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About Lake County examiner. (Lakeview, Lake County, Or.) 1880-1915 | View Entire Issue (May 17, 1906)
mm LAKEVIICW, LAKE COUNTY, Oil KG ON, THURSDAY, MAY 17, 1900. NO. 20. 9 VOL. XXVII. CONDITION OF THE L MARKET. Prices are Higher Than for Many Years--Thc Dlngley tariff. JUSTICE BATEMAN CO. REPORT. Belle! that Prices Have Reached The Limit the Demand Will Justify. TONKOK TllK MAKKKT Wool It dull, hut prices are steady at tho recent decline. Tim coiisump tlon of wool for lh liiHt twelve mouth has undoubtedly exceeded all previous records, yet owing to the heavy imports which are keeping close up to those of the unit period last year, there U no acute scarcity. Man ufacturers till find an ample assort ruent at a time when the new dome, tlo clip la beglnnnlg to arrive In market, and hope of the rising pi -predicted by aotne as a result of -huustlou of supplies, have now fudoii out of sight. Leading grades of domestic wool reached record price In the summer of 1905, and a decline haa prevailed lnco tbeu. BeHovlng that wool had reached the ton manufacturer had no motive for buying ahead of their wants and they have been either hold ing out of tho market, or supplying themselves with foreittu, which even with the high iJlutfley dutl-e added, haa proved to l relatively cheaper than dotncntle. Confirmation of tbU in thown in the largo Import of v ail in the cal endar year lOUl, which, vvru uuniiH the free wool perold, hn never in 1 I exceeded but once, lite impoi l last year were .'W r cent greater than the uvurage of the previous three years, home manufacturer who are very large consumers, and who heretofore have used domestic wools now import not having a single lleeco of domestic wool in their mills. This is because of the very high cost of domestic in places of production in HKfi, where, us to-day, prices were relatively high er tliati the duty puid cost of foreign. When prices were rising previous to midsummer of laxt year, and it look od as though they might Ih still high or, manufacturers bought freely and in many caHes ahead of their wants. llien lliey fell liack upon lliolr sup plies, and stayed out of the market altogether until they ran low ou aome grades, when they took ouly the least quantity they culd get along with. Under those circumstances sellers pressed their wool for side upon un willing buyers, and the greater the pressure the more timid buyers be came. Even when in pressing need of supplies, detecting tho weakness in the market uud fearing a further fall, manufacturers resorted to all sorts of shifts to postpone purchases, uiyulng 'often und with good reason, that if they did not gain anything iu prlco reduction by delay, they at least sav ed in insurauco and in interest, which, owing to deurer money and high wool prices, was a greater item than ever before, for it takes much moro money to handle the same quan tity of wool than it did two yours ago. Theso (Uid other condition prevail ing slnco August, 1905, caused falling prices, und the cost of carrying wool, itddod to tho shrinkage in price, cuus ed most dealer to lose money on the wool bought during tho ecxitemeut prevailing in all wool growing sections at the close of last season. Owing to theso losses and to tho inability of manufacturers to advance the prices of their textiles sutllciently to cover tho Increased cost of raw material, conservative views now pro vuil, which seem likely to result iu muny owners hulng to curry their wool themselves, until it is uctuully nooded for consumption. Instead of buying up tho whole dip us soou ns shorn the Fust may tuke only moderato quantities this year, leuvnig the bulk of it to bo held In the Interior, or consigned to seuboard markets by the owners to be held there by them until needed for con sumption. Tho fulluro of tho Hocks to iucreuse Booms to huvo been cuused by tho fuct WOO that too many grower sell their young ewes to butchers, whereas they should le retained for purpose of in crease. In sections Kast of the Mississippi the dairy Industry and- tiie plough have illMphiced many flocks in places that in H.r2 were among the greatest wool growing sections. Khcep have disappeared so rapidly before more profitable forms of agriculture, espec ially iu the sections Kast of the Miss issippi Itlvor, that now 4.1 per cent of all our sheep am located in a group of ouly five, so-called territorial stal es. It will not do fur wool growers to Ignore this growing dissatisfaction of manufacturer with the wool tariff, for it is leading to a demand for tariff revision In favor of free raw material. Kesoltitlons should le passed by wool growing Associations and sent to . their Congressmen, protesting ugaliiHt the disturbance to