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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (July 12, 1921)
THE BEE: OMAHA, TUESDAY, JULY 12, 1921. Y i : i J i I 4 0 l Building Up of Bank Resources Feature of Year "Amount in Some Cases Ex ceeds $200,000,000; Two New York Institutions Have Nearly Billion. "By HOLLAND. Although one of the banking in stitutions in New York has appar ently written off approximately $5,000,000, yet that action will not attract the attention which was oc casioned by the writing off of $1,000,- W by the Chicago bank of which Lyman J. Gage, afterward secretary of treasury, was president. When the news of President Gage's action reached New York an hour or two after the announcement was made in Chicago, it became the topic in banking circles. A. B. Hep burn, at that time president of the Chase National, sooke of the writ ing off of $1,000,000 by the Chicago bank as without any precedent. The opinion commonly held was, that it was much the better part for this bank to get rid in this way of bad debts and various items which were known to be worthless. In stead of impairing the strength of this bank the action served to in crease, its influence and the confi dence which it had secured. Resources Unimpaired. The New York banking Institution which wrote off approximately 15.000,000 Wa able to do that without Impairing to any extent Its resources, for these are) err large. The presumption Is that this 15,000,000 represented losses entailed In certain Russian operations and also mls- wituu wiiutii csinv 10 some inaustries Which lha hunk trl.rf n ,IA th( Lta New York and pre- uiiimiiy, wnn a lew exceptions, all others In the United States appear to have made money. They have done this not withstanding business depression. Their earnings go on night and day, seven days in the week. No doubt a large part of the profits which have come within the past few years to the banks of New Tork have been gained through the assistance these banks have given In the form of cretins ana also to their participation In the floating of many loans, the aggregate Of which Is high In the millions. Interesting Feature. But perhaps the most Interesting fea ture associated with the reports which the hanks of New York made of their condition as It was on July 1 Is the dis closure of the rapid building up of ra aources in excess of 1100,000,000, in some oases In excess of $300,000,000 and In two cases not far from f 1,000,000,000. Banks which a few years ago were un able to report resources In excess of 1100,000.000 now publish statements which show that their resources are In excess of $200,000,000. One of these banks a few years ago was of merely local Im portance. Its clients were chiefly mer chants and manufacturers, engaged In the textile Industry. Today Its resources are reported at 1270.000,000 and much' the greater part of these resources have been accumulated since the European 'war be gan. They also represent the modern policy of some of the New York banks which have bought other banking Insti tutions. Of course the resources of these ether Institutions have aided in building vp the total resources of this Institution. But $270,000,000 Is an enormous Jump from $30,000,000 or $40,000,000 resources, which this bank reported some 20 years ago. 9300,000,000 Resource. In one day four New York banks re- ?orted resources In excess of $200,000,000. n oone case the resources were reported at $270,000,000. In another. $217,000,000. One of the trust i companies reported $210,000,000 and another $242,000,000. These two trust companies were able to make reports of ' this kind because they brought Into common ownership other banking Institutions. . Occasionally comment has been made based upon the fact that so many of the banks of New York which a few years ago had resources of less than $100,000,000 have gained so greatly that they are numbered In the group of banks possess ing more than $200,000,000, but not as much as $300,000,000. It Is probable that these figures reflect gains which will be maintained, but not hereafter as rapidly Increased. They Are Making Money. Prom one point of view this very large Increase in the resources oi new aw banks and the considerable Increase In the resources of almost all the banks of the United States reflect the assistance which the federal reserve system has been able to give. All the reports tell, some of them In figures high In the millions, of relations with the federal reserve system. When It is remembered that in the 12 months which ended on July 1, the banks of New York, In co-operation with banks elsewhere In the country, floated bonds and other securities aggregating many hundred millions and exacted high prices on service of this kind, it is the more easy to understand why American banks even in the period of depression have on the whole made large gains. There are some minor incidents which, taken alone, would seem to suggest that banking syndi cates which have underwritten large propositions are sometimes compelled to carry some part of the undertaking. There seems to be a mystery associated with the recent underwriting of the French loan' of the face value of $100, 000,000. The underwriting syndicate has been able to market all but about $10, 000,000 of this loan. The proposition was an unsually tempting one. And yet it has so far fallen short by presumably $10,000,000. . - , When the Anglo-French loan of $500. 