10
BUTTER PRICES
ALONG COAST
Portland, Ore., March 20 (LP
Butter prices were weak today.
Euk market prices appear better
In spots here because of the in
crraMntF call lor storage account.
The advance In the selling price
of standards and mediums by the
Co-ops suggested tills.
Cht-e.se market is showing a loss
of 1-cent a pound here.
Western Washington Is wrecking
the local litfht hen market by flood
In? the trade here with more than
it requirement. Heavy hens and
broilers are In call and at full
prices.
Extreme shortage of broccoli or
winter cauliflower Is shown here
with resulting further streiurthtn
hig of the price situation for 2s with
few rial is available.
Aged lambs, wethers and ewes
are not so firm for country killed
along the wholesale way with some
shading of prices except for year
ling lambs. Spring lambs are weak
er to lower and not In active call.
Much additional weakness Is re
flected for old potatoes as the sea
son moves on. There is practically
no speculative Interest in the coun
try and many pits are still unopen
ed. Hothouse cucumbers are in quite
fair demand around $1.25 for fancy.
Citrus fruits are being held firm
er as a result of labor troubles.
Celery market Is firmer for qual
ity. Good lettuce remains firm.
Dry onions are slow here with
most sales of 2s.
New potatoes are held steady to
firmer.
Asparagus is a trifle easier In
spots.
Country killed hogs and calves are
steady.
CODE SIGNED
FOR EXCHANGES
Washington, March 20 (JPi Sec
ftary Wallace today signed the
code of fair competition for the
grain exchanges.
It provides a code authority of
seven members for enforcement
duties, establishes a uniform trade
practice which Include wage min
imum margin requirements, fixes
the fluctuation range per bushel in
grain prices and provides for es
tablishment of a business conduct
committee for each exchange.
The code also provides that re
ports, regulations, and rules pro
vided by the grain futures act shall
not be dLspeased with.
Exchanges and members of clear
ing houses will be required to make
reports at the request of the secre
tary of agriculture on their opera
tions as they concern consumers,
competitors, employes, and others.
nils Is required to determine to
what extent the declared policy of
the agricultural adjustment act is
being accomplished under the code.
The document provides that it
shall not be so applied as to per
mit monopolies or discriminate
against small enterprises.
FOOLING PLAN
FOR SURPLUS MILK
Portland, March 20 W) A pool
ing plan for handling surplus grade
"B" milk In the Eugene mllkshcd
will be discussed at a meeting in
Eugene on Thursday of the Oregon
milk control board and grade "B"
producers.
Producers in the Eugene area re
quested the meeting, according to
E. O. Harlan, chairman of the con
trol board.
Meanwhile, in Portland, the city
was ordered to show cause today
why a temporary injunction should
not be granted prohibiting the city
from degrading milk of dairy farm
ers. H. E. Kiger yesterday peti
tioned for the Injunction on the
grounds the city has no right to
degrade milk without submitting
the propasal to a board of arbitra
tion as provided by a law adopted
at the special legislative session.
-ml intuition of
City Manager Plan
Pm page One
the voters."
Hie necessary ordinance to put
the clly mnnnir proposal on the
May ballot were withheld by the
committee last night becniy-c of the
absence of three members, which
made approval of the measures
doubtful. Unless they are passed
at the next regular meeting. April
2. they cannot lepally be given a
place on the ballot for May 18. To
day Mayor McKay said that every'
effort will be made to have all of
the aldermen present at the next
meeting and that win or lose the
ordinance will be pulled out ol com
mittee and put to a vote.
An informal canvass of the coun
cil reveals a close division on the
question of referring the plan to
the people, said the mayor, the
members being listed as follows:
For submission Kulin, Puhrer.
Boatrlght. Armprttst, Townscnd and
Hendricks.
Against submission Da ue, Hen
derson, O'Hara, Vandevort, Olson,
and Hughes.
Doubtful Wilkinson and Need
ham. If the plan Is submitted to the
Toters in May and approved the
new council and other officers to be
elected under it can be elected in
November without the expense of
a special election. But if the mea
sure Is kept off tlie ballot until No
vember and Is then approvrd it will
be necessary to hold special elec
tion for the selection of these offi
cers, or delay application of the new
system until after the regular spring
election in 1030.
Bola Mrs. Earl Tldtf was taken
to a hospital In SaiJb Sunday,
seriously ill.
