m v
THE BEE: OMAHA. WEDNESDAY, MAY 4. 1921.
13
1
.A
irjr
I
1
i
V
rv
J
$230,000,000 in
Bonds Issued By
Two Railroads
Underwriting of Great North
ern and Northern Pacific
Second Only to Deal of U.
S. Steel Corporation.
By HOLLAND.
To underwrite a bond issue the
aggregate of which is $230,000,000 in
volved not only very skillful ar
rangements,' but co-operation with
the leading banks and private bank
ers whose business as a whole covers
the entire United States. Yet it
has been accomplished and like other
large transactions of that character
which have been successfully under
taken, this underwriting of the
Northern Pacific and Great Northern
, joint bond issue was performed un-
i t er the leadership of J. P. Morgan..
lhe incident seems to have at
tracted little public attention. And
yet with two or three exceptions it
is, in the amount involved, the larg
est transaction of the kind ever un
dertaken by American bankers. In
fact there are very few records of
like transactions undertaken and
completed in London. Occasionally
the comment has been made that Miis
transaction makes a record in the
magnitude of the amount involved.
This statement, however, is not ac
curate. A few weeks after the
European war began, at a time when
business and finance were brought' to
a stand still in this country and the
ity of New York was in danger of
the humiliation of having its notes
protested in London for nonpayment
Air. Morgan organized two under
writing syndicates. Together they
almost equal the recent railroad un
derwriting. They were relief syn
dicates pure and simple.
Could Not Get Exchange.
New York City had arsnts In plenty, but
could not procure tho exchange which waa
needed If ths obligations about to be
come Ju In London war to ba met.
American Importers and others who warn
carrying on large business across tha seaa
and who possessed credit In abundance,
s as well aa ample assets nevertheless ware
I unable to eecure exchange with which to
I meet obligations about to become du
i.ondon.
.Mr. Morgan was at that time put to 'tha
first serious test of his ability to Justify
the confidence that he would ha recog
nised as a worthy successor of his father.
Jle organised two syndicates within a few
days and was compelled to use very earn
est persuasion In onlor to secure the
amounts which were needed. $100,000,000
I'l gold In esch case. Jtut ha did obtain
the gold and caused It to he shipped to
Ottawa, which was equivalent, so far as
financing operations were concerned, to
sending It to the Bank of England. Wlth
. In a week the American deadlock In busi
ness and finance was ended. Within a
few weeks the federal reserve system was
in operation and not since that day has
there bemi a tlm when the Unitad States
has been embarrassed.
Another (treat I'nderwrttlng.
A year later Great Britain and Prance,
finding that the need of funds was 1m
psratlvj, approached the American mar
kets. A group of distinguished citizens
of Great Britain and Prance came to the
Vnlted States In the hope-that it would be
possible to negotiate a loan of $1,000,000.
000. Mr. Morsran was called Into consul
tation. He said frankly that It would
be Impossible to underwrite and float
a loan for ao great an amount as $1,
, 000.000,000. but he was confident that a
loan of $500,000,000 could be underwritten
I hihI absorbed. Again he organised an un
di rwrltlng syndicate which was to pledge
itself to accept the $500,000,000 loan.
Tlieso enormous underwriting undertak
ings are now traditions of the war days.
They demonstrated to the world the In
herent strength of the United .m.t.
However another great underwriting syn-
Trsie peneciea long netore tne European
war was organised by the senior J. P.
Morgan for the purpose of making sure
of the absorption of something like $."00,
000,000 of the common stock of the United
States Steel corporation. This underwrit
ing not only made a record not yet ap
proached but wss successful from every
rolnt of view. The members of the un
iterwrltim.' syndicate received gratifying
profits for their share.
Transaction Complete.
But the recent underwriting of the
Oreat Northern and Northern Pacific
bonds. $230,000,000 In all, Is second only
to the underwriting of the common stock
of the United States Steel corporation.
It must have entailed prolonged and very
careful consideration. It involved the
mobilizing of the financial strength of the
American banks and of the leading private
hanking houses. Of course there has been
some doubt about the ability of the syn
dicate to persusde the public to accept
these bonds because there atllt seems to
be some apprehension respecting railroad
credit, and strength. But ths transaction
so far as the railroad companies are con
cerned la complete. H was made at a
time when there was to be special ad
vantage In demonstrating to the Amer-
'rlan people and to the world as well
hat the Inherent flnanolsl strength of the
United States Is and that nothn ithstand-
i lng the business crisis which some have
said has prevailed for several months,
nevertheless fundamentally the country
Is sound and tha American banks are In
position to handle ttansactlona of magni
tude and of vital Importance.
Bond.
The following quotations are furnished
by Logtn & Bryan. Peters Trust building:
Am. Smelt. & Rfg. ts 76 7H
Am. Tel. Col. 6s. 1141 8214 83H
Armour His. 13$ 71 794
B. A O. Ref. 5s, 1995 69
B. & O. Cvt. 4 Vis, 133 6H0 (6
Cal. Ga Unl. 5s, 1037 1510 B
C, M. & St. P. Gen. 4V,, '32.. 43 S 44
C, M. A St. P. Gen. & Rf. 4Hs 58 59
C. R. I. A P. Ref. 4s, 1934 ttO 7
I). & R. O. Col. 4s. 1S6...... 4 64 Vi
Gt. Nor. 4Hs. 161 7740 71
III. Central Joint 6a, 1$3$.... 786 74
JIo. Pac. Ref. 5s. 1923 tt 90
Jto. Pao. Ref. 5s, 102$ 82 84
Pae. Gen. 5s. 1175 t f? 7814
lo Grande W. 1st 4s. 1939... 63 64
fSt. L. & 8. F. Gen. 6s. 1927.. IH St4
St. L. & 8. F. P. L. 4s. 156.. 604(0 61V4
St. L. S. P. Adj. 6s. 19S5.., 66Vi0 66VJ
O, I. 1 I TnA - 41. 4 RA
fciTL T. ft S. w. Inter, 6s, 1953.. 5Slp 6
Ss"tlon 6a. 1941 87 0 It
K. C. Sou. 6s. 1959 75 0 75
C. G. W. 4s, 1959 SI 0 11
Sea Bat 4s, 19S9 40 0 40
Colo. Southern 4H. 193S 7IH0 74
C. ft O. 6s im$ 13
I. B. T. (s 660 58
. pud. ft Man. Ref. 6a (6 0 66
New York Coffee.
Neir Tork. May 3. The market for
coffee future was quiet today, but prices
advanced on a moderate demand which
was encouraged by the advano In Santos
and reporta of a better feeling In Wall
Btreet and some of the other commodity
markets. After opening 1 to I points
, higher, active months sold about I ts II
points above last night's closing quotations
with July touching 6.08o and September,
6. 4 Sc. Latest prlcea were within a point
or two of the best, showing a net ad
vance of t to II points. May, 6.71c; July,
t.OGc; September, 6.46; October, t.60; De
cember, 6.96c; January, 7.06c;. March
T.!5e,
Spot Coffee Quiet: Rio 7. 1 to (c;
Santos 4s. 1 to tc
New Tork General.
New Tork. May I. Flour Firm; spring
? stents. $8.0008.50; spring clears, fl.Z6
,25c: winter straights. $6.7507.06; Kan
sas straights. $7.75 0 $.00.
Buckwheat Steady; milting, 12.80
nominal.
Wheat Spot strong: No. 1 red, 11.11;
No. I hard. 11.71; No. 1 mixed durum,
11.(4 c. 1. f. track New Tork to arrive:
No. 1 Manitoba, $1.87 c 1. f . track. May
shipment.
Corn Spot, firm: No. I yellow and No.
I white. $4Uc: No. I mixed, 84o e. L t.
New Tork 10-day shipment
Oats Spot, firm: No. 1 whit. 6O05Oc.
Lard Easy; mlddlewsat, I.IS0$.75.
Other article unchanged.
New Tork Dried Fruits.
New Tork, May I. Apples Evaporated,
nominal.
