The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1897-12-17
WEEKLY MARKET LETTER.

[Ofice of Downing, Hopkins & Co., Chicago
Board OF Trade Brokers, 711-714 Chamber Of Com
merce Building, Portland, Oregon.l
Light speculation was the dominating
factor in the wheat market last week.
Its force was felt more keenly than at
any time since prices left 81 cents five
months ago. The bear element is
working on the idea that all the bullish
influences have been discounted by the
advance in prices of 36 cents from the
low point in the spring. Wheat that
cleared last week was all bought
month or more ago, and prices were adj
vanced at the time. Now that the
stuff is moving out, the bulls think
that prices should continue to go up,
because the stuff is being delivered to
the buyers. The latter are not taking
hold as freely, but export sales during
the week were heavy. For three
months the market has backed and
u4lCu ~ CClGS 1OI Iudy, RClGluS
5 cents above it recently, and has been
cents below it. The bears have been
unable to maintain a break for more
than day or two below 80 cents. De-
cember sold ~ cents to II cents
premium over May. The position Of
the bulls and their intention are as
much of a puzzle as ever. They stand
ready to pay for 5000, 900 bushels of
wheat, and are very liable to get it be-
fore the first of the year. Elevator
people, however, are not disposed to
tuake any deliveries until navigation is
closed, as they want to keep the wheat
in their houses. The Letter party have
from 10000 to 100000 bushels
bought. There are also scattered lines
that will reach above 2,0O0, 900 bushels
held by parties outside of the pool.
The claim is made that there is no
shortage, except on the part of the ele-
vator people. The latter have been
SlIS WACdG uoWll Dulubu. LII
is deal that no one except rich men
can afford to be in. The bulls claim
that the wheat brought down from the
Northwest by the elevator people has
not shown any profit. If such is the
case, it seems rather strange that two
such shrewd business men as Armour
and Weare should be SO actively engaged
in it. Government report gives crop of
winter and spring wheat at $50, 100000
bushels. Visible supply of wheat de-
creased 101, 900 bushels, and now totals
81, 744 bushels.
Portland Market.
Wheat-Walla Walla, 72 73c; VAL
ley and Bluestem, 1906 per bushel.
Four-Best grades, $4.25; graham,
$3. 40; superfne, $2.25 per barrel.
Oats-Choice white, 81 @35c; choice
gray, 32 @33c per bushel.
Barley-Feed barley, $1,000; brew
ing, $40 per ton.
Millstiffs-Bran, SIT per ton; mid
dlings, $21; shorts, SIT.
Hay-Timothy, $12.5O@13; clover,
$10@11; California wheat, $40; do
oat, $11; Oregon wild hay, 5000 per
ton.
Eggs-1s1a @25c per dozen.
Butter-Fancy creamery, 5O@55c;
fair to good, 4O@45c; dairy, 3O@40c
per roll.
Cheese - Oregon. l11ac; Young
America, 121ac; California, 9@10c
per pound.
Poultry-Chickens, mixed, 1880
2. SO per DOZEN; broilers, $2.O0@2. so;
geese, $4,000; ducks, $3.OO@4.5O
per dozen; turkeys, live, 1o@11c per
pound.
Potatoes-Oregon Burbanks, 35@45c
per sack; sweets, 81. 40 per GENITAL.
Onions-Oregon, new, red, 90c; yell
low, SOC per Genital.
Hops-s@14c per pound for new
crop; 1895 crop, 4@6c.
Wool-Valley, 14@16c per pound;
Eastern Oregon, 7@12c; mohair, 20
@22c per pound.
Mutton-Gross, best sheep, wethers
and ewes, $500; dressed mutton,
&C; spring lambs, SIC per pound.
Hogs-Gross, choice heavy, 81. 90;
light and feeders, $3.OO@4.0o; dressed,
"a. 50@5 5. 90 per 100 pounds.
Beef-Gross, top steers, $2.75@3.00;
COWS. $2.25; dressed beef, 4@51sc per
pound.
veal-Large, ~ @5c; small, 54@
&c per pound.