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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (Feb. 6, 1921)
THE BEE: ' OMAHA, SUNDAY, FEBRUARY., 6, 1921, 11 A -i - Market, Financial and: Industrial News of 'the Day Chicago Grain By CHARLES D. MICHAELS. ttaice Trlbua -Omaha Bee Leased Wire, Chicago, Feb. 5. Green bug rc ports from Texas and reports of ex port buying of wheat, which induced short covering, were largely respon sible for the advaiv-uig grain prices today. An oversol condition which the market regarded as well liqui dated, placed it in a position tq be advanced sharply. Selling pressure was Iicht and buying aggressive. Prices made their lowest early and the highest at the last, with a more confident ieelmc among holders and less nerve among bears. Net gains for the day were 3J.s4c on wheat, mlJ4c on corn and oats, on rye, and use mi barley. In the face, or the most depressing ccnaitions ana poor speculative buv ing support, wheat prices are off only 36c, as compared with a week ago. . Corn and oats, after making trie lowest of the season, tinished with corn jEjlgjlc higher and oats JtoiSic. Ke lost 3V(Z7'Ac. and barley 1$c. Provisions were depress ed ana closed well toward the low est of the week, with pork off ' l.U'A, lard 75c and short ribs 47'c " lower than a week ago. Wheat Valuta Stronger, Ughttr offering's of wheat in the soulli weat, higher cash prlcea In practically - ajl markets. Indications of a 'lighter move- Tint-ft reports that Greece had bought 1,900,000 bushels wore lactors which hotpert strengthen values. When prlc? -wera the lowest, due to bearish Argentine news, reports of green bugs in Texas, where the wheat crop la not large, started buying which absorbs! the surplus, and Jater the report that Greece hod bought wheat helped to Increase buying. 'A gen-, "i-tfl covering of commitments resulted In nn advance of 4?i(BSc from the early tow. l ater reports that Greece hod not bought , wheat, but would buy Monday, failed to atop the upturn. The only, export busi ness was 340,000 bushels at the gulf. Iteport that Argentine wheat was of fered c. fl. f. New. York at S1.75 with all taxes paid end that Germany had bought 6, COO, 900 bushels fmL Australia and In ,11a at 5! under American were without effect as a bearish factor. The short in terest was cut down and commission houe selling was liberal on the advance. Country offerings of corn were not large and the roads are bad, so they are net expected to be large for some time. With wheat up and offerings lighter, local pro fessionals bought freely and advance! prices 2c, the close- being strong. Cash demand wan light. The week's receipts were off !, 440,000 bushels from the previ ous week, but the largest at this time in more than five- years. .eta trading was tha largest In Weeks, with covering to take profits the feature. Prices-advanced lHc and closed at the top. 'fas week's receipts made a good show ing, although smaller then of late. Ky advanced with other grains, with efferings light and shorls covering. Spot barley waa I la higher. . ' , ; Pit .Motes. ; A number -of large local traders, who have been on the selling side of grain all week were active today in buying under cover to even up. This was specially no ticeable in corn and oats. In wheat, out side tradere -were active In covering. The northwest houses bought wheat, corn and oats on a good scale and Winnipeg op erators were large buyers of corn. A more ' encouraging feeling was noticeable among local traders, especially those disposed to look at tha low prlcea for corn on the farm. - j The advance has reduced the short in terest and may necessitate a material In crease ia buying to carry prices up fur ther. Those bearlshly Inclined believe the advance will not last much longer and advantage should be taken of the bulges to obtain profit and reinstate their lines. Russell's News at New Tork, diseasing 4h claim that 'Argentina wheat could be laid down thera at 11.75, said the report did not anpear quite correct. asca on February wheat at Buenos Aires closing at'll,12, autturn and insurance are V,o, f.o.b. charges 5c, freight at least 10c per bushel and the. export wheat duty Is about lle, which would make the cost laid down at New York around $1.8l4. A local trader, discussing the reduction In prices, said It does not mean commod ities haw been sold, as the declines have not brought buyers. Germany Is to remove restrictions on Im ports of lard, effective February 15. Italy Is considering the fjontrol of food products, following the lead of Kngland and Franco. The southwest eer in a great deal of bullish news yesterir. Kansas City mes sages satd the big movement of wheat is