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About The Omaha morning bee. (Omaha [Neb.]) 1922-1927 | View Entire Issue (July 12, 1922)
THE OMAHA BEE: WEDNESDAY. JULY 12. Market, Financial and Industrial News of the Day Omaha Grab Chicago Grain Omaha. Neb, July li Affected favorably by the overn went report jutted yeiterdiy which wai coniicertej Duiiuh by the trade linen of grunt, ruled iironc and higher. Mfcngih of foreign exchange alio a lutor in price makm and there were alto numerous re port i of black run in Canada. Ex liort hminrtt remaint quiet and th itn of new wheat i alow in tn tr.g threihing being delayed by rain lt-reirli i'l Omaha vaere lisht con sifting of $ can of wheat, 30 cir of corn, and 6 cart of oat. totaling 41 can, at compared with 102 cart v heat, 16 can of corn and 8 eari of oat i Int year. Shipment! aggregated 7J car, agatnrt 91 car last year. . ath wheat price in the Omaha mar let were tteady and 2 to 3c higher Corn and oatt were in fair demand both telling 3 4 to 1c higher. Rye uat nominally 2 cent higher, barely nominally unchanged. WIIKAT No. I hard wlntar; esrs. 11,10; I esri (now). II. 01 8mplt hsrd winter; 1 tr (weevil! ii es; I car, II " N. 1 whin: l car (speed) billlnitt 7 N. t whit: I cars. lSc No. yellow: I car. He No. t miied: 1 car (shippers welhl) ue. OATS No. t white: I rara (It.. RTB. 1 car mlied rsln: :l par cant ry, 7o. hari.et. No aalra CHICAGO RECEIPT. Week rarlnla Todsy. Am. Whest ....lit trn Ill Ost Hi KANSAS CITT RECEIPTS Week Carlots Today. Aso. Wheat I -nrn 1 Oala I ST. LOUS RECEIPTS. Week Tar Carlo! Today. Ao. Ao. Wheat I4J 17 Orn , 71 31 Oeta 41 !4 NORTHWESTERN WHEAT RECEIPTS. Week Year Today, ,...U IT ....117 Tear An. J7J 171 Year A co. 3IT T3 I Aco. An. :o ait Csrlota Minneapolis Dululh .... Wlnnlpec .. Holiday. OMAHA RECEIPTS AND SHIPMENTS. (Carlots.) RacelpTo Whsat Torn Oala rtve , . . Harley 9)hlpments- Wheat Corn Oats Ry Harlev I'RIMART RECEIPTS AND SHIPMENTS. (Bushels.) Week Week Tear Today Aito Ao . I Holiday 12 . 34 Holiday II . I Holiday I . 0 Holiday 0 ...0 Holiday 0 Week Tear Today Aco Aco . :i Holiday 43 . 30 Holiday SI , 11 Holiday . 1 Holiday 13 . 0 Holiday 1 i Receipts ;; Wheat , , Corn . . Oat . . - Today . 9(i.nl)ft .1,04.000 . 674,000 A so Holiday Holiday Holiday Week Ago Holiday Holiday Holiday Tear Ago 1,143,000 817,000 117.000 Tear Ago Ml, 01)0 999.0O0 261.000 Tear Ago 351,0(10 17.000 None Fhlpraenta Today Wheat ...1.08. 000 ."orn .... Ili.ooo Oata 431.000 EXPORT CLEARANCES. Week Buahala Today Ago Wheat and flour 404. ono Holiday Com rrr.. 113.000 Holiday Oata 30.000 Holiday CANADIAN VISIBLE. Week Tear Bushels Today Ago Ago Wheat ....11.165.009 30.506.000 7.54.000 Oat - 5.100.000 4.050.000 10,353,000 WORLD'S VISIBLE. - Week Tear Bushels Today Ago Ago Wheat ..101.177.000 101,116,000 100.403.000 Corn ... 32,311.000 33.061,000 23,122,000 Olla ... 63.206,000 63.313,000 56.714,000 CHICAGO CLOSING PRICES. "By Updike Grain Co. DO. ;27. July" 11. Art. I Open. I High. Low. I Cloae. Tea. Wht. July Sep. Dec. nya July Sep. Pec. lorn July Sep. Dec. oata .Tuly Sep. Dec. l.ard July Sep. Ribs July Sep. l.llti , 1 14H I 1.13 1.12 114H 1 H .13 V K .14 .13", .64 .63V .63 H .34 .37H .40S4 10.75 10.17 110.75 I10.6J 1.16 U 1 1 Vi l.Httl 1..1J 1.16 .15 li .83 i .1241 64 .14V .35lj .38 .UHI 1.144 .8314 .82 .S4V4 .81 H .631, .3V 10.10 11.17 I 10.10 10:80 I .34'i .37 Vi 40Vi 10.70 10.12 10.75 10.63 1.11 1.1414 i.m 1.164 1.164 .854 '.S31 .85 .62 '4 .6444 .644 .35H .374 .40 10.90 11.17 10.I0 110.80 1.12 1.1 Hi 1.1114 1.134 1.134 .12 .81 H 834 .61 .634 .63V .63 V4 .34t 36 39 10.63 10.85 I 110.67 110.53 v ', Kansas City Craln. "Kansas' Ctty. Mo.. July 11. Wheat Cash. No. 3 hard, I1.0SO1.45; No. 2 red. Sl.A7Ol.0S. Corn No. t white, 6814059c; No. . 2 yellow, 62c. Hay Unchanged. Kansas City, July 11. Close Wheat: 3uly. 31.08 ; September, 11.07; Decem ber. 11.09. Corn July, 86c; September, S84c; December, 68 Tie Minneapolis Grain. Minneapolis, Julv 11. Wheat Cash No. 1 northern, 11.39 1.43 14 : July. St. 40; September, ll.SlVj; December, 11.19. Corn No. 3 yellow. 56J67c. Oata No. 3 white, 33 34c. Barley 50O6c. Rye No. 2, 79O804c. Flax No. 1, 13.6802. 71. St. Louia Grain. St. Louis, Mo., July 11. Wheat July, 11.1114; September, l.Ui- Corn July, tlc; September, (3140 3c Oats July, 87c: September, S7V4c Minneapolis Flour. Minneapolis, Minn.. July 11. Flour ' Unchanged to 10c higher; family patents, I7.I0O7.75. ' Bran tl4.tOQ16.00. N New York Cotton. New Tork. July 11. The list rallied In today! cotton market under Increased local buying advancing 10 to 20 polnta In the morning and holding more than half . of Its advance to' the avid of the session. New Orleans Joined Wall street In buying contracts oivtho firmer cables and showera in tha eastern belt, which some interests . thought would increase the weevil pest. There was enough selling encountered on the-way up to bring about a modest re action about mid-day. btrt the market continued alow and was stesdy to firm in ths afternoon. Local demand and out aida support were aufficient to absorb offerlnga. The close was steady, I to 14 pointa net higher. Spot cotton was quiet, 6 points advance, I3.1&0 for middling upland. Southern markets: Galveston. 