THE BEE: OMAHA, THURSDAY. JUNE 2. 1921.
18
170 Industrial
Companies Omit
Their Dividends
Collapse in Raw Material
Prices Causes Embarrass
ment to Central Leather
And Other. Concerns.
By HOLLAND.
Since October 1, 1920, 170 corpo
rations engaged in industry have
omitted their regular dividends. Five
railroad companies have passed their
dividends and nearly 100 corpora
tions, including railroads cut down
their dividends since October of last
year. This .statement standing by
itself would be regarded as almost
appalling. But the evidence is abun
dant fully to explain this action and
in the explanation is to be discov
ered good reason for regarding these
reductions or omissions as only
temporary.
Perhaps the most consplcuom action of
thl kind wii tho on taken by the
Central Leather corporation. When It
panged tta heretofore always maintained
dividend upon Ha preferred stock, and
the atatement waa made that lta surplua
of aome $36. "00, COO was no longer avail
able, then there waa apprehension that
In other industries corroding- Influences
which began after the war was ended
had alao eaten up surplua, making tha
payment of dividends Impossible.
Surplus In Skins.
But It was not exactly true that the
236,000.000 aurpius which tha Central
Leather company had accumulated in the
prosperous days of tha war had been
wiped out. This aurpius Is atlll repre
sented by a very large stock or limes ana
skins. It Is Impossible to pay dividends In
the form of leather although In the daya
of Rome something of that kind was
done. This corporation Invested its sur
plus as rapidly as it was accumulated
in" hides and skins. This Investment was
made at a time when tha raw material
of this kind was commanding a very
high price. But the business done by
the corporation was so extensive and Its
profits were so large that there seems
to have been no hesitation about con
verting the surplus Into hides and skins
although tha price, was high.
After tha armistice there began the
collapse in the price of raw material.
Many of the corporations had accumu
lated stocks of this material when the
price was high. Tha management of the
Central Leather corporation looked on In
dismay when the market price of hides
and skins was rapidly falling. They saw
tha quotations for calfskins of which they
had bought a large amount when the
price was mora than $1 per pound sink
so low that skins could ba bought for
Its per pound. The corporation pos
sessed a great amount of this raw ma
terial but It was worth far less than
tha sum which was paid for it
Surplus Absorbed.
From this point of view It Is not
accurate to say that the $36,000,000 sur
plus of this corporation was exhausted.
Tha surplus Is there In the form of
hides and skins. By and by when full
reaction has 'corns these raw materials
may Increase In price as In fact already
some of them have done, slightly. Ap-
farently tha bottom was reached some
ime ago In the market quotations for
these raw materials. Therefore, It Is
possible that after a time these materials
may represent not fully but fairly well
tha surplua money which the corpora
tion put Into them. Sines the passing
of this dividend criticism, not serious
but really no mora than suggestive, has
been made upon the hypothesis that the
managers of the corporation did not act
with the best Judgment when they con
verted their surplus Into raw material.
Tet some of tha ablest business men of
the country are associated with his In
dustry and they are men whose Judg
ment would always be accepted as sound.
First .Collapse. ....
The first collapse due to sudden and
.rapid falling In the price of raw ma
terial ' after tha armistice was slgnea
was that which distinguished the silk
business. Now this country Is beginning
to reoover. The crisis caused by tha
falling In tha price of raw silk seems
to have passed. Next came the collapse
In the raw wool market. Woolen manu
facturing Industries had converted some
part If not all or tneir surplus into raw
wool when the price was high. The
collapse In the raw wool market of course
AFlniislv affected the woolen manufactur-
tif Industry. Now that crisis seems to
have passed, tha woolen industry is im
proving.
Next came the collapse in the marKei
quotations for cotton. Enormous amounts
of raw cotton had been secured when the
price waa high and those who bought
this cotton or tha planters who held large
amounts of It seeking better markets
found themselves confronted with a situ
ation without precedent in the raw cot
ton industry. This may Improve bus
there will be required much banking o
corporation financing In order to secura
THE GUMPS
LOOK OUT BELOW!
Drawn for The Bee by Sidney Smith.
(Copyright, 1911. by Chicago Tribune Co.)
Market, Financial and Industrial News of the Day
Live Stock
June 1
Receipts were - Cattle Hogs Sheep
Official Monday 2,311 8,678 5,790
Official Tuesday 6.42 6.763 8.893
Estimate Wednesday.. 9,200 11,000 6.700
Three days this wk... .17,942 20.431 17,38
Same days last wk.... 15,112 40,828 16,763
Same days 2 wks ago..l9,nie 25,897 14,84
Rama daya 3 wks ago.. 18727 32.818 23.647
Sams days year ago... 11.740 32,513 8,659
Receipts and disposition of live stock
at the Union Stock yards. Omaha, Neb,
for 24 hours, ending at 3 o'clock p. m.
June l, I9ii:
RECEIPTS CARS.
Cat. Hgs. 8hp. Mules
C, M. ft St. P. Ry 18 7
Wabash R. R
Mo. Vac. Ry 16
Union Pacific R. R....111 89 20
C. ft N. W. Ry., east.. 9
C. ft N. W. Ry., west... 23
S., St. P., II. ft O. Ry.. S3
C B. ft Q. Ry., east.... 22
C, B. ft Q. Ry., west.. 48
C, R. I. ft P., east 40
C, R. I. ft P., west.... 8
Illinois Central Ry. .... 1
C, Q. W. Ry
8
89
4
44
11
8
24
6
2
2
2
Total receipts .397 162 21
DISBURSEMENTS HEAD.
Cat. Hgs. Shp,
Armour ft Co ....1.425 2,661 1,653
Cudahy Pkg. Co 1,142 2,701 1,307
Hold Pkg. Co 396 979
Morris Pkg. Co 1,206 1,838 2,635
Swift ft Co 1,820 1,841 1,
J. W. Murphy 1,111
Soon afterwards tha collapse In the
market price for hides and raw skln
began. It was continued until the prices
were lower than any that had been re
ported for many years. And as much oi
the surplus gained In war days by this
Industry had been converted into hides
and skins when tha price was high, there
did follow embarrassment which has
caused tha passing of dividends.
Finds Ready Market.
Tet there Is ona feature In the loathe
Industry which shows that It Is not dead
but only partially paralysed. One cor.
poratlon In New York state whose out
put IS exclusively learner ijmuw hm .,.
sklns has prospered, is paying its custo
mary dividends and find no difficulty
In marketing Its product. Tl corpora
tion, however, foresaw the collapse, pre
pared Instantly for It, wrote off its losses
and started almost anew soon after the
armistice was signed. It therefore founa
Hself in a strong position for It waa
able to buy skins when tha market price
for them was at the lowest point.
