tab.
- - f
1 v
THE BEE: OMAHA. SATURDAY. FEBRUARY 2l. 1921. '
15
Sankcr Predicts
No Steady Easing
Of Money Kates
Some Authorities See Im
provement in Retrenchment
Of Government Expendi
tures and Tax Revision.
v By HOLLAND.
.hi'mcs L. Alexander, who is prcsi
iK'iit of the Xrftional Dank of Com
merce, has ventured Ut. predict that
llirre is to he no jnTiiiTuient easing
of money rates. He does think that
money may he somewhat easier from
this time on until .March 15, but
alter that the rates will remain rel
atively IhrIi. When he ues ,the
term permanently he means, in all
probability, indefinitely. For it can-'
not he jis view that the permanent
rate for money will be substantially
similar to the high rate which has
prevailed with occasional exceptions
for a year or two.
Put if money it to remain liih,
due to peculiar conditions, neverthe
less those who are in a position to
judge present conditions and to
make forecast of the future are con
lident that fundamental factors are
now being so well demonstrated
that, they must cause a favorable
impression upon financial opinion.
There are still somr weak points
in our industrial and commercial sit
uation bift these gradually will be
eliminated.''
Much Progress Made.
One of the ablest authorities in
the financial district said this inurn
that much progress has been
made since the first of the year.
his: is in part due to -the certainty
Unit the American banking Mtua
lion can be regarded as sound from
every point of view. The reserve
ration of the federal reserve banks
jyis risen to nearly 50.
The embarrassment which r the
condition of the banks or North
Dakota is causing- is not spoken of
as being serious so far as, it relates
10 the banking- situation of the en-
...i- T.-. in "Mnrth T)a-
r kota the suspensions have ween made
bv small banks. So also some em
barrassment has been observed in
certain parts of the south. These
southern embarrassments can be
traced tcf loans. It is a temporary
embarrassment apparently in some
parts of the south, and will soon
be ended.
Revision of Tax Laws.
Another factor to which reference
is frequently made when the reasons
are given for believing that consid
erable progress towards restoration
i to normal conditions has been made
is the certainty that there are to be
retrenchments in government ex
penditures and also a revision of
our tax laws. Apparently sentiment
throughout the country is in favor
of repealing the law -which has es
tablished the excess profit tax. 1-or
if that tax be repealed there is no
doubt that it would be followed by
a substantial reduction in living
costs. It certainly would put a stop
to pro6teenng of the kind which the
excess pioiit tax has stimulated and
i aft probably would increase the net
1 earnings of corporations engaged'in
S industries.
K College President in Business.
One college president went by
way of the state house at Trenton
to the presidency of the United
States eight years ago and another
college president, is, it is surmised,
on his way, if not to the presidency
of an important railroad company,
nevertheless to close business and
personalrelations as a director with
that railroad company.
President Hadley ot tale univer
sity does not give up his chair as
president to begin the life of a sage,
n as all of his predecessors have done,
i t-i., it ,-. tslrp artive nart. both prac-
ticallv and as s profound railroad
I ities. Iii doing this he returns xo
bis first loye, for he saw 20 years
ago that tempting opportunity for
a fine career opened through. , the
changes ' that w ere characterizing
meriean railroad methods.
Became Yale President.
However, Ynle tempted hinv so
that he became its president and he
found immediately after his election
that his predecessor .Mad bequeathed
to hinvthe work of securing the bi
centennial fund of $1,000,000. He did
secure this fund, although there were
moment wlirn he was apprehensive
n that he would fail.. His success m
this earlv financing was one of the
reasons wiy railway managers turn-
' cd to him, seeking, his association
iu the directorate, i"
' V :.l . i T ...,11 rt. T-Ti ,-, i frl itnu
f i arsity must nave waicncu wun m-
t (rest 1 rcsiueni namey : m
eer as president of 'ale and direc
tor in the New Haven Kailroad
cbinpany. For at or about the time
President Hadley was asked to ac
cept election as a director in the
New Haven Kailroad company.
President Lowell of Harvard also
was urged to accept election as one
of the directors of the Boston and
Maine Railroad company, which
( the New Haven at that time controlled."-
The Harvard president did
not see his way clear to accept
this offer.
THE GUMP
LISTEN, MY CHILDREN, AND YOU SHALL HEAR
Drawn for The Bee by Sidney Smith.
Copyright, 1921, Chicago Tribune Comptny
mP HtVtC STRMCbHTcW THAN WWEH
HE rS BO At AlMSF AT
UHCLE BlM- we O"0T THE dX BIRD AT
Trie FVfcST Snot AHt THE: 0Jtt. THtV
ARC THE 8iG60L.THe TV2GEY-
t 1 Al AC 1 1 k-T WAV lit- aiTr-1 laf v t , - -
WW&VOH YO0 HAYt UARrlEP ANp MAPE IT WlUt - 6oNE' AHt THAT AGt Vb) CANT PO A
FOR A MANY YEAR'S IT WAS MUTE IvS lrLL- 1 TMbE VLL 9E 'NG BUTTtRfUtS Jl
yritunt cvnPtt.KJ VAT .7A ARROWS OUT OF WOOP AHC PRANVIN6 JtM
I I
Market,-Financial and Industrial News of the Day " ,
i i i i 1 .