21.76c, un changed; New Orleans, 23c. unchanged; Augusta, 33.32c, 19 points advance; Mem phis. ISc, unchanged; Houston. 22.40c. unV changed; Little Rock, lie, unchanged. St. Joseph lira Stork. St. Joseph, Mo.. July 11. TJ. 8. Bureau ' of Marketa Cattle Receipts. 3,600 head; ." . market, beef ateers, yearlings and she stock strong to shads higher; others fully steady; calves, loe higher: top yearlings, 910 10, average 439 lbs.: 1.800-lb. steen, 19.4; best net sold early; bulk desirable ci'Ws. ft.50OI.2S; veal calves mostly 18.00. ' Hogs Receipts, 1.000; market very . a'.ow; shippers buying few light butchers; steady with yesterday's shipping markets; 1 10.01 paid for one fancy lead: packers doing nothing; packing sows about steady: average cost yesterday, 19.99, weight 23S lb. Sheep Receipts, 1.000 head; market all elassea about steady; fat lambs mostly S13.lt; culls, 17.90; fat ewes mostly about S6.S. J Sew Tork Cf'ial. New Tork. July 11. Wheat Spot Arm: No 1 northern spring, 1167: No. t red winter. 1.31; No. S hard winter, 31.11: No. 1 Manitoba, II 4714: No. mixed durum. 11. 12V e. i. f. track New Tork to arrive. Com Spot, firm: Ne 1 yellow and No. white, lie and No. mixed, S24e c I.. . t. New Tork, all rail. Oats Spot, firm: No. I white. 47 flic. A ,Lare-rtrm: middle west Sll.ll011.St. Other articles) aor hinged. , By CHARLES D. MICHAELS. Oaaaha Bee ixuea) Hire, Chicago, July II. Incrraaing fari of a delay in the movement of grain due to the rail and coal strike and the belter financial outlook in Europe brought in a market iucrraie in buying of all grain. At no time were prices ai low ai the previous aayt nnuit and the cloie was within a fraction of the top. Wheat ftainrd 2W&yie. corn Ifiil'.c. oats IkOi lc ami rye Ii'i3(i'. 1 he trade j uickly forgot the gov ernment report, l-.mbargo talk at iracied more attention tnan at any time so tar. I lie Kork Uland re fined to take grain on its El l'ato divumn in the south wet. The strike brought in an excellent millrtvg de mano tor cariots 01 cash wheat m all markets for quick ihipment. That had some enect on sentiment, which has become much more bullish. Met Harvest Eiaerlrnred. A wet harveat is being experienced in aom pane of the wat and southweat. while the country ahowa little dianoaliu n to II freely. l0'.l Iradera, and com mission houses were got-d buyers from tha start snd resi'llona wers short lived. at the outaids figure prices Uing up 3 '4 hli!. Kkport aentand vAa alow nni run reporta from the norlhweel rather favorable, although Hunsorfor.l found black ruit at tlaiivtn, Haak. No. t yellow corn In the sample market old at September price today, a net gain of lc aa rompared with the future. The keen demand for th" cash article more than offeet the effert of further ra'na oter the belt, and with the gisrnment reporta auigeatlng lll.000.otit) buahala lesa nan a year ago local tranera generally nrned In the bull aide. Offerlnga were not large. Hulk of the recelnta of 110 rara were applied on to arrive contracts snd shippers snd Industries competed for the balance. Oala Reflect Hlrenglli. Live Stock Receipts vers: ftffvial Hindi..., Kailinsts Tuesday.,, Too dava thia weak . Heine data Isat week Hams days I w e ae It 171 Kama day I w'a a a. 11.711 Sams days tsar ago. .11, III Oinaka, July II. Cattle. Hoga. Sheep. 10211 11.131 Six 7,o n.:ii nut to:? hot II. IIS 17 3T 31.113 13.071 is.tit :s,ooi S.JO? 1. 60S I7.107 S.fiS lings, II lit) II II) fat wstheri, l too It 31 cull lambs. Si ooaill; fat year 110; fat ewaa, light, II to J I 10; fat . aaavy, II7 is. r AT LAMBS. Ns. Av. Pr. . No. A v. Pr. IS Nat.. It III 41 Nat.. 71 lift EWES. 71 IIS ' I SI Oats r fleeted the. strength In other grsUra and s better domestic demand, the tter probably stimulated to some st ent by the strike. Considerable buying of December and selling of September at o difference was under wsy. Receipts 3 care. Houera with eeatern connections were good buyers of July rye, while offerings ame mainiy rrom spresuers wna soia lie Stptember. The letter went to !So un der the July. No. 3 on track sold at 3 He over July. ru oes. "Throughout this territory small grain i a fair average crop," wired Oeorge M. .ecount to. Stein, Alateln A Co from St. 