over and farmers are not selling. Omaha snt the same kind of messages. Latest cables from India say recent rnlna have benefited tha-erops .and pros pects are fair. .''"' Anyone advocating or In any way en-, rouritginit tha ehort side of grains at the .present level of prlcer. and in the present circumstances, 1 showing a greater dls ri'g'nrd for. the bast Interests of the country ihim the rankest profiteer during the war period," sid S. 1. Antot. , 'We epect lartror receipts In wheat in the near future," wired Thomson & Mc-Klnnon's-Kansas City office. "Tax time 'n March 1, with improved country roads, notices of consignments are increasing." ffther messages indicated the country was not selling. . Renewed claims of green bugs being funnd by government agents in Texas wero received today. Out the locations were not given. J Cablca from London expressed a bearish view of the when, situation and said foreign governments were abstaining from buying In Am.erici, expecting to obtalu cheaper grain elsewhere. - CHICAGO CLOSING PRICES. .Grain Co., Doug. I52T. Feb. 6. Financial By ALEXANDER DANA NOYES. Chicago Tribune-Omaha Bee leased Wire. New York, Feb. 5. The New York Federal Reserve bank's state ment threw some light on the week's tiehteninir of mouey rates. The bank's reserve ratio declined frrfm 38.3 per cent to 38.1'; it is now the same as a -Lrtnii?ht ago and other wise the lowest since the beginning of December. The past weeks de crease did not result, as that of the three or four preceding1 weeks, from reduction of cash reserves; that account increased $5,400,000 last week. But rediscounts were en larged hv $25,300,000 and they are now $10000,0b0 greater than in the middle of January and the largest since December 3. V This reflects Very evidently ..the demands on New York, banks tor credit by the west and south, which have driven New York banks to the federal reserve A less intelligible change for the week i" the increase $8,700,000 in the New "York Reserve bank's note circulation. the first ex pansion since Christmas week. It is a curious economic fact that the same check to the reduction 'of note cic? culation which had prevailed since January began occurred last week at London and Paris' as well , as at New York. Iluslnett -Not Large. Today's business on the Stoi'lc Kxchnnpe nnt inrare. but tlu-re was Nioticcablo absence of pressuro and repurchases by the speculative' fraternity caused further fractional recoveries' which in a few stocks, ran to a point or more. Compari-nri-nf-ih..veek prices with the (-Closing- of a wee'.i ago, shows decline for the week in practically an inn murnui, with losses in the important stocks rang ing from one to three points. The bond market also ended the week, as a rule, with net declines, and some of them aro considerable, but titcre is aiso a ,iair pro portion of advances The- fall in average English prices ot commoclitles durlr.g January, as shown by the London Economist's monthly "In dex Number" published today, was U per cent. The decline since the high mark of the period was reached lust April has been 32 per cent. This bKunquestlon .hiw ti,o mnt rnnlrt decline in any such short interval as ever occurred in English commercial history. The same exceptional position in our own nisiory nas oeeu achieved by the 89 i-H per cent decline in American prices between last February and theVnd of 1920, as lately flguredlout by Bradstreet, and even by the somewhat ICAG paMkjsjl I ibnen "Art; I "Open. I HlRh. ! Low. I Close. I Yes y Wht,- Mar. Slay Ityo May July Tern May duly uts lay uly 1'ork" fWfay I nard' Mar. May ' ' Klbs May I i.'fcwi i.s7'i;,t.Em 1.57Ui-L52'4 1.47fci 1.44 I i.nvs! ,.?! vtii SLM Willi 1.30 1.1S ,! 1.114 l .654t .43 .44 '.4l .sl 1S.M 11.S5 2W5 '21.70 At 11.00 11.S5 I I 113.55 111.63 I. 3?H LIS ' .68V4 .42 T4 .45 II. 7T 13.05 111.77' 1.3044 1.12 .65 t67 .41 '4 .4214 22.25 13.05 13.05 I 12.00 Chicago UY8toelt. Chicago, i Feb. 6. (IT. S. Bureau of Marketa)-Jcattle R-icelpts, 1,000 head; market compared with a week ago;,3eef steers, generally SJo lower, spots off -sore: she stock- 21 ft 60c lower; bulls, 50c lower; calves, 11.00 1.50 lower; Blockers and feeders. 255fc lower.- - Hogs Reeeipta, 8,000 head;, market, steaa(, to lo higher than FrldayV aver age; closing weak; top. 10.36; bulk 200 lb. down, 1.0010.29; bulk 220-lb. up, S.S09.W;plgs atedy to strong; desir able 109 ta 110-Ib. pigs around $10.00. Sheep-Recefpts, 4,000 head ; market ' rompa red -with a week ago: Handyweight lambs, 366o lower; weightier kinds SOs 1.3 lower; yearlings. 31.2631.50 low , er; matured sheep, 6Mo lower; feeder lambs, 16C031.6O, lower. City Live Stack. Kansas City, Mo.,' Feb. 6. U. S. Bureau af Markets.) Cattle Receipts, 200 head; market for week: tfeef steers. 