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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (May 26, 1921)
THE BEE: OMAHA, THURSDAY, MAY ZB, lszi. 13 U. S. Underbids England on Order From Australia SecuringofElectrical Contract Demonstrates America's Ability to Do Better in Price and Quality. By HOLLAND. Not the first time did Australia acknowledge American superiority in price, quality and other conditions when she, a few days ago, placed with an American industry an order involving nearly $2,000,000 for cer tain electrical apparatus. Some years ago Australia was in the market for certain armament, rifles and the like. Her government would have gladly placed the order with Great Britain and in fact at one time was tempted to do that. But an American industry whose plant is at Hartford, Conn., prepared to demonstrate to the representatives of Australia who gathered at London that the United States could offer a better implement and at satisfactory price and with the certainty of ful filling the order within a short time. The representatives of the American comapny were occupied for several weeks in demonstrating to the Aus tralian representatives that this country could do better than Great Britain both in price, in quality and in time. Reluctantly Australia placed the contract with this American com pany. China Buys From America. 80 also China was seeking about that time to Improve or enlarge her national arsenal. She Invited competitive demon titration and Great Britain and the United States shared in this competition. Again the American company whose plant Is at Hartford triumphed because China recog nised and acknowledged the superiority In every way of the. American commodities and because the price was satisfactory. Australia has now awarded to an Ameri can Industrial corporation the contract for electrical apparatus. Although the amount Involved, 12,000,000, Is not so large as to make the contract conspicuous, never theless tbe fact that an American com pany secured It goes far to prove that American Industry can successfully com pete with respect to price and quality of Its commodities with the Industries of Oreat Britain. France, Belgium, at least so far as certain commodities are con cerned. The United States Steel Corpor ation Is about to rend a large number of steel rails to Japan, probably because Japan was satisfied that the American product Is the best of any so far as qual ity la concerned and because the price was satisfactory. These are two recent Incidents In our foreign trade which offset to some ex tent the somowhat unsatisfactory reports which tell of our exports slnca March'. Undoubtedly they will be duplicated be cause prices are being reduced, excessive wages are also under readjustment and because our Industries or many of them have by the employment of the best mod ern methods and apparatus been able to reduce the cast entailed In manufacturing commodities. Automobile .Situation. Sometimes those who are giving study to our industrial and financial condition re approached by men of solemn face who say almost confidentially, "The au tomobile business Is In the dumps." So that the inference Is made that If this Industry Is now seriously depressed It ac curately reflects the condition In which almost all Industries are- now placed. It U true that within a few weeks the au tomobile industry seems to have met with a setback, although two or three of the largest manufacturers are reported to "be operating almost to their cspaclty. The best opinion is that this Blacking In tbe Industry which has come suddenly fol lowing a rather nromlsins; outlook In the ring. Is due to momentary condi tions which will be' soon overcome. There Is no doubt that the Industry will, within a short time, retrain Its activity. Very HkehVa large number of autos will be ex porwd during the summer and fall and cer ainiy win oe. proviaea wouia-oe cus tomers across tne sea can secure me crea- Us needed to pay for the cars. New Solicitor General. On July 1, James M. Beck of New Tork Is expected to take up the duties of solicitor general of the United States. The appointment has already leen made. Mr. Beck has already served as assistant to the United States district attorney at Philadelphia and as assistant attorney general. Mr. Beck was twice prevented from erving as counsel In Important investi gations by the fact that he was personal counsel, In one case to the president of the Mutual Life Insurance company of New York, and In the other personal coun sel for H. H. Rogers. The legislative com mlttee, which was appointed to Investigate the New Tork Lifo Insurance corporations, offered to Mr. Beck the position ot lead ing counsel. But as he was private coun sel for the president of the Mutual Life he was compelled to decline. Thereupon the committee asked Charles E. Hughes to serve as Its counsel. Mr. Hughes at the time was making an excursion through Europe upon his bicycle. He accepted the telegraphed offer, came to New Tork, ap peared as counsel for the committee and fn that way began a career which has been almost without parallel