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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (July 28, 1921)
THE BEE: OMAHA, THURSDAY, JULY 28, 1921. 11 Railroads In Debt Half Billion for Supplies Bought i Government Aid Necessary to Remove Embarrassments And Stimulate Industry, Opinion of Financiers. 1 t By HOLLAND. Railway manager who have of fices in this city are reported to feel somewhat encouraged, believing that in a few week certain embarrass ments which have borne heavily upon the railroads will be removed. Whether the public will share this felling remaini to be aeen. Railway bonds of exceptional credit are now selling at lower prices than at any time since 1884. Thirty year ago Great Northern slock commanded a market price as small as that which was quoted for it in June of this year. But in the meantime Great Northern stock stood prominent among railroad securities on account of its high market price. The Southern Pacific i now in as strong apo sition probably as it has ever been and yet its securities have been selling at a lower price than at any time since 1907. The Northern Pacific turned to a surplus which it had ac cumulated so that it might be en abled to meet successfully any emer gency and drew from it enough money to pay its quarterly dividend. Yet that dividend payment did not cause appreciation in Northern Pacific stock. In June it sold at the lowest price since 1900. Hallway Managers Announced. Railway managers, however, are n-rouraa-ad In aplta of tha almost unprsce dentedly low market quotation for their securities became. In the first placa, they may find themaelvea In position to pay the overdue bills which they owe. Tha public does not know to what an extent American Industrie and business have been com pelled to carry over lent period deferred railroad payments. Some of the best of American railroad, eonsplcuoua In the pust for prompt payment of bills, have been compelled to procrastinate their pay ments. In the afgrefat these deferred pay ments amount to a very large sum. Tho railroads are estimated to owe at least J500.0OO.00O on account of purchasee of rails. Imperatively needed equipment, coal nnd various supplies. The result has beon that the corporations whlon have fold these supplies to the railroad and have not received their pay have been seriously embarrassed. If the govern ment were to pay what It owe to the railroad then these embarrassment would "be ended. One railroad manager re inrta that one of tho strong railroad ompanles Is behind on bill payable by much a 166.000,000. But the govern lnt owes this company about J100. .00,000. Therefore, If the government would make payment this company would be able Immediately to pay its bills and have some 130,000,000 left. President Deeply Concerned. Some of the New York barker who were the guests of President Harding at the Whit House recently, and lomi of the western banker who also met the proaldent few day later, were Im pressed by the president' deep concern ever the railroad situation. They aro satisfied that he will do all that Is In his power to give relief to the railroads. If he doe exercise In full hi discretion ary power th railroads will be Immediate ly benlflted, nd that benefit would speedily reach th Industrial and business Ufa of th nation. Soma are of the opinion that It will b the first step towards restoration of business prosperity. Many believe that when prosperity does begin It will be followed by industrial and commercial activities unprecedented. That wa tha fact after the revival began in the early yar of President MeKinley's administra tion and wa characteristic of th first .year of Preldent Tft' administration, which began a few months after the re covery from the panlo of 1907. Railway managers believe that In creased net earnings supplementing prompt and liberal settlement of the ac count between the railroad administra tion and th carrier will be followed by buying upon a large scale. Laat winter when th Railway Business association met for It annual gathering. It was commonly ald that the many corpora tions throughout the United State, whose chief husltes I the manufacturing and sale of equipment, machinery and other commodities of which the railroads stand . in tiocd, were almost stagnated because of the inability of the railroad to buy supplies. But when the railroad com panies are again In position to make pur rhesf then these Industries will recover their business and probably will be pushed to their rapacity. That will stimu late general business. What the Railroads Need. , The publlo doe not realise how much Is necessary to be don for Improvement In the rolling atock, other equipment, road bed and terminal facilities, if the rail roads are to be In condition to handle th traffic which will be offered. While th bankers of the" east and of th middle west are preparing to meet the demand which will be mad for the fund with which to move the crops from th arvest fields to the markets, railway managers, on the other hand, are also preparing for thi heavy traffic. They are of