THE BEE: OMAHA, TUESDAY, MARCH 22, 1921
9
A
)
Gotham Federal
Bank Changes lo
State Charter
Merger With Trust Institution
Typical of )Iethod, of Build
ing Up Financial Houses
Now in Progres.
By HOLLAND.
On March 8 Hie slumber of Na
tional banks in New York was de
creased by one, while on the other
hand, an additional state- bank came
into existence. This new state bank
v ill be merged on Apritl with a trust
institution. The incident illustrates
cne of the changes wheh have been
i.i progress for1 some time in the
t.ankng situation.
Snme years ago banks in New
York 'city began to enlarge their
rapitat, resources nd deposits by
means ofgiiergers with other banks.
In that way several ' banks were
built u(vfrom comparatively small
institutions until they gained a po
sition of influcr.ee and were at last
numbered among the most powerful
banks of the country.
That, however, "was only one de
velopment of modern banking. An
other now is shown by the action of
the Liberty National bank in re
turning its federal charter and ac
cepting in the place of that a char
ter from the state of New York.
Romantic History.
It is a somewhat romantic his
tory which is written by the record
of the Liberty National since its or
ganization, which was almost coin
cident in point of time with the or
i;:.niiation of the United States Steel
corporation. Presumably it repre
sents the disposition of. E-vC. Con
verse to take up a new vocation for
him. that of a banker. He had
gained a very large fortune when
the United States Steel corporation,
was organized, because that organ
isation took over as a subsidiary the
tube manufacturing industry with
which Mr. Converse's name and di
rection had been associ.ed most
favorably. , ...
Pom of tha New Tork banker of the
oldor gonaration were, doubtful about the
-spodlen.y of organising a new national
bank. But Mr. Converse, and those who
were associated with him did not under
take this new banking plan In th fog.
They knew where they could got bulne.
Thev w ere able to rail to' their assistance
several young men who had already -fixed
attention upon themselves by reason or
their efficiency and wise originality and
foresight while serving 1" subordinate,
banking positions. In that way Henry P.
Iiavlaon. then Just beglnlng his career, was
brought to' the Liberty bank and It waa
his association with that bank which in
spired In him the project which, resisted
in The Banker Trust institution.
Two Great Banks.
So also Seward Prosser, who la now
tanljlng In tha front rank of New York
bankers, and a llttla later, Thomas Coch.
ran, who la row one of the partnera m
the bouse of J. P. Morgan Co. Its In
crease In strength and Influence was rapid
ana at on tlma the prenumstion -wa that
within a few years It might secure a posi
tion among the flrat Six banks of New
York.
Instead of that, the Institution has. un
der a state charter, merged with the New
York Trust company and very likely the
nw Institution will often be spoken of
as atrongly allied with Che Morgan bank
ing Intif-ests. Three of the partners of the
.Morgan house, Henry P. Davison: Thomas
Cochran, and Junius Spencer Morgan 'have
been chosen trustees of the new beard.
The executive committee will oonsst of
Thomas Cochran who Is to be chairman.
. C. Converse and Henry P. Davison. Un
doubtedly this merger has been perfected
because of the greater opportunities for
profitable banking which, are to be found
In Institutions operating under state char
tere. These charters permit certarw Kinds,
of profitable, business to be carried on
which the National bank are prohibited
from doing.
This tendency Is well Illustrated' by tha
action of tha National City bank. For
it was announced within a day or two
after the merger of the Liberty 'arrd the
New York Trust Institution was perfected
that the National City bank w'as In nego
tiation.' which now Is practically complet
ed, for the purchase of a bank which la
operated under a state charter. Indirectly
heretofore tha National City has secured
control of banks both state and, national
through the purchase by the leading stock
holders of the City bank of a, majority
of the stock of other banks. Many times
reports have bean In circulation telling
of the purpose of the City bank to secure
ty merger other national banks;
Not The Stlllman Flan.
The late James Stlllman. whose
triumphs in bringing the City bank from a,
comparatively gmall position to the lead
ership of American banks, never favored
merger. HI conviction was strong that
a bank should grow In Influence, In re
source' and deposit not by any artificial
aid such as the merger. with it of ether
banks. To use hla own words, "It should
grow on It own momentum and manage
ment." When the Third National bank
found It Expedient to liquidate, .Mr.
Stlllman could have absorbed that In
stitution with the City bank. Instead of
doing that h caused hla bank to take
over the. machinery of liquidation of the
Third National and In that way the ap
peals were , fully released and payment
made to stockholders ln full.
Now the City bank has bought, or I
about to buy, state chartered Commercial
Exchange bank. But there Is to be no
merger. Instead, In all .probability, thl
state bank -will' be either absorbed by or
the control af the National City company,
which Is a subsidiary of the National
Cltv bank In the sense that the siock
ownership) la within the City bank'
i control or the control of individual who
are prominently Identified with the City
bank.
Kvidentlv the tmrehas of the Com
mercial Exchange bank, which is now'i
operating thre branch offices, represents
the Intense competition which Is now In
progress for certain forms of banking
business. That competition Is of Itself
a new development and it reaches many
of th IBveatment brokers of the United
State, causing not a little apprehension
that their own business may thereby be
impaired.
Postpone Gffodyear Meeting
Akron, 0., March 21. Announce
ment was made by the Goodyear
Tire and Rubber company that the
stockholders' meeting on re-financing
plans scheduled for tomorrow, agaii
. would be postponed.
New York Sugar.'
. New York. March 21. The local mar
ket for raw. sugar was unchanged with
the committee quoting 6 Ho for Cubas. cost
and freight, equal to .I7o for Centrifugal.
iThe day a business Included 8.200 tons of
old crop Cubas at Be cost and freight and
' 2.500 ton of new at iMo through th
committee, with no sales of outside sugars
reported.. The market for . refined is
quieter, and prices are unchanged t
SS.OO to II. IS for fine granulated.
New York Metal.
New Yrk. March 21. Copper Dull,
electrolytic, pet and March. 12312;
aecond Quarter, 12 13,
Iron Nomtnsl; No. 1 northern, 28.00c;
No. 2 northern, 27.06c; No. 2 southern,
25. 60 36.60c.
Tin Firm: epet and nearby, 28.60c; fu
tur. J.00i9 29.60c.
Antimony Spot. 6.80c. ' . .
Lead Dull: pot, 4.00e.
Zinc Quiet: East St. Louis delivery,
rot, 8.78ff4.85.
Chicago Prodocs,
Chicago. March 81 Butter Market la
higher; creamery extra. 46c: todard.
41c.
Egg Market lr: rciota. J8.62S
rases: first. 22c; ordinary, first. 19ff
2fcr at mark, cases Included, 21J21c.
London Metals.
London, March 91. Standard copper.
. 10s, i: electrolytic. 1T0. 10s; tin,
I15G, 5s. lead. 119; line. IZi.
Bar SllTer.