within the same length of time by that of any Amer ican. Had Mr. Beck- been able to accept the committees offer, opportunity would not have opened, at least at that time, for Charles E. Hughes. New York Cotton. New Tork, May 25. The expectations of bullish reports on acreage and crop con ditions led to further buying In the cotton market today. The Initial advance of 7 to 10 points was also encouraged by re ports of better prospects for an early settlement of the British coal strike and higher Liverpool cables. There was some New Orleans and scat tered southern selling, as well as realising on the basis of 13.80a for July and 11.50s for October, however, and fluctatlons were somewhat Irregular after the call, with recent buyers taking profits In an ticipation of a bearish weekly report from the weather bureau at midday. Private cables reported a better In quiry for cotton goods in Manchester. There was some scattered realizing lat er, but offerings were generally well taken and demand seemed to be broaden ing somewhat on a private report plac ing the condition of the crop at 65.4 and pointing to a reduction of S0.6" per cent in acreage, with a crop Indication of only 7,600,000 bales. July sold up to 11.63 and October to 11.60 early In the noon hour, or about Jl to 26 points net hlsher. . . ... The weekly report of the weather bu reau showed Improved conditions in the belt, but said the condition was still un satisfactory In many sections because of previously unfavorable weather. Omaha Bay Market. Prairie Hay Receipts somewhat heavier, prices steady on the better grades and a little lower on the lower grades. Alfalfa Receipts nominal. Fair de mand. Prices steady. Straw No receipts. Little demand. Prices firm. May wo. 1 upiana frame, en.uv io $11.00; No. 2 Upland Prairie, 60.50 to 610.60: No. t Upland Prairie. 67.00 to $8.00; No. 1 Midland, 611.00 to 616 00; No. t Midland. 66.00 to 66.00; No. 6 Mldlat.d, 66.60 to 67.50; No. 1 Lowland, 68.50 to 66.60: No. 2 Lowland, 66.60 to 67.50. Alfalfa Choice. 621.00 to 626 00: No. I, 616.00 to 620.00: Standard, 614.00 to 617.60; No. 2. 68.50 to 611.00: No. 2. 67.00 to l.o Straw Oat, 68.00 to 66.00: wheat, 67.50 to 68.00. ' w Tork Coffee. New York. May 26. A few trades In the maturing May contract caused some Irregularity In the market for cof fee futures today, but other months showed little change and general busi ness was quiet. The opening was points lower on May and unchanged to .1 points lower on other positions. After selling at 6.85c, May rallied to 6.60c on rovertng and July sold up from 0o to 6.15c, or 4 points net higher. The bulge was not fully maintained, how ever, with the market closing net un changed to 2 points lower. May, 6.2c; Julv. 6.11c: September, 6.47c; October, 4.6io: December. 6.S5c; January, T.OSc; March, 7.23c. Spot Coffee Market quiet; RlO Ts. 6Hc; Santos 4s, gc. Liberty Bond Prices. New Tork, May 26. Liberty bonds at noon: JHs. 88.10; first 4s, 87.40; second 4s. 86.60 bid; first it. 87.66; second 4 is. 67.00; third 4H, 00.60; fourth 4fcs, 87.20; Victory Ss, 67.78; Victory 4s, 7.7. Liberty bonds closed: 3Hs. 688.00; first 4s, 687.40: second 4s, 887.00 bid; first 4 Hs, 887.60; second 4V.8. 587.08: third 4'i, 890.64; fourth it, 887.24; Victory tM. 97.64; Victory 4tts. 607.84. London Metals. London. Msy 25. Standard copper, spot 174 17s 6d: electrolytic, f7; tlnr 1181 'Is d; lead, 24 2s d; line, ill live Stock Omaha, May 25. Receipts were Cattle. Hogs. Sheep. Official Miinriav i 41)1 I II) 1 III urncial Tuesday 4.704 12.122 6.068 Estimate Wednesday. 4.3(10 16.706 8,000 Three days this week.14, 406 60,260 16.646 Same Havi laat ,,li It nil )l 111 ll UK same days 2 wk. ago.18,727 82.818 23,647 same days I wk. ago.14,762 80,846 83.661 Same days year ago.14,686 36,026 11,736 Recelnta and dlaooaltton if live staek at the Union stock yards, Omaha, Neb., for s nours ending at I ocioc p. m.. May ID, 1921: RECEIPTS CARS. Cat. His Hhn. v. m. a bc. i . ny. ........ s it , Wabash' 1 , Mo. Pao. Ry 31 , Union Pac. R. R, 56 64 I C. N. W. Ry.. east 4 2 . O. N. W. Ry.. west 21 23 2 C. St. P. M. A O. Ry 18 26 . C. B. A Q. By., east 16 6 C. B. Q. Ry., west 27 41 ... C. R. I. ft P., east 8 7 ... C. R. I. A P., west 1 1 ... Illinois Central Ry. 1 C. O. W. Ry I 1 ... Total receipts DISPOSITION- ....166 -HEAD. 228 13 Cat. Hgs. Shp. Armour A Co Cuiluhy Pkg. Co. Doltl Pkg. Co, Morris Pkg. Co Swift A Co Ogden Pkg. Co. J. W. Murphy Swarts Co Wilson Pkg. Co Q lass burg, M. Hlgglns Pkg. Co. ...... Hoffman Bros Mayerowlch & Vail ... P. OPea Omaha Pkg. Co 8 O. Pkg. Co Bulla J. If Cheek. W. H Christie, E. U. A Son .. Kills & Co Harvey, John Hill, W. XV. A Co Kellogg, F. O I.undgren, Joel Lewis, F. P Root, J. B. & Co. Sullivan Bros Worth Pegen Other buyers 776 3.845 1,360 750 274 633 751 4,010 1,300 2,568 3,608 120 1,428 133 168 473 23 25 27 33 6 11 6 87 35 8 13 264 22 10 1 13 112 8 10 778 64 720 Total .4,780 16,486 3,022 Cattle Receipts of cattle continue mod erate, about 4.300 head today and the three days supply has been nearly 6,000 short of the first half of last week. De mand from all sources sppeared to be In different and there was another 1015o decline in prices for both beef steers and cow stuff making a 2640o decline so far this week. Best of ths beet cattle sold around 67.76 8. 