Image provided by: University of Nebraska-Lincoln Libraries, Lincoln, NE
About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (June 24, 1921)
THE BEE: OMAHA. FRIDAY. JUNE 24. 1921 15 Industry Notes Improvement in June Business wuwj 1.111113 kJUllCUIIJJ Because of Failure to Build Up Surplus During The War. By HOLLAND. An executive of one of the largest of the American industries has con fessed to feeling, until within a few days, somewhat blut, wondering how long a time would pass before his corporation will be doing a business equal to that which it enjoyed pre vious to war days. This morning he said that the situation seemed to be clearing tip. Since the first of June the orders which have come for the products of this industry have already been greater in amount than in any month since October of last year. The commodities manufactured by this corporation are chiefly utilized in manufacturing industries of all kinds. Therefore, if an increase of orders for it s products has come since June first it is evident that many if not all manufacturing in dustries are also encouraged by signs of improvement. For the moment the situation is somewhat acute due largely to the passing of dividends by various cor porations. The corporation referred to in the preceding paragraph did not postpone or pass its customary dividend although it was deemed the fnanagement was wise in" war days when the business that came to it was rnormous and the profits large, be cause a considerable part of the prof its were put into surplus in the form of cash cr readily negotiable securi ties. Firms Have Xo Surplus. , Almost all of the dividends tvhleh hsve tweti passed sines March represent the failure In time of prosperity properly to build up aurplua. Of course this does not apply to tha railroads. They have had no capacity to build up a aurplua. In many cases the aurplua wm put Into raw material. The great leRther rorporatlon's aurplua In excess of 130.000,000 put Into hides and aklna and that, too, at a time when the prices for thle raw ma terial were very hlRh. Then there name suddenly a very great deflation in the prices demanded for hides and skins. The result waa that this corporation found Its aurplua lnveated In raw material and thla raw material waa so cheap that It waa Impossible to borrow any money upon it. Dividends must be paid In cash al though sometimes payments are made in stock or in script. without any precedent. Heretofore, busi ness has become stagnant, bankruptcies in 1 . ... -A ., A 1 or dreaded panlo overshadowed the busl 1108a world. This had always been due to ovor-productlon and over-expansion as well to the Insufficiency of our national banking ss'atem before the federal reserve system was established. The panics of 1S73-1SS4, the world crisis of 1892-1893; and the panic of 1907 were all due to over-production, over-expansion and to the insufficiency at least in the United States of our old national banking system. Fanics Prevented. Not one of these factors Is to be found In the present situation. Instead of over production there is underproduction. Our federal reserve banking system has dem onstrated Its strength snd Its capacity to prevent panic. Some refer to the cotton situation, raying that really there has been no over-porduction of cotton. A ear or two before the European war be gan our exports ot cotton were a little over 10.000,000 bales. It would be more than that now if Europe was in condition to tC"nr. cotton. Some . reDOrts have Mfuhed '9W York which Indicate that L Products of the steel Industry are .jell -creator than the demand for them. At a supV-Jjclal reading of this report It might bo assumed that there la over-production in that industry. How can there be over-production when the American I steel Industry ta working at not more than 80 per cent of its capacity, while the world stands in need of American steel and Iron commodities. Aside from the labor Issue, meaning by that the necessity of a proportionate de flation in wages compared with the defla tion in commodities, it is undoubtedly tha fact that under-production, due largely to world conditions In part, explains tha busi ness depression. We have good roads, but there should be more of them. The rail roads and their equipment stand in need of great ex.iendltures for Improvement. If the building operation of the United States were equal to the need, this would furnish some relief. We are under-producing not because we lack the facilities for production. Better Than It Seems. The business situation Is better--than It seems to be. That is the new stand taken by A. C. Bedford, chairman of the board of the Standard OH company of New Jer sey, He was reported some weeks ago as having said that he was confident that the peak of the depression has passed. He has not changed that view. In his re cent address to the representatives of the refinery conferences of the Standard Oil company, he said that although conditions do look somewhat bad, yet when they are placed in comparison with conditions abroad and when it. is borne in mind that the resources of the United States are stupendous, both natural and human, then the pessimism which some people in ths United States now foel cannot bo regarded s justified. It was said to the Standard Oil repre