business by the agitation of this subject of tariff revision. ( rowers are only 'now getting the full benefit or the Ilugley tariff, for owing to tho groat surplus of foreign wool imported during tho free wool period, tho price for domestic wool waa depressed for year lsdow tho im porting point. It has ouly !een with in a year that the full price lifting ""i't of the present tariff upon wool l-een enjoyed by our growers. . umifueturers think that the in crease in wool induction iu Aus tralia and New Zealand may bring prices down. This increase is shown In the greater offerings in London up to September 31st, 1905, which was over 27 per cent greater, although the actual sales for tho year ending De cember 31st, 1905, were ouly 24,' .per cent greater than in the previous J ar. This indicates that a surplus I be ing accumulated, which is not favor able to permanently higher prices. London circulars show that the In crease yield of clean scoured wool in the production of Buenos Ay res and be British Colonies, during the year euriiu.7 lima, Is so great ft. .t the ,ro t the .I,., i r 1 : .... , n,,i and more thau cotdd then be ronsum ed, is now again nearly equaled. Taking these matters into consideru tion, we can see no reason to justify expectations of increased prices over current Eastern rates for tho 1906 clip, which is being prepared for market in many sections Up to the time of the appalling calamity in Han Francisco, general business conditions in the United States were most promising. Accord ing to liradstreet's figures Railroad earnings (an uufaillug barometer of business conditions) for February show a gain of 27 per cent over the earnings of February, 1905, an uu precedou ted showiug, but tho great catastrophe iu Han Francisco will cause disturbance in the money mar ket which must affect wool prices. llio sudden drurt ou the resources of Fire Insurauco companies, both foreign and domestic, occurring con temporaueously with tho heavy bor rowing of Russia, will bo sure to create world financial disturbances and possibly stringency, which may curtail the ability of dealers to con veniently handle the usual amount of wool. Tho general condition of trade and industry is now on a footing too solid and secure, for there to be any reason able apprelieuslon of a panic, but iu order to prevent insurance companies from throwing their securities upon tho market to raiso millions of dollars to liquidate their iudeptednoj, iu San l'rancisco, the banks are offering to advance money on, and to curry theso securities until such times as they can be marketed without uoed- less sacrifice. This broud and liberal policy of tho bunks will of course employ many mil lions of dollars that otherwisle would havo boeu available for investment iu wool, and at a time when the high price of wool requires moro capital to handle it thau ever before, so that tho determination of wool dealers and munufaturers to act conservutlvely uud to buy wool only as it is required, uud at prices which will show a mar gin ou current rules in the Kant, is a inousuro of necessity us well us of ex- lediency. It is quite probablo that Kusteru dealers will be inclined to touch tho coming clip lightly at llrst, and the service of commission houses may uguiu come to be us groat und us nec essary fuctors to tho western wool growers us in former years. During tho pust two scusous buyers were often found standing iu crowds ut the shearing cump to buy the wool STOCKMEN'S PROTEC TIVE ASSOCIATION. Three Counties Join Together to Put Stop to Wholesale Stealing The leading citizens of Crook, liar - noy and Lake County, in Oregon and Modoc county in California, have or - gani.od a Live Stock Protective Asso- elation, w ithheadquatersatLakeview, for the purpose of preventing the kill - ing of cattle aud tho stealing of hors- es, cattle and mule. It has Is-eu ascertained that there is a well organized Imnd of horse and cattle thieves oppcrating In Lake, Crook aud Harney county, iu Oregon, i that this gang of lawbreakers bo put and Modoc county , in California, out of business, but for the sake of who have been stealing stock In whole- law and order and civic righteousness sale numbers during the last year, it every one of those engaged in this ne ts known that these thieves have par-! farious business should be landed in ties stationed in California and Neva-1 the penitentiary. as soon as it was shorn, or even con tracting for it on tho sheep's I jack be fore shearing. Under these conditions the services of a commission house were not need ed, but changed conditions in this re spect appear to be imminent, owing to this unfortunate calamity in San Francisco, which comes at a time when growers of domestic wool expect ed to get for it at least