17
THE BEH: OMAHA. SATURDAY. MARCH 12, 1021.
Sees Profit for
U. S. Capital in
German Industry
Industrial Leader Looks for
Readjustment Soon Which
Will Make American In-
n vestments Worth While.
By HOLLAND.
John H. Patterson, who is one .of
the foremost of American industrial
'leaders, sailed for Europe in Novem
ber hoping to be able to spend the
winter in careful investigation of the
situation there. Mr. Patterson' or
ganization, the National Cash Reg
ister company, was the pioneer in re
establishing American industries in
Germany. He had faith that in due
l time the industrial and commercial
situation in Europe will have been
so far. readjusted as to make it well
worth while for American capital to
make investment in industrial pro
duction nl Germany.
A letter from Mr. Patterson, which
was received this morning under date
of February 18, briefly summarizes
some of the impressions which he
has obtained by investigation which
has been continued for nearly three
months and may not end until April.
Mr. Patterson says:
Situation Unsettled.
"The situation in Europe, political,
economical and industrial, is very
much unsettled. There are so many
angles to the problem as to make
it difficult to tell what may happen.
If the selfishness of individuals, cor
, porations, communities and nations,
' also of politicians who make it their
LM1MI1CSS lu CIV gtiai lAlviifli. .v.
the people, could be overcome we
soeedilv would have a return to con
ditions for which ail ,weii-tninKing
men will be grateful. I should be
glad to see the nonpartisan govern-
if .-if .-.mi- emnll rnmmilnit V adntlt-
ed in some form by all the nations.'
What Mr. Patterson says rrflct at tirnt
hand ths view which Is tUn by me
who have heen giving careful study to
the European situation anil who have re
ceived Information from competent cor
respondents. Th trouble is, so they all
say, that there are so many angles to the
problem as to mrkc It exceedingly diffi
cult to reach a satisfactory solution. Many
times the suggestion has been made that
if racial pride, national selfishness and
the ambitions of politicians could be elimi
nated, than the path which would lead
to a satisfactory determination of tho
situation would be broad and easily
traveled.
No Beat Danger of Anarchy.
Sometimes It has been said, both In pub
r rninmiinicattona and In private con
versations, that tho lurking danger In the
present situation la an outbreak and sway
" of anarchy. Seme, have said that If
France takes her armies over Into Ger
many and malntalne them there and If
German industries arb paralyzed, then the
danger Is great that there will follow an
outbreak of anarchy and a menace to
the civilization of the world of which his
tory furnishes no example.
This, however. Is not the opinion of
those who are beet qualified to give Judg
ment. Tliey say that science and inven
tion nave raised barriers against an out
break of anarchy and the prevalence of
chaos. Rapid communication of Intelli
gence, which tha telegraph, the telephone
and swift transportation facilities furnish,
win of themselves serve as a -barrier more
powerful than any monarchical or demo
cratic absolutism for tho suppression of
annrchy.
Governments may bo overthrown, but
anarchy cannot prevail for any time ba
ft cause the sense of self-protection of all
tho enlightened nat'ons and the means
which they have whereby protection can
be socured will be sufficient to suppress
those who undertake to create and spread
anarchy.
Enlightened Belf-Intereet.
The tiew administration at Washington,
It is reported! is persuaded that whatever
the difficulties may be they will at last
be overcome through compromise, because
the enlightened self-Interest of the leading
- nations of the world will compel them at
last to agree In some adjustments which
will relieve the situation, England can
not afford to lose her trade which she
is 'so earnestly attempting to build up.
France Is gaintng In Industry and in
foreign trade and her enlightened states
men know that It la necessary for the
welfare of Franco that this be kept up.
Word comes from Italy that her states
men favor some reasonable compromise
because only In that way can Italy hope
to regain her Industrial and trade prestige.
- The United States is to exert a moral
Influence which may at last be. Irreslstable
and of sufficient strength to Compel rea
sonable adjustment of all dfferences. Wo
do not want to loso our trade with Ger
many or with Europe, but If worst came
to worst we could approach with Intense
zeal the markets in oiner pans oi me
., world, especially In South America and
."" tha far ea?t.
Will Secure Adjustment.
in oner, u may oe reporieu mat ma
prevailing opinion here Is that adjustment
will be secured,! that is, so far as general
principles are concerned and that Ger
many, on the one hand, and France,
Great Britain and Italy, on the other,
are In all sincerity anxious to reach a
satisfactory adjustment even though that
be based upon considerable compromises.
There ts no doubt that the present im
passe explains chiefly such depression as
now prevails In American manufacture
and In agriculture. For the situation is
such as to slacken ths demand tor Amer
ican raw materials and for food products.
It Is expected that If there be a satis
factory composfiion of the difficulty and
If the United States Is prepared to ex
tend long time credits, our Industries and
our farmers will Immediately- feel the
beneficial effect. Just1 now they are to
some extent marking time. ,
Dun's Trade Review.
Xew Tork, March 11. Dun's tomorrow
will say:
"With the advancing season, there Is
iiwnn stimulation of activities in certain
directions and an early opening of spring
trade is foreshadowed. Favorable weather
and the near approach of Easter ars help
ful to retail distribution .In different sec
tions and offerings of new merchandise
are meeting with a readier sale than bad
been expected. The reported paucity of
supplies In some textile branches also
gtves moderate Impetus to buying and a
' measure of support to prices after a pro
tracted period of yielding.
"The situation is still marked by un
satisfactory features, especially in Indus
trial channels, and revised estimates of
the general purchasing power are necessi
tated by the frequent wage reductions and
restricted manufacturing operations. While
orderaflow more freely to some producers,
the demand remains fitful and usually In
small lots to cover Immediate or nearby
requirements, Indicating a purpose among
many Interests to defer extensive engage
ments until conditions become I more
stable." '
Weekly bank clearings. 3.81,030.S3Q.
Sioux: City live Stock. , v
Sioux City, la., March 11. Cattle Re
ceipts. l.SOO head; market steady; fed
steers and yearlings, tS.50fl9.75; fat cows
and heifers, 5.0S.OO; canners, 11.36
i oft v. 1. 9ftnn&io&n ij
S.S6; calves, 15.00fi8.09; feeding cow and
heifers, M OOT 6.60; stockers. I5.OO07.&O.
