THE BEE: OMAHA. SATURDAY. APRIL 23. 1921. 21 Plan to Restore Liberty Bonds to ; PaY Is Outlined Market, Financial and Industrial News of the Day ! snssssslssBJBBnJ . . I I 1 I ' 111 . I U. S. Would Issue New Series ' Of Bonds Aggregating 25 Billions to Be Ex changed for Liberties. - By HOLLAND. As governor of the war credits board at Washington who received ..the distinguished service medal as a pute to the manner in which he Cjirected the policy of the board dur ing the war, Colonel M. W Thomp son's plan for reconstructing the pub lic finance is ure to receive the at tention of those in the administra- . tion at Washington who are now in tensely occupied with the attempt to handle the vital financial matters which must be satisfactorily disposed of before normal conditions return. Colonel Thompson has outlined a plan by which the market value of Liberty bonds may be so stabilized as to restore the original subscription price. And if this be done it will go far, in his opinion, towards the adequate reconstruction of the pub lic financies. Before setting1 forth briefly the principal features of his ' plan it may be worth while to report what the number of separate pieces of Liberty bonds and Victory notes now in oossession of the public is. These figures will be sufficient to make it clear that every holder of these government obligations who in number cover the entire United States will be sure to be greatly m ' terested in his plan. They will also learn with gratification that the plan has been critically examined by men competent to pass judgment upon it and without exception is approved by them. In by PoWlc. A. tT ito id. 000. 000 separate pieces ot Liberty bonds nd Victory notes represent. d the loan mad by th public to the government during the days of the war. Fifty-four millions ot tbeao separate pieces ware made up ot Victory notes and liberty honrts whose fsce value was either Ion or MOO. That Is more than per cent of the entire amount. There were 3,500.000 Liberty bonds and Victory notes ft the face value of $300. Therefore but IS pr -nt of thetntlre Issues were In demonina Tions of Jl.OOO or more. In other words those who are sometimes vailed the plain people took the bonds. Sola at These statistics, brief as they are, are sufficient to thow that nearly 0 per cent of the many millions of the public who bought these i;otes and bonds, made a rlftces in order to aid the government in this way. Many of them borrowed money of the banks depositing- the bonds for security. Many went Into their savings and took from thein a sufficient amount to buy the bonds. The best estimate Is that 1S.000.000 of the people were holdars of Danaa vi innso biiiu.i ucuviiuuaiiuuo. Behind these bonds stand the credit and tho good faith of the government Itself and yet they have fallen below par and If the holders of them were forced to sell they would meet with loss. In fact many have sold and In that way lost. These obligations of the government have been utilized for speculative purposes. The es timate Is that 73 per cent of the total bond dealings In New York Stock ax change In were Liberty bond trans actions. Pricea varted some of them be ing as much as 111 per hundred below parrf The Thompson IMaa. . Colonel Thompson states that there- are now outstanding approximately $20,000, A00.000 of IUerty bonds and Victory notes, reckoning the amount at par. But on ac count of the depreciation In the market value of these bonds they today could bo marketed tor not much more than $11,000, 000.000. The refinancing ajid consolidation of the public debt, a subject to which the admin istration is giving cartful consideration cannot be accomplished unless these Lib erty bonds and Victory notes are re-established at par. This readjustment can be accomplished, in Colonel Thompson's opin ion. It congress authorizes the Issue of a new series of United States consolidated bonds the aggregate of which would be $45,000,00(1.000. The life of these bonds should not-, be less than 20 years and probably St or even $0 years would be better. The government would offer to the public who are now the owners of Liberty bonds and Victory notes to ex change these bonds and notes for the now consolidated bonds. Maintained at Far. . All whe have critically examined this Plan are of the opinion that these new bends Into which-the Victory notes and Liberty bonds may be exchanged will urely be maintained at par. Then they will be In the possession of what is sometimes called the great middle class In the United States, the farmers, the Physicians, the grocers, the teachers and those who receive small salaries. They will become, In numbers at least and In Importance, aa a group the greatest In i vestora in the Vnlted States. Thia mid dle class group, so to call it as a whole, possesses the greatest earning and sav ing placed In great measure ' for the funds which are necessary If our natural resources, are to be so developed aa to result In a very great increase In eur national wealth. For upon that increase In our national wealth la to be found the baris for our future prosperity. Foe and One-Third Billions. Before the end of the present congress Victory notes, the aggregate of which is t4,SS3,00t will' fall due. The government must be prepared to moot- the day ot payment As it will be impracticable, al most Impossible tor tire government to redeem these notes because it would require more than $4,000,000,000 to do that. It is Inevitable that in some way the notes be provided for. They must be either funded Into a long-time bond or they may be exchanged for new con solidated bonds, provided that congress authorises an issue of that kind. The presumption la that the recent visit of .r. P. Morgan to Washington was occa sioned by the desire of the administra tion to obtain authoritative information respecting our finances, and perhaps sug gestions as to the best method of deal ing with the finances, including the debt of $lt.000.000,00( which our allies owe to the United States. For the president him self and his advisers and the leaders in congress realize that these matters must be satisfactorily adjusted ' before there can be permanent restoration to normal conditions. Adjustment must Include the handling ot the Liberty bonds and Vic tory notes and there is probably not one of the 10.00. 