35. Stnckers and feeders were in limited supply, dull and un changed. Quotations en Cattle Choice to prime beeves. 67.76r.00; good to choice neeves, ?.607.75; fair to good beeves, 67.250 7.60;common to fair beeves, $6.757.25; choice to prime yearlings, 8. 00408. 25; good to choice yearlings, 57.608.00; fair to good yearlings. J7.00-87.60: common to fair yearlings, 6.607.00; choice to prime heifers, J7.257.75; good to choice heirers, 35.75Qi7.25: choice to prime cows, 86. 2542-6. 76; good to choice cows, 15.50 6.25; fair to good cows, 65.005.75; com mon to fair cows, 2.0O4.50: good to choice feeders. 67.25sJ7.75, fair to good feeders, 26.607.25; common to fair feed ers, J6.006.60; good to choice stockers, $7.2547.75 ; fair to good stockers, 66.50 7.25; common to fair stockers, $5.0096.25; stock heifers, 84.606.G0; stock cows, $3.50 4.7S ; stock calves. 65.00Q7.60; veal calves 66.0010.00; bulls, stsgs, etc., $4.75 7.00. BEKr BTEEK3. No. Av. Pr. No. Av. Pr. 40 1101 6 90 12 825 7 00 10 872 7 15 81 1202 7 35 15 987 7 40 2 1006 7 0 20 1106 7 60 16 1082 T 66 23 1241 7 75 IS 1336 7 85 20 1260 7 90 23 1100 8 00 40 1388 8 25 STEERS AND HEIFERS. 33 671 7 00 14 692 7 10 15 678 7 25 23 1067 7 35 16 790 7 60 8 743 1 65 11 650 7 75 10 636 $ 00 YEARLINGS. 20 486 6 60 16 '648 7 25 COWS. 13 1047 S 00 18 1212 6 25 6 1197 6 40 HEIFERS. 7...... 664 7 00 11 606 1 26 23 .. 944 7 3F ' STOCKERS AND FEEDERS. 20 896 6 76 BULLS. 1 600 4 6 1 .. 730 4 50 3 496 4 75 $ 139$ 4 90 1 1590 6 70 1 1610 6 15 3 (90 6 50 3 806 25 CALVES. 1...... 140 4 00 4...... 182 7 00 4 316 8 25 5 .- 200 I 50 4 187 7 76 ' Hogs Receipts of hogs today were liberal, about 16,700 head showing up. This heavy run combined with bearish advices from other markets caused a low er trend to values and light bogs sold at declines of about 15c while everything else ruled about a quarter lower. Trade was rather quiet throughout, especially on heavy hogs. Best light hogs made a top of $8.30 and bulk of the receipts sold from 7.35-8.00. HOGS. No. Av. 66. .361 29. .310 59. .262 Ph. 150 Pr. No. Av. Sh. 70 160 70 Pr. 42. .631 61. .337 29. .267 65. .247 60. .264 ' 66. .235 74. .204 72. .186 7 25 70 .261 .255 .230 190 140 46 76 60. .202 60. .224 70. .195 40 40 Sheep Only 3,000 sheep and lambs were hero today and the supply was not as good as usual, conslstng of odds and ends. Prices were quotably steady with possibly a little stronger on strictly good lambs. Pretty good native springers sold at $12.00 and fed shorn lambs reached $11.00. Good ewes moved at $4.65. but something choice would bring $5.00. Feeders trade continues nominal. Quotations on sheep and lambs: Fed wooled lambs, J9.60igll.60; spring lambs, $10.001913.25; shorn lambs, $9.7611.00; fed wooled ewes. $4.75 $6.60: shorn ewes, $4. 005.00; cull ewes, $2.509$.7t, SPRING LAMBS. No. Av. Pr. No. ' Ar. Pr. 837 Calif 72 12 25 217 Nat 66 11.26 - FAT LAMBS. 465 fed 77 11 00 FEEDER LAMBS. 100 Nat. 59 8.00 SHORN LAMBS. 384 fed 73 10 60 334 fed $$ 11 00 SHORN EWES. 125 fed 115 4 75 Chicago live Stock. Chicago, May 26. Cattle Receipts 10, 000 head; market, choice light steers and yearlings, about steady; heavlea, slow, 1525o lower; top, $8.75; bulk, $7.60 8.25: butcher shee stock and bulls, 26c lower; fat cows and heifers, mostly $5.25 6.50; bulls, largely $4.EO6.60; veal calves, 50c lower; bulk, $7.6008.60; stockers and feeders, weak to 25o lower. Hogs Receipts, 27,000 head; market opening 10i$26o lower; lights and light butchers off most; closing weak and 26 35c lower; holdover, liberal; top, $8.66 early; bulk, IS.OOg8.46; pigs. 11025c lower: bulk desirable, $8.2508.90. Sheep and Lambs Receipts, 13,000 head; market, killing classes, steady to 26o lower; few choice shorn Iambs and shippers, $12.00; bulk, $11.00 down; best native springs, $12.75; bulk, $12.00012.50; oulle, $7.00 0 3.00; shorn Washington Jamb". $8.75: beat fat ewes. $4.76; bulk, 4.00O4.25; few wooled wethers, $5.00. ' Kansas City Live Stock. Kansas City, May 25. (U. S. Bureau of Markets.) Cattle Receipts, 6.800 head; beef steers, steady to 2 So lower; mostly 1015o lower; top yearlings. $8.60; bulk steers, $7.78; quarantine steers, early, $6.00; she stock and bulls, weak to 25o lower; calves, steady to 25o higher; best vealers to packers. $3.25; other classes around steady; bulk, stockers, $6.00 9 6.60. Hogs Receipts. 