentennial 11 1 12 Cop.Rge. 44 44 Davis Oaly 8 8 E. Batte.. llH 11 Frank, Mg. 2 2 Hancock, , , S : , , 9 Helvetia. . 1 . 1 i Iw. Creek 114 114 Keewsnaw. 3 . S Kerr Lake 8 Lak Cop. 4 i LaSaiis..' 14 Michigan. . 2 Mohawk., 61 . M. o. Ool. s- 2 M.Battav. 13 3 6, p2-- . 2 62 '""' 13 I . ij,. Bid. ilptssinr.. N. Laks.ii 20 i fa il. Op, 26 OseolaMS. SS lObtjasre.,.. 3 mus. sasi, ve f Lake. t . 46 teup. Bostoa 1 KJ. AMch. 41 do Pfdi 25 taap. Cop., Irs lirtn. cots,.. 1, iTuolnmnw 90 ("tab Metals 1 C tab Con.. 2; O. S. Mng. 44 L do pfd. 46 Utah Apex 8 Ventora. , '..21 Victoria.;. . 1 i Winona..',,, 1 KTelvenaa 14 AA. ': 6 60 i Hi : a : 47 - 4T ; 14 42 2i . 1 K ln 93 : 1 I'" 8 : 43 , '47 r 2 : 2' . I 2 j' 13 8.30 9.00 H.00MS 8.60 ' T.OOd HOD 6.60 '7. WO 0.75(4 7. MS m.lbft tt.75! 6. t)0( 6.76 4.00 b.OO 2.9 4.00 3.75 (A 5.25 6.25 (t 6.25 4.76 6.26 8 50(4 9.00 8.00 8. SO 7. UO 8.00 4.50 7.00 I ' Swine Market Is Lower . -1 Slight reaction from the liltrh tmlfit waa airtw in the hog alleys at North Portland for, the week.! There was a fair increase in the supply, but this seemingly was - nut the ciuse of tha drop of j 25o- to $11.60, as the extreme' top was quoted .at $11.75 on Monday and Tuesday. General bog market range: Prime light $11 .23 (S) 11.50 i Smooth heavy, 280-300 lbs. ... 10.50 1 1.00 ! Smooth heavy, 800 lbv Up... 10.00 10 50 Rough heavy i 7.60(9 9.60 Fst 'Pigs 11.2311.60 Feeder pigs ............... 1 1.23 1 1 SO Stsgs . ,..: ! 5.00 7.6" ! ; DiaposiUon of Livestock , I Following: wss tbe disposition ot livestock at norm i-ortiana xor tne ween: Delivered! to: Barton A Co. . . j . ; Carstens Pkg. Co.. . . M. J, OIU. Henry Pkg. Co. . , . ," T. Rj HowiU ...'.. S. Kaptur i Scblesser Bros. . , . , Swift A Co .. United Meat Co..,.. North j . . i , .,. Miscellaneous ...... Through stock ..;.; Oregon feeders . . . . . Washington feeders. . Csttle. Calves. HogsJ Sheep. I 14 ...i 1009, . . i . . . 854 ... -34 131 i su.ij . 226 126 . r.s . 881 . 74 . '225 . 24 7 . 15 .., 192 I ... I 160 23441, 8 75! ... 403; 107 ... 106 . . 839 137 12o5 85 a ! 72 .! 'iiol i EASTERN CASH WHEAT (Reported by Overberk A Cooke Coi) ' Chicago, May 20 Cash wheat: No. 2 hard, $1.861.36; No. 3 Montana, $1.30. . Winnipeg. May 20. Cash wheat: Ne. 1 northern, $ 1.49 : , Nd. ' 2 northern, $133; No. 3 northern. $1.30. . 1 Minneapolis, Mtj. 20.- Cash wheat: No. 1 dark northern, 31.58 1.62 ; No. 1 north ern. 31.32 1.58 ; No. 1 dark hard Mon tana, $1,42 1.50 . Omaha. May 20. Cash wheat 1 hard, $1.30131; No. 2, 1.30131; No. 3. $1.27. ! 1 "i i : 1 Oats No. 2 white. 