00 of eur eittsens who put some part of his or her earnings or sav 'lngs into these Liberty bonds or Victory note whe will not be rejoiced to learn that the government is taking such action to stabilise ttese notes so that whether they are funded or whether they are exchanged for an issue of consolidated bonds, they will be handled exactly ai they were when they were Issued, namely, by recognizing tire fact that the public 4 h.u iv. cemn vn toe aoiiar lor msa notes and bonds. - . i , Pun's Trade Review. New York, April IJ. Dun's tomorrow will say: "After long continued liquidation, more stability has developed In some markets, with a definite train in business. Comple . tlon ot the readjustment is aot general, but basic conditions are gradually ' strengthening. A tendency toward easing et the monetary stringency, partly re- fleeted in some lowering of discount rates, is a favorable augury and freer marketing of grain is making for a lessening ot the : financial tension in country districts. Re cent sudden changes la temperature have been detrimental alike to crop advance ment and seasonal increase in retail dis tribution, yet weather influences are sec ondary to some other factors in the pres ent sitnation, questions et prices and wages being uppermost." ' Weekly bank clearings $M0,SH.8IL St. Uwla Live Stack. East St. Louis. April . Cattle Re ceipts M bead; market, aot enough - rattle here to make a market Prices nominally steady: one load of steers brought $T.7i another. ST.!; light nixed yearling steers and aetfera $1.71; veal . calves top. !$.$; balk. $t.oewl.:;. , Hose Receipts 14.lt head: market toeing lffflSc higher: top, $1.15: bulk light and medium. iT.$e)l.i(: balk heavy, tl.TKM 08; packer sows and pigs mostly SSe lower; quality and clearance good. Sheep and Lambs Receipts 1.S0O head; se market; quotation nominally lie niftier. - , . : New Yertt Sagas. ' Wow York, April fl There waa no change la the local raw sugar market today and while ne business was reported, the undertone was easier. Prices were quoted at e for Cuba, cost and freight equal to $.$4 for centrifugal by the oom mittjf. while uncontrolled sugars ruled ai sate. live Stock Omaha. April Cattle Hogs Ttaceitil wars: Official Monday .... 11.155 8,140 Official Tuesday S.704 10.318 Offloral Wednesday. t.ESS 14, IT Official Thursday... 4.190 10.1B0 K, Innate Friday.... 1,700 1,300 Five days thia wk.. 58,037 12,08.' flame day last wU. 20.000 4,7.t Same day t wk ago. 26,239 39,381 Same day 3 wk ago. 18,50. 40,443 Sam day year ago. .!.&: 71,S7 i. Sheep 14.413 1.! 1S.SS3 .027 S.700 66.73 8,596 4S.2S8 44,495 43,203 Reeelpts and disposition of live stock at the Union Stock yards. Omaha, Neb., for 34 hour ending at 3 o'clock p. m , April :.', 1121: RECEIPTS CAR9. Cattle.Hoga Sheep. C. M. St. P , 4 .., Wabash I "., Missouri Pacific 3 3 ' ... Union Pacific IS U C. A N. W., east 1 C. A N. W, west it . IS C, St. P., M. O........ I C, B. A Q., east 4 ... C, B. 4.. west $ t t C. R. I. s P., east. ... i . 3 X Illinois Central . . . 1 ... Chi. Ot. West 1 , Total receipts 71 111 II DISPOSITION. Cattle.Hogs.Sheep. 123 l,4l;i (38 .71 1,143 2.277 240 1.184 681 410 3.208 S.244 Morns & Co Swift ft. Co Cudahy Packing Co. Armour Co Cudahy Bros J. Wj Murphy Dold Packing Co 443 Lincoln Packing Co.... S So. Omaha Pkg. Co.... 1 Ogden Packing Co Hlgglns Packing CO ... . 1 Huffman Bros 3 W. B. Van Sant & Co.. F. P. Lewis 10 J. B. Root Co 18 J, H. Bulla 11 F. G. Kellogg 42 Werthelmer A Degen. ... ,27 Rills & Co i Sullivan Bros 4 Mo.-Kan. C. ft C. Co.. 1 B. O. Christie 12 John Harvey 17? Dennis A Francis ...... Cheek ft Krebs 1 V. A. Wallowltz 4 Other Buyers 202 Total 85 SIX lt 32 48 ... Chicago Grain . 3.491 2,692 ff,:C4 $.38$ CaltU With just a fair run of rattte on sa'e, about 1,700 head, the market made a repetition ot last Friday's strong active trade. Steers sold mostly lOjplao higher thau yesterday and are at least a quarter higher than ths low time this week or not far from toady at last week's close. Cows were strong to 6c higher today and are selling anywhere from steady with last week on the best kinds to around $1.00 higher on canners. Stockers and feeders were slow and steady today at the week's decline of 2oo0c. Quotations on cattle: Choice to prima beeves, $8.0001.(0; good to choice beeves, $7.6007.10; fair to good beves. $7.00 7.50: common to fair beeves. i.257.C0; choice to prime yearlings, $8.25J.60; good to choice yarllngs. $7.1008.25; fair to good yearlings, $7.OO7.$0; common to fslr yearlings, $6.507.0; choice to prime heifers, $7.257.7S: good to choice heif ers, $8.00 7.00; choice to prime cows, $.767.10: good to choice cows, $0.10 8.60; fair to good cows, $u.2;C.O0; com mon to fair cows, $2.001.60; good to choice feeders, 7.00tJ7.50; fair to good feeders. $8.2507.10; common to fair feed era, $5.6008.00; good to choice stockers, G.757.25; fair to good stockers, $ti.0t 8.75; common to fair stockers, $4.50 6.00; stock heifers. $4. 