'loud. Minn. "Some black ruat In heavy wheat and some damans will result. Crop oo fur sdvanced to bs baaiy damaged. Corn tassellng short." Eurton Hunaerford. the Logan & Bryan prop ecpert, wired from Mlnot, N. D., that from Valley City there early aeeded aprtng wheat generally la in good condition and ell hadei. very little lear rusi. some thin aland flelde heavy with wild ts. ate seeded wheat Just heading. oata generally good. Corn small. Rye gen erally good with cutting to stsrt this eek. The government rrop report suggests an ggregate of 6.12I.HOO.OOO buaneis oi xne v. trains. 187 OOO-.Ono bushsle less than at thia time last year and 11.000,000 bush els under tho final returns Isst year. Insects Do Damage. Inserts have done material damage to rrnpa In several Russian provinces wnicn hove 20.oon.oon acres. vnrihw,ir,rn mesaaaea innii-airu iii reaaed apprehension as to black rust de elopment. Higher temperstured follow. na ,,ni raina tna rne isct inai iiie ..... t... .,, Kan fnund aa far north aa tha Canadian provinces Is causing traders to watch weatner conomons very cir,j aa on the. latter will depend ths extent of the damage. , Unfavorable crop reports are coming from parts or Saskatchwan as the result of continued dry weather and unless mois ture is received only half a crop of wheat is expected. In the more southern dis tricts of that province the condition is generally good with ample mosture. rhl.M I.lvatAek. rki.., iiiiv 11 Cuttle Receipts. 12,- 000 hesd; 'corn-fed beef steers snd fat she stock, firm;, others slow, about stesdy; prime hesvy steers, 110.40: beat yearnnga, 0.30; bulk beer ateers, s.uiib'iu.uv; uuno. canners sna stocners, nciTOu,- ,. alves stesdy early; closed Jo to owe nign- ; bulk beef cows snd neuere, 66: bulk csnners and cutters, li.svSM.so, bulk bulla. $5.0005.25; bulk veal clves, .60 10.00. Hogs Receipts, 3U,uvv; oener active, 10 to 16c higher; otners slow, iteady to 25c higher; top, aii.uv; oi good butchers. 10.60e,ll.oo; pecners mostly $8.75(6)9.25: shlppera tooK aooui 600 head; holdover numerate; pie, 5c h gher, moatly is.zsupm.ze. Sheep end Lambs Receipts. 16,ooo head: fat western lambs, 25 to 60e lower. one deck, $13.50: others, iia.zo; leeae, unsteady at $12.76; native lambs, steady ot ton 113.25: sheep, steady; fat ewes, mostly $6.0007.00; two doubles holes fat western yeaning 12.00. . Kansas ty Livestock. . ' , Kansas City. July 11. tunitea niaies r,..ii of Arrlcu tural Economics. Cattle Receipts. 10.000 head; market, beef ateers. yearlings. Bhe stock, steady to 15o higher: top heavy steers. $10.10; several loads 410.00; wintered Kansas gTassers, 959.25: other interior to Kansas and Texas grassers, . low i.ay. best native yearlings. $9.85010.10: stratgnt earling heifers, 8.3w.iii: tetter COWS,' II.SSJI'S.DW: OUIK otners, 00; bulls, 2a?7ouc nigner; ooiuitno. - anclng most; bulk. M.tgi.ou; o" grades vaalers. $8.009.00. . . 1 i ... annn V. market. ow, around steady to mackera nd nip pers; top. iiu.ts: ouik rot OjtO: shippers took uoui'i.in, """""". choice 240 to 275-poundere,-jm.2oi.". packer top, $m.6u; tnrow-out ., yw lower; bum, as.oo.fv, wul. .7 B ' to 10c lower; desirame native. 0.40O10.60. Sheep and Lambs Receipts 5,000 hesd; rket, lamos steady 10 aoc atesdy; top natives. $13.00; .most sort lots, $12.7513.00: culls, $.507.00; genri - Cattle Receinia ware I lis head. With the esception of shipping kinds which sold teady to atroiig, ths msrket on handy weight and haiy ateera had a weaker fend aikln today. Prices or the bulk oemg eieaoy 10 aa much aa 100 lower, nuppiv ot yrarnnsa was exreaaive and out Ida r a few prime lots, they were hard to move at uneven declines of loOJto or fume. Rest roas asain held ateady, while sraair ainua were weak to ItrlSi' lower, niurssr" ann teeners were quolsbiy un rhsngrd. not enough being here to test ths marsei, Heceipts and dlapnaiunn of llveatnck al ins 1 nion atockyarda, omoha. Nub., for "ours, snuinjr at I p. ., July II, RECEIPTS CAR LOT. Cattle Hogaltor.Shp.A C M. t St. P, Ry Wabash R. R 7 Mo. Pac Ry 10 Union Taelfle R, R., 13 P. N. W. Ky., eaat 33 I'. N. W. Ry.. weat . II St. P., M. O. Ry 33 R. Ci. Ry., eaat , 61 R. y Ry., weat . 17 R. I. A l eaat II R. I. & P. weat . 1 Illinois .Central Ry. ., J C. O. W. Ry S Total receipts SIT 194 4 '3 IS Mul UlSPOblTION H EA O. Cattle Hogs 1,102 17 Armour AV Co Cudahy Parking Co. . Hold Packing Co Morris Packing Co. . Swift Co J. W. Murphy Swan a Co Lincoln Packing Co. . wilaon racking Co. . M. tllassburg HigHlna Parking Co. Huffman Broa Mayerowlrh A Vail .. Mldweat Packing Co. P. O'Dea St. Clair So. Omaha Park Co. . Swift from K. C. .. Cudahy from K. C. . j. n. tfuue Armour of SIojx Falls Dennis at Francis ... John Hsrvey .T R. W. Hsnley T. J. Inghrsm Klrkpatr.lrk 1. P. Lewi Krebbs & Co J. B.s Root Co. . KoaenHtocK Bros. . . Sullivan Broa W. B. Van Sant ft co. Werthelmer ft Dtgen Henry Luberger .... Other buyers I,t6 723 1.313 1,113 1 KS , 40 40 6 37 10 7 T :i 80 17 25 "ii 454 5 a 4 66 25 35 7 S 10 12 1,189 1.794 5.020 1,130 2,613 1.829 2.083 1,067 Sheep 2.S27 2.024 'mi 141 660 3.322 25c ateady heep. steady: fat ewes to killers. lly $6.oosf)6.6o. ' St. Iul Livestock. ... at i.o,ii in.. Julv 11. cattle Receipts. 