Although millions of the earnings gain,
d by tha United States Steel corpora
...... th, wo r vui In nrogress were
expended In enlarging plants or building;
new ones so inm it woum
to accept government contracts, never
theless the steel corporation managers
were careful constantly to maintain their
surplus In the form of cash or high-grade
securities. So that now In case this cor
poration found its earnings did not Justify
the payment of . dividends nevertheless It
could conlinua these payments for sev
eral yeara by utllliing the surplus roi
that purpose. '
Omaha Produce.
Eggs Fresh, No. 1, 6.00; No. 2, 13o;
Crpo'ultr-Llve': broilers, 1' to 2pound
each, 30c; hens and pullets over 2 pounds,
JOo: hens and pullet 3 pounds and under,
20o; old cocks, 11c; ducks, fat, 16c; geese,
fat. 12c; turks, faV 9 pounds and up.
J5o; turkeys, rat, unaer s f1"1"'
on poultry are for No. 1 stock.
Butter Fresn, ic
Egg Cases New cases complete, 480
each; second-hand cases complete, SOo
each; new tillers. 12 sets per case, $2.25;
X. D. cases, lumber only, 25c each.
Turpentine and Bosjn.
Savannah. On., June 1. Turpentine
Steady, 6454Ao; sales, 800 bbls.; re
ceipts, 257 bbls.; shipments, 1,899 bbls.:
stock. T.670 bbls.
Rosin Firm; sales, 801 casks; receplts,
695 casks; shipments, 2,891 casks; stock,
76.724 casks.
Ouote: W. t8.B0WS.6O; D, 3.T0; E F O.
13.80: H. 83.00; I. 84.00; K. 84.60: M, 25. 25;
N. $6.25; VG. 26.25.75; WW, $7,000
7.25.
New Tork Sugar.
New York. June 1. The raw ugar mar
ket was unsettled today, but In the
main easier, under Increased offerings of
free duty sugars, There were sales early
of 14,600 bags of full duty sugars at 8e
e. 1. f. equal to 5.25c for centrifugal, 7,600
of Porto Rlcos end 7,700 bags of
Cuba ex-store, at 4lfo for centrifugal
"! at the close 30,000 bags of Porto
Rlcos sold at equal to 4.89o for centrifugal.
New Tork Cotton Goods.
New York, June 1. Cotton goods were
steady today, with trade quiet. Tarns
showed little or no change. Th attend
ance of buyers In the markets was larger
than usual. Spot demand for underwear
and hosiery continued steady. A larger
confidence In wool goods values wa ex
pressed in consequence of tha new tariff
Chicago Potato.
Chicago, June 1. Potatoes Receipts, 47
ears; old, steady; northern white, sacked
and bulk. 60 65c; ewt; new. stronger;
Texas Triumphs, $2.75 cwt.; southern
cobblers. 5.25?5.60 bbl.: Virginia. $5.7$
white. $:.002.i5 cwt.: - South Carolina
cobblers. $5.25 5.50 barrels; Virginia, $5.75
bbl, ,
Swartx & Co 219
Lincoln Pkg. Co. 28
Wilson Pkg. Co 203
M. Olasshurg 21
Hlgglns Pkg. Co. 63
Hoffman Bros 26 ......
Mayerowich & Vail 89 .....
Midwest Pkg. Co 13
P. O'Dea 26
Omaha Pkg. Co , 36
John Roth & Sons 13 .....
So. Omaha Pkg. Co 23
J. H. Bulla 4
Cudahy Bros 76
Ellia & Co 7 .....
John Harvey 1,096
F. Q. Kellogg 6 '
Joel Lundgren 2 .....
Ogden Pkg. Co 136
J. B. Root & Co 163 .....
Sullivan Bros. ' , 81 .....
Werthelmer ft Deft en... 85
Other buyers. 696 2,191
Total
V
.8.688 11,001 10,644
London Money.
London, June 1. Bar Silver S3HS ner
Ounce.
Money 414 per cent. .
Discount Rates Short bllla, Stt per
eent; $ months bills, $ 11-1$ per cent.
In North Dakota worsen, while
allowed to vote, do pot have to pay
a poll tax.
Cattle Cattle receipts were estimated at
9.200 Wednesday but as fully 1.600 head
of these wero southern cattle billed
through the actunl offerings were less than
8,000 head. These were largely beef
steers of very good quality and the mar
ket was slow with prices largely 15 25c
lower than Tuesday. Some desirable year
lings selling at $8.258.50 did not show
vary much decline, the brunt of the loss
falling on the plain heavy and medium
weight cattle selling around iy.6umis.uu.
Cows and heifers were In only moderate
supply, but showed fully as much decline
as the beef steers. Offerings of stockers
and feeders were limited and prices un
evenly lower.
Quotations on Cattle Choice to prime
beeves, 88.268.60; good to cnoice beeves,
$7.9008.25: fair to good beeves, $7.60(S
7.85; common to fair beeves, $7.007.60;
choice to prime yearlings. $8.3608.50:
good to choice yearlings, $7.90ig8.26; fair
to good yearlings, $7.407.90; common to
fair yearlings, $6.757.85; choice to prime
heifers, $7.257.76; good to choice neiters,
$6. 007.25; choice to prime cows, Jts.ZMtf
6.76: good to choice cows. $6.756.26;
fair to good cows, $5.005.75; common to
fair cows. $2.004.00; good to choice
feeders. 17.2547.75: fair to good readers.
$6.6007.25; common to fair feeders, $6.00
06.50; good to cnoice stockers, (.z(g
7.75: fair to good stockers, $6.5007.26;
common to fair stockers, $5.0006.26; stock
heifers, $4.5006.00; stock cows, 3.&u8
4.75; veal calves, $5.0008.00; bulls, stags,
etc., $4.0006.00. . ,
BEEF STEERS.
Av. Pr. No. Av. Pr.
..1148 $ 7 65 42. .....1299 f 7 80
1129 7 85 18 1418 7 0
No.
19...
21...
82...
13. . .
19...
20...
44...
13...
9...
IT...
16...
10...
...
T...
1...
1...
t...
29...
1...
..1233 8 00 18 1081
..1181 8 10 22..... .1211
..1327 8 25 . 1311
..1192 8 80
STEERS AND HEIFERS.
