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About The Omaha morning bee. (Omaha [Neb.]) 1922-1927 | View Entire Issue (March 12, 1923)
The Business Barometer Th is Week's Outlook in Commerce, Finance, Agriculture and Industry Based on Current Developments. Hf THEODORE M. PRICE. Editor, Commerce and Finance, New York. Copyright. About five weeks ago, [ had an inter view with a distinguished European pub licist then visiting the United States in cognito. I asked him whether he thought 1 he Germans would attempt to expel the French by force of arms. He answered no, the Germans are without, arms, am munition, money or organization. The French could destroy them utterly in the first encounter. But is It not possible thflt Germany will Invite the red army of Russia to help her? I inquired. No. he replied, the Ger mans are anti-bolshevik to a man. They will not seek or accept Russian assistance. How then, I persisted, is the present dead lock to be broken? Ilia rejoinder was in abouWXhe following words: •'You may think my Ideas fantastic, but I predict when the Poincare govern ment falls., as fall it must as soon as the French people realize that the occupancy «»f the Ruhr is costing much and produc ing nothing, some Napoleon of the 20th i ontury will arise to lead the French^ in an attempt to subjugate and nnnex^ Ger many. Then England and the United .States will have to step in to preserve the world's balance of power. For." he added, “the present French republic is a bureau « racy, not a democracy. “By genius and temperament the French nre and always have been imperialistic. 1 Though they are still fearful of German aggression in the future they are monmn larily elated with victory and in their present mood they will find it easy to plead self-defens-- as an excuse for a pur suit of their traditional ambition." Poincare 1 npopulnt. I admit that as i listened to thi« prophecy it seemed fantastic. but the events that have since occurred are curi ously corroborative of it. The Poincare government Is manifestly becoming un popular. The French troops are daily advancing farther and farther into Germany. Last -week they took possession of the three big Rhine cities of Mannheim. Darmstadt and Karlsruhe, and the cables say that • the Parisian papers have simultaneously opened a lively debate about the objects of the French policy, revealing with great frankness designs which were indignantly disclaimed six weeks ago. It Is now ad mitted that what is presently sought is a new and comprehensive treaty that will supersede the treity pf Versailles and .11 one way or another secure for France >shat «he was prevented from obtaining by Vmerlcan and British opposition at Paris in 1919.'* Meantime it Is becoming apparent that Great Britain is attempting in every way possible to cement tho friendship between lie two great English, speaking nations of 1 bo world. H*v prompt acceptance of the debt settlement that we proposed was th* first step in this direction. \tnbassador Harvey’s presence at "a family luncheon' given by King George* «• Buckingham palace is another straw which shows the direction of the current and a\the recent by-elections in England tiring idoyd George's return to power nearer it becomes clearer and clearer th.it British* diplomacy is preparing for the t‘me when it will become necessary for to have the# passive if not active sup port of th* United States in opposing tho Imperialistic ambitions of France. Shortage of I^abor. 1 advert at length to condition* abroad, because it is there we must look for trouble If trouble comes, snd our domestic situation is so cloudless that r seems wise to be on guard against e possible rhango lr the weather. . The business revival in progress in the United States has in fact become so ac ! celerated that the manufacturers in some lines are tripping over each other's feet by bidding against one another for the labor they require. The result is that an advance in wages seems almost inevitable. This is particularly the case in the steel i business, where the demand is much in excess of the production that some con cerns are now sending th»dr salesmen around to allay the Impatience of their oustomers rather than to get new orders. PrlcM Tend Upward. With the country's barometric industry in this predicament it is not surprising that most commodities are tending up. ward. To this generalization there are some exceptions, but they are chiefly among the articles that have recently ad vanced in value. Rubber and sugar, for instance, have reacted slightly and wool is said to b« a shade easier in London and Australia, though the best-informed wool merchants insist that higher prices aro only a question of time and the statistical postion of the article does not justify bearishness. But the*»e are about the only staples that are lower. Cotton has continued Its upward ascent. 