Hogs Receipts, 11.S00 head: market
opened steady, 15c higher, closed lac lower;
light. SI0.lSiflO.60; mixed, 0.1009.13;
heavy, $9.00(69.75; bulk of sales, 9.60fl
10.S5.
Sheep and Lambs Receipts, 200 head;
market steady.
City live Stock.
Kansas City, Mo., March 11. Cattle
Receipts, 8(0; beef steers and she 'stock,
steady to weak; ail other classes mostly
steady; top, JJ.75; choice heifers. M.50;
choice cows, 17.00; few vealers, 110.000
10.00.
Hogs Receipts, 1,000: generally steady
to 1ft cents higher; choice lights to ship
pers, 111. 00; hulk of sales, 110.10.
Sheep Receipts, 3.(00; lambs, steady to
IS cents higher; 79-pound western, M.6;
mixed yearlings and wethers, steady at
tt.lt.
New York Dry Goods.
. New Tork, March 11. Trade in napped
.wiww. f,i.ci jwiuv on oasis or
SiV,o tor daisy elotfc against a baasis of
37 40 last season, developed well today.
next week. Print cloths dropped to a ba
sis of Ho for 314-Inch 4x0s. Tarns
were dull. Knit goods lines for the heavy
weight season wilt be opened Monday.
Raw wool wsis barely steady and silks
were In fair demand.
Bar Silver.
Nw Tcrk. March 11, Bar silver Po
xaestlc. 99 He; foreign. 54 c.
Mexican dollars 41
(THE GUMPS
MML MMtL" irs trom tue uuDwep- f increased Cost of Ul'l7 OH V ?'
f Look ax TMt flock mk. Awsew gump- oPERfcaoH it wll Vj Iff MK , t 3
- OF fcfct NtVJiS- ELVLRY ) f THIS 15 TO tvOYlFV YOlWAT NCCSM5Y,YO fcMSE J" Iji jj A r"N A
TlM THt MAIL MAW A-tffi' Yov) LEASE TERMINATES Otl VoDfc Sii ga f " (Vr
THE POOR SELL 'L lilt' V THE" ?OTH pw OF AreiL- ) 1 i hwTr,Co 75J D
' i f
Live Stock Omaha Grain I Financial New York Quotations
March 11
Hogs Sheep
11,619 17,641
12,159 4.917
14,747 8,099
15.674 9.T.H
14.500 16,500
(N,699 01.467
6,537 48.436
73.894 (2,366
71.287 44,034
(6,430 42,329
Receipts were: Cattle
Official Monday ie,043
Official Tuesday .3t7
Official Wednesday. 6,965
Official Thursday .. .674
Estimate Friday . . . 3.800
Five days this week 3K.799
Same day last wk. ..28.60H
Same day 2 wks. ago 27,303
Same day 3 wks ago. 22. 62
Same Year ago 29.311
Receipts and disposition of live stock
at the Union Stock Yards, Omaha, Neb.,
for 24 hours ending at 3 0 clock p. m.,
March -11, 1921i
RECEIPTS CAPS.
t'attre.Hogs.Sheep.
a. r. & st. p ...i4 6
Wabash . .v 3 1 4
Missouri Pacific 2 2
Union Paclflo 3S 60 41
C. & N. W.. east It 2
C. & K. W.. west 29 81 8
C, St. P.. M. & 0 21 27 (
C, B. & Q., east 13 ,4
C, It. & Q.. west 9 21 15
C., R. I. & P., east 7 3 1
C, R. I. & P., west 2 2 4
Illinois Central 8 4 1
Chi. Ut. West 2
' Total receipts loS 203 80
DISPOSITION' HEAP.
Cattle. Hogs. Sher
Morris & Co 619 2.077 1,021
Swift & Co 1,074 2.521 - 7,127
Cudahy Packing Co.. 601 2,019 1,694
Armour & Co 646 2.603 5,061
J. W. Murphy 2,679
Hold Pkg. Co 322 1,827
Lincoln Pkg. Co.... 34
So. Omaha Pkg. Co. 10
Ogden Packing Co 229
Higgins Packing Co 10
John Roth & Sons.. 3 4
Olasxberg 1 .
P. O'Dea '14 ;n
Wilson & Co 211 ......
W. B. Van Sant & Co.
F. P. Lewis 36
Huntzlngor & Oliver 24
J. B. Root & Co.. 57
J. H. Bulla 61
R. M. Burruss & Co. CO '.
Rosenstock Bros 3$
F. G. Kellogg 9
Werth'mer & Oegen 5
Ellis & Co... " 37
Mo.-Kan. C. & C. Co. 86 '
E. G. Christie.... 31
John Harvey 239
Cheek & Krebs .... 3
Dennis & Francis.. 94
Cudahy Bros 1,006
Smiley '. 11
Other Buyers .... 867 1,667
Total
4,2i 14,861 16,7Tfl
Cattle There was another good run of
cattle hero today, arrivals being about
3,800 head but the demand -was pretty
broad for Friday and anything desirable
in the line of Bteers and aha stuff sold
Just about steady. There was not much
demand for. In-between grades and they
were slow and In spots weak to a little
lower. Best steers here brought $9.86
10.00. 8tockers and feeders were about
steady on very small receipts.
Quotations on Cattle Good to choice
beeves, 19.4010.00; Fair to good beeves,
8.609.25; Common to fair beeves. $7.75
8.60; Good to choice yearlings, 39.00
lO.Ofl; Fair to good yearlings, I8.259.00:
Common to fair yearlings, $7,600 8. 2S;
Choice to prime heifers, $7.758.25; Good
to choice heifers, $6.607.60; Choice to
prime cows. $7.267.75; Good to choice
cows, i(.506.25; Common to fair cows,
$3.00 5.00; Good to choice feeders, $8.75
9.(0; Fair to good feeders, 18.2508.75;
Common to fair feeders, $7.5098.35 Good
to choice stockers, $8.50 S.00 : Fa!r to
good stookers, $7.758.(0; Common to fair
stockers, $7.257.7i; Stock h'lfers, 35.50
7.26; Stock cows, $5.006.00; Stock
calves, $6.008.00; Veal calves. $8.00
9.50; BullB, stags etc. $4.257.00.