Prunes Active.
a Apricots Firm,
'peaches Steady. ,
Raisins Quiet.
Kansas City Product.
Kansas City. May $. Egg Market un
hanged. ,
Butter Creamery 1 lower, lis; pack
tag unchanged.
Poultry Hens lo higher; roosters and
broilers) unchanged.
Kansas City fUy,
Kansas City, May I. Hay Onchanged.
Market, Financial
Live Stock
Omaha. May I
Cattle Hogs Shssp
, 1,916 9.110 6.118
, 4,600 9.000 7,300
. 8.416 18,110 13,388
16 942 25 661 19 289
.16.969 18,466 10,618
, 8,867 24,099 17,80$
16,666 31,089 9,108
Receipts were
Official Monday
Estimate Tuesday ...
Two days this week..,
Same days last week,,
Sam day 1 wks. ago
Sam day I wks. ago
Sam day year ago..
Receipts and disposition of llv stock
at the Union Stock Yards, Omaha, Neb.,
for 24 hours ending at 3 o'clock; p. m.
yesterday:
RECEIPTS CARS.
Cattle Hogs Sheep
Wabash 6 S
Missouri Pacific 3
Union Pacific 36 ..1
C. ft N. W, east t 1 1
C. ft N. W., west 37 43
C, St. P.. M. & 0 20
C B. Q., east 8 1
C, B. ft Q.. west 26 4 S
C, R. 1. ft P., east 20
C R. I. ft P., west 2 1
Illinois Central a 3 ..
Chi. Ut. West S 1
Total Receipts
DISPOS1TION
Morrls Co
..191 124 31
-HEAD.
656 84$ 746
944 1,787 1.633
683 1,958 2,219
819 l.iii 1.13$
.... 134 ....
.... 2.008 ....
65
11
71 ....
8
23
7
7
10
119
14 .... ....
, . . iiio , , .
94 ....
41
33
14
13
62
40
65
1
16
46
37
609
1
68
80 ....
3
7ii 833 293
886 .... 657
i.663 9,543 7.0S5
Swift ft Co
Cudahy .Packing Co
Armour ft Co
Schwarts Co
J. w. Murphy
Lincoln Pack Co
So. Omaha Pack. Co....
Itlgglna Packing Co....
Huffman Bros
John Roth Sons
Mayerowlch ft Vail ....
Gtaasberg
r. O uea
Wlson ft Co
W. B. Van Sant ft Co...
Dentun ft Van Sant ....
W. W. Hill Co ...
F. P. Lewi
Huntslnger ft Oliver ...
J. B. Root ft Co
J. H. Bulla
K. M. Burruaa ft Co
F. a. Kellogg
Werthelmer ft Degen ...
Sullivan Bros
Mo.-K.an. C. & C. Co....
K. o. Christie
Baker
John Harvey
Jensen & Lundgren ...
Dennis ft Francis
Omaha Packing Co
Midwest Packing Co....
Dold Packing Co
Other Buyers
Total ...
Cattle Receipt of cattle were pretty
light again today only about 4 600 head
being reported In and aa other market
also bad light runs steer trad was again
active at a general advance of 15025c.
Quite a few good to choice cattle made
$6.0008.10 the latter price being top In
the absence on anything real prime. Cows
and heifers were fully 26c higher and
stock e is and feeders were nominal, noth
ing of any consequence blng on sale. So
far this week steers are around 50c high
er while cows have advanced 60076c.
Quotatlona on Cattle Choice to prime
beeves. $7.8608.25; good to choice beeves.
$7.6007.86; fair to good beeves, $7,000
7.40; common to fair beeves, $6.0007.00;
good to choice yearlings. $7.6508.05; fair
to good yearlings, $7.2607.60; common to
fair yearlings, $6.8607.00; choice to prime
heifers. $7.0007.60; good to choice heif
ers. $6.0007.00; choice to prime rows,
$6.6007.00; fair to good cows, $6.2606.75;
common to fair cows $2.0004.60; good to
choice feeders $7.2607.60: fair to good
feeders, $6. 501? 7. 25; common to fair feed
era, $5.7606.60; good to choice stockers.
$7.0007.50; fair to good stockers, $6,250
7.00; common to fair stockers, $6,000
6.00; Stock heifers, $4.6006.00; stock
cows, $3.7605.00; stock calves. $5,000
7.25; veal calves, $5.0009.50; bulls, stags,
etc., $4.7507.00.
BEEF STEERS.
No. , A v. Pr. No. A v.
Pr.
$7 70
7 85
8 00
8 15
I 30
17 841 $7 65 24 J000
21.
,.1009
,.1195
..1390
..1410
7 75
7 90
8 10
12 981
13..
87..
20..
18 1828
17 1656
11 1065
8 25
STEERS AND HEIFERS.
9. .
33..
11..
16..
9..
8...
..
15..
I ...
. .. 901
... 706
. .. 783
... 963
... 610
... 67o
... 611
... 784
. . .1050
. ..1223
. .. 541
... 706
... 416
7 25 18 870 7 35
7 40 8 877 7 60
7 15 14 605 7 75
8 00 16 963 8 20
YEARLINGS.
7 20 13 560 7 26
7 35 23 823 7 60
7 75 46 180 8 00
I 25
COWS.
6 30 7 1381 J 10
7 15
HK1FERS.
6 35 30 864 7 65
BULLS.
6 90
CALVES.
7 00 2 145 7 25
7 60 13 151 I 10
9 60
3
8....
8
IS....
1
260
180
3.
Ttors About 1.000 hogs were received
today and trade was featured by an ac
tive packing demand at prices 15 026c
higher. A good hhare of the receipts sold
at the full advance and a creditable clear
ance made early. Shipper picked out a
few load of bacon and light butcher
hogs, but shipping outlet at the present
time is not very broad. Best light hogs
topped at $8.00 and bulk of the receipts
old at a spread of $7.2507.76.
HOGS.
No. Av.
61. .321
60. .305
S3. .266
64. .272
85. .188
71. .211
53. .526
Sh.
2S0
80
Pr. No. Av. Sh.
Pr.
7 35
7 45
7 65
7 65
7 75
7 85
8 00
$7 10 66. .812 140
7 40
7 50
7 60
67. .235
71. .271
140
69. .265
76. .260
80. .235
16. .177
40
40
7 70
7 80
7 90
40
Sh. on with 7.200 sheen and lambs on
sale this morning trade was slow in get
ting started, butvery little change oc
curred in prices. In most respect the
market was slow, steady with an "
tendency. Good wooled lamb are till
quoted up to 110.76, with shorn grade
about $1.00 lea sthan wooled offerings.
Some choice native springers sold today
at $12.60. Fat sheep were scarce and
quotably steady, with fat ewes in good
request up to $7.25.
Quotations on sheep! Best fat lamb,
$10.40010.76; medium to good lambs,
$10.00010.35; plain and heavy lambs, $8.75
09.75; shorn lambs. $8.5009.86; good to
choice ewes. $6.7507.26; fair to good
ewes. 16.0006.50; cull ewes, $150 03.60.
SPRING LAMBS. ,
No.' At. Pr.
811 Calif. il 1
FAT LAMBS.
140 Colorado " J "
611 fd i I- l
461 fed .0
FAT EWES.
400 Colorado 101
CULL LAMBS.
U Calif.
Chicago Live Stock.
Chicago. May 1. Cattle Receipts. 7,000
head; beef steers, 15 to 25c higher; top
yearlings, $9.50; top heavy steers. $9.10;
bulk beef steers, $7.7508.60; butcher she
stock, bulls and stockers strong; bulk fat
cows and heifers, $5.6006.60; bulls largely,
15.6006.60; calves unevenly higher; bulk
of vealers to packers. $9.6001.60.
Hogs Receipts, 19,000 head; active It
to 15o higher than yesterday's average:
close strong; top, $8.70; bulk of sales, $8.10
08.60; pigs steady to 15e higher; 100 to
120-pound pigs, $7.1507.75.'