811k is firm and artifi cial «Mk is correspondingly higher. Copper and nearly all tho metals. espe< ially in are likewise strong. So are building ma terials, hardware, hides, leather, linen, paper and nearly everything else whose value is taken into consideration in com piling the ipdex numbers so frequently referred to by financial writer?. ThS New York state department of labor reports a wage level for January of#$26.21 a week as compared with a •peak’' of $28.93 in 1920 and a prewar fig ure of $12.70 in June, 1911. This in part explains the activity of the retail trade which is in turn reflected by an active wholesale demand. It is, however, to be admitted that there is still n healthy fear of a buyers' strike, and as yet there Is no disposition to specu late or 'accumulate unduly largo stocks. Railway Outlook Brighter. Tlx© outlook for the railways is growing rapidly brighter. Th*' traffic offering Is in excess of the facilities and the earn, ing* show continued gains. Many of the roads are ordering new equipment and some executive* are predicting tha* 1923 will he a >ear of exceptional prosperity for the transportation industry. On the stock exchange the railway shares icflect this expectation but the bond market still seems to be suffering from mild indigestion while some of the industrial stock© are being over-manipu lated by professional speculators who hope thereby to persuade a rather sated public to buy. The money market, though firmer, is < still well supplied with funds and the rumor that the Federal Iteserx ** banks would, again advance th*» rediscount rate appears iu be entirely without foundation, as the weekly sfatemertt shows a reserve ration unchanged at 7G.2 per '’ent and a. gain of $1 1,000,000 in gold r"*er\<*© with a reduction of $13,000,000, in bills dis counted. The reports from Cuba are most opti mistic reflecting the advance in sugar, and even Mexico appears to be feeling the proapert;' that pervades th© western hem sphere. If there were no eastern hemis phere to consider It might b© assumed that th© good times would last indefinitely or until the people of th© new world had bought all they could pay for. But there is an eastern hemisphere where thr-e.fourths of humanity live. We are not independent of it yet anti th© prudent man will watch with « 4k> © the history that is making there. • Trade Review. Knil of Knd of Fast Fast Week Previous Week Year Bank dealings < Bratlsireet * • in ihou M3. |7tW.iM $4,17M40 14.31*.37 J3j»lneM failure?. «?« <« fil? ... Federal Reserve ratio. . * •&-- * ‘ n - •* • » Security prices, N. Y. Stock Kxchar.ge 20 Industrials . . >... 1101 ;■* f i04.2n •jo Railroads . '*■JJ-J* iJ-jJ 40 Bonds . . • •• *• - * *' 68 8 • - - Commodity Priees . . . Wheat May delivery. Chicago . • * '8 * 5 ■ * * Corn. May delivery. Chicago. \ Pork. ribs. May delivery. Chicago Beef. gd. dressed steers Chicago . 15 00 15 . u s^ufar. refined. New York. *8-® rt*;° Coffee. Rio No. 7, New York . ... .13 "9.*_ Cotton, middling. New York .. -1-0 "'Is ! k ° Print cloths. New York .. 0*1* -°8,» Wool, domestic average. New York . .. S2 4'J * : .* .»!>. Silk. No. 1 Sinshiu. New York . .. > 9 J}_ Rubber, rrud^. plants. New York . * \ 'i> % Hides, pack. No. 1, New York r. JO 20 -JJ Iron. No. 2, Philadelphia . 30. n 2H.,b -J-J4 Steel billets. Pittsburgh. 40.00 40 00 '-3.00 Omaha Produce (By Stale Department of Agriculture Bureau of Markets and Marketing.) Corrected March 10. BUTT BP- , | Creamery—T.ocal jobbing price to retail- ! era. Extras. 5D; extra In 60-ib. tuba. IGe; j standard. 60c; firsts, 48c Dairy — Buyers are paying 34c for boat table butt-r (wrapped roll); JOc for •ommon, and 27c for clean packing atock. BUTTEJtF aT T.ocal buyers paying 33c at country ata tiona, 48c, delivered Omaha. EGOS ^ The ''gg market ia lower today. Moat buers are paying around J7.00 per a«e for fresh eggs. delivered Omaha. Stale held eggs at market value. .fobbirg price to retailers: Fresh: Spe c a is 3 $c; selects, 32c, • urr^nt receipt*. J0< , No. 1 email. 27c. poult r.r. Dive: Heavy hen* and puller*. Hr; light hen# and pulleta. 18c: spring rooster*, smooth lege, ltt' stag?, all sixes. 14c; ' apona ovr 5 Ins , -Q< , Leghorn poultry ; about Z< less; old cocks, 10c; duck#, fat. full feathered. IV... gees- fat. full feath- . -red 1 nr ; turkeys, fat. 3 lb*, and up, 20c; 1 no culla, sick or crippled poultry wanted. Jobbing price of rtrsased poultry to re tailer*: Broiler*. 38® 40c; springs. 29c; heavy hene, 25c; light ..eng, 26c; roosters, }« •; duck*, 27 ge-se. LSc; turkeys. 40c. BEEF CUTS The wholesale prices of beef cute in ef fect. today are ** follow*. Riba—No. J 27c; No. 2. 28c; No. t. 17c. I Doina—No. 1, 13c; No. 2. lie; No. 8. 19c Rounds—No. 1. 15Vfcc; No. 2. lie; No. *. 12c. Chucks—No. I, 12c; No. 2. 11 tic: No. *. 1 9 V*c. Plate#—No. I. 7%c: No. 2. 7c; No. I, 8c. CHKEBE. T.ocal Jobbers are telling Amerlcen r beeoe, fancy grade, at about the follow ing price#: Twin*. 26c; elr.gle dairies 28 Vic. double datale*. 26c; Young Ameri- ( 28c; longhorn, 27c, square prints, , 28 vie; brick. FEED. Omaha mills and jobbers are e-tllng their products In roiind lota at (he follow Ing prlcea. f. o. b. Omaha: Bran—(For Immediate delivery), $20 no; brown shorts. $31.00: gray shorts, $13 00. middling*. $34.00; reddog. $38.00; alfalfa, meal, choice, $28.80, No. 1. $26.10; No. 2. $22.60; linseed meal, $51.10; cottonseed meal. $51.20; hominy feed, whit- $29.50; yellow, $29 60; buttermilk, condensed. 