1 . . i
Live Stock
Omaha. Feb. 23. '
cattle Hogs Sheep
l:B,-!ti lis were
Ofricia! .Monday ... !'.0"7 13,599 10.4156
OHklal ITuMday ... i.5 I5.2U9 9.7S
Official J Wednesday. 4.905 K.ST 1I.1S9
OffietalTliuraday .. 4.S43 lti.803 li.219
Ksthnrife Friday ... S.6S5 13,000 7,500
Kifve 0. this ivceli "7.045 73,248 01.163
5tam .-days last week 22.828 '1.27 44,034
Sam 2 veoks- ago.. 23,494 72,624 47,007
Ha,ri6 3 days ago.. 22.S3S 7.1.819 2,7, 77G
baria days year ago 26.255 02,292 43,548
('attic A very fair run of cattle showed
u for a Friday, somo 2,600 bead being
ieorU'd lu. iThcre were a good many out
MtJe orders bbro this morning for all class
cat of fat cattle and demand on the wljole
vA8 fairly good, tbu bulk ot the offerlJiRS
cliearlntE in cood season at good, steady
prices, llcod, to choice steers sold up to
H.8oli9.u5, with ko:ic prime light heifers
at 7.76. Stockcrs and feeders were in
light supply and Bold fully steady at the
week's advance of 26&;oe. ' ;
Quotations on Cattle Good to thoice
beves. $8.76(6.9.30; fair to good beeves.
t;'.508.7S; common to fair beeves, Jii.7a
(iv7.ti0; good to choice yearlings, $8.25ffl
8 70; fair to good yearlings,, 7.2S!5!8.25;
eciiuuiou to fair yearlings, J6.o07.2o:
(loicn to prime Heifers 7.0lKi7.7!; good
to choice heifer?. !5.,754f 7.00 : choice to
nJ-ime cow. JS.ZS'U'i.lB: good to cbnieo
,:ows, J3.6O0C.25; fair to good cows. 85.00
,"..o0: common to fair cows. S2.004.50:
fcood to choice feeders. IS.O08.6O; fair
to good feeders. J7.234?8O0; common lo
fir feeders. J6.50jJ7.25; good to choice
W,icVerp. 17 7r,D8 "5: fair to good stoek-
rs $7.O0J.75: ooinmon to fair utockers,
.b0O".0: stock heifers. $4.506.50r
stock cows. $4.00iio.D0; stock calves, $5.60
AI7.26; veal calves, JS.0010.00; bulls,
stags, etc., $3.75t).00.
BEEP STEKItS.-
Av. Pr. Xo. Av. rr.
..901 J 7 &' 22 93S J 7
Omaha Grain
No.
8..
12..
,31..
.21..
it::
08..
41..
it..
21..
01
..lUff
...930
..1115
..133d
..1430
..UH9
,.1307
85
8 30
8 SO
8 CD
j ett
9 15
9
. .1 036
.1121
r .12B
17 nil
16..
.1129
.1150
STliERS AND HEIFERS.
. . .sua
,..26 '
..1064
. .1007
..1194
..1190
..1219
.1227
.1212
:o
8 :o
cows.
2! . .
!0..
.0..
11..
18..
11 1163
12.
1 I .
18.
11..
G..
34..
. .690
..921
...719
...1002
a 40
6 00
i 2
G 4 0
6 15
YEAK1.1XOS.
7 Oil If...
7 7:' 11..
HEIFER3.
7 23 9..
K 00 11 . .
6 lib 20. .
- 27
792
991
. .1079
...1118
. ..11S3
. . ,12fi
...1249
...1170
..9S6
..741
. .910
. .948
.821
16.,
STOClvEn.S AXD FEEDERS.
....47S K f.O 13 823
00
8 23
8 60
8 65
9 10
':
CO
5 10
3 35
5 00
r. so
6 10
6 ::9
u ;o
7 30
9 00
7 35
6 4')
7 00
7 75
837 7 65
V 1 14i0
. 6 1340
,.13
..1360
4 40
4 75
R. .
150
,.370 6 75
7 "17
DULLS.
4 33 15
4 OH 2
CALVES
5 0 - 5
10 00
Hogs About 13,f'00 hogs were ieceiel
today and trad'ng was rather quiet at
prices yttle different from those paid
yesterday. ,.-A strcpger tendency was
shown, , however. at;d the market as a
whole ruled steady lo,nbout a dima high
er. Shipping de'nrncl lacked volume anil
local packers boutthr most of tbo recetnt.i.
,i Best bacon hogs tocped at J1.B5 with bulk
HOGS.
No. Av. Sh. Pr. -No. Sh, Av
S3. .209 .... t K 20 59. .348
1ub's Trade Kevlew.
New Tork. Feb. 25. Dun'a tomorrow
will say tomorrow: "
"Continuance of business adjustment Is
Indicated by development In Indifferent
inarketa and general and progressive im
i'provements in. conditions Is yet to be wit
nessed. After months of restricted de
mand, revival la atill delayed In various'
basic Industries, aa in steel ana iron anu
auch recovery as has occurred elsewhere la
lacking on uniformity. As a whole, how
ever, the situation la more encouraging
than when theyeaf opened, and the
gradual relaxation of the monetary ten
sion that has followed the liquidation in
securities and commodities la a favorable
augury. i
"While the persistent disinclination to
operate freely for the future tends to re
tard progress, moderate slaed orders are
being placed more frequently in some
quarters, aa atocka of goods undergo re
duction, and the approach of Easter la
atlmulatlng trade In retail channels."
Weekly bank clearance. $5,043,789,185.
Omaha Hay Market.