641
757
756
.. 727
.. 772
.. 993
.. 782
-.1024
..1330
..1140
.. 153
.. 136
.. 160
8.
7 60
T 85
8 10
YEARLINGS.
7 50 20
8 00
COWS.
6 35 11....
HEIFERS.
6 25 13....
6 90
BULLS.
4 00. 1....
8 25
CALVES.
t 00 3..
866
76
8 05
8 15
t 35
1 65
8 00
984 7 76
769 t 40
818 ( 50
7 25
to
480
433
t 190
( SO
6 75
7 50
Hogs About 11,000 hogs were received
today and trade waa featured by more
active buying on local packing account
and a less urgent inquiry from shippers.
Average prices were not far from a steady
basis although Individual sales were
quoted at small declines and advances,
depending upon whether salesmen sold to
shippers or packers yesterday. Best light
hoes made a top of $7.75 and built of
the receipts moved at $7.1007.60.
HOGS.
Sh. Pr. No. Av.
40 $ 6 90 56. .312
70
No. Av.
67. .319
60. .299
28. .291
61.. 246
55. .270 270
87. .217 70
64. .216 ...
J0..203 ...
Bh. Pr.
... $ 7 00
320 7 10
7 20
7 30
7 40
7 55
7 (6
7 76
and lambs
40
7 05 64. .275
7 15 25. .288
7 25 72. .273
7 35 30. .240
7 60 48. .204
7 60 90.. 178
7 76 89., 198
Sheep Arrivals of sheeD
were estimated at E.700 head, bulk con
slating of California springers. Trade in
this claas of stock was quotably steady
and the market as a 'whole showed no
material change. Packing demand had a
fair degree of activity from the start and
best California spring lambs brought
$12.26 with native springers reported at
$11.00011.50. Fed shorn lambs were
scarce and are worth up to $11.25. Good
awes are still selling around $3.0003.50,
as low as at any time this season.
Quotations on sheep: Spring Iambs,
$9.75013.26; shorn lambs, $9.60011.25
shorn ewes, $2.7503.50; cull awes, $1,000
2.50,
Financial
By ALEXANDER DANA NOYES.
Chicago Tribune-Omaha Bee Leased Wire,
New York, June 1. Moving more'
consistently than the day before,
today's markets witnessed a sharp
recovery in sterline exchanee.
further rise in contracts for future
deliveries of wheat and an advance
of railway shares in response to the
labor board's definite announcement
of a 12 per cent cut in wages. In
dustrial stocks declined again in the
early market, some of the losses
reaching 1 to 3 points, but a general
recovery during the later hours can
celed most of those declines and left
a good part of the market higher
than at Tuesdays closing.
To any one who expected that all
the advance made last July m rail
way wages would be canceled by
tne laDor Doara, tne present decision
will be disappointing, such can
cellation would have required an
average cut of Ylyi per cent, redtic
intr the payroll theoretically $650,'
000,000, whereas the board now esA
timates the reduction actually made
as 12 oer cent and the saving 3!
$400,000,000. But any one familiar
with the arbitration boards must
have recognized the entire probabil
ity of a compromise decision.
Two Big Questions.,
The two immediate ouestions are. first,
trhpthei railway labor will accept the ver
dict and second whether the resultant
savins- in wane costs will put the railways
solidly on their feet. The acqulescenco
by the unions is rendered more proDame
from the fact that the relatively small
reduction is a victory for them.
But the matter of railway net Income
after the wage reduction is hard to judge,
in thA first three months of. 1921 railway
net earnings were nearly $200,000,000 short
of what they should have been n tne es
timated 6 per cent on property valuation
is to be produced. A. cut of $400,000,000 in
annual wage costs obviously would not
meet that deficiency. But on the other
hand, economies of a drastic sort are oe
Inr introduced In other wavs through al
tered working rules or reductions of work,
ing forces.
Sterling exchange, which closed at
$3.88 the day before, rose to $3.92 today,
under what waa at times active bidding.
The day's high rate represented recovery
of 7 cents from the low II sure quoted in
the London trading Monday; in other
worda nearly one-half of the extreme de
cline which accompanied transfer of tho
reparations credits to New York bad been
regained.
Chicago Live Stock,
Chicago. June 1. Cattle, receipts. 11,-
000 head; handyweight beef steers, steady;
others, 10025c lower; top, $9.40; bulk,.
$8.0008.76: butcher she stock, bulls, stock
ers and feeders, steady;, bulk fat cows
and heifers, $5.2606.76; canners and cut
ters, cows mostly, $2.7603.75; bulk bulls.
84.60IS5.75: calves, 25c higher; hulk veai-
ers, $7.0008.76.
Hogs Receipts. 17.000 head; market,
slow; opening, steady to lOo higher;
calves, steady to 15c lower than yester.
day's average: big packers, very spar
ing buyers; hold-over liberal; top, $8.20;
bulk, 7.vt)ij8.iu: pigs, strong to nigner;
bulk desirable, $8.0008.10.
Sheep and Lambs Receipts, 14,000
bead; market, steady to 25c higher; shorn
lamb top, $12.00; California springs,
$13.15; bulk native springs, $12.00012.60;
few loads, $12.76; Montana wethers, $5.00;
ewe top, $4.50; bulk fat ewes, $3,500
.25.
New York Coffee.
New York. June 1. The market for cof.
fee futures was lower today under liqui
dation of old long accounts In the ab
sence of any Important demand. Reports
of rallies In the primary markets and
rumored private cables that importers
here would have to raise -their bids to
MecnrA rnffee from Brazilian shinnera ev
idently failed to make any impression 6n
sentiment, as closing prices were within
2 or 3 points of the lowest. The market
opened at a decline of t to 13 points and
sold 14 to 17 points net lower on the act
ive months, with September touching 6.61c
and closing at 6.64c bid. The general
market closed at a net decline of 13 to
6 points. July. 6.29c: September, 8.6 4c:
October, 6.79c; December, 7.08c; January,
18c; March, 7.28c; May. 7.62c.
Snot coffee waa reDorted In moderate
demand at 6c for Rio 7s and 8c for
.intos 4s.
New York Cotton.
New York. June 1. The cotton market
was comparatively quiet and rather ir
regular during today's early trading.
Another private crop report was pub
lished, placing the condition at 66.11c and
reduction in acreage a little over 30 per
cent, with an Indicated yied of 7,600.00
bales. There were also complaints that
the crop was beginning to need rain In
some sections and reports of boll weevil
from Georgia, but the advices failed to
create any general buying.