000,000 was underwritten by an American banking syndicate under the leadership of J P. Morgan some doubt was voloed re specting the ability of the syndicate to secure full subscription on these Anglo French Joint notes. J. P. Morgan, with his back almost to the wall, carried on a magnificent ut niggle In order to secure the full subscription. It was th first or many very large loans and It pointed tne way by which the American banks were able to gain large profits since 1S15. and the banks of New York, greatly to In crease their resources. Chicago Live Stock. Chicago. July 11. Cattle Receipts. 18 000; beef steers and she stock, 25 to $5o higher; top yearlings, $9.10; top na tive steers. $8.90; bulk beef Bteers, $7.00 S.50; bulk fat cows and heifers, $4.76 ft 6 75; canners and cutters, largely $2.25 S 75; bulls. 25o higher; bulk bolognas. U 7565.25; butcher bulls, largely $5,500 6 50; veal calves, steady; bulk, $9.75 10 25; stockers, strong; feeders, dull. Hogs Receipts. 40.000; opened, IS to J5o higher; better grades active. Closing firm; others. 10 to 16c lower than early; holdover very liberal, mostly of mixed and packing grades; big packers buying sparingly; top, $10.10; bulk, better grade. $9 70010.10; bulk packing sows, $8.60 $.00; pigs, 6075e higher; bulk desirable pigs, $9.759.90. Sheep and Lambs Receipts, 18,000; mostly steady; some In-between native lambs, 25c lower; top natives, $11.00 to city butcher, $10.15 to packers; culls, mostly $6.00; western lambs, fll.00 911.t0; top, fll.75; fat native ewes. $3.00 C 6.00. Kansas City Live Stock. Kansas City, July 11. (D. S. Bureau of Markets.) Cattle Receipts, 11.000 head; market for beef steers, mostly 1592(0 higher, top $8.15; yearlings, 2540o high er; best, $9.0099.10; many others, $8,259 S.75; canners, steady; bulk around $1.60; calves, strong to 25c higher; best v eat ers, $S.t09$.7t; good kinds, $8.008.15; good $00 to S50-lb. calves. $7.0097.15; ether classes mostly $60 higher; good choice cows, 16.260. 00; medium cows, n.254.IO: cotters, t3.009S.t0; good 1,000 i.Ove-r. helibrs, tS.009t.t0; light ltlnds, 17.009 7.60; early sales of stockers, f4.609t.00. Hogs Receipts, 7,000 head; market low, 366150 higher; close active, 040c higher; best lights and mediums to pack ers and shippers, $9.75; 260 and 2t0-lb. weights, $7.50; bulk of sales, $9.5099.76; packing sows, $8.26 91.90; stock pigs, scares. 25960O higher, few at $9.40. Sheep Receipts, 7,000 head; market for killing classes slow, generally steady; top Dative lambs, $10.00. . Omaha Ha? Market. Prairie Bay Receipts somewhat heavier with considerable movement of new crop hay. Demand dreggy. Alfalfa Receipts, light; demand light; prices lower. Straw No receipts; nominal demand. Upland Prairie Hay No. L $10,60 9 11.60; No. z. $8.8099.10; No. I, $7,009 t.oo. Midland Prairie Hay No. 1, $10,009 11.00; No. 2. $7.6099.00; No. t. $6,609 7.60. Lowland Prairie Hay No. 1, $7,60 9 S.50; No. 2. J6.6067.60. Alfalfa Choice. $17.00918.00; No. 1, tl6.0091.tO: standard, $12.00914.00; No. S, $8.00911.00; No. 8. 87.00C8.00. Straw Oat, fl.009t.tti wheat, f T.OO 9 ' 100. THE GUMPS NH0W SXCK HOKE- HE'S CRAZV ABOUT HCfc ev a in : v T i l Live Stock Omaha, July 11, Receipts were: . Cattle Hogs Sheep Monday Estimate 6,200 8,600 11,600 Same day last week 4,841 11,674 18.204 Same day a weeks ago 4.686 9.173 12,951 Same days $ weeks ago 6,301 11,010 11.389 Same day year ago. .-.6.71J 9,667 14,174 Receinta and disposition of live stock at the Union stock yards, Omaha, Neb., for 24 hours, ending at a p. m.. July 11, 1921 RECEIPTS CARLOT. Cat. Hogs She'p H.-M. i n tut a at v Tv 11 c' 11 1 j., jn. x au F Ay, ai a ... ! Iv Pan Bv . . 1 ... I ft;nFL .? Union Pacific R. R It 11 C. & N. W. Ry., east 1 1 .. C. & N ,W. Ry.. west 66 tO . . $ C., St. P., M. & O. Ry. 37 12 C. B. & Q. Ry.. west ft 21 1 .. C, R. I. & P.. east .. 4 C, R. I. A P., west t S . . .. Illinois Central Ry. .. 1 4 C, O. W. Ry. , , 1 .. .. Total receipts ...211 124 48 J DISPOSITION HEAD. Cattle Hogs Sheep Armour St Co 676 1432 8112 Cudahy Packing Co, 841 839 2311 406 1065 269 63S lilt 1844 Dold Packing Co. ... Morris Packing Co. ., Swift Co J. W. Murphy Swartt & Co. Lincoln Packing Co. .. Wilson Packing Co. ., M. Olassburg ., Hlggins Packing Co. , Hoffman Bros. Mayerowlch & Vail ... Midwest Packing Co. , P. O'Dea Omaha Packing Co. .. S64 1468 .... 1636 618 110 ... 167 .... .... ... 7 ... 24 .... i... ,.. f ,.. & ,.. 16 ... 7 ,.. 16 ,.. 10 .... .... ... 20 ... 19 .... .... ... 616 .... .... ... f .. 45 ... 4 .. 1 ... tl .... .... .. 100 !.. t .., .. 17 .. 504 .... 