Receipts of both alfalfa and prairie hay
have been liberal. While the demand Is
quiet causing prices cn alfalfa to decline,
quiet causing prices on alTfttfa to decline,
the better grades of alfalfa and prairie
hard to move. Oat and wheat straw
easier and lower:
Hay No. 1 upland prairie, at $10.00 to
J11.00; Xo. 2 upland prairie, at J9.00 to
110 AO n t ,,lBn ...u, f IT An An
.J'IlS.50; No. 1 midland prairie! at il.iO to
J $10.50; No. 2 midland prairie, at $8.00 to
.v.. . .w. luniiiid prairie, a.i s.vv to
$.00; No. 2 Jowland prairie, at J7.00 to
$8.00; rhnlca alfalfa, at $21.00 to $23.00:
No. 1 alfalfa, at $18.00 to 1:0, 00; stendard
alfalfa, at"$U.OO to $17.00; No. ,2 alfalfa,
at $10 $0 to $14.60; No. $ alfalfa, at Jt.OO
to $10.00.'
Straw Oat. at JS.00 to $8.W; wheat,
at $7.60 to $8.00.
Chicago Potato?.
Chicago Feb. 2i. Potatoes firm: re
eeipts. 4 cars; northern white, JLilli
L ist; vtuik, fl.30Jf l.$5. s-
04. .312
46. .334
08. .250
40. .273
52. .545
67. .247
71.. 225
43. .190
69.. 193
72. .186
140
70
120 9
S 00
8 63
8 75
8 3'1
9 CO
9 10
20
9 30
9
9 55
60. .320
00. .296
72. .240
77. .237
84. .209
78. .248
86. .218
85. .200
42. .184
Pr.
. $ 8 40
8 60
8 70
? 85
8 95
9 05
15
9 25
9 35
9 Ofl
fcheej Arrivals of sheep and lambs were
estimated at 7.500 head. Packing demand
had more urgency than' at any time in
the past month or so. and prices ruled
sharply higher. Advances of 6 11 -ft' lie were
shown on both fat lambs and ewes. Best
fat lambs advanced $10.00 and good heavy
ewes sold up to $6.00. Wethers ore
quoted around $6.23s6.f0 or better ami
handy yearlings would likely bring $7.30
fi)7.73. Thore was very little doing In the
feeder division of tAe trade.
Quotations on sWpp and lambs: Best
fat lambs, $9.7.-.fT10.nn; medium to good
lambs. $9.0O9.5O: plain and heavv lambs.
J8.00iW8.73: yearlings, $7.0007.73; aged
wethers. $5.7ofs;t.50; good to choice e"s,
$i.60e6.23; fair to good evef. $.". 00 '11 O.r.n :
cull and canner .nes. 2. 0053. 0: ff.-diii-r
lambs,$i.Ju8.2; feeding owes
3.00.
FA? LAM Its.
Pr. No.
S S3 18 fed
9 2 158 fed
9 10 230 fell
10 23
$2.1
No.
163 fed
120 fed
244 fed
247 fed
Av.
107
84
82
Av
SO
100
102
fr
x :.l
8 .5
Chicago I.lic htoek.
Chicago, in., Feb. 25, Cattle Hrceipts,
5,000 head; beef steers, sl.aclv; spot,
lower; top, $10.40: bulk. $.5U tt ln.OO; all
other classes, generally steady; hulk buirh
er cows and heifers, $0.50i& 7.00; canners
and cutters, largely $2.50ci 3.73 ; bulk bo
logna and beef bulls. $5.00 (f? 6.00; veal
calves, mostly $11. 50fci 12.00: few at $13.00
and higher; stockers and feeders. largely
$6.007.76; stock cowa and heifers, most
ly $4.00(rf 4.50.
Hogs Receipts. 29,000 head , market, 10
to 26o higher tban yesterday's averag":
closing strong; top. $10.55 for 150 to 170
pound hogs; bulk, 200 pouads down, $10. 15
$ lO.hf); bulk 220 pounds up, $9.40ig 10.00:
pigs, about steady: bulk desirables, 90 to
120. pound pigs. $9.60(&!10.AO.
Sheep and Lambs Receipts. 8.000 head:
light fat lambs, 25c higher; fat sheep
yearlings and heavy lambs, 00c higher:
lamb too, $11.00: choice 90-pound lambs,
$10.75; bulk fat lambs. $10.60911.00; 108
pound wooled yearlings, $(!.50; 104-pound
shorn yearlings, $7.75'! 125-pound ewea,
$6.65; no choice handy weight ewes here.
Kansas City Live Mock.
Kansas City, Mo., Feb. 26. Cattle Re
ceipts. l.'OO head: beer steers, steady 10
strong; top, $9.25; ether aalea. $7.S0-;i)
9.10; she stock, ste.idy; -best Ip.ifers. $8.25;
ralveE strong to S1.00 higher, mostly 0"a
higher; top vea'.ers, $12.00; all other
classes steady.
Hgs Recelpls. 2.200 head: market
strong to 16c hlyher. mostly lOtsl.ln
higher: bulk light to shippers, $9 SO; buik
of sales, $9.009.CO; pics, steady.
Sheep -Receipts, 2.500 head: killing
classes, 2o'a.0o higher: wetn-:rs, is. 50;
handyweight yearlings $.6fl; 84-lb. lambs,
$10.75; feeding lambs. $8.10.
FebruaryS, 192 i.
Fair receipts of corn were.. on hand
fbefay, wheat moderate and oats light.
Wheat prices were or! about 2 to 4
cents, taken generally. Corn ranged
unchanged to a cent lower, generally
unchanged to cent oft. Oats were
unchanged. Rye was nominally 1 to
2 cents lower and barley was 2 to 3
cents off. s
Kusscll's - News bureau reported
Sweden taking some Manitoba
wheat today, the first in a long
time, and there was talk of ftaly
buying gulf wheat again today.
Greece was reported as haviu tak
en 70,1)00 barrels of flour yesterday
and Europe 20,000 barrels. India
reports rains badly needed in sonic
sections. Practically all sections of
the winter wheat belt4 report ample
moisture and in many sections of
the southwest it is siifficnt to insure
rapid progress of Hie crop, says the
Modem Miller. Germany and Bel
gium were reported buying wheat in
Argentine yesterday, the latter at 12
cejrts under the gulf price.