BEKF STEERS.
14 947 8 50 22 945 8 $3
24,, 90(1 3 75 10 966 8 85
24. 1023 9 00 16 1290 9 10
22..".... 132 9 23 23 1103 9 So
36 1188 9 40 14 1274 9 50
10 1097 9 68 19 13SS 9 65
26 .1368 9 75 30 1199 10 00
STEERS AND HEIFERS
11 847 7 00 19 832 7 25
22 70S 7 75 6 825 8 85
14 63S 8 40 32 1005 8 50
S...... 775 8 60 8 1003 9 00
16 851 9 60
YEARLINGS
05 741 8 35 35 857 8 40
9 (77 8 (0 25 820 8 65
COWS
10 881 5 25 9 1056 t 00
10 1087 6 15 18 908 40
14. ...... 1047 6 60 13 1091 6 (0
18. ..I. .1167, 75 11 1200 6 90
18 1281 7 00 10 1141 7 10
22 1134 7 25 38 1188 7 35
18 1044 7 (0 27 1227 7 60
HEIFERS '
14 (521 00 U!..:... 619 3 25
18 637 75 19 980 7 (0
10 1097 7 60 34 898 7 65
12 721 7 75 30 744 8 (0
STOCKERS AND FEEDERS
10 699 7 60 12 932 8 20
21 719 3 40 35 749 8 76
BULLS
2 1500 4 75 1 970 5 60
CALVES
12 853 50 . 12 572 8 75
Hogs A relatively heavy run of hogs
arrived for today's trade, the yard esti
mate calling for 14.500 head. The possi
bility of labor trouble In packing plants
had a tendency to cut down the demand
and trade developed rather slowly at prices
anywhere from steady to quarter lower.
Best light shipping hogs made a top of
810.35 and bulk of the receipts sold from
$9.60 to $10.10.
HOGS
2.. 319 9 60 64.. 268 40 9 65
33.. 253 9 70 5b.. 229 9 75
66.. 2S 9 SO 75.. 331 9 85
74.. 232 9 90 69.. 228 10 00
56.. 310 10 10 78.. 197 10 15
79.. 203 10 26 69.. 196 10 30
60.. 208 10 35
Sheep The run of sheep and lambs this
morning, about 16,500 head, was much
heavier than dealers had expected, but the
demand appeared to be fairly broad, and
good light and handy lambs sold on a
steady to easier basis, with others 25 50c
lower. Best lambs brought 310.1010.15
snd In-between killers moved around $9.50.
Sheep supply consisted of two or three
shipments of ewes, selling steady at 36.75
6.00. Wethers and yearlings were scarce.
Movement of feeders and shearers to the
country is very small, with prices showing
no material change.
Quotations on sheen: Best fat lmh
$10.00IJ19.25; medium to good lambs.
H.I5S9.75; plain and heavy lambs. 18.75
(99.25: shorn lambs, 3J.OOS9.00: yearltnas.
$7.S0'38.25; aged wethers. $ff.00'96.75; good
to choice ewes, $5.506.00: fair to good
ewes, $5.005.50: cull and feeder ewes,
32.0093.25; shearing lambs. IS.2Sgl.75.
FAT LAMBS
187 fed. 86 9.40
Chicago life Stock.
Chicago. March 11. Cattle Receipt,
5.000; beef stetra and butcher stock'gen
erally steady, spots lower; top beef steers.
310.55; bulk. 38.76910.00: bulk cows snd
heifers, 3.08.0O; all other classes gen
erally steady; canners and cutters, largely
33.0094.(0; bulk bulls. 35.250(.2(; veal
calves, to packers largely, 3I1.0O&12.00;
bulk stockers and feeders, 87.75C9.00.
Hogs Receipts, 29.000; lights steady to
16e lower; top early. 311.60; bulk 200
pounds down, $11.90011.(0: bulk 220
pounds up, $9.3(910.(0; pigs, weak to
!(c lower. , .
Sheep and Lambs Receipts, 14,000;
slow, about steady; lambs, top, $10 95;
shorn lambs, top, 39.60: bulk fat wooled
lamBfe, $10.00610.86: 98-pound wooled
yearlings, $7.50; bulk fat ewes. $5.50
$.00; top, $6.35; average 103 pounds; Im
pound shorn wethers, $6.00.
St. Joseph TJre Stock.
St. Joseph. Mo., March 11. Cattle Re
ceipts. 700 head; market steady; steers,
$7.00010.26: cows and heifers, 13.6089.50:
calves. $6.00910.00.
Htogs Receipts. $.500 head; market
steady to lOo lower; top, (10.(5; bulk.
$l.00ff 10.60.
Sheep and Lames Receipts, 1,700 head;
market genorally steady; lambs- $1,109
10.(0; swes, IS.OtsHO.os.
March 11.
Corn arrivals today ere fairly
substantial and other grains light.
Wheat sold slowly at a decline of
56c. Corn was off J43c, the
bulk Vi2Y2Z lower. Oats were off
llc Rye was nominally 3c off
and barley nominally 2c down.
Russell's News bureau confirmed
the sale of around 750,000 bushels
of wheat for export today, partly to
Holland and part to Germany.
Sweden took 89,000 Manitobas.
Chicago handlers' reported 200,000
bushels corn sold for export today.
Missouri crop report gives t,he con
dition of winter wheat at' 90 and (the
crop generally in good shape. Farm
er sin the state intend to reduce
their corn acreage 2 per cent, the
report says. Oat acreage w,ill be in
creased 2 per cent. Winter wheat
crop in the United States is two
weeks early with condition high,
says the Modern Miller. Green bugs
are abundant in black soil in Texas
and Oklahoma, but appearance of
plant is good, says the report. Pro
duction in soft wheat states is indi
cated as large.
WHEAT
No. 1 hard: ( cars, $1.55; 1-3 car,
$1.63.
No. 2 hard: 1 cor. $1.57 (dak): Z cars.
31.53: 1 car, $1.62 (smutty); 1 car, $1.47
(very smutty.)
No. 3 hard: 2 cars, $1.62; 1 ear, $1.18
(smutty); 1 car, $1.48 (smutty).
