East Oregonian : E.O. (Pendleton, OR) 1888-current, 1909-01-28

pected to supply California with the
bulk of her milling stocks.
Early in the season The Journal
stated that unless there was a radical
decrease in foreign shipments of
wheat there would be famine here
before the new crop was good enough
to mill. This condition is already in
sight and for that reason millers are
making desperate efforts to secure
some Of the remaining holdings.
While no actual transaction has
been reported in the market for blue
stem wheat over $1.0S a bushed, a
bid at $1.09 has been reported as re-
fused and It Is hard to tell just what
the remaining stocks can be secured
at. The present market is the high
est for Portland since pioneer days,
values reaching no higher than sl.O2
a bushel in recent years and that was
an unnatural market during the Lei
ter deal in Chicago.
There was considerable excitement
on the Portland board of trade dur
ing today's session, an advance of
1hc a bushel being shown in the bid
for January delivery of wheat while
holders were asking n stiff advance
of nearly &c over former quotations.
For the February delivery on the |
board bid prices were moved up to |
gGc as compared with 93%c yester- |
day, but no wheat could be secured |
under SIC. This means club delivery. |
There was no change in either oats
or barley futures today.
High in Chicago.
Chicago, Jan. 27.-The firmer
opening of the wheat market here |
this morning was legitimate, for the
demand for wheat was good. After
the opening there was but a moment
ary pause to quotations, during which
period the May dropped back Nc,
but the rest of the market was sound
and firm all day. The closing was
q C to 1c above yesterdays bid.
There was but nominal trading in
foreign markets and little change in
values was shown there for the day
At Antwerp the market closed at ex-
actly the same figures as yesterday
Liverpool opened ~ lower and clos
ed I'D to Nd under the final figures
Of yesterday.
There was an entire absence OF
crop news during the day. but this
was scarcely noticed by the trade and
a, home the market for the three op-
tons closed within a fraction of the
high mark for the day.
Bright For Livestock.
Portland Union Stockyards, Jan.
27.-While the livestock trade has |
been very bearish on the immediate
future of the market for several I
lays past. there was an entire change ,
lf sentiment among commission ham {
Hers this morning. and all interests
ire now much more hopeful. I
Although the cattle market shows {
lutte fair arrivals for today the big {
un seems to be coming to an end,
ma this brought forth additional in
lulries from buyers this morning. al
hough none of them was willing to {
,ay any advance over former val
les for supplies. :
1t seems that bottom prices for the
present movement have already been
cached in the local livestock market, ,
md should there be no further change ,
n sentiment and arrivals do not null ,
iply It will in all probability bring
orth higher range Of quotations af-
er the recent storm has been for
-otten.
Promising Outlook for Sheep.
SO far rs the sheep market is con-
erned. the outlook could scarcely be
from what 1t Is at present.
While there were some arrivals In the
ards today the number was too
ominal to base any real quotations :
N, and therefore prices as printed
re not to be fully depended upon,
or they do not represent actual
at this time, as do those
n hogs and cattle, because no sales
# sheep have been made.
Some showing of weakness was
manifest yesterday in hogs, but after
cetting the market flat to 81 for the
,cst that came, the tone began to
how an Improvement today. and
while no actual transactions are
hown above 81. some interests are
,f the opinion that for select quality
fraction more could be obtainable.
Opinions of the Trade.
Tom Benson of C. II. Benson & Son
My personal opinion is that the
leavy run of cattle is over. I noticed
IN improved feeling in the market
his morning with an increase in in
luries."
T.. C. Sharkey.-"The market is
irmer all around today. The trade
g getting through the recent excite
nent and business will again settle
,ack to its normal standing"
S. p. Gould of Gould Commission
'o.-"Market for livestock is o. X.
or good stuff. The trouble of late
les been but a repetition of what has
at this time in recent years
too much fat stuff and too little
ood quality in the yards. Good cat
lie will sell all right and there is no