NEW YORK STOCKS
Closing Quotations
Alaka Juneau 20,
AUika Chemical ie Dye 150
American Can 97
American Commercial Alcohol ....SI
American & f'ort'lKii Power ... 10' 4
American Power & Light 91,
American Smelt. 6t lU?f 2--,
A. T. it T 1 1H,
American Tobacco B 6a1,
Anaconda 14 1 ,
Atciiisort 66
Atlfiiitlc Hef 30',
bemtix Aviation 1BJ,
lieUilehein Steel 2
Burroughs AiMinit .Machine 15
California Pack IM
J. I. Ciise 70
CatcrpUlur Tractor Jitt1,
Chrvbler 52'4
Commercial Solvent 2" 1 .
Continental Can 77
Corn Prod nets 71'
CuiUsb Wright
l)u Pont ' DO
Easlman 8D
(leneral Electric 21"
fieneral F;cds XI' 3
General Motors 37'B
(iolti Dust 19 H
Homebt.ilce Mining
International Harvester 41s.
International Nick 2G
I T . & T 14 i,
Johns Man 56
Kennecolt 1H
Llbbey-O-Ford 36-1,
MARKET QUOTATIONS
POKTI.ANl EVST.SIliE MMtKfcT
Portland. March 20 (U-ft There con
tinued a very strong tone for cauli
flower during the Tuesday session of
the farmers' wholesale market but
prices were practically unchanged.
Demand lor cabbage wtui una witn
most Bales 50c crate, few 6-10c more.
Sumach market well supplied again
and without price change Most sales
ol Kreen onions 15c doz. bunches.
Kliubarb held 60 -65c for 15-lbs., or
field grown. All root vegetables con
tinued in active call, especially car
rots. (leneral prices ruled:
Asparagus Mld-Columbla 6c lb.
$2.40 pyramid.
Beets Local 15-17,c doz. bunches.
Carrots New local 20c, old 15c doz.
bunches, lugs 20c.
Turnips Local white 15c. purple
top 15-17'jC doz. bunches, lugs 20-25.
Rutabagas No. 1 25c lug, ordinary
22 'v -25c lug.
Potatoes Deschutes $160; Ynklma
No. 1 il.50. No. 2 tl.10: local No. 1
SI. 15-25 cental, 75c orange box.
Cabbape Local 60-65c crnte, red
40c cantaloupe crate, Chinese 70-75c.
Celery Local spring 25-aoc, wlpter
10c doz. bunches.
Onion's Circe n 25-30C doz. bunches.
Dry: Oregon No. 1 1.15, No. 2 OOc-il
Brussels sprouts No, 1 65-75c box.
65-75c crate.
Apples Local Jumble pack 4 5-60c
box. face and fill 75-H5c.
Spinach Local 50-60c oranite box.
Cauliflower-broccoli, local uoc-si a
Crate, No. 3 65-75c crate.
Khubarb outdoor grown 0a-UC
16-lb. box, 30c doz. bunches.
PORTLAND WHOLESALE
Portland. March 20 WP These are
prices retailers pay wholesalers, except
where otherwise stated:
Butter Extras, standards 35 'Ac lb.
Butterfat Portland delivery: Grade
A 23-24c, Farmer's door delivery
20-2 ic lb.
Cheese Selllnn price to Portland
retailers: Tillamook triplets 16 c loaf
17c lb Tillamook selling prices to
wholeBalers: Triplets 14c. louf 15c lb
Coqullle triplets to retailers 14c, loaf
15c lb. SwIks wheels 23c lb.
Etrgs Buying prices of wholesalers:
Fresh extras ltic, firsts 14c, mediums
14c. pullets 12c, undergrade 10c doz.
Milk Contract price, 4.. Portland
delivery SI. 05 cwt. B grade cream
37'i(C lb.
Live poultry Portland delivery,
buying prices Colored fowls under b
lbs 14c, over 5'a lbn. lac, pullets 2
i'A lbs. 13-14C iu Leghorn fowls over
3 lbs. 10-llc, under 3 lbs. lu-llc,
broilers l'i-2 lbs. 17c over 2 lbs. 14-!
l(ie, stas 6c, roosters 6c. Selling prices I
by wholesalers: Light hens 10 'a -11c,
medium liens lO'j-llc, heavy colored
heus 14c lb. Pekin ducks 12c, colored 1
10c lb. Geese 10c lb. I
Turkeys Selling prices: Dressed1
dry pic ked young toms 14 lbs. down !