No. 4 hard: 1 car, $1.49Vi; 1 car, $1.40
(smutty).
No. 6 hard: 1-3 car, $1.35 (musty).
No. 1 spring; 1 car. $1.65 (soft white).
No. 4 mixed: 1 ear. $1.47 (shippers wts).
CORN
No. 2 white: 2 cars, 55c.
No. 3 white: 9 2-3 cars, B4c.
No. 4 white: 3 cars, (2c.
No. 1 yellow: 1 car, 68c.
No. 3 yellow: 7 cars, (4c; 3 cars, (3c.
No. 4 yellow: 6 cars, 52c,
No. 3 mixed: 1 car, 53o (dry); 7 cars,
(2 Ho; 4 cars. -62c.
No. 4 mixed: 6 cars. (1c: 3 cars. (OUe:
fl car, 60Vjc (19 per cent moisture).
jvo. o mixea: 2 cars. ouc. v
No. 8 mixed: 1 car. 49 (shippers wts.).
OATS
No. 2 white: 5 cars, 41c.
No. 3 white: 5 cars, 40c: 2 caTSj 4014c
(shippers wts.); 2-3 car, 40c.
No. 4 white: 1 car. 40c.
RYE
No. 2: 1-$ car. 31.37.
OMAHA RECEIPTS AND SHIPMENTS '
, (CARS).
Receipts Today TTk. Ago Yr. Ago
Wheat 34 62 56
Corn 97 SB 43
Oats 16 1 7 17
Rye .. 9
Barley 14 2
Shipments-
Wheat 31 28 26
Corn 45 41 41
Oats 19 S 2S
Rye 2 ' 3 1
Barley 1 1 1
PRIMARY RECEIPTS AND SHIPMENTS
(BUSHELS).
Receipts Today Tear Ago
Wheat 867,000 654,000
Cora 1,108.000 870,000
Oats 695,000 601,000
Shipments
Wheat ... 538,000 328,000
Corn 834,000 426,000
Oats ,. 416,000 - 469,000
EXPORT CLEARANCES.
Today Year Ago
Wheat 674,000 214,000
Corn 606,000 .......
CHICAGO CAR LOT RECEIPTS
Today WcekiAgo Year Ago
Wheat 48 31 6
Corn 317 477 106
Oats 118 m 45
KANSAS CITY CAR LOT RECEIPTS
Today Week Ago Year Ago
Wheat 136 173 133
Corn (4 64 53
Oats 10 18 25
ST. LOUIS CAR LOT RECEIPTS
Today Weeli Ago, Year Ago
Wheat 65 99 43
Corn 6t 105 94
Oats 48 54 r,z
NORTHWESTERN CAR LOT RECEIPTS
OF WHEAT
k Today Week Ago Tear Ago
Minneapolis ....30$ lis ISO
Duluth . . 53 137 V
Winnipeg 81 7 327 184
CHICAGO CLOSING PRICES.
By Tjpdlke Grain Co,. Doug. 2627. Mar. 11.
Art. I Open. I High. I Low. ( Close. Yes'dy
Wh't I N
Mar.. 1.6514 1.651; i.jj 1.624 1.664
May l.6i 1.66i( 1.53 1.63'i 1.67
Ry 1 j )
-May 1.41 '.41 1.4141 l-40 1 1.42'i
July 1.23ft! 1.23HI 1.21 1.2141 1-24U
Corn 1 I I
May .70 .70 ( .6"' .69, .70H
July .I2ti .72141 .71 Vi .71i .72?,
Oats till
May .44H ,44ti! .43B( .43", .44'i
July .( .45?, .44i .44i .45i
Pork I
May 21.65 21.65 21.50 21.50 21.95
Lard
May 12.00 12.00 11.90 11.90 12.17
July 12.47 13.47 12.30 12.30 12.57
Ribs
May 11.70 11.70 11.67 11.63 11.80
July 12.00 112.00 11.90 11.95 12.20
Minneapolis Grain.
Minneapolis, March 11. Flour Un
changed to . 20c lower. In carload lots,
family patents quoted at $9.00 9.35 a bar
rel In 98-pound cotton sacks.
Bran 323.00. N
Wheat Receipts, 303 cars, compared
with 180 cars a year ago. Cash: No. 1
northern, $1.581.63; March, $1.47; May,
1.46M. 4
Corn No. 3 yellow, 64tj 55'ic
Oats No. 3 white, 3SH38Hc.
Barley 48 68c.
Rye No. 2, $1.37 U 1.83 i.
Flax No. 1. $l.76;1.79;.
I
Kansas City Grain.
Kansas City, Mo.. March 11. Wheat
March, $1.61; May, $1.47H.
Corn May. 62"ic; July, 66Hc; Septem
ber, 674c.
St, Louis Grain.
St. Louis. Mo.. March 11. Wheat
March, $1.624: May, $1.(34.
Corn May. t94e bid; July. 72c.
Oats May, 44 fro asked; July, 4 5 Vic.
New York Sugar.
New Tork, March 11. There was no
change In raw suRar prices today, but a
much better inquiry was reported and busi
ness was of litlrly large proportions.
Prices were quoted Rt 6 cents for Cubas,
cost nnd freight, eoual to 6.02c for centri
fugal by the committee, while outside
sugars sold on the same basis. Earlier
In the day there were sales of 5,000 iags
of old crop Cubas bv an operator to out
port refiners at -4 Tic cost and freight,
which was believed to have been purchased
before the sugar committee took over the
handling of the crop, while the committee
reported sales of 10,000 tons to United
Statts at (c, cost and freight and
9,000 tons to Europe at 4.86c f. o. b.
There were also sales of about 145,000 bags
of Porto Rlcos to local refiners at $.0Jc
fo Centrifugal.
Jfew York Dried Fruits.
New Tork, March 11, Apples Evapor
ated, firm.
Prunes Cnsett!ed.
Apricots Firm.
Peaches Quiet.
Raisins More active.
Llnd Oil.
Duluth. Minn., March U. Linited On
track and arrive, $1.74. '
THROW OUT THE LIFELINES
BY ALEXANDER DANA NOYES
Chicago Tribune-Omaha. Bee Leased Wire.
