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About Capital journal. (Salem, Or.) 1919-1980 | View Entire Issue (March 3, 1930)
PAGE EIGHT - THE CAPITAL JOURNAL, SALEM, OREGON MONDAY, MARCH 3, 1930 5' LIVE POULTRY SHORTAGE FELT EGGS STEADY Portland (IP) Continued shortage Of live poultry at Portland Is causing more or less concern to killers and distributors here (or two opposing reasons. Chief of these appears the local shortage In the face of the lib eral stocks at other points. Another factor la that prices here, compara tively speaking, rae the highest In the country. Market generally for butter Is re flecting little change at any; of the leading points throughout the country. Local conditions are steady to easier In spots despite the re cent advance In undergrade. - Storage situation has been of considerable benefit to the egg mar ket. Steadiness is generally shown locally although receipts are liber ally Increased. With the storage season on, the trade here will soon begin to be complicated by weak stock. While there was considerable weakness toward the week-end at Wisconsin cheese centers, the mar ket at Tillamook, Coos Bay and along the coast generally, Is con sidered about steady. Increasing demand Is shown. There is a shortage of fresh sal mon here, a condition which is be ing complicated by the closing of the Columbia to commercial flshln for a period of two months. Small supplies of fresh halibut are or riv ing but the price is too high for general sale. First carload of Florida new po tatoes of the season Is here, an nounces the Pacific Fruit company. The previous supply was from Cuba. Priced 16 cents. There is a real shortage of as paragus here as a result of con tinued cold weather In California. Only nominal receipts are reported with sales advanced to 30 cents pound for best offerings. There appears a shortage of cab bc :e in all parts of the country and the western sections which usually have liberal stocks at this time, have little In sight. Texas reports sales there at $75 ton compared with $60 a week ago. Lemons are down 50 cent case again. No changes generally In oranges or grapefruit. Bananas are extremely scarce with a further advance of hk cent pound. Potato trade is generally easier at northwest sources. No change here. Walla Walla spinach Is scarce, firmer and higher. Balem around $150. Onion market shows considerable actlvltly at the source but down to $0 cents. Tomato market continues a trifle easy but general price Is held. Head lettuce Is steady for quality; others a trifle dull. SHIPMENTS OF CANNED FRUIT Heavy movements of canned fruit out of warehouses of local canner ies have been going on the past 10 davs or two weeks but mostly of fruit which has been held In storage on earlier orders and just going out for delivery now. Two main reasons for the large move ment has been the fact that In most Instances free storage Is given up to March 1 and also by a move ment In time shipments will beat out the assessor on his rounds. However, canned prunes have moved out rapidly the past few weeks because of an accelerated de mand and some large sales were made of them recently. However. It Is stated the market has calmed down on prunes the part few days. - Pears still remain the sore spot with canners and from what they say several shirts have already been lost In the pear game. It Is stated a recent spot list showed over 1G0. 000 cases of pears still unsold In storage. This list, made before the bis movement prior to the first of the month showed 700,000 cases In storage at that time In the north west but It was estimated around 400.000 cases moved out and Included In the quantity left was a heavy percentage of canned pears. Salem Markets Cumullcd lic:n reports ol Hnlf-m tlcalei. for the suulmu'e of Cnpll aljouriml lenders. rllevlMd dally) Wheat: No. t whit. 6'id red rWckeU) 050 fred onts 4tK; mill lug uais 4Bt, banry fr.li per ton. i Menu; Hush, tup RinUrs, 130-100 Um S11.10; lbs. 11.00; 2:10- aOO lb., 11. IU; USO-UN Iba. S100O; iuwi, saoo to W.25; cttle. top teer te.uiy IU to S1USO; cowi, 4 50 to ll 60; culla and cuiter 3 to 4 60. Hlietp. apiiDK lumba $10 00; bucks, au to no; old ewe M to SS. Culves: V fa If is, live weight. 