Sheep and Lamb Receipt, 10,000
head: mostly steady; some shorn lambs
late 25s higher; wooled lambs top, $11.25;
shorn top, $10.15; bulk, $9.0008.75; choice
heavy shorn wethers, $6.75.
Kansas City Lire Stocks.
. Kansas City. May I. U. B. Bureau of
Market.) Cattle Receipts. I. COO head;
beef steers and- fat sh stock, strong to
15c higher; top yearlings. $9.00; medium
weight stsers, $8.75; bst heavies, $8,100
8,66; Colorado pulpers, $7.3607.15; stock
era and feeders, strong to 250 higher; all
other classes strong; good and choice
cows. $6,2601.75; yearlings and heifers,
$1.00: practical top on vealers, $9.69.
Hogs Receipts 16.000 head; market 10c
to 26o higher; extreme close. 10 025c;
higher than yesterday's average; top,
$3.15; bulk of sales, $7.66 01.11; pigs
steady.
Sheep Receipts. 1.000 head; sheep
steady; shorn Texas wethers, $6.90;
wooled lamb steady to 25o lower, mostly
steady: top, $10.76; most light bands.
$10.16010.60; 18-pound kinds. $9.85.
Sioux City Ut Stock.
Sioux City, la.. May 1. Cattle Re
eecipts, 1,000 head; market strong; ted
steers and yearlings, $6.0008.(0; fat cows
and heifers, 84.0007.76; canners, $1,500
1.(0; veals, $6.0001.(0; feeders, $6,000
7.00; calves, $4.6006.25; feeding cows and
heifers. $4.0006.15; stockers, $1.0007.15.
Hogs Receipts, 6,000 head: market 100
16o higher; light, $7.7607.85; mixed, $7.50
07.70; heavy, $7.0007.46; bulk of aales,
$7.3507.65
Sheep Receipts, lot head; market
steady.
St. Joseph Llv Stock.
St. Joseph, Mo..' May 3. Cattle Re
ceipts, 1.000 head: market mostly 15c
higher: yearlings, 16060c higher; steers,
$7.7608.75; cows and heifers. $4.0008.71;
calves. t6.OO0t.l(.
Hogs Receipts, 1.000 hesd; market, IS
025c higher: top, $8.25; bulk, $7.7608.15.
Sheep Receipts, $.000 head: market, 15
016c lower; lambs, $6.71010 76; ewes,
$6.1607.16.
Du'.ulh. ll.n:;.. May Z. Linseed on track,
$1.46 01.64, arrhe. $1.61. 1
Financial
Chlc&ge Tribune-Omaha Bee Leased Wire.
New York, May J. In the pro
cess of industrial readjustment, the
action of the United States Steel
corporation in reducing wages by 20
per cent as announced today, stands
as one of the most important de
velopments in recent weeks. Some
thing of a deadlock has been es
tablished between price recessions
and labor costs, which only action
by the largest producer in the coun
try could break. There was, of ne
cessity, a point beyond which the
lowering of prices could not go with
out creajing deficits because of the
higher cost of labor involved in the
production of the ' manufactured
goods. Briefly there was somehting
of a stabilization established in the
labor market, while contraction was
troing on in the price schedules.
This was uneconomic, it was a situa
tion which could not survive, but
while it did exist, the course of real
contraction was halted and basis
for a real deflation was impaired.
Wage on Decline.
Thus far the brunt of readjustment
has rested elsewhere than on labor. Now
labor throughout the country, whether on
the railroads or In the manufacturing
Industries, must accept Its shsre of re
sponslbllty. Falling commodity price and
the continuation of wages at or near
the peak could not continue In direct
opposition to each other, and since prices
gave way first, wages had to follow.
News of the wage cut developed too
late to be of Influence on the stock mar
ket today. During the day. aa was to
bo expected, quotations eased off with
some sharp declines In the more volatllo
Issues. The passing of the preferred
dividend by the American Cotton Oil.
company was disturbing, especially In view
of the record of dividends paid regularly
for some 30 years. ...
T, fnreim eichance market continued
It buovancy. Starling touched a high
of $3.97 In the early morning, an ad
vance of lc over the previous close. One
has to run back through the record to
June $3 of last year to find a better
price. - '
The upturn In French franc aleo con
tinued, a price of 8.04o being recorded,
which was more than 21 polnta abov the
final Monday.
New York Quotations
Range of prices of the leading stocks
furnished by Logan ft Bryan, Peters Trust
building:
RAILS.
High Low Close Mon.
Close
A., T S. F $14 85 82', 82
Baltimore ft Ohio 37 S 36 87 36
Canadian Pacific. .111 , 111 113 1J2
N. T. Central 70 70 70 70
Ches. ft Ohio flj
Erie R. R U 1 JJ '?
Ot. North'n. pfd.. 714 71 71 71 'a
Illinois Central.... 91 91 '4 1H
Kan. City South'n 27 H 26 26 26
Missouri Pacific. 18 18 li 18 H
N T N H ft H 174, 17 17 17
North'n Pac. Ry.. 74 73 4 73 44 73
Chi. ft N. W. ... 63. 63 63 63
Penn. R. R 36 34 35 2j
Reading Cot 76 74 74 73.
C.. R. I. ftP. ... 2 !8K 28 28
South'n Pac. Co.. 762 75 WV'-JJJi
Southern Ry 23 31 "fi J
Chi., Mil. ft St. P. 26 26 26 2j4
tT.ln. r.nifle 117U 116W 1161, 116 '4
Wabash "
STKELe.
Am. Car Fdry...l28 1274 li 1!
Allls-Ch. Mfg 38T4 38 38 88
Am. Loco. Co 91 90 90 90
Utd. Al. St. Corp.. 31 31 31 31
Baldwin Loco. Wks 91 89 91 91
u.th steel Corn.. 614a 60 61U 61
Cruc. Steel Co 84 82 83 83
Am. StI. Fdrs.... 80 30 30 SO
Lack. Steel Co.... 63 62 62 63
Midva e St . Ord... ztn. is
Rep. I. A StI. Co.. 66 64 65 640
Ry. Steel Spring.. 89 89 89 89 i
Slos-Sh. Stl. ft I.. 43 43 43 43
U. 8. Steel 84 83 84 83 '
(.OrPKKS.
An. Cop. Mln 42 41 41 41
Am. S. ft R. Co.. 44 43 48 44
vi a. 9 Mln fn If, 4 16 Id 16'i
Chile Cop. CO 11 11 , Ifjf
( hlno trop. l-o.... ; j
Insp. Con. Cop... 17 $6 16 37
eKnnecott Cop. ... 21 21 St 21
Miami Cop. Co.... 13 21 , " 28
Nev. Cons. Cop. Co jz n Jf
Ray Cons. Cop. Co 14 14 14 14
Utah Copper Co... 66 54 64 (6
INDUSTRIALS.
Am. Bt. Sugar Co. 40 39 39 40
Atl O & W I S S 41 19 41 40
Am. Inter. Corp... 62 (0 60 (2
Am. Sum. Tob. Co 71 - 71 71 72
Pacific Oil 88 88 IS 88
Am. Cot. Oil Co... 83 19 20 12
Am. Tel. ft Tel... 108 107 107 106
Brook'n Rap. Tran.. ..... 1J
American Can Co. $2 31 81 81
Chandler Mot. Car 84 8S 81 84 4
Central Lthr. Co.. 39 SS 88 39
Cuba Cane Sug. Co. 10 20 10 19
Cal. Pack. Corp.. 60 59 60 59
Cal. Pet. Corp. ... 47 46 464 47
Corn Pdct Rfg Co 76 74 76 74
Nat Enam, Stamp 61
Flsk Rubber Co... 174 "K 17 17
Oen. Electric Co.. 137 137 187 1374
Gaston Wms., Wig. 1 1 1 1
Gen. Motor Co... 14 14 . 144 14
Goodrich Co 41 41 41 41
Am Hid. Lthr Co H4 " " 1J
HasVell, Brkr Car 58 68 68 65
V S Ind Alcohol Co 74 72 71 ' 72
Inter. Nickel .... 17 16 16 17
Internet. Paper Co. 66 63 14 64
AJax Rubber Co.. 87 86 36 .....