991 145 .... John Roth A Sons .... So. Omaha Packing Co, E. Q. Christie & Son . John Harvey F. f. Kellogg Joel Lundgren F. P. Lewis Mo.-Kan. C. & C. Co. L. McAdama J. B. Root A Co Rosenstock Bros Sullivan Bros W. B. Van Sent A Co. Other buyers ' Ogden Co. Total , .$47 9217 12501 Cattle The week opens out with just fair run of cattle, about ,200 head on sale. Advices from other markets were encouraging and the local steer trade ruled fairly active and 10 25o higher than last weeks' close, best steers selling up to 88.3598.50. She stock was scarce and sold strong to If anything a little higher. What few western cattle were re ceived 1 were all of stocker and feeder weights and this branch of the trade was alow at .i:ady prices, - Quotations on cattle: Choice to prime beeves, $8.0098.(0; good to choice beeves. $7.6098.00; fair to good beeves, $7.00 7.50; common to fair beeves, $6.2597.00; choice to prime yearlings, $8.108.t0; good to choice yearlings, $7.5098.00; fair to good yearlings, $6.7597.60; common to fair yearlings, $5.766.75; choice to prime heifers, $6.7597.26; good to choice heif ers, $5.006.75; choice to prime cows. $5.7596.15; good to choice cows, li.uutp 5.75; fair to good cows, $4. 2695.00; com mon to fair cows. $1.5094.00; good to choice feeders, $6.0096.75; fair to good feeders, $6.2598.00; common to fair feed ers, $4.6096.26; good to choice stockers, $5.7696.50; fair to good stockers, $5,009 6.75; common to fair stockers, $4.00t.00; stock heifers, $3.5096.00; stock sows, $2. 5091.76: stock calves, $4.0097.00; veal calves, $4.6099.26; bulls, stags, etc., $2.76 95.60. BEEF STEERS. No. Av. Pr. No. Av, Pr. T 25 7 60 7 66 7 76 7 86 8 00 8 It f 36 ..1060 90 7 40 7 60 7 70 7 80 7 90 8 05 8 26 27. 19. 11. ..1190 ..1206 ..1065 ..1281 ..1223 ..1350 ..1190 ..1466 15...... 876 29. .....1040 13 953 23.. ..,.1131 39 1174 32 1496 22 1268 28 1330 26... 19... If... 12... 40... S (0 STEERS AND HEIFERS. 31 .... 674 7 00 18 1153 7 76 7 80 t 15 t 85 7 ft 7 75 8 St 8 60 11 1016 27 819 20 803 7 86 34., 857 t 00 11...... 8 26 23 , YEARLINGS. 7 26 21...;., 7 70 14 8 00 17 , 8 40 41 , 5 60 COWS. 4 76 17 , 6 40 13 6 65 15 HEIFERS. 866 813 768 628 731 1072 14.. . 674 . 708 . 869 .. 886 .1071 34.. 61.. 41.. 16.... 41.... 6.... 6.... ..1092 ,.1081 ,. 985 865 1048 858 f 00 6 60 6 10 4 76 7 00 765 993 4 60 t. t 75 33. 690 846 17.. STOCKERS AND FEEDERS. 6...... 108 4 75 . f ; (24 f 00 11 722 6 25 8 971 f 76 11 622 6 60 BULLS. 1......1560 4 10 1 .1(80 4 ft 1 1080 6 00 CALVES. t...... 102 5 60 26 109 7 60 14 120 8 00 11 204 f 05 1 190 9 25 Hoss Receipts of hogs today were es timated at 128 loads or 6,600 head. De mand was broad In all quarters ana trad ing exceptionally active at prices that were strong to 25 9 350 higher than Sat urday. Bulk of sales was 88.7699.50, with a top of ft.60. nuuii, No. Av. 8h. Pr. No. At. Sh. Pr. t 61 63. .194 ... t 70 8 76 56. .288 40 f SO 8 85 64. .267 .. t 00 t 10 40. .253 .. t 15 t 20 68. .268 .. 25 S 80 90. .229 40 t 25 t 40 8S..209 .. t 46 t (0 54. .343 140 64.. 302 66. .310 70 61. .228 40 74. .254 70 63. .239 80. .196 ... 23. .216 Sheep' The week opened oat with a run of around 12,(00 sheep and Iambs. It was a generally stesdy to strong mar ket with but slight change In quotations, one string of feeder yearlings selling at 34.75, a quarter above last week. Quotations on sheep: Spring lambs, western, 89.(0 9 10.86; spring lambs, na tive. $9.00910.00; spring lambs, native culls, $4.5096.00; shorn yearlings, f 5.35 9 7.60; feeder lambs, $6.006.00; feeder yearling wethers, $4.0094.60; shorn ewes, $3.0094.76; cull ewes, $1.0093.60. Sioux City Lire Stock. Sioux City. July 1L Cattle Reeelpts, 1,000 head; market 10c to 16o higher; fed steere and yearlings, $6.0098.60; fat oows and heifers,-$4.0097.26; eannsrs, tl.000 8.00: veals. 86.0098.80; grass cows, 88.00 94.60; calves, 83.6096.50; feeding cows and heifers, $1.6094.76; stockers, $4,009 $.35. Hogs Receipts. 4.000 head; market llo to 2 60 higher; light, $9.209-t; mixed, I8.7t9t.lt: heavy. tS.0099.00; bulk of tales. $8.269 t6. Sheep and Lambs Not quoted. St. Joseph Live Stock. St Joseph, July 11. Cattle Receipts, 1,500 head; market aotlve, H96o high er: steers, ft.1691.7f; cows and hsifers, f4.0093.t0; calvee, f7.OO0t.7O; etockers and feeders, f4.l09(. Hogs Receipts, 7,500 head; market mostly 20936O higher; top, ft.7f; bulk of sales, fl.40 9t.7f. Sheep Receipts, 1,100 head; market for lambs steady to 16o higher; for sheep 119 I60 higher; lambs, flO.OO011.2f; ewes, $3.1094.