125-175 lb, Slu-911; heavy and linns t7-tD. Dicabtd menu: Top veal 1! cents. Ho. 2 Kradt rouifii and heavy ISc and up: top hog 130-150 lbs. l&c; other Hiadcs 13c uown. Poultry Unlit to medium hen 10-lite lb ; heavy hens 22 cents per pound; brolleia. dprlmrs 20-22C, stag lie lb.; old tiKiteia 7c lb. KKKa' pulleta 17t-; freIi extras 90c; Buuvrfat 3c; prime butter 3y-40c; cube extras :;c; atandard cube 33c, UIHH t VM t; I'HU I M Presh (rult; Urnnties, uaveli t4 23 98 cane; lemons H 00. Dananns T,: apples; XK Jonatttana 2 7S; face-nil ftl.M); Kpltrenbertt 2 25-2.7ft; De licious Xe 2 75; Wliit aapa, wrapped and packed ai.78; Yellow Newlowna. 91.7ft, Cranberries M box. (iraprfrult, lsaa Q2&-97; California aft2a-aft.7S. Ithubarb SJ-S'J 75 20-lb. box. Fresh veitetablea: Tomatoea. Calif. 4 50 crate. Potatoes. Yakima 92 50-99. Lettuce, Imperial valley 92.75; celery, 95 50: Cabbnae 9' centa; breen M-miert 35c lb. Spinach 10c lb ; cau iriiwer 91 60; arllchofces 9100 doa. Hunched vr,:eublea: Uorea bunrh ltiriiiis Poc; parsley oc; carrota M)c; beeta OOc; onions 60c; radishes 90c; peas 16c lb ; cucumbers 93.50 dor, Ttiussels p routs 2oc. 8nked effetab:es: Onlona local 150; carrots 9.1; rutabugaa S'Vc; prtrlic 15c lb ; stiuash 3c; iurnlpa 9c; Daraiiipe 9c; yarns 7c lb. unoi MOIMIR Woolr medium Soc; coarae 97e per lb. lmbs woo. 25c; (all clip 27c. i Nfarly 1.000 tractor were placed On farma In South Africa In 1928. Gcrmanr has approximately 353, 000 pasatnger ftutomobUea, fee TODAY'S 1'OKTl.ASH l.lVESTOf'K Portland Jf Cattle and calvea: better tirade steers and she stock stea dy. Kecelpts cattle 2325; calves 279. including 78 cattle through. Hteers iioo-i3(K) ids. ni ao to v good 911 .50 to 912 25; medium 910 to 11.50: common 98 to 910. Heifers. 910 25 to 910.75; common to medium 97.50 to 910.25; cows, good 99 25 to 90.75; common to medium $0 50 to 99.25; low cutter to cutter 93.50 to 96.50. Bulls, yearlings excluded, 98 to 98.50; cutter to medium 96 50 to 98; Calves, milk fed. good to choice 911 to 9)3.50; medium 90 to 911; cull to common 97 to 90. Hokn. active killing classes isc high er than last week's close. Receipts 2500, Including 212 on contract. Heavy welirht 910 26 to 911-60: med ium weight 910.75 to 912; light weight Hi. SB to ai?; ngnt ngnia, siu .to u 912; packing sows, 99-5 to 910.26; slaughter pigs 910 60 to 911-50; feeder and stocker pigs 90-130 lbs. medium to choice 911 60 to 92 25. (Soft or oily hogs and roasting pigs excluded In , above quotations . Sheen ana lamrjs: -mining steaay Receipts 900, Including 243 on con tract. Lambs, good to choice 99.75 to 910.50: lambs, 84 lbs. to 92 lbs. 99.50 to 910.25; medium 99 to 99.75; all weight, common 97.50 to 99. Yearling wethers 96 60 to 98 50. Ewes, medium to choice aa to sa w): lio-mo ids. a to 99: all weights, cull and common 92 to 9. FORTl.ANi PROIM TE I Portland 4UP) The following pric es are effective Monday: Butter quo tations are fyr shipment from country creameries and 'a l0- 14 deducted as commission. Butter: cube extras 37c; standards i 36c; prime firsts 35c; firsts 32c. Eggs: Poultry producers prices:, fresh extras 26c; standards 23c; fresh mediums 24c. ' Butterfat: direct to snippers, xraca price 36c; No. 2 grade 30c; stations, Nrt l fl.le- No. 2 28c: Portland delivery prices. No. 1 butterfat 35c; No. 2. 31c. Milk, ouying prices: Kranc . w"o per cental Portland delivery and In spection. Cheese: selling price to retailers: Tillamook country triplet 25c; loaf 26c; Tillamook f ob. selling prlcse: Tillamook, country triplets 27c; loaf 2Bo. , J Live poultry: heavy nenw. coiorrn. over 4U lbs., 24c; heavy Ignorns 24c; 35 to 4 lbs. 22-23c; under 3'4 lbs 20-21c: broilers light 30-32c; col ored 22c; old roosters 12c; stags 16c. Urewtea poultry: iurr), mini toms. .tor: hens 27-28c; No. 2, 24c; capons Soc. Fresh fruit: oranges, navels 94 to 97.75: grapefruit. Texas 96.75 to 97.50; Florida, so ao io . t i.itll s-tn csrton 92 60: bananas 8-6'c lb. liemftns. Calif. 6-7 C:anbcrries, iae uiiwri, mw'" wr hnx: Cane Cod 93 bushel box; enstem 915 bnrrel. Cucumbers, hothouse, Colorndo. 3. 25" Oregon, standard 92.50-92 75 dzo. BriwrU sprout. Orenon 91 25 to d 4ft pench box. Tomatoes, local bot hoiiHP. 27'i to 30c; Mexican, 93 to 93.60 lug, repacked. onions, seiung pn u sets 6? to 0'c; Oregon 91 65 to J cental. , . . Fresh vegetables: selllnir price let tuce, Imperial valley. 92 53 to 92 75; pens 14-I5c lb. Spinach. Walla Walla. 