10
THE REEs OMAHA. FRIDAY. MAY 2. 1922.
8 if
11
Market, Financial and Industrial News of the Day
HIM Vt kMW
Omaha Grain
Liverpool market ai aion lower
ana! advice Irom that market ft)
ofirrmit continue in liberal volume
and demand noticeably leu active;
parcel offered at concettionary
pnrei.
Thert were 8.' I. OH) buthelt of cah
wheat delivered on May contract in
Chicago, and receipt! in that market
continut liberal.
Runt were again reported in many
itctiom and advice from the grow
ing cropi it generally favorable, es
pecially apring wheat, in the north
wett. Export butineit in all graint
quiet
Receipt! in Omaha were liht. 34
can of wheat, 82 can of corn and
21 can of oat being reported in.
Thii, compared with a similar run
latt year. .
Shipment of 20J can of wheat
wai again the feature of the move
ment. All market continue on the down
grade today, wheat allotting the
greateit wcaknet. Sale: of caUt
wheat in the Omaha market were
made at price ranging from Sc to
oc lower.
Corn told readily and wat in good
demand at unchanged to Uc lower.
Oat told generally unchanged.
Rye wai 2c lower and barley un
changed. WHEAT.
No. t ward winter: I tar. It :.
No. t herd inter: 1 rar (1 per rint
dark), 11.14: I rar limutlll. I I .
No. ( hard winter: 1 rar famuttvl, tl SI.
He. 4 hard winter: I rar temiitty), 11.11.
No. t MM yellow: 1 car. 1 1 :
No, 1 yellow hard: I rar. II. II.
Na. I mtied: 1-1 rar (durum. II II.
Na. I miied: I rar tdurumi, tt.lS: 1
rar (14 par rant hard vrlnlor, ;4 par
cant durum, emutivt. II It.
CORN".
Na. I white: 1 car. 14c.
No. I while: I vara. lIMe: t rara
tahippara' wonhtal. II -4-.
No. I white: t cara. 41 W.
No. I yellow: I rar tahippara' weishla).
IV: rara, 14 l-4oj I cara, t4jc; I
car (no bill. 14 He
No. I yellow; 1 rar. 14 He
Na. t mlaed: I cara, tlc; 1 car (no
in). tm.
No. I mliad: 1 rar. tie.
OATS.
No. t whlta: rara. lie; 1 ear IIVlo;
1 rar (aparlal htlla). JIHe.
No. 4 whllo: I car. Ue; rara. Hie.
t ear oata aad nriey mlird, 144c
RTE.
No. I: 1 rar, lr.
1 rar No. 1: wheat, 11 par cant; rji,
OMAHA RECEIPTS AND SHIPMENTS.
trioi. j
'I!
Chicago Gain Live Stock . Financial
tteelpts
Whaat
Corn ,
Oata .
Rye
Barley
Shlpmente
Whaat
Cora
Oata
Wy
Barlay
Today.
1
,
. 1
. t
.IM "
. 44
. 14
. 11
1
Welc
A (a.
1
4
II
7
I
ST
M
It
t
OI.OO
mi ana
'ai4no 1,1 n. oho
,nno i.&sz,ni
7S7.0M 117,000
ni.ano i.nji.oon
Tear
Am.
ll
IS
"a
at
44
PRIMARY RECEIPTS AND SHIPMENT!
Tteeelnts Today. Wk. An. Tr. Aero.
Whaat t.lM.oaa
corn Tll.ooa
Oata I74.0AO
Shlpmente
Whaat 1,47M
Corn . . .
oata r"-'L" ."
EXPORT CLIA.v.a
Bushel Today. Year Ago.
Whaat and flour 451.00) SJ1.000
Oata s li2-
CHICAUU M.mri.
Week
Carlota Today Afo.
Whaat .'
Cora , I"
U KANSAS ' CITT RECEI PTS.
Wheat . . "I
Corn -
ta . 11
ST. LOUIS RECEIPTS.
Whaat ' "
J?
USIS . wrir-ra
NORTHWESTERN wheai
Ulnasapolis 12 "J "J
Duluth " ,!!
Wlanlpes 14t 181
CHICAGO CLOSING FRit...
By TJpdlfc Oraln Co. DO. St- May tt.
Art. I Opsn. I Hlth. I Low. I Close, I Tr
61.000
:5.ooo
733.000
411,000
Tear
Aao.
41
III
103
107
13
TS
ft
41
wnt.
May
July
Sept.
Rya
May
July
Sop.
Corn
May
July
Sapt.
Oata
May
July
Sept.
Pork
Ma
I.ard
May
July
Rlba
May
July
111
mo
1.51
i.im
1.1114
1.17
l.M
l.aitt
.11
.tH
.61
.
.!
l.ai
tiiii
i.o:4
mm
V.joH
V.i"
1.014
1.01S
.I5H
.n
.43 4i
.851
.17
.31
".a "
ti.ii
11.4
Hit
11.47
.0
.81
".4
.34
.37
731!
11. SO
11.40
in. is in it Jim
1.21
l.!l
1.214
1.31
1.17H
1.1
1.02
1.02
.40
.!
.41
.46
.11
.31
".'sVk
23. 2S
I
11.32
11.47 13.10
11.00
LIS
1.32
1.22
1.22
1.11
1.11
1.04H
1.04 .
.
.so
.13
.43
.
.17
.34
.3
2J.J0
11.27
11.17
11.50
11.10
Chirac Potato!.
' Chlcaeo, May SI. Potatoea Dull: ra
ealpta. 41 cara: total United gtntea chip
manta. Ill cara: Wlaconaln aavked and
hulk round 'whltea. ll.44flil.IO cwt.; Michi
gan aackod and bulk round whltea. 11.460
1 10 ewt.: Idaho aarked Rumeta, branded,
12 00 S O cwt.; Idaho aaoksd Rural,
II 10 cwt. Naw stock firm; Loulalana
aaekad Bllaa Trlumphi. No. 1, 3.03.2
ewt.; Alabama aacked Bliaa Triumpha.
M1J43.36 cwt.: Teaa aarked Bliaa Tri
umpha. IJ.604p8.00; cwt.; South Carolina
atata bhla. No. 1 Irtah Cobblara. 14.001)
24; No. I, 3.76t4.00. ,
' Mlaneapolla Grain.
Minnaapolia. Minn., May 35 Wheat---Caih.
No. 1 northern, tl.4IH01.l74a ;
Mar. 11.41; July, 11.31; September.
v.. ,..11 K4UiSSp. i
Oata No. I whlta, Jl)SSr. ,
Bariay azaja. .
Ryo No. 2. .
. Flaxaead No. l. 11.471? 2.70.
Kaaaaa City Oraln.
i City. May 26. Wheat No. S
hard. 11.2301.41: No. 3 red. Jl.2201.23.
Cora No. 1 whlta, ISc; No. 2 yellow,
(le.
S:" CMay. M-aat-MyT.
bar, I04.e. : .
w York Metala.
Naw Tork. Mar 21. Copper Firm;
oleetrolyttc apot.and tuturea. U414c.
Tin Firmer; a pot and futurea. Sl.Uc
Iron Steady; prleea unchanged.