(0. - Visible Grain Supply. New York, July 11. The visible supply of American and bonded grain show the following changes: Wheat, increased 814,000 bushels. Corn, decreased 2,095,000 bushels. Oats, Increased 1,821,000 bushels. Rye, decreased 126,000 bushels. Barley. Increased 237,001 bush la. Collar Market, Financial and Industrial 'News of -the Day Chicago Grab By CHARLES D. MICHAELS. Chicago Trlbone-Omaha Bee Leased Wire. Chicago, July 11. Despite the fact that almost all of the local profes sional traders were on the bull side of the wheat the close was yic higher to J4c lower. Heat and black rust damage from the northwest and ex porters big buyers of wheat in the southwest led the locals to commit themselves on the long side of the market. The selling was hard to trace but much of it was hedging. Corn finished Yi to jc higher and oats were unchanged to fc higher. Rye was i to higher and barley unchanged. Pork closed unchanged, lard 17't 20c higher and ribs 2 to 10c higher. Cash wheat premiums were 1 to oc lower, corn discounts were l4c to lAc wider and oats YC wider. Local cash sales were 11,000 bushels of wheat, 84,000 bushels of corn, including 50,000 bushels to ex port late Saturday, 164,000 bushels of oats and 1,500 bushels of barley. There were reports of some wheat being worked to exporters from here, but these could not be confirmed. A local broker said he had orders to buy wheat for seaboard account, but local shippers were reluctant to offer. There was some export corn worked out of here via Georgian bay ports. The amount was withheld but it is believed it was 75,000 bushels. At the close there were no bids for corn, whatever, and it looked as though export trade was filled up. Sales of 25,000 bushels.of contract wheat was reported to go to store. Buying at Start. Sentiment appeared to be a little more mixed in wheat trade at the start and up to a half hour after the opening was featured by good buying power. Many longs were filled with courage because of the excessive heat in the northwest with practically no precipitation, a 2o upturn In Minneapolis market at the opening and the drouth news from Great Britain. A good bulge was recorded Deiore selling pressure developed enough breadth to make Itself felt. Free country offerings to arrive were reported and every time any wheat was booked the purchaser im mediately sold the wheat in the pit. There also was some pressure later on the wiping out of cash premiums. At mldsesslon prices had been forced under the previous closing level. Corn followed the trend of wheat. There was good buying early by a broker believed to be acting tor one oi me leading local professional traders. On the bulge pit talent sold inspired by th break in wheat. Hot and dry weather was a factor early. Weekly Indiana re ports saying that the crop would be se riously injured unless rain fell within a few days, was a factor In the market. Tho movement of corn Is falling off, ar. rivals today being estimated at only 265 cars. . Domestic snipping asnuna poor. There was some uemanu iw -port corn via Georgian Bay ports, but during the morning session buyers and sellers could not get together on th question of price. Oats Quiet but Firm. n.t. nuut but firm. Ctod news ......iw raa unfavorable and the ad vance in wheat and corn also had effect. Trade was lmost entirely local in charac ter and lacking In feature. .A "Port from Champaign, 111., stated that tadlcatione pointed to a 50 per cent yield, as com pared with last year's crop and In4l advices were to the effect that a low yield was generally expected. Oats cut ting in that state Is completed In the southern portion and this work Is gen eral In the northern part. Messages from winnin.. told of poor conditions in soutn Alberta, with hoppers and out worm se- rtously menacing yiem m Weather in this country is dry and favorable for harvest work. Rye was nrm, casn "u. over July, or $1.19. Receipts. 7 cars. Fit Notes. nt the British resale prices. making the uritisn resale " 2 hard winter c below Argentine re sale and on No. 1 red l(o below the Argentine. Is taken to Indicate that for the time being Argentine competition is largely out of the wheat market. Offi cial London quotations now are equal to $1.9191.91 on No. 1 Manltobas. $1,629 162 on So. 1 hard winter; $1.66 on No. 1 red; $1.75 on Australian and $1.71 on Argentine. Clement Curtis' summary of weekly re ports of government field agents aays: "Illinois corn condition continues high; tasseling In northern counties. Winter wheat yields lower than expected. Oats suffering from hot weather and Insuf ficient moisture; condition runs low; cut ting In censsal and northern areas. In diana: All crops suffered last week under the intense heat Corn has reached a very critical stage. Unless a general rain occurs within a few days much of It will be seriously damaged. Winter wheat yield very disappointing; quality will not average more than No. 1. Small yields of oat generally predicted." - Deliveries on July contracts today were 70,000 bushels corn and 20,000 bushels oata England Is passing not only through the hottest weather experienced In years, but also through a drouth which has lasted almost two months. Crops are being damaged and the water supply Is down to Its lowest ebb. Bennett's Minneapolis office wired: "Line elevator company has reported from southern North Dakota, aaylng he examined 40 fields. All were damaged by black rust." Another Minneapolis wire said, ''Saturday temperatures broke all records. If these temperatures do not damage crops nothing ever will." Dried Fruit. New York, July 11. Evaporated Apples Nominal. Prlnes Steady; California, 4 015 He; Oregon, (91lttc. Apricots Firm; choice, 22 0 28c; extra choice, 26tte: fancy, 27ttc. Peaches Steady; standard, HHe; choice, ltOHHc; fancy, 16017c. Raisins Qulst; loos muscatels, ISO lie: choice to fancy aeeded, 17012c; seedless, imOlfHc Chicago Produce. Chicago. July 11. Butter1 Higher; creamery extra, 88c; standards, 87c: firsts. 