91 50 for 20-lb. box; California 40s CeTJry,' Calif 91 40-91 75 dor ; 95 50 96 crate; Oregon hearts 9123 doa. bunched. , , Rhubarb, hothouse, extra fancy 92. fanry 91.75; iholce 91 25 per 20-lb. box Peppers, bell 26-27'c lb. Cauliflower. Roseburg broccoli 91 -60 to 91 65 per crate: California, 91 91 36 Table potatoes, peschules gems 93 10-93 25; Yaklmas 92 76-93 rwt.J western Oregon 92 25-92.50; new Flor ida l.flc ptund. . , Sweet potatoes, Crllf. nominal 6c lb; southern yams 93 25 crate. Country meals: selling price to re tailers: country killed hogs, best but rhera under 150 lb. 16c: veal. 75 to W lbs IB', -19c; lambs, 20-22c; heavy mutton 16c. roKTMM HKTMliK MARK1T Root veaelablcs continue very low priced on the Kst Side Farmers' mar ket, sales being made cown to 33 lug. Cabbage la firmly priced with nominal supplies. . Celery hearts are firm and active at 91 40 do bunchea. potatoes are stea dy Onions sold generally 91 sack but were fairly active at that Urcen onion are 30-36C dor bunch es' carrot. 30-35c dos. bunches. 35 40c lug, 75-B.'c sack; Beets, 40c do..; 60-75c lug. sacked stock 91 50 Turnips 35-6th- doa. binches. 80-flOe lug Onions, dry large. tuc to 91 sack. Cauliflower. No. 1. 91: No. 2. 65-.V. Apple, tumble pack 91 to 91.10: face and fill 91 10 to 9125. Hubbard squash, 91 crate. VI T HOP. WOOI, fOniBIIU ' " r r inns. ......... Inuta 22S-2ftc; Calif. 20-28c: peanuts. rlmon t '34-S5c; ftlbcrU 19-20c; pe- Hop. nnmlnsl 1029 crop P-tK lh. Wool 19'8 ctip. nomlnnl: Willam ette valley 28-33c; eastern Oregon 19 27',iC CM H ltHK Portland Caacara bara: steady. vRtKI HI IT-4. IIOP9 Wew York --Evaporated apples, steady; choice 124 to 13'c; fancy 14-15c. Prunes steady; Calif . 9 to 12c; Oregon 91. to 17c. Apricots steady: standard 13'i to 15c, choice 104 to 17c; axtra choice 18-20C. ' Copyright Prti Publlsblof Co Hi BOTTOM OUT ! MARKET QUOTATIONS Peaches, steady; standard 13'a to 14c; choice 14 to 15c; extra choice 14 to 15c. Hops steady. State, 1929, 18-20c; 1928 nominal. Pacific coast, 1920 15 18c; 1920 12-14C. SAN FRANCISCO POI I.TKY San Francisco P. S. M. N. S.) Net prices paid producers for live poultry delivered San Francisco: Hens, Leghorns, all sizes, 27 -28c lb. Broilers, Leghorns, under 15 lbs. per doz. 36 38c; 15 to 22 lbs.' per doz. 36-38C Fryers, colored, under 3 lbs. 31 -33c; Leghorns. up to 2',-i lbs. 34-37c; Roasters, youuc, 3 lbs. andp up 35-36c. SAN FRANCISCO APPI.FS San Francisco W (Fed. -State mar ket news service): Apples, boxes, Cal. Newtown Pippins 92.30-92.75; few 93; loose 91.90-92.15. Northwestern Rome Beauties, fey. 92.-92.25; 68s and larg er 92.50-92.75; C grade 91.76-092. De licious Ar S3.73-S4; icy. m w-J. Wtneftaps XF 92 75-93; fey. 92 60-92.-75; New low ns XF 935; fey 92.75-93. PORTLAND Nl (JAR: FI.OI'R Portland Cane sugar, sacked basis, steady. Cane, fruit or berry 95.15 per cwt. Beet sugar 95 cwt. Flour, city delivery prices: steady: family patents, 49s 97 40; whole wheat 98a, 97; Bakers bluestem patents, 08s 97; pastry Hour 49s 96-00. BAN FRANCISCO R1TTFRFAT San Francisco t) Butterfat I,o.b. San Francisco 39 and 39c. HAY MAHKKT Portland tfi Hoy. steady. Wtolc- sale prices, delivered Portland: east ern Oregon timothy. 922.50 to 923.60; do. valley 910 to 919.50; alfalfa 919 to 920: (lover 916; oat hay 916; atraw 97 to 98 ton; selling prices 91 to 92 more. MVF.Kt'OOI. HIIF.AT Liverpool UP) Wheat range, Mar. open, high 91. 12 3-8; low. close 91.- 1. May, open, high 91 17',: low. close 1.10'i. July, open 91.21U; high ui; iow, ciose si.ju. WINNIPKO Will AT Winnipeg lfp Wheat range. May open 9114; high 91 14',; low 91.12: clone 91.12. July. open, high 91.16- 3-8: low 91 13',: clos? 91.13 5-8. Oct. open 9116!,; high 91. 16!; low, close 91.14. PORTI.AMl WIIFXT Portland tJ"1 Wheat futures; Mar. all trading 91 08; May, open, high 91.1214: low. close 91-10. July, open, high 91 12': low, close 91 09V Sept- open, high 91 12'-: low. close 9 09 V 1 tun wneai: tiig iirna tnucniem. hard white 91 19',; soft, white, west ern white 91.08'-,: hard winter, nor- inern spring, western red si.07',j. OaU. No. 2 ail-lb. while 933. Today's car receipts: wheat 104. bar ley 1, flour 29, oats 4. hay 4. CHICAGO (.RAIN Chlcr.go Whent futures: March open 91-09'i to 5-8; high 91.101,; mw pi.oh'b; close si.ua a-o. May, open 91.14'.; high 91 14",; low SI li',; tloso 91.13'. to 3-8. July, open 91.