18c, hens a IDs. up 17c lb. Old toms
12-13t- lb. Selling prices: No. 1 toms
lac, No. 1 hens 18-ltic lb.
HU Ml Kit! IT
Strawberries Nominal.
Grantees Calif, navels, fancy 13.50- I
335; choice 2.10-:. 1
Cranberries Northwest, McParlane
and Howes St 50-60 oer i bbl. East
ern late Howes 1 60 '4 bbl.
(trapeiruit imperial vauey ai.wu
$2.35 case; Florida Sil.75 case.
Limes Box or 100. SI, 15-25.
Lemons Calif. (5.25-75 case.
Baiiunas Hunrhes be, hands 6'4,C.
IKLSII VMiLTAHI.K.S
Asnarauus Sacramento-Stockton
5-7c lb.
New potatoes Florida Triumphs
12 50-60 per 50 lbs. 7c lb. Hawaii
1 (55-75 per 21-lb. box.
reppers caiuornia aoc id.
Broccoli Local and Hosebura No. 1
1-1 25 per crate; No. 2 75c.
cucumbers Slicing. Hothouse, lo
cal !H)c-1.75 doyen
Spinach Ijocal 00-65C orange box.
On mntt- Yakima 1.40-50; Oregon
1 40-50.
Peas California e-ec ID.
RhubarbHothouse fey. 85r. choice
50c; firld grown 65-70C 15-lb. box.
Sweet potatoes California 1 1.70-75
crate; yams 2-$2 15 per bushel.
Celery California t-H25; hearts
l.tii-25 di7, bunches.
Cabbage Red 4c lb. Local 00-70c
crate.
U'tturr Imperial $2 50-78 crate.
Tomatoes Hothouse 20-27',ac lb.
Mexican 3 65-75 lug repacked.
Potatoes lineal white and red 1 15
to II 25 cental: Yakima (1 35-40; Dea
ehules il 45-50. bakers $1.6a-70.
Ml- ITS AND PROVISIONS
Country meats Silling prices to
retailers. Count rv killed hops, best
butchers under 50 lbs. 0-!lac lb Veal
ers yii-100 lbs. ll-ll'3c tb.. llht-thln
Cl-Pe lb. Heavy calves 5-6e lb. Year
lhiK lambs 15c. sprnig lambs 19-20C,
rwes 4-7c lb. Canner cows 2ll-3,?c lb.
Uiills 5i3-6c lb
U-r lartl Tierce basis SC lb.
Itaion Pnnrv 22-2:ic lb.
Ham Fey IR' .e lb . picnic 12c.
HOI'S, H OOI.
Hops 1M4 clusters 24-We lb.
Wool lii;i4 clip iiomnuil. Willam
ette valley 20-25c, easier n Oregon 25
26c lb.
PKlMl(i: LXI IIAM1E
Portland. Mar. 20 oj p The follow
ing prices weie named to be effective
today :
Butter Cube extras 23'ic. stand
ards 23'ac, prime firsts 23,1c, firsts
22.c lb.
Cneese 92 score. Oregon triplets
12c. loaf 13c lb Brokers pay Sc less.
Exgs Pacific Poultry Producers'
selling prices: Fresh extras 15c. stand
ards 13r, mediums 13c doz. Cartons
lc higher.
PORTLAND 9CC1AR, FI.Ot'R
Portland. Mar. 20 I'll Cane sugar,
granulated 4 55; fruit or berry 94.75;
beet sugar $4 45 cwt.
Domestic flour Selling prices mill
drllvery 35-bbl lots: Patent 4s 16 10
SflHO; blendel H 15-W.70; bluestem
96 30-96 40; soft white pastry 95 8(1;
whole wheat 95 30-60; rye 5 60-90.10;
graham 9530-50.
PORTLAND I.IVKSTOCK
Portland. March 30 Cattle 100.
calves 35. Steady.
Steers, good, common and medium
93 65-96 00; heifers, common-medium
93 25-95 25. Cows, food, common and
medium 93-94 50; low cutter snd cut
ter 91 50-93 Bulls, cutter, common.
medium 92 90-93 J6 Veslers. good and
choice 96 50-96. cull, common, med
ium 93-96 50, calves, good and choice
by Associated Press
Liggett Ac Myers B 8ft';
Liquid Curb. lit 'Jllt
Montgomery Ward j .... a 1
Nash Motors jjjpl
National Blbcutt 4J-.