36 0 37c; seconds, itgttc. , Eggs Hlghsr; receipts, 12,604 cases; firsts, 39010c; standards, - not quoted; ordinary firsts. 26017c; at mark, cases Included, 17011a. Poultry Alive, higher; fowls, 28o; broilers. It 01tc T antes City Bay. Kansas City, July 11. Hay Steady to ft lower; choice old timothy, flt.600 lt.lOi ebolc new timothy, f 13.00014.00; choice prairie, tl3.6O0l4.IO; choice al falfa, flt.M01O.OO. Kansas City Grain. Kansas City, July 11. Wheat July, September, 81, us; December, Corn July, 48c; September, 6214o; December, 63 c. . , Bar Silver. New York. July 11. Bar Silver Do mestic' tt; -foreign,- 59 Ha .. . y Mezlraa Collars 46o. ' A. A SMALL WORLD, AFTER ALL OH MVH- HHt- A tlTTLE WIMP- HE )SEt tf HAIL .HIHSEV.F V? MEE - JMON'Y COST WIM TO TWEL- JUST ?UT A 2 STAM? ON H ' an lax .on the mwl Financial By ALEXANDER DANA NOYES. Chicago Tribune-Omaha Bee Leased Wire. New York, July 11. Further weakness in the foreign exchange market was one of the outstanding developments today. Sterling broke to $3.62J4, a loss of 3&c over the week end. German marks-at 1.27 4c were at the lowest point since last November. Exchange on Rome de clined c and a slightly greater loss was registered in exchange on Am sterdam. This unsettlement of the foreign exchanges, which has become accentuated during the last few days, is explained in part by certain fac tors which are known to be enter ing the situation. The dubious quantity is the reparations matter, the plans of the reparations com mission apparently being as little understood in London as in New York. The next German payment on reparations account is not due until the last of August, but exchange would long before that time begin to reflect the development and pos sibility that is what is happening no,w. The figures of the Department of Com merce on our foreign trade for June ahow an Increase In exports as compared with May of about $10,000,000. This is not large, but Is at least a change in the trend, for It is the first increase that has been recorded since December of last year. The f340,ooo,ooo total of June or this year, is, however, only a little more than half of the exports In June, 1920. Imports of flt8,000,000 are flO.000,000 less than in May, but $364,876,000 under the corresponding month of last year. The increase in exports and coincident decline in Imports gives a lavorame trade balance for June of 8162.000.000. the larg est since February, when the excess of exports was f 274,771,930. The stock market was characterized by comparatively dull trading. Pressure was once more In evidence against certain of the Industrials, but others in this group rallied substantially above Saturday's close on covering by speculators for the decline. At the end of the day there was irregularity this being true in the rail group as well as in the Industrials. For the most part the changes in the rails were fractional and the movements were without any special significance. On the whole, the rails showed a greater degree of firmness tnan am me indus trials. mere was a rooaeraie riiy m www, mainly as a result of word from England telling of much improved conditions in th. Rniiah textile industry. A broaden ing demand for both spot cotton and futures developed at ljiverpooi, wun spot sales of some 12,p00 bales were the highest reported in many a uaj. CHICAGO CLOSING PRICES. By Updike Grain Co. DO. 2627. July U. Art. Open. High. Low. Close. Sat Wht July, 1.19 1.18 Sept 1.18 1.18 Dec. 1.21 I 1.20 Rye July 1.17 Sep. 1.06 Corn July .60 .61 Sept .67 .60 Dec .69 .69 Oats I July .36 Sep. .38 Dec. '".40 .40 Pork I July 18.40 Sep. 18.60 Lard I July 11.02 I Sept. 11.30 Ribs I July 10.87 ! Sept. 110.97 1.18 1.18 1.18 1.18 1.21 1.17 1.06 .60 ".ii" '"68 , .68 .35 .88 .37 .39 18.40 18.60 11.00 11.26 New Tork Cotton. Vftw York. Juiv 11. Tho New York cotton market opened active and firm at an advance of 12 to 17 points in sym pathy with strong cables. Good buying by the trade and Wall street wa noted. The chief selling on the rise was by the south and for Japanese account Thsre also was selling by some local operators who were disposed to take profits above the 13o level for October. An increase in outside speculative purchasing absorbed the offerings and prices made further slight gains after the opening. The advance was promoted by reports of unfavorable rains In the southwest and active months sold 20 to 15 points abovs last week's closing. Realizing eased re actions of several points toward mid-day. Trading was quieter In the afternoon, but prices held fairly steady around 18 point net higher. New York