4.000 head: msrket, beef steers and cows, generally steady: spots, strong; light yearlings. 15 to 25c higher; canners strong: bulls and stocker steers. b;mv- ight calves. 25 to awe nigner, for 1.003-pound steers, bulk mimw m- tlve steers. S.258.zf.; cows, '?? canners, $2.6002.75; bulls, $4.5005.00; stockers. steers. $5.6006.50; top, $9 50, bulk. $9.00O!6. t , Hogs Receipts, iu.000 neau; '""'"I1 pened 10c higher, later market. 15 to 30c higher, to $11.10: bulk, 160 to zjv-pounu averages. $10.9501105; bulk. 240 to 280 pound butchers. $10.65010.85: pigs. J10.00 10.76: pacaew sowa l"rgcij Sheep and Times Receipts. 6.000 head; arket. steady; top Ismbs. 113.0(7; buik. 3. 50018.00; culis, lo.oonpo.ii: 111 "i" ewel, $5.7606.00; heavies mostly, Sioux City Uvestock. 9iat ritv la.: Julv 11. Sioux City s Tuesdav cattle trade was topped at $10.16, the highest" price on the Sioux City mar ket in 1922. 'U Investment Strength laTcstracot strength and a wid opportunity for Wction characterixa our July Sacuritica Circular. The affariaga listad will nut stack iadmdaal iayeitmaat reejairamamt. A cewr ef this July List will be seat upea rcsjueat. Th Natitul City CwMptny Omaha First Nat. Bask Bias. Telephone IS1 Jacksoa Total 1,281 12,964 9,369 Quotatlona on cattle: Choice to prime ...in.. oei0.05: gooS to choice t unfit 40: fair to good year Hnr. ts.lOAS.SO: common to fair year- llnga. $7 60OI.40; choice to prime 9S26O9.00; good to choice heifers $7.25 I 25; fair to good heifers. $6.5007.26; 'noire to prim! cows..$7.2607.75; good to rhdlce cows. $6.2607.25; common to good rnws. $3.006.2S; good to choice $7.408.06; fslr to good feeders, ' 7.35; common to fair f- " ' good to choice stockers, $7.608.15; fair to good stockers. $6.607.40; common to fslr stockers. $5.606.60; stock heifers. $1,000 6.76: stock cowa. $3.604.60: stock calves, $5.607.6O; veal calves, $5.5010.00; stock bulls. $4.5001.00; bulls, stags, etc., $3.15 O7.00. Financial No. 6.. 16.. 31.. 40.. 40.'. 100. Av. ...1073 ...1361 ...1173 ...1301 ...117S ...1470 Pr. s 00 9 25 . 9 50 S 66 S 86 10 75 No. 25. 1 28.. 24. 33.. 24.. Av. .1016 .1235 .1115 .1205 .1017 Pr. S 75 9 35 9 60 9 75 10 00 644 843 . 870. . 611 . 942 .1000 . S40 3 12IS . S 1127 1 138 . 3 193 5... 13... 16... 6... 4... 11.!. 7... STEERS AND HEIFERS .1680 .1290 370 . lit . 665 .1050 . 926 .1143 . 943 .1271 .1610 . 950 T 00 5 50 f 00 6 25 6 50 7 10 7 25 9 00 10 2S 760 8 76 9 00 IS 13T S 60 S 60 24 930 S li HEIFERS. 6 76 10.. 7 65 5.. COWS. 5 7 1.. S It 3.. 35 3... 55 I... 7 15 6... 7 75, BULLS. 4 75 1... ( 75 1... CALVES. 8 00 1 120 Hoga Receipts wers 9,000 head. Trad ing -was fairly active today on good de mand from both ahippera and packers at prices ruling steady to 10c higher. Best light hngs sold at $10.30010.40, with a top price of $10.46. Good quality medium weight butchers sold at $10.0010.26, and strong weight butchers st $9.65010.00. Light mixed loads sold mostly at $9,600 10.15, with bulk of good hogs at $9.76 10.40. Heavy mixed loada and packing grades were slow, at prices mostly steady. Bulk of this class was at $8.759.50, with small lots of extreme heavlea at $8.25 8.75. HOGfl. Pr. No. Av. Sh. S 25 9. .365 S 85 15. .276 Sh. 70 70 70 No. Av. 12. .430 56. .313 60.. 270 54.. 271 6..2T6 9.. 295 56. .223 86. .198 Sheep and 120 120 Pr. 8 75 S 90 15 9 40 9 75 10 00 10 35 9 00 61. .293 180 S 2 5 64. .269 110 8 60 32.. 308 40 9 90 46. .263 ... 10 10 63. .265 ... 10 40 Lambs Receipts were 7.800 head. On good demand from local pack ers, all killing claaaes moved readily at steadv to atrong prices. Fat lambs, both westerns and natives, sold mostly at $13.00 f 13.25. Oood quality clipped lambs with percentage of yearlings sold at -$12.00. Feeders were strong on continued good Inquiry, best quality finding a ready sale at 112.25. Sheep were fully steady, best quality light ewes selling at 6.d0. Inmbs, western, 111.50)13.75; By FRANKLIN K. SPRAOUE. maha Bee Leased Wire, Kew York, July 11. There were advances in all markets today, a re flection in part of a more cheerful sentiment with relations to foreign and domestic affair aa well as the inevitable short covering which fol lows a decline in any quarter. It was noticeable, for instance, that Bel gian and rrencli bonds, which had been under pressure on Monday, re covered almo&i as sharply as they had declined and likewire there was strength in the foreign exchange mar ket. Both of these v developments tended to temper the outlook as to events abroad and while a crisis was admitted in Germany The opinion pre vailed that some statisfactory meth od of meeting it would be worked out. There was strength in the gram market and a slight upturn took place in .cotton. In