Load Firm; apot. 6.6O06.86o
Zinc Firm: Kaat St. Louia. apot and
aaarby delivery. S MC
Antimony 8pot. .l70H4e.
w Tork DrM FraHa.
Naw Tork. May 26. Evaporated . Ap-plea-Dull
and aav; atata, lii01Sc.
' Prunaa Unaettled.
' Aprtcota More doing.
Peachea Steady. -Ralatna
Eaay; tooae muscatela, 160
14. . ' ' - .
Haw Tork Prod ore.
nt,tter .Kaafer:
aiw xorK, Mm 7 -
creamery higher than traa. Si0l7e.
oxtraa..I403le.
Erie Irregular; freeh gathered extra
" flrata. 27024e.
- Cheaaa Firm.
Chlraga Prodacr. -
Chicago. May 25. Butter Eaay; cream
ery eitraa. 24c; flrata. 31013c; arc on da,
03Oc; standarda, 14c.
Rgga Unchanged: recetpte. 21.002 caaea.
" Poultry Liv lower; fowla, tic; broll
ara, 440c; rooatara. 14c. .
t. Lawia Grain.
St. Loula. May 24. Wheat May, fl.lt;
'"cornMay.' lc: Jaly. la.
- Oata May. "a; Jaly. 3I,
MraaeapaMa Flaw. .
MlnnaapoUa. Minn., May . Flour
taehaaared to See lower: family wateata,
II 0001.21; ahlpmeata. 37.321 tela.
aar Tark Fwaltry.
Near Tork. May 25. Poultry Live,
firm; broilers, 16c: Hraaaed, atoady; wait-
By CHARLES D. MICHAELS.
Omaha kWo Uaaad W Ira,
Chicago, May 2S.Liuidation taa
on in grain early today and while
numeroui iop order were caught,
the break of JOc in May wheat and
8 He from the high of lat week
proved loo tempting to tome of the
local hort and their buying ab
torbrd the aurplui in the pit. Thii
cauaed a general movement to cover,
making a ttrong rally, although the
rinihh wai at net los.n of iJ,l
with May trading. Corn and oat
thotved atubborn retiatance to pre
ture and com cloicd unchanged to
higher and oat unchanged to lie
lower, while rye wa 2Ai'jt lower.
There wat nothing in the new
to caue thort in wheat any uneaai
neti, but the rally which followed
the early break wa not lupriaing,
at the market thowed every indica
tion of being ovenold. There wai
a big trade on in May wheat, which
dropped 4! j from the previout day'
finUh, with free telling by long
early. On the break teveral large
buying order were filled, which
checked the decline and. ultimately
brought about a rally. Deliveries,
continue heavy with tome grain taken
in the previout day by conimiision
housei that came out again today.
Crop Report referable.
Crop reporta from both tha winter
and 'prim wheat belia remain very fa
tor able, and there waa an abeenco of
upon drmanrl for naw crop winter a.
ftalea of i:o.o buahela Manltobaa were
maile but attracted no attention. Local
tecelpta were 2t cara.
Action of tha corn and oata market!
wae adupllralo of wheat, breaking early,
rely to rally aharply on abort covering.
There waa leaa preaure on coarae gralna.
however, than on wheat and at one lima
prleea vera above the flmah of the pre
vloua day. Praalmiatlo report! were re
reived regarding the growing onto crop
from Iowa, but tha planting of corn la
rapidly being rompleled In practically
all aectlona. Caah demand waa fair, with
aalra of 46,000 buahela corn and 236.000
bunhela oata. the latter Including 76.100
buahela to eiportera. Rerelpta wero 244
cara corn and 141 rara oata. .
live waa Influenced by the action of
wheat and derllnrd readily. Outalda
trade relatively light.
Pit Notea.
It waa tha general belief of tha wheat
trade today that May wheat baa become
a trallera' market, aa tha big ahorta are
aald to bo well In on their rontracta and
Ihoee who are getting caah wheat on
May purchaaea are In moat inatancea
aelllng It out. Thla la tb caaa with
peculator and thoae who do not want
the ranh on track are aelllng It out and
delivering tha wheat
One of the riepreaalng factor! In May
wheat of lata ha been tha delivering of
raib wheat In car 4ota on track. Those
who believe In wheat have taken It In
while othera nave aold It out rather than
pay for It In full, aa demanded by aoma
commlaaton houara.
Big local tradera who have been bear
lah on July wheat all week took their
profile on tha break to under 11.21, and
while they remain bearlah, they want to
aee the market rally further before put
ting out rreah 1 1 nee. sentiment in an la
bearlah and there haa been too much
unanimity on that aide for valuea to de
cline continually.
Renorta from Kamaa and UKianoma
aay farmera are aelllng their old wheat.
being eatlatled with prleea aa wen aa tne
crop outlook. Oklahoma City meaaagea
aald there waa no demand ror wneat ana
that harvesting would be on in tha aouth-
ern part of that atata next week.
Now York Cotton.
New Tork. May- 26. Favorable weather
rrporta cauaed Increaaed preaaure In the
cotton market today,' but the hit firmed
aharply in tha last halt hour. Tha Hat
opened barely ateady at a lose or 11 to
14 pointa and aold down before mld
aeaalon to a level of 15 to 20 pointa off
on commlaaton houaa aelllng. Some little
aupport came from tha trade and New
Orleana account. Some optlona allpped
off to new low ground In the fourth hour,
part of tha afternoon preaauro represent
ing atala local liquidation and Part local
speculative aelllng. Thero waa a rather
aurprlalng rally near tha close when
ehorta, trying to rover, found tha ring
bare ot offerings. The Hat regained all ita
losses. Final blda were t polnti net
higher.
Spot cotton waa quiet, Sl.tOo for mid
dling upland.
Southern apot: Galveston, 20.40c, It
pointa advance: New Orleana, 20, un
changed; Savannah, 20.13, 13 pointa ad
vance; Auguata. 20c, 12 pointa advance;
Memphis, 20c, unchanged; Houaton. 20.40c,
10 pointa advance; Little Rock, 11.60c, un
changed. St, Lonia Uveatack.
Eaat St. Louia, III., May 25. Cattle
Recelpta 2.000 head. General market
steady with low priced light yearlings
and vealera ateady to 25c higher. Bulk
ateera, I7.IO0I.36; bulk yearlinta. 7.7S
ns.zt: hulk cowa. 14.7605.60: bulk can-
nera, 2.7502.O; bulk beef and bologna
bulls, 14.0006.00; veal calf top, 110.00;
bulk. tl.5O0t.75; bulk atocker ateera,
14.6004.00.
hois Keceipta 8. son need. Market
r.ctlve; 10c to 15c higher. Top. 110.80;
bulk good butchers, 110.70010.76; bulk
130 to 160-lb. averages, 110.40010.65;
packer sowa moatly II. 1001.25. N
Sheep Recelpta 2,000 head. Market
generally ateady. Choice Kentucky apring
lambs. 115.36; hulk nearby springers.
114.50015.00; culls. 37.6001.00; light
ewea, 16.75; heavies, 14.00. ,
Kanaaa City live Stock.