12,600 head; market, open slow, sorted lights to- shippers and speculators, 16fp20c lower; closed active with packers buying mostly, 1625c lower; top, $8.65; bulk of sales, $7.7008.00; packing sows, 25c lower; pigs, steady. Sheep and Lambs Receipts, 8,000 head; lambs, steady; best native springers. $11.60; most good kinds, $11.00011.60! native ewes, fully 26c lower; best. $3,750 4.00; Texaa wethers unsold, early; coats, $3.6$. , - Sioux City Live Stock. Sioux City, May 26. Cattle Receipts 3.800 head; fed steers and yearling, $4.60 7.78: market killers weak to 26c lower, stockers steady; fat cows and heifers, $6.6008.35; canners, $2.0004.00; veals, $6.0006.00; calves, $5.0607.00; feeding cows and heifers, I3.56.e; stockers, $5.0007.25. Hogs Receipts 1,800 head; market, 16 025c lower, light, $7.9008.10; mixed. $7.50 45-7.85; heavy. $7.0097.60; bulk, $7.60 8.00. Sheep Receipts 256 head: market weak. St. Joseph Live Stork. St. Joseph. May 25. Cattle Receipts, 2,000 bead; market steady to 16e lower: steers, $6.0093.40: cows and heifers, $6.00 08.25; calves. $6,004)7.00. Hogs Receipts, 11,000 head; market lOSJOc lower; top, $8.20; bulk of sales, $7.7698.05. Sheep and Lambs Receipts. S.S00 head; market 25c lower; spring lambs. $10,509 11.76; Clipped lambs, $9.60010.00; ewes, $3.6094.2$. . , Market, Financial and Industrial News of the Day Chicago Grain By CHARLES D. MICHAELS. Chicago Tribune-Omaha Bee Leased Wire. Chicago, May 25. Wheat prices in Chicago are the highest in the coun try for cash and May delivery, be ing higher than in .Winnipeg when the rates ot exchange are considered. A wild set of grain markets, with wheat in the lead, was on with high est prices of the season for all wheat futures and a. new high for this up turn on the other grains. Heavy realizing, sales in all grains and es pecially in wheat, carried prices oft sharply at the last and the finish was at gains of 6c for May wheat, while July was Zc lower, corn gain ing for the May and lost 'A'4c for distant futures. Oats were lls lic lower. Rye was 4c higher for May and Zlac lower for the distant months and barley unchanged to jc lower lor the day. May wheat prices moved l2c be tween trades at times and at the top of $1.85 was 24c from Tuesday's low and 12'c over the close of that day. An immense evening up was on, with short coming in on stop-loss orders and a general scramble for the mod erate offerings. Commission houses had good orders, while the advance invited extensive selling for profits which, in most instances, were heavy. The advance brought out increased offerings of cash wheat from all sec tions, including a few cars from Canada. Crop Reports Unfavorable. ' Crop reports from the southwest and Nebraska continue unfavorable. B. W. Snow's report from Nebraska confirms the claims of Inglls made Tuesday, that rains were not helping the crop, with the condition west of Lincoln below the average. The weekly government crop report largely confirmed the private re ports of damage, although not so sensa tional as the private advices. Scattered rains were reported at Liberal, Kan., and a few other points, with no predictions for general rains. Seaboard exporters were larfe buyers of cash corn and July, with 760,000 bushels July given up in exchange for the cash grain and 600,000 bushels, sold for shipment with chsrters for 250,000 bushels. Shipping sales were large enough to ab sorb offerings from the country, which were liberal although not as large as the previous day. A general covering move ment was on ana while May was up to 62c and July to 65 He, gains on the latter were lost, tbe price dropping lc from the top at the last for July, with a lower finish, while May gained s for the day with last sales at 6lVc. Ar rivals, 223 cars May deliveries, 126,000 bushels. Big Business in Oats. A big business was on in oats, with nn advance and highest rjrican at thn mtiLrt followed by a break of 14i2o and a ciose at me insiae wun me gains all lost. Crop news was less favorable, yet all tho largest buyers of late were after profits and new buying was not strong enough to absorb the offerings. Cash prices, while 2 cents higher early, slumped at the last. Shipping sales were 216.000 bushels and deliveries 11,000 bushels. May rye was hard to buy and advanced 4 '4c with the close at the top at JLei. DlstSnt deliveries weakened after their early bulge and closed there. No cash rye is to be had for July loading. There were sales of 10.000 bushela rv nnif in. 000 bushels of barley to store. Shorts bought provisions and made a small bulge which was lost later, the closo being 7i,c10c lower for ribs and on changed for lard. Cash trade was mod erate with green hams held firmer. fit Notes. Wheat Is bains' hearleH tr, rhir.fln e..m Minneapolis, a little from Canada, from the southwest, Toledo, Indianapolis and Omaha. In all about 100,000 bqsnela is coming for delivery on May sales. "A num ber of the leading markets -are sending 10 cars or more. This will hln th shorts. A miller's agent bought 12 cars hard winter at 35 cents over July for shipment irum me country in live days and paid 30c over for 10 days shipment, bidding only SOo over the five days' shipment at the close. One house bought 25,000 bushels cash and sold the May and will deliver me grain in car iota at the last. With the price up almost 60 cents for May and 25c for Julv Inside of threo weeks and 664o for May and 35c for July from the low point of the oast three months. there has been a wonderful change In the wneat trade. Tne price has gone from the lowest to the hirhest of the season Inside of three months, in the face of depressing factors, the change being largely due to the decline In crop prospects In the south west and to the strong