sentatives at that recent meeting that we have seen prices for jgoods pushed to ths point at which the market on them has closed and as a result the men who made the goods were forced to walk the streets, not because the goods were not needed, but because the public would not buy at the high prices. Stacks of leather were piling up and shoemakers were out of work, although half the world was go ing almost barefoot. This however, is a condition which is passing away. It is curing Itself, and within a few months wages, prices and the buying power of the public will be stabilised. New York Coffee. New Tork, June 23." The chief trading feature in the market for coffee futures day was the continued liquidation or. iian of switching into later months, hut It had a depressing Influence and after opening at a decline of 3 to 4 points, active months sold 23 to 28 points below last night's close, with September touching 6.15c. The sharp rally of yesterday evi dently left the market In an easier tech nical position and some of yesterday's buyers were probably disappointed by the somewhat irregular showing of Brazil, Firm offers, however, were reported gen erally higher and the market recovered part of its loss, with September closing at (.2(0 bid. The general list closed at a net decline of 8 to 1 points. July, 5.90c ; September, .2e; October, .40c; December, 6.fiSc: January, 6.S0c; March, 7.03O4 May. T.lSc. Spot coffee dull; Rio 7s, t Vic; Santos 4s. to 99He. Jtew Torsi Money. New Tork, June 23. Prime Mercantile Paper ttOf per cent. Exchange Easy. Sterling Demand, I3.T4 U: cables, 93 74. Franca Demand. 1.00c; cables, 8.03c. Belgian Franca Demand, I.97c; cables. Guilders Demand, SJ.SOc! cables, 33.00c. Lire Demand. 4.77o: cables. 4.7e. Marks Demand. 1.39c; cables, 1.40c Oreece Demand, 8.00c. , . Sweden Demand. 22.35c . - Norway Demand. 14.30c. Argentine Demand, 20.75c. Braslllan Demand, 11.75c. Montreal 12 per cent discount. Time Loans Steady; 60 days, 90 days and ( months, ( per cent. Call Money Easy; high, t per cent; low, ( per cent; ruling rate, 6 per cent; closing bid, 44 per cent; offered at 6 per cent; last loan. S per cent. Slonx City Lira Stock. Sioux City, la.. June 39. Cattle Re ceipts, 2,000 head; market weak, !5o lower; fed steers and yearlings, $5.50 t.itt fat eows and heifers, 34.OO07.7S; canners, 31.603.76; veals, 3S.OO01O.OO; calves, 34.000. 60; feeding cows and heif ers. $3.00t4.00; stockers, 34.30Q6.50. Hogs Receipts. 10,000 head; market steady. 15c tower; light, 3.15f?$.S5; mixed. 37.9099.20; heavy, 37.60O7.85; bulk of sales. 37.7t98.25. Sheep and Lambs Receipt, 306 head; market steady. Tendon Honey. London, June IS. Bar Silver 33 Hd per Ounce. Money 4 per cent. Discount Rates Short bills, tM per aent; three months' hills, 114 per cent. Market, Financial Live Stock Omaha. June 23, Cattle. Hogs. Sheep. (1.301 11,010 11,383 6,851 14,210 11,481 7,341 17,533 8.214 6,100 11,000 8,600 25.693 63.753 39.691 26.934 46,72 28,162 2li,88' 43,413 26,292 23,845 " 30,444 25,233 23.640 45,116 20,48$ Receipts were: Official Monday Official Tuesday Official Wednesday., Kxttmate Thursduy., Four days this wk. , Same days last wk. , Hume days 2 wk. ago. Same days 3 wk. ago. game days Year aico. Receipts snd disposition of live stock at the I'nlon stock yards, Omaha, Neb., for 24 hours, ending at I p. m., June 23, 19"1 RECEIPTS CARS. Horses and a l 30 i i 64 . 63 30 . 6 .. 1 44 43 .. . 32 18 .. . 17 7 1. 39 .. . 16 2 1. 1 .. . 1 4 .. . 8 1 .. . Mo. 1'ac Ry. ( & N. W. Ry..' east... l & N. W. Ry.. west . .., Ii. ec v(, nco, (.?., K. I. P., east ... C, R. I. & P., west . . . Illinois Central Ky ... C, O. W. Ity ,s Total receipt 244 171 32 1 DISPOSITION HEAD. Armour & Co 1,181 2.840 1,493 Cudnhy Packing Co... 1,428 2,601 878 Dold Packing Co 178 1,025 .... Morris Packing Co.... 777 2,337 916 Swift & Co iit 2,214 1,415 J. W. Murphy 1,328 .... Swaitz & Co 5 .... Lincoln Packing Co. .. 19 Wilson Packing Co. ... 19 ..... .... M. Qlussburg 16 Hlggins Packing Co '18 .... Hoffman Bros ....... 10 Mayorowlch & Vail ... 8 Midwest Packing Co. . 16 .... P. O'Dea 14 Omaha Packing Co. ,. 23 1 So. Omaha Pack. Co... 31 John Harvey 252 T. .1. jngnram 15 F. O. Kellogg 19 Joel Lundgren 13 .... V. P. Lewis 10 J. B. Root Co 158 Sullivan Bros 9 Werthetmer & Degen . 187 Other buyers f v: 6;3 Ogden Tks. Co. , 113 .... Total . .6,308 - 12.600 5,355 Cattle V. 'lie receipts continue liberal, some O.luu head arriving Thursday, and the four days' supply being substantially the same as a week ago. Trade,today was very slow, more on account of the liberal offerings than on account of any lack of demand, and prices for both beef steers and cows range from steady to 1 0 4(1 1 5 a lower than , Wednesday. Best yearlings and lightweights sold around $8.258.50, with best of the heavy cattle around $7.90 08.15. The decline In prices yesterday and today puts the market hack to abo'Jt last week's closing levels. Tnere wei no change In the atocker and feeder supply or trade. Quotations on cattle:' Choice to prime beeves, JS.25fit8.50; good to choice beeves. 