6 to •» barrels. 8**c per lb.; flake buttermilk, f.00 to 1,600 lb*.. 7>4®5»r per lb.; egg *he!l«. dried and ground, 100-lb. bag*, $25.00 per ton. / FRUITS Pineapple*—Per crate. |7.00. Strawberries—Florida. 15o per quart. Baqgnao-—9c per pound Orange#—Extra fan^y (’alifornla ravel* per box. according to alze, $3.7605 76. choice, 25076c leas Lemon*—Extra California, 300 to *** sixes, per box, $8.00; choice. 300 to 110 sizes, $7.80; limes. 13.00 p*»r 100. Grapefruit—Florida, fancy. all *4 6005 60 per box; choice, 60e to $1.00 i«-ss. according to alze. Cranbarrlea—100-lb. bbl.. $7 00; 32-lb. box, $3.00; fancy Cape Cod late Howes, 60 qt boxes, $8.50. Apples—Dtlicioua. according to air*. C grade, per box, $1.500 2 76; Washing ton Jogathana. p*r box. 11 60 0 2.26; Grimaa Golden, fancy, per bbl., 96.60; Grime* Golden, choir*, per bbl. 13.60; Northern Spy, per box. 91.7a02.00; Hood River Winter Banana, fa/icy, 92.50; Hood River Winter Banana. choice, 92.00, Spltz enberger, fancy .per box, $7.76; Gann, fancy, per bbl. $4.76; Ben Pavia, fancy, pet bbl., 96.25; bom. 91.76; Willow Twigs per hbl . $5 00; Rome BeanMea. according to grade, per box, $1.6502.26; Newton rip pins, all alree, per box, 92.60, Parmaina, fancy, per box, $1.7602 60. Quince*—California, fancy, per box, 91.00. Flg»—California. 24 l-oz. carton boxes. • 2.75; 60 H-oz carton boxes, $3.76; Now Smyrna ftga, 6-lb. box, par lb., 26c. Data*—Hollowl. 70-lb butts. 10c per pound; Dromedary, 10 10-oz. rasas, 9176. Avocados—Alligator peats, per dozen. 112 09. ' Rhubarb, par crate $ft lha. net, 92 ?S. BRED. Omaha buyara are paying' the following piles* for field a*ed, »Li rusher run. de livered Omaha. Quotations are on the basis of hundredweight measure Seed—Alfalfa. $10.00014.00; red clover, $9 00016.00; aJeyke. $*.00014 00; tim othy, 14 0006.00; Sudan graee. 96.000 rt 00; whit# blossom sweat r.loxer, $4,00 0 • on. millet, high grade German. $2,000 ** b<i: common millet, 91.6002.00; amber sorghum can#. $2.0002.29. VEGETA BLEB. Potatoes—Nebraska No. J Ruaaell Rural#, sacked. 9) ID per rwt.; Nebraska Early Ohio# So. 1, 91.26 P«r cwt ; No 2, 76o to $1,00; Minnesota Red River Ohloa, No. 1, • 140 per cwt.# Colorado No. 1 Brown Beauties. 11.35 per «Wt : Idaho Rural*, *1.3." per cwt.j Idaho Ru*set Burbank-. 11.60. A few new potatoes from Florida are on sale, price (market). Sweet Potatoes—Bushel crate*, about 45 lbs. *2.00; Porto RloO Red*, crate*, about 50 lba . $2.25. Radishes—New southern, dozen Punches, tOc. Old Roofs—Beets, carrots, turnips par. snips, rutabaga*, per pound, 2^c; in sack*, per pound. 2tyc. Now Roots—Southern turnips. beets, carrot*, per dozen hunch**, *nc Lettuce—California hood (♦ do*.), per crate. *4.25: per doz., 31.10; hothouse leaf, per doaen. 50® 60c. Onions—Southern f new) per dozen bunches. 80c; Ohio Whltea. 15.00 psr cwt.; Red Globes. p*r lb 3c; yellow, p*r lb, 3o; imported Spanish, per crate, 12 60. j Artichoke*—Per dozen. 32 50. Peppers—Green, market basket, 55c per pound. Mushroom.-..—Too per pound F.gg Plant—Selected. per poti*id 20c Tomato**—Fancy red i.pe Mexl an, 28 lb. lub, 12 00. Beana—Southern wax or green, pet hamper, 15.60. Peas—New southern stock. Mo per lb. Cabbag*—25-60 pound*, b', In orate*, per pound, 4 V; red < abbas* per pound, 5c: celery cabbage, per pound, loc; Drug ■ell sprouts, per pound. 25c. Asparagus—Per lb.. 75c Celery—California p*r dozen, according to six*. *1 35 to 11.86; California (not trimmed) per crafe^-17.00. Shallot*. Parsley—Dozen bunches. 76c. Spinach—Per bushel. 11.50. Garik—Per pound. 25c. cauliflower—California, per crate, 32 00 0 2.50. Cucumbers—Hothouse, par doz , 13 00® 3.50. Onion Sets—Red, 12.85; yellow, 12 66; white. 33 15. FLOUR First paten*, in 9* lb. bag*. *6 40 per bb!.; fancy clear, in 49-lb. bag*. *5 26 p»r bbl. White or yellow rornmeal. per cwt., 11.76. Quotation* are for round lota f. o, b Omaha. If AT . Price* at which omsha dealers, ere selling tn carload lota follow Upland Prairie—No. 1, *1 5 00® IS.50; No. 3. S12.6O013.SO. Midland Prairie— No. 1, 114 A0® 1 3.00; No 2. 311 50® 13.50; No 3 3" 0009 AO Lowland Prairie—Nf 1, 310.00® 4 2.00; No. 2, 37 00 00.00. Alfalfa—Choice. 122.000 23 00: No. 1. |?0.00®2100; standard, * 11.00® 18.00; No. 2, 11*.5001*.00. Straw—Oat. 8*.00®».60; wheat. 37.000 1.00. HIDES. TALLOW. WOOL. Prices printed below are on the bads of buyers' welghta and selections, deliver* ed Omaha: Hide*—Current hide* No. 1, 11c; No. *. 10» ; green hides, 9 end 8c. hulls, 8c and 7'-. branded hide*, */•; glue hides, 5c; kip. lie and ]0c; deeone, 75c each; glue elf arid kip, 6f'; horse hld^», 34 00 and 33.00; pontes and glue*. 31.75 each; <olt*. 25c each; hog skins, 15<- each; dry hide*. N>». I, 14c per lb ; dry aalt* d, 11c; dry glue, ; ■ . Wool —Wool pelt*. 31.25 to *2 25 for full woolsd skins; spring lamb*. 7 6e tn *1. 0, for late taka off; clip*, no value; wool, 33 045'-. Tallow and Grease—No, 1 tallow. *c; B tallow, 7c. No 2 tallow, f.c; A greaxo, **'•; B grea■* 7c; yellow green*. 