After opening steady at a decline of 1
points to an advance of 1 point, active
months sold soma 4 to 6 points below
Tuesday s closing. The south was the
chief seller on tha decline to 12.88c for
July and '13.66a for October.
New York Quotations
Kansas City Live Stock.
Kansas City, Mo., June 1. (U. 8. Bu
reau of Markets.) Cattle Receipts, 7,300
head; beef steers, steady to weak; practi
cal top, $8.60; few head, $8.7608.80: she
stock and bulls, weak to 25o lower; bulk
cows, $4.6006.75; all other classes slow
and weak; practical top on vealers, 18.60;
one load fancy 1,600-lb. Texas feeders to
Illinois buyer, $8.60.
Hogs Receipts. 18.000; market slow,
uneven, barely steady with yesterday's
average, best lights to shippers and pack-!?i.,7-.6:
top' erlJr V.lt; bulk of sales,
$7.2507.60; packing sows and pigs, steady.
Sheep and Lambs Raoelpta, 6,60 head;
killing classes, steady to 26c higher; best
Texas wethers, $4.35; native spring Iambs,
$11.75; bulk better grades, $11.00011.50;
Texas goats, $3.85.
Sionx City Live Stock.
Sioux City, la., June 1. Cattle Re
ceipts, 4.700 head; market, 20125c lower;
fed steers and yearlings, $6.0002.50; fat
cows and heifers, $4.6008.00; canners,
$3.0004.00; veals, $6.0008.60; calves,
$4.5007.00; feeding cows and heifers.
4.0006.26; stockers, $5.0007.35.
Hogs Receipts, 6,200 head; market
steady; light, $7.607.75; mixed, $7,160
7.60; heavy, $6.6007.26; bulk of sales,
$7.1007.66.
Sheep and Lambs Recelnts. 150 head:
y market steady.
New York General.
New York. June 1. Wheat. Spot, strong:
r. 2, $1.80 14; No. 2 hard, $1.82, and No.
mixed durum, $1.8014, c. i. f track.
New York, to arrive; No. 1 Manitoba
81.89U, c. 1. f. track. New York, first
half July shipment.
corn spot, rirm; no. x yellow and no,
white. 88c: No. 2 mixed. 87Uc c i. f..
New York.
Oats Firm; No. 1 white, 63a
Tallow Easier; Special loose, 6c.
other articles, unchanged.
Liberty Bond Prices.
New York, June 1. Liberty bonds at
noon: iUi. 87.20: first 4s. 87.80 bid: sec
ond 4s, 86.86; first i: 87.64; second 4 Vis,
86.86; tnira 4Hs. o.4: rourtH'4Hs,
86.94; Victory 3s, 98.04; Victory 4s,
98.02.
Liberty bonds closed: 3tts, 886.84; 1st
4s, $87.40, 2d, 4s. $86.86; 1st. 4 Vis. $87.60;
2d. 44s. $86.92; 3d 4s, $90.54; 4th 4 Vis,
$86.92; Victory SHs. $98.14; Victory 4s,
$98.16. '
St. Joseph LIt Stock..
St. Joseph, June 1. Cattle Receipts,
2.000 head; market, steady to 26c higher;
steers, $6.6008.60; cows and heifers, $4.60
8.26; calves, $5.0007.50.
Hogs Receipts, 10,000 head; market
opened 10a lower; top, $7.66; bulk, $7.25
07.65.
Sheep Receipts, 4,000 head; market,
steady to 26c lower; spring lambs. $10,600
11.60; clipped lambs, $9.00010.00; ewes,
$3.264.00.
New York Produce.
New York, June 1. Butter Firm;
creamery, higher than extras, 29tt30c;
creamery extras, 29c; creamery firsts, 26
28 Vic.
Eggs Firm, unchanged.
Cheese Steady to firm; unchanged.
New York, June 1. Live Poultry
Weak; roosters, 12c; turkeys. 20o; dressed
Soultry, steady, western chickens, boxes,
6O60c; old roosters, 16021c
Bar Silver.
New York, June 1. Bar Silver Do
mestic 99ie; foreign. 67fcc
Mexican Dollars 44 tie. '
Range of prices of the leading stocks
furnished by Logan 4 Bryan, Peters
Trust building.
RAILS.
Close
High Low Close Tues
A., T. AS. F.... XI 81 81 81
Baltimore & Ohio. 41 40 V4 40 40
Canadian Pacific .11254 111 111 114
N. Y. & H. R. . 69 68 68 69
Chen. & Ohio... 68 58 68 68
Erlo R. R 14 14 14 1414
Gt. Northern, pfd. 68 4
Chi. Ut. Western
Illinois Central ... 80
Mo., Kan. & Tex. 2
Kan. City South... 87
Missouri Pacific ... 22
N. Y., N. II. H. 19
Northern Pacific ..71
Chi. N. W . C5Vi
35)4
72
83
75
20
68 8 67
, 7
90 90 ....
2 2
26 27 27
21 22 22
19 1 19
7014 . 71 70
65 66 65
36 36 85
70 71 70
32 23 83
74 76 74
20 20 20
28 V4 28 28
118 120
Penn. R. R
Reading Co ....
C, R. I. & P...
South. Paciflo Co
Southern R. R...
CMi. Mil. & St. P. 28
Tlnlnn Pacific 118A4 117
Wabash 8 8 8
STEELS.
Am. Car ft Fdy.123 12314 123 122
Allis-Chalm. Mfg.. 82 31 81 81
Am Loco Co 84 63 84
Baldwin Loco Wks 82 81 82
Beth Steel Corp.. 66 66 66
Colo Fuel, iron uo av to "
Crucible Steel Co.. 69
Am Steel Fdrvs.. 29
Lackawanna Steel. 47
Midvale Steel, Ord 27
Pressed Steel Car
Rep Iron, Steel Co 65
Sloss- Shef Stl Iron 38
United States Steel 80
Anaconda Cop Min 40 39 40
Am Smlt, Rfg uo 4Z
Butte. Sup Min Co 18
Chile Copper Co.. 11
(Jhlno copper jo z
Calumet & Ariz... 48
Insplra Cons Cop. 84
Kennecott Copper. 20
Miami Copper Co. 22
Nev Cons Cop Co. 11
Ray Cons Coo CO 13
Utah Conner Co... 63
lIjlJUi9rnlAiiO.