-ll- to 91.12; high 91.12?,; low 91. 0U',; clow 9110',. Sept., oiwn 91. l.TJ4 to 9114'4; high 91.14',; low, 91 11'4; close 91.114 to Cash, grain: wheat No. 2 hard 91. 09',; No. 6 hard 95c. Corn, No. 6 mixed 72c: No. 5 white 76c. Oats. No. 3 white 43jc; No. white 42,c. Rye, no sales. Barley, quotable range 61) to 6c. Timothy seed. 95.40 to 96.35. Clover seed 910 to 917 50. CIIICAtiO KSTOCK Chicago ! (U. 8. D. A.I Hogs, receipts 45.000. Including 12.000 di rect. Top 911 40; butchers, medium to choice 9985 to 911-40; packing sows 98 50 to 99 65. Cattle receipU 12.000: Selves 2500: slaughter clanses. steers, good and choice 912 90 to 915 75; fed yearlings, good and choice 912 76 to 915.75; veal era, milk fed. good and choice 99 75 to 914. Sheep, receipta 21.000. Early bulk light lambs 910.25 to 910.75; top to outsiders 91125; lambs, good and choice 910 to 911 25. Ewes, medium to choice 98.75 to 910 75; feeder lambs, good and choice 99 25 to 910 25. ASKS HOOVER TO ACTJWJOBLESS Continued from page 1) fully 15 per cent In the same lew months. "Accordliid to dnta assembled In 40 cities, 19 per cent of the union members were idle to January. Sec retary Lamont report that the amount of building contracts award ed In January. 1W0. were 998.000.000 below that of January. 1929, In spite ol the president s conference, "The5 are challenging facts. They demand an answer. What answer does the administration offer? l lay In the tarill hits buMneas. This story emanated from ths White House and was featured in almost every newspaper In the country on the ith ol February. I would spend little time on such artificial at tempts at myth makinj II they were harmless, but they are not harmless because they divert attention Irom the real, substantial and permanent cause ol unemployment cause i ""'fir pan (Ntif York WorltU 133Q which can and ought to be eradi cated.' President Hoover and Coolldge, Wagner said, had unemployment without the Intervention ol a tariff debate, Wagner charged the labor depart ment was without adequate statis tics on the situation and demanded to know why attempts were not made to obtain them. He also charged political manipu lation in order that the country may be led to believe "the president has means of knowing how many men are unemployed at a particular time and has precise methods of deter mining from day to day the level of unemployment, when as a matter of fact, he has neither the figures nor the meana of securing them." He quoted from President Hoo ver's campaign speeches to show the need of such statistics and said the administration had not taken the first step towards procuring them. "The republican party was in capable," said the New York sena tor, "of writing a tariff bill that would meet with the approval of Its own members. The republican leadership In congress was incap able of bringing about a redemption of the party pledge. "When this breakdown occurred in the republican party the presi dent did not come forward and ex ercise the leadership which was the prerogative of his office. He did not take hold of. the reins of party direction and guide a united party back to the performance of its cam paign pledges. "Instead he was undecided; he was undetermined; he vacillated; he permitted the west to believe that he was counted among the insur gents, while in the east he gave comfort to the old guard. Mean while he drifted and permitted every tide and every wind of popular fancy to shift his course; and when a dangerous shoal was in sight that intrepid captain gave the gallant command, 'Come, let us have break fast together.' " Senator Wagner recalled Mr. Hoovers own suggestions for leg islation to meet unemployment dif ficulties and asked "what has become- ol that program?-' "We have none of this 'funda mental information." he concluded. "We have no stabilization machin ery. We have no system of em ployment exchanges. And we have heard nothing further from the president In regard thereto." As Senator Wagner concluded his speech on unemployment. Senator Fcss, republican, Ohio, announced he would reply Tuesday. 1MT0 SAVE $500,000 (Cont;.-.ued f.