General. New York, July 11. Flour Steady; spring patents, 88.60 9.00; spring dears, $7.2607.75; soft winter straights, $6,000 6.75; hard winter straights, $7.2608.00. Wheat Spot easy; No. 2 red, 31.84; No. 1 Manitoba, $1.70 and No. 1 mixed durum, $1.80, -c. I. f. track New York, late July shipment; No. 2 hard, $1.40, c. 1. f. track New York to arrive. ' Corn Spot steady; No. 1 yellow and No. 2 white, 82o, and No. 1 mixed, 82c, c L f. New York, 10 days' shipment Oats fipot steady; No. 1 white, 47c Pork Firm; mess, $24.00024.50; family, $30.00033.00. Lard Firmer; middle-west $11,900 12.00. New York Pugar. New York, July 11. The local market for raw sugar was firm but no further change was recorded In local quotations, which are quoted at 4.87c for centrifu gal. There were additional sales today of 15,000 bags of Porto Rlcos at that level, and an outport refiner paid 4.60c for 28,000 bags, and at the close addi tional lots were offered at 4.60, tut local refiners did not appear Inclined to pay above 4.37c. No additional sales were reported by the committee today, al though late last week they sold 6,000 tons of Cuba centrifugals to Franc at 2.88c t e. b. Cuba. , Minneapolis Grain. Minneapolis, July 11. Flour Un changed. Bran $13.00015.00. Wheat Receipts, 874 cars, compared with 862 cars a year ago; cash No. 1 northern, fl.801.46; July. $1.31; September, $1.23. Corn No. 1 yellow, 47048c. Oats No. I white, $2032c Barley 46959c Rye-nNo. 1, $1.1001.134. Flax No, 1, fl.8401.85c. ' Kansas city Produce. Kansas City, July 11. Eggs Un changed; firsts, 28c; seconds, 21c; se lected cass lots. 34c Butter Creamery, lc higher, 40c; pack ing lc higher. Poultry Unchanged: hens, 21o: broll- V heavy. 17o; light, lioj roosters, fa, 1.20 1.17 1.18 1.19 1.19 1.16 1.18 1.18 1.22 1.19 1.21 1.18 1.16 1.17 ' 1.07 1.04 1.06 .62 .60 .61 "..0 "'.tV' "".59 ".'60 '"(8 '"69 68 .36 .85 .35 .38 .87 .38 "'.40 '".39 '".40 18.40 18.40 18.40 18.60 18.60 18.60 11.17 ' 11.00 11.12 11.62 11.30 11.42 10.90 10.80 10.80 HE YWS AIL fcVGvTt WHH MEM- SET AROUND VATH fccj ROV6H MEM ANt HAVE A 60Ot TIME-SMOKE A PIPE ANt EVEKVTHIN6- BUT JUST LCt HIM .HTA. A WOrKN. VOiCC AND HfcVp VTART TO HVVEfc ANO RUM AN5 MfrE.- ME OtEP- GOT A.LU HIS MONET- SUE YffcOYE HIS YLL New York Quotations Rang of prices of the leading stocks, furnished by Logan 4 Bryan, Peters Trust Dunning:- RAILS. Sat High. Low. Close. Close. A., T. A 8. 7 82H 82 82 82 D. A O ....19 28 38 89 Canadian Paclfls.,110 109 109 110 N. Y. Central 70 69 69 70 Cues. Ohio 64 54 64 64 Erie R. R 13 18 13 18 uc nortnern pia.. es 69 70 Illinois Central 92 92 92 .. M., K. A T 2 2 ' 2 2 k.. u. soutnern... zg 26 is it Missouri Pacific... 20 20 20 20 New Haven 17 17 17 18 Northern Pacific. 73 73 73 73 Chi. & N. W 65 65 65 64 84 34 84 34 69 67 67 68 33 32 22 32 76 75 , 75 75 Pennsylvania .... Reading C. R. L A P.... Southern Pacific. Southern Ry , 20 C. M. A St P.... 27 20 20 20 27 27 27 Union Pacific 120 119 119 120 Wabash t 7 8 t . STEEL. Am. C. A F. , 123 Allls-Chalmers ... SI 81 11 21 Am. Loco ' .... 80 BaldL Loco. Wks. 75 73 76 74 Beth. Steel Corp... 49 48 48 48 Crucible Steel Co.. 66 66 66 (f Am. Steel Found.. 26 26 26 .... Lackaw'a SI. Co.. 40 39 39 39 Mid. Steel A Ord. 28 23 23 .... Press. Stl. Car Co. 71 T 71 71 .... Rep. I. A Stl. Co.. 48 47 48 47 U. S. Steel 74 73 74 74 COPPERS Anaoonda Cop. Mln 88 38 28 28 Am. S. A Rfg. Co. 87 27 27 37 Chile Copper Co... 10 10 10 10 Chlno Copper Co.. 23 23 23 14 Calumet & Arizona 46 46 46 .... InsD. Cons. Cod... 34 33 33 Kennecott Copper.. 19 19 19 20 Miami copper Co.. 21 20 20 11 Ray Cons. Coo. Co. 13 12 13 Utah Copper Co... 50 49 49 60 INDUSTRIALS. Am. Beet S'r Co 26 A., G. A W. I. S. S. 24 21 23 22 Am. Int Corp 34 88 33 24 Am. Sum. Tob. Co. 50 49 60 50 J Am. cotton Oil Co. 17 17 17 17 Am. Tel. A Tel 103 103 103 103 Am. Agr. Chem... 36 36 36 .... Bosch Magneto 24 American Can Co. 26 25 25 26 Chandler Motor ..61 60 60 61 Central Leather ..24 34 34 34 Cuba Cane Sugar . 8 6 7 8 Cat Pet Corp. ... 37 37 87 36 Corn Pro. Rfg. Co.' 66 65 65 65 Nat. Enam-St'mp 44 44 44 .... Flak Rubber Co... 11 11 11 12 General Klectno .127 Gt North. Ore Gen. Motors Co... 11 Goodrich Co 30 Int Harvester ... 73 Haskell ft Brkr... 64 U. S. Ind. Alcohol 61 Int Nickel 14 Int. Paper Co..... (8 - Island Oil 2 AJax Rubber Co... 21 Kelly-Sprlngfleld 37 Keystone Tire-Rub. 12 127 127 128 .... A.. 28 10 11 11 29 29 .... 71 72 73 54 - 64 .... 48 48 62 13 13 .... 62 (2 (3 2 2 1 18 19 38 36 87 12 12 11 3 3 4 9S 98 94 10 11 , 11 26 26 26 7 - 7 .... 13 34 34 46 47 48 19 19 19 64 68 64 47 47 49 64 68 84 19 20 20 62 62 65 32 12 82 78 80 79 62 63 62 7 8 8 33 33 .... 16 16 17 80 80 .... 