the closing prices of lust summer. Now. however, these price are so far above the par ity of foreign wool with duty added, and also above the parity of present Kusteru prices, that, until they under stand tho situation, growers are sure to feel disappointment. Under these circumstances, wool growers may find the services of c.ommlssiou houses very acceptable, .ot only to make liberal cah advn I cis, out to carry their wool until a more satisfactorily range of prices is established. These wool growers who contracted their wool on the sheep's buck early in the season last yeur felt chagrined that they should havo received so much less than was obtained by the growers w ho sold their wool in tho ex citement of the summer. Iu a broad way it may le stated as a fuct, that with very few exceptions the profits of the Eastern operators ou wool bought early in the season, were swept away by the losses sustained on the high p-iood wools bought lute. .Notwithstanding tne nearly 7 per cent decline that has taken place in domestic merino wool since last Aug ust, this grade is still more than per cent higher than the highest point reached during the boom of 1900. In strong contrast to this, foreign fine wool is 10 per cent below the highest price of 1000. Tho boom of 1900 and its subsequent collapse, which caused a loss of more than one-half tho capital of many of the lending wool operators throughout the world, in some iustauces sweeping away iu one year the accumulations of a life timo, constituted an experience which is ever present iu the memories of tho wool trade, who view with much dread and apprehension, eveu the ap proach of prices to tho 1900 level. It is true that the relations of sup ply and demand have changed some what since then. The expansion iu population has been greater thuu the increase in wool production throng out tho world, and uo one uow be lie vs that the low price reached iu the reaction from thut boom, indicate tiie real uud true value of wool to-day, but all agree that present rates on flue wool ure ou a perilously high level, aud thut further advunce is much loss likely thuu a decline. Medium wool and blood) al though 3 per cent below the price of lust August is. still 13 per cent ubove tho highest pnoo reached iu tho dis astrous boom of 1900. Improvements iu wool working ma chinery havo enubled manufacturers to make goods of medium wool, which when finished have tho appearance of goods made of fluer wool, und owing to its grcster cheapness medium wool is being largely used us a substitute for lino. While owiug to its lighter shrinkage the grease price of medium wool Is higher thuu flue it yields wool ut a much lower cost, illustration, Michiguu i scoured As uu und wool, ut 32 cents iu the grouse, shrink From the Ranges ; da to receive and dispose of the stock stofcn from the Oregon ranges. So 1 incensed are the stock owner of these j counties that every one la willing to I not ouly become a member of the Live 1 Stock Protective Association, but have indicated their willingness to do everything possible to enforce the law against these robbers. It is to be hoped that in the inter et of not only tho livestock Industry age 47 per cent yields scoured wool costing 00 cents per pound while choice fine Montana delaine at 23 cents in the grease, shrinkage 70 per cent yields scoured wool costing 17 cents er pound lower cost for scoured med iuin than fine scoured, although the grease price of fine Is 9 centi lower than that of the medium. The Oregon ian prints the following on the 10th, which shows the wool market to be at a standstill at the present time. Shearing in the north ern counties is in progress, machines are being used with success. "Woolbuyers in this state show no disposition to meet the high prices asked by growers. They declare that general conditions in the wool market do not justify the extreme values that ,ave been placed on wool by aheet- I men. . The latter on the other hnn-t. seem determined to hold out for the prices they have named, and continu ance of the deadlock is the result. A few sales were made during the week, but they were very small and have no bearing on the general mar ket. Some of the dealers look for a better movement in the coming week, but others doubt if there is any ac tive trading before the regular sules days, which begin on May 22. Tnese auctions will show deflnately the atti tude of buyers and sellers. Twenty-five cents seems to be the price fixed by most of the Eastern Oregon woolmcn for tho best clips, while the buyers say they will not pay w ithin several cents of this figure. Iu the vulley 2o cents is the general nric. and tli denlerx nro rfTrinir 00. to 23 cents. Woolbuying is practically at a stand still In all parts of the