87o; No. 8, So He. Rye 96a. i Barley 86e. ' '; Sti Louia. May 20. Cash whest Wait- 3,' $1.871.8$; No. 8," $1.80 1.33 ; No. 2 hard,: Oats rNoj 2 white, 40 a jSaa Frasclseo Poultrr Market Ran Franoisco. May 20. (V. P.I Poultrr. urouers. x v x IPS., SZ13.14CJ 1 to 1 . SflPBSc: 1: to 3 lbs.. SSdeSOe: tatnrvA e. era, 2 to Slja, 36(i44c; colored young roosters.i 3 to 4 lbs., 434Tc: over 4 lbs., 3644e; staggy, showing spun. .2580c( oolored old roosters, 17 19e; Leghorn okl roosters.i 146 I6c: Leghorn hens. - 2 ta a IV., navii.. J.Ibai.snd over, 24S25e; Urge colored baaal SO 82c : " ' Oucks Tbonf, 2325e. I eese senna. 2t:p. i .... i, li. Sn.w. . ., , : ., t leed Turkeys Youaa-. 424, r- Sf stsrltof,' Forelra Excnir Karktt new lort. My 20. 111. P I O tbe list today wss irregular. Demand 003 1 T' -080? ' -Wo"l marks. The list elaaed irreenlae 1 - Demand sterling. 84.44 ; fraaoa. .0908! ure.ylo; marks. ,0033; kronen. .2134. i it , s . j.. I Kow Tork I Wpol and Hide i , New Tork. 'May 20 ft K. n i va.i aisrsec strong. Jjomestle neeea, iX Ohio. 88 wave; aomesua puuea, scoured basts, 6 0o 31.00'; domes tie Texas, scoured baaia. 4n,ia ill 1 i . : i , v - : . t Hide. Market firm. branded steeri, 13c, j i- -i ? . I 5w Tork Bank Statement1 ' I New Tork. May 20. Bank -- ages: Loans, increase, $96,742,000; demand de posits, increase, $68,088,000; baa deppsiu, decrease, $73,000; reserve, decrease, $2,454,770. . Actual Loans, mcresss, $97,689,000: da mand deposits, increase. 366.109.000; time de .,sjf,w; , raaerve, dec Natlv staers, 1IH; posits, I increase. S29.88,V30. 3Tsw Tork Sarar and Coffee j j New Torki May 20. (TJ, P.) Sugar flrta, relinotl Steady; granulated, i $3.30 Law. $4.07 5.50. Coffi N. 7 Rio spot, lit 11 e;: No. 4 Santos. 14 14 c I $: A 3jraal Btores Market ; ' I - , New Tork, Msy 2"0. Turpentine: Savannah. 90c; New! York,. 97 Sic i - ; , i -r. I ! Ro-wn: Bavaanahi 34.15 4.4$; New! Tork, '4i:-M,:"- -4't j - "' h r ih FOBEIGX EXCHANGE SATES -Corrected (daily by tha foreign exc bancs oo- partment of tbs United States National bank. Quotations below (except the noand steriinsl are quoted on the basis of 100 units foraiga eorreney. i f : I . '' li - i I . Opening' nominal rates on bank tranaactjlens: 'i ; :: I . I ; . Draft H : . Cable ' s ' Par Lt.ndon ' Checks.! i Tranalers value Lb! sterling. $ 4.44 $ 4.45 t $ 4.866 Paris Franc. . 9.05 6.06 -.88 s .83 8.11 6. J 2 Be run Marks Genoa-Law. Athens Dracbrasa Copenhagen r K ChristiaBia j hrooer. , . Stpckhoha Kroner,, ri Hongkong L 9 4 19.80 23.81 19.89 4.19 : .4.21 ,: i . W- 21.30 .'j. 21.85 18.52! .."-j.." 18 57 '2,f0! ;.:'"';. 25.75 '89.4 :'!' 69.66 47.S5 47. SO Saanghar Taets 80.75 81. OS 19.80 28.701 2d.Tw , J . , Canadian dollar discount l ,per cent INTElJJGiEKT PRODUCE MARKETING; , Maka vniir nrnduce worth mora monev by uaing latent "methods at the time you prepare ins .srupmtrn s irwiutKf;, , ftlHiWHlw'lici' at bnt.'f: If Wo WIU Bo Pleased to Tell Toa How RUBY & COMPANY. 189 FRONT ST. . .- t'Olt I LAJa A, VkUS. l-U-'.; i . 1 . -ri'D-:' J 1 ' ij, i i - ' .' . : - , ... 1 -&t'. :.;.". ..a.--'- .Till t"'! l!" 1 t ' . i ii, ' 1 - V