-om pace 1) of nine dirrctors Is provided. The eight directors of th? departments, together with a representative of the department of education, would meet with the governor as his cabinet. To give an idea of the system which the new plan would supplant the report says: "At present the executive and ad ministrative W. in ions of govern ment are per.V"med by 74 different officers, ' boards and commissions. Then In addition we have 17 state Institutions, each of which, with Its administrative staffs, virtually con stitutes a department In itself. Add ed to these we have 18 organizations or societies receiving state aid, but which, to all Intrnts and purposes, are entirely independent of govern mental supervision or control, mak ing 107 distinct agencies In all. ' By the terms of the amendment, all administrative offices, boards and commissions, except the offices of governor, secretary of state and state treasurer, are abolished, effec tive July 1. 1931. All their powers and duties shall then be transferred to the nine departments cet up by the amendment. The state in? tit u tlons likewise will pas under the control of one or another of the de partments where they shall receive specialized iip?rvtston. An import ant step In this direction was taken by the legislature during the last sewion when it abolished the four boards controlling th? institutions of higher education and transferred their powers and duties to the state board of hish:r ttfuratkm. STOCK MARKET LOWER, GAINS UPON REACTION New York(lP) Weakness in United States Steel, a decline In wheat, new lows for silver, further drops in cot- Jon futures all of these bearish fac tors had their part Monday In caus ing marked Irregularity in the issues on the stock and curb exchanges. Bulls tried various expedients to prevent a decline. For a time they bid up rairoad shares with New York Central the best gainer. Then the utilities were whirled up, several making new hrths for the year. To ward the close, the oils were carried to higher ground, featured by Hous ton, . wliich, spur led more than 7 points. Practically the entire oil list was up from fractions to more than a point, the most consistently strong showing the group has made in weeks. Oils had in tneir xavor, a marked reduction In crude produc tion in California. Best gains, aside from Houston, were made by At lantic Refining, Standard of New Jersey, General Asphalt, Barnsdall, and Union Oil of CalSOraia. Trading was active with sales to 2:10 amounting to 2.855,000 shares, compared with 2 J 59 ,100 in the same period on Friday. While the oils were rising selling went ahead in individual Industrial stocks. Steel was about 3 points un der the previous close and losses ranging from fractions to more than a point were noted in General Mo tors, Warner Brothers Pictures, Ra dio Corporation, Westinghouse Elec tric, American Can, Fox Film "A," and American Telephone. The latter made a new high for the year earlier in the day. Montgomery Ward held gains well as shorts were driven to cover. To baccos, some of the special issues, and a few ol the motor shares, were firm. Kroger Grocery spurted four points. Towards the close American and Foreign Power regained part ol an earlier decline and other utilities were better though still irregular. American Power and Light rose nearly 5 points. LIVESLEY REPORTS ON CANADIAN HOPS While the 600 acres he has In hops In British Columbia near Vancouver are all under contract and as a re sult cannot be disturbed this year, T. A. Livesley, who returned with Mrs. Livesley Irom Vancouver Sun day, states that he Is not so certain what the Horst company will do up there. That company has 300 acres and it is possible some of them may come out or all of them, said the mayor. It Is still too wet to get into the hops up there and with good weath er it will probably be 10 days before the land can be opened up," he stat ed. "Weather conditions were Ideal while we were up there and the land drylnr out good. There Isn't much more to say about conditions, other than that the hops look now as though they should do well In British Columbia the coming year." DEALERS ASK CURB UPON UTILITIES (Continued from pace 1) the supplies and merchandise of other merchants nnd jobbers siinilarlv situated." It is the contention of the peti tioners that section 6040, Oregon Laws, requires the public service commission to compel utilitiy com panies to render "separate, and complete uniform account of all merchandising and Jobbing sales covering business other than