New York. iarch VI: Bar llvr. do
mestic. 9!: torelgn. 67c; Mexican
dollars. 4S. ?. '
Linseed Oil.
Duluth. March 2t. Llnsead on track
. end arrive. 21 II
' New York Csffes.
New York, .March 2. Coffee Rio No.
K- . 4c; futures, easy; May, 6.62o; 6ep
raber, 8 46c . '
THE GUMPS
MV OMr IS MV rATir- KIMQ TWE THELANlC Ut STUCK. IN rV MY CASTLE-
( THAT 0)6" Tfl vv, a V M30vTT0 ) ( CcPU, OF BLUE CHI ?S AND MY CASUC . VJ TWL AR . )
LAVJ6H- TO ONW L MSDKATt THE , ( SM KMt Nou - - fLOOR UP-
THAT MAWS T U.M OMt-ABOUT 7 0 : ' f V$ VoVK MOVE" C 100 IS THE KNU
UKS A CAsril vs TU 7 fAfiUE ' 0 mTS V . THE AStXT TE J&STtK-
VA THE TtViAV
Live Stock
Omaha, Vaxch 21.
Receipts were: Cattle Hogs Sheep
Estimate Monday... 4.400 6,700 12,000
Same day last week 9JSS.7 M94 16.S80
Same day 2 wk ago. 107043 11,19 13.643
Same day 3 wk ago. 6.496 10.374 16.79D
Same day year ago. 8.610 U,9 5,472
Receipt and disposition of live stock t
.5?.rn.n.nc
24 hours ending at 3 o clock p. m., March
21, i9i.
RECEIPTS CA.RS.
Cattle Hogs Sh'p H.M.
C. M. A- St
p
Missouri Pacific
t
Union Pacific 20
C. A- N. W., east 10
C. A X. VI'.. went.. 29
C, St. P., M. A O. 6
C, . B. A Q.. east. . . 1
C. B. A Q , west 101
C, R. I. A P.. east. 1
C R. 1. & P.. west. 7
Illinois Central '7
Chi. at. Western ... :!
C. M. A ft P 3
12
I
41
4
IS
31
I
Total Receipts ...161. 98 65 1
I DISPOSITION HE AD.
Cattle Hogs Sheep.
Morris A Co. 599 822 1.756
Swift A Co 656 669 3.101
Cudahy Pack. Co.. 466 859 3. 778
Armour A Co 476 1,007 2,726
J W. Murphy .,' 2.617
Did Pack. Co S04 912 807
Lincoln Tack. Co.. 96
So. Omaha Pack... 3
Hlgglna Pack. Co 65
Hoffman Bros. ... 16
John Roth A Sons. 29
Maver. A Vail .... 11
Wilson A Co 160
F. P. Lewis 44
Hunt. A Oliver ... 16 ......
J. B. Root A Co. . . 1")
J. H. Bulla '.. 77
R. M. Burruss A Co. 2
Rosenstock Bros. . . 604
F. O. Kellogg 112
Worth. Degen . . 3
Kills A Co 82
Sullivan Bros 7
A. Rothschild .... 25
E. Q. Christie 46
John Harvey 397
Jensen A Lund. .. 87 '
Dennis A Francis . 26 ..,
Cheek A Krebs 10 i.
Omaha Pack. Co. . It
Midwest Pack. Co.. 9
Smiley I
Motmhnn 2i
Other Buyers 8S1 1,696
Total ..5.084 .S09 12,364
Cattle A very light Monday supply of
cattle showed up this morning, only 4.400
being reported in. Fully a third of those
were stockers and feeders and as there
was a fairly good demand for killing cat
tle everything In th fat line sold readily
at fully 25c higher prices. - There were
no choice steer here, the best on sale
bringing 29.25. Some prim heifers
reached , $8.50. Efforts to buy stockers
Snd feeder lower failed, the market hold
ing fully steady In spite ot there being a
ttbtral run: best feeders reached 28.50
$t.80.
, Quotations on cattle: Good to choice
beeves, $s.75$9.40; fair to good beeves.
$8.008.75; common to fair beeves, 27.00$)
8.00: good to choice yearlings, 28.50(ff9.00:
fair to good yearlings. 27.7Diji8.50: common
to fair yearlings. $6. 757. 75: choice to
prime heifers. $7.508.00; good to choice
heifers. $6.50ig7.60; choice to prime cows,
26.76 7.25: good to choice cows. 26. 00
6.75: fair to good cows, 26. 2 6 6.00; com
mon to fair cows. ' 23. 00!S4."i: good to
choice feeders. $8.25ig!8.76: fair to good
feeders, 27. 75SS.75; common to fair feed
ers, 27.00 Si 7.60 : good to' cholc atocker.
22.00(92.75; fair to good stockera, 27.50
8.00; common to fair stockers, 26.907.!5;
stock heifers, $5.006 6.62: stock cows.
$4.5095.50; stock calves, 86.0007.75; veal
calves, $8.00(9.50; bulls, stags, etc., $4.25
if 7.00.
BEEF STEERS.
. Av. Pr. No. Av
. .1248 8 SS 7 124!
.,1310 8 85 17. 1425
..1095 00
STEERS AND HEIFERS
.. 740 65 15 809
No.
17..
16..
32..
Pr.
8 60
8 90
14...
30...
12...
8 00
8 66
704 8 60 25. .....1044
.1170
t 25
TEARLINGS.
23 903 2 25
COWS.
12 1125 6 25 7 1072 6
HEIFERS.
12 958 S 75 8 $21
9 63$ T 75 27 1007
STOCKERS AND FEEDERS.
11 711 7 25 16 79J
71 720 8 75
CALVES.
4 305 8 66 4 167
7 25
2 50
7 75
9 00
Hogs The week opens out with a mod
erate run of hogs and a good advance
In prices. With 6,700 head an sale ship
pers bought light and light butcher hogB
during early rounda at prices fully a quar
ter higher. Packers followed this advance
somewhat reluctantly Snd most of the
receipts sold before 10 o'clock, Best light
hogs made a top of $10.60 and bulk of the
supply moved at $9.7510.25.
HOGS.
No. Av. Sh. Pr. No. Av. Sh. Pr.
58. .313 110 9 75 47. .275 ... 9 85
64. .280 ... 9 95 67. .292 70 10 00
71. .237 ... 10 10 61. .247 110 10 15
71. .353 180 10 20 51. .186 ... 10 25
75. .219 70 10 30 77. .219 ... 10 35
83. .216 ... 10 50
Sheep Something Ilk 13,000 sheep snd
lambs were received today and trade was
rather slow with a lowers tendency to
heavy lambs. Light and handy grades
wer 'ateady or very nearly so. while
other sold at decline of about 96c. Fat
sheep wera generally steady. Good fat
lamb moved around 89.509.78 with the
heavy weights at $8 80 and less. Easter
lajjlb, about 45-pound springers, sold
at $11 0013.00. A few good fat wes
brought $5.85. There was very little de
mand Cor feeding or shearing stock and
values in this branch of the trade were
nominal.