Am Beet Sug Co.. 36 86 36
Atl, G & W I S S 37 35 37
Am Internat Core 46 43 46
Am Sum Tob Co.. 60 68 60
Fac t e Oil 18 18 18 &
Am Cotton Oil Co 18 18 18
64
28
46
26
'64
38
78
42
13
11
24
48
34
20
22
11
13
52
65
29
46
27
"56
38
80
42
13
11
24
48
34
20
22
11
13
63
84
82
55
29
68
29
46
27
81
64
38
79
39
42
'ii
24
35"'
20.
22
11
14
53
36
36
44
69
25
19
Chicago Grain
Am Tel & Tel 104 104 104 104
American Can Co. 30 29 29 29
Chandler Mot Car 62 1 62 61
Central Lthr Co... 87 86 87 36
Cuba Cane Sug Co 18 15 17 16
Cal Pack Corp 68
Cal Pet'm Corp.. 42 41 42 42
Corn Pdcts Rfg Co 68 67 68 68
Nat Enam, Stamp 61 49 61 60
Fisk Rubber Co... 14 13 13 14
Gen Electric Co... 133 133 133 134
Gaston Wms, Wig 1 1 1
Gen Motors Co... 10. 10 10 10
Goodrich Co 36 35 36 36
Am Hide, Lthr Co 12 11 12 12
U S Ind Alcohol Co 66 65 65 66
Internat Nickel... 15 14 14 16
Internat Paper Co 68 66 68 66
Ajax Rubber Co.. 28 28 28 28
Kelly-Spr'gfld Tire 89 38 38 88
Keystone Tire. Rub 13 13 13 14
Maxwell Motor Co 4 4 4
Mexican Pet'm 149 146 149 148
Middle States Oil. 13 12 13 13
Pure Oil Co 31 30 31 31
Willys-Overland Co 8 8 8 8
Pierce Oil Corp... 9 9 9 914
Pan-Am Pet, Tran 66 64 65 65
Pierce-Arrow Mot. 22 21 22 22
Royal Dutch Co.. 59 68 69 58
U S Rubber Co... 67 65 C7 67
Am Sug Rfg Co.. 85 83 84 87
Sinclair Oil, Rfg.. 23 23 23 23
Sears-Roebuck Co. 77 75 77 76
Strom'b'rg Carb Co 37 36 37 76
Studebaker Corp.. 72 69 72 71
Tob Pdcts Cs 66 55 56 65
Trans-Cont'tal Oil. 9 9 t 8
Texas Co 36 85 85 86
U S Food Pr Corp 20 19 19 19
U S 8m, Rfg; Min 38
White Motor Co.. 37 87 87 38
West'gh'se El, Mfg 46 46 46 46
Am Woolen Co... 72 71 72 72
Total shares Sold, 608,600.
Money Close. 7 ner cent: Tuesday's
ciose, ivi per cent.
warns close, ,uibi; Tuesday elosa,
Sterling Close. 23.90: Tuesday's elosa
a.oi.
Bonds.
Tha following Quotations are furnished
py Logan & Bryan, Peters Trust building
Am. Smelt. & Rfg. 5s 76V 76V4
Am. Tel. Col. 6s, 1946 82 82
Armour 4Vss, ivjv 7V
B. & O. Ref. 6s. 1996... 69 m 69U
B. & O. Cvt. 4 Vis, 1932 68 O 68
i-ai. uas uni. os, i37 bs ee...
C, M. & St. P. Oen. 4s, 1932 67 67
, in. z 01. r. uen. 05 xtei.
4Us. 2014 ... HOUfRi 1
C, R. L ft P. Ref. 4s, 1924 66 0 66
OE TV. U. UDL 43. IHdH ,1 ffn , U
Gt. Nor. 4s. 1961 78 ...
III. Central Joint 6s, 1938.... 73 74
Mo. Pac Ref. 6a, 1923 90 91
rtu. nu. OS, ivzo. ...... S3 (0 S3
Mo. Pac Gen. 6s, 1976 78 O 80
Klo Grande W. 1st 4a. 1939. . nuo isu
St. L. ft 8. F. Gen. 6s. 1927 87 87
St. L. ft S. F. P. I. 4 IsM sftat ibi mi.
St. L. ft S. F. Adj. 6s, 1956 66 66
St. L. ft S. F. Inc 6s, I960.. 50 61
x . ge D. w . inter br ly!,? iiu m kh
Wilson 6s, 1941 85 87
n. c. sou. 5s. 1959.. 74ia 751
O. W. 4S, 1959 49V4a 49 31
40 40
78 O 74
81 82
62 53
67 O 68
Sea Bal 4s. 1989.
Colo. Southern 4s, 1935,..
v. us..;
R. T. 6s.
Hud. ft Man. Ref. 6s......
New Vnrk flnvk B.nl.-
The following nnotnflnna r. Vnml.k.
uy Ltogan a srran
Allied Oil ."
Boston Montana.
Boston Wyoming,
muu uuia .....a
Cosden Oil
Consolidated Copper
Elk Basin .....
Federal Oil .
Glenrock Oil
Island Oil
Merrit OH
Midwest Refining Co. ..
Silver King of Arizona ..
Sapulpa Oil
Simms Petroleum
Tonopah Divide
V. S. Steamship
U. S. Retail Candy .
White Oil
.50
.11 69
. 0 16-18
. 1 1 15-16
. 6 7
. 10 1
. 7 7
. 1 2
. iviO 1
.
.9 10
.142 O 144
. 10 20
.4 0 4
.7 8
... .11-16 1
1 1
7
... J
... 12
o.
Foreign Exchange Bates.
Following are today's rates of exchange
as compared with the par valuation.
Furnished by the Peters National bank.
PaM V.I ....... .
"U.U IK .,..,,
Belgium
Ciecho-Slovakia
Denmark ......
England
francs
Germany .,
Greece . , . ,
Italy
Jugo-BIavia
Norway . . ,
Jfoiand
Sweden
Switzerland
Canada
.30
.196
'.ii'
4.86
.193
.238
.195
..196
.'27'
!27'
.196
1.00
.0026
.0845
.0148
.1786
1.91
.0845
.0160
.0580
.0632
.0083
.1635
.0014
.2306
.1760
.8960
. M Chicago Storks.
The following quotations are furnished
by Logan ft Bryan:
Armour ft Co. tfd . ttu.nn 11
Armour Leather Co. common. 12 ....
Armour Leather Co. pfd... 830 ....
Commonwealth Edison Co... 109 ....
Cudahy Packing Co. common. 60 61
Continental Motors , 6 ....