statistical situation tne world over. Farmers have no cause to complain at the advance in wheat and other grains of late. There has been Immense evening up of . late and with the sharp operators taking profits and a feeling In certain quarters that It is best to go slow on the huvlna- side, It remains a weather market and sharp tluctatlons are to be expected. A board of trade membership sold at $6,000 net to the buyer. This la $300 more than one sold at a few days ago. Germany bought a little wheat, but foreign business In wheat was slow aa a rule. Some of the largest Interest at the seaboard had no cables. Much profit taking was In evidence In wheat and on the rallies there was enough wheat put on the market to give sub stantial reactions. strength in coars grains, however, checked sellnr and crop news dd not show any materal change for the better. Shorts have coovered freely in all grains, however, and this has left the markets more dependent on new out side buying to support, grains. Local sentiment is much more bullish, apparent ly on the coarse grains, and one of the largest local traders is credited with hav. Ing covered shorts In all pits and taken the long side ot oats, n spite of tne profit taking, 'however, the pit In wheat was easily balled out and after the early selling local bulls again took control. CHICAGO CLOSING PRICES. By Updike Grain Co., Doug. 2627. May 26. Art I Open. I High. I Low. I Close. I Yes. Wht. J May 1.74 1.86 1.71 Vi 1.79 1.73 1.78 Vi 1.80 1.73 July 1.24 1.36 1.82 1.82 1.34 4 1.33 1.32Vi 1.24 Rye May 1.58 l.; 1.58 ' 1.63 1.6 July 1.28 l.XCH 1.26 1.26 1.28 Sept 1.12 1.16 1.11 1.11 1.13 Corn i May .60 ,62 .60 .61 .1 July .63 .65 .63 .64 .64 .63 .63 .64 Sep. .56 .68 .66 .66 .66 .66 .66 .66 Oats May .43 .42 .40 .40 .41 July .42 .43 .41 .41 .43 .42 .42 .43 Sept .44 .45 .43 .43 .45 .44 .43 .46 fork May 17.80 J7.$0 17.80 17.80 17.25 July 17.6a 17.80 17.62 17.80 17.25 Lard May t.60 9.65 0.47 2.52 0.47 July 2.70 0.92 9.65 9.77 (.27 Ribs May 19.92 1.92 (.92 9.92 10.00 July 10.12 10.12 9.97 9.97 10.05 Minneapolis Grata. Minneapolis, Minn., May 25. Flour 10 to 20c higher; in carload lots, family patents quoted at $9.6099.75 a barrel in 98 ponnd cotton sacks. Wheat Receipts, 218 cars, compared with 168 ears a year ago; cash No. 1 northern, $1.689-.6; May, $1.61; July, $1.26. Corn No. t yellow, B45c. Oats No. 2 white, 27 0 38s Bsrley 460'2c. Rye No. 2. $1.47 0 1 49. Flax No. 1. $1.90Or.92. St. loots Grata. St Louis. May 25. Wheat May, $1.68; July. $1.31 H. Corn May, 61c: July, 63c. Oats May, 41c; July. 42 e. Kansas City Grain. Kansas City, May 25. Wheta May, $1.57; July, $1.26. Corn May, I5c; July, 68o; September, 60e. New Tork Dry Goods. New York, May 2$. Cotton goods re mained quiet today, with print cloths barely steady and sheetings in moderate export demand. Combed yarns fancy cloths were sold in small quantities for future delivery. Worsted yarns were quit and burlaps low. Lonsdale 4-4 bleached musltns were redueed to 14 eents from 15 cents. New York Sosrar. New York, May 25. The raw sugar market was firm and prices were higher with Interest centered in nearby sugars only. There were early ssles of 26,000 bags of Porto Rices to local refiners at 6.01c for centrifugal, and at the close 1.sne bags of San Domingo and 1.760 BrasiUsa were taken at $,0C - Financial By ALEXANDER DANA NOYES. Chicago Tribune-Omaha Bee Leased Wire. New York, May 25. The attention of the financial community con tinued to be divided today between the foreitrn exchange market, the stock market and the. wheat market, the movement in each of which is throwing light on a different aspect of the financial situation. Foreign exchange was somewhat reactionary sterlinsr in particular, lost all of Tuesday s net advance, stocks showed relaxing pressure trom the orofessional operators for the fall. and while a tew turtner snarp oe clines occurred, gains and losses tor the day were fairly balanced and there were numerous recoveries of a point or more. it ' was again apparent irom a glance at these markets that specula tive activities or the closing out oi previous speculations were the domi nant influence. Probably this was less true of foreign exchange than of the others, for it began to be recog nized that the reaction in sterling and continental rates has resulted largely from the sale of bills accumu lated for transfer of funds in the or dinary course from Europe to America: such bills havins: previous ly been held back to get full advan tage of the rise in rates. Preach Debt Reduced. There Is no. need of resorting to theories of "shifting tne Germsn payments to New York" through some unexplained ma chinery of transfer. Quite aside from the large recurring English remittances to establish balances for interest payments and maturities in this country, we snave the striking figures showing tbe French government's reduction of its American ob ligations by 92,000,000 gold franca in the March quarter and by 134,000,000 during April and further payments on the same account have just been made. These re mittances would naturally be mado from time to time, whenever