the stock mar ket, some degree of buoyancy was evident, but this was largely con fined to the specialties. Rail Strike Continues. The situation with relation to ths rail sinks wss hsrdly encouraging, yet Utile) notice waa taken or the adverae factors. This attitude apparently arises from the fart that Wall atreet has never taken the rail atrlka seriously. Rather It has considered that ths strike might be ended sfter a relatively brief period of time. Alao the developments today were not so unfavorable as might appear on the aur face. The holding up of freight and mall aervice cams about' through lack of in spection men for ths trslns that wers in operation and soms trains, therefore, had to be dropped from schedules, but not because operating men themselves had Joined the shopmen. The recovery in French and Belgian bonds In itself probably means little with relstion to the foreign situation, The selling ef ths preceding day had been without reason, In fact, was to bs traced to operations of speculators for the de cline and no real feara having been aroused recovery raised prices almost to the level wmcn ruled at the hign on Monday. Alao the foreign exchange rates could not be taken as a real guide to conditions, for In this quarter, too, short selling hsd been of hesvy proportions snd it was in order that covering snouia bring about a recovery. Moratorium Open to Doobt. Whether or rot Germany is granted a moratorium such as she desires, may be open to doubt, but st lesst it does seem probable that the outcome of tho pres ent crisis in Germany, may bring about some postponement of the forthcoming reparations payment and lead to a clear definition of Just what Germany haa to pay In total reparations. A scaling down may lead to sharp opposition in Frsnce,, but ultimately this may bo cdhceeded on the basis that this course Is better for all concerned than to bring about a politi cal and economic upheaval in Germany. Eventually if French opposition is with drawn some basis may be found which will make feasible the calling together once again of a committee of bankere to consider the question of an interna tional loan. Speculative! Advance. Advances In the stock market were most pronounced in some of the highly speculative issues. It wss significant, too. that certain oT the railroad stocks showed gains, as, for instance, Norfolk and Western, which moved forward 2'4 points. All the rail issues were firm, which presumes that the market looks upon the present difficulties besetting the carriers as of only temporary char acter. Among the specialties, such is sues as General Asphalt, some of the leather stocks. Gulf state steel and Amer ican Ice were indicative of the character of trading. The bond msrket was the exact oppo site of the stock market. In this quarter demand centered in the highest clsss investment bonds, as for instance, the Great Northern Pacific Joint Hs and Great Northern General 54s. Call money dropped to 314 Per cent st the, close of the day, the lowest rate since June 23. This) ease was attributable ta a further and somewhat belated re deposit of funds distributed In the half yearly settlements. ' New York Coffee. New Tork, July 11. The market for coffee futures opened at a decline of five to elffht points under runner sca-nerm liquidation which was promoted oy mo easier showing of Brazil. Offerings were light, however, and after the selling had, been absorbed, the market steadied on covering although there waa no change noted in the general neus. , March sold up from 939 to 950. and sfter net losses of 6 to 18 points, the market closed 1 to 3 points net higher. Sales were estimated at about 9.000 bags.' July, 9.65c: September. .66c: December, 9.51c; January, S.60; March, t.49e; May, S-46C. . . m. Spot coffee was reported in rair o- mand st 10io to 1014c lor Bio osvens and 1414c to 14 He for Santos fours. Cost snd freight offers Included Santos 3's snd 6 s. part bourbon at 13.96c to 14.16c and, Rio 7s at 10.66c, American credits. The official cables reported an advance of twenty rels in the dollar buying rate and a decline of l-32d in the rate on London. The Rio market was 60 to 100 rels lower. A special cable reported a decline of 76 to 125 reis In the Santos market today. New York Stocks Rsnge of prlree of the lesdiag atarks furnlahed by Logaa A Vrysa, III Pslsrf Trust building: RAILROADS. Monday High. I.ow. nose. Cloee, A , T I. r 1014, 0 S II V lot, lit 13l 111 If HI. II. St 91 llt II II 101 ' Slli U. eV O.. Canadian Parifto. N. V. Central,,,, Cheaa. 4 Ohio,... Ureal Northern, . , Illinois Central., . K, r. Southern. Lehigh Valley..,, Mlsauurl Pacific. N Y. N. It.... Northern Pacific. Chicago N. W. nn. K. n Rsadlng R. I. P Southern Pacific. :t4 i a 44 T6H 4314 90 Southern Railway. 244 M. Union St. P. raclfic, im n :n 77 41 Tile 4 9S 241a : Kansas City rrnduee. Kansas City. Mo.. July 11.