Kelly-Spr'gfld Tire 61 49 41 60
Keystone Tire, Rub 17 16 J6 17
Tnternat Mero Mar 16 15 15 15
Maxwell Motor Co. 6 6 6
Max. Petroleum. ..151 146 146 149
Middle State OH 14 14 14 14
Pure Oil Co S5 35 85 $5
Willye-Overland . 10 9 10 9
Pierce Oil Corp... 10 10 10
Pan-Am Pet, Tran 70 69 69 89
Plerce-Arrow Mot. 42 40 41 41
Royal Dutch Co.. 69 68 61 67
U. S. Rubber Co.. 78 76 76, 78
Am. Sug. Rfg. Co. 90 89 90 89
Sinclair Oil ft Rfg. 27 26 26 26
Sears-Roebuck Co. 83 81 81 84
Stromsberg Carb.. 46 44 ,44 46
Studebaker Corp... 90 88 88 89
Tob. ,-Pdets. Co... (4 61 (1 (4
Trans-Cont'tal OH. 11 11 11 12
Texas Co 41 40 40 41
II S Food Pr Corp 23 21 , 23 11
ITS 8m, Rfg ft Mln 10 83 38
White Motor Co... 43 43 43 43
West'gh'se El, Mfg 48 46 48 47
Am. Woolen Co... 81 79 80 80
Shares sold up to 2 o'clock, 829,700.
Money Close. 6 per cent; Monday's
close, 7 per cent.
Marks Close, .0164; Monday's close,
.0161.
Sterling Close, $3.tt; Monday's close,
13.97.
t
New Tork Bonds,
Ths following quotations are furnished
by Logan ft Bryan, Peters Trust building:
Atch. Gen. 4s 770 77
B. ft O. Oold 4s 46 0 47
Beth. Steel Ref. 6 810 82
Cent. Pac. 1st 4s T3 0 73
C, B. ft Q. Jt. 4 tt O 99
C. M. ft St. P. Gen. 4 30 64
C. ft N. W. Gen 4s 74 76
L. N. V. 4s 80 m 80
New Tork Ry. 4s 200 22
Nor. Pac. P. L. 4 740 75
Reading Oen. 4 770 78
U. P. 1st 4s 81 0 81
V. S. Steel 5s., 840 B
S. P. Cv. 6. ., 89 0 93
S. P. Cv. 4s 780 78
Penn. Con. 4 860 86
Penn. Gen. 4 75 76
C. A O. .Con. 6s 820 82
Ore. S. L. Ref. 4s 78 0 71
New Tork Cnrb Stock.
The following quotatlona are furnithed
by Logan ft Bryan:
Allied Oil '
Boston Montana
Boston Wyoming
Cresson Gold
Cosden OH ,
Consolidated Copper ,
Elk Basin ,
Federal Qll
Glenrock OH
Merrlt OH ,
Midwest Refining Co
Silver King of Arizona..,
Sapulpa Oil
Eimma Petroleum
Tonopah Divide
U. 8. Steamship ,.
V. B. Retail Candy ,
White OH
1
Jit
i
i
li e 12
..1470150
.. 10 0 20
.. 40 4
.. 110 11
..15-1(0 1
.. HO 11-14
.. 70 8
.. 150 18
.10 0 11
. 13 0 65
16-16 1
. 85
9HI
'. 10
. 10
London Money.
London, May 8. Bar sllvsr 14 d per
ounce.
Money Four per cent. Discount rates,
short bills, ( per cent, three month' bills,
101 Pr cent;
Bar SUrer.
New Tork, May 1. Bar 611ver Do
mestic, 91 He; foreign. 61 C.
Mexican Dollars 47c.
London Metal.
London May 3. Standard coppsr spot,
171, 7. Cii; eluctvoljtlo, 72; tin, U8. 3s,
; lead,. ill, 17s, fd; tine .'i. 7s. d.
b
and Industrial News of the Day
Omaha Grain
Omaha, May 3.
Cash wheat prices scored fresh ad
vances today, the market being up 4c
to Sc, the same as yesterday't upturn
and making an advance of as much as
10 cents in two days. Corn was un
changed to a cent higher. Oatt ad
vanced He to He. Rye was nor
mally 3c up and barley prices were
also higher. Grain receipts today
were light with wheat the bulk.
WHEAT.
No. 1 hard: 1 car. $1.44: 4 cars, $1.4$.
No. 1 hard: 1 car, $1.46 (smutty); 1
cars, $1.41 (shippers' weight); I cars.
i.i; i car, ii.u (imuuyi.
No. I hard: 1 car. $1.40 (58.1-lbs.
heavy); 3 cars, $1.39; 1 cars. $1.38.
No. 4 hard: 1 car, $1.38; 1 car, $1.37;
1 car, $1.37 (smutty).
No. S hard: 1 car, $1.40 (heavy, musty);
2-6 car, $1.27 (58.4 lbs., 18.6 per cent
durum): 2-3 car, (1.36; 1 cars, $1.15; I
cars, $1.34 (smutty).
Sample hard: 1 car. $1.38 (smutty, t.S
per cent rye); 1 car, $1.33 (durum).
Sample spring: 1 car, $1.18 (44.1 lbs.
aarK normern.
No. 2 mixed: 1 car, $1.40.
No. 3 mixed: ! cars, $1.3" (smutty).
CORN.
No. 1 white: 2 cars. 62c.
No. 1 white: 2 cars, 61c; 1 ear, 61c;
cars, eic; 4 car, ouc.
No. 3 whit: 1 car, 60c.
No. 6 white: 1 car. 48 c; 1 car, 47e.
No. 1 yellow: 1 car, 52c; 2 cars, 62c;
1 3-5 car, 62c.
No. 2 yellow: 2 car, 61 o.
No. 3 yellow: 4 cars, 50c.
No. 6 yellow: 1 car, 47c.
No. 3 mixed: 2 cars, 50o (near white);
1 car, 49c.
Nrf. 3 mixed: 1 car, 4lo (near white);
1 cars, 47c.
OATS.
No. 4 white: 2 nrs, 34c.
RTK.
No. 3: 1-1 car, $1.28; car, $1.22.
BARLET.
No. 4: 1 car, 61c
No. 1 feed: 1 car, 64c.
OMAHA RECEIPTS AND SHIPMENTS.
Today Week ago Tr. ago
Wheat 43 16 127
Corn 26 22 41
Oats 2 2 39
Rye , 0 1 10
Barley 0 0 1
SHIPMENTS.
Today Week as-a Tr sso
Wheat , 57 61 61
Corn 51 $0 51
Oats 7 t 13
Rye 0 4 6
Barley 1 0 t
CHICAGO CAR LOT RECEIPTS.
Today Wk. Ago Tr. Ago
Wheat 60 70 6
Corn 256 188 27
Oats ti 142 18
KANSAS CITT RECEIPTS.
1 Today Wk. Ago Tr. Ago
Wheat 91 88 80
Corn 11 18 29
Oats 2 0 i
ST. LOCIS RECF.IPTS.
Today Wk. Ago Tr. Ago
Wheat 69 64 26
Corn 49 II 40
Oats 85 21 12
NORTHWESTERN RECEIPTS OF
WHEAT
..Today Tr. Ago
Minneapolis 27t 107
Duluth '. 45 81
Total 324 188
Winnipeg 231 437
PRIMARY; RECEIPTS AND SHIPMENTS.
Today Tr. Ago
Wheat 762,000 644,000
Corn ; 646,000 1,302,000
Oat 464,000 502,000
SHIPMENTS.
Wheat 660,000 639,000
Corn 344.000 239,000
Oats 387,000 314,000
EXPORT CLEARANCES.
Today Tr. Ago
Whaat 475,000 227,000
Corn 94,000 6,000
Oats 187,000 ......