the New York ex change market gave opportunity for sell ing on advantageous terms the necessary drafts or, as London and Paris describe the operation, for "buying American dol lars." Such an opportunity ocourred last week. The day's irregular movement of indus trial shares on the stock exchange re flected quick repurchase by speculators of the stocKs sola on tne previous aay s de cline, while applying pressure to a few of the stocks which did not fall or) Tues day. As a group, the railway shares were distinctly strong. This may have been partly due to the labor board's reported purpose to announce a 10 to In per cent reduction in wages next Wednesday. Ac cepting the usual calculation that last July's advanoe In wages averaged 25 per cent, a 10 per cent reduction would cancel one-half of the 1920 Increase ami a 15 per cent reduction about three-fourths of it 1 " New York Curb Jgtoclis. The following quotations are furnished by Logan & Bryan: Boston Montana 69 - 0 60 Boston Wyoming 74 7.16 Cresson Gold 19 1 Cosdon Oil 6 9 7 Consolidated Copper 1 1 Elk Basin 7 7 Federal Oil H4 B lt Glenrock OH ' 1 1 Merrlt Oil 10 10 Midwest Refining Co 146 146 silver King ot Arizona ...... 10 20 Sapulpa Oil 4 4 SImms Petroleum 7 8 IT. S. Steamship 6.16 V. 8. Retail Candy 7 7 White Oil 15 Turpentine and Rosin. Savannah, Ga.. May 25. Turpentine Firm; 68c; sales. 81 bbls.; receipts, 383 bbls. ; shipments, 216 bbls.; stock, 8,250 bbls. Rosin Firm: sales. 763 casks: receipts. 1,033 casks; shipments, 2,469 casks; stock, 1,1.400 casus. Quotes B. D., $3.80: E.. $3.90: F.. 4.15: G.. $4.20; H.. $4.25; I., $4.30; K., $4.46; M., $5.00; N., $6.85; WG., $6.85; WW., Chicago Potatoes. Chicago. May 25. Potatoes Market weak; receipts, 6J cars: old northern white sacked and bulk. 70985c cwt; new Texas and Louisiana Bliss Triumphs No. 1, $2.8593.00 cwt: No. 2. Sl.E0et.T6 cwt: south Carolina Irish cobblers, $6.60 barrel. Everybody Trades at Philip's Big Store v There's a Reason The person who aid: "There's Nothing in a Name" did not live in this modern day, when "The Fastest Growing Store in Omaha" set the pace for the record breaking prices- A Smashing Sale of Summer Footwear Hundreds of Pairs of Women's and . Misses' New Spring Shoes, ' Strap Slippers, Oxfords and Pumps High or low heel, button or lace, in black and tan in dull kid or patent leather finish. All sizei. Many different models are included, for rlrAsi. for street, for snort. for afternoon, for business wear. $8.00, on sale now at, a pair $2.98 KIDDIE KARS Kiddie Kars for the little folks, the little boy or girl's delight; every kar extra well made, brightly colored and decorated in gold stripes; regularly sold for $2.98 Special at $1.25 m m mm 11 wmtm iii-MHniiinimiinTiiiiiiiiiiiiMiiiiiiiiiiiiiiiiiiiiiiiiii.'iiniiiiiiiiiiiiiimiiiniiiiiiiiiiiiiiiiiiiiiH U 24th and OSts. Ask for Cr,eB New York Quotations Range of prices of the leading stocks furnished by Logan ft Bryan, Peters Trust building: RAILS. Tuesday High Low ' Close Close A T A S F Kl'i 60 80 81 B. & 0 39 38 89 39 Can. Pacific 116 113 114 114 N. Y. Central 68 67 8 68 Chss. & Ohio 67 67 67 67 Erie It. R 13 13 13 13 Gt. N. ptd 66 66 66 66 Chi Gt West 7 7 7 $ 111. Cen. 90 90 90 .... M K & T 2 2 2 2 K C South 27 26 . 27 26 Mo. Pac 21 21 21 21 N Y N H H.. 18 1 18 18 No. Pac Ry 70 69 69 69 Chi & N W. 66 64 65 64 Penn R R 34 34 34 84 Reading Co 71 70 71 70 C R I St P 22 11 32 21 so. pac. CO 76 -16 15 (0 So. Railway 20 20 20 20 Chi Mil A St P.... 28 27 28 27 Union Pacltlo ....119 116 119 118 Wabash 7 7' 7 7 STEELS. Am Car & F 123 121 121 122 Allls-Chalm Mfg .. 34 31 ,22 84 Am. Loco. Co 84 83 84 84 Utd Alloy S Corp 29 Bald Looo Wks 79 77 79 79 Beth Steel Corp... 67 65 67 56 Colo F & I CO.... 28 28 ZB 30 Hruclhla Steel Co.. 69 67 U. 69Vt 69 Am St Foun 29 28 29 29 Lack Steel Co.... 47 46 47i 47 Mid St A Ord.... 27 27 27 27 Pr Steel car Co.. hi so mo Rep I & St Co.... 67 66 66 67 Pv Steel Snrlnr... 84 83 83 Vi 84 Sloss-S. St A I.... 39 89 39 39 U S Steel 82 82 62 82 COPPERS. Ana Cop Min 41 40 41 41 Am 8 K Co.... 3 a Rutta Hii Min Co 13 13 13 14 Chile Cop Co 11 11 11 12 Chlno Cop Co.,.. 26 24 24 26 Cal & Arts 50 60 60 .... Insp Cons Cop.... 35 35 ID so lr.nn CnnlHr SI U, 20 20 21 Miami Cop Co.... 22 28 22 23 Nev Cons Cop Co.. 11 11 11 11 Ray Con Cop Co.. l Utah Cop Co 65 64 64 6a INDUSTRIALS. Am Bt Sugar Co.. 88 37 27 3 Atl O A W I S S.. 89 36 88 38 Am Int Corp .... 46 44 46 46 Am S Tob Co..... 65 64 64 64 r.nein nil 16 38 86 36 Am. Cotton OH Co. 19 is Am. Tel. ft Tel.. 106 104 104 104 American Can Co. 28 28 28 28 Chandler Motor Co. 6362 62 62 Cen. Leather Co... 26 35 36 $5 Cuba Cane Sugar., is n Ts "tt Cal. Packing Corp. 59 ea ; Cal. Petr. Corp... 44 42 43 42 Corn Pro. Rfg. Co. 68 66 68 68 Nat. En. ft Stamp. 52 61 61 51 Flsk Rub. Co.... 14 13 14 14 Gen. Electric Co.. 136 131 183 135 r.t Win A Wis-. 1 1 1 1 General Mot. Co... 11 10 11 11 Goodrich Co 36 36 3 Am. Hd. Lr. Co. 12 11 11 Haskell ft Brk. Co. 55 $4 66 65 U. S. Ind Alco. Co. 68 67 ti ott Inter. Nickel .... 