37.764H8.16: lair to good Peeves, xi.inn 7.75; common to fu.lr beeves, $7.00'fi!7.35; choice to prime yearlings, $8.258.66; good to choice yearlings, $7.858.16; fair to good yearlings, 17.35 7.76; common to fair yearlings, $6.75 7.25; choice to prime hoifers, J7.258.00; good to choice heif ers, $ 5.50 Hi- 7.00 ; choice to prime cows, $6 004r6.60; good to choice cows, $5.40 6.00; fair to good cows, $4.505.25; com mon to fair cows. $1.50(8)4.00: good to choice feeders, $7.007-60; fair to good feeders. S0.60P7.00; common to fair feed ers, $6.006.50; good to -choice stoekers, 37.005p7.50; fair to good stocKers, iii.uutw 7.00: common to fair stockers. $5.00(9 6 25; stock heifers, $3. 50 5. 00; stock cows, $3.00(5)3.75: stock calves, $5.00(8)7.50; veal Ives, $6.t0f .7s; Duns, stags, etc., o.ou 6.00. BEEF STEERS. No. Av. Pr. No, Av. Pr. 41 1167 $7 75 82. .....1215 $7 85 16 1214 8 00 10 1141 I IV 21 1147 8 35 STEERS AND HEIFEH5. 24 812 8 40 15...... 874 7 25 9 796 7 35 10 662 .7 40 14 923 7 55 17 865 7 60 12 805 7 80 27 8S8 8 10 YEAKLI-NtiS. 30 "8 7 00 13 747 7 Jo 17 996 7 40 1.1 8f ov 23 770 7 75 25 -, 796 7 90 19 f40 7 95 15 834 8 30 14 840 8 60 I 944 3 25 .4 1120 6 00 CALVES. 3 136 60 .... 1 140 10 00 Hogs Receipts of hogs amouated to II, 000 head and the market opened at lower prices but Improved, closing steady or very nearly so. Declines of 10 16c were noted early and trade as a whole was quoted weak to about 16c lower. A good clearance was made. Best light hogs topped at $8.30 and bulk of the receipts selling from $7.708.15. HOG!?. No. Av. Sh. Pr. No. Av. Sh. Pr. 70. .348 .. $7 65 47. .315 .. $7 70 61. .260 140 7 75 66. ,250 .. 7 80 57. .307 150 7 85 69. .844 70 7 90 54.. 287 70 7 95 63.. 278 80 8 00 65. .256 120 8 3(1 72. .244 110 8 15 6. .206 .. 8 20 75..2aH 8(1 5 20 48. .202 .. 8 30 72. .206 .. 8 J6 87.. 205 40 8 40 Sheep Arrivals of sheep and Iambs were estimated at 8,500 head and most of the offerings were springers from west ern ran it e districts. Trade was dull and draggy with a lower tendency to lamb prices. Packers held out for declines of 25 60c on this class of stock and the market finally settled to this basis. Best Idaho lambs had to sell around $11.75 and a few good natives were reported at $10.75 4f 11.00. Fat sheep were generally steady with good fed shorn ewes bringing $4.00 4.26. Quotations on sheep: Spring lambs, $9.50011.75; shorn yearlings, $7.009.00; shorn ewes, $3.00(p4.25; cull ewes, $1.00 2.00. SPRING LAMBS. No. Av. Pr. No. Av. Pr. 526 Ore. .64 $11 65 636 Ida. .78 $12 00 299 Ida. .63 11 75 . 150 Ida. .61 11 8$ 1042 Ida. 71 12 25 405 Ida.. 67 11 50 . CULL LAMBS. 110 Ore. .63 6 75 83 Ida. .63 7 25 120 Ida.. 62 7 00 FEEDER LAMBS. 600 Ida.. 54 7 00 Chicago Live Stock. Chicago, June. 23. Cattle Receipts, 4,000 head; choice steers and yearlings steady; others 15 to 25c lower: common grassers very dull and sharply lower; top yearlings, $9.15; weight 10.24 pounds; bulk, $7.25$8.50; fat cows and heifers slow, steady; others weak to lower; bulk fnt she-stock, $4.506.25; bulls weak to 25c lower; bulk bolognas, $4.004.25; butcher grades largely, $5.00 6.00; veal calves steady to 25c higher; bulk, $9.509.76; stockers and feeders steady. Hogs Receipts, 21,000 head; market ac tive, opening 15 to 25o lower than yester day's average; packing grades off most; closing 10c higher than early; hold-over moderate; mostly packing grades; top, $8.65, one load; practical, $8.60: bulk, $8.25 6J8.65; pigs 1015c lower; bulk desirable, $8.25S.36. Sheep and Lambs Receipts, 14,000 head; lambs mostly 25a lower than yesterday's Ijw time; top native, $12.00; bulk good and choice, tll.SO011.75; light Oregons asserted. $11.50; heavy ewes weak at $3.00 8.50; best light native ewes. 34.50; culled sheep and lambs extremely dull. Kansas City Live Stock. Kansas City, June 23. (U. S. Bureau ot Markets.) Cattle Receipts, 2.700 head; beef steers, average steady; heavies 10Si 16c lower; top load yearlings. $8.60; part load, $3.66; bulk steers, $7.76(3)7.90; many common lots, $5.606.25; calves, 2o50c higher; best vealers, $9.009.25; stockers and feeders slow, weak to lower; common to fairly good stockers, mostly $4.50D6.50; few sales below $4.00: all other classes steady; medium to good cows, $4.2505.50; canners. 12.006 2.25. Hogs Receipts, 2,800 head; market un evenly 10Sj)25c lower, ' mostly 1020o lower than yesterday's average; best 200 to 210-pound hogs to packers and ship pers, $8.40; 260 to 275-pound averages, $8.1568.35; bulk of sales, $8.1008.35; packer sows and pigs, barely steady; bulk stocker pigs around $8.00; closing weak. Sheep and Lambs Receipts, 2,500 head; sheep steady; best Texas' wethers, $4.25; a few native ewes, $4.00; lambs steady to 2 5o lower; most sales better grade native lambs, $10.50011.00. . St Louis Live Stock. East St. Louis, III., June 23. Cattle Receipt 2,200 head; market, steers steady; $8.21 paid for cattle averaging 1,100 pounds; bulk, $(.8603.00; light yearlings and heifers at $8.60; cows shade lower: bulk, $4.605.50; bulls slow, steady; veal calves. $9 001)9.50. Hogs Receipts 8,500 head; market clos ing firm. 6c to 10c lower; 'top, $8.65; small lot of lights, $8.70; bulk, $8,506 $.60; tew heavies, 38.60; clearance good. Sheep Receipts 4,500 head; closing weak, best lambs 60a lower; top, 311.60; bulk, $11.0011.25; culls, $6.00; ewes, top, $4.00; bulk, $3.003.60; choppers and backs, $2.00; canners, 76c; clearance poor. St. Joseph Live Stock, St. Joseph. Mo., Hogs Receipts. 