50 6.00; stock cows, :!. 75(5)6.00; stock calves. $5.00i& 7.00: veal calves, $5.O09.25; bulls, stags, etc, $4.007.00. ' STEERS AND HEIFERS. So. Wt. Pr. No. Wt. Pr. 20 834 $ 7 21. 22 625 $ 7 49 8 li 7 55 24 45 7 75 11 1132 1 75 7 3 7 81 15...... 854 8 00 15...... 62 8 II 23 '.. 71 7 16 20...... 834 7 2S 23...,., 625 ' 7 40 ..... 937 21 64 7 55 21...... 882 6...... 7 75 1 !2 18 1031 7 10 15...... 854 11 2 8 IS BEEF STEERS. 6I 45 11.... T 60 7 fit 7 85 8 CO 16... 15... 31... 17... ... 33... t... 11... 5... 10... 8... ... .., 14.., 11.., 8.., 10.., .1046 .104!) . 408 .1107 ...1116 7 35 24. ...114S 7 50 17. ...1018 7 65 . 7. ... ft 2 7 7 21 Ho5 ...1S7 , 7 88 4 1120 ...1028 t M 51 1154 . YEARLINGS. ... 68 7 35 ....... S03 . . . 670 7 60 6 2;l ... 762 8 00 6 S72 COWS. ...1075 5 00 1031 ...1162 . C 00 . 8 1053 ...1146 6 40. 9.....10S5 ...1062 6 65 11 1117 ...10J7 7 20 3 1449 HEIFERS. 6 50 11 173 TT.10r 8 85 .;,.;'. 4S . . . 70S- 7 25 4 687 STOCKERS AND FEEDERS. 7 II 7 40 7 B 7 7 7 S 7 90 8 1$ 7 4$ 7 1,0 1 35 6 tO 21 6 5ft 6 85 7 21 ( 01 7 1$ 7 II 1.. V.: .. 8.. .. 2.. 2 .1376 .,.1520 ..1230 .. 688 .. 36S .. 110 .. 376 .. 180 870 6 71 ..1135 . .1070 .. 456 420 10 20 143 4 75 5 68 6 21 16 7 10 8 25 8 75 I 65 15 BULLS. 4 5 4... 4 90 1... 6 00 33... 6 75 CALVES. 6 25 . .. 7 08 , 2... 8 08 4... I 5ft ' - 4... Hogs Today's rsceipts of hogs were estimated at .S0 head and the market ruled anywhere from steady to 15c lower, according to whether sales were compared with the early or late trado yesterday. A good clearance was made and the closing market was more active. Best light hogs sold at $7.85$8.00, the latter price being the day's top Bulk of the receipts brought $7,061)7 66. HOGS. No. Av. -43h. Pr. 68. .322 60.. 304 68. .256 210 .73.. 268 68. .258 60. .200 63. .214 61..221 $3. .102 ..t $ 7 10 70 7 20 7 30 7 40 7 60 7 60 7 70 7 80 t to SO 70 140 No. Av, 68. .32 61. .377 66. .288 68. .248 lift 60. .357 62. .249 67. .218 I6..19S 8n. Pr. ... 7 II 7 2ft 80 70 7 SI 7 45 7 65 7 65 7 73 7 15 Sheep and Lambs Fresh receipts of sheep and lambs amounted to 9,700 head with most of the offerings consisting of lambs. Trad was very slow at prices steady to around 25e lower. Boat handy Iambs sold on a shipping order at $10.25, the day's top. Oood shorn lambs reached $1.00 and fat sheep were quoted at un changed prices. Good ewes are worth around 7c a pound. , A few loads of shearing lambs were offered but coun try demand was very slack and the re sult was a slow trads. ' Quotations on sheep and lambs: Best fat lambs. $1 6.60 1 10.23; medium to good lambs, Jt.50ei0.00; plain and heavy lambs, t.7t$M0; shorn lambs. $8.2549 .2S; good to choice ewe. . $6.75 7.25; fair to rood ewes, $6.00sJ6.50; cull ewes, $2.6$ 3.60. : . , Chicago Lira Stock. Chicago. April 2!. Cattle r.eceipts 6,000 head: market generally steady; top, $t.25 paid for yearlings; top heavy bullock, $8.65;, bulk beef steers, $7.75e8.00; fat oowa and heifers mostly, $6.00y7.OO; bulls weak, bulk, $5.30416.60; real calves steady to higher: bulk vealers. $8.0009.00. Hogs Receipts 2,000 head; market ac tive, opened 1025o lower; lights off most; closing steady on lights and steady to strong on others compared with yes terday' average; top, $8.50; bulk, $7.71 45-1.35; pigs.- llt5o lower; How; desir able pig. $7.7ll.2S. . . . Sheep and Lambs Receipt 10,66$ head; market lamb generally steady; medium kind weak; wooled lambs top, $10.10; shorn top. $10.06 to shippers; bulk $9.88 et.75; no sheep or yearlings here; choice 62-pound shearing lambs. $8.10. tTsns City Live Stack. -. Kansas City, Mo.. April B. Bn- reaa of .Markets.) Cattle Receipts. 35$ head: beef steers active, steady to strorrg; load lots, $6,734)8.00; half load yearlings, $8.21; all other classe steady; best jveal ers, $9.09; canners mostly $1,604)2.60; medium end choice cows, $5.60D-7I; few good belters, .$7.60. Hogs Receipts, 1,206 head; market closed active, uneven, around steady with yesterday' average; sorted 145-lb. hogs to shippers, $8.10; bulk of (ales, $7,469 2.96. . , . Sheep Receipts, , $06 . head;, killfbg classes fully steady; tour car wooled lambs, $16.25. Slam City tlv Stack. " . Sioux City, la.. April 21. Catile Re ceipts. 609 head; market, steady to strong; fed steers and yearlings, $6,666) $.16; fat row and belters, $3,714)8.69; canners. $1,604)3.60; veals. $5,004)8.26; feeders, $6,604)7.60; calves, $4.5697.16; feeding cows and heifers, $3.60 1.60; (tockera. $1,664)1.11. . ' Hogs Receipts, 4,006 head; market, steady to , strong: light $7.707.15; medium mixed. $7,106)7.65; heavy, $7.06 6)7.40; balk of Mies, $7.15 7.71. Sheep Receipts, 1,656 bead; market, steady; light mixed, 17.1601.76. ft. Joseph lira Stack. St Joseph, Ma, April 31. Cattle Re ceipts, (.606 head; market steady ta strong; -steers, tl.7l0l.7l; cows and halt ers. $4.e04.6: calve, ll.00OI.6t. ewe. $1.66 97.66. Hogs Receipts. 4.206 head: market, strong to 10c higher; top, $1.16; bulk, $7.6691.16. , Sheep Receipts, 1.106 head; market, steady to strong; lambs.' 4. 