New York, March 11. Today's
decline on the stock,exchange, which
affected industrial and railway shares
alike, was more general and, in some
respects more sevejrc than any that
has occurred since last December,
and the actual business done reached
1,000,000 shares for the first time
in 'nearly nine weeks. In the rail
way slocks there was more irregu
larity than might have been expect
cdv for some of them recovered in
the early trading and although many
of them fell 1 to 2 points afterward,
all closed above the lowest.
But the unscttlcment in that quar
ter of the market was made the ba
sis for heavy selling of the industrial
stocks, partly, though not wholly,
from professional sources. Declines
of 2 to 3 points were fairly numer
ous in that group and there was lit
tle recovery at the last.
Kail Market Fivots.
The market did not move In response
to any new turn in the general situation,
and except for the railway wago cut an
nouncements, there was less news than
usual, such as would affect financial sen
timent. Hut although tho railway shares
were not the weakest, the market nlearly
pivoted on the railway situation. This
meant only that the announced program
of the railway managements has drawn
attention to the peculiar character of the
position.
Taken by themselves, these proposals
are neither novel nor unusual for a period
of severe business reaction with the re
sultant decrease in. traffic. But the real
cause of perplexity is the coincidence of
such a trade reaction, not predicted be
forehand in the scope that it has as
sumed, with working costs whicn had
Just been Jacked up to a level, measured
by the business of tho abnormally activo
times.
In face of tho changed conditions since
the labor board's increase of 25 per cent
in railway wages by the award of last
July, the present amove for revision of
the wage schedules was Inevitable.
Language Affects Market.
Today's attitude of the market was In
fluenced also by dislike at the language
In which the plan for a congressional In
quiry was first reported, especially the ref
erence to an inquiry into "chnrges of
gross mismanagement." But in the 'mat
ter, Wall Street apparently overlooked
the -fact that the chairman of the senato
commerce committee was referring to
hostile allegations which had been mado
In precisely those words and would nat
urally have to be disposed of whenever
the general situation snouia De oriiciauy
considered. The mood of Wall street to
day was one in. which Questions of that
sort were discussed chiefly in the liht
of prices on the stock exchange.
Other markets were not, as a ru-le, af
fected bv the decline on the ?tock ex-
nhaneo. Kurone's onlitical difficulties had
apparently fallen into the background. For
eign exchange rates yielded fractionally.
out recovered pxaeucauy an ine eany
loss with tho German mark closinsr high
er, while a Bharp rise in European govern
ment bonds brought 1'rench rents up half
a point for the day and British 6 per cents
at full points. The wheat market de
clined 4V4c per bushel, a movement
ascribed on Wall Street to the industrial
condition, but better explainable on the
cround of the very high estimates of
stocks of wheat still on hand from the
1920 harvest.
New York Cotton.
New Tork. March 11 The cotto.i mar
ket opened steady at an advance of 1 to
i points In lesponae to Liverpool cables.
Privnlo cnhles. however, reported a quiet
marker, there, with Manchester still poor
and the local market turned easier artcr
the oieninK. as a result of southern, Wall
screet and other selling.
May ased tf from 11.88c to ll.C6c and
July from 12.35iel2.15c, with active
months generally selling 3 to i points
below last nleht's close. Tho big re
duction announced in the prices of some
lines of staple cotton goods was accom
panied by reiterated reports of increasing
mill curtailment which helped to check
the early advance.
The early declino carried May off to
11.66c and July to 12.05c during the
middle of the incrnlng. or about 23 to 25
points lower. Offerings were Ilnht and
prices steadied toward midday on cover
ing for over the week-end, with May sell
ing up to 11 72c or within 9 points of
last night's cloje. '
Late advices from I.ivernool reported
an improved tone, owing to easier money
marh-ct conditions ana aslo said that China
had been a light buyer of distant months.
suggesting improved trade In the far east.'
Boton Wool
Boston. Mass.. March 11. The Commer
cial Bulletin tomorrow will say:
"At the moment, tha wool market is re
ported quiet, with) prices hardly changefl
and with dealers waiting the advent of
the manufacturers to the market to cover
their raw material requirements against
me sales wnicn are reported to have
been fairly satisfactory in the goods mar
kot. "Interest centers chiefly on the ques
tion of the probable actihn of congress
with reference to the tariff "
Scoured basis:
Texas Fine 13 months, 7585c; fine
eight months, 65jrC0c.
California, Northern, 78 0 85c; middle
country. 75c; southern, 5560c.
Oregon Eastern No. 1 staple. 8090c;
eastern clothing. 6570c; No. 1 6570c
Territory Fine staple, choice, 8595c;
one-halfblood combing, 7580c; three-eighths-blood
combing, 536Sc; one-quarter-blood
combing. 43 48c; fine and fine
medium clothing, 6u70c.
Pulled:
Delaine. 95c$1.60; AA, 90c$1.00; A
supers, 705jS0o.
Mohairs: Best combing, 30 32c; best
carding, 2527c.
Omaha nay Market.
Receipts of prairie hay light and de
mand good on better grades, which hss
caused the better grades to advance.
Alfalfa receipts heavy while the demand
Is quiet causing prices tt decline. Lower
grades of alfalfa are slow sales. Oat and
wheat straw steady.
No. 1 Upland Prairie Hay, $11.50 S 18.50.
No. 2 Upland Prairie Hay, $9.00S11.00.
No. S Upland Prairie Hay. S? 8.60.
No. 1 Midland Prairie Hay. $10.(0011.60.
, No. S Midland Prairie Hay. 38.6010.60.
No. 1 Lowland Prairie Hay, $8.00(3)9.00.
No. 2 Lowland Tralrle Hay. $7.008.00.
Choice Alfalfa. $20,000 21.00.
No. 1 Alfalfa. 3l7.008rl9.00.
Standard Alfalfa. $11.00(816.00.
Nn.2 Alfalfa. 8.EO10.00.
No:' 3 Alfalfa, 87. 00(8 8.00.
Oat 8trw, J8.005J9.no.
Wheat Straw, $7.508.00.
New York General.
New' York, March 11. Flour Easy:
spring patents and Kansas straights, 33.61
t9.00; spring clears, ?6.2i7.25; winter
straights, 8.OO0?'!5.
