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About Capital journal. (Salem, Or.) 1919-1980 | View Entire Issue (Jan. 6, 1925)
'TUESDAY, JANUARY 6, 1925 PAGE EIGHT THE CAPITAL JOURNAL, SALEM, OREGON DEPLETED CITY STOCKS CAUSE FLURRY IN POTATOES TO $35 TON, FOB Portland, Jan. C With Yakima dealers asking ns hUh as $:(5 a ton f. o. b. for United Statea No. 1 grade Cjenm. the local potato market is somewhat excited this morning "d prices a shade high er. Whether the flurry will es tablish higher trading levels or not, remains to be sen. There haa been li'tle activity in the northwest potato deal during the past three week, as tempera tures have been too low to allow tafft shipping. The result has be?n that stocks at receiving points, such as Seat tle, Tacrmia and Portland have been depleted and now the trade Is back Into iho market again for new supplies. Tho sudden demand on Yakima for Blocks with very little available for loading has stimulated prices. Actual loss from the recent cold nap has not yet been fully estab lished. Potato men in clo.se touch with the situation believe that it will not be heavy. In the wholesale market this morning, U. H. No. 1 Cenia were elling at $2.50 with combination grades at 'i to Oregons were quoted at $1-75 to $1.90 with a few fancy bakers at $2 per hun dred. Ki?B prices are flrine-' In the lo cal butter market with prices hold lng steady on tire dairy exchange. Ordinary butler, however, contin ues plentiful with the market showing a weak undertone. Another decline of 25 cents a Back has been announced by San Francisco sugar refineries but lo cal wholesaler will not put the decline into effect hire until the lover priced sugar Is received. Shipments are due in time for the Friday morning trade with the prices at that time to be quoted at $7 a sack on cane granulated sugar MVi:ST(M'K Portland, Jan. 6 Cattle mar ket steady; receipts none; steers good $8.00 (fi1 8.50; medium $li.IiOftl 8.00; common $5.60 (it ti. 50; can ner and cutter steers $4.00tfi 6.60; heifers, good (850 pounds up) $(1.507.25; common and medium, all weights $4.25i 6.60; cows, good $5.756.25 common and medium $4.00 ft) 4.75 ; can n erg and cutters $2.50 It) 4.00; bulls, good (beef yenlings exclud ed) $4.00(14.50; cotfunnion to med ium (canner and bologna )$3.00ii) 4.00; calves medium to choice (190 lbs. down) $7.004j1A.50; cull and common (190 lbs. down) $5,005$ 7.00: medium- to choice (190 to 260 lbs.) $ti.7ti Sj9.f0; medium to choice (2C0 lbs. up) $5.50(7.25; cull and common (190 lbs. up) $4.505.60. Hogs steady; receipts 453; heavy weight (250 to 350 pounds) medium, good and choice $9. 50 11.00, medium weight (200 to 300 lbs.) medium, good and choice SI 0.25 rr 1.00; lightweight (160 to 200 lbs.) common, medium good and choice $ 1 1.00 tiv 1 1 .25 ; light lights (130 to 160 lbs.) com mon, medium, good and choice $9.50 fi 11.00; packing hogs. smooth $i.50 '89.00; (lacking hogs rough $8.00 fc H.50; slaughter pigs (130 lbs. down) medium, good and choice $8.60 fit 9.50; feeder and tucker pigs (70 to 130 lbs.) com mon, medium, good and choici $7.00 40 8.00. Soft or oily hugs and roasting pigs excluded in above - quotations.) She.'p steady; receipts 302; lambs, light and handy weight, medium to choice $ 1 4.00 16.00; heavyweight (82 pound up) medium to prime $12.00'14.00; all weights, cull and com mon $11.0O$f14.00; yearling weth ers, medium to prime i 1 0.60 tfS 12.60; wethers (2 years old and over) medium to prime $8 50t4 10.60; ewes, common to choice $8.00 1(? 8.60; canner and cull $3.00 H 6.00. (Above quotations except lambs on shorn hauls. Portland, Jan. 6 Standardisa tion of berries and small fruit af ter the manner in which standards have been established on apple will be sought by the Northwest Canners' association, which U holding Its eleventh annual con vention here. A committee hiiH been named to work out details. Today's morning session was oc cupied with demonstration of wimples ot berries taken from var ious canneries in the norihwest. Mark Kwald was general ch;il:)iian of this meeting. W. O. All-.