35 60c lower; she -stock, 2S 75c lower; canncrs. steady; bulls, ztstoc lower; calves, ii.vu 01.O lower; stocker's and feeders, most ly 60a lower; stuck cows and heifers, 16 O36o lower; stock calves, 66076c lower. Hogs Receipts, 600- head; u shippers, 16036a lower; to packers, around steady; fun SS.7S. - Sheep Receipts, 300 head; market for week: Lambs and yearlings around 61.00 lower; ahipptra, 69c$1.0o lower. .j-' Tarpntia and Boala. . ' Savannah, ,Oa., Feb. S. Turpentine Quiet, lHc;'no sales; receipts, 136 bbla; shipments, 363 bbls.; stock. 151. 5 bbls. Rosin Quiet: no sales; receipts, ' 35 casks; shipments, 1,004 casks; stock, 62,- 673 eaaka Quote a D. E. P. G. H. 1L I. K. M. N. WO. WW., 311.60. "' S. Jumh IJts Mock. St. Joseph. Mo., Feb. 6. Hogs Re- - eeipta, 6,000 head; 10 to lie lower; top, 33.30: balk. 3S.16fi6.16. ' Cattle Receluts. 106 head: normal: reera, 36.0696.60; cows and heifers, $3.06 vi.ov; eaives, li.40ei.5n. bA Sheep None; nominal; lambs, $3,009 J7:66; ewes. 34.00C4.6O. N'ew Tork Prodsce. Kew Tork. Feb. 6. Butter Firm; rsamery miner than extras. 4Ctt0 47c -rreamery extras, 46c; creamery flrs'i, 41 46C. : . Bggs Weak: fresh gathered extra first's 46e: fresh gathered firsts, 46947c . Cheese Steady, unchanged. Live poultry Olquoted. Dressed.-steady and unchanged. smaller decrease of 2 per tent betWaen last Mav and tho opening of thia month, as reckoned by Dun through a somewhat different method. The latest similar compilations for other countries show such decreases from last year's high! level as 19 per cent in Swedenr 2614 If) France and 36 in Japan. Question Euey to Answer. Ife is often asked why thlA world-wide decline in prices should, ort this occasion, have broken all -precedent tor after-war readjustment. The question 'M easy to answer. 1 . Never tefore in history was credit used on such a scale as hi 1919 to put up prices when the economic movement should nor mally have been downward. What has been happenlnu since the Burin of 192'i Is the cancelling of the unwarranttn marking up of tbi same prices in 1919. But reaction under s'jch conditions was bound to gontrther than mere return to the prices of armistice week. Our own average is now the lowest since the middle pf 1510, and even England's Is less than Tv any month since May of 1917, a year and a half before the peace. What tltlr. year's markets will determine Is whether this fall to the early . war time level Is due ,to the temporary momen tum of the violent reaction from the arti ficial prices of 1919, or represents a decline which should logically hava come when the armlstica was signed. . New York Quotations Range of prices ot the leading stocks furnished by Logan & Eryan, Peters Trust building: . .. if a 1 1. a. High . S1U 33H. 70V4 13H 7fii "14-... SVi S9 . 31 J9!4 1 19 "4 S3i 4i 824 2i 96 . 21 2PH 34 S4V4 87 v 7?4 ii 6544 27 27 91 1 29 29 30 '61 '81 13 12 2214 34 11 1S4 66 VI 64 44 73 '99 S4 30 "sBii 'si" 34 8 Hi-. 32-4 87 65 27 91 29 62 30. Ja- 92 64 50 81 A.. T. & S. F. . . . 61 Baltimore & Ohio 33j Canadian Pacific. .116V4 N. T. & H. R 71 Ches. & OhicK ... 68 Erie R. R. 18 Ot. Northern, pfd, 7tH4 Chi. Gt. Western Illinois Central.... 89 Mo., Kan. Tex.. 2T4 Kan. City Southetn 19 Missouri Pacific. 1814 N. Y., X. H. & H. . Northern Pacific. S4?i Chi. & N. W Pennsylvania K. r.. - Reading Co. .... S3 C, Rk I. & P. ... 2 South. Pacific Co. sB-fife- Southern Railway. 22 ' Phi Mil. . St. P. 27 TTnlnn. Panlflc 119 4 11 Wabash 7 7 STTCELS. Am. Car & Fdry..l224 123 122 1?1H Allis-Chalmers llfg Sl Am. Loco. Co Utd. Alloy Stl Gp . . . .. Baldwin Loco TVUo Beth Steel Corp... 66 Col. Fuel & Iron 27 Crucible Steel C. 93 Am. Steel Fdryr. . 30 - Lackawanna Steel MIdvale Steel 80 Pressed Steel Car Rep Iron-Steel Co. 65 Sloss-Shef. titl.-lrn U. S. Steel 82 COPPERS Anaconda Cop. .. 89 38 Am. Smlt.-Rfe. Coy' 42 4S Butte & Sup. j... A 13 Chile Copper Co... 1314 Chino Copper Co. 22 lust,. Cons. Cod... 36 Kennecott Copper 19 19 Miami Cop. Co.,. 18 1S Nev, con. cop. . . i i f Rav Con. Cop. Co. 13 Utah Conner Co... 66 Am. Huet SuKar.. 42 42 Atl. O.&W.l.S.S... 64 Am. Inter. Corp.. 42 Am. Sum. Tob. Co. 76V4. Am. Cot. Oil .Co Am. Tel. & Tel... 99 Am. Zinc, L., Sm. Br'k'yn Rap. Trans 14 Beth'llm Motors., Amer. -Can Co.... SO '4 Chandler Mot. Car. 71 Central Lthr. Co.. 40 Cuba Cane Bug. Co. 22 OaU Packing Corp. Cal. Pet'l'm Corp y..;. Corn Pdct. Rfg Co 69 69 Nat. Enam, Stamp Fisk Rubber Co.. 14 Gen. Electric Co Gaston Wms., Wig. 3 Qen. Motors Co... 1414 Goodrich Co. 39 Am. Hide, Lthr Co 10 Haskell, Brkr. Car U. S. Ind Alcohol. 6714 Internal. - Nickel. . 15 Inter. Paper Co,.,. 