00310.35; By CHARLES D. MICHAELS. I bice- Tribune-Omaha Bee Leased Wire. Chicago, April 22. Grain markets displayed the best tone of any time within more than two weeks. The speculative atmosphere has steadily cleared and the markets as well as the traders, were in better shape to respond to constructive influences. Export business in wheat, corn and rye was on and with cash offerings light and premiums .for wheat and rye advanced, the despondency ap peared to have left the trade for the present at least. There is a be lief that all depressing influences have been discounted for the pres ent and with the longs well liqui dated on the recent break, the shorts (are now taking- their turn. Closing traders were well towards the best of the day ana so tar mis week with net gains on wheat of 1 l-4c to o l-4c. May leading; corn was 1 1-81 7-8c, oats l-8l-2c and rye 1 3-43 l-2c. , Wheat Premium Advance. There is no cash wheat pressing on the market and premiums nave aavanceu o to 6o of late. Millers here and in the southwest and northwest are taking wheat more freely. Exporters are in the market for winters at tho gulf end for Manitobas at the Atlantic ports. Numerou bids were in the market from exporters with limit. tnr low. owms to tne aavances. Seaboard exporter bought futures her freely and late in the day a report went the rounds that Russia bad bought wheat in this country, out mis was uemra mint. The two factor aside from the export business and scarcity of cash wheat which influenced operations, was the break of nearly le In Winnipeg early with an ad vance of 7 lie later. The other was the Kansas crop report with Its condition of 56.8 against 87.8 last month and 78.4 last year. The acreage was given as 9,233,768 acres with an estimated crop of 135,000,000 tmhMi comnared with 187.000.060 har vested last year. Tradera sold on it tor. a time and made a small Dreat, out tne late advance in Winnipeg and the export business brought a wave ot buylpg and an advance. . , Trader' Cover. Buying of May corn by cash houses of late absorbed the offerings of local traders and caused them to cover on an advancing market. It is said that hedges on around 6,000,00ft bushels have been taken against cash sale within a week. Country offer ings were light and arrivals 138 cars. Ex port sales were 400,600 bushel and do domestlc sales 134,606 bushels, with char ters for nearly 1,000,006 bushels. Oats failed to show as much gimp as other grains, as the local shorts bad re duced their lines acd there was little out side buying. May advanced c to 38&c and closed there. Crop news was less favorable and cash trade better. Bhortys In May rye are in bad, as offer ings are light and they had to bid up to get in, prices .lumping 3 to So. Export sales were 50,000 bushels at the seaboard. July was taken by shorts. Pit Notes. With an improvement in the tone of all the grain markets, especially in wheat and corn, and with no pressure of cash grain and an urgent demand, the ex pression is frequently heard that the mar kets have been liquidated on the recent decline by the longs and now the shorts are taking their turn. The latter are the best kind of buyers when scared. Dif ficulty In buying cash -Wheat at advanced premiums, combined with a renewed for eign demand by Germany and Belgium, and the Greek order ot 1,300,000 bushels which Is about ready to be placed, created a better feeling. Receipts of wheat at Minneapolis wer 282 cars. Winnipeg receipts 86 cars. F. H. Babcock says: "Winter wheat has experienced three period of freezing temperature which, have anquestionally de layed the growth and probably weakened the vitality of the root. Some claims of damage are being received and more will follow." v , While the tone of the grain market was not aa bouvant as of late, the ability of the market to obtain support when needed and the fact that the orices are stubbornly maintaining advances is bring ing many converts to the bull side. Skepticism Is being overcome by reallzia tlon that It 1 not a "flash in top. pan" bull market The fact that high premi ums prevail for contract grades of canh wheat In all markets makes the outlook for the May shorts look as gloomy as the weather was today. It Is true that mere are suu ample stocks back In the interior, but thev are worthless an far as the short is concerned when it comes to delivering tne wneat. Modern Miller says: "Winter wheat has made comparatively little progress in the past week, although general condition are still favorable. Cold weather has re tarded growth, and set the crop back to about normal position for this time of ,u K Uaw. -J , , ..I.,., .1 . from, freezing weather has been done but ib nun uui appear to u extensive. Grain - receipt in Chicago were wheat 42 cars; corn, 136 cars; oats, II cars; rye, f cars; barley, II car. Duluth wires: "Looks as if Minneapolis mills were filled on their Canadian wheat requirements. Those who have been handling it say thev have no fnrther orders. Kansas City wired: "Increasing premi ums for cash wheat are not bringing it jut. Several large houses say last night's bids bought practically nothing and this ou oasis oz ia to is cents over ALay. ' CHICAGO CLOSING PRICES. By Updike Grain Co. Doug. 2627. Apr. 22. Financial Art. Open, f High, Low. Close. iTes'd'y Wht. " May " 1.28 1.204 J.ST 1.30 1.27H July 1.06 li 167)1 1.05 1.07K 1.66V Ry . May 1.26 l.JSfc 1.26 1.23& 1.24 July .98 1.06 .91 1.60 .98H Sep .90 .91H .89H ,tl . Corn f Msy .66 .6IU .594 .64 .694, July .62'4l .3i .61i .63 .61 Sep. 64'i .66 t .63? .65 .$ Oats " lay .3S .31 ,37 .38 .38 'July .39 .39 .88 3 .39 Pep .49 .46 .31 .40 .39 Pork , . May 115.00' 15.60 ll.flO 15.60 11.25 July 115.76 116.00 15.75 16.00 115.65 Li: rd I I .1 Msy 9.46 I 9 89 9.40 I 9.80 f 9.50 July 9.77 110.22 ' 9.75 10.22 9.93 Ribs. I I May 8. 