Kansaa City, Mo.. May 26.-rCattle Re
ceipts, 3.500 head; beef ateera moatly
steady; spots strong on bettar grades;
light and medium weights, 19.00; cowa
ateady to weak; few prima lota, 17.00;
good and choice, 15.7504.50; common and
medium, 14.5006.00; othera steady; top
vealers, 114.00; yearling heigers. IS. 60;
cannera, 13.0002.26; cuttera, 13. 7504.26.
Hogs Receipts, t.000 head; market 10
10c- higher; top. 110.45; cloaed alow to
packers, ateady to weak; bulk 140 to 250
pounders. 110.40,0 10.56; bulk of aalea,
110.26010.40; aawa, !t.OO0t.5; piga
ateady to 10c higher; beat, 1106.
Sheep Recelpta, 3,000 head; killing
clasaes strong to 25c higher; 2-year-old
shorn Texaa wethers. 11.00; shorn lamba,
$12.65; sraoll lota native springer, 116.00.
New Tork Coffe.
New ii U, May 25. The market for cof
fee futurt. waa quiet but generally higher
today on "covering by near month ahorta
and reports of a ateady tone In Braall. Tha
opening waa 6 to S pointa higher and ac
tive months aold to 10 points above yea
terday'a closing figures, or up to 10.15c
for July and t.35c for December, Offer
ings continued light and the close waa
at approximately the beat, with the mar
ket ehowing a net advance of t to 10
pointa. Sales were eatimated at 11.000
bags. Closing quotatlona: July, 10.16c;
September, 1.65; October, !.65c: December,
1.36c; January, l.2tc; March, 1.17c.
Spot coffee waa reported in moderate
demand at 10 "i to 10'4c for Rio 7a and
141 to 14Vjc for Santoa 4s - . .
', Siooa City Live Stock.
Sioux City, la.. May 25. Cattle Re
ceipts, 1,500 head; market hteady to
strong: fed yearlings, 17.6008.73; warmed
up steers and yearling, tl.0007.26; beef
steers. 17. 2508. 5"; fat cowa ana heifers.
15.0008.16; canners, 12.6004.60; veal.
15.00010.60; feeders. t5.60e7.00: calves,
14.6007.50; feeding cows and heifers, 13.60
06.00; atockera. 16.6007.25.
Hogs Receipts. 8.000 head; market
opened 10016c higher; cloaed alow: butch
era. 110.10010.40; stag. 17.5007.76:
lights. 110.50: heavy mixed. 10.75014.11;
heavy packers. tt.250t.6O; bulk of aalea,
110.10010.40.
Sheep Receipts, 140 held ; . market
steady.
New York Geaeral.
New Tork. May 25. Flour Eaay: apring
patents. 17.8601.44: soft winter straights.
16.1001.36; hard winter straight. 17 150
7.60.
Wheat Spot Irregular; No. 1 red. II. 34V;
No. 2 hard, $1 J6H? No. 1 Manitoba, 11.53;
Na 2 mixed durum, II 61 Vi c. 1. t, track,
New Tork.
Corn Spot, ateady; No. 2 yellow and
white, 7Hc. and No: I mixed, 780 c fc
t., New Tork, all rail.
. Oata Spot, ateady; white, 41 Sc.
Feed Eaay: western bran, 100-pound
aarks. t2t.lO02t.lO.
Lard Firm: middle-west, 112.05012.15.
St. Jewel p Live Stack.
St. Joseph, Mo., May 25. Cattle Re
relpta, 2.000 bead: market steady to 15c
lower; ateera. 17.0001.45; cowa and half
era, t4.7608.4O; calves. 16.5003.76.
Hoga Receipts. 1.600 head; market
14015c higher; top, 110.65; bulk of aalea,
Il4.460 14.4t.
Sheep Receipts, 1,404 head; market
steady to tie higher: clipped lambs, 112.26
011.21; clipped owes. I6.OO0I.OO.
Kansas City rieduee.
Kansaa City, Mo.. May 26. Eggs Un
changed. Butter le higher; creamery. Sc; pack
lag. 10c
Rereiala a ere;
Official Muadair e I l
((fowl lul 1.144
Ortirlal WXtaMd.r,, 4 ill
fcalimeie Tkaieay , , 4 aes
Kaar dar! lata wee. 21
Same leal week Ii.tt
me I aeeaa 1-1
seiae I weeae e. .11 tit
Sam da fear aae.ll.iei
Omaha, May ft,
Ctti. He gheap.
e.oi; i.im
ll.t.l 4 tit
II.K4 eti
M,t-a ilea
1 1. Ill Ilex
ll.ail II. Ill
;:i
i.i taxi
44.41 li.tM
Cattle Rerelpta. t eas kee. I'auauelly
heavy Taureday rereipie taited a feat.
Hue ia the fat rmi. market toJay. Hade
en ateeie aing rather alow at tiaetea
derlinea of ie;ia I'rima yeeinaga aald
at ! 1 Tbie decline wipes out teeter,
day a alvaae and ieavea the mreei no
more than ia lea higher tar tne we.,
(.'owe e-d heifeie ie eteedy tu eje
lower, being about ateady far the week.
Stotkere aad feeder have kna eelliaa at
about me earn a baeie all thla .
Quotatlona on tattles thou la prime
beee. t4u)7. good la eajue beevee,
Mao4 4. (air t good been.-. It 10
I ae; cainmoa la fair beevea, li eeejt le;
choice to prime yearliaie, s.etlM;
good to choice yeerlinso. II I)! la; fair
to good yeariinaa. II 47, tl; rommoa to
fair yeerlinaa, t tOl J, rho).' la prim
helfera. IMIt SI; good to choli halfera.
11110111; fair la gopd heller, le 10
7.16; choue la prime . KHIlHi
gomt to rbolre row; l.4e4 u fair la
good rnae. It 404 ; common to fair
row, II 14 0 4.16; good to rhuivl feeder.
It lot) aee: fair lo good feedrre, fa eiee
1.40; common la (air (redera, ! 310
I II; good to choke etnrkera, IIl04.:t;
(air lo good eiovkera. IT ittI..; rommn
to lair etorkera, I4I0I.!6; eieik heif.
era. Il.igei.44; atotk niwa, IS.6I0III;
etoik ralvea. I4lul; veal reive.
4 14011.44; stai'k nulla, 4 40i 4; bulla,
ataga, etc., ll.:V7.r4.
BEK.r
So. Av. I'r
14 i:4 I
21 1117 It
t nit i :t
It 7t I 4
17 113 I t
STEERS AND HEIFERS.
II loat I It
4 own.
t IM 4 76 I I'll I 31
2 ii t 46 t no t :t
4 lie 76
BULLS.
2 126 4 aa t Ill Tt
CALVES.
T Ill 10 40
Hogs Recelpte. 10.704 head. On good
demand today from all quartera the mar.
ket wae active at an advance of 100
16c. Shlppera bought only nominal
quantity but good demand from packer
waa In evidence and an early clearance
waa made. Light hoga aold at 110 40
10.41 with a top price or 110 10. Mixed
toada and butcher welghte. 110.100 10.40,
and packing gradea. It 7IOI0 21, with ex
treme heavlra at 11.0001.10. Bulk of
aalea. 110.11010.4
rlUUJ
No. Av. rr.