3,003 head; 15ijj25c lower; top, $9.40; bulk of sales. $8.00j!8.25. Cattle Rec'.pts. 1.200 head; market steady: steers, $6. 25 (i 8.50; cows and heif ers, $4.0018. 40; calves, $5.50(98.50. Sheep Receipts, 3,500 head; market steady to 26o lower: lambs, llO.OO011.2f; ewes, $$.00 04.00. Financial By ALEXANDER DANA NOYES Chicago Trihiine-Omaha Bee leased Wire. New York, June 2.3. In today's markets the outstanding movements were the declines in stocks, the ad vance in wheat and the tendency to weakness in foreign exchange. The day 8 news with a bearing on the money and credt situation, however, was distinctly favorable: it included a second reduction of the Bank of England rate and remarkab'y strong weekly values by the federal reserve bank. Last week's reduction of the New York bank's reserve ratio from 64 per cent to 60H per cent re sulted wholly from the great enlarge ment of member banks' reserve cred its, with a view to financing the week's federal tax payments. This week the reserve deposits are re duced to their previous level and, since gold holdings have increased heavily, the bank's reserve ratio rises nearly to 69 per cent; very much the highest percentage of any week since 1917. Selling of both descriptions was resumed in considerable quantity on the stock ex change with resultant declines In soveral Industrial stocks running from 1 to 6 points at the day's low level. From the lowest prices, there was Irregular recovery In the later hours, but it did not affect the entire list. Railway shares were again relatively firm: as a rule their net de clines wera Insignificant. Weakness of the Industrial shares was ascribed by Wall Street to the paselng of a couple of company dividends, including that on the Virginia-Carolina Chemical preferred stock, end to the belief that the steel corpora tion will reduce Its prices further. The expectation will undoubtedly be fulfilled. The entire steel consuming com munity is taking the reduction for granted nnd making its own plans occordlngly. It IS practically certain that when prices are reduced again, wages sIro will be lowered by the corporation. But this also has been Inevitable, the present wage scale being Httll based on the living costs of a year ago and the prices then prevalent for the company'a products. New York Quotations Range of prices of tha leading stocks furnished by Logan A Bryan: RAILS. Wed. High Low Close Close A., T. & S. F 78 77& 77U 78 Baltimore & Ohio. 34 33 34 34 Canadian Pacific .104 102 104 K 104 Vj N. Y. Central ... 6S 65i 65 66 Ches. & Ohio..... 46 48 46Vi 74 Krle R. R 11T4 11 11 11 Gt. Northern, pfd. 6454 63 63 64 Chi. Ot. Western.. 7 6 6 7U Illinois Central . . . 8S 88 88 8814 Mo., Kan. & Tex.. 2Vs 2 214 2 Kan. City South.. S3U 22 22 2SH Missouri Pacific .. 17i 16 17 17i N. Y N. H. & H. 15 1518 15 16 North. Pac. R. It. 66 65 66 66H Chi. A N. W .. 6O14 60 60 63 Penn. R. R 32 32 32 32 Reading Co 63 62 62 63 C, R. I. & P... 27 26 26 27 South. Pacific Co. 70 68 69 (,9 Southern Railway. 18 17 17 18 Chl Mil. & St. P. 24 23 23 23 Union Pacific 113 112i 113 113 Wabash 7 7 7 7 STEEL. Am. Car Fdry. . .117 116 117 117 Allis-Chalm. Mfg. 30 28 28 30 Am. Loco. Co. ... 75 74 75 76 Vtd. Alloy Steel... 21 21 21 21 Baldwin Loco 65 63 63 64 Both. Steel 43 41 42 43 Colo. P. & 1 26 26 26 27 Crucible Steel 55 61 62 54 ' i Am. Steel Fdrs 25 24' 24 25 Lackawanna 34 32 32 34 Mldvalo S. & O 23 22U 22 22 Pressed Steel Car. 66 64. 64 60 Rep. I. & S 43 41 42 44 Ry. Steel Spring... 76 74 -74 7fi Slosa-Shef. S. & 1. 83 -33 t . 33 - U. 8. Steel 7li 7014 ' 70 71 COPPERS. Anaconda Cop 36 34 85 35 Am. Bmlt. & Rfg.. 34 32 33 38 Butte & Sup 10 10 10 .... Chile Copper 10 10 10 10 Chino Cop 21 20 20 22 Calumet A Arizona 45 45 45 .... Insp. Cons. Cop 31 31 31 81 Kennecott Cop 18 17 17 18 Miami Copper 19 19 19 20 Nev. Cons. Cop.... 10 10 10 10 Ray Cons. Cop.... 12 12 12 12 Utah Copper 47 4 46 47. INDUSTRIALS. Am. Beet Sugar... 27 25 26 28 A., O. . W. I. S. S. 22 19 21 21 Am. Int. Corp 33 S9 30 33 Am. Sum Tob 48 45 46 4 Am. Cotton OH.... 16 15 16 16 Am. Tel. & Tel. ...102 102 102 102 Am. A. C. P 36 36 36 37 Bosch Magneto.... 34 . 32 33 34 Continental Can...i46 45 46 .... American Can 24 23 24 25 Chandler Motor 62 49 60 52 Central Leather... 33 32 32 32 Cuba Cane Sugar. 8 8 8 .8 Cal. Packing 65 65 65 Cal. Pet 38 86 87 38 Corn Prod. Rfg 62 61 -. 62 62 Nat. E. & S 43 41 42 45 Fiak Rubber 11 11 11 12 Ooneral Electric. . .125 121 122 125 Gt. Nor. Ore 26 ' 26 25 26. General Motors 10 9 10 Goodrich Co 29 27 27 31 Int Harvester 83 82 83 88 H. B. Car 61 60 60 62 U. 8. Ind. Alcohol. 60 48 4 60 Int. Nickel 13 13 13 13 Int. Paper 51 48 48 60 Island OH 8 2 S 8 Ajax Rubber 22 21 21 23 Kelly-Sprlngfleld .37 35 36 36 Keystone T. & R.. 9 9 9 10 Int. M. M 10 10 10 10 Maxwell Motor Co. 3 3 3 Mex. Petroleum.. 112 108 110 109 Middle States Oil. 10 10 10 10 Pure Oil Co 25 -25 25 26 Willys-Overland ..7 6 6 7 Pacific Oil 34 32 33 83 Pan-Am. Pet. ... 48 46 46 46 Plerce-Arrow Mo.. 17 15 16 15 Royal Dutch go. 66 62 63 66 Am. Sugar Co... ,70 68 70 69 Sinclair Oil 20 19 19 20 Sears-Roebuck Co. 65 63 65 66 Stromberg Carb... 28 27 27 29 Studebaker Corp.. 72 69 73 71 Tob. Products Co. 62 50 61 61 Trans-Con. Oil 8 7 8 8 Texas Co 32 31 32 31 U. S. Food Corp. 16 ' 15 16 16 White Motor Co. 30 29 29 30 Wilson Co.. Inc.... 33 33 33 .... Western Union.... 