31 81 22 88 48 44 G8 68 68 Maxwell Motor. s.. 3 Mexican Pet 99 Middle States Oil. 11 Pure Oil Co 26 7 14 49 19 (6 49 89 20 64 32 80 63 8 33 17 Willys-Overland Pacific Oil Pan-Am. P. ft T. Plerce-Arrow .... Royal Dutch .... U. S. Rubber . . . . Am. Sugar Rfg. . Sinclair O. & R. . Sears-Roebuck ... Stromsberg Carb. Studebaker Tob, Products ... Trans-Con. OH... Texas Co U. S. Food Pr. .. U. S. 8., R. ft M.. 80 White Motor 32 West Airbrake West E. ft M.... 44 Am. Woolen 69 Total sales, 482,800 shares. Money Close, 6 per cent Sterling Close, f 3.63 ; Saturday's close, $3.64. Marks Close, ,0128o; Saturday's close, .0132c Liberty Bond Prices. New York, July 11. Liberty bonds at noon: ts, 86.50; first 4s, 87.00 bid; sec ond 4s, 86.84 bid; firsts 4s, 87.20; second 4 s, 86.88; third 4s. 80.86; Fourth 4s, 87.00; Victory 3s 98.34; Victory 4s, 98.34. Liberty bonds closed: 3s, 86.40; first 4s, 87.00 bid; second 4s, 86.80; first 4s, 87.84; second 4s, 86.96; third 4s, 86.96c; third 4s, 90.84; fourth 4s, 87.00; Victory 8s, 98.32; Victory 4s, 98.34. Linseed Oil. Dulutb. July 11. Linseed on track and to arrive, $1.85. Your July 1st Dividends New Horn of Home Builders, Inc. These bonds are secured by new Omaha Business Property. They are Tax-Free in Nebraska. The interest is payable semi annually. Ask for descriptive literature. Owned and Recommended by Home Builders. Incorporated Assets Over $1,500,000 For SaU by' AMERICAN SECURITY COMPANY 18th and Dodge Streets Omaha, Nebraska C. C. Shimer, Sec'y G. At Robrbough, Pres. MAIL ORDERS GIVEN OUR PERSONAL ATTENTION TVfcT WOMAN IS LIKE FtOONcj THE LOCK ON A SANITARIUM OR. mMONS 0VR. JAV INTO A, MOR(aUe- OU'0 BETTER NNRITE THAT UHCLC Of YoUR.1 XNf WAfcN MlfA- IF BHE Vt- GSTS HrA NOVTLU BE on TTe "ice. Track- leave, kt TO NtK O Omaha Grain Omaha, July 11. Wheat receints todav were fairly liberal with 115 cars. Other arrivals were comparatively light, with corn 53 cars, oats 25, rye 2 and no barley. Wheat prices were l3c lower, the bulk about 2c off. Corn was un changed to J4c higher and generally unchanged. Oats prices were 4lc off, generally 4c lower. Rye and barley were nominal. The United States visible supply of wheat, increased 820,000 bushels for the week; corn decreased 2,108, 000 bushels and oats decreased 1,321,- 000 bushels. WHEAT. No. 1 hard: It cars (new), $1.10; f 2-6 cars (new, shippers weights), $1.10. No. 2 hard: 1 car (smutty), $1.11; 1 car (new, choice), $1.10; $ cars (smutty), $1.09; 4 cars, $1.09; 2 cars (smutty), $1.10; 9 cars - (new), $1.08; 1 car (shippers' weights), $1.07; 1 car (smutty-new), $1.07. No. t hard: 1 car (special billing), $1.18; 1 car, $1.11; 1 car (2.8 per cent rye), 1 car, $1.09; 1 car, $1.08; 1 car, $1.08; 5 cars, $1.07; 1 car (burnt). $1.07; 1 car (yellow), $1.08. No. 4 hard; 2 cars, $1.05. No. f hard: 1 car (shippers' weights), $1.02; 1 car (yellow, shippers' weights), $1.02. Sample hard: 1 car (live weevil, ship pers' weights), $1.05; 1 car (new, heavy), $1.04 No. 6 spring: 1 car (dark northern). $1.03; 1 car (dark northern), $1.03. Sample spring: 1 car (dark northern), $1.02; 2-6 car, $1.00; 1 car (dark north ern, 45.5 lbs.), 98c CORN. No. 1 white: 6 cars, 53c. No. 2 white: 3 cars, 63c Nc 6 white: 1 car, 47c; 1 car (shippers' weights), 46 c No. 1 yellow: 2 cars, 49e; 5 1-5 cars, 49c. No. 2 yellow: 2 cars, 49c No. t yellow: 1 car, 48c. No. 6 yellow: 1 car (musty), 41c No. 1 mixed: 1 car (near white, (lc; 1 car (near yellow), 48c Nc 2 mixed: 1 car, 43c; 1 car (near yel low), 48c; 3 8-5 cars, 47c. No. 8 mixed: 2-5 car, 47c. No. S mixed; 1 car, 45c No. t mixed: 1 car (musty), 41s. OATS. No. 1 white: 1 car, 81 c. Nc 3 white: 12 cars, 31c. No. 4 white: 1 car, 30c; S 4-5 cars, 30c No. t nixed: 1 car, t0c Nc 4 mixed: 10c BARLEY. No. 4: 2-6 car, 46c. Sample: 1-5 car, 86c CHICAGO CAR LOT RECEIPTS. Today. Yr. Ago. Wheat 138 10 Corn 142 216 Oats 196 . 23 KANSAS CITY RECEIPTS. Wheat 728 261 Corn .145 (4 Oats 3 8 Wheat 411 98 Corn 67 116 Oats 47 97 NORTHWEST'N RECEIPTS OF WHEAT. Minn 374 352 Duluth 61 88 Total 425 , 440 Winnipeg 209 102 PRIMARY RECEIPTS AND SHIPMENTS Receipts- Today. Yr. Ago. Wheat . .... Corn Oats '. .2,368.000 . 739,000 . 783.000 1,897,000 667,000 1,160,000 409,000 860.000 Shipments- Wheat 1,836,000 Corn 692,000 Oats (05,000 460.000 EXPORT CLEARANCES. 1,660.000 1,017,000 844.000 100.000 Wheat Corn . Oats OMAHA RECEIPTS AND SHIPMENTS. Receipts Today. Year Ago. Wheat J.115 71 Corn 63 ' 50 Oats 35 26 Rye 2 3 Barley .. 2 Shipments- Wheat 46 82 Corn 63 64 Oats i 15 Rye t Barley 2 .. gt Louis Grain. St Louis. July 11. Wheat July. $1.13 bid; September, $1.14 bid. corn July, 65c asked; September. 67c bid. Oats July, 85-Vo asked: September. 36c asked. Each $100 Will Earn $6 if Invested in Home Builder 6 First Mortgage Bonds Sqld at 98, to Yield 8 for the First Year Denominations $100 to $5,000 Maturity 2 Year to 5 Years Drawn for The Bee by Sidney Smith. Copyright, 1021, Chicago Tribune Company -HRON IKE ' Bonds and Notes The following quotation furnished by the Omaha Trust oompany; Approx. Bid. Ask. Yield. Am. Agrl. C. 7s. 1941.. 95 95 7.95 Am. T. A T. Co, 6s, 1922.. 88 98 7.71 Am. T. T. Co. 6s, 1924.. 96 96 7.55 Armour 7s, 1930 95 96 7.60 Belgian Govt 8s. 1941.. 99 99 8.06 Belgian Govt 7s, 1946.. (9 100 7.48 Bethlehem Steel 7s, 1923 97 98 8.10 British (s, 1921 97 97 7.30 British (s, 1(29 88 88 7.80 British fs, 1937 86 85 7.04 C. B. A Q. Jt 6s, 1938 97 98 6.72 C. C. C. A St L. 6s, 1929 87 89 7.86 Chile 8s, 1941 6 96 8.35 Denmark 8s, 1946 100 100 7.92 French Govt. 8s, 1946.... 