-n, of Salem disrusHcd strawberries; H. H. Mr-kin of lielllngham. red r:ip berries, Si. K. .Muling, of Hlllsboro loganberries; A. Spencer, Olympia, blackberries; Ira ilutchlngH, Cor vallis, gooseberries; C. K. New house, Mpringbrook, black rasp berries. An address on business ethics by E. F. Ohuse, of San Jose, C;il., president of the Canners' League of California Is a feature of the program of the afternoon session. Irving K. Vlning. president of the Oregon State Chamber of Com merce; lr. Hay W. Clough of Washington State College and K. A. AHn also are to speak this afternoon. HOW THE HQ C MARKET BEHAVE D IH 1324 w WEEKLY TBIN0 Of HOC FIHCK AMD HtCl '"iBffiTftuj MUHDRW J"Ti i HAinAMrHAfT 9tC litems ' " 1 I ffSSLS IIQ7 A 1 HASKITt tlO.M I , I wWftOOt. tip 2$ I 1 j vcmo HQ 0 7j 1 Sj 11 WW 1 17? V A ?I I MftOOO H0 Vl 1 k r SSQ0OO 1125 V. t m MOO JJ I V j W 1 ur wo JJJS j 559521. n?s Y JLl 111 oaooo J..I.M l L 1 $uoo 17.75 l , I 8OQP0O IT50 , A Q000 itjs 1n F RECEIPTS 40QQ00 I 7.00 ""NV Jrj? 350000 16 .7 S I III I "r'T-''v'"r"'i "Pfttt 8" lem ('a liners Attend Silem canners are In I'ortland almost to a man attending the an nual convention of canners In ses sion there. Today the can cutting demonstration starts. Tins is orre of the most Interesting of all of the features of the sessions to win ners and always brings out a full attendance. Samples are taken promiscuously from various stocks all ovor tho coast. These are lab eled with key numbers, the fir-1 label being removed, and all are cut In the presence of the canners. ThA demonstration, It Is stated, has had a very material effect in improving tho canned fruit pack throughout tho northwest. liogs have phyed a leading role In an unusual live stock market during I'JIM. The present cycle of production is just emerging tiom tho ttage of excessive marketings and low prices and Is headed toward a period of underproduction end high prices. Twenty per cent lev.-er pigs were raised during 1924 than In 191:3. This comparison, however, must bo based upon the memory that the nun-btr of pigs raised in 1922 and 1923 was tho largest on record, inproxiimtteiy 20 iter cent over the normal as measured bv the average volume of production in other years. The result for the past vear and a half has been excessive receipts and poor prices for the farmer. wiitie tne consumer revelled in cheap prices for pork. By July. 1924, eceipts at tne leading markets had been normalized by a reduction of 20 per cent while the total slaughter for the year was around 7(1,000,000 head of hogs. This Is a reduction of 5,500,000 under 1P23, while the year 1 y 2 5 probably will record a Mt ill more drastic reduc tion to about 62.0U0.000 head for the slaughter. 1 he domestic dunand for hog products has been strong, how ever, end prices have stood up well through the recent months, averag ing from $2 .00 to $2.50 higher than last winter. From the fall of 3 to tne late summer of 1924, while the 1923 pig cron was Koine to market, the average price for hogs at Chicago was $7.65. In view of tho prospects for a greatly reduced pig crop In 1925, an average of around $11 for hogs nt Chicago is well within the bounds of eson tor marketing from the fall of 1926 to September, 1926. lo: Chlenso, Jan. fi The wheat op ening which ranged from de cline to 1m advance, with May $1.7H',4 to $1.74 and July $1.61 to $1.52, was followed by upturns of 3 cent In some cases and then by a temporary reaction In which Alny arid July went bjl.jw yester day's finish. After opening tinchang d to off, .May $1 25 to $1.2ll, the corn market average 1 a little below yesterdi'.y's latest figures. Oats slarte-l unchanged to lower, M iy 59 to 60 '4 and con tinued mMly at a slight decline. Provisions were weak. Corn closed firm, 1 to 1 net h'gher, May $1.2Vi to $1.2H&. Thf wheat close was firm, 2 Vi to 4 cents n-t hlghr, May $1.77 $1.78 54H. and J ily $1.54 to POTATOES Portland, Or., Jan. 6 Potatoes teady with $1.251.35 for Ore gon stock; onions steady, firm; $3.00 paid in country. Durn-.it and nirrii:iti'Ai Portland, Or., Jan. 6 Hotter steady; extra cubes, city 4fic; standards 44c; prime firsts 4Hc firsts 40c; undergrade nominal; prints 4Hc; cartons 50c. Butt erf at firm; best churning cream 45 5 47c net shippers' track gone one; 49c delivered I'ortland viii:.t Portland, Jan. 6 Wheat bids: baa it hard whin $1.87; soft white $1.7(1; western white $1.75 ; ha winter $1.75; Northern spring $1.78; western red $170'; Illt.lt hard whtte $2.00. Today's car re ceipts ; whont 33, flour 1, hay 7 corn 9. PoriiTitY ami r.