6t*c; brown grease, fh Cracklings—rork, 380 per ton; beef, 369 per ton. M. Joseph IJtMtmk. Bt Joseph, Mo. March 10.—Hog«- Re cfip»*. .1.000 head; market active, strop* to 6c higher; packer top, I* 10; shipper top, 96 06; packing low*, steady to strong, hulk. $7.25 07.X5. «'attle--Receipt*. 100 head; compared with week ago beef steers and yearling*. 15 to 25c lower; beef cow*. uteily to 16c lower; tanner* and cun«r*. hull* and 'Mocker* and feeder*, steady; veal 'alvrs 9I.OQ01.6O lower, for week. desirable beef steers and >c«rllnge 97.500*:;.'.; b. ef cow*. 9 0006.00 heifers In load j lot*. 96.0907.95; tanner* and cutler*. I'! f>0 0 4 25. bulls, 94.2605.23; %e*| calves, 9* 5000.40; stacker* and feedei*. 96.50© 6.26. Hheep and Iambi—Receipt*. 1,50ft be.id; today s receipts direct to ln<al feed lota; ' omparad with week ago; fat lambs, 15 i to ptr lower; sheep, steady, hulk prices | for wee„ fa» lambs. 911 OO0J4 6O; clos ing top, 914.40; a few yearlings Monday. 912.95; fat awes. 9* 6006 7*. J New York l»rjr <«o«m|*. New York, March 10 Cotton good* were quieter In unfinished line* with price* generally stead}. Finished line* continued firm and sales were smaller. Burlap* were steady Cotton sin* w*re firm with trading moderate Wed goods were firm In first hand* Bilk* continued in fair demand Minns*poll* Flour Minneapolis Minn March 10 — liout— 1 Uncharged. Trade Review By K. <J. DIN tt CO. Further evidence of the decisive charac ter of the domestic business recovery is found in the current returns of production in basic industries. No previous February has shown a pig \ron output equal to last month's turnover, v. bile steel w orks, auto mqbilo plants and textile mills, among other enterprises, are running at a high rate. The revival ha» net come sudden ly, having been under way for many months, but the movement this year has been at an accelerated pace. Purchasing merely to cover Immediate or nearby needs long had been the prevailing prao. tier, whereas the present policy in many Instances is on© of securing protection against distant requirements. Demands extending into the third quarter arc not uncommon, yet the sold-up condition of various manufacturers precludes the ac ceptance of all orders, and not a few sell ers hav» withdrawn from tho markets. It is reassuring, in the circumstances, that • •fforts are being made to curb specula tive tendencies, although the rise of prices has not been checked and buyers whose supplies must bo quickly replen ished are ready to pay premiums where advantages on shipments arc obtainable. Delays in transportation. however. fre quently aro complained of, with storms in some sections aggravating this difficulty, and numerous commitments are being held in abeyance because of fnnbility to secure early deliveries. The general com mercial situation. Is marked by phases "hitth leav© no doubt as to their mean ing. and it is nearly every#here recog nized now that business, with compara tively few exceptions, is experiencing rapid expansion. Decline in Business Mortality. Following precedent, commercial fail ures decreased in«numbci* during February and contraction also occurred in amount of liabilities. With 1.508 defaults last month's returns show a numerical reduc tion of fully 29 per cent from the January total, which Mas the largest reported aince last April, and the February indebt, edness of about $40,000,000 was smaller by more than 17 per cent. Further analysis of the insolvency statistics discloses the fact that there were fewer failures In February than In any previous month hack to September, 1-921. and a decline <,f some 35 per cent appears In comparison with the 2.331 defaults of February, last year. More than this, last months lia bilities show a decrease of 4 4 j »t cent, from those of February. 1922. when the sum involved was unprecedented for the period. < oinmldit.T price Rise Extended As had been expected, the monthly in-1 dex numbers Uiclose a further extension of the commodity price upturn. Dun s compilation, which makes Allowance for j the relative Importance of the many dif ferent articles included in the record, ■ hows that the net rise during February was about 2’^ per cent, following an in significant change m January. More or less advance in th# general price level ' has occurred m each of the last six months, and tlic present Index number figure of $191,167. representing the cost per capita of a year's supply of commodi ties. mark" the highest point touched since the beginning of 1921 From the low basis reached on the decline in that year, there has been a recover/ of a!- ! most 20 per cent and many additional price increases have been established thus far in the current month. This week, fori example, Dun's roinproheusi vo list of wholesale quotation* reveals a large ex cess of advances, 70 of the 9 4 revisions being in an upward direction. Record February Iron Output. Not only were all previous February) records of pig iron output surpassed last mouth, hu? the dally average make. at 106.93 5 tons, was the larg# st reported since March. 