98 99 8.08 B. F. Goodrich 7s, 1925.. 88 89 10.35 Gulf Oil Corp. 7s, 1933.. 96 96 7.40 Jap .Govt. 1st 4s, 1925 84 86 t.65 Jap. Govt. 1st 4s, 1926 84 85 9.65 Norway 8s. 1940 102 103 7.70 N. W. B. T. Co. 7s, 1941 100 100 6.96 N. Y. Central 7s. 1930.... 101 101 6.77 Packard 8s, 1931 96 95 8.63 Swift & Cc 7s, 1926.... 96 87 7.90 Swiss Govt 8s, 1940 104 105 7.60 Tldew'r Oil Co 6s, 1980 98 94 7.02 U. S. Rubber 7s. 1930.. 99 100 7.50 Vacuum Oil 7s. 1936 100 100 6.90 Westlng'se Elec. 7s. 1931 100 100 t.90 Foreign Exchange Bate. Following are today rates of exchange as compared with the par valuation. Fur nished by the Peters National bank: Par Valuation. Today. Austria 20 .0017 Belgium .19f .0765 .8776 .0135 .1616 2.63 .0775 .0129 .0451 .0069 .0069 .1380 .2145 .1650 Canada Czecho-Slovakla Denmark England France Germany Greece Italy Jugo.Sla via . . . , Norway Sweden Switzerland . . . . 1.00 .27" 4.86 .193 .238 .195 .195 .27'" .27 .196 Turpentine and Rosin, Savannah, Ga., July 11. Turpentine Market firm, 61 c; receipts, 440 bar rels; shipments, 226 barrels; stock, 9,168 barrels. Rosin Market firm; sales, 1,047 casks; receipts, 686 casks; shipments, 1,225 casks; stocks, 86,616 casks. Quote: B, D. 3, F, $3.60; G, $3.65; H, $3.65; I. $3.70; K, $4.05: M, $4.40; N. $4.75; WO, $5.60; WW, $8.25. Announcement! PHILIP'S DEPT. STORE "Is Open for Business" The fire in our store Saturday night waa confined mostly to our stock room and basement Merchandise on th main floor was not damaged, and w are ready to serve our many customers, as usual. 24th and O Sts. Trading Stamp I Omaha Stock & 250 Peters Trust Dividend-paying preferred stocks of the best Local Corporations ' are today selling at bargain levels. Our listings include many excellent stocks and bonds priced to yield from IVt to 12. The present is very opportune to average down ' your I ll II l! holding and to provide a high income yield for the future. Ask for our quotation sheets. -'vtui m ucigfi Sen in the careful handling of all orders for grain and provisions for future delivery in all the important markets. We Operate Omaha, Nebraska Lincoln, Nebraska Hastings, Nebraska Holdrege, Nebraska Geneva, Nebraska Chicago, Illinois Sioux City, Iowa Des Moines, Iowa Hamburg, Iowa Milwaukee, Wisconsin Kansas City, Missouri Private wire connections to all offices except Kansas City. 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 Grain Company "The Reliable Consignment House" South Side Druggist Gets 60 Days In Jail for Drunkenness A. E. Mertz, 1546 South Twenty seventh street, proprietor oi the Ma ple Avenue drug store, Twenty-first and Washington streets, South Side,, was sentenced to serve 60 days in ail for drunkenness by Judge Foster yesterday. It was Mertz's fourth offense in three weeks and Judge Foster said he would oppose any move to secure the release of Mertx before the ex piration oi 60 days. Mertz last week was given a 30 day sentence on the tame charge, but sentence was suspended. Judge Orders Girl to Jail; Tears Get $15 Fine Instead Cyrus Sutton, 1938 South Twen tieth street, and Josie Hart, 2016 Francis street, had a disagreement Sunday. They became embroiled m argument and exchanged a few wal lops a la Dempsey-Carpentier. Po lice interfered and took the couple in custody. Yesterday in South Side police court Cy was fined $25 and Josie given 15 days in jail. Tearful pleas of Josie and interceding friends final ly moved his honor to relent and change the girl's penalty to a $15 fine, Iowan Takes a Drink; Five Cops Needed to Arrest Him E. M. Pnodhoft. Elliott, la., came to 'South Omaha Saturday to visit relatives. He was hot and thirsty and accepted a stranger's proffer of a drink. The stuff kicked. When a policeman sought to arrest him Pnodhoff objected. Only after fo4ir other officers came to the assistance of their mate was he landed in jail. Pnodhoff was fined $15 in South Side police court yesterday. Be cause of his ready admittance of his guilt a charge of resisting arrest was withdrawn. Half Pint; $100 James Gilland, 4939 South Twenty sixth street, was fined $100 in South Side police court yesterday for illegal possession of liquor. Police charged they found half a pint of alcohol in Gilland's home Sunday. Open Sunday; Costs $5 Daniel Specter, 302 South Twenty-eighth street, was fined $5 in South Side police court for keeping his grocery store open Sunday, July 3. South Side Brevities Words cannot express our slncert thanks to our many friends for their kind ness and sympathy and beautiful floral offerings at the time of our recent be reavement especially th city firemen. Station (; Frency Homestead, 1460 Bay, Mr. and Mrs. Kale and daughter, Mrs. Ferguson, Mrs. Julian, Rev. Charles Hal ten. Dr. R. L. Wheeler, Frank Derr, U. P. Derr and relatives. South Omaha They ar Gives) With Each ria Bond Company i It Bldf., Omaha, Neb. !! I 4UfAlluigc iJ (7705 o o o Offices at- ice