Hartman Corp. common ... 76 ....
Llbby, McNeil ft Llbby.... 80 ....
Montgomery Ward Co 19 ....
National Leather 7 7
Reo Motor Car Co 17Utfl
Swift ft Co 97 97
Swift Interne tional 46 0 ....
United Carbide ft Car. Co.. 4614 ....
By CHARLES D. MICHAELS.
Chicago Tribune-Omaha Bee Leased Wire.
Chicago, June 1. Grain prices
moved upward surprisingly today
and held the greater part of the gain
at the last. The movement was con
trary to expectations, as the read
justment in wheat from a May to
to a July basis necessitated
drop of 20 to 30 cents in cash wheat
values. A factor that turned prices
upward was the bullish crop reports,
which placed the damage, which the
trade has had knowledge of for sev
eral weeks, in plain figures and
showed worse than many had ex
pected. This started a buying move
ment in all grains and at the last
wheat was'8$4c higher for July. Corn
showed gains of lft2c, oats -J4
lMc and rye 66Kg7c.
Wheat traders discovered that the
surplus of the July had recently been
taken off the market by exporters
and that for the present, the July
was in about the same fix as the
May, there being an oversold con
dition with light stocks and export
ers holding the contracts. At no
time was there a selling pressure of
importance and the July delivery ad
vanced from $1,295 to $1.374, with
the close at c under the top. For
the first time m the history ot the
trade, eoing back over 40 years
there is only one delivery at present
to trade in. I his is due to uncer
tainty as to legislative action at
Washineton and . Springfield, which
is against any extension of tradipg
m futures for the time being.
Trade Caught Short.
The private crop reports arrived at the
important, time when the trade was look
ing for news and showed less than most
expected. It caught the trade without
any wheat, as a majority of interests had
unloaded late Tuesday, expecting a break.
The B. W. Snow report showed
99,000,000 bushels winter and 245,000,000
bushels serin, a total of 844,000,000
against 786,000,000 bushels harvested last
year. The condition of 80.7 was practically
8 points less than in May and 1.1 below
tne lu-year average. opring ww
acreaae is artven as 17.652.000 acres,
decrease of per cent, with the acreage
93.9, against 91.2 last year.
Corn and oats were bought freely an!
July corn advanced 2o to 67c with
tne close iWHC unaer me xup. dcij
tember finished at 68 c to 68 c. In
oats, July closed at the top at 42c and
Sentember at 424ic or o from the high
point. Selling was by local traders in tho
main, particularly in oaia, wniio me Dur
ing of corn was headed by Jackson and
Clement Curtis, ana in oais oy oiein.
nrrin. Warner and Bartlett Frazier. Coun
try offerings were liberal and shipping
demand poor. Crop reports on oats were
more favorable and the corn is geiiing
a good start, having gone into the ground'
in excellent conaition.
Rye was hard to buy and July closed
at 81.29, the highest of the day, and
September 16 c under the July. Seaboard
exporters ana snorts were mo oesi w
era.
a l lo. lit Villainous was on in provisions,
with local operators selling lard early and
hiivinr later. The trade on the whole
was light, and lard and ribs closed 8c to
Be nigner, wnne pora was uuu nu
nnraii AHc Hops were higher. 'With re
eelpts lighter. Stocks increased 27,000,000
pounds lor tne montn. . .
Pit Note.
A more friendly feeling exists in all
ruins, narticularly in wheat. The dis
position for the time being is to buy on
the breaks. Exporters are taking the
wheat to a fair extent, , although their
nn.ntlnm are restricted by their in
ability to hedge by purchasing Septem
ber against sales oi casn grain.
Strength In the cash markets in the
southwest which were 3o to 10c higher,
combined with the lowering in the winter
wheat yield and the cutting of the spfing
wheat acreage of per cent, put a check
to selling pressure on futures and brought
in a strong class of buyers who were not
hampered oy excessive oiiermss uum
the bear side. A few of the largest
traders who have been bearish expressed
bullish sentiments at the close and the
trade seems to be swinging around to
the belief that grain prices, particularly
coarse grains, have been too low.
Tho big movement of corn from Illi
nois and Indiana is said to be over, but
Iowa is selling a fair quantity. The
basis of 67c for July corn in Chicago gives
farmers about 60o In eastern Iowa, which
Is expected to increase their selling. This
price has been in force In Illinois for
several weeks and has brought out mil
lions of bushels from first hands.
No decision on the settling price for
defaults on May wneai nas oeen
by the committee which was in session
during the day and is expected to be
tomorrow. It Is understood that they
are considering the price of wheat In
other markets In fixing the commercial
value at Chicago.
June exports of wheat will be large
according to a leading exporter, but prob
ably will bo smaller than in May and
AGaivesi cleared 2,684.000 bushels for
the week. The movement to the gulf
ports shows no falling orr in consequence
E. F. Leland ft Co.;s Minneapolis office
''"Continued excellent crop prospects
northwest with Improved receipts, due to
northwest farmers letting go of their
wheat on the bulge and the continued
poor flour business is causing heaviness
in the markets here. It looks as though,
tviti, fAntiminrl exnort business causing
buying of Chicago July where there must
already be a big short interest, that
market would gain and sell at higher
premiums oyer ours. ' ...
The rtce current uroji xvepuncr -"Recent
rains have improved the con
dition of winter wheat, which snouia
turn out 600,000.000 bushels or better,
nnrin. wheat nronnects. both In the north
west and in Canada, are very favorable,
corn planting is about completed and the
usual replantlngs are being made. . .
J. Rosenbaum Grain company had the
following from a leading Paciflo coast
grain Interest:
Tne wneat crop in nMiiuiniuii.
gon and Idaho is in xne pina ol eru
dition."
Omaha Grain Bonds and Notes
. Omaha Hay Market.
Prairie Hay Receipts, light. Little de
mand. Prices firm.
Alfalfa Receipts very light. Vary little
demand. Prices lotfer.
Straw No receipts. rair aemano.
No. 1 upland prairta hay. 812.00 to
812.00: No. 2 uoland oralrle hay. 89.C0 to
810.60; No. 8 upland prairie hay, 27.00 to
28.00; No. 1 midland prairie hay, 211.00
to 812.00: No. 2 midland prairie hay, 28.00
to 29.00; No. 2 midland prairie hay, $6.
60
to 87.60: No. 1 lowland nrairie hay. 88.60
to 89.60; No. 2 lowland pralria bay, 16.60
to 97.60.