67 SSfe 3Sr 42 I 42 134 12 r2' 5 19 18 11 13 56 V4 42 64 44 13 11 2214 34 19 10 13 65 42 63 43 13 Nl4 29 i 30 78,78fe .... 21 99 S 70 , 39 22. 14 "j .14 39 3 '67 15 67 70 40 22 69 ii "3 14 89 10 Alar Rub. Co... 36 86 67 16 67 3 46 4t V 14 j 14 5 5 9 8 13 3 29 70 40 21'4 61 33 69-i 60 1414 126'4- 3 14 3914 9l.l 67 67 15 67 35 46 14 14'i 6 Kellv-Sn'nTld Tire 46 Keystone Tire. Rub 14 Pinter. Merc. Mar.. ..... UlTKtll Mot. Co.. Me- Petroleum... 156 155 158 156 Middle States 01113 -13 ' J . i Pure Oil Co 34 Vt lllys-Overla'd Co. 7 74 25 60 69 Pierce Oil Corp Pan-Am. P. & T.. Pierce-Arrow Mot.. Royal Dutch Co... tt. S. Rubber Co.. Am. Sugar Rfg Co 93 Sinclair Oil ft Rfe 23 Sears-Roebuck Co. 88 Strom'g Carb. Co.. 3744 studebaker Corp..; 67 Tob. Products Co. Trans-Con. Oil..... 9 Texas Co 43 V S. Fd. Pr. Corp. 26 V. S. S..TI. & M.' Whlta Motor Co West. El. & Mfg.. 44 Am. vt oolen t o 34 - 7 10 73 24 60 68 92 23 87 37 6614 62 ' 5214 34 7 10 74 25 34 7 10 73 4 93 224 88 36 9 42 23 66 Total sales, 228,400. Money . , Marks , Sterling a 44 65 Close. !6i! 2 3.86 0 60V B914 68 93 23 87 37 41 66- 66 62 62 9 9 42 42 23 23 87 44 65 44, 661, Friday Close. 8 .0160 3.84 Chicago Potatoes. Chicago, Feb. 5. Potatoes Receipts, 34 cars; northern whites up 610c, at t.l5$1.20 cwt.: bulk. 31.201.30 cwt.. up 510c; Idaho Rueset, sacked, $2.002.20 cwt London Money. London, Feb. 6. Bar sliver 36 4 per ounce. " .- Money 6 per cent ' '" S IMsrount Rntos Short and three months'' bills, 6 per cent. Omaha Grain " Omaha, Feb. 5. . Grain receipts today ere mod erate to light with corn arrivals the bulk. Wheat prices for straight grades tone about 4, cents higher for the few offerings sold. Corn ranged 'A to 2c higher, generally 1 to Ijac up. Oats were a cent higher. Rye was up 2 cents and barley 1 cfent. Russell's News wired that Greece took 1,000,000 bushels wheat today. There was a good demand from exporters and millers at Win nipeg said a Chicago wire. Wire said that Omaha exporters raised bids on wheat half a cent today.. WHEAT. " ' , No, V hard, 1 oar, $1.66. -Nn. 3 hard. 3 cars, $1.62; 1 car, $1.61. .No. .4 hard, 2 cars, $1.47 (smutty.) .Vs. 6 bard, 3 oars, $1.47. No. 1 mixed, ,1 car $1.50 fdurum.) No. 4 mixed, 1 car $1.42 (durum). , CORN. No. 4 white. 1 car 6(lc. No. S yellow, 1 car 62c. , No. 4 yeliow, 9 cars, 49c. iNo. 5 yellow, 1 car, 48o. No. 3 mixed, 3 cars, olfec. live Stock Omaha, Fab. 5, Cattle Hogs Sheep 6,614 11.072 6,893 21.019 7,84)6 18.511 6,895 iti.SH f- S.3IX 11,730 ' 3.3H7 13.200 250 86,018 28,026 7,448 3,303 , a.-4s 1,210 100 '.938 Receipts were: Official Monday-... Official Tuesday ... Official Wednesday.. Vfficial Thursday.. Official Friday Estimate Saturda) , , Slx-dkvs this wit... Samaiday last wk.. .32,649 81,040 47,375 Same day 3 wk ago. 36,361; 74,667 50,663 Same, day 3 wk ago. 33,940 ss.isu ei.uzs Same day year agi.. 21,7s 55,317 30,739 Cattle Receipts of cattle were only two cars or 100 head, and the market was nominally steady with yesterday not enough being on "sale to test values. For the week receipts are nesrly 23,000. Demand has been lighter than usual all week on account of the ' poor market for dressed beef in the east .ind although the run of cattle has been a third smaller than last week's prices have again worked lower, declines amounting to around 50c on a kinds of cattle, both' killers and feeders. Top for the week on beef steers was $8.10 and bulk of the offerings sold from $6.507.50. with most of the cows and heifers at $4.60(fr!i.CO. Stockers and feed ers are moving largely at $6.001.25, all these prices arc the lowest In several years. f , - Ouotatlons on fattle: Good to choice beetvs, -3)7.7u 8. 35 ; fjlr to good beeves, New York Sugar. New Tork, Fb. 6. The local market for raw sugajr was firmer and while prices were nominally unchanged at-30 for Cuba, cost and freight, eiual to 4.64c for centkjfugal, there w,s no fresh busi- n,fl r,n.,l tn.l.'lV wlllla Ih.t.n war. hnv. Jtbrs at auotrd prices, with holders asking more. l.ate Friday there was another sale ot 30,000 bags of Cubas to operators at' 3o jM.st and freight, and It was- ru mored that some Cubas were sold today at a little above this figure, although de tails were larking. New York Dry Good. New Tork, Feb. 6. Cotton goods' con' tinued quiet, with print cloths and sheet ings showing a softening tendency. Tarns were quiet. Knit goods trading was be low normal, also progress being made In securing business on which mills may get started. Burlaps wnr quiet. Wool goods showed more steadiness. ; Sew York Cotton. New" Tork, Feb. 5. The cotton market was much steadier eatly. Juna started 1 point lower, but active options showed gains of 6 to 13 pottits at the outset, fol lttwed by further upturns There was cov ering for over the week-end, based partly on abandonment of the excess In foreign exchange. Soon prices were about 38 points above last night's close. The advance extended to 23 to 47 points. The lose was a few points off from the host, but steadied at a net advance ot 30 to 33 points. . J0, ,m,ied,i. c"' b,u- 17.00 7.t6'i common to fair beeves. $6.00 TV I Sa .r, ie - I-! good -eo -Woe yearlings, $7.60 No. 6 mixed, I cars, 4&c. , , g . ,. .rt v-ii,,,r sc.76st.6A; OATS. No. 8 white, 8 cars, S8c. No, 4 white, 1 car. 37 c. RYE. No. 2, 1 car, 31.35. No, 3, 1 car, 31.35. i BARLET. Sample, 1 car, 6c. OMAHA RECEIPTS AND (Cars.) IPMENTS. Receipts Wheat Oats '.'