Quotations on sheep: Best fat lambs.
$9.5iVi? 9.90: medium to plain lam. $8.75
G7 9-.25; plain and heavy lambs, $7.508.50;
shorn iambs, $8.0038.75; yearlings, 27.50
.ffS.50; aged wethers. $6.00T6.75; good
to choice ewes. 2S.6A J6 .00; fair to good
ewes, $5.0O5.5O; cull and csnor ewes,
$2.00!?S.25; shearing lambs. $8.0608.75.
FAT LAMBS.
No. Ar. Pr. No. A v. -Pr.
100 fed. . .77 25
183 fed.
1 15
Chicago Live Stock,
Chicago. March 21. Cattle Receipts.
',6.000; beef steer, generally steady;
heavy weight very low; top. 810.40; bulk,
S. J09.75; butcher she stock, strong to
25c higher: bulk, 85.75i$7.76; canners and
cutters scarce, largely $3 0004 60; bulla,
(eady; bulk, $6.2698.25; veal calve. $0o
lower; bulk to packers. $9.6016.60;
looker and feeders, steady.
Hog Reaetpt. 26,006; slow, mostly
steady to 2Sc higher; some early 28c ta
40c up; hog weighing 196 pounds and
down closed ateady with day' average,
other weak with advance lost: holdover
liberal: top. $10.75 early, bulk 20 pounds
down, $11,062X1180; bulk 220 pound op.
$5.!5910.60: pig full 6O0 higher; bulk.
20 to 120-pound pigs, Jl. 00 11.6".
Sheep and Lambs Receipt. 17,000;
killing classes 2c to 60o higher; ten,
810.76: fj-poundj Colorado lambs, 210.66:
80-pound shorn lambs. 2 86: bulk fat
wooled lambs, 29.5410.60; ion. pound
wooled yearling. 28.35; 106-pound shern
yearlings and two'. $6.75; No choir
btndy ewes sold: bulk fat wooled ewe,
$5.25 J 8.00.
n
St. .Tnerph I.lv Stock.
St. Joseph. March 21 Hogs Rer ill.
4 001 head; market 25 fflOe higher: top,
$10 60: bulk ot ale $9.75 S 10 55.
Cattle Receipts. $.300 had: market la
steady to strong; steers. $7.001MO;
rnws and heifers. $3.089 25; calves, $6.86
9,00. ' 9
Sheep Receipt. 8.000 head; market Is
steady to 25c' higher; lamb. 87.6009.50;
ewes, $5. 6696.69.
Market, .Financial and Industrial News of the Day
Financial
By ALEXANDER DANA NOYES.
f'hirago Tribune-Omaha Bee Leased M ire.
Xew York, March 21. For the
first time since January 18, call
on the stock exchange to-
I J . . . , . n
; day loaned all day below 7 pe'
j cen ( J,as been as high as 9 per
:., ;t,i.; ,r;,l o,l
I vviu ill nil, luivi i viiing v-iiuu, anu
has repeatedly held at 8 per cent
all day. Under ordinary circum
stances it would be said that lower
ing of fates at the opening of th.:
present week was entirely logical.
'he money market is not only con-
fronted with the strongest position
ot the Icctrral reserve since the au -
lumii of hoth at New Ynrk atirl
tl.e federal system as a whole, but
resources in demand is probably in
'he aggregate smaller than in a
number of years.
The day's transactions on the stock
exchange merely repeated a familiar story.
Professional speculators for the decline
sold stock which they Imagined would
not be supported, while .buying back
othors that they had sold last week. The
result, as has happened on so many re
cent days, was a fall In some shares,
while others were rising; .the day's
changes running in many cases' to a point
or more both In advances and in declines.
Foreign exchange was subject today to
the same kind of speculative Influence.
The abrupt downward reaction of rats
on Italy was plainly a matter of "profit
taking" by recent speculators fpr the
rise: though evidence seems to be accu
mulating of a really Improved economic
position In that country. Recovery in
German marks (which, however, was not
sustained) was naturally ascribed to the
Silestan plebiscite.
The revised figure on this country's
production of cotton during the season
past, a given out today by the census
bureau, threw some additional light on
the Industry's extraordinary situation.
As against the agriculture department's
Docember estimate of 12.97.000 bales
'which the cotton trade then con
sidered high) the bureau estimates
on the bails of actual ginnlngH no
less than 13,865.754. -This exceeds by
the 16.194.930 bales of 1814. when the
price fell to 7'ic per pound at the close
of the year and when the south was for
a time apparently In as great distress
a now. , '
New York Cotton.
New York, March St. The New York
cotton market opened firm at an advance
ot 22 to 81 points on reports that Ger
many was to retain Upper Silesia.' good
cables and better advices from Manchester
Reactions occurred after the start, but the
undertone remained steady and the list
was still about 20 points over Saturday's
close.
Price held steady, 16 to 20 points above
Saturday closing quotations around noon.
London cable reported that British busi
ness wag restricted by political uncer
tainties, and the approach of th Easter
adjournment probably had a,' restricting
effect
Trading remained very quiet in the aft
ernoon, within 13 points of Saturday's
closing.
New York Money.
New York. March 21. Prim Mercan
tile Paper 7if7Hc.
Exchange Steady.
Sterling Demand, $3.91; cables,
$?.92.
Francs Demand, 6.97c: cables, 6.99c.
Belgian Francs Demand, 7.29c; cables.
7.3ic.
Guilders Demand, S4.42c: cables. 34.62c
Llrs Demand, S.94c; cables. 3.96c.
Marks Demand. 1.62c; csbles, 1.63c.
Greece Demand, 7.48c
Argentines-Demand, 34.15c.
Brazilian Demand. 16.12c.
Time loans easier; 60 days, 90 days and
six month. 67 per cent.
Call Money Easier; high, 6: low. 8:
ruling rate. 6; closing bid, 6; offered at
6.
New York General.
New York. March' 21 Flour Firm:
fprlng patent and Kansas straights, 8.85
S8.75: winter straights, 88.00f)8.50.
Whea Spot, barely steady; No. 3 hard,
$1.71. and No. 1 Manitoba, $1.87 c. i. .
track. New Tork, and No. 2 mixed dur
um, $1.66 c. 1. f. to arrive.
Corn Spot, easy; No. 8 yellow, 83c;
No. $ white. 84o. and No. 2 mixed. 83o
c. 1. f. New York. 10-day shipments.
Oats Spot, barely steady; No. 1 white,
E4o; feed, easy; city bran, $83.60, and
western, $82.00, In 100-pound sacks.
Pork Quiet; meas, 330.00&31.OO; fam
ily. 338.00 S' 40.00.
Lard Eaay; mlddlewest, $12.20012.30,
nominal.