76 ( 9.1J S.78 6.11 I .77 July !16 9.52 4 9.66 9.47 I 9.15 Minneapolis Grain. Minneapolis. Minn.. April 22. Floui" Unchanged to 10c higher; in car lead lots, ramiiy patent quoted at sa.loOs.4ft per bby in 91-lb. cotton sack. Bran $15.06 16.68. Wheat Receipts, 28$ car compared with 141 cars a year ago. Cash No. 1 northern. 11.88 "i 411.48: Ma v. S1"31: July, $1.11. , corn ko. I yellow, szo3c. Oats No. 3 white, J334!,c. Barley 454662c. Rye No. .2, J1.25 1.27. Vlax No. 1. $1.61 Q 1.71. St Leais Grain. ' St. Louis, Mo., April 22. Wheat May, $1.31; Julyj $1.67. , Corn May, I4c;, July, 62c V Oats May. 29c; July, 40c. Kansas City Grain. . Kansas City, Mo., April 22. Wheat May, $1.21; Jnly, $1.60. - Corn May, 60c; July. c; Septem ber, 68ic. Omaha Ray Market No. 1 rtpl,a Prairie Hay ,...$12.66013.68 No, 3 Upland Prairie Hay.,., 16.666J1L60 No. I Upland Prairie Ray .... 7.606) $.66 No. 1 Midland Prairie Hay. 11.606)12.06 No. 1 Midland Prairie Ray.. t.W0 6.06 No. 1 Lowland Prairie Hay .. S.I6t 6.66 No. I Lowland Prairie Hay.. 7.609 S-66 Choice Alfalfa 31.90023.09 No. 1 Alfalfa 18,00 20.60 Standard Alfalfa 14.004)17.60 No. 2 Alfalfa I.60Q11.06 No. I Alfalfa '7.000 8.66 Oat Straw "8.00 9.66 Wheat Straw T.50 $.66 New Tark Frednce. New Tork. Anrll 22. Button TT. settled ; creamery, higher tbaa extras, tiriirwery extrMk Esss Irreeular fraah s-athairail tints 2tH29c; trash gathered tint, Cheese Unsettled; state, whole milk flat, fresh, specials, 2921e;-ethers, Live Poultry Easier; broilers. 4l4)93c; fowl, lltfJIc; rooster, 14016c j turkeys, sic .Pressed Foultry rirmj oil rooster, U4b!ic; turkeys, 36060c. Kansas Cltv. Ifa. iwii 91 i lower; firsts, 26c; seconds, lie.' Poultry Hens, le lower.' 'J4: aid roosters, le lower. 10c: brollen tin. changed, l440o. , . - Oil., Duluth, 'Minn., April 22 Liojeed on! 8be tfttf flffrfc.Siat. ByALEXANDER DANA NOYES Chleag Tribune-Omaha Be leased Wire. New York, April 22. Without any visible cause in the day's financial Lnews, vigorous and general recovery occurred on ine siock cxtnangc to day. Advances ranging from 1 to 5 points were numerous and what to Wall Street is always more sig nificant when the movement of prices Sets in one direction, the day's trans actions- went beyond 1,000,000 shares for the first time since March 23. To day's was, in fact, only the second "million share market" of the pres ent year and it will not be over looked that on both occasions the greatly increased business was ac companied by general advance in prices. The markets of these times were the kind which have to be explained by something in the occurrences oi the day outside of Wall Street. It might be reasonable to connect to day's movement with Germany's ap plication to the United States to set tle the reparation deadlock. German Situation Key. As It. happens, the American financial markets of 11 have given little evidence of being Influenced at all by a good or bad turn In the European political situa tion. They did not advance on the sum moning of the London conference: they did not decline on the failure of the negotiations and the preparation of the allies for a further advance into Germany. Tet, nothing has been more certain all albng. than that the outcome of that controversy would necessarily be the key to a good part of ths financial situation also. If this Is recognlied, then the pe tition of Germany to the UnMed State government with a promise to abide by our decision was an event of which even the stock exchange would be bound to take notice. Tbe day's atock market may or may not have knowingly taken account of Germany' action. What was more evi dent was tbe extended condition of the speculative commitments for the decline. In the industrial shares, especially, it has long been evident that th position ot the "bear account" was such that a really important announcement of good news was bound to affect prices instantly and strongly. As a rule the railroad shares were slow in following today' movement of recovery. Call Money Drops. Call money rates on the stock exchange slipped back to 6 per cent again. The foreign exchange market did not share in th stock market' upward movement; it was quiet and more or less irregular all day. German exchange, however, which fell from 1.63o per mark to 1.39c on -Thursday, recovered today to 1.63c Th week statement by the Uerman Reichs bank reports reduction of nearly 600,000, 000 mark in the paper currency, bring ing it down below the end of December total. In the corresponding Interval a year ago. outstanding notes were increased 20,080,000.800 marks. Week-end reports of the mercantile agencies are, on the whole, more eheerful. Increasing tendency to oteadlnesw In prices with better bualness In varioul market as a consequence, is recognized by aU ot them. ' Hv York Catto. Anll 0 Th. pnttnn TVinrbet wa very quiet again during today's early trading ana nuccuations wer iubbuw within a compartively narrow range. There waa some scattered buying on reports of too much rain in the south, but tbe Liverpool oablea were rather disappointing with private advices report ing increased nervousness over the coal situation. . . Th opening here wis steady at an ad vance of 10 point to a decline of 2 point, with active month selUng about a to s points net uigutu . . , .. ... mAanl. .Ml 1 flf GUI spot DOiwi" - May. while there waa scattering liquida tion and the slight early improvement wa not fnly maintained. The price of July contract fluctuated between $12.45 and -.Sew York General. New Tork, April 22. Wheat Spot; market firm; No. a red, $!.:, A,, No. 2 mixed durum, $1.6S, c i. f. track Com-Spot;' market firm; No. S yellow and No. 2 wbe, 3c, and No. 2 mixed, 82c, c 1. r. r.ew xoric iv awe Btinu.iu. Oata Spot; market llrmer; No. 1 white, Lard Market firmer; mlddlewest, $10.40 6J10.58. Other articles unchanged. New Yerk Metal. v.