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About Daily capital journal. (Salem, Or.) 1903-1919 | View Entire Issue (Dec. 19, 1913)
PAGE SIX DAILY CAP! TAL JOTTBHAL, SALEM, OBEOON, TBIDAY, DECEMBER 19, 1913. NOT Dl Unqualified Opposition of Administra tion to Intervention Has Had Good Effect on Securities. EESISTING QUALITIES OF STOCK 8UEPEISING FEATURE Less Apprehension in Wall Street Be garding Any Drastic Anti-Trust Legislation Next Tear. New York, Doe. 19. Securities con tinued to exhibit surprising resisting qualities. Discouraging influences are numerous and active, and yet val ues, except in special instances, are well maintained and show a disposi tion to rally upon the slightest en couragement. Of course this is attrib utable to the sold out condition of the nifirket; also to the fact that the fi nancial district has largely discounted any possible business reaction. Mexico has somewhat disappeared as a disturbing factor, chiefly boejiuso of the unqualified opposition of the Ad ministration to intervention; tho pres ent policy apparently being to allow Mexico to work out its own salvation as other nations are obliged to do. Tho currency bill has now passed beyond the apprehensive stage. Its provisions are being gradually but uroly brought more into line with sound bunking opinion, and it is now accepted as certain that the bill will be passed in reasonably satisfactory form within a very short period, and possibly before adjournment for the Christmas holidays. There is also less apprehension re garding any drastic anti-trust legisla tion. Mr. Wilson's remarks upon the Sherman law wore eminently sound and prudent, The law as at present drawn and as Interpreted by the Su phome Court of the United States is quite snfficieo to restrain monopoly. To wiiie it off the statute books, or to amond it would simply bo throwing away all the past labors of the Su preme Court to make it reasonable and equitable; and a new law would simply precipitate fresh agitation, then litiga tion and prolonged unsottlumcnt of mutters already satisfactorily adjusted. Mr. Wilson's suggestion of supple mentary legislation clearing up ambig uous points, especially as to defini tions, appears to bo the bout solution of tho difficulty, No Encouraging Features. A careful search of the business sit uation fails to find any very encourag ing features. December is always a month of slowing down, but this year tho tendency is more markod than usual. The causes aro both economic and political. The most fundamental reason is the worldwide high cost of capital. The signs of recession on this account aro uite as pronounced abroad a In tho United States. In Europe the situation is aggravated by militarism, and in Canada by a too rapid expan sion. Neither of those conditions exist in the United States. There has boon no serious overstrain of credit In this country; nor any overexpansion in femoral business. On the contrary, the banking situation is protty well in band, and our various merchandise markets are more likely to suffer from scarcity than from overproduction. As a matter of fuct economic conditions in the United States aro sounder and more encouraging than those prevail ing elsewhere. And yet business de pression is nowhere so marked as along tho seaboard of tho United States, and this depression is gradually extending itself throughout the West and South. Why should this coimtdy auffor a keener recession ' in busluosa than any other country when intrinsic conditions are generally sound f There is no other explanation for this unfor tunate condition of affairs except that of pernicious political activity. What with the meddling of visionary reform em and the attacks of radical politicians upon all forms of business activity, le gitimate enterprise has been almost lit erally destroyed. Tho spirit to venture d Invest, which is thn mainspring of induxtrml progress, has been thwarted la every dirm-t ion by constant oppres sion. Our "new freedom" may be born, but It is not yet even a lusty in fant and tho country Is suffering sadly from unwise Interference or downright Injustice emanating from political In fluences. There are signs, however, of :. change In this direction) Mr. Wilson, although a progressive of tremendous Kwer, seems qnito