West. In Washington and Idaho, the same con ditions prevail as in this state. A few stray transactions are being made in Nevada at 19 to 20 cents. The larger part ot tho Utah clip was sold early. " Lake county sheepmeu seem to be more Arm in demanding the udvauced price than they were last spring, they their experience last year seeming to huve given' them courage to hold onto their wool. What the result of their stand will be only remains to be seen. Lnst year many of them sold early arouud lGla ceuts, and tho few who held received as high as 20 and 21. This spring 20 cents has been offered them, but the waiting policy prevails aud few clips huve been contracted. Buyers are determined, aud many or ders for fabrics have been cancelled because of the high price of raw ma terial, which may have a tendency to cause a decline or slump iu wol prices iu the West. Development League Work. The development League is taking steps to bring about a meeting of the busiuess men of Luke and Modoo counties aud the mauagors of the N-C-O. railroad, for the purpose of com ing to a deflnate understanding con cerning tho exteusiou of thut road through these, two comities. Tho pro posed meeting pluco is at Lukeview, in order thut the ruilroad pooplo ruuy see w ith their own eyes the vust op protunities lying ahead of them, and study tho conditions from personal observations. It will also be a fea ture of the meeting to ascertain from tho ruilroud people just what support they usk for extending the roud, and to demonstrate to thorn thut tho short extensions do not meet our wants. The N-C-O. people have complained that their progress has been materially hampered by the reception they have received at the hands of the people of that portion of the country thus far traversed. They have said, in substance, that it appeared that the rople wero opposed to the extension of a road through the country and, took every opportunity to place ob stacles in the way, having been ready at all times to prosecute damage suits, and view lightly their adversities. Now what the League proposes, is to prove to these railroad men, if it Is possible to get them in proving dis tance, that whatever discouragement they have met with, they have passed, as tbe people of this county are friendly with the road and want it to extend. That they will place no ob stacles in the way of the road, but will offer them every encouragement possible. The time for the meeting has not been sot. The convenience of the peo ple of on r neighbor county" and the railroad people will decide that detail. It is to be hoped that every business man in Lake county will lend his as sistance to the League in this movement. The Grand Jury. A grand jury was called at the con vening of the present session of cir cuit court to Inquire into the various charges against parties who have been detained in the county jail and any other matter that might be brought oeforo the body. The person nell of tho jury is as fol lows: W. A. MassingiS, foreman; A. Storkman, D. C. Sctminck, C. S. Dixon, E. B. Brewer, Ed. Wood, liobt. Nelson. The first day's work resulted in an indictment against E. E. Wert, charg ed with the larceny of a suit of clothes, and most of the evidence was taken in the Lee case. An indictment was returned against Bert Lee on Tuesday. Lee's trial is set for today. The case against Wert came up for trial Wednesday, L. F. Conn appearing for defendant. As we go press jury finds verdict of guilty. Indictments were returned against Wm. Vinyard and John Doe for horse stealing. R. B. HalCon Dead. Reuben B. Ilatton, the first clerk of Lake county, died at Klamath Falls, Monday, May 7th. Ii. B. Ilatton was born in South Carolina, Feb. 22, 1842. He came to Oregon in eaily day, locating at Ashland. When Lake county was struck off from Jackson county Mr, Ilatton claimed his residence in the new county and was elected its first clerk in 1876. He was reelected to the office twice. When Klamath county was formed Mr. Ilatton became a resi dent of that county, where he has re sided ever since. Mr. Ilatton has the distinction of having resided iu three different counties without ever having cnaugud nis place of residence. Many old residents of Lake county knew Mr. Ilatton and held him in high esteem. Oue by one the old laud murks of pioneer days iu South eastern Oregou are passing away, but their memory long lives. Creffield Killed. Creffleld, the Iloly Roller leader was shot and killed in Seattle on the 8th of the month by George Mitchell. Two of Mitchell's sisters had been led estray by Creffleld and to avenge his wrongs young Mitchell followed the self-styled prophet to Seattle and shot him down in the street and then gave himself up to the officers. As soon as the deed was