15 15 16 16 Inter. Paper Co... 68 66 67 68 Ajax Rubber Co.. 30 29 30 31 Kellv-So'lnefd. Tl'e. 42 40 42 4t Kystne Tire, Rub.. 14 14 14 15 Max Motor Co.... 4 4 4 .... Mex Pet 149 147 149 147 Mid States Oil. ...149 147 149ft Pure OH Co 32 31 32 32 Willys-O Co 8 8 8 8 Pan-Am. P A T.. 66 63 66 65 Pierce-Ar Motor .. 24 23 24 23 Royal Dutch CO.. 62 61 63 61,a U S Rubber Co.... 70 68 70 70 Am Sug Rfg Co... 90 88 89 90 Sinclair OH ft Rfg. 24 23 23 25 Sears-Roe Co 77 76 77 76 Strom Carb Co... 36 35 36 36 Studebaker Corp .. 74 73 74 73 Tob Prod Co 67 '66 66 66 Trans-Con Oil .... 9 8 9 9 Texas Co 36 36 36 U S Food Pr Corp. 20 19 19 20 U S S R & Min.... 33 S3 33 34 The White M Co.. 39 88 38 38 Wilson Co Inc.... 40 40 40 40 West Airbrake.... 93 93 93 .... West El ft Mfg... 46 45 46 46 Am Woolen Co 7 la ii Total sales, S87.600. - Money Close, 7 per cent Tuesday's close, T per cent. Marks Close, .oioo ; xuesun-y .0163. M , Sterling Close, )i.)i; iuu $3.93. New York Produce. 4r Hi,, tr Firmer: hut,., than or t rrt 29 (7930a; creamery, extras, 29c; firsts. 2728c. KggS r irm; ireen gmucrcu, cu t iiibw, 26 27c; firsts, 23026c cneese uncuangeu. T.lu. PnnUrD TCan4er tirnllfllH. 35(S355C; dressed steady, unchanged. Bar Silver. New York. May 25. Bar Sliver Domes tic. 99c; foreign. 68c; Mexican dol-j Jars. 44 c I Thursday, Friday and Saturday Introducing a special event models the newest, most original designs the better styles tho finest materials from tha most Values up to Trading Stamps They Are Given i Omaha Grain Omaha, May 25. There was a much larger run of grain today than the average recent ly, wheat particularly showing a big increase, and corn arrivals were also larger. Wheat prices, taken gener ally, were unchanged. Corn ranged lc up to l-2c off. White was l-2c to lc up. No. 2 yellow was un changed to l-2c up, while No. 3 yel lowi was l-2c lower. Mixed was also lower. Oats were 1 l-4c to l-2c off. Rye and barley were unchanged. WHEAT. No. 1 hard: 2 cars, $1.60; 1 car, $1.60, (shippers weight); 10 cers, $1.59; 2 cars, $1.68, (smutty); 1 car, $1.69, (smut ty). No. t hard: 1 car, $1.68; I cars, $1.67; t cars, $1.66, (smutty); 1 car, $1.66, (smut ty). No. $ hard: 10 cars, $1.66: 1 car, $1.66, (smutty); 1 car, $1.64, (smutty). No. 4 hard: 1 car, $1.64 No. i hard: 3 cars, $1.52; 2 oars, $1.60; 1 car, $1.49, (smutty). No. 4 spring: 1 car, $1.62, (dark north ern). No. 1 mixed: 1 car. $1.67; 1 car, $1.48, durum heavy, (special billing); 1 car, $1.38, (smutty, sour). No. 3 mixed: 1 car, $1.40, (mixed red durum); car, $1.38, (durum). No. 4 mixed: 3-5 car, $1.40. Sample mixed: 1 car, $1.24. CORN. No. 1 white. 2 cars. 570. No. 2 white: 1 car, 57c; 2 cars, 55 c. No. 3 white: 2 cars, 55c. No. 6 white: 1 car, 62c. No. 1 yellow: 1 car, 66c. No. 2 yellow: 1 car, 66c; 4 cars, 56c. No. $ yellow: 1 car, 64c. No. 6 yellow: 1 car, 62c. No. 2 mixed: 2 cars, 62c. No. 2 mixed: 1 car. 63c, (shippers weights). . No. 6 mixed: 1 car. 49c, (musty). OATS. No. 2 white, $ cars. 26 c. No. 3 whits, 2 cars. 38c. RYE. Sample: 3-5 car, $1.40. BARLEY No. 2: 1 car, 67c, (shippers welghU). WOMAHA RECEIPTS AND SHIPMENTS. Today Wk. Ago Yr. Ago Wheat 110 22 47 Corn 65 22 29 Oats 26 7 13 Rye J J 2 Barley $11 Shipments Today Wk. Ago Yr. Age Wheat 69 41 ?3 Corn 46 I J7 Oats ' ? ; ?. ? x y Barley J CHICAGO CAM l.u 1 ncr-irio. . Today Wk, Ago Yr. Ago Wheat SO 16 i Corn 255 85 100 Oats ....101 19 2 KANSAS CITZ KKCHiir T3 Today Wk. Ago Yr. Ago Wheat ..196 . 127 J Corn ... 26 6 27 Oat 1 70 4 ST. LOUIS RECEIPTS. Today Wk. Ago Yr. Ago Wheat 1 76 102 Corn 87 28 43 Oats 83 26 48 NORTHWESTERN RECEIPT OF WHEAT Today Wk. Ago xr. Ago Minneapolis 218 228 158 Duluth 83 84 22 Winnipeg 190 132 110 PRIMARY RECEIPTS AND SHIPMENTS Receipts Today Year Ago Wheat -955,000 640,000 Corn 1,171,000 468,000 Oats 640,000 602,000 Shipments Today Year Ago Wheat 663,000 627,000 Corn 281,000 264,000 Oats 490,000 521,000 . EXPORT CLEARANCES. Today Year Ago Wheat 946,000 477,000 Corn 129,000 New York General. New York. May 25. Floui: Firm: spring clears. 67. 25 7. 76; hard winter straights, y.(ioi.MJ. Wheat Spot, market Irregular; No. 2 red, $1.86; No. 2 hard, $1.89, and No. 2 mixed durum, $1.83 c. i. f. traok New York to arrive: No. 1 Manitoba. $1.90 c. i. f. track first half June shipment. Corn Spot, market steady; No. 2 yel low and No. 2 white, 81 o and No. 2 mixed, 81ct No. 2 white, 81o and No. 2 mixed. 81 c. t f. New York 10-day- shipment. Oats spot.-market easy: do. i wnue, 83e. .... Pork Market easy; mess, $24.60 25.00. Evaporated Apples and Dried Fruits. 'w vork M,v 26. EvaDorated Ap ples Market' scarce. prunes ano . vrpncois achvo. Peaches Firm. 6,000 Pairs of White Poplin and Can vas Shoes for Men, Ladies and Misses, Consisting of Shoes, Oxfords,' Slippers, Pumps (Made by the U. S. Rubber Co., Regent Brand) remarkable the latest reliable cus mmic "reT2sP7 torn shoes manufacturers of this country. Values up to $4.50, on sale, special, at per pair l'$1.39 South Omaha With Each Purchase. Bonds and Notes Ths following quotations fumishsd by the Omaha Trust company, May 26, 1921: Appro. Ylld Price Per Cent Am. T. A T. Co. 6s, 1922.... 97 8.06 Am. T. ft T. Co. 6s. 1934.... 