Kansas City Live Stork.
lttnsaa City. March 21 (V. '8. Bureau
of Markets.) Cattle Receipts. 16.000
head: beef steers mostly I625e higher;
eom UP more; quality poor; top, $8.60;
bulk, $8. 2698.75; she stock stronger to
26o nlgher: choice cows. 87.00S7.25; good
betters, $7.7598.35; canners and calve
steady; best vealers, $8.50; bull atrong;
stockers and feeders steady to atrong.
Hogs Receipta. 5.000 head: open H9
40c higher: close. 5675c hlher: spots
up more; top. $16.60: bulk. $9.60ig 10.50;
pigs. 25 1; 50c higher; good and choice fat
pigs, $11.001156.
Sheep Receipt. 16.566 head: market It
steady; ewes, 86.86; iambs, uneven: most
ly 25c higher: top, 39.70.
Sioux City TJts Stock.
Sioux City. la.. March 21. Cattle Re
ceipt, 1.906 head: market steady
strong; fed steers and yearlings. 86.66
2J9.60; fat cows and heifers, 35.0098. 00;
canners, $2.2S'4 00; veals, 86.00(9 9.50;
fesders. 28.00$ 8. 00; calves, $5.00 7.75;
feeding mp and heifers ,$4.006.60;
stockers. SS.nO'f 7.80.
Hogs Receipts, t.700 head: market. 10
to 4'ie higher; light. 810O02T10.4O; mixed.
19.75910.00; heavy, $9.0009.60; bulk,
$9.53 ft 16.25. '
Sheep Receipts. 160 head; market nom
inal Tw York Produce. ,
New York. March 21 Butter Market
firm; creamery higher than extras, 46 $
44c: creamery, extras, 4646c; cream
ery firsts. 4144e.
Eggs Market weak: fresh gathered eg
tras. first. 274433c: firsts, 25270.
Cheese Msrket easier; state, whole
milk. fist, held. Specials. 27 eg 29c; state,
whol milk, fists, fresh, special, 26
Live Poultry Dull; fowls, 86ffttc; oth.
ers. unquoted.
rrsed Firm: westsrn chickens, boxes,
"255c: fowl, 30$40e; old cocks, 25
28c; turkeys, 66 T 62c.
Dried Fruit.
New Tork, March $1. Evaporated Ap
pl' Firm; CtllfOrnlaa, 608c; state, 8
$Jle.
Prunes Easy: Callfornlas. 4t17c:
Oregon. tf!c.
ApricotsSteady; choice, 23e: extra
choice. 27c: fancy. 21c.
Peache Steady: tandard. I4tc; choice.
no: fancy, io :ic.
Kllrs Firm: loose muFcstels. - 24
c: cholc to fancy seeded, 24ff25c;
seedless, 25 027c.
M. Loul EgM.
St. 'Leul. Mo, March 21. The whol .
sale prices of bat egs:s was 19 cents a
deien here today, a drop of 9 cent In
a week.
A VACANT
New York Quotations
Range of prices of the leading stocka
furnished by Logan A Bryan, Peters Trust
building.
RAILS.
High .Low Close eat.
. 61 T9i 80 81
. 32 'i 32 Vi 35' 33
.113'. 112 113- 113VJ
. 70", 69 69 70s
. 58H, 68 'j r,8'i 69
. 1 2 1 1 2 12 12
. 74i 73'i 73H 74
A.. T. AS. T
Balti. AO
t anad. Pac
N. Y. Central
dies. A Ohio....
Krie R. R
Ot. North.. pM. . .
t 'hi. Ot. Western .
Mo Kan. A Tex.
Knn. City S.nithn.
Missouri Pacific.
N. Y., N. H. & H.
Northern Pac. Ry
Chi. A N. W
Pennsyl. R. R
Readlns Co
c.. it. r. a P
22S
16
16
78Vi
22 &a
is
16
17
15H 15s
6'i
7
63
6314
3o'4 34'i 364
3 5U
68,
T4'4
20 i
25
68 66' 67
5N 24 r.
24
Southern Pac. in
74
southern Railway. 21
j rnionPaoffic '.'.T'ik 4 1
20 20
24 Zi
16 116H 118
.""bah
! STEELS.
IK
7
I Am. Car A Fdry.,122 122 123 122i
1 Allls-Chalm. Mf. . 36 36!i 36'i 36
j Am. Loco. Co 87 66 86 87
' I'td. Alloy Steel .. 31 31 31 32
i Baldwin Loo. Wks. 8R 86 87 . S
Ilth. Steel Corp.. 67 56 66 57
I'nicible Steel Co. 01 88 88 30
m. Steel Fdrles.. 30 29V' 29
l.n.'kawanna. Steel. 53 '. 62 62 53
. iilvule Stl. A O. 30 29 29 i)0
I'rewwl Steel Car, . . 884
i Rep. Iron A Steel. 67 65, 66 67
Railway Steel Ppg. 87 87 87
Sloss-Shef. S. A I. 42 42 42
United States Steel 81 80 80 81
COPPERS.
Anaconda Cop. M . 38 S7 37 S7;
Am. Smlt. A Rfg.. 40 39 39 40 ;
Butte A Sup. Mln. 13 12U 12'
Chile Copper Co... 10 10 10', 10
Chlno .Copper Co.. 20 20 20 20-iJ
Insplr. Cons. Cop. S3 32 32 3
Kennecott Copper. 18 18 18 18
Miami Copper Co. 17 17 17 17
Nov. Cons. Copper 10 9 9 19
Ray Cons. Cop 12 11 12
Utah Copper Co... 49 48 4S 48
INDUSTRIALS.
Am. Beet Sugar... 43 42 4!
43
34
43
80
100
A.. G. A W. I. S. S. 34 32 33
Am. Internat. Cor. 45k .48 44
Am. Sum. Tub R7i
Am. Tel A Tel 100
Am. 7... I.ii. A Sill. 9
79
79
99 100
8 4i 9
13 13 14
3 , 3 3
Brook. Rap. Tr. ..
Beth. -Mii.
14
3
Am. Can. Co.
Chandler M.
30
Cr.. 79
29
76
40
29 29
77
41
80
40
Central. Leather
41
Cuba C. Sua.
24
24
4
"
59
Ckl. Pekir. Coi'D
f.l Pot 42 41 41 4
Corn Pro. Rfg ... 74 73 73 74
Nat.. Enam 0 60 60 60
Flsk Rubber Co... 15i 14 15 14
Gen.'Elec 137 136 135 137
Gaston Wms.-Wg. 1 1H 1H SH
Oen. Ms. Co 13 13 13 18
Goodrich Co 38 37 87 37
Am Hlde-Lthr .. 10 9 10 9
haskell A Brkr .
U. S. Ind. Al. ...
Jnt. Nickel
Int. Paper
AJax Jlubter ...
Kellg-Sprlngfleld
Keystone Tire . ,
It.t. Mer. aMr. ..