National Dairy Products 1j'4
National Distiller
Pacific 0s t Electric ly-.,
Packard 6',
J. C. Penney '.' 64
Pcnn K. K 34
PhllllpH Petroleum 17-,
Public Service N. J aa
Pullman 55
Scars Itoebuck 47.
Shell Union 10 ;
Southern Pacific 27
Standard Brands 21
Standard Oil ol Cailforn.a 3t3'4
Standard Oil ol New Juscy
Studebaker 7'i
Trans-America 6 'J,
Union Curb 43
Union Paclnc 125 J4
United Aircraft 211 ,
United Corporation .6',
U, S. Industrial Alcohol 54',
United States Rubber 19
United States Steel 51 1 i
Western Electric At Mfg 37
Wool worth 50 a
1 osiMi emu m oT.vriosH
Cities Service 3
Electric Bond it Share !'
Swift St Co 102'
$6-96; common-medium 93.50-95.
Hogs 100. Steady.'
Lightweight, good and choice 93 75
94 50; medium wt good-choice 94.00
94.50; heavyweight, good-choice 93.65
94.15; packing sows, good 92 85-93 50.
feeder and stocker pigs, good-choice
93.25-93.75.
Sheep 600. Choice wool lamb 10-16
cents lower.
Lambs, good-choice 98-99 00, com
mon, medium 96-98 25. yearling we
thers 95-97. Ewes, good-choice 93.50
94.50, common-medium 92-93.75.
PORTLAND IVHLAT
Portland, March 20 M'j Wheat fu
tures: open high low close
May 72',; 72 4 72' 72 V,
July 721,2 72 72 14 72 'J
Cash: Big Bend Bluestem 73', dark
hard winter. 12 78, 11 73; soft
white, western white, hard winter,
northern spring, western red 71 'i.
Oats, No. 2 white 920.50. Corn No. 3
yellow 923.25. Mlllrun standard 913.
Car receipts: Wheat 138, flour 5,
barley 3, corn 3, oats 1.
EXPORT WHEAT
Portland, Mar. 20 i The emergen
cy export corporation remained out
of the market for soft white wheat
for foreign shipment today. A week
ago the quotation was 78c bushel.
CHICAGO LIVESTOCK
Chlcngo, March 20 (US.D A.)
Hogs 20.000: slow, 10c lower. Top
94.50; 180-240 lbs 94.40-50; sows
93.60-75.
Cattle 8000; strictly good-choice
fed steers and yearlings steady, top
97.60. bulk 90.75-97.40: beef cows and
weighty butcher heifers steady, cut
ter cows weak to 10c lower, all year
ling heifers unevenly weak to 25c off.
Bulls slow, steady with 93 40 outside
on weighty sausage offerings. Venters
unchanged at 95 50-96.
Sheep 13.000; fnt lambs slow, un
dertone weak to 25c or more lower.
Wooled lambs 99-9D 25: Indications
steady on fat ewes 94-5 50,
HOSTON WOOL
Boston, March 20 IU.R) Wool buyers
fall to support the market with pur
chases and despite Inquiries which
usually result In business there Is
very little activity. So little Is being
sold In fact, that prices are unetitab
llshed and purely nominal. They are
held In the previous brackets merely
as a nominal market quotation. The
occasional sales of small lota which
develop are- usually In the ranges
previously quoted.
CHICAGO GRAIN
Chicago. March 20 m Wheat: No.
1 hard 89 li; No. 4 mixed 84.
Oats. No. 2 white 35-35V
Corn: No. 3 mixed 48',: No. S yel
low 49-49' j : No. 3 61 14 -52. Old corn:
No 3 yellow 49'i-50'-j: whit 52',.
Bailey 60-81. Timothy seed 97.25-50
cwt. Clover seed 911-W 25 cwt.
Lord, tierces 96.22. loose 90 .20. Bel
lies 98.
SAN FRANCISCO BI'TTERFAT
Ban Francisco. Mar 20 m) Butter
fat f.o.b. San Francisco 25c lb.
BAN FRANCISCO DAIHY
San Francisco, Mar. 20 njpjButter.
02 score 24c, 91 score 23c, 90 score
22'-,C lb.
Eggs Large 17c, med, 16c, small
13c dozen.