96 7.60 Anaconda Ts, 1929 96 ' 7.75 Armour 7s, 1930 95 7.66 Belgian Gov. 6s. 1941 97 9.23 Belgian Gov. Ts, 1946 98 7.66 Bethlehem 8teel 7s, 1922.... 97 8.00 British 6s, 1922 97 7.13 British 6s, 1929 91 6.90 British 6s. 1937 85 7.06 C. C. C. ft Bt. L. 6s, 1929.... 88 7.45 Denmark 6s. 1946 99 8.10 French Gov. 8s. 1946 99 8.06 B. F. Goodrich 7s, 1936 93 9.10 Japanese Gov. 1st 4s, 1926.. 84 9.10 Japanese Gov. 4s, 1931 66 8.76 Norway 8s, 1940 100 7.95 North. Bell Tel. Co. Ts, 1941.. 98 7.11 N. Y. Central 7s, 1930 99 7.02 Penn. R. R. Co. 7s. 1930 100 7.03 South. Bell Tel. Co. 7s. 1926.. 96 9.06 Swift ft Co. 7s. 1926 96 8.20 Swiss Gov. 8s. 1940 109 7.66 U. 8. Rubber 7s. 1930 99 7.60 West. Elec. 7s. 1931 29 T.10 New York Bonds. The following quotations are by Logan ft Bryan, Peters Trust furnished building: a 76 Atch. Gen. 4s 76 B. ft O. Gold 4s 67 Cent. Pac 1st 4s 72 67 i 73 C. B. ft Q Jt 4s 99 50f 99.60 C. M. ft St. P. Gen. 4s 66 W 66 75 C. & N. W. Gen 4s 74 L. ft N. U. 4s 80 N. Y. Ry. 4s , 20 fi 1 W 24 74 Nor. Pac. P. L. 4s 73 Reading Gen. 4s 75 76 80 96 75 U. P. 1st 4s "0 U. S. Steel 5s 94 U. P. 1st Ret. 4s 74 8. P. Cv. 6s 84 W S7H it 78 9. P. Cv. 4s 78 Penn. Con. 4Us 84 86 Penn. Gnn. 4s 76 76 C. ft O. Con. 5s 81 Ore. S. L. Ref. 4 76 ( 81 79 Foreign Exchange Rates. Following ars today's rates of exchange as compared with the par valuation. Fur nished by the Peters National bank. Par Valuation Today Austria 30 .0027 Belgium 196 .0862 Czecho-Stovakis .0151 Denmark 27 ' .1810 England 4.86 3.97 France 192 .0860 Germany 238 .0144 Greece 195 .0552 Italy 196 .0550 Jugo Slavla .0090 Norway 27 .1570 Poland .0015 Sweden 27 .2345 Switzerland 195 .179$ Canada 1 00 .8976 Chicago Stocks. The following Quotations are furnished by Logan ft Bryan: Armour ft Co. pfd 88 Armour Leather Co. pfd.... 126 Armour Leather Co. pfd.... 85 Commonwealth Edison Co.... 109 Cudahy Packing Co. common. 61 Continental Motors 6 Hartman Corp. common 76 Libby, McNeil ft Llbby 8 Montgomery Ward Co 20 National Leather 7 Reo Motor Car Co 17 Swift ft Co 97 Swift International .26 Union Carbide ft Carbon Co. .'. 46 Linseed Oil. Duluth. Minn., May 25. Linseed on track and arrive, $1.89. A Strong Publk Utility with earnings over twice interest charges The Portland Railway, Light & Power Com pany 7 Mi bonds can not be called for ten 1 years and matnre in 1946. Yield 7M Circular on request for OB-S92 The National City Company Omaha First National Bank Bldg. Telephone Douglas ttlS Phone Douglas 2793 7m IhWaiatoffOnVt OMAHA PRINTING COMPANY OfLtai ajTsmias- wsj wavMsj asaai ssasa Shi muMts iusi nUtlM Commercial Prikters-Lithoiraphers SteelDie Cksossxs . LOOSC LCAf f GRAIN 117 E solicit your consignments of all kinds of grain to the Omaha, Chicago, Milwaukee, Kan sas City and Sioux City markets. W e Offer You the Services of Our Offices Located at Omaha, Nebraska Lincoln, Nebraska Hastings, Nebraska Chicago, Illinois Sioux City, Iowa Holdrege, Nebraska Get in touch with one of these branch offices with your next grain shipment. The Updike Grain Company "The Reliable Consignment House" South Side Packer Trustees i To Visit Yards Representatives of Armour And Swift Interests to In spect Here Today. Hon. George Sutherland and Cot. Henry W. Anderson, trustees under the plan for the disposition of Ar mour and Swift company interests in stock yards, accompanied by H. J. Galloway, special assistant to Attor ney General Daugherty, in charge of packer litigation, will arrive in Omaha today at 11:15 p. m. for an inspection of the South Omaha yards. Friday morning they will be con ducted on a tour of inspection of the properties and in the atternoon from 1 to 3 they will meet with officers of the Live Stock exchange, commis sion men, shippers who happen to be on the market that day and Omaha bankers to discuss the disposal of the Armour and Swift interests in the South Omaha stock yards. They will leave Friday afternoon for Denver. Swift Employes Accept General Assembly Plan Swift employes in Omaha voted yesterday to accept the general as sembly play propose by company of ficials. Employes to serve in the general assembly were nominated and will be voted on Friday. Names of the nominees will be posted today. , Representatives of employes and of the company will serve in the gen eral assembly before which matters of the welfare of employes will be brought for settlement The plan Is to bring about a better understand ing between the employes and the firm by which they are employed, Swift officials declare. South Side Brevities Mrs. Terry Wheeler. 2701 E streets, will be hostens to the Women's Home and Foielsn Missionary society ot the Wheeler Memorial church, Thursday afternoon. . Mrs. Frank Klnseley's division of the aid society of Grace M. K. church will serve a 1 o'clock luncheon Thursday at the home of Mrs. Fred Lush, Fort Crook boulevard. Those attending are di rected to take the noon Fort Crook car and get oft at Child's erosslnsv , "Oh! Min" and Andy Gump And Their Bright Son. Chester, are sure to cheer you up with their funny doings every week day and Sunday in DCVICCS Geneva, Nebraska Des Moines, Iowa Milwaukee, Wis. Hamburg, Iowa Kansas City, Mo. The Va, Omaha Yp Bee fO