WHEAT.
Xo. J hard: 1 car. $1.61; S cars. $1.60;
3 cars, $1.59. -
Xo. 2 hard: 1 car. $1.59: S cars. $l.oS;
3 cars, $1.57; 1 ear, $1.66; 1 tar (smutty),
"no. 3 hard: 1 car, $1.56; 7 cars, $1.55; 2
cars, $1.04.
Xo. 4 Bard:
car. $1.50:
Financial
1 car, $1.52; 3 cars, $1.51; 1
car (smutty), i.44.
Xo. 5 hard: 2 cars. $1.55: 1 car, $1.47.
durum: 2-6 car, $1.4.
7 cars, 62 He;
Xo. 1 spring: 1 car 4dark northern
special billing), $1.80.
Xo. 2 spring: 1 car (dark northern, spe
cial billing), $1.74.
Sample spring: 1 car, $1.23.
Xo. 4 mixed: 1 car, $1.4S; 6-S car
(durum), $1.43.
Xo. 5 mixed: 1-5 car, $1.43.
Sample mixed: 1 car. $1.36.
CORN.
No. 3 while: 2 cars (dry), 65c; 3 cars,
54 c.
Xo. 4 white: 1 car, 63c
1 Ntr, 02u.
Xo. 6 white: 2 cars, 61c; 1 ar, BOfcc
Xo. 3 yellow: 1 car, 55c; 1 car, 54Hc.
Xo. 4 yeilow: 3 cars. 63c; 7 cars, 624c;
1 car (shippers' weights), 62,c; 2 cars,
02c.
Xo. 5 yellow: 2 cars, 51e. ,
No. 3 mixed: 1 car, 56e.
Xo. 4 mixed: IVs oars,' 52c; 1 car,
(near yellow, 18 per cent moisture), 52c:
1 car. 6Hsc
Sample mixed: 1 car. 45c.
OATS.
Xo. 2 white: 1 car. 41 &c.
Xo. 3 white: 2V'cars. 40'jC. (
Xo. 4 white: 1 car, 4A11c. ,
No. 4 mixed: 1 car, 40c.
B AK LET.
Rejected: 1 car. OVe.
CHICAGO CAR LOT RECEIPTS
Today. Wk. Ago. Vr. Ago.
Wheat 35 8 18
Corn 314 . 177 110
Oals US 38 72
KANSAS CITT CAR LOT RECEIPTS
Today. 'k. Ago. Tr. Ago.
Wheat 189 202 130
Corn 63 38 ' 45
Oats 3 12 26
ST. LOIS CAR LOT -RECEIPTS.
Today. Wk. Ago. Tr. Ago.
Wheat , 88 70 22
Com 145 4 38
Oats 27 47 43
NORTHWESTERN CAR LOT RECEIPTS
OF WHEAT.
Today. Wk. Ago, Tr. Ago.
Minneapolis
Duluth
Winnipeg .
OMAHA RECEIPTS
97
105
296
AND
(Cars.)
4 208
95 7
81 163
SHIPMENTS
Week
Tear
Ago
8
9
24
69
21
0
7
Tteceipts Today
Wheat 36
Corn 124
Oata 10
Rye o
Barley 0
Shipment
Wheat 35
Corn ........, 77
Oats 12
Rye 0
Barley 1
FRIMART RECEIPTS AXD SHIPMENTS
(Bushels.)
Tteceipts Today Tear Ago
Wheat ' 747,000 676,000
lorn 1,667,000 744,000
Oals ,. 499,000 723 000
Shipments
Wheat . .". fri. OOOjOOO 608,000
Com 900?i00O 618.000
Oata 602,000 ti62,00j
CHICAGO CLOSINfi PRICES.
By I'pdike drain Co., Doug. 2627. Feb.
Art.
Wh't
Mar.
3d ay
July
Corn
May
July
Oats
Msy
July
Pork
Mav
July
Ribs
May
July
I Ojjen. High. Low. CIpse. Tea'dy
I 1.6514 174 1.64 1.67 L4!7i
1.56- 1.6S 1.54 1.58 C67
1.41 1.424 1.39U 1.414 1.43
1.24 1.24 1.21 1.23 4 1.2 1'i
".691i .70 ,,68i .70 : .69
'1 .72U .70 .72. .71
.444 .454 .44 .45 ,44
!4 ,46',i .16 ,46H .45r4
21.00 2LJ0 21.00 21.20 20.80
12.05 12.1! 12.02 12.12 11 02
j 12.37 12.47 12.35 12.47 12.27
11.30 11.40 11.27 11.37 11.17
11.70 11.76 111.70 11,75 11.07
liberty Ilond Prtoa.
Xew Tork. Feb. 25. Prices of Liberty
bonds at noon were: S'4e. 91.12; first 4s.
.nwiu ,0. nn.ji n (l rtrst 4 V. a
86.88: second 44s. 86.84: third 44s. 08.92;
SrVU;,,1 V,ctory K
Liberty bonds closed: Ss. 91 02; first
4s, 80.86; second 4s, 86.10 bid; first 4 He
86.92: aecond 44, 6.62; third 4'4a, $9.02;
fourth 4',s, 86.70; Victory S?4s, $7.42:
Victory 44s, 97.42., 1
Sioux rity LiTe Stock.
Sioux City, la.. Keb. 25. Cattle Re
ceipts. 1.800 head: market strong; fed
steers and yearlings $6.00.76; fat cows
and heifers. $4.50(tf8. 00: ' canners, $1.00'i
4.25: veals. $S.f0-'9.00; feeders, $6.00'r
8.00; calves. $4.50'S7.00; feeding cows and
heifers, $4.2505.75: stockers, $5.007.25.