Inclined to curb the ambitions of extreme radicalism, and thvra are Indications ehtowhore that our vUioxinry political loaders will be forc ed to sit up and take notice of the con sawpiences of thoir actions. KHxvially will this be true when the army of un employed increases, as It surely will uu Um Imxinens men aro spared this luces nunt Irritation and Interference with le gitimate enterprise. foreign Financial Solution. Tho foreign financial situation ap- ln to bo slowly working out of Its difficulties Into more satisfactory po sition. No little disspiKiintment fol lowed the delay In placing ths French government loan, the ruceessful ton- summation of which would have been of material benefit to the international money markets. Nevertheless, French bankers are actively at work in com pleting the financial adjustments of the Balkan loans; and when these are fin ished the will will be still easier for handling the French government loan. The success of this loan will largely de pend upon it being able to bring out the hoarded money; if it accomplishes that result, its good effect will be world wide. London continues to keep a re straining hand upon the output of new securities, which it is known would be very heavy were it not for such re straints. Time will be necessary for replenishment of the reduced supplies of capital in the world's markets, and any substantial loworing of interest rates is not anticipated until such an adjustment is in sight or has beon ac complished. Still, the financial strain abroad is less acute, and with a reason able period for recuperation the situa tion will work out its own cure. , Trade is beginning to slow down in Great Bri tain, as it already has done in Ger many. Outlook Uncertain. Tho local situation is still one that requires caution. Tho outlook is Btill somewhat uncertain, but adverse influ ences have been so vigorously discount ed that they can have little effect upon the market. Tho shnrp declines in New Havon, New York Central and Canadi an Facifie came us surprises, yet the shock did not oxtend beyond those is sues. Lower prices may bo expected as we approach nearer to tho new year, but should thoro be any improvement in prevailing oconomic and political ten dencies a recovery in values would promptly follow, and the rise would bo materially accoloratod by the prosecnt outstanding short interest. Depression in the stool trade Is less acute, and idle woolen looms aro beginning to restart now that they can bottor estimate the effect of the new tariff. The more dis tant outlook for mousy is for relative ly easier rates, although such can hard ly be anticipated before the middle of January, and some stringency may oc cur in connection with the closing of the year. January disbursements aggro- gating obot $250,000,000 will shortly be due and tho December investment demand should be an clement of sup port in tho bond market and for high- grade shares. HEN BY CLEWS. Venustiano Carranza Big Factor In Troublesome Mexican Mixup TO THE KIDNEYS Take a Taulospoonful of Salts If Back Hurts or Bladder Bothers Meat Forms Uric Acid. We are a nation of moat eators and our blood Is filled with urio acid, says a well-known authority, who warns us to be constantly on guard against kid ney trouble. The kldnoys do their utmost to free the blood of this irritating acid, but become weak from the overwork; they got sluggish; tho ellmlnatlve tissues clog and thus the waste Is retained in the blood to poison tho entire system. When your kidneys ache and fool like lumps of lead, and you have sting ing paint in the back or the urine is cloudy, full of sodiinont, or the bladder Is irritable, obliging you to seek relief during the night; whon you have severe headaches, nervous and dizzy spells, sleeplossnoss, add stomach or rheuma tism In bad weather, got from your pharmacist about four ounces of Jad Suits; take a tablespoonful In a glass of wator before breakfast each morning and in a few days your kldnoys will act fine, This famous salts is made from the add of grapes and lemon juice, combined with lithia, and has boon used for generations to flush and stimulate clogged kldnoys, to neutralise the acids In urine so it is no longer a source of irritation, thus ondlng urin ary and bladder disorders. Jad Salts is inexpensive and cannot injure; makes a delightful offervescent lithia-wator drink, and nobody can make a mistake by taking a little oo rassionally to keep the kldnoys clean and active. 