.W.'... Rye Barley Shipments Wheat tM.. Corn 7... Oats , Rye Barley . S . . Trday .. .r: .. 51 .. 13 :;. o5 .. Zl . .3 29 Week Ago 47 81 47 -5 .6 . :M .'-S. 6 ' 7 17 Tear Ako A iti 15 PRIMARY RECEIPTS AND SHIPMENTS (.j.iuouuia, "s Close Fri. CloHO , 81 81 . 33 33 - , 116 115 , 70 70?4 , 68 4 68', , 13 M , 76 fSs i , 8 8- 89 , 2 2 I 19 18 18 1!4 i 2114 19 r 84 83 ....... 67 i 44A 40'.s , 83 81 i 26 25 96 96 , 22 2144 , 27'- 26 118 116 ,, 7 7 Today Receipts - Wheat' iY 790 Corn 1,116 Oats , 437 Shipments Wheat 81(1 Corn 489 Oats , 454 EXPORT" CLEARANCES. Today Tear Ago 710 1,054 644 612 504 413 Tear Ago 150 49 Wheat 301 Corn 319 CHICAGO CAR LOT RECEIPTS. Week Tear , 'Today Ago Ag3 Wheat ....... ,-rr,.. 12 122 16 Corn 307 467 '216 Oats 75 ' 63 72 KANSAS CITY CAR LOT RECEIPTS. . Week Tear Today ..r- Ago Aaro Wheat .....180 25 121 Corn 33 '. , 66 37 Oats -,.... ......... 9 ' . 6 . . 8 ST. LOUIS CAR LOT ' RECEIPTS. ' ' Week Tear Today Ago Ago W-heat .'......138 415 46 Corn 58 124 s. 110 Oats :i 46 i 66 NORTHWESTERNxCAR LOT RECEIPTS OF WHEAT, v Week Today Ago Minneapolis 1T6 211 Duluth 140 79 Winnipeg 350 423 h Tear Ago 224 1 302 Minneapolis Grain.. Minneapolis, Minn., Feb. 6. Flout1 Un changed to 10c higher; In carload lots family patents quoted at $8.768.$0 per bbl. In 98-lb. cotton sacks. 1 Bran $22.0O24.O0. Wheat Receipts, 176 ears, compared with 244 cars a year ago; cash No. 1 northern, $1.57 SPl.61 ; March closed, $1.48; May, $1.44. Corn No. 3 yellow, 5152c. Oats No. 3 white, 3787c. , Barley 46 66c. Rye No. 2, 81-4 iffl.49. Flax No. 1, $1.751,77. ' - , - 1 - . Kansas City Grain. .Kansas City Mo., Feb. 6. Wheat MVrch, $1.49; May, $1.43. Corn May, 60c; July, 63c; Septem ber, 65c. ' . ' St. Iuls Grain. St. Louis, Mo., Feb. 5. Wheat March, $1.60; May, $1.504. ; ' . Corn May, 67c; July, C8'o, Oats May, 4$cj July, 4:c. '. -'i . Foreign Exchange. ' ' Following are today's rates .of exchange as compared with tho par valuation. Fur nished by. tha Peters National bank: . Par Valuation Today 30 Austria Belgium ...... Czecho-Slovakia Penmark England ...... France Germany Greece Italy .......... Jugo-Slavla .. Norway Poland ......... Sweden Switzerland , . . .195 4.86 .193 .238 .195 .195 .27 ,"7 ?95 a .0029 V0750 .0135 .1940 .3.87 ; 6 .715 ' .017 .0713 1375 .0077 J" .l860 .0029 .2220 .1625 I." Orhkha Hay Market. Omaha, Feb. 3. Receipts of both prairie hay and alfalfa have -been liberal for the last few days. While demand is fair to good on better grades, the lower grades are moving slow ly and prices are lower on account of poor demand. Oat and wheat straw easier and lower. Hay Upland prairie: No. 1, $10.00 11.00; No. 2, $9.010.00; No. 3, $7.00W 8.54. Midland- No. 1. $9.5010.50; No. 2 $8.09.00. Lowland: -No. 1, $8.008.00; No. 2, $7.00 8.00. 1 Alfalfa Choice, $23.0024.0( No. 1, $19.0O21.00; standard. I14.0018.00; No. 2, $11-5013.50; No.' 3, $10.04(011.00. Straw Oat, $8.60 8.00; wheat, $3,000 9.00. .i . . I m . New York General, New Tork, Feb. 6. Flour Barely steady; 'winter straights, $8.1538.60. W'hcat" Spot, steady; No. S liard, $1.80 c.l.f. track New York and No. 2 mixed durum, $1.73 c. i. f. to arrive1 Corn Spot, steady; No. 2 yellow, 82c and No. 2 mixed. 81 c c. t f, Kew Tork, 10-day shipments. Oats Spot,"steady ; No. 1 white, 63c. . Lard Weak; middlewest, $12.76012.80. Other articles unchanged. Kansas City Produce. . Kansas City, Mo Feb B. Eggs 3c lower; firsts, 39c; seconds, 36c. Butter Creamery. 6c lower, 45c; pack ing, lc lower, 16c. Poultry lo lower, 27c; roosters, springs and Turkeys unchanged. - ' IJhery Bond Prices, New Tork, ' Feb, 6. Liberty bonds closed: 3s, $91.86; first 4s, $86.60 hid; second 4s, $86.40 bid; first 4s, $87.30; second 4s, $86.48; third 4s, $89.94; fourth 4iis, $87.00: victory 3s, $97.20; Victory 4J4,- $97.24. - Bar Silver. i 1 New Tork, Feb. 6. Bar Silver Do mestic, 99c; foreign, 60c , Mexican Dollars 40 c. Unseed Oil. Duluth, Minn., Feb. 6. Linseed on track and arrive, $1.78. ' t . Bonds and Hotes Nrhe following quotations furnished by the Omaha Trust company: Am. T. & T. Co. 6s. 1923 ..i. 96 ' 7.8S Am. T. & T. Co. 6S, 1924 ..j. 95 T.60 AnacOItda 7s, 1929 94 8.00 Argentine Stirling 4s, $449 per 1200 bond. i.OiS 8.70 7.75 7.00 7.90 7.98 7.20 6.83 7.80 9.20 7.65 9.85 8.00 10.26 10.05 8.06 7.7S trlso 7-60 7.90 7.00 1 7.86 7.00 7.70 8.05 T .1 -. 