192*' The net gain in active fur naces in February, according to The Iron Age. was 16. and the 278 furnaces in oper- i atlon at the beginning of the current month were producing at a rate in execs* «>f 40,000.000 tons per annum. Despite this fact pig iron prices are still rising, the week's advances ranging from 50c to $_' per ion and occurring in different di«- i tricts. In steel, moreover, higher levels have been reached, and the •xpert^d up- ■ • urn in warehouse prices also has de veloped while the pric" element has <au*ed postponement of some commitments, in ability to secure deliveries is the mom In fluence in limiting new business. Firm Textile Markets Prevail. No halting of the rise of textile price*, had been witnessed, aside from a trend toward easing in foreign wool markets Published quotation* this WMl show a, number of addition.*! advance* in staple dry goods in this country, despite the re • ent considerable upturn and pressure for higher wage* by mill operatives is ’still noted in dirf*rent manufacturing cen ters. Reports of current business con tinue of an optimistic character, with « more active distribution in both whole sale and retail channels, arid all merchan-. disc under order seems to be wanted. The , point lias been reached In sonic Instances, Indeed, where it has been necessary to withdraw off* rings o limit buyers’ com- > niltments. .and more of an effort has been made to restrain speculative tendencies.! Meantime, delays in transportation arc complained of in sections where tho win- , ter .s breaking up slowly Domestic Hide Trading Dull. Unlike conditions in most other impor tant branches of business, tho domestic hide trade still reflect* dullness. Activity In this quarter has been lacking much of this > eat and the present season for poor er.quality mock not unnaturally leads to some easing of price* In contrast, foreign hides are in larg demand, with h* av> purchasing of R * r Plat*’ descriptions by American sole leather tanners <<t further advances. irregularities continue appar ent in lh° leather market, both as to bus ns-* and prices, and there is some un •ertaint> in footwear circles regarding i. livers’ action after Fin star t us!i orders are completed. On the whole, however, ’ho outlook in tfi* h *i. trad* and * ’i*'l nnea is not unfavorable, ami It is ’he r * pe* tstion of som Interest* that : "n<”* 'd activity will develop before long tn chsn nr.s where quietness now prevails Banket Hearing* Hank cdearlngs In the United State* for The week ending March #, reported ^ by > 1 legruph to Bra detract'* tourr.i ,V *v York, aggregate $7,996. .00" again*' »* ■*97.*.> 2.0"* l.iat week and $6,336,372.0*0 In , his week law' year Canadian •tearing* .UK regale f .71.762.00* »: aga.iit’ $221,365. (»*" Jaw' week and 1243,769.000 1 ** 'his M-**k last year. Following ire the return* for thla week and last, with percentage* of change shown thla week as compared with th s v.ccji last year: March 6. Mart h 1 N'#w York *4 H4:!."00.0n0 $4fc94‘ . to* "** Chicago *67,71 2 00" ,,as.K4*.000 Philadelphia 46 4,"00t ooo . 3.**0.000 nonton 39*.on*.*** 4*4 ***.*** Man Francl»c« 152.60*.0*0 161.700.*00 K*r«Hi fin- . T50.t **«•'". l60.S6l.000 Petrnlt 117.731.000 1 39 061,000 I.o* Angeie* . 132.011.*** r.»,*«l.**0 fleveland . J02.6J4.00* 1*9.693**0 Minneapolis ... 61,367.000 66.133.*** . inclnnati 7!.|4J**0 7.. 04 4.*** New Orleans 55 357.000 -!*.**$.*** III. hmond . 50,297,0"" 31,500,"00 Atlanta , 54.711.""" S*t.#M lluf'.lo 41,MX."00 4 " 114,0"" Omni,. .-,8,«07,mi» rT.rio.ixm K.,111. . . . . 3.VMM** :.7.5144.000 Portland, Or** :,3,559."0o 52.157.""" Mnooukoo . .'.4 "9 4,0*0 .4.4:.*.«»» IKin.r . . .14.1:1.""" |,,l|,. 51,144,""# 1f.0K.o0" l.ool.vlllo ,7 54,000 44.000 H»uoton . 35.042.oon I >.74 <■"" BirminKhain 9.054.000 l.02".ooo , ,.41 n h>>in o '.’1,770.00# - ;."9‘4.0O" M.innhn 15.3*1.*** '4.744,00" IVith.n,. D > 21.#13.041* 30.314."*# i SI Paul 14.374,0*0 1 4.443 00* IndUnopolio :o,J#l.noo 31.3*4.ooo ( N'.ohvlllo "0 314 000 14.414 000, (•olumhu. .. 1" 417,00" 14.14".""" Ooklond 14 417.""0 H,J«4."«# lull l.oko (':>•. 1 ■■ 001 ooo I ' 4*7 000 Provld»4P» .. . 11.401 000 lt.1Tl.40* Port Worth 10.173.000 to. ,11,00* , Wl> him ... 1 1.550,000 10,703 000 lla, loioir' . 11.130.*#* I 0.490.00*1 Do, \4..|n-4 . . I' *10 000 10.771.00# Norfolk .. 4 "01.00* 4,950.000 liou.kion . 4,144.0O# , 04: ooo Akron , ...... f.,0 44 *»# 3,940 000 Ainu a Ctly . 0 340,000 " 404,000 I'll, oh’imh 1,3.149.000 1 7 1.534.000 Kaltlmnr- 104.444000 34,470,000 N«w#rk. N J. . ls.om.ooo 13,>42.00* Total 1 f*. 1 . .935,563,000 14,117,492.""# Weekly Food Index l<ower llrgdatreet * Fond Index Number, baaed on the vx hoieaale price a per pouhd of 'I • rliflti until for food. Ip 13.41. com paring with $.14'..* |a*t week and $ a 2 J far the work ending Mg mil • l *22 'I >»la week a number ahowa n lo*p t»f • 1 •• of 1 per «*<*nt from Imp wnk but a gain of •> per * ml ovar the Ilk" week of l««l year. Imraaa-d Wheat, apring. corn. barley, abort 11 ha. tallow. lard, aitgar. refined; i .,ffr«», eoU'inio il nil. b»ana, potato* *. ph«ep, Jlv»T la to be, live, condemn'd milk; evaporated milk, cotton, print clothe. p»*»yi good*, brown ahert Inga, pig Iron. I.leaa; pig Iron, southern; ateel bllleta. H- **; et»*e| bill eta. r»-||, pl#r | bat a. »gr w b*« I- old. I'lillftdelpbla <.