(;;s Portland, Jan. 6 Kggs higher; current receipts 42c; pullets 40 4c; firsts 41 He; henneries 44c. deliver ed Portland, Portland, Or. Jan. 6 Poultn teady; heavy hens 23c; light 17 Gil 18c; springs 20 fit1 25c; old roosters 10c; due k white 1'ekln 20tr2lc llvs turkeys 23c: dressed turkeys SCAHA AM) Nl'TS Portland. Or., Jan. 6 Cascara bark steady. New peel 8c lb.; old peel nominal; Or egon grape root 4c pound. Nuts .steady; walnuts, No. 1 budded 2a (a1 31c pound; filberts 1 5 1 He pound i Birunnds 87c Brazil nuts I(lfiI7c; Oregon chest nuts 16170 HOP MA UK FT Portland, Jan. 6 Hops firm new clusters 15c; fugglcs 15 4 18c old crop nom. lem Markets Compiled from rt'Hir1t of 8a lent dealers fur llic guidance of On pita I Journal renders. (Ite vised daily. I Grain: No. 1 whtte wheat $1.93 No. 1 red wheat $1.58)41 (sacked) WlHl(ntr rmxt Meat: Top hoirs lOe; iows Ttf 8c; dressed hogs 13c; top tears $7c; cows 4r&c; can ner cows 1 H up; bulls IHO&c prime lambs up to to lbs., 14c Tsal 9c: dressed veal ISc. Poultry: Springers 16c; light hens 12tf14c; heavy hens 18&20c old roosters 70; ducks 1091 no turkey 82c dressed: allvs I3tf 25c g-eese 18f20c dressed; llv 12c Daliln At.Um allv HSIlA India Itunner ducks alive 14llo and fill. Choict and et Butter fat 48o; creamery butter lo $2.69 box. $66,386 PAID TO "Wood burn, Jan. 6 The Wood- burn l-'ruit fJrowers Co-operative iKttoc ration's report shows that dur ing the year 1924 they paid out to growers a total ot $tti,Sti.87 for t he following summarized pur chase of fruits; Lbs. Soft strawberries Ited Kapberries (ioosebcrries Loganberries Koval Anne cherries. Sour cherries Itlaek caps Ktl erbertf st rn wherries..., Kvergrecn blackberries.. Hartlott pears .109,40 .155,05 .. 82.42 ..426.023 .. 30,539 .. 5.916 .. 2,926 ..162,261 ..2:!2, 748 .. 24,879 At present there are 151 active memhers in the association, re pre Meriting a berry acreage of 666, difl' trlhuted as follows: 88 acres of red raspberries, 245 acres of lo ganberrics, 50 acres of gooseber rles, 56 acres of cultivated black berries, 63 acres of Kltcrsberg strawberries, 66 acrra of soft strawberries and 6 acres of black caps. New York Amp. Iran investors during Ht24 sultscribed more than billion dollars for foreign loaiiH, an outstanding achievement In a year that passes Into financial his tory as one of the most remarUahU on record in the point of new fin ancing. Not only did tho volume of for eign financing establish a new ord, but tho tata of nil new caplt il flotations as well ranked ;imon the highest In history. Al though accurate complications are not yet available, preliminary estimates Indicate that public of ferings of all stocks and bonds' during tho year approximated $,- 000,000,000, contracted with about $4,700,000,000 in i!j;t. KoreU'u bond ran a cb.se race with Ma?? and municipal offerings for first place in the amcunt of new hiirtines handled. Mutations of the latter, aggregate almost $1, 4i0,0 ilO.OOO eclitiscd all previous records, while th latest figures on foreign loans Indicated that the to lal would reach slightly more than $1,200,000,000. Trading In C10 bond market throughout the year was marked by a progressive forward move ment, governed lar gely by the easy money situation. As 1024 drew to clone the price average of 40 representatives Issues was the high est In several years and approxi mately fl points above the low mark reached early In the year. An abundance of Idle funds, at tested by Rraduil reductions In the rates for time and call money ami three cuts In the New York fed eral reserve bank's rediscount rate, contributed to the bond mar ket's strength. The flow of Idle cavh Into Investment securities car ried the price of Tutted States gov ernment obl.gatlons well above par and brought about a steady appreclatlen In the quoted values of all types of corptMallon and foreign government issues. The Craves Cannery, which has been operating In Woodhurn for several years has during this sea son shipped over 80 carloads of canned goods to a greatly extend ed market. The cannery operates a considerable force from late May to Decsmber and has a payroll and purchase record that shows con siderahlc money placed In circula tlon In Wood bum and the sur rounding country. Air. Hay Graves nas me management. The pickle factory management has paid $15,000 to growers this past year, growers averaging $22 per aero and one man realizing iOMi on three acres. This