88 88 88 .... West'hse El. Co... 43 41 41 43 Am. Woolen Co... 67 64 65 67 Total sales. 878.100 shares. Money Close, 6 per cent; Wednesday's close, 6 per cent. Marks Close, .0141c; Wednesday's close, .0141.e. Sterling Close, $3.75; Wednesday's close, $3.74. Chicago Storks. The following quotations are furnished by Logan & Bryan: Armour & Co. pfd Armour Leather Co. common . Armour Leather Co. pfd Commonwealth Edison Co Cudahy Packing Co. common... Continental Motors Hartman Corp. common Libby, McNeil & Libby Montgomery Ward Co National Leather Reo Motor Car Co Swift & Co. Swift International Union Carbide & Carbon Co... . 85 . 12 . 81 .108 . 46 . 6 . 75 , " . 6 . 17 . 90 . 0 . 40 New Sfork Produce. New Tork, June 23. Butter Steadier; receipts, 21,445. Creamery higher than ex. tras, 34 36c; creamery extras, 33 34c; creamery firsts, 31 (J) 33c. Eggs Irregular, firsts, 2529c; qtbers unchanged. Cheese Steady; unchanged. Live and Dressed Poultry Steady and unchanged. Chicago Produce. Chicago, June 23. Butter Lower; creamery extras, 83c; standards, 31 c; firsts, 28!31c; seconds. 24$ 27c. Eggs Higher; receipts, 10,867 cases; firsts, 24024c; standards, 2325c; or dinary firsts, 20&21c; at mark, cases in cluded. 2223c. Poultry Alive, higher; fowls, $7c; broilers, 359430. Chicago Potatoes. Chicago, June 23. Potatoes Weak; re ceipts, 44 cars; northern white, 60c cwt.; Virginia. $3.603.75 bbl.; North Carolina, $3.0063.36 bbl. London Metals. London, June 23. Standard Copper t69 16s. Electrolytic 74. Tin f 165 12s (d. Lead 22 5s. Zinc 126 10s. Unseed OH. Duluth, June 33. Unsaid en track and arrive, $1.86. and Industrial News of the Day Chicago Grain By CHARLES D. MICHAELS. Chicago Tribune-Omaha lie I.eused Wire. Chicago, June 2.?. Wheat finish ed strong and at prices for the day 1 1-4 to 2 l-4c higher. There was good buying toward the last on covering by pit shorts. There was further undoing of spreads and buy ing of July and selling September caused the spread to widen lc. Corn finished 5-8 to 7-8c lower and oats l-4 5-8c off. Rye ad vanced 3-4(fi)lc and barley closed unchanged to l-4c off. Pork closed unchanged, lard 5 to 7 l-2c higher and ribs 5c up. Local cash gales were 54,000 bushels of wheat, includ ing 50,000 bushels to exporters, 135 -000 bushels of corn, 889,000 bushels of oats and 1,500 bushels of barky. New York wired that Germany is reported to have taken 2,000,000 bushels of wheat the last three days through Dutch and English houses. Hard wheat premiums were l(a)2c higher, cash corn basic was I -4c better and oats basic was unchanged, St. Ixiuls Iluys Wheat, Wheal started out the same as yester day. There was no great interest dis played in the market after opening trades become a matter of reeord. There was much heard of the crop destruction and St. Louis Interests wore particularly ac tive in destroying the crop of their state. Some of them accompanied their reports with buying orders end this strengthened their advices. The strength at the start was dlslpated shortly after but the mar ket rallied again and therefore freauent changes were made, with locals doing most of the trading. Houses with eastern connections bought July and September. Some of the crop experts are still in South Dakota and It Is natural to expect bad reports so long as they continue In that territory. Local Bhlppers reported the sale of 60.000 bushels of new wheat to ex porters over night. The weight of cash corn was the cause for the weakness in corn futures. Carriers continued to pick up the cash corn and hedge It In the pit. Locals also pressed the Belling while profit taking by shorts was the only demand. The sale ofj6T 000 bushels of corn to go to Btore in dicates the Intention of carriers to de liver the cash corn snd heavy amounts are expected to be handed longs on the first of the next month. Domestio ship ping demand Is slow and export bids were unattractive. Local receipts were es timated at 310 cara Crop reports are excellent. Low price levels governed transactions In oats, the weakness in corn having a depressing effect. Crop conditions ap peared to be discounted as reports tell IAs of deterioration and the necessity of rains to check future damage had little Influence on the trade. Numerous longs sold out their lines and there was fairly good selling credited to prominent com mission concerns. Rve was firm, with cosh No. 2 selling at $1.24. Receipts, 4 cars. ' Pit Notes. Corn conditions are the worst in 18 years in southern Ohio, according to ad vices received by Sincere & Co., from But ler and Preble counties In thot state. No rain and hundreds of acres were not plant ed on account of lack of moisture. Corn is extremely small in growth. Liverpool prices were weaker, noth for corn, and wheat. Argentine offerings were more pressing. Demand abroad IB said to be quiet. Wheat was reported maturing prema i,,iv n irti of Iowa, with oats spotted. Onawa, la., said prospects were for about 80 per cent or normal wneai itujj. jir. rr. nf riea hpa lis incrfiaslnE flS TS' suit of abnormally high temperatures for tbrs time of year. Rains were pretty general In Oklahoma, ir.n.a. H MiMonuH. hut. except at a fow scattered points, the precipitation was not heavy enough to interrupt: narvesuoB. m some parts of Oklahoma and also in Kan sas crop of wheat i3 dead ripe and further