*i whnela. old. t hlCftgo; ateri Hrrap, ('hit ago «-a*t iron. « hi* ago; topper, lead, antimony, tin spelter I »«o r*'i»** d Wh'-at. r* d :* butte,', augae, raw rgga, riiamr. Prune** haeye* llv*. hoge, live; oleo nil. hldee bay, mbbrr Weekly Failures riiid:V‘* fallutea to* th*> r • eg idmg March * number 4. w|»b h compniea with 4ft’ taut weak ft It In the like • h • •f lil#, 323 In 1*11. It** in I9.*9 and 111 In 191*. Financial New York, March 11.—In the preva lent mood of Wall street and of the Wall street constituency, the down ward reaction in the stock market that occurred last week is regarded with chagrin and disappointment. In some Quarters it was ascribed wholly to random talk of immediate marking up of the reserve bank rate with a view to stopping the rise of prices. Others ascribed the weakness entire ly to the machinations of unscrupulous "hears.” A few seemed to have be come uneasy as to whether the week's halt in the rise of stocks might, not mean that reaction in general trade was presently to ho expected. Pretty nearly all the views expressed in Wall street offices took it for granted that the pause in the advance was an unpleasant and on the whole an unnatural occurrence. Theories Reasonable. The Wall street theories regarding last | week's declines were reasonable enough, but they hardly determined anything. No serious person looks for the progressive marking up of the reserve bank rate at a time when the existing rate Is close to open market quotations, when the hank's reserve percentagH La at the highest of the year and only a fraction less than s year ago. and when the hanks redis counts are at the lowest figure sin> *: the release of • redils in the early "January ; settlements. * That tht rate would be advanced If speculation in stocks and commodities were to break all restraint, with sharp rise In open market money rates and con sequent very rapid expansion Of redls. counts at the reserve bank. U a foregone < conclusion. Hut K is no morn a certainty j than it vui.i weeks or months ngo—except perhaps that the recent readjustment of the New York bank's rata to that of the other federal banks may have been a re minder of the fact. Speculation Necessary. As for the unscrupulous "bears.'' Wall street is really aware that the morality . speculative filing for Urn decline is no worse and no hotter thafi the morality of speculative buying for the rise it knows , thst there always will be and always must be speculative sales and specu lative purchase*, but that when the mar- . k*»t moved distinctly In hue with on*' or the other set of operation*, the inference is reasonable that other people than the “beAra" were selling The Idea that sign* of r action on the i Stock Ki< hong** must mean «ub*e«iuent slackening of business activities would j hive more to commend It if the stock | market never overdid its prophetic funr- , ti* .,s. Hut in thi* matter, too. Wall Street's experience teaches that the stock market usually "over discounts" immedi- i ate MS lie Jesuit* AV hen thi* happens, the pin ' of i««lvuu* • • an never be main tained. Iteartlona occur on the stock ex change, sometimes severe reaction*. yet It t<n* often epoi*gh happened thUt later development* proved the traJe boom to be actually grr>.1er that* the market had imagined. even before tho decline on the stock exchange occurred The point la. that ci millions which wet* plainly in •evidence In September or October were only h matter of conjecture in February or March. Memory Short. The IVa'J street metre ry is sometime* Ihort, Otherwise it would not have for gotten i hut r vi.n iu ♦he "room year ’ 1919. the rapid ; d‘S*ice r lit h occurred on the r.t »• ;< exchange between February and Jum w«4 violently ir.t< rrup.fd, during the inn t.* r r erth*. Ly a d-cline which car ried down Many speculative stocks as ii’ir h os jc *■ if pec cert. Yet the whole market went higher full In the autumn The ‘war markets" of 191 j and 19H on th* stork exchange were similarly Interrupted by severe reaction, although they certainly foreshadowed fu ture events correctly 4 New York timerul ,\fw York Match lrt.—Whrfl—Spot d rk • ' tktrfl m • i k. I f trot.. New York, export. II.No. 2 red winter e ; f *ra k New ^ . rk, d«»m** ll.AO. t • to# f tra«-k New York, export. Si ' 2 *4 . No. 1 Manitoba, r. f track New Ynifc, ’ export, $1 29. and No 2 durum (1 2l»*. t orn Spot, f mer. No. yellow and i No white, i j. f New Yori , a!! rail, j 92 S' : No. 2 jf txed, < i f Xen York, all rai!. 92c * Chicks Will Grow Faster, — stronger, healthier, too, if they’re rightly fed. The easiest way to make bone, muscle, and feathers, in the little bodies is to feed Pratts Buttermilk Baby Chick Food I II the original “hah>-food for II hahvchiib1'—containuthe || hne*t ingredient* lor healthy || growth ami prcventingthici ■ ailment*, fry it— M "Kour Monty fin k tf YOU $$ Art Not SotitfitJ'* I T'rtrfi a Pratt it tier nttrytm [ PRATT FOOD CO. Pkilt., CkicM*. TiimIc »»ATTS 50 »'*■*» \ i»\ nti IHSm H i Lift Off with Fingers Dooant hurt a bit’ Drop n little “Freeitone on an in hlng corn. Inatant* ly that corn atop* but ting, then abort* ly vnu lift It tight off with finger*. Tnt»>! Your ilruggiat eella » til \ bottle of T'leeamie" for m few rent", aufTlrlent to remove every hard corn, aoft corn, or corn between the toes, and the MtlltJAeif, without aorrneaa ur nrlta 1 Hun. Chicago Grain Chicago, March 11.