slrictiy public utility service" and that tlie commission has failed to require such segregated accounting. T.ie alleged practice of utility companies maintaining appliance sales departments- and charging the expenses of such departments to general operating expenses Is characterized In the p?tition as "a comingling nnd a confusion of ac tivities which does violence to the real Fpirit of the laws regulating public utllties, end a practice which produces false and exaggerated conditions resulting fn a visciom detruction of mercantile competi tion, and affects-the cost of service to the general public. i-unner, tne petition sew forth that the present method of asses- sin gthe merchandise stocks ol utility companies Is In violation of the "Bill of Rights'; and other sec tions of the state' constitution in prescribe the levying and collection of taxes uniform in the some class that if "rioe lipithfM- nirmlr nnr inor uniformly throughout the state and reiea.ses the said merchandise from direct taxes of municipalities." Independent appliance dealers af f Hinted with the Oregon Merchants Utility Bureau charge that the util ity companies arc enabled, by be ing permitted to charge rales costs to general operating expenses to ge paid out of service revenues, to undersell them and to offer install ment payment plans beyond the reach of independent dealers. Un der such an arrangement, it is fur ther asserted, losses sustained by the utility companies on appliance sales are funded out of operating revenues. In a statement to the Capital Journal W. M. HemtHon. disfict Tune in on K.V.Eo P. TONIGHT 1300 Kilocycles firm 11 r. M. lo 1 A. M. And hear Bob Duncan tell the truth about Chain Stores manager for the Portland Electric Power company In the Willamette velley, defends the practice of his company In charging appliance sales costs to operating expenses as being a proper expenditure In stimulating the consumption of power, thereby lessening the per unit cost of service to the nubile and preventing In creases In rates which, he says, could not otherwise have been avoided In the face of rising costs of labor a)id materials entering Into the produc tion and distribution of electricity. FEDERAL BOARD STOPS BUYING; WHEAT LOWER Chicago (LP) A bearish construc tion on the farm board decision to discontinue buying at Its fixed price level by both domestic and foreign markets, sent wheat prices tumbling on the board of trade Monday. The greatest drop was in the new crop months, those months being rela tively much weaker than March and May. Local professionals sold ag gressively and while the farm board agencies seemingly lent their sup port at the times the rallies were few and weak. Corn was sharply lower while oats were also affected by wheat. At the close wheat was 2 to 4 3 -8c lower; com was 1 to 3 3-8c lower and oats 5-8 to l' lower. Provisions were steady. Chicago fP) Wheat prices under went a decided drop early Monday, largely because farm board allies had ceased to buy country run wheat at the board's loan basis. A bullish showing made by unofficial esti mates issued Monday regarding farm reserve stocks appeared to have been discounted in advance. Opening 1-3-8 to 2?i cents olwer, Chicago wheat afterward fluctuated nervous ly, but rallies failed to hold well. Corn and oats were also weaker, with corn starting fe to 9 cents off, and subsequently keeping near the Initial range. Provisions were firm. BELL TELEPHONE IN . 4 BILLION CLASS New York (LP The Bell Telephone system reached the four billion dol lar class Monday. Its assets as of December 31. 1S29, were $4,228,430, 088 as compared with $3,626,683,534 at the end of 1928, making this the first time in American financial' his tory that any company has touched the lour billion mark in assets. The Bell assets were set forth In the annual report of the American Telephone and Telegraph company issued Monday. American Telephone set a new record in earnings in 1929 with net income of $166,189,757.72, against $143,170.4903 In 1928. After deducting dividends the 1929 n?t was equivalent to $12.67 a share on 13,113,746 shares of stock out standing against $12.11 a share on 11,823.745 shares outstanding at the end of 1928. JAPAN NEARING PARITY AGREEMENT (Continued from page 1) the Japanese ex Lending two or three weeks are said to have