'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
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