delays may ca,use damage. Break In Buenos Aires. Predictions for rain In northern Argen tina caused a break of 23o in prices for wheat futures at Buenos Aires, and Rosario was 3c lower. The export de mand for corn waa reported slow at Buonos Aires. . , According to Bartlett Fraaler, the bulk of reports on oats is that the crop has been more or less hurt by unfavorable weather at an Important stage of growth. Minneapolis reports covering a meeting of the fourth annual convention of the trl-state country grain shippers' associa tion indicate that farmers In the north wet will market their wheat freely from the time it Is harvested. The farmers having paid the penalty for holding back their wheat the Inst season are now dis posed to market along normal lines. The feeling now beltig that taking one year ,.ni, .nnihnr the nrodueer gets as good an average price by marketing at once as by holding, after figuring the shrinkage and cost of carrying, Minneapolis Grain, Minneapolis, June 23. Flour Un changed. 1 Bran $15.00. . Wheat Receipts, 344 cars, compared with 175 cars a year ago: cash No. 1 northern, $1.43 1.53 ; July, $1.33; September, $1.30. ,P, Corn No. 3 yellow, 6051e. Oats No. 3 white, 3434?sc. Barley 4561c. Rye No. 2. $1.151.18. Flax No. 1, $1.8201.34. t St. Louis Grain. St. Louis. June 23. Wheat July, $1,26; September, $1.21. Corn July, 69c; September, 62c bid. Oats July, 37c; September. 40c asked. New York Cotton. New Tork, June 23 The cotton market was rather Irregular following Wednes day's advance. The Liverpool cables were lower, while early weather reports suggested that the i..nnnrinp After having caused rains but not crop damage of Im portance in somneasc lexan. , tui tion In tho -Bank of England discount rate was an encouraging feature, however, and after opening at a decline of 3 to an advance of 3 points the market held steady on continued covering. Liverpool cables reporting that Lan cashire Bpinnlng operatives have ratified the wage agreement were followed by a slight bulge here duritig the middle of the morning, with October selling at 12c, or 9 points net higher. New York General. tti. t . qq Vi nur- f n rkpf quiet; spring clears, i.io, boh. win ter straights. $7.007.35. Wheat Spot, market firm; No. 2 red, $1.64; No. 2 hard, $1.58: No. 1 Manitoba, $1.82; No. 2 mixed durum, $1.52, e. 1. f. tract New Tork first half July shipment Corn Spot, market barely steady: No. 2 yellow and No. 2 white, 83c: No. 2 mixed, 82 c, c. I. f. New Tork 10 days shipment. ... Oats Spot, market easy; No. 1 white, 6Hops Market quiet; state 1910. 1517c. Lard Market firm; middleweBt, $10.50 10.60. Other articles unchanged. Turpentine and Rosin. Savannah, Ga., June 23. Turpentino Firm; 51c; sales, 253 bbls. ; receipts, 429 bbls.; shipments, 13 bbls.; stocks, 8,501 bbla. Rosin Firm; receipts, 1,219 casks; ship ments, ; stock, 74,983 caskB; sales, 1,462 CQuote: B, $3.60fi3.67; D, $3.603.7; E, $3.6618)3.72; F, $3.70; G, $3.76; IH, $3.803.82; I. $3.85; K, $4.00(94.12; M, $4.50(f&4.67 ; N, $5.00(5.22: WU, $5.755.80; WW, $6.476.50: steady. New York Metal. New Tork, June 23. Copper Steady; electrolytic, spot and nearby, 12&13c; third quarter, 13!13c. Tin Steadier; spot and nearby, 29.25c; futures, 29c. Iron Nominally unchanged. Lead Easier; spot. 4.40c. Zinc Quiet; East St. Louis spot, 4.400 4.60e. Antimony Spot, 5.12e. Dry Goods. New Tork, June 23. Cotton goodB to day softened in the gray goods division, because of a weakness Is) cotton markets. Yarns were easier and retail wash goods active. Wool goods lines for spring will be ready about July 1, but openings may be postponed. Canton raw silk waa stronger, with Japan and Shanghai grades unchanged. New York Sugar. New Tork, June 23. There was no change In the local raw sugar market to day, but business was a little more ac tive. - The sales Included 49.000 bsgs of Porto Riros and 8,400 bags of Phllllpplne Islands, In store, prompt and June ship ment, all on the basis of 4 cents for cen trifugal. Dried Fruit. New Tork, June 23. Apples Evapor ated, market nominal. Prunes and Apricots Steady. Peaches Quiet, Rslns Steady, " " Omaha Grain Omaha, June 2.1. There was a moderate run of wheat today while arrivals of other grains were light. Wheat prices ranged 2c higher to lc lower. No. 1 hard was unchanged to a cent up, No. 2 hard, generally lc to 2c up; No. 3 hard, unchanged to a cent off, generally unchanged, and No. 4 hard, a cent up to a cent off. Corn was un changed to tfe lower. Yellow and mixed were 'jc off while white was unchanged with bulkhead sales yes terday. Oats were nominally a cent lower. Rye was about unchanged. Barley was nominal. WHEAT. 1 car, $1.3$ (dark); 1 car. $1.31; 1 cars, Vno! 3 hard. 1 car, $1.36 (dark); 4 cars, il 39; 7 3-6 cars, $1.28; 3 cars, $1.26; 1 car, $1.26 (smutty): 1 car, $1.24 (smutty.) No. 3 hard, 1 car, $1.27 ( heavy smut ty); 1 car. $1.24: 1 car, $1.2$; 1 car, $1.22 (very smutty); 1 car, $121 (smutty) No. 4 bard. 1 car, $1.!8 (heavy); i cars, $1.22; 1 car, $1.20. No. 6 hard, 1 car, $1.19; I cars, $1.18; 1 car, $1.17 (smutty.) Sample hard. 1 car, $1.23 (heavy smutty.) No. 2 mixed. 