- fat lambs. Eggs and Poultry Unchanged. -Butter, bank Statement BANK STATEMENT 9730. Reserve District No, 10. Charter No. REPORT OF CONDITION OP THE CORN EXCHANGE NATIONAL BANK AT OMAHA IN THE STATE OF NEBRASKA, AT THE CLOSE OP ON JUNE SO, 1922. RESOURCES Loans and discounts, including rediscounts, acceptances of other banks, and foreign bills of exchange or drafts sold with indorsement of this bank Overdrafts, unsecured U. S. Government securities owned: Deposited to secure circulation (U. S. bonds par value).. $ 187,600.00 All other United States Government securities, (including premiums, if anvl Other bonds, stocks, sseurities, etc.:.. ." Furniture and fixtures Lawful reserve with Federal Reserve Bank Items with Federal Reserve Bank in' process of collection Cash in vault and amounfdue from national banks Amount due from State banks, bankers, and trust com panies it. the United States Exchanges for clearing house Checks on other banks in the came city or town as re porting, bank Checks and drafts on banks (including Federal Reserve Bank) located outside of city or town of reporting bank Miscellaneous cash items Redemption fund with U.. S. Treasurer and due from U. S. Treasurer Other assets BUSINESS. S2.604.S94.12 2,916.67 118.4(0.00 255,900.00 93,908.84 15,983.61 248.817.82 108,922.78 679,408.2 49,209.28 41,885.60 1.867.46 6,764.10 2,418.09 1,036,078.82 6,876.00 17,217.50 92,408.55 20,625.02 2,600.00- 247.780.09 (84,885.22 S, 288.27 9,862.26 70,656.84 (.016.00 294,471.08 12,179.16- 300.000.00 100,000.00 115.T528.57 137.600.00 'Total , 64,033,448 56 . LIABILITIES Capital stock paid in Surplus fund Undivided profits t Reserved for interest and taxes accrued Reserved for depreciation on bonds . . Circulating notes outstanding Amount due to national banks Amount due to State banks, bankers, and trust com panies m the United States and foreign countries Certified cheeks outstanding Cashier's checks outstanding Demand depealta (other than bank deposits) subject ta Keaerve (deposits payable within 30 days): Individual deposits subject to check 1,971.136.27 Certificates of depoait due in less than SO days (other than for money borrowed) Dividends unpaid :.. Tuns deposit subject to Reserve (payable after 36 days or more notice, and postal savings) : Certificates ef deposit (other than for money borrowed) Postal savings deposits Bills payable (including all obligations representing money borrowed other 'than rediscounts 1 ........ Liabilities other than those above stated 8,252,662.14 106.600.00 21,267.86 Total .(4,083.448.66 Stat of Vebraska, County ef Douglas, ss : L H. 8. Clarke. Jr.. President ef the above-named bank, da solemnlv swear that the aboVk statement is true to the best of my knowledge and beiief. H. S. CLARKE. Jr, Pesident. Correct A ttet: THOS. FLYNN. B. F. MARSHALL, , H O. EASTMAN. Director. Subscribed and sworn to before me this 10th dsy of July, 1921. (SIAX) ' HILDtSJ) MULLEN. Meta-gr fjibUa, Allls-Chslmers American Loco Naldwln Loco . Bethlehem St Colo F A I ... Crucible ... Am Ht Fdry I.acka st Mid St Pressed St Car Rep st A Iron . Ry St Springs . Sloss-.Srheffteld U 8 Steel Vanadium Otis Steel 21' ..111 - 111 ST K M.S. ,. 601. Ill, 111 113 St I4S so 77 IT 48'4 1Sv 4I1 90 tm Tl ns 94 S 7-s 79V, J l t4 it :j'4 so IT 7IH 411, 11 9 : Mil 140 1014 to 113 118 ...1164 ll"4 H'4 114 IT 814 Ttl, ST TI14 3S14 T'i Till Tl l , 714 f"4 US 7Vi 41 I Hi 41 Anaconda Am 8 A Ref Co rro d Pasco Chill Chlno Grsen Cansnsa , naplratlon , Kennecott Miami Nev. Conaol Ray Consol..,.., Seneca Utah General Asphalt., Coaden Cal. Petrrol Island Oil Invincible Oil..., Mexican Peterol., Middle States.... Pacific OH Pan-American .,. Phillips Pierce Oil ...... Pure Oil Royal Dutch Sinclair Oil Std. Oil, N. J.... Texas Co Union Oil White Oil .. 41 ,...ioot; .... 47 .... 12'4 COPPERS, .... St4 6314 . 114 . SIS . 2214 . 3t . sm . 40a . 3t4 . 2114 . 1114 . IIV4 . IS . I3H OILS. . 69 . 1114 . 6414 . 144 04 344 2214 2 V. .11 H 40 3114 ' is 1614 13- 6314 II 464 41 '4 4 1414 744 71 37 71 H "I. 11 13 ii S1 14 4414 114 6214 m Sl4 S2V4 :sii 3114 10, 'IS :t'i 1614 114 13 1114 6114 41 634 4 144 7114 SI 74 U 3114 111 3 75'4 101 414 S94 4114 624 60 4 ii4 3S14 404 914 SO 144 II '4 12'4 US sm 1414 S24 15 .113 1614 16314 163 14 134 14 134 174 6614 67V4 664 124 71 72 7la 60 , 4114 494 494 ,.. S . 74 I .! 804 214 30H 294 ... 614 56 664 6514 ... 334 33 .324 3214 ...1144 114 1114 163 ... 47 4 414 46 4 464 ...224 21 224 21 ... 84 14 14 -.14 MOTORS. Chandler 1 71 70 70 70i General Motors ... 144 144 144 144 Willvs-Ovsrland .. 84 14 34 84 Plerce-Arrow IS 14 19 14 White Motor .... 49 41 49 414 Studebaker 1364 133 4 134 133 RUBBER-AND TIRES. Fiak 154 154 64 154 Goodrich 104 394 3S4 39 Kelley-Sprlngfield 41 4 41 4 41 4 47 4 Keystone Tire .... 