1 Armour 7s, 1930 Belgian Gov't, is, 1925 . Belgian Gov't. 7s, 1945 Beth. Steel 7s, 1923 ... Beth. Steel 7s, 1923 British 6s, 1923 British. 6s. 1929 British 6s. 1937 C. C. C. ft St L. 6s,-1939 . C. B. ft Q. Jt. 4s, 1921 . Cudnfcy Pkg. 7s, 1923 .A.. B. F, Goodrich 7s, 1926 ... French Gov't. 8s, 1945 ... Japanese Gov't. 4s, 193S . Japanese Gov't. 4s, 1931 , Norway 8g, 19-iO Morris & Co. 7s, 1930 .... N. -T. "Central 7s. 1930 ... Pennsylvania R. R. 7s. 1930 f. -8. Rubber 7 He. 1930 . Swedish Gov't. s, 1939- . Swift ft Co. 'C, 1921 .... SwTtt ft. Co. 7s, 1926 West Electric 7s, 1926 Swiss Gov't. 8s, 19)40 Donnmrk 8s, 1946 ........ Westinghvuse Elec. 1. 1911 6 91 97 00 83 88 . 86 . 88 . 7 . . 98 . 0 . 99 . 31 . 6! . 3 . 98 .103 .105L? . 99 . 81 . 99 . 36 .100" ,10214. . 99 . ,. S4 8.00: fair to good yearlings. $6.7567.60 common to fair yearlings. $6.00(8 6.76; to choice Defers o.OO6.75; choice to I f rime OOWS. .1 : -onl 10 - cows, $5.005.50; fair to good cows, $4.60 5.00; common to falr'cows, $3.60.3l4.2o; good to choice feeders. $7.608.00; fair to good feeders, '36.767.60: common to fair feeders, 36.004F6.75; good to choice stotkers, 34267.76; lair to good stock ers, $6.267,25; common to fair stockers, $5.006.25; stock heifers, $4.005.50; stook rows, $3.64.6li; s, S.504j'l.; bulls, stags etc., $4.25 5.25. Hoss About ll'.'CO were received; t&dav, the heaviest Saturday run in a long 'while. Packers wanted good light hogs and bought most of the' bacon" and light butcher weights during early rounds at about! steady prices, but mixed packing end hAavi met. with a dull demand at small declines. Trade as a. whole -ruled steady to 1020c lower. - Bulk sold at a spread of $8.759.50, with best light mak ing hogs making a top of $9.80. Compared with a week ago light hogs are closing at generally steady prices, mixed packing grades show losses of 15.16c and heavy hogs are selling all of S075c under a week ago. . v. ; Sheep Only a few sheep and lambs were received todayt and prices were nominally steady. All classes of fat stock have been working lower this week and lambs show a loss of 6075o with sheep moving at declines of around a half dollar. Good lambs have dropped to $9.003 9.25, with heavy grades down to $8.00 and less. Pretty good ewes ara bringing- $4,009 4.25, with choice grades quoted up to $4.60. A few wethers sold at $5.00 and some yearlings $6.256.25. Feeder trade has been very quiet with an easier ten dency, .' Quotations on sheep: Best fat lambs, $9.0p9.25; medium to good lambs, $8.75 4fW0; plain and heavy lambs, 7.75S.60; yearlings, $6.257.75; aged wethers, $4.60 S5.2f; good .to choice ewes, $4.254.S0; fair to goodwes, $3.7604.26; heavy ewes. $3.504.00;cull and canner ewes, $1.50 3.00; feeding lambs, $8.008.75; feeding ewes, $3.7693.25. C 0 STOCK PRIVILEGES IOC dQ . PUTS AND CALLS S 1 1 U - . 80 DAYS ODD LOTS Best, safest way to trade. No margin. Calls possible, avnsk is limited. Profits unlimited. Ask f oh. free booklet. "SUCCESS IN THE STOCK MARKET" With small outlay hundreds . of dollars ar made. UNLISTED SECURITIES , KENNEDY & CO., Est. 1884 Member Consolidated Stock Exchange.N.Y. .74 BROADWAY, NEW YORK 1 PRCC but equal JTIVCtC to a costlt) lhvcsunem5mi.ee "IaTsstawaf is twics-a-monti msftsxiaa that will yoa posted a latest mw ot aiAh-ida Mcnri ties, k eontsins no "tips," sad aatk ia that will irrcjniaaashort cot t wealth, lt(ntaisMbbUisi(ma. tientohataywi taoessthssaost profit ableiavestment. "InTtnnt" will show yoa howto tBrast profitably M monthly basis. It is equal tnaeostir laTSStmnt terries, says erne radar, but we send it FREE. Writataaay. KRIEBEL & CO. Tnrcstmtmt Santas They Say X "It's Good Reading" "Stock Market Opportunities" Issued Weekly FREE Write for It! . ' Shoim&glHand fmmirs CoaMJxAfx.M 198 Broadway Newark CITIErSERVICE CO. , Do you realize tha magnitude of this company's operations, the asset value behind its share, tha hand some dividends it is paying ? Vu ess ihsr Is this eeaisasy'i ero Verity throufh eur Pay-ls-a-YssrPlas. Ws will alia earry tits abers took en a eesMcvatW sitrgla bull. ' We will accept active stock or foreign bond a collateral security an marginal purchases where cash is not available. Ask for details of this plan. H. &B. WOLF & CO. t STOCKS AND BONDS. 