Wheat Spot easy; No. 2 hard. 31.33 and
No. 1 Manitoba, 3)1.91 o. I. f. track New
York and No. 2 mixed durum, 31.73 e.
i. f. to arrive.
Corn Spot, easy: No. 3 yellow. 85t4c;
No. 2 white, 86c and No. 2 mixed, 85c c.
I. f. New York 10-doy shipment.
Oats Spot, weak: No. 1 white 66c.
Other articles unchanged.
Turpentine and Rosin.
Savannah, Ga., March 11. Turpentine
Dull; 64c; no sales; receipts, 97 bar
rels; shipments, 117 barrels; stock, 11,
66C barrels.
- Rosin Quiet; r.o sales; receipts, 132
casks; shipments, none; stock. 75,015
casks.
Quote: TJ. D. Vi. P. G. II. 1. K. 11.
X. WO. WW. 311.00 .
Range of prices of the leading stocks
furnished by Logan & Bryan, Peters Trust
building:
RAILS.
Thurs.
High Low Close Close
A.. T. S. P -84 77i 78 79T4
Baltimore & Ohio Si i 30H 30', 31
Canadian Paclflo .H1t llOTi HO'i 110ft
N. V. Central (i7si 66 66 8
Ches. & Ohio 57 i (64 56 (7
Krle R. R 12' lit, 11 12ti
Gt. Northern, pfd. 70 69 70 70,i
Chi. Ut. Western.. 7i 7 7i 7'i
Illinois Central ... 8SM) 8(iVx 86Vj 68 ,
Mo., Kan. A Tex.. 2'., 2 2H 2
Kan. City Southern 22 21 1, 21 H 23
Missouri Pacific . 164 16 16 4 17
N. N. H. & II. 16i 16 16?s 16 "S,
Nor. Tacifie Ey... 77 75 76 77'4
Chi. & N. W 64 64 64 64
Penn. R. R 36'i 35 364 36
Reading Co 71s 69 69 704
V., R. I. & P 24t 224 23'4, 244
Sou. Tacifie Co 724 70 704 72
ioutliern Ry 195 1 9 V4 194 20
Chi.. M. & St. P... 24 23 234 23
Union Pacific ....114 113 1H', 117
Wabash 7V4 1 1 1H
STEELS.
Am. Car & Fdrj'-.-1224 13t - 122',i 1224
Allts-Chahmers 35 33 35 34
Am. Loco. Co...:. 83 82, 82'i 851
Utd. Alloy Steel.. 32 4 32 4 32 33 '4
Baldwin Loco 874 844 4 '4
Beth. Steel Corp... (64 (44 644 56
Colo. Fuel-Iron .. 264 26'4 26 264
Crucible Steel Co.. 90 86 4 88 U, 04
Am. Steel Fdry... 294 29 4 29 29 4
Lackawanna Steel 51 4 60 4 (04 62
Midvale Steel ... 294.29 29 294
P,H Kleel Car 85 83 834 8G4
Rep. Iron-Steel .. 64 1 624 624 64
Ry. Steel Spring.. 87 86 86 87
Sioss-Shef. 8tl. .. 42 2 43 43
U. S. Steel 79i 7 7 ' WA
COPPERS.
Anaconda Cp. Mln. 844 34 U 344 344
A. S. & Rfg. Co.... 37 36 364 364
Butte & Sup -10 10 10 11
Chile Copper Co... 9 94 9 . 9
Chlno Copper Co... 20 19 20 20
Calumet & Arl 46
Insp. Cons. Cop.... 31 80 30 31
Kenne. Cop 16 16 16 16
Miami Cop. Co.... 16. 16. 16 ,37
Ncv. Con. Cop 9 94 94 '34
Rav Con.-Cep 114 H4 Htt 11
Utah Cop. Co 47 464. 46 48
INDUSTRIALS
Am. Beet Sugar.. 424 4 404 42
A., G. & W. I. S. S. 424 40 41 40
Am. Int. Corp..... 42'4 404 41 42
Am. Sum. Tob 824 79 79 4 82
Am. Cot. Oil 194 l'i 14
Am. Tel. & Tel. ..102 101 102 101
Am Zinc, Ld & Sm 8'4 8 4 8 8 4
Brklyn Rap. Trans 11 11 114 124
Bethlehem Mot.. 24 24 24 4
Amer. ' Can Co 57 26 264 274
Chandler Mot. Car 71 70 70 4 714
Central Leath. Co. 37 36 M 36 3714
Cuba Cane Sug... 22 21 21 22
Cal. Pack. Corp.. ,59 694 69 GO
Cal. Pet. Corp. .. 38 33 35 38
Corn Prod. Rfg Co 70 69 69 69 U
Nat Enam & Stmp 56 66 (6 - (6
Flak Rubber Co.. 13 134 134 13
Gen. Elec. Co. ..1284 128 1284 1284
Oast Wms & Wg 2 4 2 2 4 2
Oen. Motors Co... 12 134 13 12
Goodrich Co 36 34 35 36
Am Hide & Lthr 8 4 B4 8 4 9
Hask. & Brkr. Car 65 64 56 , 664
V. S. Ind. Alcohol 66 65 654 67
Irternat. Nickel.. 14 134 13 14
Internat. Paper... 53 614 53 53
AJax Rub. Co 28 28 284 284
Kly-Spring. Tire . 38 364 364 38
Key. Tire & Rub 14 13 13. 14
Internat Merc Mar 13 12 12 124
Mexican Pet 1654 143 1444 154
Middle States Oil. 124 114 11' 124
Pure Oil Co 314 31 31 31
Willys-Overland ,, 711 7 7 7
Pierce Oil Corp... JO',4 10 10 104
fan-Am. P. & T . . 72 67 674 724
Fierce-Arrow 25 24 24 26
Royal Dutch Co... 63 61 614 62i
U. S, Rubber 66 654 65 66
Am. I Sugar Rfg... 90 894 90 90
Sinclair Oil & Rfg. 2114 39 20 214
Sears-Roebuck .... 75 73 734 75
Stromsberg Oarb. . 31 27 4 28 31
Studebaker Corp. .60 58 68 4 60
Tob. Prod. Co 51 49'J 49 6114
Transcon. Oil .... 7 714 7 8
Texas Co 49" 38 38 40
V. S. Fd. Pr. Corp. 21 19 19 21
IT. S. 8., R. & M. . 30 29 30 29
White Motor Co... 38 38 3S 38
Wilson Co., Inc.. 41 40 40 414
West. El. & M.... 454 45 464 46
Am. Woolen Co... 63 62 63 62
Total sales, Ll'2,200.