resulted In a complete deadlock. The British are being kept informed of the progress of the American-Japanese conversations. Meanwhile the experts' commit tee which has been considering the class! ligation of special ships has reached an agreement and its report has gone to the printers. Tuesday th? heads of the various delegations will meet at St. James' palace to consider Uic report of the experts committee on the French category scheme. The delegations hope that Ambassador Fleuriau will have instructions Irom Paris which will enable him to represent his country at this meeting. If these instructions do not arrive it prob ably will be necessary to adjourn consideration of the proposals until the French delegates return. Another question which Is de nendent on the French return Is ithat of humanlzation of submar ines. The other four delegations have gone as far as they can In pre paring a draft treaty without the presence of the French. Thin, Sickly People Gain Health Quick Perhaps you're not sick, but you know that more strength, energy and ambition wouldn't do you any harm. You don't need drugs but you do need Vitamins A and D extract from Vitamin tested Cod Liver Oil and that's Just what you get in the new and improved McCoy's Cod Liver Oil Extract Tablets no drugs health building vitamins only. Two sugar-coated tablets equal one teaspoonful of Vitamin tested Cod Liver Oil and for every ail ment, rundown or underweight condition for which Cod Liver Oil Is prescribed. McCoys Cod Liver Oil Extract Tablets are equally as good. If this was not true we would not be permitted to make this statement 30 tablets, 60 cents, at any drug store in America. adr. PETITION FOR REFERENDUM ON PROHIBITION Tor the purpose of puttlnj the prohibition question before the peo ple of the country. Charles C. Frank lin, a representative 01 ine national Prohibition Referendum association, a San Francisco corporation, was In Salem Monday, making preliminary plans to get petitions before the vot ers of Marlon and Linn counties. The plan of the association, which I win ue put oeiore uio vulci every state ol the Union, is simple. Representatives of the referendum association will be sent into every state. They will select district Pe tition circulators. When the coun try has been thoroughly and system atically worked, the petitions will be sent to the San Francisco head quarters from whence they will be forwarded to Washington for action by congress. Frankun stated Monday that the work would take nearly 18 months and that the backers of the as sociation hoped to have the people of the United States vote on the prohibition question In the fall election ol 1932. Sixty-five thousand names have been secured in California, Frank lin states, while 162.200 signatures have been secured throuyhout the nation since January 8 cf this year. Although but six counties have been organized in Oregon. Franklin states he hopes to get men working throughout the entire state within a short time. Franklin will seek an audience with Governor Norblad Tuesday morning and will be at the Central hotel after 6 p. m. Monday to answer any questions. He states that local people will be used in circulating the petitions and that so far 78 per cent of tlie people approached have signed. COUNCIL FACED BY VARIETYOF ISSUES f Continued from page 1) system to the people. Th? bank ers had not indicated whether they would consent to serve. As far as placing the question of purchase of the water plant on the ballot May 16. the date of the pri mary elections, that is believed to be out of the question now, since a two-thirds vote of the council would be necessary. Under the O'Hara resolution of the meeting two weeks ago the two council committees and the city attorney, with the commutes of bankers acting In an advisory way with out vote, were Instructed to prepare an ordinance to submit to the peo ple tlie proposed purchase by agreement or condemnation of the water system. It was believed this could be put on the ballot in May. This has practically been aband oned. The reason is that when the question of purchase goes before the people it must be accompanied by a plan of purchase and a pro posed issue of bonds. The com mittees feel that it wouldn't be good business to go to the expanse of making a survey of the value of the plant with the