was tho first se:ison for the factory, but me company is planning growth, expecting to Increase the acreage 1 rmu 100 to 00 acres for 11)25. GUILTY PLEAS BRING $200 FINE TO PAIR Dallaa, Or., Jan. 6. M. B. Beaver and Karl Haseltiue, who were arrested before Christmas on a charge of manufacture of liq uors, appeared before Justice of the Peace Coad, Saturday, and et; tered pleas of Kuilty. They were lined $200 each. The men their testiomny before the judge admitted that they had trans gressed the law. Their operations had not been extensive. Jfaseltinc is school clerk of the district, near Iluell, where they reside. No man believes his creed who 1b afraid to hear It attacked. 192510 BE GOOD YEAR FOR FRUIT CANNER. BELIEF Portland. Jan. 6 That 1925 will be a good business year for the canners was the opinion of more' than 150 members of the Industry who met here yesterday lor the first day's session of the annual four-day convention of the North west Canners' association. Oregon, Washington. liritish Columbia, Idaho and California canners were represented. Northwest canners packed more than $20,000,000 worth of fruits and vegetables during the past year, ac :oi dlng to figures which showed record production. Al though the output was the largest in history, practically all of the canned goods have been sold, A1'egatea registered ot Multno mah hotl yesterday and then mov ed to the plant of the American Can company, Twenty-sixth and Wilson streets, for demonstrations .Most of the worfting meetings of the convention will be held at the local establishment. F. P. Kendall, northwest mana ger of the American Can company, welcomed the delegates, and JI. F. Davidson, president of the asso ciation, outlined the purposes of the conference. Reports' were made by C II. Mlntjn, treasurer, and Kdgar M. Burns, manager. Mrs. Millie R. Trumbull spoke on "Cannery Sanitation," and Mrs. IJ. M. Johnson of the department of labor of Washington on new sanitation methods, Charles A. I'ark, president of the Oregon tftatd board of horticulture, took the subject, "Standards of Fruits and Vegetables." Dr. K. F. Koh man of the Canners' association research laboratories, read a re port on experimental packs of 192.1. Cutting demonstrations will be started today, with displays of berries. Tomorrow attention will be turned to tree fruits and Thurs day, the last day, to vegetables. The annual convention banquet will be held at Multnomah hotel Thursday night. Kdgar H. Scn senlch, president of the West Coast National bank, will make the chief address. The session Inst night was in the nature of a business meeting. LOGANBERRIES ARE PACKED A crew started work today at the Salem Fruit Union putting up 110,000 half pound cartons of Mist land loganberries, or 55,000 pounds for immediate shipment, these be ing part of the sale made of Mid land logans by John H. Race on a recent eastern trip. Tlie pack is being made under the direction of Robert C. Faulus. It ie expected the crew will be on the job for about a week. Charter No. 9021 Reserve District No. 12 REPORT OF CONDITION OF THE United States National Bank AT" SALEM In the State of Oregon at the close of business on December 31, 1924. RESOURCES 1. a Loans and discounts, including rediscounts, acceptances of other banks, and foreign bills of exchange or drafts, sold with indorsement of this bank (except those shown in b and c) $1,039,451.31 Total loanB $1,039,451.31 2. Overdrafts, unsecured $4,189.88 U. S. Government securities owned: a Deposited to Becure circulation U. S. bonds par value) $ 31,000.00 b All other United States Govern ment securities (Including premiums, if any) 219,850.00 Total ..... 6- Other bonds, stocks, securities, etc. : 6. Banking House, (137,200.00; Furniture and fixtures, $14,949.88 7. Real estate owned other than banking house 8. Lawful reserve with Federal Reserve Bank 10. Cash In vaule and amount due from national banks Amount due from State .banks, bankers, and trust companies In the United States (other than Included In Items 8, 9 and 10 Checks on other banks In the same city or town as reporting bank (other than Item 12 Total of Items 9, 10. 11 12 and 13, $264,2S6.62 Redemption fund with U. S. Treasurer and due from U. S. Treasurer Other assets, if any 11 13. 15. 16. 