Choice alfalfa, 120.00 to 822.no; no. i
alfalfa. 818.00 to 819.00: Standard alfalfa,
812.00 to 217.00: No. 2 alfalfa, 88.00 to
211.00; No. 8 alfalfa, 27.00 to 68.00,
oat straw, 88.00 to a.oo.
Wheat straw, 27.60 to 88.00.
London Metals.
London. June 1. Standard Conner. (78
8s d; electrolytic, 76; tin, 1172 2s (d;
lead, 22 16s; sine, 27.
Unseed Oil.
Duluth. June 1. Linseed on track and
Omaha, June 1.
Cash wheat prices ranged from Sc
to 9c higher, the bulk in the good
grades 8c to 9c up. Demand at the
going prices was a little slow put
was sufficient to absorb the offerings,
which were limited. Corn ranged
14c to 2c higher. Oats were lAt to
lc up. Rye and barley were un
changed. Corn receipts today were
fairly substantial and oats light.
WHEAT.
No. 1 hard, 1 car. 81.65; 1 car 11.68.
No. 2 hard, 2 2-5 cars, 81. CI.
No. 2 hard, 1 car. 21. 48, (smutty.)
No. 4 hard, 1 car, f 1.49 (heavy) ; 1 car,
11.48 (Bmutty.)
No. 6 hard, 1 car, $1.60 (14 par cent
heat damaged); 1 car, 21.48 (musty): 1
car, (1.46 (musty beat damaged); 1 ear,
Sample hard, 2-6 car, 11.48 (live wesvel).
No. 6 spring hard, 1 car. 81.86 (normal).
Sample spring, 2 cars. 21.27.
No. -8- mixed, 8-6 car, 81.86.
No. 4 mixed, 2-2 car, 11.41; 2-8 oar,
'U- CORN '
No. 1 white, cars. 66e.
No. 2 white. 2 cars, 66c: t 2-8 cars,
B6c; 2 cars. 65c (shippers weight)
No. 2 white, 1 car, 64 c.
No. 6 white, 1 car, 61c (musty.)
No. 1 yellow, 6 cars, 65c.
No. 2 yellow, 12 cars, 66c.
No. 3 yello. 3 cars, 64c.
No. 1 mixed, 1 3-6 cars, 63 o (near
white); 1 car, 63c.
No. 2 mixed, 1 car, 64c (near white);
1 car. 63c; 3 cars, 52c. .
No. 3 mixed, 1 car, 62c (near white);
6 cars, 61c.
Sample mixed, 1 car, 43o (heating.)
OATS.
No. 2 white, 1 car. 87c.
No. 2 white, 1 car, 37 c; 4 cars, 37e.
No. 4 white. 1 2-6 cars. 37c.
Sample white, 1 car, 86c.
OMAHA RECEIPTS AND SHIPMENTS.
Today Wk. Ago Tr. Ago.
Wheat n "J JJJ
Corn " 65 184
Sat. i .
Rye
Barley 0 3 I
Shipments
Wheat
Corn . ,
Oats . ,
Rye . . .
Barley
Today Wk. Ago Tr. Ago
... 31 69 99
...33 46 49
... 7 7 27
...0 2 6
... 0 1
r-wicirsn CAR LOT RECEIPTS.
Week Tear
Today Ago Ago
Wheat 664 SO 37
Corn M44 366 261
Oats 603 102 149
KANSAS CITY CAR LOT RECEIPTS.
, k Week Tear
Today Ago Ago
Wheat 253 196 71
Corn 47 26 31
Oats 6 1
ST. LOUIS CAR LOT RECEIPTS.
Week Tear
Today Ago Ago
Wheat 78 91 . 44
Corn 126 87 6
Oats 74 32 28
NORTHWESTERN CAR LOT RECEIPTS
UF WHEAT.
Week
Today Ago
Minneapolis 208 218
Duluth 116 183
Winnipeg 104 196
PRIMARY RECEIPTS AND SHIPMENTS.
Receipts Today 1 ear-Ago
Wheat 1,179,000
Corn 2,276,000
Oats 991,000
Shipments-
Wheat 799.000
Corn 830,000
Oats 217,000
EXPORT CLEARANCES.
Today Week Ag
Wheat 3.666.000 210,000
Corn 17.000 4,000
Tear
Ago
171
80
97
632,000
823,000
709,000
691,000
811,000
618,000
The following quotations furnished by
tha Omaha Trust company;
Appx.
Price Tld.
American T. ft T. Co. 6s, 1922 97 .05
American T. ft T. Co. 6a, 1924 95 7.68
Anaconda 7s. 1929 93 8.10
Armour 7s, 1930 94 7.80
Belgian Govt. 8s. 1941 98 8.05
Belgian Govt. 7s, 1946.... 99 7.60
Bethlehem Steel 7s. 1923 ... 97 8.35
British 6s, 1922 ,... 97 7.80
British 5s, 1929 90 7.00
British 6s, 1937 85 7.09
C. C. C. ft St. L. 6s. 1929... 86 8.30
Denmark 8s, 1946 100 8.00
French Govt. 8s. 1946 99 8.08
B. F. Goodrich fs, 1926 .... 91 9.70
Japanese Govt. 1st 4s. 1926 96 8.98
Japanese Govt. 4s, 1131..... 69 8.60
Norway 8s, 1940 100 7.93
Nor'w'tern Bell Tel 7s. 1941 98 7.15
N. Y. Central 7s, 1930 99 7.08
Penn. R. R. Co. 7s, 1930... 101 6.82
Sou'w'tern Bell Tel 7s, 1926 96 8.02
Swift ft Co. 7s, 1926 94 (.42
Swiss Govt. 8s. 1940 103 7.70
U. S. Rubber 7s. 1930 99 7.70
West'gh'se glee 7s. 1931.... (9 7.08
New Tork Metals.
New York, June 1. Copper Steady;
electrolytic, spot and nearby, 13013c;
futures, 12013c.
Tin Easier; spot and nearby, (1.360
31.60c; futures, 81.26 31.60c.
Iron Nominal; unchanged.
Lead Steady; spot, 6.00c.
Zinc Easy; East St. Louis, spot, 4.75
Q4.80C.
Antimony Spot, 6.26c.
Kansas
Kansas City Hay.
City, June 1. Hay Steady.
Buster Keaton and
Natalie Married
Are
Celebrated Film Folks
"Wedded by Justice
Of Peace.