-i. 1.1 rAnnrt Steadv: electroyllic, spot and nearby, 12c; May and June, 13c. t Iron Nominally unchanged. Tin Firm and nearby, 31.0631.25c Tatures 31.08 31.25c. , Lead Steady; spot, 4. Joe. Zinc Quiet; East St. Louis delivery, spot, 4.8505.00c. Antimony Spot, 6.12 4) 6.37c. Turpentine, and Rosi. Savannah, Ga.,' April 22. Turpentine Market firm, 65c; sales, 363 barrels; re ceipts, 363 barrels: shipments, 207 barrels; atock. 1,809 barrels. Rosin Market firm: sales 67$ cask; shipments, 101 casks; stock, 71,666 casks. Quotes:.B, $3.60; A, $3.66; T, E, F, G, $3.803.s5: H, S.5; I. $3.853.90; K, $4.10; M, $4.!0; N, $4.50; WG, $6.69; WW, $5.25. . , , . - - New- York Quotations Range ot prices of tbe leading, sleeks furnished by Logan 6b Bryan. Paters Trust building; .Thursday's High. Low Close. Closs. rails: A.. T. A S. T Ill 86 $6 Baltimore A Ohio.. 84 33 23 Canadian Pacific .111 llO's 111 79 33 i 110 68 N. T. Central 68 88 63 Ches. & Ohio....- 60 60 60 Erie R B... 13 12 1 C.t. Northern, pfd., 19 68 69 Chi. Gt. Western.. 7 7 7 Mo., Kan. Tex K. C Southern, -w 16 25 34 Missouri Pacific... 18 17 17 N. T.. N. H. tc H... 17 16 IT Northern Pac. Ry. 72 72 73 Chi. & N W 63 61 63 Pennsylvania R. R 36 35 31 's Reading Co 69 68 68 C. R. 1. P 2 25 26 Southern Pac Co.. 74 74 74 Southern Ry... ... 21 20 20 ("hi MM. St. P. 25 244k 35 Union Pacific 116 115 116 115 Wabash , 7 . 7 It I STEELS. Am. Car A Fdry.,123 12i 123 121 Alhs-Chalm. Mfg.. 38 37 3 Am. Loco. Co 86 85 81 Bald. Loco. Wks. , 87 85 86 Beth, S. C. S4 54 66 Cruo. Steel Co. .. 79 75 78 Am. S. Fund. ... 29 29 21V Lack. S.-Co 48 47 48 Mid. S. Ord. ..27 26 27 P. a. Car Co. 85 84 8i Rep. I. & S. Co. .. 59 67 6 R. S. Spring .... 86 85 86 S.-S. Btl. . Iron . 21 36 28 V. 8. Steel 82 81 82 COPPBRS. An. Cop. Min 39 38 Am. S. & Rfg. Co. 40 Jt9, 1B 68 7 26 17 17 71 62 36 68 25 74 20 24 IT. 86 V? 64 76 2 48 27 86 0,. 39" 81 Am. o. or nig. u. iiin.i B. A 8. Min. Co. . 13 12 C. Cop. Co 11 11 Chlno Cop. Co. Cal. ft Arts. Insp. Cons. Cop. Ken. Cop. Miami Cop. Co. . Nov. C. Cop. -Co. R. C. Cop. Co. -. Utah Cop. Co.... 23 49 34 20 21 11 13 63 23 4S 34 19 21 11 13 - 39 40 13 11 23 49 34 20 21 11 13 62 38 39 12 11 23 si" 20 21 11 12 63 INDUSTRIALS. 38 37 43 71 38 37 85 42 68 S8 21 67 35 42 71 13 28 K 34 18 6$ 46 61 15 ..137 138 US 1 35 19 68 47 75 tn 16 13 38 15 13 28 26 43 70 38 5JU 106 106 106 84 9 12 29 83 34 18 68 46 74 61 16 137 1 13 38 21 29 83 84 Kg 13 36 65 14 59 83 40 13" 6 67 15 60 $5 43 15 13 5 .149 144 149 1 Chicago rredae. Chicago, April 22. uttT Lower; creamery, extra. 43c; ataudard, 40c. Egg Lower; receipts, 21,833 cases; firsts. 2222e; ordinary firsts, 1920c; at mark, cases included, 2131c Poultry Alive, lower; fowls, 27o; springy J4c. ', London Money. f , London, April St. Bar Silver I4d psr ounce. Money 5 per cent. Discount Rates Short billa, 6, per cent; 3 months' bills, 6 'per cent. Bar Stiver. New Tor, April 32. Bar Silver Do mestic, 99c; foreign. 6c. Mexican Dollar 45 e. 14 35 8 11 69 34 62 71 88 25 77 38 86 49 12 42 18 32 40 41 72 15 25 8 11 72 34 63 75 90 27 81 38 86 61 12 42 19 32 46 42 47 73 46 72 60 15 136 1 13 16 8 66 14 60 23 40 15 1J 144 14 36 8 11 69 34 61 71 88 25 76 37 85 49 12 42 18 Am. B. Su. Co. A. G. W. I. S. S. Am. Int. Corp. .. Am. S. T. Co. ... Pacific Oil. Am. Cot. Oil Co. . 22 Am. Tel. & Tel. ..106 Am. 7,., L. & S. .. 9 Brook. Rap. T. .. 12 Am. Can. Co 29 Chand. Mot. Car -.83 Cen. Lea. Co Cuba C. Sug. Co. Cal. Pkg. Corp, .. Cal. Pet. Corp. . . Corn Prod. R. Co. Nat. K. & S Fisk Rub. Co. . Gen. Klecv Co. . Gas. Wms. & W. Gen. Mot. Co. . . Goodrich Co. . . . Am. H. L. Co U. S. Ind. AL Co. 68 Inter. Nickel ..1. 15 Inter. Paper Co. .. 61 Aiax Rub. Co. ..35 Kel.-Sorlng. Tire . 42 Key. T. & K. .. Inter. M. Mar. . Max. Mot. Co. . Max. - Petroleum. Middle States Oil.. 16 Pure Oil Co 35 Willys-Overl'd Co. 8 Pierce Oil corp... ii-i Pan-Am. P. & T... 72 Pierce-Ar. Motor.. 35 Royal'' Dutch Co... 63 U. 8. Rubber Co... 75 Am. S'r Rfg. Co.. 10 SMt Oil & Rfg .. 27 Sears-Roebuck Co.. 82 Stromsb'g Carb Co. 39 Studebaxer corp.. 89 Tob. Products Co.. 62 Trans-Cont. Oil... 12 Texas Co 43 U S. Fd. Pr. Corp. 19 U.' S. Sra., R. A M. 32 White Motor Co.. 40 Wilson Co, Inc.... 42 West's El: ft Mfg 47 Am. Woolen Co... 75 . TMtal malam 1.195.90(1. Mones Close, 6 per cent; Thursday's close, 6 per cent. New Yerk Curb Stocks. ' Ths following quotation are furnished by Logan A Bryan: Allied Oil 11 f 1$ Boston Montana v. 60 61 Cresson Gold 1 5-16S9 1 Cosden Oil 7(t 8 Elk Basin 64 9 nianraxlr OH . 144 48 l'i Merrlt Oil ...13 12 lllitnri Refininr Co. . .14 (EP148 Sapulpa Oil 4 (6 4 ftlmma Petroleum .... . 840 8 V. B. Steamship . 11-16 IT. a. Retail Candv .- 749 8 Marland ..11 O 21 liberty Bond Price. New York. April 22. Liberty bonds at noon were: mi. ti.tt: first 4s. 87. jo Did second 4a. $7.54: first 4s, $7.60; second! 4s. 87.54: third 4s, 90. B0; fourth 44. 7.6; victory a, .; victory ; 17.50. Liberty bonds closed: Ss, ,$.42c; first I 4, 87.40; second ss, 7.t4; nrst 4s. 87.58: second 4s. 87.62; third 4, 96.46: fourth 4s, 87.65; victory $s, $7.50: victory 4s, 97.16. ' Chicago Stock. The following quotation are furnished by Logan A Bryan: Armour A Co. pfd ' 89 96 Cudahy Packing Co. common 47 48 Continental Motors ? 