2-3 car, $1.17 (smutty.) No. 3 mixed, 1 car, $1.09 (88 per cent durum; 13 per cent spring.) CORN. No- 3 white, 2 cars, 660. No. 3 white, 1 ear, 65c. No. 6 white, 1 cars, (lc (heating dam nped); 1 car. 60c (musty.) Sample white, 3-6 car, 46c (heating.) No. 1 yellow, 3 cars, 62 He No. t yellow, t cars, 62c. No. 3 yellow, 2-5 car, 610. No. 6 yellow, 2 cars, 46c. No. 1 mixed, 1 car, 61c 2-5 car, 50c. No. 6' mixed, 3-5 car, 45c. OATS. No. 3 white, 1 car, 33 c. RYE. No. 3, l-3car, $1.07. No. 3, 1 car. $1.07. Sample, 1-6 car, $1.03. BARLEY. No. 4, 1 car, 51c; t cars, 50c. CHICAGO CLOSING PRICES. By Updike Grain Co., DO. 2627. June 23. Art.. I Open. High. I Low. Close. I Yes. Wht. I I July 1.30 1.31 1,28 1.80 1.28 1.30 1.81 1.28 Sept. 1.23 1.24 1.21 1.23 1.22 1.24 1.24 1.22 Rye July 1.22 1.22 1.21 1.22 1.21 Sept. 1.09 1.09 1.08 1,09 1.03 1.08 Corn 1 - July .63 .63 .62 .33 .63 .63 63 Sept. .64 .64 .63 .63 .64 .64 04 Dec. .62 .63 .61 .62 .62 .62 62 Oats Uuly .31 .39 .38 .38 .39 .88 Sept. .40 .40 .39 .40 .40 .40 40 .40 Dec. .42 .42 .42 ,48 .42 42 Pork July 17.76 17.75 17.75 17.73 17.75 Sept, 17.90 17.90 17.90 17.90 17.80 Lard July 9.95 10.02 0.93 10.02 .7 Sept. 10.42' 110.42 10.20 10.37 10.32 Ribs I July 10.26 110.27 10.25 10.27 10.23 Sept. 110.42 110.60 10.55 10.60 10.65 Knnsns City Oraln. Kansas City, June 23. Wheat July, $1.21; September, $1.17. Corn July, 66 c; September, 6994c. 5th Big Annual CENT Sale MEN'S STRAW AliD PA DAM A HATS at PHILIPS BIG Friday at By purchasing one of our Straw or Panama Hats at the regular low price you will be given another for (One Cent). A Timely and Saving Opportunity You will find an unlimited and choice stock of Hats to select from. In all styles, shapes, sizes and English Dinner ware AT PHILIP'S BIG STORE I"' r-T-,--- 1 twsrmis Buy Now and Save On Sale Friday and Saturday Only This will be the greatest sale of Imported English Chinaware ever held in our store. We planned for many months to be able to serve our faithful patrons at the end of our 5th Birthday Anni versary with merchandise that would be remembered for years to come. v 12,000 pieces of Fine English China on sale for you to select from, consisting of such that you can make up your Dinner or Breakfast Set for a very small sum. 20 Any Article in This Big Lot on Sale EACH An Opportunity That Come 24th and O Sts. Trading Stsmps, imummmjmamm Omaha Produce Fruit and vegetable quotations furnished by (jillnsky Fruit company: Bitnsnas Per pound. LOc. Grape fruit 40, $6.00; $4, $7.00; 64-70-$0, $7.60. Oranges, 8unkist--126. $7.00; 160, $0.75: 174-100-216, $6.50; $50, 36.25; 388. $6.00; 324, $5.75. Lemons 800 Golden Bowls. $10.00: 360 Oolden Bowls, $10.00; 300 Stiver Cords, $9.60: 360, 39.60. Apples 113-125, $3.50; 138-1B0-10S, $3.25: 175-300. $2.75. California Fruits Box Peaches, $2.23: Crate Apricots, $2.60: Crate Large Red Plums. $3.00; Crate Clynien Plums. $2.50; Lug Large Black Cherries, $4.75; Lug Medium Black Cherries, $4.00; Lug Red Cherries. $4.00. Cantaloupes .Standards, $4.25; Ponys, $3.60; flats, $1.76. Watermelons Crated Per Pound, 4c. ' Barries Hood River Pints, $4.60; Lo ganberries Pints, $4.60; Blackberries, Pints. $4.60; half boxes of grape fruit, lemons and oranges, 16o extra. Potatoes Old Stock, ' per cwt., $1.50; New Triumphs, pr cwt., $4.00; New Ar kansas, per cwt., $3.26; Hamper Sweets, $2.50. Cabbage California crates, 6c; Califor nia, small lota, 6c. Onions Crate yellow, $1.75; crate crys tsl wsx, $2.26. Peanuts 10-lb. ran salted, $1.50; palls, 30-lb., par lb., 12c; cartons, 60-lb., per lb. llo; barrels 176-lb. per lb. 11c; No. 1 raw 9o: No. 1 rosst, llc; jumbo raw, 14c; Jumbo ronst, 17c. Vegetables Basket H. O. cucumbers, I dos., $2.60: hamper wax beans, market; hamper green beans, market; tomatoes, 4 basket Texas, $1.75; turnips, per dos., market; beets, per doz., market; carrots, per dos., market; eggplant, per doz., market; head lettuce, per doz., market. Repack Baskets Per crate, 360 baskets, $3.50. New Dates Dromedary, 38 pkgs., $0.75. Checkers and Cracker Jack 100 to case, prize, $7.00; 100 to case, no prise, $8.76; 60 to case, prize, $3.60; 60 to case, no prize, $3.40. New York Carb Stocks. The following quotations are furnished by Logan & Bryan: Allied Oil 4 0 S Boston Montana 44 46 Boston Wyoming 11-16( i Cresson Gold 0 Cosden Oil ..5 Consolidated Copper 1 S 1 Elk Basin 6 Federal Oil lf 1 Olenrock Oil 1 1 Island OH 3 Merrlt Oil 7 7 Midwest Refining Co 125. iff 156 Silver King of Arizona 10 lis 20 Sapulpa OH 3 3 Slmms Petroleum 6P Tonopah Divide 1 9 1-16 U. S. Steamship "-16 V. S. Retail Candy 6 6 Foreign Exchange Rates, . Following are today's rates of exchange as, compared with the par valuation. Fur nished by the Peters National bank. Par Valuation Today Austria 30 .0021 Belgium 195 .0803 Canada 1 00 .8800 Czecho Slovakia .0140 Denmark 27 .1710 England 4.86 3.75 France 183 .0805 Germany 238 .0142 Greece 106 .0620 Italy 195 .0490 .Tugo Slavla .0072 Norway 27 .1430 Poland Ifc. .0009 Sweden 27 .2245 Switzerland 195 .1697 Liberty Bond Prices. New Tork, June 23. Liberty bond prices at noon: 3s. 87.48; first 4s, 87.42 bid; second 4s, 86.66 bid; first 4s, 87.48; sec ond 4s, 86.76; third 4s, 91.38; fourth 4s, 86.84; Victory 3s, 38.43; Victory 4s. 98.40. Liberty bonds closed: 3s, 87.46; first 4s, 87.10 bid; second 4s. 86.60; first 4s, 87.48; second 4s, 86.72; third 4s, 91.28; fourth 4s, 86.90; Victory 3s, 98.40; Victory 4s, 98.40. Birthday Sale of STORE 9 A. M. different weaves