164 154 164 164 AJax 164 144 144 154 124 l!V tits us iS lit, UW 114 3ii lie V, fl Rubber 114 614 IIV NI'LTKlAt S Amer Meal Hug 14 114 114 114 At ,, tlulf W. I, -SI4 IIV, 31V T Am: Inter. Saru, ,, 114 124 13 114 amer. Teie Central Mather . I'uLa fane 'Cue -Amer Sugar Corn Produi is , , famous Plater , lien Klei'irie On North Ore ,,,, Int Harteater ,, Am H I. pfd .,, Int Paper ,, Int M M pfd 74 4 74 Am Sua II-f .... in fl H. ar. Roebuck.... TI4 TT Htrom.burg 494 41 Ton Prod 71 '4 74 Worthing Pump ,.14 114 Wilaon Co I) 414 Wealing Klec 14 114 Am Woolen 90 4 114 .134 i;4 It 114 114 114 114 :i :i4 1"4 1014 144 19 134 S3 1:4 "S 4"4 3IU I , a4 o4 1SS14 J014 71 ! 14 II 7 41 79 TT4 114 414 114 914 714 404 US 714 4i '4 43 II II MISCELLANEOUS. 34 14 344 24 374 3114 Am Cotton Oil .. 3S4 Am Ag Chm .... Ill Am Linaeed 3t Union Hag pfd poem Hag Brook R T font Can . Col. Gas Eleo... II Columbia Oraph... 44 United Drug II National Enamel.. 144 United Fruit lirlllard Tobacco I SS 4 113 national l.raa l3 Philadelphia Co rullman 120 Punta Ale. Sugar.. 44 414 Retail Store II U 17 4 St, L. H K 214 214 Va Car Chemical. 31 304 Total sales, til. 100. !I4 "V It !l SH4 314 12 1 4 114 114 .... Ml 1114 1634 I014 102 4 104 ..... ..... 34 ii4 i:e 1:1 414 304 174 .,l "4 63 4 174 644 41 47 4 214 304 Meey fine, 14 fir fsati Meads' eleae. 4 per real. Marks 4,'leee, ,t:ie Mender els, teil4. Pr.nra Cle, ,tllle Meidsy (less, llliws Ni.rH, Class. 14 4141 M4r 14 444, It New Terk. bee 114. Mesirs Hollar 44e. tta Stiver, July 11 atlver fersls New tee IMed frail. . . , Near Tork, July II tif'id Apple umei Prunes I'nselllid. Aerirele Nemiaal, Peaehea ')uiet. Raisins fum. I (few Task Prwdsvc. Tor,. July It Hutler Bsrslf -Irregular, with a firm wadsr C4. HAWK (TaTttMRMT ItAfcR STATEMENT (ll.lSS.tM.t. 31,107.11 Ne. 3171. Reserve District Ne, 16. REPORT OF CONDITION OF THE UNITED STATES NATIONAL BANK AT OMAHA, IN THE STATE Of NEBRASKA. AT THE CLOSE Xt BUSINESS ON JUNE (t, Kit. RESOURCES Loam and diseeunli. Including rediieeuat ,. Overdisfls, unaseured , , ,,,, U. S. tjeverameal securities owned 1 , Deposited to secure circulation (U. R. bonds par value) f ail otner united Slates tiovernmenl securities (includ ing premiums, If any) ,,, Other bond, stack, securities, elc.i Panklng House , lawful reserve with Federal Reserve Rank Items with Federal Reserve Rank in process of collection Cash in vault snd amount due from national banks.... Amount due from Stat banks, bankers, and trust com panies In th United State (other than Included in above three itemal ,, Exchange for clearing house Checks oa other banks la the ssm city or town as re porting bank (ether then abov item) Check and drafts on bsnks ( Including federal Reserve Bank) located outiid of city or towa of reporting bank Mlerelleneou cash itetni , Redemption fund with U. 8. Treasurer Other aaaet , I(,(0(.(( 1.1(1,364 Ot l.ltf.S4ttS 114.11 01 s.f as.iia.ss 141,021 13 317,111 ti IS.SSt 7( 147.416.71 17.418 47 8.100.00 1,441,864 00 913,041 It (60.000.(0 6.016.167.(1 306.00 Tout VifctotemtaWKSOi MUNN tiXOa tuwer Bulldlnc. Clllt'Ano. ILL. ntlfle American ftl.tr . WAflHlKnTiiN, D. C. S.'lsntlfie American Ride. WAflHlKnTiiN, wooienrta nutiainf. mw Tfifla Hobart Bide. (AN fRANClSOU. CAL. General Motors Dividends There ar a number of im portant development pend ing in this itork. This stock Is completely covered ia this week' iliu of the Market Review, Free Copy en Request EditioB Limited I P.G.STAMM&CO. Members Consolidated Stock Exchange of New York 35 So. William St., New York LIABILITIES y" Capital stock paid In Surplus fund Undivided profits Reserved for Interest and Use accrued.. Reserved for depreciation Circulating notes outstanding Amount due to national banks ,166,,II6.67 , .111,121.867.11 1,100.000.00 700.000.00 (88.792.47 256. 181. 1! 132.427.87 60.000JW t.tti.ltt.U 86.(18. 79 1I4.77(.79 10,491,142 :4 218.129.18 13,113.10 6:5.284.(9 1.968,479.29 l(.8(t.(2 Amount due to State banka, banker, and trust com. panic In th United State and foreign cruntrles (other than Included la abov item) Certified cheek outstanding n , Cashier' check outstanding Demand depoaits (ether than bank deposits) subjsct fa Reserve (deposits payable within 80 days) I Individual deposits subject to check Certificates of deposit due in less than SO day (other than for Money borrowed) t Dividend unpaid Tim depoaits eubject t Reserve (payabl after S( days, or subject to 80 day or mora notice, and postal savings) t Certificate of deposit (other than for money borrowed) Other time deposits Postal savings deposits , United States deposits (other than postal savings), in cluding War Loan deposit account and deposits of United States disbursing officers Letters of Credit and Traveler' Check sold for csh and outstanding Liabilities other than those abov itated Total .. ' State of Nebraska. County of Douglas, : I, 3. C. McClur.