—The grain trade continues it* waiting mood, as it has for more than a month. Every effort has been made for two months to get prices down to about the same as two months ago and corn is higher, while oats ore practically unchanged. There is a feeling in certain quar ters among wheat traders that the market is due for a small advance which would lift it out. of the rut. There has been an unusual amount of bearishness on the part of pro fessionals and a confident feeling that wheat and corn should do materially better. The latter interest is re garded as heavily long on the theory that grains have not advanced in pro portion to cotton, tobacco, sugar and steel. The farmer is dissatisfied be cause many things that he has to buy are higher, while grains have not advanced proportionately. Supplied More Than Demand. It is a supply and demand situation with the supplies in the United States and Canada larger than the demand. Canadian ( wheat is offered at eastern lake ports 1 around Go under Chicago May. which la against a large export movement in American hard winters. Kxporiera have lost money for months and some of the 1 largest cash handlers have lost more in the last two months than they generally j make in the entire year. Those who are bearish say that there must b) a larger and more general ex. port and milling demand to absorb the offerings and prevent a decline in prices. ' Unless there is a decided Improvement in the cash situation In the near future, they look for lower prices. Hard winters are selling here on a delivery basis and . there is a prospect of fair supplies being sent here front the west and nouthweM. Chicago stock, however, are under 1, 000,000 bushels, which Is small, consider ing the amount of grain hedged here, in cluding the big amount on ocean passage and on the varou* position! throughout the world. This, in a measure, tends to offset the bearishness for the time being. Big Carryover f>ike|.r. Farm reserves as given by the gov ernment on March 1. of 133,000.000 bush- j ei« suggest an available surplus lor ex port and carryover at the end of the season around 150.000.000 bushels The , normal carryover la 16,000,000 bushels. < orn traders are mostly losing. The country is ^aid to hav« bought to the saturation point and await" new develop, merits The gmernn>#it report on farm i reserves of 1 07K.OUO.eoo bushela was J16. oO'enoo bushels less than last jear. Feeding operations continue large and those «ho «re extremely bullish claim that farm reserves are less than the consumption of the P^xt etasons. How much of this bullishness has been discounted by the advance tn price is f rona Old French Canada—Montreal and Quebec—to Old World Capital*. Frequent aailinc*. Everythmg Cana dian Pacific Standard — lAe uhttnak trt tmml cum fori. Abe luxurcrm* Mon - oclaaa (one ciaaa) Cabin Ship*— "ire tccxatic aer'.Tc* at democratic Urea." Further mformutum from locul tteumihtp ugentf or K S. EL WORTHY, Gen Aft- S. S. Pa*e. Dept 40 N. Dearborn Street. Chicago Canadian Pacific IT SPANS THI WOSIO “The Comfort Route" to EUROPE N*» York-Charboarf-Saulhimatai-Hiwburt Tnauri'iMad AffomnwUUon »nd fkrf. •• Fit utMot flalttim fiam *tl" Mu Oh , | o I . .• •. Ill «.»%#« Othiti • I 1 1 - ‘ORFy TA" March 14. May 5. Juna 9 •ORCA- March 31, May 12 Juna 16 •ORDUNA’ April 14. May 19, Juna 23. “OHIO’* April 21, Juna 2. July 7. Full Inform*; *n fr m Ij ■ af Ai*t.»i or Tha Royal Mail 5taam Pacha* Co 117 Writ Wa*hl*«ton Stria* CHICAGO the problem that is worrying the trade. Kuktern Trade limited. Export buying of corn is light and the eastern consumptive trade la limited. A point made by those who are strongly in favor of higher prices is that Chicago, western and northwestern points have only 20.500,000 bushels of corn, or rt'-arly 7.000,000 bushels lews than last year. They think the movement from the country will let up after this week, while on the oth'*r hand it 1s claimed that unless there ih a big demand there will be heavy de liveries on May contracts and that should liquidation by outside holders get under way jn large volume, >aiues will decline sharply. Elevator and cash Interests are chang ing their hedges In oats from May to July at >4 0 difference and have done consid erable of late. Aside from this there is little trading In a speculative way. »w York Cotton. New York, March 10.