. , DDH
71 68 68 69
15 14 14 15
58 67 57 58
83 33 33 ....
43 40 41 40
16V. 15 15 . 15
. 13
. . 5
..147 144 144 147
Maxwell Motor
Mexican Pet.
Middle Statv-s Oil. 13
12i 13
13
Pure Oil Cor. S3
u-tllv-Overland '.. 774
32 82 i
S3
7
10
7
Pierce Oil Corp...'10i 10 16
ta..im P T . 71 70 70
72
Pierre-Arrow Mot.. 33 31 81 21 H
Roval Dutch 63 61 63 63
U. S. Rubber Co.. 73 70 72
m sirr Rfr... 94 93 94
71
94
23
78
35
Sinclair Oil A Rfg. 23 33' 33J
Sears-Roebuck .... 78 77 7
Stromsberg Carb... 36 34 34
70 68 69 69
gtudeoaiter i-orp. . iv
Tob. Prod. Co 48
4l 41
Transcon. Oil .... 8 ?i
Tvn Co 42
8U 8
41 41
8V4
41
28
V. S. Fd. Pr. Corfr 23 22
3?
V. S. S. R. A M... 3i
30
30
Whlta Motor Co... 42
40
41 40
lt-t v. . Mfr . 67 47
47 48
Am. Woolen CO... 68
r Total sales, 765.006.
Money Close, 6.
Marks Close, .0168; Saturday close,
.0163. , -
Sterling Close. 8.51; Saturday close,
3.81. ,
Bonds.
The following quotations ar furnished
by Logan A Bryan, reiera lrusi ounums.
Am. Smelt. A Rfg. 6s...
Am. Tel. Col. 6a.' 1946..
Armour 4s. 1939
B. A O. Ref. 5s. 1995. ..
t? & n rvt 4ii. 1933..
r.t r:. T'nt km. 1937 :'. 84SD 85
C, M. & St. P. Gen. 4s. 1932 66 6oi
C M. A St. P. Gen, A Ret.
4s, 2014 60 60
C R. I. P. Ref. 4s, 1934.... 67 67
r. A R. G. Col. 4s. 1936...... 63f 64
Oa. Nor. 4s. 1961 79 83
111. Central Joint 5s. 1933.... 74 75
Mo. Pac. Ref. 5s, 1923 89 (if 89
Mo. Pac. Ref. 6s, 1926 83 86
Mo. Pac. Gen. 6s. 1975 77
RIO Grande W. 1st 4. 1939... 63
St. L. A S. F. Gen.. 6s, 1927.. 86
St. L, A S. F. P. L. 4s, 1950. 60
St. L. A S. F. Adj. . 1955... 65
St. L. A S. F. Inc. 6. I960.. 47
S. T. A S. W. Inter. 5. 1953.. 62
63
90
61
66
47
62
Wilson 6s, 1941.
88$ 90
74 74
60 50
37 37
73 78
64 54
64 9 54
64Q 66
K. C. Sou. 6s, 1959...
C. G. W. 4s. 1969,...
Sea Bal 4s. 1989
Colo. Southern 4s,
C. A O. 6s
I. R. T. 5s
Hud. A Man. Ref. 6.
1935.
New York Bonds.
The" following quotations are furnished
by Logan A Bryan, Peters Trust building:
Beth. Steel Ref. 5s
8061
Gnt. Pac. 1st 4s
C, B. A Q. Jt. 4s
C. M. A St. p. Oen. 4.
a A N. W. Gen. 4s
L. A N. U. 4
New York Ry. 4
Nor. Pac. P. L. 4s
Reading Gen. 4s
U. P. 1st 4s
U. P. 1st Fief. 4s
S. P. Cv. 5s
S. P. Cv. 4a
Penrr. Con. 4s
Penn. Gen. 4
C. A O. Con. 5a
Ore. S. L. Ref. 4s
.. 7272ii
.. 9798
.. 65',i66
.. 74 76
.. 81 bid
.. 17JT23
.. 75 76
.. 81 081
.. 80 81
.. 75f75
.. 92&94
.. 78r78
.. SS387
.. 78g 78
.. 82'382,i
.. 7979
Chicago Stork.
The following quotations are furnished by
Logan A Bryan:
Armour A Co . pfd 91
Armour Leather Co., com... . 13
Armour Leather Co.. pfd 65
Commonwealth Edlsnu Co..,
Cudahy Packing Co.. com...,
Continental Motors
Llbby. McNeil A Llbby ,
Montgomery Ward. Co ,
National Leather
Reo Motor Car Co
Swift A CV ,
Swift International
Union Carbide A Carbon Co
10(
68
, 6
, 10
!!s$g
.... . 21
101
, 26
83
Liberty Bond Fries.
New York. March 31. Price of Liberty
bond at noon were: 3s, 90.46; 1st 4s,
87.00 bid; second 4a, 88.80 bid; first 4 'is.
87.26: second 4t. 84.94: third 4 'is. 90.(9;
fourth 4. 87.10; Victory 8s. 97.12 bid;
Victory 4. 97.10.
Liberty bonds closed: 3s. 90 44; first
4s. 87.00 bid; second-4., 86 78: first 4i.s,
i 7 10; scmid 4.s. 86.90; third 4i,s, 90. li;
: fourth 4',s. 8, 14; Victory 3?4s, 97 28;
Victory 4s. 97.30.
( hlrngo Potalors.
Chicago. March 21. Potatoes Market
weak: receipts. 10ft cars; northern white,
unrkcd and Milk. H.onsS LIB t : Minne
sota Lilly duos, tacWt H.2& cwL
. 81 81
l. 79S 80
. 671 6S
. 66 66
THRONE
Omaha Grain
. March 21, 1921.
Moderate to light arrivals of grain
were on hand today, corn showing
considerably lighter than last Mon
day. Wheat sold readily at an ad
vance of 3 to 4 cents, generally 4
cents up. Corn ranged unchanged to
1 cents up. the bulk about V to
1 cent advance. Oats were !4 to -4
cent up, generally i cent above Sat
urday. Rye and barley were
stronger. The United States visible
supply- of wheat decreased 1,820,000
bushels the past week; corn increased
2,87(T,00O bushels and oats increased
560,000 bushels.
Russel's New reported a million
bushels wheat sold for export to the
United Kingdom today, also three
cargoes to the continent. Leading
export houses who sold wheat tneir
option Argetina or American were
ordered to fill sales with American
wheat. Great Britain is again on a
wheat importing basis and Germany
surprisingly near it, foreign market
specialists of the bureau of markets
announce, savs a Washington wire.
Holland and Belgium, the message
states, are taking half of their pre
war requirements.
WHEAT.
No. I hard, 1 2-5 cars, $t.51.
NO. 2 hard, 4 car, $1.48: 3 cars, $1.47.