- Cashier of th above-named bank, do solemnly swear that tha above statement is true to th best of my knowledge and belief. J. C. MeCLURE, Csihier. Correet Attest: THOS. A. FRY. A. B. CURRIE. JOHN H. CALDWELL. Director. Subscribed and sworn to before m thia 10th day of July. 1(22. (SEAL) v E. E. LANDSTROM. Notary Public. 8:3.576.62 19,082,691.84 18,176.00 20,000.00 . .S21.628.867.8S $25,000,000 The New York Central Railroad Company REFUNDING AND IMPROVEMENT MORTGAGE 5 GOLD BONDS, SERIES C Dated October 1, 19J21 Due October 1, 201S Interest payable April 1 and October 1 in the City of New Tork Redeemable, as a whole but not in part, at the option of the Company, at 105 andaccrued interest, on, but not before, October 1, 1951, or on any interest date thereafter, on three months' notice. Coupon Bonds in denomination ot $ioo (not registerable) and in denominations of tifioo and t$oo, regis terable as to principal. Fully registered Bonds in denominations of $1,000 and authorized multiples thereof . Coupon and registered Bonds interchangeable. The issuance of these -Bonds has been authorized by the Interstate Commerce Commission. Guaranty Trust Company of New York, Trustee A. H. Smith, Esq., President of The New York Central Railroad Company, has summarized as folloVn his letter to us describing this issue : . " The proceeds of these Bonds will be applied to the retirement of the $5jooofioo ot j Col lateral Trust Bonds of the Company, which Bonds will be called for redemption on September r, 1922. The Refunding and Improvement Mortgage Bonds are secured by a direct mortgage on all oJ the railroad owned by The New York Central Railroad Company, the main line of which, extend ing from New York City to Chicago, is one ot the trunk lines of heaviest traffic in the United States. - For the last seven years (i. e., since consolidation with the Lake Shore and Michigan South em Railway), the Company's net income, after deducting rentals and miscellaneous income . charges, averaged $38,001400 per annum, as contrasted with $24,057,985 average annual interest charges on mortgage and other secured debt. Net income in 1921, after deducting rentals and mi's cellaneous income charges, amounted to $63,090,362 as compared with $225,969 interest charges on mortgage and other secured debt. The Company's net railway operating income for the first five months of 1922 amounted to $20,190,353, as compared with $11,775,742 for the corresponding period last year, an increase of 60. Inasmuch as the proceeds of this issue are to be used to re tire existing debt carrying a higher rate of interest, the issue of- these $25,000,000 Bonds will re duce the' Company's annual interest charges. The average interest rate on the Company's mort gage debt, including the present issue and $480,161,000 underlying bonds, is approximately four per cent. . v Since January 1, 1915, the Company has added to surplus approximately $8ojooofl0o from cur rent income after payment of dividends on its stock. The Company has additional resources in the undistributed earnings of subsidiary properties, its proportion of the undistributed surplus earned by five principal steam railway subsidiaries during the last seven years amounting to more than $44,000,000. - v e The outstanding securities junior to the Refunding and Improvement Mortgage Bonds in clude $105,500,000 Debenture Bonds and $24997,355 par value of capital stock. For evefy year since 1869, dividends have been paid at the rate of at least four per cent per annum; since 1900 the rate has been not less than five per cent per annum. In the opinion of counsel, the Refunding and Improvement Mortgage Bonds are a Ugal in vestment for savings banks in the States of New York, Massachusetts, Connecticut and New Jersey. ' , v , r (THE ABOVE BONDS ARE OFFERED FOR SUBSCRIPTION, SUBJECT TO ISSUE AS PLANNED AND. TO THE APPROVAL OF OUR COUNSEL, AT 9iVz AND ACCRUED INTEREST, TO YIELD APPROX IMATELY 5.30 PER CENT. Subscription books will be opened at the office of J. P. Morgan & Co., at 10 o'clock A. M., July 11, 1922. The right is reserved to reject any and all applications, and also, in any case, to award a smaller amount than applied for. The sum due on allotments will be payable at 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, exchangeable for definitive Bonds when prepared. - "New York Central Railroad Company Ten-Year 7Collateral Trust Bonds', due September 1, ,1930, with' all unmatured coupons attached, will be accepted in payment ii 105 and accrued interest to date of payment on allotments. J. P. MORGAN & CO. FIRST NATIONAL BANK, New York THE NATIONAL CITY COMPANY) GUARANTY COMPANY OP NEW YORK BANKERS TRUST COMPANY, New York HARRIS TRUST & SAVINGS BANK, Chicago, HI. KIDDER, PEABODY & CO. LEE, HIGGINSON & CO. New York, July 11, 1922. ' I 11