Money Close, 7; Thursday close, 7.
Marks Close, ,0156; Thursday close,
.0159.
Sterling Close, 3.91; Thursday close,
3.00 4. ,
Francs Close, .0718; Thursday close,
.0715.
Foreign F.xchanze Bates. ,
Following are today's rates of exeha,nge
as compared with the par valuation. Fur
nished by the Peters National bank.
Par Val. Todav
Austria 30 .0026
Belgium , 195 .0747
Cxecho-8lovakla 0135
Denmark , 27 .17S0
England 4.86 8.91
France , 193 .0716
Germany .238 .0161
Greece, 195 .0765
Italy 195 .0371
Jugo-Slavia j. .0074
Norway .27 .1365
Poland .0015
Sweden 27 .siSbg
Switzerland ,195 .1690
Kansas City Produce. "
Kansas City, Mo., March 11. Eggs 1
cent lower. 2Hc: seconds. 24c.
Creamery butter 2 cents lower, 60c;
packing, unchanged, 16c,
Poultry Unchanged.
What Makes
the Market?
Not only a bare list of stock or grain
quotations (although they are there,
too complete and accurate),
But the gossip which tells the "Why" of
the figures.
It Is Published Every Day
Michaels' Chicago Grain Letter
N. Y. Times Financial Review
in
The Omaha Bee
Chicago Grain
By CHARLES D. MICHAELS
Chicago Tribune-Omaha Bee xased Wire.
Chicago, March 11. Pessimism
dominated the grain, security and
cotton markets today. There was
liquidation and increased bear pres
sure in all markets, with discour
aged buyers all around. Bear trad
eds took advantage of the weak
buying power to sell freely and they
closed at the inside, with wheat off
44 l-4c, corn 7-8(3)1 l-8c, Nats
l-4(5)3-8c, rye 1 3-42 l-4c and
barley 1 l-4c.
Bullish news and conditions failed
to have effect on the wheat trade,
as sentiment was strongly bearish
and few appeared disposed to buy
except to secure profits on previous
sales and on holdings of bids. The
latter was a factor in sustaining
values in the last hour, after a de
cline of 4 l-4c on March and May,
the close being l-4l-2c over the
inside with March at $1.62 1-4 to
$1.62 1-2 ant May $1.53 1-2 to
$1.53 3-4.
May com dropped -td 68 5-8c at
the low point and finished at 69 1-4
69 l-2c. The trade, on the whole
asstimes that with the big interior
reserves there is no hope-for perma
nent advances and are selling with
the least encouragement and meet
little opposition from buyers.
Cash Discounts Better.
The main sapport was covering and
buying against bids. Exporters took 300,
000 bushels here at 11 !4c over Chicago,
May, track Baltimore. Cash discounts
were relatively better with elevator in
terests the best buyers. At the five
markets there were 673 cars, against 775
cars a week ago, and 609 cars last year.
Indications are for a lighter run next
Oats seeding operations are progressing
in the southwest and west and the central
wet. The trade seas no good in this
grain, owing to large Interior and ter
minal stocks and a -right demand, although
more business has been done of late and
100,000 bushels sold today. Receipts,
while light, werai ample for the demand.
Cash prices" dropped l2c, with 93 cars
In. No. 3 white was May price ana ivo.
3 white 110 under.
Rye was bought by houses with sea
board connections nd sold mlny be
cause of the weakness in other grains.
' Pit Notes.
While S treat deal of the wheat selling;
rae local, heavy sales were also credited
to the same operators who. were credited,
with selling stocks In Wall street. North
western operators were selling futures
here as continued Imports of Canadian
wheat and the slow flour demand With
prices lower, destroyed the confidence1 of
buyers. Even the reports of 1,000,000
bushels gulf, Manitoba and durum wheats
Bold for export failed to stimulate any
buying, as traders assumed that export
buying as a strengthening factor had lose
its influence. 1
There were sales of CO.000 bushels
wheat here to go to store and a limited
milling demand, wlth top grades easier
and the lower grades firmer and sales
of only 12,000 bushels. Casll prices Ui
western and southwestern markets were
2 3c lower with increasing stocks.
The movement Keeps up fairly well with
632 cars at all points or 12 cars more
than the previous week. There were 403
ears last year. Export clearances were
6.365,000 bushels for tje week, compared
with 6,043,000 last year.
A great deal of stress was laid oq
the favorable crop report of the Modern
Miller and less to the green bug damage.
The showing of 320,000,000 bushels wheat
In all positions by the government report
and of 18.000,000 bushels less than last
year, was variously construed by, the trade,
although in reality It shows a small sur
plus. Domestic ehtpplng sales of cash wheat
at Chicago were 12.000 bushels; corn, 65,
000 and oats 100.000 bushels.
Premtums on hard winter wheat were
lowered 1 cent wifi No. 1 hard selling
at 35o and No. 2 hard at 3fl3c over
March, while red was unchanged at 10
12c over for No. 1, and 9 lie for No.
2. Springs generally were unchanged with
6l2 and 7
Farm Mortgages
39 Years of Loaning Experience
Without a Lost to tho Inyestor.
Write for List
Kloke Investment Company
Phone Doug. II SO. . Omaha
Drawn for The Bee by Sidney Smith.
Copyright, 1921, Chicago Tribuos Companf
Bonds and Notes
The following quotations furnished by
the Omaha Trust company:
v Yield
Price Pet.