V. 8. VISIBLE.
Today Wk. Ago Tr. Ago
Wheat ..13,448,000 15,613,000 42,784,000
Corn 23,018,000 28,167,000 6.610,000
Oats ....30,740.000 31,001,000 7,160,000
Rye 1,641,000 1.617,000 15,660,000
Barley .. 1,729.000 1,730,000 3,862,000
OMAHA STOCKS.
Today. Week ago. Trl ago.
Wheat
401.000 461,000 1,678.000
Corn , .
.1.325.000 1.478.000 1.0(6.000
(lata ..
Ry . .
.1,005.000 967.000 430,000
. 48.000 63.000 61,000
6,000 14,000 7,000
Barley
CHICAGO CLOSING PRICES,
By Updike Grain Co., Doug 2627. May S.
Art. 1 Close. High. Low. Close. Test'y
Wht.
May
July
Rye
May
July
1.3B 1.43 1.34 1.42 1.84
1.10 1.12 1.09 1.12 1.09
1.22 1.37 1.32 1.36 1.31
1.05 1.07 1.15 1.07 1.65
.95 .97 .95 .97 .94
.68 .60 .58 .60 .88
.62 .68 .61 .63 .62
.64 .65 .64 .66 .64
.35 .36 .35 .35 .35
.38 .38 .37 .28 .37
.39 .39 .$$ .31 .39
16.30 11.30 16.30 16.30 16.06
16.60
1.85 CSS t.!7 t.32 9.37
9.76 9.76 9.62 9.63 9.77
( 9.37 9 37 9.17 1.17 1.18
I 9.60 I 9.73 9.60 9.71 t.60
Sept.
Corn
May
July
Sept.
Oat
May
July
Sept.
Pork
May
July
Lard
May
July
Rib
May
July
Minneapolis Grain.
Minneapolis. May 3. Wheat Receipts,
171 cars, compared with 107 cars a year
ago. Cash. No. 1, northern, $1.4201.(0;
May, $1.80 ; July. $1.18.
Corn No, I yellow, 62 0(le.
Oats No. I white, 12 0 lie.
Barley 47073c.
Rye No. 2, $1.30 01.91e.
Flax No. 10, 11.6001.70.
Minneapolis Flour.
Minneapolis, Minn., May $. Flour
market unchanged to 40o higher; in ear
load lots family patents quoted at $8,100
8.60 a barrel lnw8-pound cotton sacks.
Bran $16.00.
Bt. Lonls Grain. '
St. Louis, Mo., May I. Wheat May,
$1.41; July, I1.1J.14.
Corn May. 56c: July, 61.
Oats May, 37c; July, 3lc.
Kansas City Grain.
Kansas City, Mo., May I. Wheat, Sly,
$1.31; July, 11.0601.06.
Corn May, 61c; July, 65e; Septem
ber, (8c.
Omaha Hay Market.
Pratrl Hay Receipts 'moderate. Ex
cellent dmand for the better grade
Prices remain firm.
Alfalfa Receipt very light. Strong
demand for the better grades. Top
grades selling at a premium.
Straw Receipts light. Very little de
mand. Price firm.
Upland Prairie Hay No. 1, $11,000
11.00; No. 1, $10.06011.00; No. I. $7,000
$.60.
Midland Prairie Hay No. 1. $11,000
11 00; No. 2, $8.0009.00.
Lowland Prairie Hay No. 1, $9,100
9.50; No. 2, $7.0008.00.
Alfalfa Choice, $11.00023.00; No. 1.
$18.00020.00: standard. $14.00017.(0; No.
2, $8.60011.00; No. 3. $7.00 08 00.
Straw Oat, $8.00 09.00; wheat, $7.(0
08.00.
Liberty Bond Prices.
New Tork, May I. Liberty bond at
boon: 3s. 88.80; first 4s, 87.40 bid; sec
ond 4s, 87.11 bid; first 4. 87.60; sec
ond 4Hs. 87.44; third 41, 90.60; fourth
4s, 87.66; Victory 3s, 18.00; Victory
4s, 18.03.
Closing Liberty bonds: ls, 86.71; first
4s, 87.40 bid; second 4e, 87.16; first 4,
87.(6; second 4s, 87.34; third 4, 10.64;
fourth 41. 97.44; Victory 3s, (8.04;
Victory 4s, 18.00.
New York Dry Goods.
New Tork, May I, Cotton good mar
kets were steady today, with demand
broadening in unfinished goods. Pur
chases of cotton yarns for Roumanian
mills backed by the Roumanian govern
ment, were (till under negotiation, wtth
southern yarn spinners. Silk fabric mar
keta were moderately active. The carpet
trade expect that the large auotlon Mon
day will complete the revision of price.
Men's wear line were quiet.
Turpentine and Rosin.
Savannah, Ga., May J. Turpentine
Market steady; 64c; sales, 75 barrsls;
receipts, 701 barrels; shipments, 20 bar,
rele; stock, 6,666 bsrrels.
Rosin Market firm; sales 1,070 casks;
receipts, 1,410 cask; shipments, none;
stock, 71,136 casks.
Quote: B, $3.76; D. $3.10: E. $4.10: F,
$4.2$: O. $4.15; H. $4 40; I, $4.$0; K, $4.60;
M, $4.75; N. $(.00: WO. $6.(0 WW, $6.00.
New Torfc Sugar.
New Tork, May I. Th local market for
raw sugar continued quiet and price
continued unchanged at le for Cuba c.
1. f., equal to 4.19c for centrifugal. There
were sales reported of 10,000 bags of
Cuba In utore at .Cuba nt 3c ex-warehouse
to complete a sigo to Europe.
There were no sales in the local market.
Chicago Grain
By CHARLES D. MICHAELS.
Chic Tribune-Omaha Be Leased Wire.
Chicago, May 3. Strength in cash
wheat markets everywhere is taken
as indicating that the United States
is on a domestic basis. This belief
is shared in not only by many of
the traders here, but also at the
seaboard the latter are in practical
control of the May wheat and its
strength is reflected in other grains.
It was hard to buy grains without
advancing prices today and they ad
vanced and closed around the top,
with May wheat up 8 cents and July
3 cents. Corn gained 3-4, 1 l-4c,
oats, 3-8l-2c, and rye 2 3-45c.
Foreigners who refused to buy
wheat Monday because of the ad
vance in price paid more money to
get it today and bought with in
creased freedom. That conditions in
Central Europe are such that sup
plies are needed is indicated by the
action of buyers, who have taken 1,
lOd.OOO bushels in the past two days,
Germany taking wheat for May ship
ment while Belgium bought for last
half of July. Norway was also a
buyer, Ctles asked ' for offers of
wheat and seaboard exporters are
finding it hard to get, which con
firms their views of scarcity.
May Wheat Grain.
May wheat advanced to $1.48. the high
est since March 29, showing a gain of 130
over the recent low. From $1.89 up the
market ran Into stop loss orders which
accelerated the bulge. AVagner was a
heavy seller, while the buying was general.
July was strengthened by the advance In
May and moved up to $1.12 with the
close at that figure, or 11 cents over the
recent low and the best figure since April
11. Th May-July spread at the last was
30c, th greatest on th crop.
Cash wheat here xa up the aame as
May, while th ou. ,d markets advanced
3 to 7 cents with S:. Louis leading, millers
being In ths market there.
Com Is movlnsr out from Chicago at a
rapid rate, there being cancellations of
warehouse receipt or szy.uoo ousneis on
Monday and shipments were 1,070,000
bushels, against receipts ot only 267,009.
Buying was scattered and mainly by com
mission house, while the local pit element
was bearish and fought the advance, yet
May moved tip 10 to 60o and held
around there at th cloe, while other
month wer Up lo to ljc. Cash prices
were steady to o higher.
Oats Active.
September oat wer bought by com
mission houses and local traders. Wagner
sold July early and bought September on
the bulges. Price moveq; up c at me
extreme and closed at the top. Crop re-
report wer less favorable, particularly
from Iowa where frost Monday night dam.
aged the grain. Forecast was for frost
all over the west. The east Is taking oats
freely, especially for lake and rail ship
ments with sale in all positions 38O.000
bushels. Cash prices were c higher with
No. 2 whit l02c over May and No. I
white 01o over. Keceipts ss cars.