280 Madison Ave. Nw York Farm Mortgages - - - At - , Most Attractive Rates 39 year of loaninf experience ; without a lot to the investor. , ' Call or writ ' KLOKE INVESTMENT CO 'Omaha Natl Bk. Bldg. . PHONE DOUG. 1150. OMAHA I " ' A (Mi Ask for Our New February Investment List Describing " 16 attractive Farm Mortgage, " Munic ipal and Corporation Se Interest" Yields 6 ofiV , Our- February Invest- ?ient List contains of -erings that will prove exceedingly profitable it business condition become normal. Peters Trust Company , . and Peters National Bank raraam atvenieeath. Peter Trutt Bld(. j fSecuritiesBuilding 1 first Mortgage 2 y2 Years Coupon Bonds : Priced to Yield 7.32 Interest iTAX FREE Dated February 1, 1921 v, , Due August 1, 1923 Denominations, $10Ot $250; $500 and $1,000. J This Bond Is Unexcelled Triple Security Earning Three Times Interest Requirements (hAijA Buys a '$1,000 Bond ' jkM II that will earn $180 for T v , , you in - thirty months, ' paying $1 5 interest J quarterly, com mencing May hi, 1921 . It Will Be Hard to Duplicate This Investment After March 1st Start Now to Build Ufan Independent Income We Will Help You Call or Send for Circular Guarantee Securities Company ; Pioneer State Bank Faroam Street Entrance Securities Building Omaha, NeUT M 1 Read It-MaUed Free j( When to Buy When to Sell s TaiBortsnt si the selection M the stcurlty. Our weekly letUr does not- lu-slute to tell j-ou the ttocki to sell and when to sell them. ' Butts and Bears" t opinion, with huyinc snd selllni sutgesUons on these and many otheri: - U. S. Steel Sesersl Aipkilt . Crucible Steel slselslr Oil N Wllln Owns C. R I. 4 P. ' Before too mke in lnretnient for ipeculitlTe prrjflt or hlgh-elist Income, writs us tor f-t. PLUNKETT, ROBERTSON t CO, Membsn Consolldtted Stock Ex., K. T. . 22 Beaver Street New York ERVICE... m the Careful Handling of All Orders for Grain and Provisions for Future Delivery in All the Important Markets . " . . - v We Operate Offices, at r Prlvc 9 vale Wire Connections ' ' to All Offices Except Kansas City Omaha, Nebraska Lincoln, Nebraska , Hattiagt, Nebraska Chicago, Illinois Sioux CUy Iowa Holdreft, Nabratka ' Geneva, Nebraska ' De Moinet, Iowa Milwaukee, Witconsin Hamburg;, Iowa Kansas City, Mittouri WE SOLICIT YOUR Consignments of All Kinds of Grain to OMAHA, CHICAGO, MILWAUKEE, KANSAS CITY and SIOUX CITY Every Car Receives Careful Personal Attention The Updike Grain Company , THE RELIABLE CONSIGNMENT HOUSE n New York rrff. Nrnr Tork, b. . Ths market for caf fs future oirnrd unrhsnsod to t csnts higher on sIlKhtly steadier cables from Itrasll and scattertd covering In the late months. ' The advanc was chocked by a rnwl of near month liquidation, however, and prices aased off later, with Mast'h declin ing from f.tJo to .tSc and May from .IOo to 6.11c, wlrtl the feiy-fSl st rins ing at a net decline of i to 7 polnta Clos ing blda: March, .lc; May. MOo; July. T.I2o: Septemtisr, T.ic; October, I.Tto, and Itecembsr, 7.t7r. 1 j Spot Coffee uteti Rto fa, IN0(t! i Santos 4s. sCO'ic, i . ' hlrao 1'rodui-e. ' C'liH-Hgo, ("eh.' . Putter, easy; cream ery estras, too; stamlfcrds, 44a. Kggs Lower: receipts 10.IJT esses; firsts, 44 1-1CW44 S-4ci ordinary firsts, 4ot4tc: at mark cases Included, 4!041c, Poultry Alive, Co lower; fowls, Jlo; springs, JS t-lc. , -a , , How Confidence Can Be Restored By Two wetks ago I asked for' expressions from tlie read era of Omaha papers on the price situation. The replies cover a wide range of opinions. It would take too much space to discuss alt'of the points raised by correspondents. There are many aspects of the price situation which involve the entire economic system and which cannot be, remedied by anything, that we can do locally. Such topics . are being treated by economists in national publications. The problem' relating to the spread between production cost and final selling price is ably discussed in the January 15th issue of THE SATURDAY EVENING POST under the caption, "Eliminating the Middleman." An instruc tive editorial on the general price situation is contained in the January 29th issue of THE LITERARY DIGEST. I am especially concerned over the quotation of false valuations for purposes of comparison, as well as other de ceptive pricing methods. That is something which has tremendous bearing on pnblie confidence and .it is some thing which can be remedied. "Why bother with remote economic problems when one that concerns us so directly is close at hand and capable of solution! , As. I. have stated repeatedly, the resumption of trade depends upoirthe restoration of confidence. Tq prove that point conclusively was my object in asking expressions from the public. The replies proved my point. Following is a typical letter which covers the principle involved and cites concrete