American T. T. Co. 6s, 1922. 96 7.70
American T. & T. Co. 6s, 1924, 95' 7.80
Anaconda 7s, 1929 93 .10
Armour 7, 1930 96 7.47
Hflgian Government 8s. 1941.. 97 4 8.25
Helglan Government 7 4s, 1945 7.85
Bethlehem Steel 7s, 1922 99 7.70
Bethlehem Steel 7s, 1923 974 8.30
British 64s, 1922 94 8.3S
British 64s. 1929 88 7.21
;Hritlsh 64s, 1937 864 6.92
C., B. & y. Jt. 4J. 1921 97 S.40
C. C. C. A St. L. 6s. 19E9 88 8.02
Chrtsttanla Us. 1946 95 8.42
Cudahy Packing Co. 7s, 1933. 98 7.80
Denmark 8s, 1945 98 8.18
French Government us. 1945... 97 8.25
B. F. Goodrich 7s. 1925 90 10.10
.lapaneBs, Gov. 1st 4tis, 1925.. 82 9.88
Japanese Gov. 4s, 1931 64 9.70
Morris & Co. 7 Vis, 1930 98 7.68
Norway 8s, 1940 99 8.10
Northwest. Boll T, Co. 7s, 1941 96 7.30
N. Y. Central 7s, 1930 101 6.86
Penna. R. R. Co. 7s. 1930 102 6.75
Southwest. Bell T. Co. 7s, 1925 96 Vi 8.0.1
Swedish Government 6s, 1939.. 80 8.10
Swift & Co. 7s, 1925.... 96 7.85
Swiss Government 8s, 1940. ...102 7.73
U. S. Rubber 7Hs. 1930 99Vs 7.60
Westinghouse Elec. 7b, 1931.. 99 7.12
regular No. 1 northern, l5c and dark
No. 1 northern, 6 4f 1 1 c over March. Sales
of 50,000 burhels were made to go to
store. Receipts, 48 cars.
Cash wheat prices in outside markets
broke sharply with St. l.ouia off 3 (J 6c.
Kansas City, 2$4c and Omaha. 66c. At
Minneapolis choice was unchanged and
some of the low grades, 1 B 2c higher.
Chicago Potatoes.
Chicago, March 11. Potatoes Lower;
Tecelpts, 47 cars; northern white, sacked,
31.861.40 cwt.: bulk. 81.36W1.45 cwt.
Extraordinary Sale of
Yard and Curtain Goods
At Philip's Big Store Saturday
13c
13c 13c
YARD GOODS FOR DRESSES OR APRONS .
For Less Than Pre-War Prices
5,000 yards of Apron Check and Plaid Gingham Shirtings and
Fancy Curtain Scrim. These have been regularly sold at 1 o
35c per yard on sale special for Saturday at, per yard. . 1 3C
Curtain
Wonderful display of curtain materials to select from, consisting
of Figured Nets, Voiles and Marquisettes, in different colors nd
designs, all goods 36 inches wide, regularly sold for $1.00 OQ
per yard, on sale now, at a yard OJC
. PHILIP'
DEPARTMENT STORE
24th and O Streets South Omaha
Ask for tljC Green Trading Stamps.
UPDIKE
COMPANY
Operating large, up-to-date Terminal Ele
vators in the Omaha and Milwaukee mar
ket, are in a position to handle your ship
ments in the -best possible manner i. e.,
cleaning, transferring, storing, etc
MEMBERS
Cbicafo Beard of TrmcU
Milwaukee Chamber of Com
merce Minneapolis
Chamber
of
Commerce
St. Louis Merebanta Ex.
change
Kansas City Board of Trade
Sionz City Board of Trade
Omaha Grain Exchange
It will pay yon to get In touch with one of our offices
when wanting to BUY or SELL any kind of grain.
WK SOLICIT YOUR
Consignments of All Kinds of Grain
to OMAHA, CHICAGO, MILWAUKEE,
KANSAS CITY and SIOUX CITY
Eyery Car Receives Careful Personal Attention
The Updike Grain Company
THE RELIABLE CONSIGNMENT HOUSE.
r - v-
wiitieiiiimiisssnsmiSussaiiiBt toKmHm-iwi.i-mitntdijtatrmBmmmmi:
Club Wants Streets
Known by Numbers
Requests that Sherman avenue br
termed Sixteenth street ami thai all
nortli-and-south main Mrsvts be le-N
signated by numbers will be made;
to the eity coilinii.ssioncrs bv the
North Side flub, following ailion
taken at the organisation's last meet
in I?.
The city council has amnoved tho
club's request (or additional arc
lights and arrangements are hems
made for a joint meeting of the tvui
bodies to discuss repair work on
Ames avenue.
Commissioner Utc addressed the
club, speaking on city finances,
the proposed charter and the Ne
braska Power Co. rate Urailng.'
Abolishment of 'the street car skip
stop system and extension of new
lines will be taken up at the next
meeting of the club.
South Side
Boy Watches Father Fight;
Court Takes Him in Charge
When South Side detectives an
swered a call of neighbors that J.u:k
Erskine and Jack Grit'tin were creat
ing a disturbance by lighting at 47.22
South Twentieth street, they found
Joseph Fullerton. 12, stepson of Grit
fin, witnessing the battle.
Jack and Jack were arrested, and
little Joe was given to the juvenilis
authorities when it was learned his
mother is in Sioux City.
Griflin was lined $15 and Erskine
$10 for intoxication and disturbing
the peace.
Three Motorists Fined
In Court on South Side
Three motorists were fined in South
Side police court yesterday.
R. E. Heilcman, fanner, living
near Council Bluffs, was fined $2.50
for speeding along Twenty-fourth
street to the stock yards.
M. Fagel, 2214 Willis avenue, ar
rected by Special Officer Oswald for
passing a street car on the wrong"
side, was fined $1.
And J. B. Kenny, 3009 South
Twenty-fourth street, was fined $5
for speeding.
South Side Brevities
For Sale Household furniture and piano.
S103 J. street. South 3693.
Illinois coal, $11. Howland Lumber la
Coal Co., Phone South 1614.
13c
Goods
GRAIN i
OFFICES AT ,
OMAHA, NEB.
LINCOLN, NEB.
HASTINGS, NEB.
CHICAGO, ILL.
SIOUX CITY, IA.
HOLDREGE, NEB.
GENEVA, NEB
DES MOINES, IA.
MILWAUKEE, WIS.
HAMBURG. IA.
KANSAS CITY, MO.
AM sf torn sSlem. sieest Kiflwi Clb
an assaMtttf wits sfliar
to srhrats utra,