17 1M4 t 1
I !
:i 14 I 2!
it !: i to
ii...... tit t it
Sh.
40
No. A v.
48. .142
86.. 330
I7..2I6 ,144
71. .211 70
60.. 230 ...
Pr.
10 00
It It
10 26
1 36
10 46
tihrep and Lamb Rerelpta.
Supplies were light today 1
lornia apring lamba Included
No. Av,
61. .121
I. .314
43. .271
It. .221
61. .221
Sh. Pr.
... 10 14
111 10 20
310 1 31
40 10 40
20 10 to
2.600 head.
Ithln Call
end nrtrea
on thla claaa are quoted aa fully ateady.
Few lota or native apring lamba aold about
ateady and clip lamba were eteady to
atrong, one ehort deck making a top of
113.60, atrong welghta averaging 102
pounda sold at 112.60, and bulk of aalea
were at 113.7601126. Small lots ot ewea
aold at 14.0004.7
Quotatlona on aheep and lamha: Fat
lamba, good to choice. 112 76013.60: fat
lamb, fair to good, 111.76013.60; apring
lambs. 112.00016.00; cull lamba. 11.000
11.00; fat yearltnga, 11.00012.00: fat
nether. 14.6001.00; fat ewes, heavy.
14.0006.00.
Chicago Livestock.
Chicago, May 26. Cattle Recelpta. 11..
000 head; beef ateera, ateady lu atrong;
top. 11.25 on yearlings and heavy steer ;
bulk. 18.0008.75; she-stock, steady to
shade lower; weaknesa shown on cloa
Ing prices; bulls and calvea. atrong:
atockers, dull; bulk, fat ahe-stock. 15.75
07.25; bulk, vealers, to packra, 11.26
t.76: bologna bulls, largely It .6004.75.
HogaReceipts, 24.000 head; opened S
to 10c higher than yesterday's average;
closing, firm; top. 110.80; bulk, tlO.300
10.76; holdover, liberal, many held off
market; pigs, slow, ateady..
Sheep and Lamba Recelpta. 13.000
head: steady to 26o lower: on load ihorn
lamba. 113.76 to shlppera; choice. 15-pound
shorn lamb. 113.80 to packers; bulk,
112.26013.25; California Sprlug lambs,
115.35015.76; feeder ends. 112.40012.76;
fed Texaa wethers. 7.268.00; fed Texas
yearlings and twos, 12.60010.00; top, fat
ewea, 17.00.
N. Y. Curb Bonds
New Tork, May 25. The early curb
trading today showed a receding tendency
and many atocka were In aupply at aub
atantial loaae. The leading stacks, how
ever, while aelllng at lower levels, did
not ahow weakneaa and ralllea were
quickly in order,
Tha petroleum group claimed most at
tention becauae of the continued activity
in the Standard Oil laaues. The heaviest
dealinga being In Kentucky, which first
yielded 2 to to, and then rallied to
above 12. Indiana moved In the aama
way, yielding In the first hour and rally
ing before midday. Imperial Oil ot Can
ada ranged from 114H to 113H- Salt
Creek produrera waa on of the strong
est of the Independent Mocks, these eaanea
generally ehowing a receding tendency
during the greater part of the day.
Tobacco ahares ahowed fractional loases.
Trading In the motor group held gen
erally steady, although tranaactlons were
on a large scale.
A sale of Inland ateel waa made at
lie. Independence lead waa again the
strongeat feature in the mining group.
Rex Consolidated waa In -demand with
continued accumulation.
New Tork, May 26. Tranaactlona on
ths New Tork curb bond market today
were aa followa:
Bonds.
Salea (In 11,000) High Low !:15
20 Allied Packer la 18 i 174 9 Hi
14 Allied Pack 8s ctf . . 08 97 07
14 Amer. L. & Tr. la 107 107 107
4 Am TAT 6s, 22...100H 100H 100
12 A. T. ft T. 6s '24 101 101 1014
3 Anaconda Cop. 6a 100 100 100
24 A. C. 7s, 192t ....103 103 103!i
7 Anglo Am. O. 7 Ha 103 103 103
t Armour A Co. 7s 104 103 103
4 Beth Steel 7s,- 23.105 104 105
2 Beth. Steel 7s, '35 102 102 102
4 Can. N. Ry. eq. 7a 101 101 101
12 Can. N. Ry. 6a ..18 18 18
2 Can Pac 6s 101 101 101
t Cent Steel 8a 104 104 104
2 Col Graph 8 46 46 46
3 Con Textile 8s ...7 97 97
10 Cop Ex Asn 8s, 25.104 104 104
1 Cuban Tel 7a ..104 106 106
. I Em. O. ft F. 6s ..100 100 100
4 Good Tire 7a 19 81 99
3 Grand Trunk 6a..105 104 105
13 Gulf Oil 7a 105 104 106
26 Hershey Co 7a ..101 101 101
1 In R T 7s 98 98 98
7 Int. R. T. Is, '22 . 13 2 92
, Kan. Q. ft G. ta .. 94 94 16
4 Ken Cop 7a ......105 105 105
14 Kings Cy. Lt 4a 99 98 99
11 Laclede Gaa 7a ..100 100 100
2 Llg-WIn 7 101 100 100
2 Manitoba 7a .97 97 9T
1 Morrta ft Co 7a ..105 105 105
1 Nat. Acme 7a ... 18 17 17
2 Nat Leather 8a ..100 49 lno
34 NY NH ft H 7a .. 91 90 90
53 No Am Edl 6s.... 93 12 92
Phil. Pet. 7s, '31 121 120 121
4 Proctor ft G 7a 23.101 101 101
izruo. serv. . J. la ID I 100 lot
99 99 99
. 99 98 tt
..101 101 101
..102 102 102
..102 103 103
..115 115 115
.103 102 102
1 Robert Gair 7a
t Sake ft Co. 7s . . .
7 Seara-Roe 7a 23..
4 Shawaheen 7a ..
8 Skelly Oil ?a
' 3 Solvay ft Cie 8s -17
Sw. Bell Tea 7a
11 St. O. N. T. 7. '26 106 105 106
2 Stan Oil N T 7s 26.106 106 106
1 StanOil NT Ti 27.106 106 106
3 Stan Oil N T Ii 29.107 107 107
1 Stan Oil N T 7s 31.102 102 102
t St. O. N. T. 6a ..107 106 107
14 Stewart Warner 8s 108 10 108
11 Swift ft Co. 7a, '31 102 102 102
20 Texaa Co. 7s 101 10t 101
. 10 Tidal Osage 7s ...103 102 103
10 Tol. Edison 7s ...104 106 106
23 Un Oil Prd 8s. ...108 108 108
13 Vacuum Oil 7s ...107 106 106
6 West Elec 7a ....107 107 107
1 Winchester 7a ..101 101
3 Freeport, Tex 7a. .120 120
t Int O N Ii 2 42
2 Int R T 4s WI.. 87 87
15f Int R T 7s WI.... 95 5
20 New Eng T 5a WI.. 98 47
10 Phil Elec .
I Phillips Pet WW
5 R J Reynolds 6a
" 11 Union Oil Cal 6s
t Utah I. ft P 6a ..
t West. Electric ,7s
Fereign Beads.