No. 3 hard. 3-5 car. $1.47 (heavy);
1 car, $1.46 (dark, smutty); 1 car, $1.45;
1 car, $1.43 (smutty); 1 car, $1.41 (smut
ty) No. 4 herd, 1 car. $1.43 (heavy); 1
car. $1.42; 1 car, $1.39 (smutty).
No. 6 hard 2 cars. 31.38.
No. 1 soft white, 1 car. 31.49.
Sample spring. 1 car. 31.12 dark north
ern); 1 car, $1.10 (northern).
CORN.
No. 2 white, 2 cars, E4c.
No. 3 white, 3 cars, 53 c.
. No. 4 white. 1 car, 53c (ry); 1 car,
:2c.
No. t yellow, 1 car, 86c.
No. 2 vellow, 1 car, 54c; 8 cars. 64c.
No. 2 yellow. 1 car. 63c: 3 cars. 63c.
No. 4 yellow. 5 cars, 61c; 6 cars, olc.
vo. 2 "mixed-, 1 car. 63c.
" No. 3 mixed, 1 car, 62c (near white);
. cn. a K1 Ln- 1 oar M It c
i i car, oiu, v7v, -
(shippers' weights).
NO. 4 mixed, 1 car, osc tnear wauej.
1 car, 61 c: 1 car. 60c.
OATS.
No. 2 white. 1 car. 39c: $ cars,.39c.
No. 3 white, 5 cars. 39c.
No. 4 vhtte, 3 cars. 38 Sc.
rtb:
No. 3, 2-6 car. 31 .83 '
BARLEY. .
No. 3. 2 cars, 69c.
No. 4. 1 car, 64c.
CHICAGO CARLOT RECF.tPTS
Today Wk. Ago Yr. Ago
Wheat 4 64 14
Corn 228 29 ISO
Oat . .1 71 88 61
KANSAS CITY CARLOT RECEIPT?.
Today Wk. Ago Jr. Abo
Wheat ;.378 235 i30
Corn 105 . 157 - 79
Oats I 20 19
ST. LOUIS CARLOT RECEIPTS. i
Today Wk. Ago Yr. Ago
Wheat 197 161 71
Corn 141 168 151
Oats 57 110 63
NORTHWESTERN CARLOT RECEIPTS
OF WHEAT.
Today Wk. Ago Yr. AtfO
Minneapolis : 231 S07 458
Duluth 36 53 IS
Total 267 360 4T1
Winnipeg 257 29l 1SS
PRIMARY RECEIPTS AND SHIPMENTS.
Receipts
Today Year Ago
Wheat
Corn
Oats
Shipments
Wheat ..1.1S7.000 1,106,600
..1,826.000 1,010.600
.. 781,000 f.56.600
.. 635,000
5i4,0fl0
402,000
62,000
Corn
Oata
750,000
148.000
EXPORT CLEARANCES.
?'oday Year Ago
22,000 660.000
301,000
10.600
Wheat '
Corn
Oats
OMAHA RECEIPTS AND SHIPMENTS
(BUS.)
Receipts
Wheat
Corn
Oat
Rye.
Barley
Shipments
Wheat Corn
Oat
Rye
Barley
Today Wk. Ago Yr. Ago
..45
..61
..18
.. 5
.. 3
.".9 25
98 82
24 SO
2 8
1
.11 19
49 57
9 , 13
2 ' 6
1
.72
.37
.
Minneapolis Grain.
Minneapolis. March 21. Flour, 15 to
20c lower. In car load lots, family pat
ents quoted at 38.65 a barrel In 98-pound
cotton sacks.
Bran 823.00.
Wheat receipts. 231 .caraeompared with
468 car a jear ago. Cash No. 1 northern,
$1.6O01.68; March, $1.36; May,
t.86.
Corn No. 3 yellow, 6061c.
Oats No. 8 white. 3585c.
Barley 46(S66c.
Rye No. 2. 31.381.89.
Flax No. 1. 21.69 ifl) 1.72.
I. S. Visible Supply.
Today Week Abo Year Abo
Wheat
Corn ,
Oat ,
Rye .
.25.579.000 24. 399.010 47.067,000
.29,847,000 26.977,000 3.358,806
.34,907,000 34,345.000 9.825,000
. 1. 614.000 1.669.000 19.769,000
. 2.110.006 2.332.000 8.646.010
Barley
Private Argentine cable y 606.000
tons of wheat sold export; so far
3.006,000 ton unsold; exportable aurplus,
97.000.000 or 23.000.060 less than official
estimate.
Kansas Cltv Araln.
Kan.a City. March 21,-Wheat March,
SI 46- Mnv t
' l.ao'.
lorn .May. fcS'Ac. July. e4se; Sep-
tomber, 62'ic.
fit. Louis Grain.
ft. Louis, March 21. Wheat March.
II. 0: May. 11.414.
Corn May, S4 054o; July. 8!e.
Oats May. 41c bid: July. 43 4io.
Omaha ' Hay Market. ,
Hay Upland pratrie: No. 1. 1l.eg
12.60; No. 2, 19.00311.00; No. S, 47.00
S.80. Midland: No. 1. S10.11.B0: No.
:. 18.606,10.60. Lowland: No. 1, SMOff
.0v; No. S. SLOOPS .
Alfalfa Choice, : OC'JSI.M; No. 1.
117. on 19.00; standard. $U OO1.00; No.
2. H.KOVll.nO; No. S, S7.00M.
Straw Oat. $3.00 39.00; wheat. S7.80$
8.00.
Pry Goods.
Nsw Tork. March !1. Pries named on
fall dres glngbgra today by one con.
rsrn . (America, Brown and company)
either continued prlng value, or howed
a alight sdvsnc. du to ths wall sold
position of mills snd th continued activt.
ty of thes clothe tn rota.il ohannels.
Print cloth were s lide higher rn th
base of 74c for 62x7l. Tern continued
utet. Burlap quiet and easy; spot Sim
firm snd dree goods, steady.
Kansas City l'rorlur.
Knea City. March 21. tggs lc low
er: firsts, lie: second. He.
Butter Marl(t unchanged; crmmery,
46": packing, loc.
Poultry Marker unchsngfl: hens, 2o;
broiler, 6c; prlnt, 4c; roostvra. IS tf
:;i.
Drawn
Chicago Grain
By CHARLES D. MICHAELS.
Chicago Trlhune-Omuha Bee Leased Wire.
Chicago. March 21. Action of the
grain markets today was unsatisfac
tory to interests on both sides at
times. An early bulge was in a Pleas
ure due to . buying, in explanation
of export business in wheat being
large and of buying to remove
hedges on some ot the gram report
ed damaged through the explosion
of the Northwestern elevator at
South Chicago, operated by, the Ar
mour Grain Co. So far as known
there was little damage or no dis
turbed hedges, as only 500,000 hush
els of the grain is said to have
been damaged through the splitting
of 15 storage tanks. Export busi
ness was 3.400,000 bushels of wheat,
fully confirming expectations of
early buyers. Before they had an
opportunity to turn, the markets
collapsed, "dajrlining fast and clos
ing at the lowest on the present
downturn, with the lowest of the
season made for May oats. At the
close wheat was l-4c higher for
March and 3-8c lower for May, Corn
was off 3-47-8c; oats, l-2c; rye, lc
higher on May to l-4c lower on
July and barley unchanged.