Hogs Receipts, 9.000 head; market
opened 10(fiI3c hisher; closed steadv;
light. $9.004J$.55; mixed. $8,804? s To;
heavy $8.008.80; bulk of sales, $8.70Sj
Sheep Receipts, 700 head; market, 25e
higher.
f St. Joseph Live Stork.
St. Joseph, Feb. 25. Cattle Receipts.
1.100 head; market generally steady;
steers. 86.0OS0.70: cows and heifers, $3.00
4J0.25: calves, $.50ttl0.60.
Hogs Receipts. 8.000 head. Including
9.50C head through: msrkpt steady
to 10 cents higher: tot). $9.65: bulk of
tales. $8,753-9.55.
sneep Receipts. 1.500 head: market
steady to strong: lambs. $s60Q10.50:
ewes, $3.50 9 6. 50.
Unseed 4)11.
Duluth. F-b. 23. Linseed On track and
arrive, $1:8$ Vs.
FARM MORTGAGES
$6,000.00 7 Semi.Aiinu.lIy
SECURITY A highly improved farm
of 240 acrea in a country that ia de
veloping by leapa and bounds. 160
acres in crop last year; entire acreage
is tillable. Improvements worth at
least $6,000.00, all in excellent condi
tion. Borrower ia a young man who
ia bound to succeed. A very con
servative valuation of $24,000.00
make our loan one-fourth ol the
security.
CAN YOU BEAT ITT
Kloke Investment Company
Phone Doug. 1180. Omaha
Swift & Company
Vaioa Stock Tarda, Coicagt
' ' Dividend No. 141 '
Dividend of TWO DOLLARS ftt.00) per thereon
the capital stock of Swift Company, will be
paid on April 1, 1921, to stockholders of record,
March 10, 1921, aa shown oa.tho book of too
Compaoy. . -
C A. PEACOCK, Secretary j
Sbetur Bark Sinus.
By ALEXANDER DANA NOYES.
Chicago Tribune-Omaha Bee Leased Wire.
'ew York, Feb. 25. Today's stock
market was mainly interesting for the
evidence it gave to the highly spec
ulative character ot the week's mar
ket. Without anything in the news
to influence the course of priecs,
the greater number of stocks which
had been under pressure during the
four or fiye preceding days recov
ered more or less rapidly. The force
at work was manifestly that Wall
street describes as "week-end cover
ing by the shorts." Today's gains
were extremely irregular and there
was a considerable number of fur
ther net declines, but the advances
ran to r-point or more in some stocks
and in general the market showed
more stability. Everything iji the
day's movement had the color of pro
fessional speculation.
Money rates did not clrSuge in
Wall street or at London. In the
foreign exchange market, especially
sterling, an abrupt recovery occurred
jvhieh had much the same appear
ance of repurchases by recent spec
ulators for the decline as was pre
sented by the stock market. Another
decine of 5-8 penny per ounce in sil
ver bullion brught the price 3 3-8
pence bc!w that of only eight day
ago.
Foreign Trade Drops.
Today's statement of the country's for
eign trade in January reflected, on the
one hand, the influence of the lower
prices; on the other, the relatively greater
effect of trade reaction on imports than
on exports. Imports and exports alike.
were much smaller in value tnan m
December ,or in- January of 1320. But
whereas our outward trade last month,
notwithstanding a $64,000,000 decrease,
from the month preceding, was larger
than in any month last year from June
to September Inclusive, the Inbound trade
was actually the smallest since February,
1918. As compared with January of
1920, it decreased no less than $203,000,
000, or something like 05 per cent.
But the necessary result of.thyi dis
proportionately large contraction of Im
ports, both in quantity and in total value,
was another very largo surplus of exports
for the month. That surplus was $446,
000,000. the third largest ever recorded.
The highest monthly "export excess" ever
achieved before the war was $139,000,000,
m October, 1913, and the largest on rec
ord before the panic of 11)07 was $97.
000.000. This does not promise early
solution of the problem of Europe's trade
indebtedness.
No Mystery About Decrease.
There is no irrcat mystery about th
decrease of imports. Quito aside from
the fall in average price of imported
articles, it reflects the partial cessation
of our orders for foreign merchandise in
the overstocked and reactionary condition
of the homo market. It is" curiously
distributed umong the different articles
of import. In December for instance, for
whicli. we have the full returns, there
was m decrease from the previous year
of $91,000,000 in imports of silk, rubber,
bides and coffee: but the totaL-shrinkage.
of $114,000,000 affected almost every group
of products. In the same month, how
ever, our exports of breadstuff Increased
$40,000,000 over 1919, chiefly in European
trade, while steel and Iron products in
creased $72,000,000 and oil $29,000,000.
tho increase being almost entirely in trade
with South America and Canada. It was
those large gains which offset the $87.
000, ,000 decrease In cotton export. There
has not been e'fually large offsets in the
January trade, i
No indication, 4f any change in business
conditions appears in the week-end -reports
of the mercantile agencies. The
most that can be said is summed up In
tho statement that wholesale trade has
been a trifle less active than in recent
weeks, retail buying maintained at the
slight improvement over January, em
ployment not increased, and somewhat re
duced In the textile industry and collec
tions a little belter. This means that
trade is merely marking time, with no
visible Incentive to recovery from ita
long inertia.
New York Quotations i Chicago Grain
Range of juices ot the leading stocks,
furnished by Loh'au & Bryan, l'etcrs Trust
building;
RAILS.
High. Low. Close. Thurs.