8IIB WEARS MALE ATTIRE. lUNITSD MIS 1JS.SSO WIS!. Oakland, Cel., Dec. 11). Ella Llewel lyn, aged IS years, giving her home as Stockton, was arrested as she left train hero today, clothed In ninlo attire. Sho left her home last Tuesday and was attempting to beat her way to Portland where she says she was to enter a nurses' training school. 5 Acres Well Improved S acres, rich, dark loam soil; good house, barn, well and pump; family orchard, Berries; all garden tools and Implements; hone, wagon, buggy, har ness, tlGQO down. Fries I2GO0. Buap. Modern Bungalow Cheap. New and up to date bungalow, five rooms, only 200 down, Fries 11400. Houses for Rent Wi Writ Insurance. Money to Loan. For Bargain See BECHTEL BTNOM, 847 Btate Street v. I i Photo copyright, 1911, by American Press Association. THIS Is the latest and best picture of General Venustiano Carranca, the leader of the Constitutionalists In Mexico. Carranza, as la well known, fought Huerta from the start of the present revolution following the death of Madero. Carranza Bet up a government of his own at Uermo sillo, and bis army swept on to further battles following Its capture of Juares. An effort was made by Dr. William Bayard Hale, unofficially repre senting President Wilson, to Induce Carranza to ninke arrangements whereby the situation could be cleared, but the conferences at Nognles were unsuccess ful. In any solution of the Mexican difficulty it Is apparent that Carranza is a vital and Important figure. None of the nomas ruins shows a chimney. M The Markets "The king is dead, long live the king," sooms to be the motto with hop growers and dealers. The crop of 1913 is not yot sold but already contracts for that of 1014 are boing mado. It Is too ported that 'Louis Lnchmund & Co., Thursday contracted for 100,000 pounds of tho coming crop at 10 cents, and T. A Livcsloy, it is Bald, contracted 20,000 pounds of Fuggles at 18 conts. The price Is now 20 cents, and there Is con siderable movoment at that prico. Sinco September 1 the hop shipments from Oregon total 95,000 bales. Wheat is steady in price but slow In sales. The market is well supplied with produce of all kinds aud dairy products are in good supply with prices unchanged. Eggs aro lower being quoted at from :ii) to 42 conts. PORTLAND MARKETS. Grain, Flour, Feed, Etc. Wheat Track prices: Club, 85c; ltluestem, 95c) Fortyfold, 85j80c; Rod Russian, 84c; Valley, H5c. Millstuffs Bran, $20.50 por ton; shorts, 2223; middling, $30. Flour Patents, $4.00 per barrel; straights, $4.00; exports, 3.!53.80; valley, 4.00; graham, $4.60; whole wheat, $4.80. Corn Whole, $30; cracked, $37 per low, nay Fancy Idaho timothy, $1718; fancy eastorn Oregon timothy, $1516; timothy and clover, $141S; timothy and alfalfa, $1313; elover, 8.5010; oats and vetch, 1011; cheat, 1011; valley grain hay, $10(($11. Oats No. 1, white, 2525.B0 per ton. Barley Foed, $2425 per ton; brew ing, nominal; rolled, $27(a28. Groceries, Dried Fruits, Etc. Dried Fruits Apples, lOe per lb.; currants, 10c; apricots, 1214e; peach es, 8 lie ; pranos, Italian, 810c; sil ver, 18c; figs, white and black, 7Vjc; raisins, loose Muscatel, 7 V&c; bleached Thompson, lle; un bleached Sultanas, 8c; seeded, 7V4 8e. Coffee Roasted In drums, lS32c per lb. Nuts Walnuts, 19H per lb.) Brasll outs, SOe; filberts, 15c; almonds, 20c; pecans, 17c; eocoanuts, 90cl per dos. Bait Granulated, $14 per toe; half ground, 100s, $10.23 per ton; 60s, $11 per ton. Beans Small white, $6.00; large white, $4.79; Lima, $0.30; pink, $4.0; red Mfxlcnns, Be; bayou, $4.40. Rice No. 1 Japan, &3e; cheaper grades, 4VjC; southern head, 5fic Honey Choice, $3.253.75 per case. Sugar Fruit and berry, $3.20; Hone lulu plantation, $5.18; beet, $5; Extra C, $4.70; powdered, barrels, $5.43; cubes, barrels, $5.20. 