11 Argentine 7s. '22 ..100 100 100
25 City Elberfelde 6s. 61 6 5
I City or soiaaona s
1251 N. T.. N. H. Fr. 7a
1 Rusatan 4s ctf a .
20 -Russian t
1 Russian 6 Us ctfs.
t Swiss 6s 101 ini
37 V. S. Mex. 4s 41 47
(4 Can Steam 7a 9 9
30 Mex Govt 6s 21 71
III I Bjj'1
101
120
62
7
95
47
99 99 99
..103 103 103
..100 100 100
..101 101 101
,.91 41 91
..107 107 107
a
76
. 14
. 20
18
15
74
itVs
2
18
It
74
14
20
18
101
47
94
21
17
By ALEXANDER DANA NOYES.
tt ea Mr) I eie Wire.
New York. May ,'S. On the -hole
the evidence 'ol eay money itere
the moat interesting financial de
telopment ol the day. 1'ey ap
peared not only in the reUpc o(
tttxk exchange call money rate to
i'i per rent, but in the day' advance
pi the fourth 4! per cent and ev
eral other Liberty lwwi tt par, (or
the hrtt time in ilmott a month.
Similar tendencies were thown in the
Ifaiik o( England ' weekly ttateinrui
whose percentage of reserve to de
poaiit wat higher than that e( any
week inee the early tpring o( IV.U
Our own federal reaerve ktatentent
thowed a rcacrte ratio practically un
changed at a figure let than I per
cent below the higheit on recotd.
Rediscount increaaed $18,5uO.OUO, but
the oulitanding reaerve note imul
taneouly decreased flH.4tW.tXXl; they
atand at the low eat total tince Auguat
1918 and are let by J74 per cent
than the maximum ol 19J0.
Movaenswla CaafvaeeJ.
Movement of prl.e en the stork .
rhang waa aa irteeoluia and lonfuud
e It ha been all the . Kvea t"e
railway ahares. where they moved at all.
went in different direction, wail in
few advances of a point or more whiife
occurred in Industrial aharee were bal
anred by aliaoat aa many equally latge
decline. In tha day a diecuaaioa of
the railway rale reduction ae rb point
el view developed erett for growing
belief I hat com further wag reduction
would be concluded by In railway labor
board.
The recovery In (irhanse ratee on Con.
tlnenlal Europe, ahlrh got under way
aoiia aa the Genoa delegate were fair
ly dlaperaed. continued todey and brought
the frano e aboe the present wk
low pne rear had Monday. I'erhapa thla
moatly reflect the continuing achieve
ment ot frame In reversing the Import
avrplu of It foreign ud and reducing
the paper currency, consideration to
which the exrhange market la able to
give more Judlcloue attention, now that
tha dally alarm from Genoa ar ended.
Recovery would naturally be helpful, how
ever, by th quit unexpected eplrlt of
hopefulnea which I attending th bank,
era' conference on th flrmo loan. The
feeling rertalnly appeara to grow that
thla conference. Ilka the Washington
gathering of laat fall and unlike that
at Genoa, may be one of thoae occurrencea
from which little had been expected In
advance, but which turna out to be an
event of commanding Importance. ,
New York Stocks
Range of prlrea of the leading etocke
furniahed by Logan a Bryan, 241 Peters
Trust building:
RAILROADS.
Wed.
High. Low. Cloae. Close.
A., T. ft 8. F 100 100 100 100
Bait, ft Ohio 46 47 47 41
canaaian raciiic. .143
N. T. Central
Chea. ft Ohio...
Gt, Northern...
Illinois Central.
k. C. Southern....
Lehigh Valley
MlMnurl Pacific...
N. Y. b N. H
N. Pacific
C. ft N.-W
Penn. R. R...
Reading
C, R. I. ft P
Southern Pacific...
Southern Railway.,
C. M. A St. P....
Union Pacifie
91
17
77
141 141 142
S9 10 91
46
76
107
2
2
23
33
77
76
41
80
44
2
24
27
Am. Car Fdy
Aine-cnaimeri .
Amer. 4Loco ,
Bldwln Ioco ...
Beth. 8tel
Colo. F. ft I....,
Crucible
Am. Steel Fdy. .
Lack. Steel
Mldval Steel ...
Preaaed Steel Car
Rep. Steel ft Iron.
44
74
107 107
17 24
43 63
23 23
33 .12
77 74
75 75
41 41
!079
4 4
92 91
24 24
27 27
..139 138 131
STEELS
..163 163 163 12
.. 49 48 49 41
..114 114 114 114
..117 114 114 117
7 77 77 78
3
74
38
76
41
77
74
47
77
104
27
43
21
33
74
76
41
80
46
13
24
27
131
24
76
38
77
43
78
76
Ry. Steel Sprga. . ..103 103 103
Sloas-Scheffield ... 60 60 - 60 61
U. S. Steel 101 102 100 101
34
74
38
74
77
76
14
76
36
77
43
78
76
Vanadium
Anaconda
Am. S. ft R. Co
Cerro Da Paaco
Chill ,
Chlno
Green Cananea
Inaplration . . .
Kennecott ...
Miami
Nevada Con ...
Ray Con
Seneoa.
Utah
Gen Asphalt ..
Cosden
Calif Petrol ....
Island Oil
Invincible Oil .
Mexican Petrol
Middle 'Stalea .
Pacific Oil ...
Pan-American , .
Phillips ' ,
Pierce Oil- ,
Pure Oil
Royal Dutch ..
Sinclair Oil ...
Standard Oil N
Texaa Co . . , . .
Union Oil
White Oil
49 48
COPPERS.
55 64
45
40
22
48 40
4
39
22
42
38
30
18
17
13
42
38
30
18
17
13
.. 68 .66
OILS.
,. 65
.. 44
,. 59
,. 1
16
63
44
67
1
17
64
5
39
22
42
38
30
13
17
13
47
43
44
69
1
18
66
4
40
22
31
83
42
38
30
18
17
13
7
5
4414
67
1
18
..135 133 133 133
14
43
66
62
10
32
63
36
188 188 190
41 48 49
23
1
14
68
66
48
33
62
S4
22
1
15
... 64
... 66
... 52
... 10
... 32
... 63
... 36
J. 189
V. 48
... 23
... 9
MOTORS.
... 75 74
... 14 14
... 9 8
... 19 19
... 48 48
...121 120
RUBBER AND TIRES.
18 11 1
41
Bl
22
17
64
INDUSTRIALS.
Sugar.. 44 44
39 38
48 47
36 36
123 123
48 47
29 39
16 16
25 Z4
14
64
65
49
10
32
62
36
21
Chandler
General Motora.
Willys-Overland
Plerce-Arrow ...
Whit Motor. . .
Studtbaker
Flak ...
Goodrich
Kelley-Sprlngfleld
Keystone Tire....