6 Ltbby, McNeil ft Llbby....,.4 64 10 National Leather 70 7 Re Motor Car Co 20 f? 21 Union .Carbide & Carb. Co..... ....0 11 47 72 Farm Mortgages 7 39 Year of Loaning Exparianc Without Lest to th Inrastor. .Writ for List Keke Inmtmsnt Ccr.?any MS Omaha Nat't Bank Building. Phene Doug. 1150. L7 S n jututnt sunn., April -a l.u track, n7l.t; rrivt H7, ERVICE... fa the Ctuwlttl HMriiia ot All Order. -for Grain and Provisions for . Future DwlivetTn All the Important Markets Wt Optrnte O faa at Omaka, Nebraska LirfleoliL, Nebraska Ha time, Nebraska Chicago, Illineia Siaxw City Iowa; Holdr(, Nebraska Csaara, Nabraika Dm Moist, Iowa MUwankaa, WTjaoaMra Hamburg, Iowa Kanatu City. MIsaoDti ' SOLICIT YOUR Consignments of All Kinds of Grtun to OMAHA CHICAGO, MILWAUKEE, KANSAS CITY and SIOUX CITY Every Car R4pcerre Careful Personal Attention The Updike Grain Company THS KEUABLX X)NSiCMcENT HOURS - Pttvttk ' Wxtt Connections it AU Offices Except Kmsai Cits Norfolk Man Named Head Of Reorganized Railawy New York, April 22. Joseph H Yourier, president of the Norfolk and Southern railway, was elected presi dent of the reorganized Denver and Rio Grande Western railroad at a directors' meetina here today. Mr. Young, a resident of Norfolk, Va., was connected with the old Den ver and Rio Grande system under the Gould administration. It is ex pected he will retire from his pres ent position and enter upon his new duties -within the next few weeks. It is understood that his election is acceptable to the Denver and Rio Grande protective committee, which recently opposed transfer of the sys tem to the interests now in control, Boston Wool. Boston, April S3. Th Commercial Bul letin tomorrow will say: "Trading In the wool markst thia past weak has continued in a moderate man ner, the mills taking more or leas wool from day to day, but in no large volume. Prices on the whole showf little change, although the market is erratic. The tar iff Is the center of attraction. "The situation at the mills Is healthy. Shearing is progressing in ths west, but little has been done on the new clip." Wisconsin: blood. 27028c: V. blood. 26tf26c; K blood, 2425c. Soourod. basis : Texas: Fine 1 months, 65676c; fins t months, 66 65c. California: Northern, 76076c; middle county, 66068c; southern, 60066c. Oregon: Eastern No. 1 staple, 86016c; enstern clothing, 16076c; valley No, 1, 6670c. Territory: Fine staple choice, $50Oo; blood combing, 70 7c; blood comb ing, 63&66o; hi blood combing, 4246c; tine and tine medium clothing, 65O70e. Pulled: Delaine. 85090c; A A, 80086c; A su pers, 60070c. Mohair: Best combing, 28 030c; best carding, 22025 ' Sew York Money. New Tork, April 23. Prime Mercantile Paper 7H7?i .per centETAOINNUNU Kxchange Irregular. Sterling Demand, $3.82U; cables. $3.13, Francs Demand, 7.28c; cables, 7.30c. Belgian Francs Demand, 7.38c; cables, 7.41c. Guilders Demand. 34.$J4c: cables, 84.71c. Lire Demand, 4.70c: cables, 4.72c. Marks Demand, 1.4Se; cables, 1.49c. Greece Demand, 6.47c. Argentine Demand, SI. 87c. Brazilian Demand, 14.00c. Montreal 11 per cent discount. Time Loans Steady; 60 days, 60 days and 6 months, 6Vi7 per cent. Call Money Easier; high, 6 per cent; low, 6 per cent; ruling rate, 6 per cent; closing, 6 per cent; offered at 1 per cent; last loan, 6 per cent. New York Dried Fruit. New Tork, April 23. Apples Evapor ated, market nominal. , Prunes Firm. Apricots Steady. i Peaches Dull. Ealslns Steady. New York Dry Goods. New Tork, April 22. Cotton goods and yarns ruled steady today, wltn demand light. Silk goods were firm, but buyers declined to pay advances. Wool markets remained steady. Raw silk was easier. Chicago Potatoes. Chicago, April 22. Potatoes, old, teady; receipts, 64 cars; northern white sacked, 5cj$1.05 cwt.; new, dull; Florida No. 1, $7.007.60 barrel; No. 2, $4.75 E.00 barrel. South Side Woman Hurt as Steps From Car Suffers Head Bruises and In jured Arm Says Motor man Started Car Too Soon. While alighting from a Crosstown street car at Twenty-fourth and Poppleton avenue Thursday night at 9 Mrs, Bessie Newman, 128 South Twenty-fifth street, was hurled to the pavement and suffered bruises about the head and dislocation of the right arm. I She was taken to Ford hospital, where Dr. J. E. Pulver declared an X-ray examination would be neces sary to determine the extent of her injuries. Mrs. -Newman told the police the motorman started the street car be fore she was fully clear of the step. The motorman of the car waa J.-V. Lowery, 3946 U street, and the con ductor, H, L. Hibbert, 2929 South Eighteenth street. ' M. W. A. Camp Votes $1,200 To Send Drill Team St. Louis South Omaha camp, No. 1093, Modern Woodmen of America, at it3 meeting Thursday night voted to ap propriate $1,200 to send the drill team to the national encampment in St. Louis in June, there to. compete in the maneuvers held every four years by teams from all sections of the country. The South Omaha team is com manded by Capt. A. E. H. Thomp son and expects to contest for high honors at the encampment. , Child Falls From Viaduct Playing with his two small broth ers oil the stairway on the south side of Q street viaduct yesterday, Paul Wolkin, 2yi, young son of Mrs. Anna Wolkm, 5318 South Twenty seventh street, lost his balance and fell IS feet to the Union Pacific tracks below. Police surgeons ad ministered first aid and the young ster was taken to the South Omaha General hospital for observation and treatment for possible internal injuries. Lincoln Trade Excursion Plans Stops at Pawnee City) Pawnee Gty, Xcb April 2J.