Cheese Fey. t&tt, triplet 12 '4 c lb.
NEW YORK HOP
New York, Mar. 20 Hops steady.
Pacific coast 1033 prime to choice 36-
3Be, medium to prime 35-36c lb. IB33
nrlme to choice 32-33C, medium-prime
10-310 lb.
Salem Markets
Complied from reports ol 8a
lem dealers, for tho guldanc
sf Capital Journal readers.
(It vised Hall?;.
Wheat. No. S white 69c, red sacked
57c bushel.
Feed oats 914 ton, milling oats 16c,
malting barley No, 1 916; feed barley
9U ton.
Clover $11. oats and vetch $10, val
ley alfalfa 912 ton
Hogs--Mktnet M;irct: top grades.
140-ltiO lbs. 94 00; 165-200 lbs 94 25;
200-225 lbs. 94 00: 225-250 lbs. 93.76.
Veal 84c lb. dressed.
Top hogs, 120 lbs. 8c lb. dressed.
Poultry Light hens 6c, medium 7c
lb. Heavy hens under 6 lbs 12c, over
8 lbs. 11c lb Colored fryers 10c, med
ium colored fryers 9c. Leghorn broil
ers 10c. leghorn medium 8c, light 7c
lb Colored broilers 10c. Stags 6c. old
roosters 4c lb.
Eggs Med. 0c, extras lie, standard
10c doren.
Butter Cubes 26lic. prints 34'ic
Butterfat 23c lb.
tMMll. MOIIUH
Wool Course 31a lb. medium 39
210 ID
Polk County Sends
Two To Penitentiary
Dallas Lawrence Elliott was com
mitted to the state penitentiary for
a period of one year in Judge Ar-
lle Walker's court Monday after
noon. Elliott, charged with lar-
ceny, had waived all preliminaries.
Arthur Penn, chanted with bum
lary not In a dwelling, was given
a two-year joit.
Sublimity Mr. and Mrs. Charles
Van Deheifth and family of Forest
Grove have been visiting the past
week at the home of her mother.
Mrs. A. P. Hermens and with her
sister, Mrs. Mike Benedict.
Gola Mrs. Ruby Thacker was
week-end visitor at the home of her
sister, Mrs. Dave Jacobson of Talbot.
lola House gucsU at the E. L.
Herrell home are Mr. and Mrs.
Henry Pierce of Spokane, Wash
Mrs. pierce Is Mr. Hcrrclls mother
THE CAPITAL JOURNAL.
STOCKS RALLY
BRISKLY AFTER
PRESIDENT ACTS
New York, March 20 (LP) A move
by President Roosevelt to avert if
possible the threatened strike ol
100.000 automobile workers broupht
a broad and active recovery Into
the stock market In the late trad
ing today.
Automobile Issues were the 'first
to rally. The whole list followed
Short covering was so rapid that
the tickers could not keep pace.
Before the rally, the market had
been dull. It advanced In the early
trading, eased around noon, and ran
into a sharp well-off in the first
part of the afternoon.
Traders had many other Items
to think about In addition to those
In the automobile industry. A mod
ified stork exchange bill was pub
lished after the close yesterday. It
had elements of a bullish nature
for the near term, traders said, with
a decided bearish Influence for the
longer term. The Dies silver bill
was considered of no consequence
except as a measure of congres
sional sentiment in favor of silver.
Action of railroad labor In asking
for a wage Increase was a adverse
market factor. Plans for extension
of credit to business through gov
ernment banks had a favorable as
pect in the opinion of some traders.
Bonds firmed from their lows
when the stock market rallied. Com
modities were steady to firm. Grains
closed fractionally higher; cotton
gained about 75 cents a bale. The
American dollar cased as the pound
and franc advanced.
In stocks, General Motors ad
vanced 2 points, Chrysler nearly 2
and other fractions to 2. Motor
equipments advanced sharply. Steel
issues were strong with gains rang
ing to 2 points, the best In United
Stntcs steel.
Railroad shares Joined the rise
with Atchison. Pennsylvania. South
ern Pacific, New York Central, and
Baltimore & Ohio up 1 to more
than a point net. Mining Issues
were strong late in the day.
Stock sales today approximated
1,540,000 shares against 1,510,000
shares yesterday. Curb sales were
204,000 shares against 286,000 shares
yesterday.