Close.
A.. T. S. V S2 SI ', 81 i 82
Halt. iiUhlu 34, S:i S4H 34
Can. I'acific llti'j I16'i 116"8 116
X. Y. A II. P. 7li 71', 71'., 71 'i
t'he-j. & Ohio .... fcjt, H 69 '
Krio 11. It 13 k 13 13 13'
IH. Nor., pfd 76:ifc 7fi',i 76' 7t-
Chi. Ot. Western.. 8't 8 8 S'i
Mo.. Kan. Al: Tex.. 2'a 2-g 2'i 2U
K. C. Southern... 20JS 20 20s, 20
M. Pacific 19!i 18i 18t 18',
N. Y., N. U. & U. 20 !?, 20 19 74
Xor. Pacific . $4 S3 '. 83i 83'.t
Chi. & N. W 67" (i7'i ti74 ..
Penn. Ry 40 39 'j, 40 40
Reading Co 7U'a 75vi 70 75",
C. It. I. & P 27'.j 27 27 27
South. Par. Co... 78 7S . 78' lai
Southern Ry 21 H 21 'i 21i 21
C, M. St. P 27ii 27 Va 27,2 27'i
Union Pacific 121 120 120!, 120
STEELS.
Am. Car & Fdry . . 124 'i 123'i 124', I2J74
Allis-Chalm. Mfg.. 35"
Am. Loco. Co.... 8 3"t
Ltd. Al. Stl. Corp. 30
Hald. Loc, WUs. .. 9s
lieth. Stl, Corp. . . 57i
Col. F. & Iron Co
Cruc. Steel Co.... :;(,
Am. Steel Fdry... 29 74
I.ackwna. Stl. Co. 55 13
Mldvalc Stl. Ord. 30 7.
Press. Stl. Car Co.
Hp. Irn. ,t Tstl. Co. 67
Ry. Steel Spring. 86',
C. S. Steel 8-3 U
corPEiia
Ana. M'op. "Mill. ... 38 'i 38
Am. Smlt. .t Rfir. 414 41 'i
Butte & Sup. .Mln. IJ'i 12H
Chile Cop. Co 14-i
Cbino Cop. Co. . .
Lisp. Cons. Cop.,
Kennecott Cop. .
Miami Cop. Co...
Xev. , Cons. Cop.. .
Ray Cons. Cop.. .
L'tah Cop. Co....
INDUSTRIALS.
Beet Sub. ... 49 18
0 'i
S3
29l-i
88'
66 U
o"'i
29-
54 4
30,?,
66 'i
86',
82 '4
I 11 I.
2 Hi -2Hi
34'i 34i
18 Vi 17
8 3
29
56
92 '4
29
55 '
30 '4
67"
86 '4
83
'4
8 3 Si
S 0,
88 '
67
28U
91 Ti
30
65
31
91
0i
86
83
;s'i
414
10
13'
60
10 '4
13
494
2Si,4
4l?i
1SH 12Vs
1 Hi 1 1 '.4
21
34U
17'4
10'i
11'
13 V,
50'
Am.
At., O. & W. 1.13. S. 47 '4
A.m. .Int. Corp 46 's
Am. fnra, Tob. ... 86 14
Am. Cot. Oil Co.. . 22
Am. Tel. & Tel.
Am. Zinc. L. & S. 9
Brnok. Rap. Trans. 1
4 4"i
41S
84
21
21 '
34'
18
10'4
13',
49 j
49 .
46 'i
45,
85H
21
48'
44V4
8l4
22 '
3'i
?9
70
39
24',
62 J4
41'
70s
6H4
14 H
14
37C'.
Ueth. Slotors
An. Can. Co
Chand. Mot. Car..
Cent!. Leatli Co..
Cuba jCane Sujf...
ICal. Tack Corp...
r.ai. j'etr. t. orp. . .
Corn Prod. Rf. ..
N'ar. Knani. & S.. .
Fisk P.br. Co
Gen. Klec. Co. . . .
Oast. AVma & TV.
Cen. llotors
Goodrich Co
Am. Hide St Lthr..
Hafikl. & Brk. Car. E7H
U. S. Inrl. Alcohol 70 '.
Intern .Nickel ... 15H
Intern. I'apcr Co.. 53s
AJax Rbr. Co 27'i
Kelly-Spr. Tire. ... 39"!
Keys. Tiro 1:ui. 15Ja
Int. Mrrc. Mar 14
Maxwell Motor
Mex. Petro. .....1577,,
Middle Sts. Oil. . . 13Vj
Pure Oil Co.; 34
Willys-Overlatid 7 4
Pler" Oil Corp .. lOVj
PniTAm. Pt. Tr. 75
Plerce-Arrow Mtr. . 267.4
Royal Dutch Co. fO's
lr. S. Rbr. Co 67 7,
Am. Sug. Rfg 93
Sinclair Oil & litg. 23
Sears-Roebuck Co. 79 ;,
Stroma. Carb. Co.. 37
Studeh. Corp f.9
Tob. Prod. Crt 53 3
Trans-Cont. Oil... S'i
Texas Co i
U. S. Food Pr 2 3 'i,
V. S. Sin., R. & M. 32 '4
White Motor Co.. 38 ij
West. El. & Mfg. 46
Am. Wool. Co f 37
i otai
100 ?4 100 u 100 , 100 Vi
S 9,9
12, 12 '13
29 74
8i
38 'i
2 3 :
60 7,
40'i
68'
61 V4
1 4
29 3,
69i
39
24 H
61 j
41
70 H
61 H
14'i
29
69 -
38
23V
63V
40
C9
14
13s 129 !i 130 129'4
2';. 2 2'.i 2 V
13i. 14 137,
3 74 Sot
9 9 ....