The wheat market performed the same
as It did a week ago when 4,000,000 bush
els was taken for export. Today, there
was nearly a much export hualness us
a week ago and a good bulge followed
by a bad break. No change wa noticeable
in the tcash situation. Export premium
were better with 23. to 24c over Chicago
for May shipment ?t the gulf. The ex
port sales were of Manitoba and the
gulf wheat. Milling trade i taking a
little at this time and there Is no presjjuru
of cash wheat at any market, with cash
prices higher and arrlvala less than a wee!:
ago and slightly In excess of last yearr.
Crop news was favorable with light rains
in western and central Kansas.
Locals Sell Corn.
Corn met heavy telling by local Inter
ests a,nd declined 2 3-c evfter an advance
of 1 c. The low point was 65 l-2c or
within lea than . 2c of the lowest of tlia
season. Buying support was poor and the
break in wheat had s, depressing effect.
Stocks contlpue to Increase, despite re.
Uuced arrivals anU the local supply enlarg
ing 1,560,000 bushel to 12,986,000 bushels.
Oats had support early w-th lc advanco
which was lost by a break of 2o and a
close on a rally due to profit taking on
previous sales and against bids. May soi l
the lowest of the season. 40 1-8. Local
traders were the beet seller. The) break
In corn had a depressing effect. Sep
tember was bought and July sold at l-4u
difference. Cash sale 76.000 bushel. Lo
cal stocks are 13,162,000 bushel.
Seaboard house bought ry and reported
100,000 bushsl sold fer export al Kw York,
Local traders sold July which declined
while May advanced.
Pit Note.
March wheat was tight on cattcred
buying and advanced to 137 1-4 on filling
of a few orders Jt Jeached 12o over
Ma.y which brought out) selling pressuro
for It and May in larger volume from tha
leading Interest who hav been the lead
era on a)4" hard spots. It forced March
off to 163 or 10c over May while May
dropped from 142 1-2 to 141 1-4. The,
collapse all cam Inside of the last hour
despite the big export business, and tho
finish waa within 1-4 t 1-Jc of th bot
tom. Export houses were large buyer of fu
tures at th tart on 1st break, but failed
to hold the market. Local stocks ncrain,l
751,000 bush, against 32,000 bushel for the
ween wwiie tne vismie decreased i.sjo.ooo
bushel against 1,647,000 bushel last year,'
the total being 34,679,006 bushel igalBM
47.067.000 bushel last year.
Premium on No. 2 hard wlnUr here
were somewhat easier at 24c over the
March while other kind were about un
changed. Receipts 86 cars. At St. Louis
No. 2 red was offered out of store at 15i)
or four cents lower than the luslde flgur
on Saturday. Choice No. 1 red, testing
60 pounds sold there at 163 on track. Cash
prices at St. Loula Were unchanged to 8c
lower while Kansas City was 2f 6c ami
Omaha 4$6a higher. Premium at Mln
neapoll were unchanged to 3c higher with
choice leading.
CHICAGO CLOSING PRICES.
By Updike Grain Co.. Doug. 2627. Mar. 19.
Art. I Open. I High. I Low. Close. ISafd'y
Wht.
Mch.
May
Rye
May
July
Corn
May
July
Sept.
Oats
Sept.
Pork
May
Lard
May
July
Ribs
May
Julv
1.63 1.67 1.52 1.52 1.62
I 1.43! 1.46 1.41 1.42 1.42
1.34V! 1.39' 1.34 1.35 1.34
l.UV LIS i 1.13U' l.JS't 1.13'i
67 I 67: ;.-; S 66.,
70l 70i S6l 08 68
71H! 72! 70, 70 71
41' 42 j 0i 40 41 i
43! 43 42 42 42 1
43 43 42 43'
21.00 121.00 20.90 20.90 21.00
12.00 13.00 11.80 ll.jo n.95
13 2.3-0 12.87 12.15 13.15 12.27
I11.60 11.60 11.47 11.47 11.60
111.90 111.96 111. 95 11.65 11.(10
-V York Coffee.
New Tork. March 21. The market for
roffeo future n eaaier lodav. Tb re
covery of about 1 cent a pounij from th
low record of last Wednetday had v.
dently lft th market In an eair tech
nical position at tha elo of laat wk.
and reports of an easier turn in th.
market at Santo led to considerable real- i
Ulng or. liquidation during today trad- I
Ing.
The opening was 3 to S tiolnta lowar.
f" 5.,'?'!; ,3,3 t0 !6 ,po,1I,, ,b'
!I0W Saturday cloeing figures, during tlr1 ,
.fl.rnnrtn with r- ..MiM. . r. J .
Sl":vv;i -"."
o.-VJimiiurr at biasing prices 'ere :
about th low!, of th day. showing net
losses of Si to SS points.
Closing; bids: Marcjj. l.STe: May. S 2c;
July. S.OOc; Septembsr, 6.40c; October,
J.55C; December, S.SOc; Januwy. S.SIc.
Spot coffe wt reported in moierat
demand at So for Bio 7s and 8Vi$Hc for
Santos 4s.
Turpentine, and 1toln.
Savsnnah, Oa March 11. Turpntln
Dull; 60; no !; receipts. S3 barrels,
shipment, lit barrel; atock, 6.44S bar
rels. Ttoln Dull; no sale: rclpt, JO,
task; shipment. 6 cask; stock, .
S60 casks.
Quote: A. a K. F. O. H. I.. S4.S5: K.
St.. S4.35; N., $4. SO; WG, 14.74; WW.,
S5.00.
London Money.
London. March 31. Bar Silver S3d par
ounce.
Money Si per cent.
Discount Kat Short hill. 7 per cent;
thre months' bills, SI per cent.
Issued for Your Information
Investor s Pocket Manual
371 Pag SoohUt tud Monthly
High and low record of J.0PO stock snd
bond and statistical descriptions of 400
corporations. Will' furnished FREE I
bv your own Investment house on request, j
OR 'f not, we will send names of housea
v hich will ?nd vou FREE monthlv rentes
FINANCIAL TRESS, lit Biod St., N. Y.
for The Bee by Sidney Smith.