4,189.88 250,850.00 756 381.48 152,149.88 15,746.92 131,410.47 232.7S0.02 7,267.22 24,239.38 1,550.00 444.13 50 Wile- vtiiiM :t4e: standards 38c; select 40c: milk $t.80 cwt. V'etabUi: IVtatueR $ I 65 (a 2.15 cwt.. head lettuce :i. 75 crate; OreKiin rabbace 3 ti 3 He celery heat ts 11.20 doe, ; crate IS. 00; cwt. onions 12.76. No. 1; boiler SI. 25 per cwt: sweet potatoes. fancy. He; spinach greens He Id pepper 2ftc: rreen Hubbard nquaMh $2 25 per cwt.: pumpkins ic in.; rulan.-iuna mc; Backed cauliflower t'i 60 crate; carrots $2.25 per cwt: Oregon McKar yellow SVic; brussell prouts, home jtrown 16o lb.; Jumble orange f 2 60 bni; Japanese oranges $2.00 California bunch vegetables: car rots, beets and turnips $1 doien parsley, radishes ftOc; green peas ibc 10. Fruits. Apples $1.10 box, face fancy up YEAR OF 1924 New York A post -elect Ion boom of unprecedented proportions car ried stock prici-s to the highest lovela in years in the closing weeks of the year. Kailroad shares were foremost in the advance, many of them touch ing the highest prices ever record ed. Not since the early part of the present century, when Harri man and Could st rubied for the control of the leading western transportation systems nf tho coun try, has Wall Htreet witnessed a railroad market of such breadth and volume as took place in the last two months of the year. An cnnrmmH Investment de mand, apparently pent-up for cars through fear of adverse leg islation, broke i'orth like a flood In the few weeks following election, when it became apparent that the so-called radical bloc had lost the balance of power in congress, that the Administration looked with fa vor upon railroad consolidations, and that the roads had been suc- cetiful In increasing their net earn ing through a redaction In oper ating coats. Tangible evidence of this improvement, furnished by the resumption of dividends on stocks of some of the southwestern car , ricnt, stimulated the demand, which came from Urge Institutions snd wealthy Individuals, as well a a myriad of small Investor. Industrials shared In the ad van re. the tart; est gains being re corded by the securities of those companies whose earnings gave definite indications of bulness Im provtment. Total $2,616,460.69 LIABILITIES 17. Capital stock paid in $ 18. Surplus fund 19. a Undivided profits $66,950.65 $66,950.65 c Less current expenses paid 48,929.89 21. Circulating notes outstanding 23. Amount due to national banks 25. Certified checks outstanding 26. Cashier's checks outstanding Total of Items 22, 23 24, 25 and 26 $32,417.29 Demand deposits (other than bank deposits) sub ject to Reserve (deposits payable within 30 days) : 27. Individual deposits subject to check 28. Certificates of deposit due In lean than 30 days (other than for money borrowed) , 29. State, county, or other municipal deposits secured by pledge of assets of thts bank or surety bond Total of demand deposits (other than hank deposits) subject to Reserve. Items 27 2S, 29, 30, 31. and 32 $1,412,062.23 Time deposits snbiect to Reserve (payable After 30 days, or subject to 30 days or more notice, and postal savings) : 33. Certificates of deposit (other than for money borrowed) . 53,090.40 35. Other time deposits 862,305.48 36. Postal savines deposits , 7 564.53 Total of time deposits subject to Reserve, Items 33, 34, 35 and 36 $922,960 41 100,000.00 100,000.00 18,020.76 31,000.00 10,372.32 159.80 21,885.17 877,425.23 37,283.84 497,353.16 Totnt $2,616,460.69 STATE OF ORKUON. County of Marion, ss: I. B. W. Hasard. Cashier of the above-named bank, do solemnly swear that the above statement Is true to the best ot my knowledge and belief. E. W. HAZARD, Cashier. CORRECT Attest: r, S. LAMPORT. ELEANOR ROGERS LAMPORT, TV V v.YRE. Directors, Sulnt-ribcd and sworn to before me this 6th day of January, 1925, XI l tmMVVn 'ntar Public. (SEAL) My Commission Expires Oct, 18, 1925. J You Can Find Them in The Capital Journal Classified Ads Capital Journal classified ads will save you unlimited trouble should you be seek ing a maid, a cook, a chauf feur, a bookkeeper, or any other experienced or unex perienced help, or if you .have anything to sell or trade or something you want to buy at a bargain. Into the great majority of the homes of Salem and environs, your advertise ment will go. And when you see the number and character of the replies, you will realize the advan tages of advertising in The Capital Journal