Reaboard exporter wer after rye and
bought 60,000 buhel cash In all positions
at 17o over May, track Baltimore, and 6c
over May, c 1. f. Burraio. am momns
were hard to buy and especially May. The
eaboard controls th May contract the
am a wheat. Receipts I cars.
Pit Note.
Th nin nf the United States Grain
Growers. Inc., which wa formulated by
the farmer' committee of 17, Is to put all
the present grain exchanges of tho coun
try out of business and have their own
r,in nhatitiiteri. They propose to handle
It through a pooling proposition and no
trrfin in futures If they get control. They
are very active In the Springfield, t,Ill.) leg
islature and unless in memuers ui w
grain exchange exert great pressure to
defeat the measure In Illinois and other
states a well aa congress, there will be
no open markets for grains. There would
be no further trading; everything .would
b fixed by the pool, which proposes to
supply all the market Information and
the prices. ,
- May ,what 1 congested and has prac
tically cornered itself. There la prac
tically no stock hr except such as la
sold to go out. The esaboafd exporters,
and a few local trader are aaid to con
trol the market and price havo advanced
steadily of late. May wheat Is up over
15 cents. Farmer should not object to
advancing prices and they are probably
satisfied with the present move. On tnsj
advance May wheat came out freely, giv
ing the prlc a setback of lc.
Predictions of frost Over a large part of
th wlntr wheat belt made trader un
easy and started a liberal covering move
ment. So far the advance In all grains
the last few days ha been largely at
tributed to buying by previoui sellers,
while there has been no help of conse
quence from the Outside. Local traders
have tried to check th upward move
ment without success and have had to
cover at higher prices.
Celewls & Co., Minneapolis wired:
"In spit of th very poor flour
demand for the last yar, the Minneapolis
mills running only about 60 per cept ca
pacity, our total stocks are now only
2,600.060 bushels and there Is a slow steady
decline In stock very day." , .
A delegation of 15 members of the Chi
cago Board of Trade left for Springfield
this morning and wer precedsd by a
delegation of two last night. In ell there
1 expected to be 100 at the open meeting
Of the senate tomorrow to protest against
th passage of the Lantx bill.
Receipt ef wheat at Minneapolis Wer
279 cars; Duluth, 44 cars; Winnipeg, 213.
J. C. Mohlar, secretary of th stats
board of agriculture says that more than
1,60ft replleo wer received from Kansas
farmers
Emporia, Kan., wires James E. Bennett
ft Co. I "Canvass of representative
farmers Indicates here will be Increased
country selling this month, aa wonderful
crop prospects and discount for July
wheat are discouraging holder."
Boards of trad memberships are quoted
at $1,1(0 bid.
Fruit: Bananas, per pound, lc; Grape
Fruit Dr. Phillip, 46, $6.(10; (4. $5.(0; 64
70-80, $8.00. Lemons. 100 Golden Bowls,
$6.00; 800 Silver Cords, $(.(0; 80S Inde
pendent, $5.00. Oranges, 126 Valenclas,
16.00; 1(1 Valencia, ((.50; 171 Valencia,
(5.00; 100-116-260, $4.76; 181, $4.60; 160
Seedling. $4.76; 178 Seedlings, 14.60; 100-116-160
Seedlings, 14.26; 288 Seedlings,
$4.00; 124-360 Seedlings, $3.75; 218-260
Navels. $4.(0: 181 Navais. $4.15; 124 Na
vals, $4.00. Apples, box only, Extra fancy
Ben Davis, all sixes, $2.(0: Fsncy Ben
Davis, all sixes, (2.26; Choice Ben Davis
all sliea, $2.00; WInesaps 176-188-200,
If. 00; WInesaps 118-226-234, $1.7$; Ark.
Blacks. 116 and larger, $4.26.
Vegetables: Potatoea, R. R. Ohlos, per'
cwt., $3.00; Ohlos Sandlands, per ewt.,
$1.(0; Whites U. S. No. 1, per cwt., $1.60;
New Triumphs, per lb., (o. Cabbage, Crt.
lots, per lp.i lc; Small lots, per lb., 4c.
Sweet Potatoes, Crt. Southern, $2.(0. On
ions, Crt, Crystal Wag, $2.15; Crt. Tellow
Wax! $2.00; Sk. Tellow Onions, cwt., $2.00.
Roots, Cafrotts-Beeta, le; Turnips, lc.
Green Vegetables, Hpr. Wax Beans, $4.25;
Hpr. Green Beans, $4.16. Cucumbers, Fey.
bo (1 rtos.) $3.60; Cucumbers, Ex. Fey.
box (2 dox.) $4.00; Cucumbers, Fla. Hpr.
No. 1, $6.00; Cucumbers, Fla. Hpr. No, 1,
$1.00: Hd. Lettuce Los Angeles, crt., $4.(0;
Hd. Lettuce Los Angeles, dos., $1.(0; Cel
ery Fla., per crt., $6.60; Celery Fla., per
dos., $1.10; Tomatoes Luga, $4.00; Toma
toes. I bakt. crts., Market Price: Green
Peppers, per lb., l(c; Green Peas, per
lb., 10c; Egg Plant, pet) dos., $2.60.
Miscellaneous: Peanuts, Bbl, Baited, par
lb, 11c; Drum Salted, per lb., llc Pal)
Salted, per lb., lie; Jumbo Raw, per lb.,
14c; Jumbo Roast, per lb., 17o; No. 1 Raw,
per lb., 8c; No. 1 Roast, per lb., 11c.
English Walnuts, per pound. 31c. Date,
Dromedary New, $6.75. Checkers, Btc, 100
to case, prlxe, $7.00; 60 to case, prlxe,
$3.50; 160 to ease, no prize, $6.76; 60 to
rase, no prlxe, $3.40. Plant. Tomato,
box. $1.25; Cabbage, box, $1.25: Pansy
bskt., $1.26; Pineapples, 42, $4.(0; Pine
apples, II. $8 26; Pineapples, 10-14. $6.75.
Wholesale price of beef cuts. No. 1
rib. 10o; No. t ribs, 19c; No. I ribs,
16c; Ne. 1 loin. 17c; No. I loin. 2(c;
No. 8 loins, $ic; No. 1 rounds, lie; No.
1 rounds, 18c; No. 1 rounds. 17e;
No. 1 chucks, lOHc: No. 1 chucks, 10c;
No. 3 chuck, in; No. 1 plates, 7c; No.
t plates, 7c; No. I plates, te.
Chicago Stocks.
Th following quotations at furnlhed
by Logan A Bryan:
Armour A Co. pfd 10
Armour Leather Co., common 13
Armour Leather Co. pfd 8
Commonwealth Edison Co 108
Cudahy Packing Co., common (0
Continental Motor 6
Hartman Corporation common...... 76
Llbby. McNeil A Llbby 10
Montgomery Ward Co 21
National Leather 8
Reo Motor Car Co 21
Swift & Co 100
Swift International 26
Union Cajlde ft Carbon Co (1
Omaha Produce
Bonds and Notes
Short Term Notes and Bond.
Th following quotation furnished by
th Omaha Trust company:
Appros.