of Straws. Cents Values You Cannot Afford to Pass Up But One la a Lifetime w - . South Omaha Qm With Each Farcfca Thsy South Side Former Butcher Editor Is Held Negro Bound Over on Charges of Keeping Money He Collected. John T. McDonald, negro, 2910 Franklin street, was bound over to the grand jury in $1,500 bail yester day by Judge Wappich in South Side police court on charges of em bezzlement. McDonald is former associate edi tor of the Butcher Workman Advo cate, official local organ of the Amal gamated Meat Cutters and Butcher Workmen of North America, pub lished on the South Side. McDonald is accused of collecting $784.07 due for advertising in the Advocate and diverting this money to his own use. Witnesses who appeared against him in police court included T. J. Hurlcss, 4801 South Twenty-seventh street, president of District No. 5 of the union; J. W. Burns, 4829 South Twenty-fourth street, district organizer; J. V. Faitik, auditor for the Dold Packing company, and B. A. Finerty, district secretary, S306 South Thirty-third street, who signed the original complaint. McDonald furnished bond and was released. Friends Testify Pop Stand Man's Alcohol for Medicine When John Armoskus appeared in South Side police court yesterday to answer a charge of illegal posses sion of a pint of alleged alcoholic bitters in his pop stand at 5524 South Thirty-sixth street his wife and friends appeared to testily he kept it merelv for medicinal purposes. The judge reserved his decision in the case until tomorrow. No License on Truck TVtppii'vps Arrested Barnev Bart- low, Fiftieth and U streets, for driv ing a motor truck without a license or wheel tax plate. His case in South Side police court was set for today. South Side Brevities Words cannot express our sinters thanks to our many friends for their kindness and sympathy and beautiful floral offerlnrs at tha time of our iato bereavement, especially Mr. and Mrs. J. W. Gardner. Mr. and Mrs. b. uuuvana and Mr. and Mrs. Joseph Marecek. Mr. Joseph Bodomka. Mr. and Mrs. Frank Frederick. Mr. and Mrs. Joseph Marecek. Mr. and Mrs; Steve Marecek. The Updike Grain Company Operating Urge, up-to-date Terminal Elevator in the Omaha and Milwaukee markets, are ia a position to handle your ship ment in the best possible manner i. e., cleaning, transferring, Storing, etc. MEMBERS Chicago Board of Trade Milwaukee Chamber of Com merce Minneapolis Chamber of Commerce. OFFICES OMAHA, NEB. LINCOLN, NEB. HASTINGS, NEB. CHICAGO, ILL. SIOUX CITY, I A. KANSAS CITY, MO. All of these offices, except Kansas City, are connected with each other by private wire. It will pay you to get in touch with one of our offices when wanting to BUY oT SELL any kind of grain. We Solicit Your CONSIGNMENTS OF ALL KINDS OF GRAIN to Omaha, Chicago, Milwaukee, Kansas City and Sioux City Every Car Receives Careful Personal Attention. The Updike Gr ain Company The Reliable Consignment House its: Compound Interest Compounds Wealth If you start at twenty-five to make monthly payments of $10 under the Omaha Trust Company'a Modern Investment Plan you will have at sixty A total fund of over $14,000 A monthly income of $70.00 Larger monthly payments make larger totals. OmahaTrust Company S6k Oouht NttioncJ Bank BuiMinf NOTHING SUCCEEDS LIKE SUCCESS AND BEE WANT ADS. Get Yours Started Today Two College Heads Honored by Harvard Cambridge, Mass., June 23. Two university heads, James Rowland Angell, new president of Yale, and President Lemuel Herbert Murlin of Boston university were among the 11 persons upon whom Harvard con ferred honorary degrees today. They were given the degree of Doctor of Laws. Among other honorary degrees were: Doctor of Science, George E'lcry Hale, director of the Mt. Wilson observatory at Pasadena, Cal.; Dr. Herbert Charles Moffit, professor of medicine in the Univer sity of California. Master of Arts: Julius H. Barnes of Duluth, Minn., and New York, chairman of the United States Grain corporation. Harvard degrees were awarded to women today for the first time since the college was founded 285 years ago. The young women were from the graduate school of education and were among more than 1,100 stu dents graduated from the various university departments. Three, Poles Killed, 21 Hurt In Anli-German Rioting Warsaw, June 23. Three Poles were killed and 21 wounded during -anti-German demonstrations at Bromberg, a town northeast of Posen, yesterday. Seven policemen were injured during the disorder. The trouble arose out of feeling on the part of the Poles that their countrymen who have remained at work in German factories were being ill-treated by Germans. Mayor Ma ciaszek, who was accused of pro Gcrmanism, was dragged from his office and roughly handled by Polish laborers until he was rescued by the police. " THE OMAHA BEE'S South Side Office U located in Philip's Department Store 24th and O Streets Evidence of our policy to give the best service possible to our readers. . It is equipped to receive your subscriptions, want ads adver tising, iews items, and to give you information. THE OMHA BEE Most News Most Features St. Louis Merchant Ex change Kansas City Board of Trade, Sioux City Board of Trade Omaha Grain Exchange AT HOLDREGE, NEB. GENEVA, NEB. DES MOINES, IA. MILWAUKEE, WIS. HAMBURG, IA. . - -ay Tifrt Ijr-lfajtilflMBsea l