Dow-Jones preliminary averages
showed Industrial 101.01, up 1.33;
railroad 47.96, up 0 75; utility 26.12,
up 0.44
EKWALL FILING
ARGUMENTS HEARD
Arguments of attorneys In the
mandamus proceeding to compel
secretary of state P. J. Stadelman
to accept the filing of W. A. Ekwall
for republican nomination for con
gress from the third district, were
heard today by the supreme court.
Stadelman refused to accept the
filing following an attorney gen
eral's opinion that it should be re
fused on the ground that Ekwall
had signed an oath that he would
not be a candidate for any other
office other than Judicial during
his term of office as a circuit Judge
in Portland. Ekwall contended the
oath did not apply to a federal
position and that his candidacy was
not in violation oi ine oatn.
The ruling was expected to be
handed down within a few days.
COUNCIL APPROVES
EMPLOYMENT PLAN
Pinal aproval of the new re-employment
office setup was given by
the city council last night when It
agreed to pay the $44.50 a month
under the new plan instead of the
$25 a month which was Its share
under the old plan.
Under the new plan the employ
ment offices are directed by a dis
trict supervisor, Ralph Coleman,
who has under his control offices
in Marion, Linn, Polk, Lincoln and
Benton counties. The office here is
operated by D. D. Doteon and an
assistant. Coleman has his district
offices here as well. The government
pays $404 a month as its share of
expense for the district, the coun
ties standing the balance. The cost
for this county is $134 of which the
county pays two-thirds and the city
one-third.
FILINGS INCREASE
FOR LEGISLATURE
i
Pilings for legislative seats were
on the Increase at the stute secre
tary's office this week, with little
more than two weeks remaining
in which to officially declare for
such positions as well as for other
elective positions In Oregon.
Senator Frank M. Franciscovich
of Astoria, filed for reelection on
the republican ticket in the upper
house from District 15, Clatsop
county.
Richard Deich of Portland, mem
ber of the house, filed for reelec- t
tion to his seat on the republican
ticket from District 5, Multnomah :
county. ;
Dcaver K. Mendenhall, democrat
of Ontario and Art Steele, repub
lican of Clatskanie. filed for seats
in the house, the former to repre
sent district 21, Malheur county,
and the latter for distrclt 8, Col- !
umbia county.
FARMERS'
GRAIN
WAREHOUSE
I.ibfrly at Trade Sis.
Grain Dealers
100 lbs. Chirk Mub I1.9S
100 lt. Kff Prod I TS
100 I ha. E Mub IAS
M lb. Dftlry Frrd l.M
SALEM, OREGON
Agreement Reached By
Factions Working On
Exchange Control Bill
Washington, March 20 (!) Differences between con
gressional advocates of stock market control legislation and
the treasury and federal reserve board were reported of
ficially today to have been composed
by the revised measure Introduced
yesterday.
This was made known by Chair
man Rayburn ID., Texas), as the
house interstate commerce commit
tee opened hearings on the new bill.
His statement was echoed by Thom
as Corcoran, counsel ol the recon
struction corporation.
Corcoran added that the revised
draft liberalizing margin require
ments represented eight days and
nights of work by the authors of the
SALEM HEIGHTS
TROUBLE FLARES
8alem Heights A petition bear
ing 115 names, asking for the ap
pointment of Dean F. M. Erickson
to the Salem Heights school board
was presented to School Superin
tendent Fulkerson Saturday.
Roy Bohannon resigned as chair
man of the board nearly a month
ago. Petitioners have said that this
was the beginning of sentiment
arising against conduct of school
affairs' In this district. They claim
that undermining has been In pro
cess on the part of some of the
teachers, that favoritism is exten
ded to certain teachers on one hand
and on the other what amounts to
virtual prosecution In regard tc
others.
Erickson has formerly served on
the Salem Heights school board and
is considered by district 128 as a
man of honor and business ability,
hence the clamor for his appoint
ment. LATE ADVANCE
IN GRAIN PRICE
Chicago, March 20 (P) Grain
prices scored late advances today
associated with favorable views
taken by traders regarding the new
grain exchange code signed by
President Roosevelt.
Leading unofficial authorities In
the grain trade said the code pro
vision dealing with margin require
ments would assure safety and sta
bility of the price structure. It was
declared to be sound policy that In
dividuals Interested in excessive
lines of grain should put up mar
gins in proportion.