accomplish ed, Mitchell wired to Hurt, Creflield's futher-iu-law, in Corvailis, that "I have got my man, and am in jail heie. " Mr. Hurt started for Seattle at once to look after his daughter, Mrs. Creffleld, who was known to be destitute and in rags, without a home, and Mr. Hurt also announced his pur pose of arranging for Mitchell's de fense. He said thut within 10 min utes after the word reached Corvullis that Mitchell hud killed Cieffleld a movement was started to ruiso f uuds for his defense aud to raiso money for a gold medal as a reward for Mitchell's good work. The uews was hailed with delight wherever Creffleld hud prac tised his infamous influence and broken up happy homes. The most prominent men in Corvailis audAlbuuy were llrst to auuounce their purpose to go to the extent of their resources to prevent Mitchell from being pun ished. Regardless of recommendations fioin prominent persons aud district attor neys from Portland, Corvailis aud other Oregou cities, the Washington authorities say they will endeavor to prosecute Mitchell. STEAMBOAT FOR GOOSE LAKE. Operator Burke Planning - to Establish Steam- er Service. REDUCTION IN FREIGHT RATES. Big Territory Would be Accommo- ' dated Give Outlet to the West Side. E. Burke, for several years telergaph operator here, has resigned the p oei tion and is engaged in Interesting local capital in a steamboat for Goose Lake. Mr. Burke has been figuring on the proposition for a year or two, and recently has made investigations of the possibilities of such a scheme with the result that he will endeavor to interest sufficient capital to go with what money he has on hand of his own, to establish a line and pat on a boat to operate between here'and the lower end of the lake, a distance of about 10 or 50 miles. He believes that a small boat, say of 15 to 20 tons capacity, could be sac--cessfaly operated on the lake. He has investigated different landings at this end and will make a survey of the lake shortly to see how far a boat could run and bow many good land ings can be found. He figures that a trip to the lower end of the lake and back can be made in time to allow a four-horse team to make a trip from there to Alturas and back in one day, which will reduce the time and ex pense of hauling freight by team more than half , A Jboatj. the size be proroscs th put on will be able to ran in about 20 in ches of water and make landings at most any place along the lake on either side, for loading on wood, lum ber, grain or other farm produce and ' stock of all kinds. Such convenient service would make it possible for the farmers on both sides of the lake to ship their produce to a point so near the railroad that with slight expense shipments could be made to market. Prohibitory shipping expenses has been the only obstacle to vast exports of grain, hay, hogs and various other products of tho farm being shipped from this valley to market. Mr. Burke's proposition solves a problem, for successful farming in this valley, and if carried out as he contemplates, Goose Lake will soon be a source of supplies not to be disregarded by the big markets of the world. Mr. Burke does not fear the advent of a railroad, as his proposed system of steamboating will make it possible for him to carry on a shipping busi ness independent of rail traffio suffi cient to ensure good returns from the money invested. In fact the building of a railroad into Lake view from the north or south, or even a through line would only stimulate traffio to such an extent that his busiuess would pro fit by it rather thau be retarded. The scheme from Mr Burke's ob servation is an entirely feasible one, and bis ability to operate and manage a steamboat line is not questioned. There is lots of good timber on the West side of the lake that is so far , from a road of any kind and the dis tance around the lake either way to a market is so great that the timber is likely to stay there for Borne time to come. Yi ltn a boat on tne lake, mills could make lumber and ship to mar ket at a profit. These possibilities, besides various other sources of reven ue presents Mr. Burke's steamboating proposition in a most favorable light. A boat drawing 20 inches of water , could be used as a tug boat for ' haul ing barges, which he figures would be the only practical means of hauling the more bulky freight. The boat being made to curry 15 or 20 tons is designed to ruu 12 to IZ miles per hour, when carrying her own burden or tonnage, which would injure fast service for that class of freight when spued and timo is consid ered. . . This is absolute! a feasible plan aud it would lower freigoi. lute to all this northern country aud we tbiuk . the people of this couutry will aid in briugiug this to a reul issue.