57 "4
119'.,
15 U
, 50
f'js,
14i
14
70
16s4
53 1-j
274
M
16V,
1 1
70
15 '4
6I'
25 '4
39',
157
155 'i, 15
1 3 ' 1
33', 3
a1,
; 3. -;,
S 134
.Money .
Marks .
Sterling
'1
10',
73 '
2S"s
59
60 1.4
91,
23
70fl
3014
67 H
52 74
8 '4
23V4
32
384
46
ales 532,700
Close
. .6
. 0 1 2 i
,3.87'
34
7V4
10 '4
75
26 H
0'a
7i
93
234
79',
31
6874
53',
ST,
23
32
38,
46
63
60'
66'
58 '4
6311;
8T4
4IH
23 M,
32 74
38 14
45 i
62 'A
Thurs. Close
.7
.0163'4
3.86i
By CHARLES D. MICHAELS.
Chicago Trlbune-Umaha Bee Leased Wire.
Chicago, Feb. 25. With a reversal
in the character of most of the news
and sentiment among a good per
centage of the grain trades, especial
ly in wheat, action of prices today
was different from early expecta
tions. For ' an hour the marlcets
showed little strength, but after
10:30 values hardened and started a
general covering and linyiug move
ment. Prices advancccr as fast as
they had previously declined and the
close was at the best prices. Net
gains were small but encouraged
holders and those favorable to the
constructive side who look fofxa
big crop scare in wheat. At the
finish, wheat was up-4 cents, corn
8J-'C; oats, c, and rye un
changed to lc lower. Wheat re
ceipts were 30 cars. 'x
An unexpected revival in the ex
port Inlying of wheat, with 1.400,000
bushels, bought by four leading
countries at the seaboard and gulf,
combined with reports of 90,000
barrels of flour sold ftr export, also
the strength and late advance in
Kansas City, Avhere exporters took
the offerings of cash and futures and
cleaned the market up, were instru
mental in making the late advance.
- Receipts of wheat at Minneapolis vvrc
97 cars, compared with 27! last week aul
203 cars last year; Duluth received 185
cars compared with 93 last week and 18
last year.
Close at Top.
They brought buying orders of all kinds
and combined with the higher tempera
tures in the southwest where high winds
were said to be damaging wheat crop, the
reference to hessian files in Missouri by
tho Modern Miller, and reports of green
bugs being active- in Texas and Oklahoma,
were responsible for the advance of 33i
to 4 cents after the early drop of 2 cents,
making a close at the top, although net
gains were small. All the big commission
houses were on the buying side, especially
those with seaboard connections. Selllnet
early was general and especially by local
operators who were against the market.
It was what one largf operator called a,
very poor class of selling.
Overselling in com early was the un
doing of. the bear element, as values
started up when wheat became strong and
the drop of 1 cents early -tas more than
recovered, the finish being at almost the
top at 70704 cents. Houses who were
active in the selling the previous day were
again at it, while the buying was scat
tered. CjFh prices dropped 1 1 cents early
anu regainea me low. discounts on low
grades were unchanged. Country offerings
and deliveries wero fair. F.xncrl sales
were 390.000 bushels here and domestic
sales 61,000. Week's exports were 1,470,
oon bushels while the day's arrivals were
442 cars.
Oats advanced over I cent from the early
low point and closed firm in sympathy
with corn. Commission houses were free
sellers early and buyers later. Cash prices
were 1 cent lower early and regained tbo
loss. Arrivals were 96 cars. Seeding is
in progress in the. southwest.
Rye was a small market with a bearish
undercurrent, especially for Jufy. Export
bids were 2 cents out of line., July was
under pressure and closed lower.
Tit Notes.
P. 1. Babcock says: ''Wheat is techni
cally in position for a rally, but some
essential item of news is necessary to
overcome the pessimism which exists lrt
business and investment circles. This new
element must come from crop outloolt or
brisk milling demands as export business
linu lOKt 11m effectiveness."
Winnipeg receipts were 290 care, againstTMr. am
SI last week ahd 16S a year ago.
' "I am bearish on this corn." said a
well-known cash corn specialist. "II
Is almost Impossible to sell corn for
domestic consumption and as to the ex
port demand, there will not be enough
cum exported over the amount normally
sold for foreign consumption to make
up for tho lessened consumption from
brewers and distillers." !
R. ' V. Leiand Sr. Co.'.s Omaha office
wired: "A local firm reports the sale
of a good quality of wheat to a- northern
mill that has not been in the market for
a long time."
.New Tork Cotton.
Xew York, Feb. 25. The New York
cotton market opened eaNy, at a decline
of 1227 polnta for the season, under
heavy selling by southern wire houses, fur
ther speculative liquidation and Liverpool
selling, weak cables, further declines In
securities, another break in London sil
ver and reports of a demoralizing .Man
chester market.
Private fables reporting that 2.000,
bales of cotton bad been shipped from
Liverpool on Saturday for delivery on
Xew York contract probably contributed
to the early break. Prices steadied late
ir. the day on trade buying and covering.
Soii-th Side
, .ue.ure .
' IMeaVfor th
Scout ilovcnici
we're made Tli
Boy Scout Leader Talks
Before Merchants Board
the support of tho Hoy
ivcnicnt on the Smith Sid.-.
liiirssday innht by utl
bert H. Grntlall, boy scout cmnnm-
sioncr, at a niceting-jot tlie imam o'
directors of the nwly ortfanuol
South Side Merchants' association.