New York, June 1. Natalie Tal
madge, youngest of the trinity of
screen stars which includes Norma
and Constantine and the last to be
wedded, was married Tuesday after
noon to Buster Keaton, well known
screen comedian, at the summer
home at Bayside, L. I., of the bride's ;
sister, Norma, vho in private life is .
Mrs. Joseph M. Schenck.
The wedding was a quiet one, be
ing performed by the local justice
of the peace. Those present were
Mrs. Talmadge, the bride's mother;
Norma and Constance, Mr. Schenck
and Lou Anger, Mr. Keaton's man
ager. Both bride and bridegroom
wore informal attire.
The wedding was followed last
evening by a quiet supper at the
Schenck home. Later in the week
the couple will leave (or California
and will live in Hollywood.
Mrs. Keaton will retire from film
work. Keaton, who gave his name
as Joseph Frank when he obtained
the marriage license in Manhattan
last week, will immediately resume
his studio work, which was inter
rupted by an accident in the taking
of a picture.
n BNOiaicTCMiiNil
nniiinn riininn
YOU C WttCOMl IN
VEUINCTOtlItJM
W I 'ARNAM AT iB
'ARNAM AT ieT
OMAHA
CAPACITY 300
GUESTS
RESTFUL KOOMS
Wan Cached Bath
f 1.50 to $3.00
Witn Prints Bath
$2.50 to $3.00
EuiflMi tirtfmast
Saferfliftarfh
P. J. RAMEY
Maa
FtREPBOOFED WTB AUTOMATIC
SPRINKIJ7R4.
uyijyyirvvvwvv
CHICAGO CLOSING PRICES.
By Updike GTaln Co., DO. 2627, June 1.
Art I Open. I High. I Low. Close. I Tea
Wht I I
July 1.21 1.37M 1.29 '4 1.27 1.28
1.30 1.S714 1.2814
Rye
July 1.22 1.2IH 1.22 1.28 1.22V4
Sept 1.0S 1.13 1.08 1.13 1.06 H
Corn
July .66 .67 .65H .66 .644
.66
Sept .66 .68 .66 .68 .66
.66 68 ,66?i
Oats
July .41 . .42 .41 .42 .40
42
Sept, .42 .44 .42 .43 .42
.42 42
Pork
July 16.80 17.60 16.80 17.60 16.76
Lard 1
July 9.60 1.60 (.42 2.47 9.46
Sept. 9.80 9. 88 9.76 9:80
Ribs
July I 9.67 9.60 9.87 9.60 9.66
Minneapolis Grain.
Minneapolis. Minn.. Juna 1 flnnr
juarKet uncnanged.
uran 21S.00.
Wheat Recelnts 208 cam rnnqn,,
wun kv cars a year as-o. jva. 1 north
ern, 31.491.69; July. 91.82.
uorn wo. A yellow,
Oats No. 3 white, 8738c.
Barley 4864c.
Bye No. 2, 31.42 1.44.
Flax No. 1, 61.921.94.
St. Louis Grain.
St. Louis. June 1. Wheat July. 31.34.
Corn-July, 464e; December, 67c
Pits July, 2c; December, 43 o.
' ' Kansas City Grain.
Kansas CMtv. Jim. 1 wtBt i.i.
81.30l.SO." .-.,.
worn iuiy, 60 e; September, 63 He.
Hew Tork Moneys.
New Tork. June 1. Prima mercantlla
paper, 63 67c.
Kxcnange strong. '
Sterling Demand. It II u . a.ku.
13.81. "
f rancs Demand, s.46c; cables, 8.48o.
Belgian Franca Demand, a 4Sn? ihi.i
8.47c.
Guilders Demand, 84.66o; cables. 34.66c.
Lire Demand, 6.34c; cables, 6.86c.
Marks Demand, I.680; cables, 1.63e.
Greece Demand, 6.76c,
Sweden Demand, 23.06a.
Norway Demand, 16.!6c.
Argentine Demand, 32.27c
Brasillan Demand, 13.26c.
Montreal, 10 par cent discount.
Time Loans Firm: 60 dava. so Amn
and six months. t per cent
Call Money Firm, high, 7- per cent;
low, 7 per cent; ruling rate, 7 per cent;
oloslng bid, 7 per cant offered at 7 per
cent, last year, 7 per cent.
Chicago Produce.
Chicago, Juna 1. Butter Market low
er: creamery extras. 18c: firsts. 12ASa!
seconds, 17022c; standards. 28c.
Eggs Market lower: reoelnts. 40.28s
cases: firsts, 21021e; ordinary flrsta,
1819c; at mark, cases included, 20S
21c: standards. 22c.
Chicago. June l.Poultrv Alive mr1rt
higher; fowls. 24c; broilers, 40 460.
New Tork Dried Fruits.
New Tork. June L EviDnrm Innlu
Nominal.
Prunea and Apricots Quiet.
Poaches Steady.
Raisins Quiet.
Kansas City Produce.
Kansas Cltv. June 1 r..., .
firsts, 20c: seconds. 16c.
nutter Unchanged.
Poultry Hens. Uc Mchrr. lie hrnii '
Investors WiHVant
This Bool
IT covers the birth and the'develop-'
ment of the Electric. Light, and
Power Industry.'
It shows the constant rapid increase in
the number of .consumers served,
It graphically 'portrays the growing
output and the steadily increasing net
revenues of the industry.;
It pictures present day uses and points
out the broad field still to be occupied.
It shows a ratio of earnings from pres
ent business which justifies' the pur
chase of .well selected public utility issues
by the most conservative investor..
In writing kindly ask for booklet OB-394
Our June Offering Stieet, juil off ttie)
rcss, will also ie tent upon request.
The National City Company
National City Bank Building, New York -
Omaha First National Bank Building
Telephone Douglas S3 16
Set
me
000
in the careful handling of all orders
for grain and provisions for future
delivery in all the important markets.
Wa Oparata Offices at-
Omaha, Nebraska Lincoln, Nebraska
Hastings, Nebraska
Holdredge, Nebraska Genera, Nebraska
Cbicago, Illinois
Sioux City, Iowa , Dee Moines, Iowa
Hamburg, low
Milwaukee, Wisconsin Kansas City, Missouri
Private wire connections to
11 offices except Kansas City.
We Solicit Your Consignment
of All Kinds of Grain to
OMAHA, CHICAGO, MILWAUKEE,
KANSAS CITY AND SIOUX CITY
Every Car Receives Careful Personal Attention
Bf Updike Grain Company
"The Reliable Consignment House
arrive, 1.93 .
ars and roosters, unchanged.