—The near months were under pressure and the distant months were more in demand In today’s quiet session on the local cotton exchange. After starting around Friday night's clos ing quotations, considerable liquidation of th« near postions appeared and there was some switching from the old to the new. On the whole, however, trading \va» rath er narrow. The market was rather quiet during the final hour and the near months rallied somewhat above the early low levels. Some profit-taking appeared in the diatant de- i liveries, but it was readily absorbed at a moderate recession under the early high level. The market dosed 1 point higher In the present crop months and 13 to 21 points higher in the new crop months. Far deliveries received most of the at tention, due to the unfavorable weather in the belt. Spot cotton xvas quiet, unchanged, 30.75c for middling upland** Southern markets: Galveston 30 *9c, un changed; New Orleana 10 75c, 25 points Typewriter Repairs'on Any Kind of Machine We sell as well as repair all kinds of typewriters. We guarantee both our typewrit ers and our repair work. All-Makes Typewriter Co. 205 South 18th Street NOW AND ALL WEEK GEO. LOVETT & CO. -in— “Concentration” The absolute climax of all sensational offerings Also Three Other Big Acts and Bebe Daniels Lewis Stone in “The World's Applause” A Paramount Picture decline; Savannah 30.36c, 6 point* decline; ! Augusta 30.26c. unchanged; Memphis, 81.00c. unchanged; -vHouaton 30.75c, un changed; Little Rock 30.00c, 35 points decline. St. l4>0lft IJvf*tork, Hast fir. Louis, III , March 10. — Cattl* | —Receipts, 300 head; compared with week ago; Reef steers weak to 26c lower; choice light yearling* an* heifer*, steady; other* and beef cows, 15 to 26c lower; csnnera, hull* and stocHers and feeders, steady; light vealera. 60c higher; top steer* for week 19.50: top light yearling*, $9.25; bulk for week. Steers, $7 26# 6.76; yearlings, $7 25#&!50; cow*. $4 76# 6.00; * anner*. $2.85#3.00; bologna bulls, $4 50# 5.00. Hogs—Receipt*. 6,300 heads; mostly 19c higher; spots, J6c higher; few heavie* 5 to 10c higher; top, $4 50; bulks follow: 130 to 190-pound average*. $4.4006.46; j 19<» to 220-pounds, $ft.35#4.40; ...0-pounds ■ and up. $8.26#6.36; pigs. steady, bulk j desirable weights, $7.25#7.7»; packer i sow*. |7.00#7.25. St. liAiiift Grain. St. T.ouia. Mo.. March 10.—Cloac: wheat May. fl.lfl % ; July. $1 11%. Torn—May. 75%c; July, 76%c. Oats—May. 46c. CHICAGO CLOSING PRICES. By Updiko Gr»tn Co. AT. 631?. JA. ?I47* Art. 1 Op«*n. | fllfh. 1 Low. | Clowe. | Tf« Wht. I I May 1.10 I M0% 1 1 20%; July 1 1.16* 1,15% 1 1.10% Sept. I 1 11% 1.13%! MSS Rye I May | .14 % I .14', July .52 S -S3 % rorn I May | .74%] .73 j .74%! July j .74%! .7T ] Sept 1 .77% .77% Oafe ! May ! .44% .45% ! .45 July .44% .441,' Sept. .43% .43%' Lard ! May 111*; 12.00 July 1203 12 10 Riba | May 11.15 1115 July 111.25 11.SO J US 1 US' 1 11'. I 1.19*1 JUS 1.144' 1.14* 1 1'. ! 1.14S 1.15 , i n*;' i u* i.j: 1.15* •»84; .*s»i ,»:s • 814: *82 .824 •'«H .744 .74* .74* •7«V .7*4 .78 4 I .78'. •778# : -77*1 .77 4*4 .44 * .44 * 444 .44*' .444 44 4 .43 .43 .42 11.82 'l 2.00 1| Jl 12.02 ,12.10 13 10 Ills ill.IS 11,10 11.25 1J 30 I J 2T WftKIMH Jt Free for Ladies Only Two Scientific Lectures on BEAUTY CULTURE By Dr. Felix Cristion Sg-President of the College of Besuty Culture. ari». who reveal* the things every woman shouM tnowr Assisted by Mme. May., one of the most .eautifu! women of her. age. who will appear in he Pans latest styles of Dress and Hat. Today Lecture FREE—Tuesday Afternoon. Admls mission 50e, Plus Ta*. NOW PLAYING ( Jtut L LA3KY FUJSrrt X Cecil B. DeMi lie's PHO DUCTION Adam's Rib' •m MILTON SILLS ■ LLIOTT CIXTZR THSODORI 1C 01 LOTT ANNA ft. NILSSON IN PAULINE GABON N Ct (paramount Q>ictm J Twice as Spectacular as “THE STORM” So Voted SUNDAY’S AUDIENCE When They Saw “Burning Timber” at the Mu..i.en, 25c—Evenings, 35c Evary Day, 2:15 and 8:15. Now Play inf JOHN B. HYMER & CO in "Tom Walker in Piaie'* •‘THE SPEEDERS” with JACK MUXPY Frank Horst and Eddie Vogt Alfrieda Wynof A C»orf« Simpnd*t in **A FIRESIDE REVERIE** Eric Zardo Tha Harbarta Topic a of tha Day —• Aeaop'a Fab Ira Paths Nrw> ED— —BLANCHE PRESSI.F.R * KLAISS A Livtly Pin Matin***. J5c to 50c, Nifhta. 15c to $1 | Vaudeville—Photoplays NOW PLAYING “CHEYENNE DAYS” and a great 6-ACT BILL Photoplay Featuro VIOLA DANA “Love in the Dark” _; 12 REELS IN ALL WEEK [wl^ll!! WEEK D. W. Griffith’s “Hearts of the World” 10 reels of the master pro ducer’s supreme picture. 12 RFEL^j "The Leather Puahert" “WHEN KANE MET ABEL” NEIGHBORHOOD THEATER5 VICTORIA .... 24th and Fort ALL-STAR CAST is "THE ROSARY" GRAND - - - - I*th' >nd Bin-try SPECIAL PRODUCTION "QUINCY ADAMS SAWYER" HAMILTON - - - *Otb and Ha»a-.ito» ALL-STAR CAST "QUINCY ADAMS SAWYER" Bark Horn# Attar Tkrrr Yaara’ Akaani a THE WORLD FAMOUS DANCING TEAM STONE & PILLARD J33f big show , CHEAT CAST: BIG BEAUTY CHORLS Ladlat Tick#!*. 13* ^ ?!c Dally 2 S [T'./.i y i ftMl |i AT-L ANTIC 1000 y Omaha Bee “Want” Ads are no further away from you than your telephone. You will find the telephone a convenient method of placing your “Want” Ad in The Omaha Bee. Remember. Omaha Bee “Want" Ads are guarant ted to bring as good or better results than you will secure through any other Omaha newspaper and at less cost—or money refunded. AT-L A NTIC 1000