-- (Special.) Lincoln business inert will' visit here on their booster en cursion May -0. A band will m- company them and a Lincoln boote program will be executed. , Hens on Job Wj&t Point, Neb., Apil 22. (Spet cial.) The Baumann Co. stores hava just shipped their second car of eggs this month. The two cars shipped contained 336,600 eggs, South Side Brevities Fifteen Harts si-ngers, $J,60 each. Frank Byers, Route No. 6. To let, May 1, store room, 4708 S. 24th. St, in one ot the best retail location on South Side. Rent reasonable. AI L. Berqulst. Adv. - Railroad salvage, high-grade furniture, new and used; Iceboxes, $4 up; new cot tone mattresses, $6; garden tools, E. Vaks, 2610 N Bt. 6o. 2370. Adv. AN UNUSUAL OFFERING FOR APRIL ONLY We offer $37,500.00 REAL ESTATE FIRST MORTGAGE COUPON BONDS NET 1 0.20 FTREE For 4l2 Years DENOMINATIONS: $100.00, $250.00, $500.00 $1,000.00 nd $2,500.00 Dated Sept. 1, 1920 Due Sept. 1, 1925 INTEREST PAYABLE Mar. 1 and Sept. 1 TODAY IS HBRE -Tomorrow Never Comes CALL AND SEE US Guaranty . Securities Company AND The Pioneer State Bank Farnam Street Entrance Securities Building OMAHA, NEBRASKA EVERYBODY TRADES AT Try Us First PHIL PS See Our Window? THERE IS A REASON Our inexpensive location enables us to sell better merchandise for less moneny our rapid growth proves beyond a doubt that we have always given onr customers satisfactory merchandise at the right prices. . ' People that trade at our store once trade with us always. Wa inTite you to see our window for Taluas and prices, It will satisfy you and everyone to know that the Philip's Store is the greatest value-giving store in Omaha. ' , " 15,000 Gingham Aprons The best made, in all the latest styles and patterns, beautiful ma terials in dots, stripes and checks. QQ- Regular $2.50 values, on sale, special atvOC 36-inch Victor Percale; light colors, different figures, exceptional values, i f on sale at, a yard..... IOC 36-inch Artillery Miulin Best quality,' reg ular 39c value; on sale, 1 C special at, a yard IOC Children's fine and hevay ribbed, long wearing stockings for boys and girls, in black and white colors, angular 30c values; on sale 1 C at a pair. ..'.................'.......IOC Ladies' black lisle hose, exceptional values, pair, for Men's lisle hose, in gray, tan and g i (f black, 8 pairs for J 1 UU 15c Girls washable gingham dressesfrom 2 tr 14 years. When one considers the smartness of the material in these dresses and its delightful ap propriateness for summer wear, it seems all the more remarkable that they can be offered at this price. They were secured through a special purchase that enables us to place these remark able dress values before you at the unheard- 5!?rr ... .. ,$1.49..a $1.98 Men's Underufear This underwear consists of men's finest made union suits in short and long sleeves, made of lisle, ailk lisle and mercerized materials, white and ecru colors, lghtweight for spring and sum mer wear; sizes 34 to 46. Values up to $6.50, on sale special at, . ' Ai aa per suit..... ,..;..!........ ipleUU Woolly Boy Standard Clothes For Boys The Suit With the 24 Special Features, Extra Trousers Extra Trousers TVTa tlatTA llnB VA.V AwfnnslA S TJ - 7 .. 1 . . 1. ' . ...... vt.. T.j viuu.ic in wiiustuiis wnu mcycr bids., .eauiug manuiacturers or oys cloth ing, for the exclusive agency for the Woolly Boy Clothes. These boys' suits are made of the Terr Wt wool worsted fabric, each garment beine fully guaranteed to flrivenprfpr-r. t;. h n. ,. . VAliUU - . VMV4 SV-1 V IVU1K 4V U MJ U faction. These suits reguarly sold at $25. On sale now at Boys' Pants 650 pairs of Boys' Pants in serges, worsteds, khaki, etc., in aU colors and patterns, in sizes 4 to 18. These pants are cut full and roomy, reinforced seams. Exceptionally well made throughout and made to give excellent service. Pants that any boy would be Oft -proud to wear, on sale.... ...... ...r. Bey' Cap, in all the latest colors, aq styles and patterns, on sale In Our China Dept. Chinaware 27-piece set of imported English Chinaware made by the Alfred Meakin Co., beautifully, dec orated, consisting of 6 large dinner plates, 6 breakfast plates, 6 cups, 6 saucers, one bowl, one cut-glass sugar and one cut tf C fff glass creamer, all for vOsuu 44-piece set of the best imported Chinaware, dec orated with different beautiful de- o if signs, on sale, special, per set. ..... PO O Water Sets Exceptional offer of star cut water sets, con sisting of one large pitcher and six tumblers. Very specially priced at, 1715 per set...... vie O Cut Glass Sugars and Creamers. DOC and 91.5U per set. . In Our Shoe Dept. . We Have Them AU Bested' on Shoe Price Our ah4 prices are much lower than those quoted elsewhere for the same superlative quality Every pair has been made for our regular spring stock. Many different models are included for" dress for street for sports for afternoon .' xur Business wear. Straa Oxford I I I sTi U U Slipper, specially Q Q 0 1 S F-" Priced 'atyJiOj, p iWork Shoes for Men Shoes 'ump These were originally designed as work shoes, but their appearance has made them all-around, every day footwear. Every seam and all mate rials are cut, designed and put together for the best comfort and longest wear. Excellent for camping, outings and other outdoor (9 no VsaitVI wear. Boys' Shoes SPECIAL , Boys' fine quality dress and school shoes, made by the best manufacturers in the country and made to give satisfaction, oh sale, dQ QQ special, at p.sea70 Leather Slippers The Worth-While Kind It is the good old kind of leather slipper that always pleases, at $1.98 i D YLn 0 Twenty-fourth and O Streets South Omaha Ask for Greea Tradiag Stamp They are Civ. With Each Parch V i