AJax . .
U. S. Rubber...!
41
50
21
16
64
Am. Beet
A., G. ftlW. I...
Am. Inter. Corp..
Am. Sumatra. . .
Am. Telephone..;
American Can . . .
Central Leather.,
Cuba Cane
Cu-Am. Sugar ...
Corn Products . . .
Famous Players .
General Electric .
Bt. No. Or
Inter. Harvester ,
A. H. ft JU, pro.
U. S. lnd. Alcohol. 40
Inter. Paper
In. M. M., pfd..
Am. Sugar Ref,
Sears-Roebuck ,
Stromsberg ....
Tob. Products .... 74 . 72
Worth. Pump .... 61 61
West. Elec 62 62
Amer. Woolen .... 92 92
MISCELLANEOUS.
Am. Cotton Oil ... 27 27
Am. Ag. Chem. ..38
Brook. Rapid Tr. . 25
California Packing 78
Col. G. ft Elecino ti't
74 76
14 14
6 . 8
19 19
48 ....
20 121
18
41 41
00 01
21 21
16- 17
64 . 63
44 44
36 38
47 48
36 36
123 123
47 48
f9 39
16 16
24 25
100 100 100 100
88 Ii
40 40 40
102 103 10S
70 70Vt 70
56 69 54
50 61 61 .
83 83 84
75 75 75
76 78 77
6211
74 72
61
62
12
. 40
.103
70
61
83
76
79
63
12
38
25
78
87
4
77
43
27
36
25
78
18
4
78
43
27
38
25
78
87
4
77
43
140
167 157 156
93 93 94
3
121
44
49
68
35
29
30
39
121
44
49
67
36
29
30
40
121
43
49
68
36
29
11
Col. Graph 4
United Drug 78
Km tfnamel 44
Unlted'Fruit 141 140
Lorillard Tob 169
National Lead.... 93
Philadelphia Co... 40
Pullman 121
P. Alegre Sugar... 44
S. P. R. Sugar.... 49
Retail Storea 69
Superior Steel 86
St. L. ft S. F 80
Va. Car Chemical 30
v Total aalea. 1,137.200.
Money Close, 3 per cent; Wednes
days cloae. 3 per cent.
Marks Close, ,0035; , Wednesdays
close, .0035.
Franca Close, .0115; Wednesday's close,
.6198.
Sterling Close, 14.45; Wedneaday'a
cloae. 14.45.
New Tork Money.
New Tork, May 26. Money Call,
atesdy; high. 4 per cent; low, 3 per
cent; ruling rate, 4 per cent; cloaing hid,
t per cent; offered at 1 per cent; last
loan, 1 per cent; call loans against ac
ceptances, 3 per cent; time loans, firm;
60 daya, 4 per cent; 90 days, 4 per
cent; six months, 4e)t per cent; mer
cantile paper, 44f4 per cent.
Liberty Bond Prices.
New Tork. May 25. Liberty bonds at
I p. m today: 3a. 100.00; first 4a,
: aecond 4a, 99 82; third ' 4a,
99 98: fourth 4a. 19.91; Victory 4
100.78.
Bar Silver.
New Tork. May 26. Foreign Bar Silver
-72-.
Mexican Dollars 55 i '
New York Bonds
(Ttt Be t the only Omaha
tvevpapr which pubUehd thai of
fUial clot of tha New York Stock
eachange bonds.)
X Vek. May . i '
llaeily law. fl.e of abuh old l p9
ar ti.e (ad la.ee4 awa4
seteeletH W aeUt " 4ke
eii44if leaiof of todae a)
t. Ih I t aikeiwie (eiaialxg l.
eent irigir vkee4rtn.e
Th Imawri! 'ie taa la
rlwdi R'HUa) aad ffsa.li. moved lj.
ia -ii.ih I. mil 4 iaua
s4 t sad ipne t e Miahtiy
lueer.
kfie 4rMgel of Ike rail. Ih
eeeteiiitle etaiug aver I aaiaie , Is.
smv f th 4g'tnat tail larliedieg
leu, pMfie. ahMai4 aiiiMtae aa
t'bi aad Heathers Meilaar, e way I
St adnata selling.
I tuiii.e 4 Ifcdttetrut else ia4
unevenly, 4'eli4ieil II I sad 4 hit
lapper aerllMIMS. hll l'Un a
n.4 a )iaeiil earn Tntal aalea
tyar value) grU4 III Itl .
Th investment 4eaa4 fay ae )
derwrmng euannee4 ira. ae evi
denced by the qui eel of Iw new of.
farina Three were the 111 New
. inland Telophase per real beade ea4
14 eea.eo Bteekiya Chios lias per ceat
bead.
New Tork. May II Follow lag ar I.
dat'a high, low and rloaing prte f
toada en Ih New Tars, iik etthang
and th total sale of ea.a bead!
( 4) Kg Walat
Sale (la 111 High
44 Liberty !e ....!
I t.iberiy let 44 .. tl 1
21 Liberty fd 4a ... 19 7
lit Liberty let 4 ..!
44 Liberty Id 4a .. 14 44
472 Liberty d 4.e .. 19 94
1134 Liberty 4ih 414. .14 41
1)1 Victory 4a ....1411 14.71 14 73
fereigs (Jeverameai, Mala aad Mawtrlnal.
ja Argentine Ts 104 10
I t'l.lnea Uovt Ry Is II 48 tl
I i ny Itergen Is ..II II II
24 t il v Herns te ..,li:v IIJ's 11.'
I I'lty Hordesus aa., 47 If at
4 I'lty Copnhgn a. tt 91 t
I t'lty Lyons aa .... 47 a, 7
lt City Marseilles te., II 44 47
14 City llio Janeiro aa.la las lot
32 t'ny Han I'sulo Is. .104 ll 11
I I'lty tljrl.h 4 111 111 m
l:t tVpl Hem 7s 44', 11
24 Horn Can ta2l...oev oa so
II llrh K lnd aa 47 14 91 16
11 ltch B lnd 4a41. 9 tl 16
41 French fteo Is ..1034k toi iniv
ii r renin Hep ia
21 Japanese let 44
tl Japaneee 4s ...
I King Nelg Ts
17 King Bel la...,
tl King Den ts ....