1 Frulta and 'Vegetables. Green Fruit Apples 60c($2.23 per box; pears, $1Q1.50 per box; grapes, , Malagas, $7.60(y $8.30 per keg; Emper ors, $3.734 per keg; grapes, crates, $1.75(2; casabas, 2e per lb.; eren berries, $11 per barrel. Vegetables Cabbage, lle per lb.; cauliflower, $1(2)1.25 per doz.; cucum bers, 4045o per doz.; eggplant, 7c per lb.; head lettuce, $22.25 per crate; peppers, 57c per lb.; radishes, 1012e per doz.; tomatoes, $1.50 per box; gar lie, 12e per lb.; sprouts, 11c per lb.; artichokes, $1.60 per doz.; squash, lV&e per lb.; pumpkins, le per lb.; celery, 5075c per doz. Potatoes New, 75c$l per cwt.t sweets, $2.25 per crate. Onions Oregou, $2.13 per sack. Dairy and Country Produce. Butter Oregon creamery, solid pack, 30c per lb.; prints, box lots, 34c. Eggs Oregon ranch, 45o per doz. Cheese Oregon Triplets, 16Vic; Dai sies, 17c; Young America, 18c Veal Fancy, 1316o per pound. Pork Fancy, lie per lb. Provisions. Hops 1913 contracts, 23c; 1912 crop, 141bs., 1920c; picnics, 14Vjc; cottage roll, 17VjC Bacon Fancy, 2829c; standard, 21Vj25c; English, 2122. Lard In tiorces, choice, 14 Vic; com pound, 9e. Dry Salt Meats Hacks, dry salt, 13 14c; backs, smoked, 14Vj15Vjc; bellies, dry salt, ltc; smoked, 16o. Smoked Meats Beef tongues, 25c; dried beef seta, 22c; outsides, 20c; in sides, 23c; knuckles, 2lo. Pickled Goods Barrels, pigs feet, $14; regular tripe, $10; honeycomb tripe, $12; lunch tonngues, $22; lambs' tongues, $40. Hops, Wool, Hides, Eta Ho)s 1913 contracts, 20c; 1912 crop, luminal. Wool Eastorn Oregon, 10(16e per lb.; valley, 1618e. Mohair Choice, 2526c per lb. Hides Salted, 12o per lb.; salted calf 1617c; salted kip, 12c; salted stag, 9VjC; green hidos, HVie; dry hides, 21c; dry calf, No. 1, 25c; dry stags, 12 13He. Country butter, per lb. .......30c Eggs, per dozen 40c LOCAL WHOLESALE MABSET. Bran, por ton ...$25. 00 Shorts, per ton $2f,00 Wheat, per bushel sM Oats, per bushel fl Mgan Chittlm Bark, per lb. . Hay, Timothy Oats and vetch Clover, per ton ..$13.00 ..$12.0G $9.00 $11.00 Cheat, por ton Butter and Eggs. Butterfat, per lb., f. o.b. Salem.. Creamery butter, por lb. Poultry. Fryors Ileus, per lb. .. oostera, per lb. B tears. Steem - , , - T Cows, per wt sffs Hogs, fst, per lb 37e 37c 12 ..11c ..8c Stock ogs, per lb -Ewes, per lb prlng lambs, per lb.. ..7 to 7 He c uHo Veal, ateordisg quality J113 V 1' ) Insist on this label to insure satisfaction Dependable since 1881 Not only pre-eminent in style, Knit-right Sweater Coats are made to wear from selected yarns and finished only by expert labor. That's why you take no chance buying the Knit-right kind. Knit-Right Sweaters For the entire family From $1.00 to $15.00 FOR SALE BY ALL GOOD DEALERS Jfmfn$ht Peltt. Dry, per lb. 8 Salted country pelts, each 65c$l Lamb pelts, each 86 PLEADS GUILTY TO CHARGE OF TEYING TO EXTOST CASH UNITSD FUSS 1.I1SSO WIES. Los Angelos, Cal., Dec. 19. Frank E. Young of Long Beach pleaded guil ty yesterday in the superior court to writing a threatening letter to Mrs. Kitty Bahrcnburg, of Long Beach to extort $600. He asked for probation". Judge Craig took the case under advise ment until December 23. Young, whose wife is a temperance worker known throughout California, was accused of writing a lotter to Mrs. Bahrenburg over the signature "Sun set Detective Agency" threatening to expose her relations with "Mr. Y." unloss she left $000 at a designated place. Everybody can't be entirely happy around Christmas time, but the norm al average of happiness can be raised considerably. rJ Icq Ssfeg. flJV Iff ssjsssr ll If is Wise To Know the benefit of Beecham's Pills as it seems almost silly to endure the suffering or to run the risk resulting from, impaired or defective action of the stomach, liver, bowels or kidneys. They work naturally, quickly and certainly, and pains, headaches, constipation and. bilious conditions disappear health, strength and spirits return after use of the great family medicine ML P The first dose of this time-tested and famous household remedy will prove to you that they suit you and will benefit you, and your vmj nbi nw uc mac yvu luive uf iayeu using mem. rney cleanse the s'stem of impurities, duly stimulate and re?- m.uvw vibcnii3 ui uitonuii tiuu nave it ionic enect upon all the body. In countless thousands of homes tney are Kept on hand as a matter of course. inuccu, ceecnam s nns nave so proved their worth to all men, women and children that At All Druggists, 10c, 25c Directions of Special Value to Women Are IV7A Every Box. No Family Should Be Wliiiout Them The Largest Sale of Any Medicine in the World"