Prlc Tleld
American T. A T. Co. 6s, 1121.. 17 T.80
American T. A T. Co. 6s. 19U4.. 96 7.30
Anaconda 7s. 1919 9S 8.09
Armour 7, 1930 16 7.50
Belgian Gov't ts, 1941 99 6.0
Belgian Gov't 7s. 1946 tt 7.51
BethUhem Steel 7s, 1922 tt 7.48
Bethlehem Steel 7a, 1923....... 98 7.90
British 6s, 1922 96 If
British (s. 1999 90 7.1$
British 6s. 1937 8 6.(5
C. C. C. A St. L. 6. 1(29 88 3.00
Christiana 6s, 1946 96 1.80
Cudahy Packing Co.. 7a, 1933.. 98 7.46
Denmark 6s, 1146 tl 1.06
French Government ts. 1945..., tl 9.77
B. F. Goodrich 7. 1925 90 t.ll
Japanese Government 1st 4s, '26 81 1.40
Japanese Gov't 4a, 1131 67 9.05
Morris A Co. 7s, 1930 91 7.71
Norway (s, 1140. ..t, 100 7.95
Northwestern Bell Tel. 7. 1941. 98 7.10
N. T. Central 7a, 1130 100 1.15
Pennsylvania R, R. 7i. 1130.... 101 6.11
Southwsstern Bell Co. 7s, 1911.. 96 8.01
Swedish Gov't 6s, 1939 83 7.74
Swift A CO. 7s, 1926 96 7.tl
Swiss Gov't ts, 1940 108 7.66
IT. S. Rubber 7a, 1930 100 7.60
Westlnghouse Eleo. 7. 1931.... l T.4
Vw York Cotton.
New Tork, May I. Monday's advances
were followed by a decline or 10 v
point at th opening of th ootton mar
ket because of disappointing cable and
reports of Increased curtailment In the
Manchester mills.
St. Louis reported that a Chicago hous
cabled the United Kingdom, cancelling
wheat purchases made at Chicago pre
viously, as Chicago markat is abovs th
British govrnmnt prloes.
Some southern selling appeared, but
there was a continued demand from Wall
street on th decline and the market
turned firmer after the call, with July
selling up to 13.20c and October to 13.68c,
or 11 to 14 points net higher. May which
had sold to within 45 point of July Mon
day, was relatively, easy, owing to th cir
culation of notice amounting to about
2,900 bales.
The firm ruling of foreign exchange end
reports of a more confidant tone In Wall
street helped to offset the less favorablo
bowing of th Liverpool market.
The early offering of May ware quickly
absorbed, partly by buying for conti
nental account, and the market showed
considerable strength during th middle of
the morning.
A few stop orders were uncovered on
th advance which carried July up to
13.22o or 30 points above th early low
price and II points net higher. Other
months 'howd similar gain, with buy
ing encouraged by complaints of con
tinued low temperature In th south, but
fluctuations were somewhat Irregular late
In the morning, and th midday market'
showed reactions of 10 or 13 point from
th best under realising.
New Tork Money.
New Tork. May 8. Prime mercantile
prtper, 707 per cent; exchange Irreg
ular. Sterling Demand, $3.97; cables,
$3.98'i.
Francs Demand. 7.94c; cables 7.96c.
Belgian Francs Demand 7.94c; cables,
7.16c.
Guilders Demand, 35.15c: cables, 3l.2(c.
Lire Demand, 4.86c: cables, 4.88c.
Marka Demand, 1.61c; cables l.(4e.
Greece Demand, 6.06c.
Argentine Demand, 81.12c.
Braxlllan Demand, 13.37c.
Montreal 10 per cent dlacount.
Time loans firm; 60 days, 90 days and
six months, 607 per cent.
Call money easier; high 7; low (; rul
ing rate 7: closing bid 6; offered at 7;
last loan 6.
Foreign Exchange Bate.
Following are today's rates ef exchsnge
as compared with the par valuation. Fur
nished by tne raters .National name:
i Par Valuation Today
Austria : 30 .0010
Belgium 115 .07(0
Cieeho-Slovakta .0140
Denmark 27 .1845
England 4.88 1.97
Franc 193 .0795
Germany 238 .0158
Greece Its .0616
Italy 195 .0410
Jugo-Slavla .0075
Norway 27 .1660
Poland .0015
Sweden 27 ,.2845
Swltierland 115 .1770
Canada 1.00 .8975
New Tork Produce.
New Tork, May I. Butter Strong;
creamery, higher than extras, 38 0 39v;
creamery extras, 17 088c; areamery
firsts. 14037c.
Eggs Irregular: fresh gathered extra
firsts, 27028c: firsts, 24016c.
Cheess Weak; state whole milk flats,
fresh special. 17el8Uc.
Live Poultry Quiet; broilers, 40071c; I
rowis, sic; aressea, sttaay; price un
changed. New Tork Metals.
New Tork. May 1. Copper Market
easier; electrolytic, spot and nearby,
ll012c; futures 13013e.
Tin Easier, spot and nearby tl.7(o;
futures, 31.60c.
Iron Nominal, unchanged.
. Lead Steady; spot, 4.60c.
Zinc Steady, East St. Louts delivery,
pot 4.900 (c. -
Anttmeny Dull: spot. (,26o,
Chicago Produce.
Chicago, May 3. Butter Higher;
creamery extras, (lo; standard, tlo.
Eggs Higher: receipts, 31,711 cases;
firsts, 22c; ordinary firsts, 1801to; at
mark, cast included, 20031c; standard,
22c. '
Live Poultry Unchanged.
Chicago- Potatoes.
Chicago, May 3. Potatoes Market
wak: receipts 54 cars; northern white,
sacked and bulk, 70086 ewt., new, Flor
ida, No, 1, 18.21 barrsls; Texa triumphs
14.0004,80 cwt.
Total of 1,487 Firm FaU
During Month of April
New York; May 3. Insolvencies
among American firms during -April
numbered 1,487, according to figures
made public by R. G. Dun & Co.
This number was 151 greater than
the March compilation, although the
liabilities, amounting to more than
$38,000,000 were. $28,0000,000 bulow
the preceding month.
- Compared with April, statistics of
preceding years show that the num
ber of last month's failures and the
amount of liabilities were in excess of
any April since 1915.
Employment in Automobile
- Industry Shows Increase
Washington, May $. Employ
ment in the automobile industry, un
til recently becalmed in the businen
doldrums, picked up 32.2 per cent in
March as compared to February, De
partment of Labor figures disclosed.
Car building and repairing employ
ment dropped 6.8 per cent, coat min
ing 5.4 per cent and steel 4.4. Of the
14 industries reported, eight ihowed
increases and six decreases.
Cheese Prices Slump.
Waterloo, N. Y., May 3. For the
first time in six years, cheeit was
being bought in northern New York
markets for 14 cents a pound. Deal
ers report there is no market even
at that price. A years ago cheese
was selling at the factory for 28 to
30 cents. - '
Farmers Putting in Corn
Crop Early Near Oshkosh
Oshkosh, Neb., May 3. (Special.)
At least 40 per cent of the corn
crop will be planted in this vicinity
by the latter part of the present
week, weather permitting. This it
unusually early, as corn planting it
very seldom started here before May
10 or 15, but the ground is in excel
lent condition and, as a large acreage
will be planted, early work .in the
fields is the result.
Engineer Pensioned.
George Nicely, a veteran engineer
on me union racitic roaci wno nai
had a passenger run out of Beatrice
for 25 years, has been placed on the
pension roll by the company.
Downtown Programs.
Moon William Farnum in "His
Greatest Sacrifice."
RialtoCharles Ray in "The Old
Swimmin Hole."
Sun Alice Lake in "The Greater
Claim."
Strand Norma Talmadge in "The
Passion Flower."
Empress "Godless Men."
Muse "Sim of Rosanne."
Neighborhood House.
Grand Carmel Myers ( in "The
Dangerous Woman.'
Hamilton "Black Beauty."
Suburban "Unseen Forces."
Hippodrome "The Idol Dstncer."
Maryland "Old Dad."
Lytic "Married Life."
Alhambra "Peaceful Valley."
Rohlff "Passion."
Jamei Kirkwood, noted character
actor, has the title role in Marshall
Neilan's forthcoming masterpiece,
"Bob Hampton of Placer," an his
torical romance of the west. Kirki
wood plays the part of Bob Hamp
ton, gambler, who. dismissed from
the service in an army scandal, ia
restored to a place of honor with
Custer in the battle of Little Big
Horn. The picture opens Sunday at
the Rlalto theater. .
An exact reproduction of one of
the best known cafes in San Fran
cisco furnishes a setting for a bizar
re pardin de danse scene for "The
Greater Claim," featuring Alice Lake
at the Sun theater this week.