possibility that the people might reject the pro posal, In which case the cost of the survey would have gone for naught. In lieu of this the committees are considerng a referendum to the people ol tho simple question whether they want the city to buy the water plant. This referendum could be called for by a majority vote of tlie council. The result would not be binding on the coun cil, but Jt would feel, if the people voted favorably, that it could safe ly go to the expense of making the survey. With that done it would Tin i M ALL h vv 12'20 12-20 and 20-30 SIZES Farm and Orchard Models America's Foremost Tractor. B.iiit by experi enced engineers. Maximum power, iitrrit weight, short turning radius . . Simplicity. All steel boil er plate frame. 10Ko timl;cn bearings, doubla geared main drive. A certificate with each trac tor. Has all the newest features. Write for cat alog and when you see it you will want us to dem onstrate it to you FREE. Just ask for it we'll be there Feenaughty Machinery Co. 324 BELMONT STREET PORTLAND, OREGON then, if a two-thirds vote could ba mustered, refer, a definite purehas proposal to the people la Norem ber. The Bollywood people, however, are for quicker action and are stu dying, through a committee the legal angles pertaining to getting the matter on the ballot by Initia tive petition. Alderman Vandevort, who has re fused, as chairman of the sewer commute, to approve a bill sent la by A. H. Moore, for four manholes covers purchased from Alderman Rosebraugh, says be will continue) to refuse his approval. He is stand ing on the legal provision that: ' council member cannot sell anything to the city, and contends that Moors simply was selling in behalf of Rose braugh. Vandevort intends to ex pose the affair Monday night, and whether Moore's bill is approved will depend on the action of the coun cil. The sewer bonds offered for sale arc intended to meet the cost of the South Salem sewer construction, plans for which have been author ized by the council. The amount offered is $70,000. Relative to the fire alarm sys tem, which Alderman Dancy and his fire and water committee, in tend to purchase out of the 2-mill levy for fire department improve ment, the Hollywood Community club has taken the stand that th system is not necessary and that the expenditure would be extrava gant, A committee consisting of W. H. Henderson, J. H. Vicary and D. F. Eastburn, has prepared ft protest that will go before the coun cil Monday night. The pretest says it Is admitted that the system will cost about $95, 000, and that tho cost of mainen ancc will be several thousand dol lars yearly. Thi3 expenditure. It contends, was not contemplated by the people when they voted the 2 mlll levy. The argument that lire insurance companies will reduce the rates In Salem 2'4 per cent, the Hollywood people say, docs not figure out ad vantageously. The reduction would be so small, they say, that It would not be noticed. The protest declares that tele phone service furnishes adequate fire alarm facilities. It is declar ed that-in cities that have had well established systems for years 90 per cent of the alarms are sent In by telephone. The Hollywood club believes the money should be cxp?ndcd on com pletion of the sub-stations of the fire department and in paying bet ter salaries to firemen. They say the fire and water committee ad mits that if tlie alarm system Is installed it will cause postponement, at least for a year, of the South Salem station. One objection to r.n alarm box system is that it is impossible to give the exact location of a fire, while this can be done by tele phone. v As a parting shot the committee says: . "As nearly as cm be learned the company which manufactures and sells these alarm box systems la controlled by the telephone com pany. This committee does not be lieve that tne citizens oi baiem ie that they owe the telephone com pany a $100,000 bonus at this time,' SHEEP SHEARERS FIX WAGE SCALE Pendleton. Ore., 'if Pilty sheep shearers from Pacific coast state and Canada, meeting here Satur day, passed a resolution asking tat a wane of 15 cents for every sheen sheared, and board for the shear er. A similar demand v:c made last year. Reasons for the demand were sold to be higher expenses, more hiahly bred shrcp harder to .'hear, nnd rhnrttr ob3. TRACTOR v.