The board discussed the by-laws
and constitution of the association
which will be voted upon at the next
meeting, and voted 11 new members
to the board of directors authorized
by the association. -
The new members of the hoard
arc Henrv Geest, Lonis Colin, Frank
Bogatr, W'alter Herry, lames Kiha,
Joseph Murphy, J. J. Mai key. Ben
jamin Lustgarten, John Larkin, C.
O. Kowalski and John Kresl.
South Side Brevities
Illlnoli coal, HI. Howlaud Lumber &.
Coal Co. Phone Houlh 1614. Adv.
The Omaha I3ee wishes o call your at
tention to ila new South Hlda branch of
fice. Looated In Philips Department
Diore, c e lii anu itiocia. "uy,
We wish to thank our many friends anil
neighbors, also MArrls & Co. ami oitico em
ployes, Jetter Beverage Co. employes and
office and the steamflltcrs of 1'old Pack
Ing Co. for the sympathy and kindness
shown us through the illness and death of
our beloved wife anil mother, also far tho
beautiful floral offerings. Fred Noll Ing.
Mrs. Frunk isoning. a;r. iuiu .n-.
R J. McCellan, Mr. and Mrs. a. h. tn.
Mr. and Mrs. C. E. Rlngo and Clara Fleglc.
Adv.
New Jjirk.Melals.
Xew York, Feb. Copper Easier:
electrolytic, spot and first quarter, 12,;
second quarter, 13(al3'tc.
Iron Nominally unchanged.
Tin Kasy: spot, and nearby, 831. 7M(
32.00: futures, t32.0O4i 32.50.
Antimony 5.20W5.2&C.
Lead Easier: spot, 4.00c.
Zinc Easy; St. Louis. epot 4. . jiff 4.90c
' New York Produce.
Xew Tork, Feb. 25. Butler--Strom; ,
creamery, hlglrfr than extras, 52 iri 52 '-t .
creamery extras. 01&61'.ie; creamery
flrstB 45fe5fl4c.
F.gga Steady; unchanged.
Cheese Firm; unchanged,
Live Poultry Steady ; fowls. 3Jc; roost
ers, 18c.
Chicago yt'rnduce.
Chicago, Feb. 25. Huiter 1 Itghei :
creamery extras. 31e: standards, alio.
Eggs Higher; leceipts, 13.878 -case-;
firsts 33si31c; at niarli, cities Included,
32V4Hi(33MiC.
Poultry Alive, lover; fowls. 28';c;
springs, 30c. .
URAVURE
section of the-
OMAMA BEC
esr ar&ae aaversri
ir U NEBRASKA
for all adver
"tisincf vhei'e
perfect rep'o
puctiorv y--
illustrations
is essentia!"
JL
Kansa-i City (train.
Kansas City. Mo. Feb. 2o. Wheat
March, 1.67?4 ; May, 1.52.
Corn May, tiJ'.Jc; July, 66c; Septem
ber, 7;c.
St. T.onis drain.
St. Loirts, Feb. 25. Wheat Match,
$1.68 4; May, $t.G0.
Corn May, 7o4o; July. 72e.
Oats May, 4R'.ic bid; July, 4ii?jc.
Mlniiivipolis (irain.
Minneapolis, Minn., Feb. 2d. Flour
Unchanged to 30e lower. In carload lots
family patents quoted at $9.309.3S ,,c.r
bbl. in 9i-lh. cottnu saclin.
Bran $23.00.
Wheat Receipts, 97 cars, compared
with 1-43 cars a year ago. Cash No. 1
nortnern, l.&6t1.70; JIarch, $1.64; May.
f'orn Xo, 3 yellow. S6i&57c.
flats Xo. 3 white: 39;4f40Sc.
Harley 50j S9c,
Rye No. 2, $1.24 H Sj, 1.43 i.
Flax Xo. 1, $1.8201.84.
Bar Silver.
New Tork, Feb. 25, P.ar
Domestic. 99'.jc; foreign, 648C.
Mexican Hollars 4lc.
Silver
Service
fn the Careful Handling of All Orders
for Grain and Provisions for Future
Delivery in All the Important Markets
We Operate Offices at
P 1
Private
Wire Connections
lo All Offices
Except Kansas City
Omaha,; Nebraska
Lincoln; Nebraska
Hasting, Nebraska
Chicago, Illinois
Sioua City Iowa
Holdrege, Nebraska''
Geneva, Nebraska
Das Moines, Iowa
Milwaukee, Wisconsin
Hamburg, Iowa
Kansas City, Missouri
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
1
EE
At
WZ: a-
Big Store
of .
Philip's
MEN'S HATS
Men's Cloth, Felt and Velour Hats
and
Values Up to $12.00
We have been able to purchase, by having immediate cash, from an eastern manu
facturer; a large stock of men's hats at a very low figure. We are therefore able to
sell these hats at ridiculously low prices. These hats are v in all sizes,
latest styles and different colors, some in felts, others genuine velour. It will pay
you to investigate this marvelous offer. '
$949
$gj49
In Our Shoe Department
2,500 pairs of shoes, consisting of men's, ladies,' misses', boys' and children's, in' pumps, oxfords,
work and dress shoes. Blacks and tans, dull and patent leathers. Hundreds to select
from. You are sure to find a pair in this stock that just suits you. Values up to
$10.00; on sale at (
mps, oxionis,
$259
44 pieces of the finest English Dinnerware, consisting of 6 large dinner plates, 6 breakfast
plates, 6 pie plates, 6 cups, C saucers, 6 soup plates, 6 sauce dishes, 1 cut glass djl Q CA
creamer and 1 cut glass sugar bowl, all for V lCOU
f) V I L
U
-IF 9
DEPARTMENT STORE
24th and O Streets South Omaha.
Ask for Green Trsdinj Stamps Thar are Ciren With Each Purchase.
V