Wheat closed firm at the day's top
level, above yesterday's fin
ish, May corn unchanged to
higher, oats up, and pro
visions unchanged to a rise of 7
cents.
Wheat showed an upward price
trend early today. Firmness of the
New York stock market, together
with an unexpected upturn in wheat
values at Liverpool on account of
silver legislation at Washington.
had a bullish Influence. Opening
unchanged to higher. May 87.v
, wheat afterwards rose all
around. Corn started unchanged
to H off, and subsequently advanc
ed somewhat.
measure and tn icaerai reserve
and treasury stalls, including mem
bers of the staff of Ferdinand Pe-
cora, senate banking commiuee
counsel.
Chairman Fletcher described the
revised measure as "a very decided
Improvement. It meets the objec
tions largely that have been urged
against the bill," he said.
Pecora indicated he was satisfied.
"I think it's a bill with teeth,"
Pecora said, as he hurried into a
senate banking committee meeting
One major alteration was made
in the requirements to govern mar
ginal trading, the Fletcher-Ray burn
provisions which drew heavy fire
from Wall Street.
As in the original bill a cash mar
gin of 60 percent would be neces
sary. But wjiere the loan value of
a stock in the original was limited
to 40 percent of the market value or
80 percent of the lowest price in
three years, the federal experts
changed the latter to 100 percent.
Whore the marginal requirements
previously would have been made
applicable on all outstanding brok
ers' accounts and bank loans on se
curities on October 1, 1934, the re
vised draft shifts this date to Jan
uary 1, 1939. The newly projected
requirements, however, would go in
to effect on all marginal transac
tions made after October 1, 1934.
As another major change in the
marginal trading section, the new
measure would place control of it
in the federal reserve board.
Despite heated objections from
exchange officials, however, the new
draft would place the federal trade
commission in charge of adminis
tration of the rest of the measure.
Membership of the commission
would be enlarged from five to sev
en. The margin supervision shift
was made in order to keep credit
control centralized in one agency.
BATTLE CREEK
CRUSHER CLOSED
Another county CWA project
went out of existence today when
the county court ordered the dis
mantling of the Battle Creek crush
ers on the Battle Creek road and
to close it down. The dismantling,
however, will not be very extensive
to consist mainly In disconnecting I
the belts and removing portable
parts which might be tempting to
pilferers.
The county court considered this
one of the best county CWA pro
jects as it hired a large number
of hands and furnished rock for a
large number of the county pro
jects, especially in this section of
the county. One reason for not
dismantling the crusher to too great
an extent Is the unspoken hope
that the CWA may resume opera
tions in the fall and this crusher
may again become the hub of some
of the road activities. The crusher
was moved from Marlon when CWA
work got under way, all expense of
its operation being charged to the
"overnment.
And
Spring!
"The Call of
CapitalAJournal
COUNTY ROADS
UNDER CONTROL
OF C WSION
The county court today received
notification from the state high
way commission that the commis
sion has adopted resolutions set
ting out the secondary highways
throughout the state under Juris
diction of the commission and filinc
a list of these with the court for
Its reference.
The lists show the secondary
hiehways for Marion and Po!k coun
ties under the latest resolutions ot
the state commission to be as fol
lows: Marion count v:
IlilLr.boro-VVoodburn highway No.
140, Silverton to Newberg, 27.6 miles
Bcaverlon-Aurora highway, Auro
ra to Clackamas county line, 2.9
miles.
Cascade highway. No. 160, Silver
ton to Jacks bridge, 5.55 miles.
Woodburn-Mt. Hood Loop high
way, No. 101, Woodburn to Clack
amas county line, 2.7 miles.
North Santiam highway. No. 162.
Stavton to Niagara. 48 miles.
Silver Creek Falls highway. No.
163, Salem to Sliver Falls to Silver
ton, 43.4 miles.
Polk county:
Salcm-Dayton highway No. 15,
from Salem-Dallas highway to
Yamhill county hue. 9.8 miles.
Kinirs Valley highway. No. 190,
West Side Pacitic highway to Bcn
ton county line. 15.7 miles.
Dallas-Kings Valley highway, No.
191, Dallas to Kings alley roau,
10 miles.
Dallas-Coast hiphway, No. 192.
Salem-Dallas road at Dallas to
Wallace bridge, 15.6 miles.
Independeme highway. No. 193.
Brunks Corner to Independence.
5.7 miles.
Continuation of
Strike Warning
from Pace One
the good of the country.