II King Itsly s
44 Kin Nthrlnde 44., 97 14
King Norwsy la ..111 111
II King Sweden la ..101 1"1
tl Parla-Ly-Med la... 12 41
I Rep Chile la 44.. ..106 jo
1 Rep Cuba ta 04., 14 10
t Rep Uruguay la ..108 101 oi
I Stale Qunsland 7. 110 110 110
14 State Qunslnd Ia.l0l 101 ioiI
II Stat Rio G 81 ta.iot 102
II Swlaa Con Is 117 117 117
77 K O R ft I ts 22.101 108 108
111 K O R ft I !e 29.101 08 106c,
11 K O B ft I ta 17.102 102 102
law
til
ta tl lee ea
,101 101 n
.. i 90 90
.. 77 77 77
..111 lot tsa
..o: lo: jot
"
It IIS tt
14
III
101
1
lot
10
HUB Ue.il ., ,,,, l 11
II V !.. a ,,, '
I V Me I .... M,
lUliaay aaal Meiewllassaaa
ti,m t-apiee ,! ' t
I Ai4 k-t-Wf . Il 11
t Aa Aa t am t ..11 ! i
I Aw ait l !
l Aat s.r ..,,.SI'
Am T at T -lllv. Ill's I6
I Aat T T I l ! 11
Aat M(il t le ,, aa at
( Atwoaf 14 -. 44 S4
I 4 I 6 ir gee) te , as tt 4t
' Ml It'f ....,.! a !
tt K.il att. t tt t
H it a it .. ai i 41
t Hell 7.1 at Pew I 11 11
I Heiaj kteel ret a .. tl 4
t Hih i.el p m e . 1 II l
II li'edea 4 .... 44
Halt rut aa I l .11 l 11
I tea w ,,,,,lii l" l
ta I- . 4 .. I ta ti
4 41 leatkee te 41 tt tt
Let fa s4 ..
It t.fr fa. ....111 IM III
41 I ke A ii ev a ,. 91 91 91
II I ft l re l'e . at tl', aT
1 V H W r.f t A, t 94 ,
I t'ki k III t .... l '
la t hi lit W le 1 a l
I I? M a Si P te 4s 74 l 1',
it i tl m P r l. aa 4 t
llhi A N W 7 ,.l a
I 4 bl A N W l .,11 14
I t hi 4 ta 11 It tl
I I" II I 1 P gea 4a., 11 11 11
II I' I I 4 r r.1 4. tl II at
4 4'h ft W 144 4 It )J
14 i an i ea 7s
114 ran fop 4
t t ela lnd la , . , , ,
t t'olo A So r.f ISe
I t'on t' Mrln4
II en use I
4 4'ub t'a hug 4 a.
Si I'ub t'n Nu 4 J
14 e4 S
IS
, tl
'
117
,
sa
91 91
1t lt
41 11
as
114 111
4 l
1 44
I I'ub R H I A 13 l
9 I". A Ra II tm ts ."' 42 l
I II II 4 II H . .. 41 at at
I I i icdi ref ,.Il aj 12
t !! ltd 111 4a. 41 11 !
I tne Her a
14 Ppnl Nam ISe
I Pu'iueene I.
III Kn ga 4 ....
SI Kn pr lien 4 ..
4 Fisk nub I ....
II rr.mer I l 7
I All H I H Ii ..
1 Ilea Kleo d la ..
21 Good Tire le tl.
21 Good Tlr la 41..
.. 4 e'
,,la 14
,.lla li
,. 16 tt
,, 41 44
,,04 14
,. It !
. 44 44
,.! 1 1
,.12 12 12
.11 116 111
41
17
11
18
It
14 4,
t Grand Tnk Ry C 104 13 ll
13 tin N 7a A iat la 1
S U N IS M I ""S I a 1"
7 Mud ft Ma if ts A. 41 13 41
I Hud A M sd In ts. 1
I III tent s I"'' ""'t
I III Steel d 4S
II lnd Steel t ....
tl
.1"
I
11
7
7
47
17
I tilt Ag ta 71
1 Int Mel 4s 14
231 Int Met 4a rtf.. 17
148 Int R T ref ts... 71
24 tnt M M a f le .. tl
It Int Pa ref Is B... I
1 In Oil Is 14
S la Cent ret 4s .... 47
II K C South ts
II Kel-Spnng T ls....loi
14 lack St t 21 !
1 Lack a St ts It to
1 La ld O 8 I. let ia 13
1 L 8 M 8 d la '31 12
1 Lettish Valley Is
4 Lorillard 6a !' 94
14 1. A N ref ts....l3 10.1
! U N unified 44.. to to
14 M St Ry ron ta.,.. 40 90
1 Marland Oil Is.... 97 97
I Mexlian Pet Is 17 107
17 Mich B T 1st ts... 11 11
II 91
91
7t 79
I
I
7
II
4
14
47
47
17 17
11 99
to
2
II
t
92
1
;o: 102 12
ii
90 n
s
7
l7
11
I M cv a 11
I a I H nl 4t
iMFaat4' ii
M a, A T ! A 41 !
ll M k A T a t A tt l
l It It A T 14 4 . 4J ! 41
tt Pee ( M II I l
l U P. . ta ... 41 l 4
It M.at Pow t A., t 4
M A 4 11 .. Jf 61 tl
6 N ii T A M t II 'I
i n t t t is i4 ;;
It H C 44, -.144 J 11
I f A 4 I. 4 4 44 i aa
II X T II . 4e , 114 e4 S4
l M V i Hall 'II l ! al
I Y SHM 4 4 'II tt t tt
9i r T a 4t ,..11 l"l lel
I M T T I.I 4 41. ..11 ai S
I N f W A H-e l4, 11 tf tl
I Ka A Sveeia A.. i e ee
I hue A Ml ..et let. ee
la Pir Uea 4 .... a a4
ll N p s.n ar . ..... ?
III N P4l M II S ..! ! I4
4 N P ref M A II 11
I N W Itell T.I le.,l ! 14
II ll H I. g4 ts Wfs.iai 11 11
-I II I. eel 4 ..11 11 tl
9 mi Si eel a A....IJS I'-'S '
16 fa tl A K la .... 11 i
p. T A T t t J
it P..k Met (ar ts MIS lai at
4 Pa. Ami PAT 1..IS !
I Pea R R ..la' !. I"
17 Pena M R gea e .. !
4 r. R R 4 tl' II
I Per Mr4 ! !w
I P A l-t la I 11 " .
I pt.i.0 mi a a ,.ti iai
I P C t! A St t. 4 A 44 4
4 Pra A Rel te tal lal
I Read gai la 41 4t
t R I A S ral t ... t 14
I K tl 4 W III 4.,, It J
t R I A A I. 4... tl 41
I I, I tl I I r u l't ii
it a I. A N F a se ... 14 II',
31 a I, A a I me aa.. 49 41
.6 a I. F p I 4, A 1!H 73
It L.H W lat 4 .. 74 74
I 6 P 4 K C I I' I'll II"
1 A A A P l 4 77 77
94 Air I. roa 4... tt' M
It H A I. edl ta 24
t 8 A I, ref 4 4e 4;
It B 8 II la A 19 '
I S Oil r 1 11 14 ?