Bessie Love's summer vacation
came two months earlier than she
expected. She went on location to
Catalina Island, 24 miles from Los
Angeles. It was to have been her
vacation rendezvous, but' having spent
three weekt there, she will now prob
ably visit New York.
T" oughout the summer months
Claire Du Brey is planning to be
hostess at a series of week-end par
ties given at her seaside home. Miss
Du Brey is the wife of a prominent
physician, even though she is a "vam
pire" 'on the screen.
Ruth Roland has resumed serial
making for Pathe. Under her new
contract, rather than maintain her
own studio, Miss Roland is at work
at the Roach studios.
Several motion picture celebrities,
including both Texas Guinan and
Tom Santschi, have organized an in
formal entertainment committee and
pledged themselves to furnish Sun
day afternoon diversion for conval
escent soldiers in and near Los Ange
les. 4-Day Welfare Campaign
Closes at Central City
Central City, Neb., May 3. (Spe
cial.) A four-days' welfare cam
paign in this city closed with a mass
meeting at the Presbyterian church.
Dr. Theodore Hanson of Omaha,
state director of the Nebraska state
hygiene and welfare campaign, con
ducted the local meetings. Much in
terest was manifested and a commit
tee of 25 citizens was appointed tp
work out measures pertaining to the
welfare of the city and community.
Former Schoolmates to Give
Dinner to Dakota Governor
Sioux City, la., May 3. More than
100 former schoolmates' of W. H.
McMaster, governor of South Da
kota, are expected to attend the din
ner to be held in his honor here
Thursday evening. John W. Carey
of Rock Rapids, la., will act as
toastmaster.
AT THE
THEATERS
A eluding dance numbsn presented by
th famous ballet artist, Albsrtlna
Raach. In this solo ottering th pictorial
background la beautifully adequate. Dark
clouds sweep by, but the sun breaks
through In a flood of clear brilliancy. Then
comes ths danoe, an Intoxication of Oypsy
)y In response to ths glad freshness -of
naturs after ths great cleansng drench ot
rain. Ths distinction s,nd poetic beauty of
ths dancer's work la In this number at lis
best. Special lighting, special scenlo ef
fects and a special musical director great
ly enhance the effectiveness ot this head
line offering. It Is the moat artistlo dance
pisductlon ths Orpheum has ever offered.
"A. Festival of Song and Music" Is a
fitting description of the act offered by
Hayden, Goodwin and Rows, the Thrsa
Jassomanlacs who are appearing at tha
Kmpress today. In the act offered by Dan
Holt and company, "The Moonshiners,"
there are singing, danelng and musical
specialties. Marie Corrella and company,
In "An Athletlo Surprise," prove a dis
tinct title to a high place as comedy acro
bats. Jewel and Raymond, who complete
ths vaudeville show, ars a team of musi
cal comedy favorites whose offering Is
clean, classy and up to the minute.
i
Let. Us
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Chicago, Milwaukee, Kansas City, Sioux City,
or any other market.
We Specialize
I the caraftrf handling of all orders for grain
and trrorisions for furore delrrery.
We Operate
Offices at Omaha, Neb., Lincoln, Neb, Hast,
ings, Nab.; Chicago, 111.; Sioux City, la.;
Holdrege, Neb.; Genera, Neb.; Dei Moinei, la.;
Milwaukee, Wis.; Hamburg, la.; Kansas City,
Missonrs.
We Have
Up-to-date Terminal Elevators in the Omaha
end Milwaukee Marketswith the latest facifi
ties for handling your shipments.
Updike Grain Co.
The Reliable Consignment H
Omaha, Nebraska
South Side
South Side Girl
Leads Elks Event
Miss Selma Ohlfs in First
Place in Popularity
Contest.
Miss Sclma Ohlfs, 5607 South
Twenty-fourth street, leads the 33
entrees in the Women's popularity
contest of the Elks to date.
To date, the Women's contest it
rated as follow! :
Miss Sclma Ohlfs, 1,757; Mrs.
Jennie Callfas. 1,700; Kathleen Ger
man, 1,631; Kthel M. Keena, 1,600;
Mri. Harry Johnston, 1.300; Elea
nore Murray, 1,300; Marguerite
Tonge, 1262; Mrs. Willia A. Graham,
1.250; Lucille Woodhall. 1,230; Mrs.
Grace Betts. 1,230; Cassie Bierman,
1.200; Elsie Metz, 1,200; Mrs. Maude
Willis, 1,200; Grace Mahaffey, 1,152;
Teanctte Kendrick, 1,175; Kathryn
Keller, 1,150; Mri. Mary Patterson,
1,120; Mrs. James Dahlman, 1,100;
Frances Castetter, 1.100; Mildred
Burke, 1,100; Helen McKale, 1,100;
Gladys Peters, 1,100: Alice McCor
mick, 1,100; Agnes. McCarthy. 1,100;
Fav.M. Watts, 1.100; Clara Brewster,
1,100; Muriel Weber, 1,107; Nan
Griffith 1,100; Olive Stephenson,
1,100! Haxel Minor, 1,100; Lillian
Seitzer, 1,120; Miss Abie Howes,
1,100.
The baby votes are listed to date
as follows:
Wilma Mae Keane, 3,393; Eloise
Segi, 2,715; Eileen Frances Buzz, 'd,
2,485; Norma Bell; Tavlor, 2,190;
Robert Walter Belson, 2,100; Baby
Tate, 2.100; Fern Brunson, 2,000;
Edith Morley, 1,611; Ruth Krebs.
1,490; Mary Jane Tosh, 1,300; Betty
Jane Grant, 1,365; Mary Elizabeth
Hultman, 1,125; France! Fuller,
V100.
Former Justice of Peace
Dies at South Side Home
After an illness of only two days
Patrick C. Caldwell, 57, former jus
tice of the peace, died Monday night
at his home, 5220 South Thirty-sixth
street. He had lived here 31 years
and was justice of the peace on the
South Side for 17 years. The
funeral will be held in St. Marys
church" at 9 o'clock tomorrow morn
ing with burial in St. Mary'i ceme
tery. Corn Seized in Raid.
Sixty-three pint bottles of liquid,
said to be home-manufactured corn
whisky, were taken from the home
of joe Tolmen, 1218 South Twelfth
street, bv Sergeant Thestrup and
Policeman Bee in a raid Monday
night. Tolmen was released on bond.
Burglar Robs Home.
A thief slipped into the home of
Mike Drakulich. 5722 South Twenty
eighth by a side window while the
family slept Monday night and stole
$15, he reported to South Side
police.
South Side Brevities
Mr. and Mrs. E. T. Knsuss of Rldge
flplrt. Wash., and Mrs. C. K. Bossart of
Beatrice ars visiting at horns horns of
and Mrs. Otto Wurmbach, 6720 R street.
B. J. Tleniey of Ansley brought In a
load of live stock yesterday for ths lo
cal msrket. Mr. Tlerney said a groat
many hogs In his section were being
shipped to Spokane and other points in
the northwest. He said a regular buyer
from the northwest had been working
for some time In territory on the Bur
lington railroad between Broken Bow and
Ravenna.
Dr. Campbell Named Head
Of Columbus Rotary Club
Columbus, Neb., May 3. (Spe
cial.) At a meeting of the board of
directors of the Columbus Rotary
club, Dr. C. H. Campbell wat chosen
as president for the coming year.
Other officers elected were: C Ray
Gates, secretary"! Harry Snyder, vice
president; Ernest Jaeggi, treasurer,
and Vivian Brian, sergeant-at-arms.
The other two members of the board
are C. J. Fennel and John I. Long.
Pioneer Resident Dies at
Beatrice After Illness
Beatrice, Neb ; May 3. (Special.)
Mrs. W. N. Farlow, 64, pioneer of
Beatrice whose husband died four
months ago, died yesterday at her
home in this city after a prolonged
illness. She was a sister-in-law of
Mayor C. C. Farlow of this city and
is survived by three children and one
brother, Marcus Griffith of Block
ton, la.
!
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