"If no agreement is reached, and
In default of arbitration, it may be
necessary for me with due regard
to the protection of the general
public interest, to appoint a com
mission to examine thoroughly into
the labor controversy, covering all
classes of railroad employment, In
order that the country may be ad
vised of the merits."
Mr. Roosevelt also gave notice to
the railroads that he felt some of
the wares being paid employes were
below the minimums established in
the NRA codes, "if not actually be
low a subsistence basis."
The president demanded that this
situation be immediately corrected.
Mr. Roosevelt repeated his beliel
that this is not the time to fix
permanently the railway wage scale.
The text of the president's letter
was addressed to W. F. Thiehoff,
chairman of the conference com
mittee of managers, and A. F. Whit
ney, chairman of the railway labor
executives association.
In the house, Representative
Blanton (D., Tex.) said the Ameri
can Federation of Labor's attitude
is one of "selfishness" and it ought
to call off the automobile strike.
"Workers are getting better pay
than at any time since 1929," he
said.
"The American Federation of La
hnr !s trving to forrp the workers
the Open Road"
GO SOME PLACE!
ENJOY YOURSELF!
Find out all about the
coast the cities t h c
country Just send
$2-50
It will pay your
subscription from to
day until the corres
ponding day in Octo
ber the besrinninsr of
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PERTOD.
1 By Mail Only
TUESDAY. MARCH 20, 1934
to do r.omt'Umtg they don't want
to do."
Bif-.ie the -enate labor commit
tee, Dr. Paul F. Biisscnden, Co
lumbia ptolessor of economics, ad
vocated enactment of the Wagner
bill to oulluw coinixiny unions.
Opening the second week of hear
ings on the bill, UrLvendt'n con
tended that the collective bargain
ing section of tho recovery act was
in "udt'iit need" of revision.
He fau:d the NKA had failed M
achieve Us objective of higher wages
and Biiaicr employment and Uutt
it was now .a "a perilous situation"
and "at a dead center."
The recovery administration, Bris-
sciidiii saul, should substitute a
price ri-duction campaign lor 1U
policy of encouraging, or at least
tolerating, iiKTi'SM-d prices.
Wdhlungton, March 20 A") A 34
per cent incrcaae in wages above
what lluy are gemiig uuw was ne
inamled today by railway employes
elliTtive July 1.
This was in reply to notice given
yesterday by railway managers that
they intiinKd to lmpuse another
live per cent cut July 1.
President Roosevelt, meanwhile,
watched carefully the negotiations
of the railway ollicials and broth
erhood leaders and the conferences
in Ntw York on the threatened
strike ol automobile workers.
The president hus received no
word from Hur.li a. Johnson, the
NKA administrator, who is In New
York working tor a compromise.
It was sad at the White House
that this indicated progress wai
being made.
The railway employes now art
working for ten per cent less than
i heir basic wage. They requested
that this be restored and that they
be given an additional ten per cent
increase. While Ihe conference was
ocing held downtown, a senate com
mittee heard Dr. Paul Brissenden,
Columbia university professor of
economics, advocate passage of the
Wasner bill to outlaw company
unions.
LEGION OBSERVES
15TH ANNIVERSARY
celebration of the" 15th annivers
ary of the founding of the Ameri
can Legion was ouservea Dy vpiuu
Post No. 0 and auxiliary Monday
night following a pot-luck supper at
the Fraternal temple building, lrl
McShcrry, past stale vice comman
der and iaU district commander,
gave an outline of the history of the
organization.
O. E. (Mose) Palmatecr, district
commander, urged attendance at a
joint meeting of districts one and
two to be held all day Friday at
Sherwood, the meeting designated
as a youth conference with discus
sion centering on junior baseball,
child wcliare, Buy Scouts and sim
ilar activities. The meeting starts
at 10 o'clock and will be concluded
with a banquet and dance. Success
of the conference will determine If
similar meetings are held In other
districts throughout the state.
Entertainment included violin se
lections by Alexander Mclovidof of
Chemawa, accompanied hy Clarence
Wengcr; solo dances by Claire Hur
ley and selections by the Haywire
orchestra. Dancing concluded the
evening.
The post formally accepted the
invitation of the Salem Elks to at
tend an entertainment in honor of
members of the American Legion
at the temple Thursday night of this
week.
Farmers of Argentina are de
manding rinsed n,,T"'liiVR