2 8 Oil rol 7a
4 S P r I...,..... l 14
74 P ref 4 47 7
It 8 Po ro tr 4 41 41
21 R R gea 4a 99 '
41 N Ry ron la 91
14 B Ry gea 4a 7
p n 7 91 t
17 S O of C deh 7..n 14 14
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1 Third Av ad I Is.. t 4 44
I Thud Avs rP 4s.. 41 44 44
I T Oil ISs ct's....ll 17 11
4 Teh Frotu.-l 7.. ..11 101 11
I I'nion Pe let 4a.. 11 11 11
I I n Pao rv 4 14 14 14
1 t'n Pa ref 4 4 a aa
2 I n Tank Car 7a ..143 11 11
I t id I'rug Is 111 111 111
4 l td Ry lnv st Is.. 17 17 17
I U a Rub 1a 101 1 11
11 U 8 Rub ta .... It 49 19
i ir a ateei a t ts ..11 101 ii
14 I'tsh P A L Is .. tl 11 11
91 Ve-fr Chm Ta...14l 11 101
21 Vs-Cr Shm let la 100 41
2t Va Ry i tl 91 94
t Wabaah let la .... 98 91 94
1 Weetern Kleo la. ...100 10 100
11 Weat Mrylnd lat 4a. 46 64 44
1 Weet Pae t 17 47 17
11 West t'nlnn ls ..101 109 10
11 Weat Rlea 7a 107 17 107
7 Wick-Spen St 7s.. 10 99 91
21 Wilton A C. sf 7S.10I 11 106
4 Wilson A C rv 6.. 11 41 91
7 Dom Can 1961 WI.100 10 10
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Montreal 11
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tk furniahed bv la A Mrisa, :i4
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C''.
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Armour leather rvffl 12
"'""ail Motor..... 1
r-rl Motor. ................ ...a..
l.ibhr a........... 1
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Ntert.Wrar ?
kwilt A a 11
Swift Int. . . , t
I'nion Carbide 6".
vtahl v ai
vTniley 7.. .112
Tarpeaila aad Rssia.
Savannah, it , May 21. Turpentine
Firm; IS: aales, 314 bhla ; receipts. 461
bbls ; shipments, it bolai block. 1.(11
bbis
Rosin Firm: sal. 1.411 ratka: rerelpta
1.37 caaka. ahipmeota. 141 caaka; stock.
14.117 cask
Quel: R. II 2f. !, II 3; t II 4: P 1,
14.46; H I. Ill; K. 11.44; M. Ill; N.
It.lt; WO III; WW. HQ.
Near York Dry feed.
New Tork. My . gotten gdg wr
guieter In primary rhannel taday. The
jobber bought moderately for delivery
through August on gems of th staples
where prtres have not been edvanred.
Tarna held ateady but were quiet. Raw
silk advanred from I to 31 tents per
pound. Burlaps continued etrong In Cal
cutta and there waa moderate activity
her. Wool goode were firm.
Landoe Money.
London. May Silver Bar, 3744 per
ounce.
Money 1 per rent. ,
Dlacount Ratea Short and three
month' bllla. I 7-lt per cent.
$35,000,000
New' England Telephone and Telegraph Company
First Mortgage Thirty-Year 5 Gold Bonds, Series A
Dated June , 1922
Due June 1, 1952
lataraat payabla June 1. and December 1 in Naw York City or ia Boston.
Coupon bond in denomination of $1,000, $500 And $100, ragiatrabla a to principal. RgitrAl bond la do
nomination of $1,000, $5,000 and $10,000. Coupoa bond and rgitrad bond, And tk tavtral danomination,
intarchanfaabla.
RadaomabU At tbe option of th company, in whole, but not in part, on June 1, 1949,' or any iatarttt data tharo
af tar, upon 60 day' notice, at par and Accrued intrat.
A lag al investment, in tha opinioa of (L C) counel, for Tiag bank in Mastachuaatta, Rhode laland, Naw
Hampihiro and Vermont.
V 1 THE FIRST NATIONAL BANK OP BOSTON, TRUSTEE.
From a letter Matt B. Jones, Esq., Ptesident o f Neiv England Telephone and Telegraph Company),
stating the particulars in regard to the issue, we have made the following summary:
The bonds are to be secured, ratably with the outstanding $11,000,000 debentures, by a first mortgage cover-,
ing all the real estate and other property, other than securities, now owned or hereafter acquired by the company
in Maine, New Hampshire, Massachusetts and Rhode Island. The book value (which value ia considerably leas than
the present value) of the company's assets amounted to more than $140,700,000 on April 30, 1922, and, after giving
effect to this financing, will exceed $156,500,000, whereas the total bonded debt including tbe present issue of bonds,
amounts to only $46,000,000. The proceeds of the sale of these bonds will be used for additions and bettermenta
and to repay advances for such purposes made to the company by the American Telephone and Telegraph Com
pany, which owns over 57 of the $66,472,700 outstanding capital, stock of the New England Telephone and
Telegraph Company. s "
The company's gross telephone revenues, total income (after deducting operating expenses, federal and other
taxes, rentals and miscellaneous income charges), interest charges and net income for the last ten year have
been as follows: . . '
Total Income t -
. (After Deducting
w - ' . Year ' Croa .2&Si lMtnt ' '""' '
E.eed Revenue r.,.0 Char,.. lata..
Miecellaneaus In.
cam. Charges),
1912....... .$16,324,305 $3,468,696 $ 348,581 $3,123,115
1913 .. 17,672,946 3,789,162 676,674 3,168,488
1914 . 17,867,173 3,799,226 648,516 3,150,710
1915 18,816,268 4,080,170 690,836 3,389,334
1916 21,467,121 4,943,941 692,311 4,251,630
1917 23,149,715 4,852,138 739,325 4,112,813
1918 5.767,760 765,041 5,002,719
1919 5,988,012 563,078 5,424,934
1920...;.... 34,273,897 . 6,726,080 588,535 6,137,545
1 ' 1921..... ... 37,312,788 , 6,998,844 l,012,449t 5,986,395
. . 'Property under federal control during portion of yesr. ,
t Increaa over year previoua represents intsrsst cnarge. on, advances mad.
by th. American Telephone V Telegraph Company, which advance will be repaid
out of the proceeds of the sals of ths present itaue.
Interest charges on the total bonded debt, including this issue of bonds, amounts to $2,290,000 per year. As
about one-half of the proceeds of the sale of these bonds is to be used for additions and betterments, net earnings
should materially increase. Adequate charges have been made against earnings for depreciation and obsolescence.
The company has paid uninterrupted annual dividends of not less than 67s since 1898, and the present rate is
8 per annum. . ,
Additional bonds may be issued under restrictions in the mortgage indicated in Mr. Jones' letter.
THE ABOVE BONDS ARE OFFERED FOR SUBSCRIPTION, SUBJECT TO DUE
AUTHORIZATION AND TO ISSUE AS PLANNED AND TO APPROVAL OF LEGAL
ITY BY COUNSEL, AT 97i AND INTEREST, TO YIELD OVER 5.15 PER CENT.
Subscription books nill be opened at the office of J. P. Morgan Co., at JO o'clock w., Thursday,
May 25, f 922. The right is reserved to reject any and all applications, and also, in any case, to award a
smaller amount than applied for. The amount due on allotments will be payable al the office of j. P.
Morgan & Co., in New York funds, the date of payment to be specified in the notices of allotment,
against delivery of temporary bonds or J. P. Morgan & Co. trust receipts, exchangeable for definite bonds
when received from the company.
J. P. MORGAN & CO. KUHN, LOEB & CO. ?
KIDDER, PEABODY & CO
FIRST NATIONAL BANK THE NATIONAL CITY COMPANY i
New York Naw York
)
" As Subscriptions Havs Been Received la Excess of ths Amount of Bonds
OlfsreoV Thi Advertisement Appear at a Matter al Record Only.
1