illustrations: . . . ' - "Dear Sir: Having been-in the merchandising business for .over twenty years. I am most vitally interested in your discussion regarding prices. I have been making diligent Inquiry to ascertain why trade ia dormant. Following up this plan, I have talked to perhaps a hundred people and heard their expressions.. "I am convinced that the present condition is solely due to lack of confidence, and that many merchandising methods extant today are doing more to destroy than to restore confidence. High prices have made keen shoppers of the customers. They examine and price an article at the different stores and get posted They ' are learning brands, trademarks, and values of standard, merchan- ' dise .and are thereby enabled to gauge price. "One woman told me of pricing a suit at a store at $89.50, and a few days later a one-third discount was announced. She decided ske would go and buy the suit, but found it then priced at $134.60. A mm told me of pricing a suit In one city at $30 and going intp one of the stores here advertising a half-price sale, and being shown the same suit from the same maker at $65 less one-half. Such instances as , the above only cause the intended buyer to keep his mdney in his pocket.' " "If our merchants will get prides down to today's level and keep them there, they will greatly aid an early revival of busi ness. The laboring man will feel that he is being given a reduc tion in living to correspond with his reduction in wages, and tha farmer will know that other goods are being reduced in propor tion to his products. Confidence will be restored and business will flourish." , r The above letter reflects what people are thinking and saying, f personally think that a 'good tfeal of the criticism of merchant is unjust. From what I hear In business circlet, many merchants have reached bed-reck as far as prices are concerned. It ia the equivocation of certain merchant which has- upset confidence and the whole public has to suffer from it. If my discussion of this subject has any influence, I expect to see advertising copy in the local supers aimed directly at the res toration of confidence a frank and sincere statement of the facta without subterfuge. - ' - People are simply waiting to be satisfied that prices are right not as compared with the summer of 1920, but on the basia of present production costs. Our needs and desires have not abated. Considering the greater covering capacity of the dollar, our pur chasing power has net greatly diminished. When we are con vinced that merchant are no longer attempting to impose upon " our ereduHty, we are ready to buy liberally. What a wonderful opportunity for constructive advertising! Dodge, at 18th Omaha. C. C. Shjmer, Pres. , Q. A. Rohrbough, SecTreas. An Investment that combines Jjigh income ivith opportunity for profit r I m-joreign excaange. Argentine Government 4 External Sterling Loan These Bonds are a direct general external obliga tion of the Argentine Government. I Redeemable by a cumulative finking fund oper-, ' i y ated by drawings t par or by .purchase in the open y market at price below par. Based upon the current price of these bonds and wjth Sterling Exchange at its present level ($3.88 per ') these bonds will return an annual yield of 7.20. With, the rise in Sterling Exchange the income fromthese bonds jvill increase. With Ster- lint? Exchange at $4.25 the annuaMncome will be 7.90.. With Sterling Exchange at par the annual ' income will be over 99H , 1 Bonds that are called and redeemed, with Ster ling Exchange at the current rate, -will return a - profit oT 80 ; with Sterling Exchange at $4.25, ' a profit of 97 ; with Sterling Exchange at par, a , grofit of 126. - 'C Price $43Q Per 200 Bond Denomination, 20, 100, 200, 500, 1,000 The circular describing thi issue contain interesting Inormatlom regarding- The Argentine Republic. A copy will be marled upon requeiU . Omaha Kansas City H. E. Harrii, Resident Manager Douglas 6816 701 Peters Trust Building February Investment Suggestions High grade Bond and Investment issues have made decided ad vances during the past month. Have you profited thereby! We recommend, early purchaie of standard y ' securities - to insure future high returns. WE OFFER AND RECOMMEND ...... ...... American Tel. & Tel. Anaconda Copper Armour & Co. . . . B. F. Goodrich Rubber Co........ Morris & Co.. . . National Leather Co ... , Chicago, Milwaukee St Paul.... START A BOND ACCOUNT WITH US OMAHA STOCK & BOND EXCHANGE Paul J. VoIImar, Mgr. Due. Yield. 6s " 1922 7.35 6s 1929 . - 7.60 7s ,1930 7.40 7s 1925 , 9.60 7s J930 7.60 8s 1925 8.S0 7s 1925 7.72 4s 1925 10.30 250 Peters Trust Bid. Omaha Neb. v V f)