Copy riant, I till, ("h'.caeo I
Bonds and Notes
The following quotation furnished by
th Omaha Trust Company;
A mer. T. A T. Co. 6s. 1922 97 7.60
Amer. T. A T. Co, 6. 1924 95, 7.60
Anaconda 7. 1929 93 8.07
Armour 7s. 1930 96 7.M
Belgian Gov't. Ss. 1941 . 9S 8,18
Pelglan Gov't. 7s, 1945 .... i 7.80
Beth. StMl 7s. 192 99 7.60
Beth. Steel 7a. 1923 97 8 20
British 6S. 1922 94 8 35
British 5s. 1929 89 7.17
British 5s. 1937 86 6.95
C. B. A Q- Jt. 4s, J921 98 12 13
C. C. W. A St. L. f.s, 1929 .... 64 S.08
Christ tanta e. 1945 6 -42
I'u.bchv 1'kif. Co 7s. 1923 98'n, 7.1'.'.
Denmark 6s. 1945 9S S 10
French Gov't. 8s. 94i 99 i.08
B. F. Goodrich 7s, 1926 90 10. 10
.lap. C.v't. 1st 4. 1 925 S2 9.90
Jap. Gov't. 4s. 1931 64 9.70
Morris A Co. 7. 1930 4 ".68
Norwav 8s. 1910 99 8 0S
Northwest Boll Tel. Co. 7s. 19I017 7.2,
N. V. Central 7, 1930 101 H.S,,
Penn. R. -R. Co. 7s, 1930 102 ..
Southwest Bell Tel. Co. 7s. 19!i.9G 8.03
Swedish Gov't. 6s. 1939 SO 8.10
Swift A Co. 7a. 1926 9.1 ,.90
Swiss Gov't. 6s. 194 "3'
I'. S. Rubber 7s, 1950 t :-1
Westing. Elec. 7s, 1931 99 i.l-
New York Curb Htocks.
The following quotations are furnlshel
by Logan A Bryan.
. . . 10 11
. . . 64 (S 66
. .. 1 ffl. 11-8
... 1 1-Sf
. . . 5 6
. . . 1 1
. . . 9 8 9
. . . 1 ft 1
. . . 1 ii 2
. .. 4
...12 iff 13
...138 a-HO
. . . 10 iff 20
. . . 4 B 4,
. . . 7 (fl 7
9 14
. . . 7 0f 8
. .. 13
Boston MontnVia
Boston Wyoming
Cresson Gold
Cosden Oil
Consolidated Copper
Elk Basin
Federal Oil
Glenrock Oil
Island Oil
Merrlt Oil
Midwest Oil Refining Co.
Silver Kinr of Arlsona..
Sapulpa Oil
Simms Petroleum
Tonopah Divide
U. 8. Steamship
V. S. Retail Candy
White Oil
Foreign Exchange Rates.
Following are today's rates of exchange
as compared with the par valuation. Fur
nished by the Peters National hank.
1'ar vaiuauon xoopy
Austria
Belgium
Czecho-Slovakia ....
Henmark
Tngland '.
France
Garniany
Greece
Italy
Jugo-Slavia
Norway
Poland
Sweden
Switzerland .
.30 .0013
.195 .0732
.0131
.27 .1705
.86 3,92
.193 .0700
.238 .0165
.195 0752 .
.195 .0405
.0074
.27 1610 1
. . . .0015
.27 .2365
.195 .1745
Kansas City Hay. ' ,
Kanea City. March 21. Hay Un
changed: No. 1, timothy. $19.00(f21.0O;.
No. 1 prairie. $13.00516.00; choice alfalfa.
J22.60(jt 23.00
If you visit this resort,
we invite you to call at
1 our office in the Chal
fonte Block, 1225
Boardwalk". Here as at
home, you may enjoy
the benefits of our Na
tional Investment Serv
ice. The National City Company
Omaha First National Bank Bldg
telephone -Douglas 8316
m
L?
1 , 11
Atlantic
City
Service... 1
m the Careful
for Grain and
Delivery in All
We Operate
Private
Wire Connections,
to All Offices
Except Kansas City
Wt SOLICIT YOUR
Consignments of All Kindt of Grain
to OMAHA CHICAGO, MILWAUKEE,
KANSAS CITY and SIOUX CITY
Every Car Receives Careful Personal Attention
The Updike Grain Company
THE RIL1ABLX CONSIGNMENT HOUSE
Wttern Electric Company
Report Prosperous Ycaf
New York. March 21,-Total a1es
of the Western Electric company
during 1920 were $2(112,00(1, as
compared with $135,722,000. for 1919.
The aiinti.il report today showed
ist't earnings amounted to $8,277,414,
while those of 131M were $5,652,08"?. '
The net earnings for 1020 were 7.2
per rent on 'the average investment,
while in 1019 they were 6.9 per
cent. '
L'ntilled orders at the end of the
vear aggregated $82,655,000, as com
pared 'with $47,442,000 at the end
of 1919.
The employes, the tfport said, on
December 31. numbered 39,650, a
compared with 27,584 at the end ot
I'MO.
Steel Corporation Sales
Decrease During Year
New York, March 21. Gross sales
and earnings of the Bethlehem Steel
corporation for 120 were $274,431.
2M a decrease of $7,210,671. accord
ing' to 1 lie report issued today.
Total not earnings of $36,351,534
showed a decrease of $1,089,665
and the net income of $14,458,836,
or 5.27 per cent, was less by $898,
U25. Value of orders at the end of 1920
aggregated $168,295,328, again:
$204,118,387 in 1919 and $559,364,041
in 1917. It was stated, however, that
orders for new construction will
keep the principal shipbuilding
plants employed for the year. ..
Opportunity is knocking Read
Bee Want Ads., .;
IT
3IBCS9III
MONEY
APRIL FIRST
in cash or on deposit with
BuilcMng and Loan Associa
tions, Savings Bank and
kindred institution will b)
SUBJECT TO TAXATION
WE OFFER
FIRST MORTGAGE
SECURITIES
bearing interest at the rate of
Sh to 8i
TAX FREE IN NEBR.
These Securities may
be had in denomina
tions of $5.W) to $1000
I
Guaranty Securities Cp.
AND
Pioneer State Bank
Farnasj Street Eitrsac
SECURITIES BUILDING
OMAHA, NEBRASKA
The Road That
Leads To Financial
Independence
is just what you make it
You can make it a never end
ing one by not saving ftteav
atictlly.
You ctn make it a long and
tediouione if your money caras
only average interest rate.
' You can make it a pleasant,
interesting and shorter road by
purchasing sound, lined di
vidend paying stocks oa tha
Rose 20 Payment Plan
Which road will you takct
Write for imensely interesting
FREE booklet No. ' 25S
"How to Become Finaa daily
Independent"
ROSE&COMIHNY
InOtrtmtnt Wtnmmmm
SO Brood 8t. NewYork
Handling; of All Orders)
Provisions for Future
the Important Market
Offices at
Omaha, Nebraska
Lincoln, Nebraska
Haatiaga, Nebraska
Chicago, Illinois
Sioux City Iowa
Holdrege, Nebraska,
Geneva, Nebraska
Dee Moines, Iowa
Milwaukee, Wiscoets
Hamburg, Iowa
Kansas City, MiisettW