th opinion that th crop will approach, If not equal, the best rec ord. Borne of them are persuaded that about ISO.OOO.OOO bushel of wheat will b harvested. They look for a very large harvest of corn, soma of them saying that dorn appear to be now the most flourish ing in It promise, at least, of all the crops. They no not know what to sey about th outlook for the cotton harvest. But the emmon opinion seems to be that cotton will harvest a smaller crop than at any time In the past SO years. There will be. therefore, a heavy demand upon th railroad for transportation of th crop from the harvest field t the mar ket. If th government now aid th rail road through funding operation and th ough the payment of balanoe still due then the railroad will more 3ily end economically handle th crops. Gome of th ablest authorities are of th opinion that If the government acts promptly a vary great itlraulu to th return of badness prosperity will have been fur' nlhed. rvin. Nw York, July t With th exception of : v linir. around th opening, due . t-nJw buymn, the cotton market was .::Iti i"l:' prepare from liquida tion i-!itrt'-el by bearish crop reports. A Texan firm announced a condition of a ccrrwed with 7.S laat month, thu indicating less than th normal deteriora ion for th period, while a looal trade paper reported quit favorably on eondl tlona In Mississippi, Alabama and Louis tana during the laat month. After th flrat hour, th market be came firmer on covering, a renewal of trade buvlng and lea active liquidation, but after rallying from th lowest, it eased off half a doaen point at midday under favorable construction placed on th weekly report! The undertone, howaver remained steady nd preasur ws lesa general than earlier In the session. It was believed from th continued steadiness of th afternoon market that liquidation wa over for th time being at least, and prfce advanced ts 1WI for October or wVhln point of the highest of the day. Private report id cotton wa beginning to move In fair volume In aouth Texas, but that th crop there wa vary Irregular. yw York Coffee. Nw York, July J7. Th market for coffee fature continued Improved to day en a dme,-d from September short. Wall (treat and New Orleans buying and further support from th trad. September advanced to I 44c, and December ta OOe. with th close rather firm at a net advance of I to II point. September, .44o: October, f.lte: December, t.stc; March, T.ISe; Hay. 7.44. Spot Coffee More active and firmer! Hie Ta, c; Bantoe 4s. mcc New York Dry Good. New York. July 17. Denim rduced 16 H per cent by the latgaat producer to meet Irregular competition, sold actively at th low prices. Liberal order were reported rn men' wear. General line of cottona and wool goods were steady hat quiet Yarns were In better demands. Knit goods ruled quiet Bilk were alow for fall. New York Med Trait. New York. July IT.Braorated Ap pies .Market carca Prunes Cjnlet. THE GUMPS A. Lrrrtt tow .$W V A . 6 tEW - urn lArre Au- eec iVMKT.vtv ha M swLwjc- JC-frCr T I UU) nt - l-. w, - (BKii i tvhlfM T kl AA ra.wi'i Tv"i Live Stock Omaha, July 27. Receipts were: Cattle Hogs Sheep Official Monday.... 8,23 6.793 10.S.1U 7,637 11,159 (.300 8,600 41,310 47,038 28,938 30,743 24,678 34,736 25,623 41,467 Official Tuesday.... (,428 Wednesday eatimate. 4.S00 Same day laat week. 18. 851 Same day 2 wk ago. 16,424 Same day S wk ago. 8.9J4 Sam day year ago.. 18,087 Cattle Receipts of cattle today war estimated at 4,800 head, a good Wednes day run. A broad shipping; demand de veloped for good handtwelght and heavy cattle and these kinds sold lOftilSo and In some cases 25o higher than yesterday. Light steer and yearling ruled steady to strong, th plain kinds about steady. Cow were uneven, mostly steady, rangers being alow sellers. Stocker and feeders were unchanged and a few western beeve that wer her also aold about teady. Cattle quotations: Choice to prime beeves. 89.00W9.26; good to choice beeves, IS. 1508. 90: fair to good beeves, 7.76 (.25; common to fair beeves, 7.2S 7.76; choice to prime yearlings, $9.16.76; good to choice yearlings, $8. 009. 10; fair to good yearlings, i.viHHtfK.eu: common to fair yearlings, 7.007.76: choice to prime heifers, $7.?69.00: good to choice heif ers, 86.O0Qi7.to; cnoice to prime cows, $6.36(3)4.60; common to fair cows, 83.00 (0)4.26; good to choice feeders, $6,761$ 7.26: fair to good feeder. $S.756.60; common to fair feeder, 5.00S,75; good to choice stocker, $6.2S6.75; fair to good stocker, 6.606.26i common to fair stookers, I4.605.50; stock heifers, 4.006.60; stock cows, I3.00g?4.2; stock calves, $4.007.25; veal calves, $4.609.50: bulls, stags, etc., $4.607.25; western ranjrers, good to cholco grass beeves, $7.007.75; common to good grass beeves, 15.0006.75; fair to choice grass cows, $4.606.75. BEEF BTKEKH, No. Av. Pr. No. 947 8 80 24 Av. .1384 .1290 . 833 . 822 . 807 Pr. 8 75 00 20 8 65 6 00 11.. 38.. 44.. ...1210 ...1022 ...1432 ... 713 ... tiG 7 ...1480 8 85 38.... 16 27.... 9 2$ 22.... HEIFERS. ( 25 13 8 25 BULLS. 4 76 S COWS. 5 00 7 6 25 10 65.. 31.. 20.. 1.. 454 6 00 95S 9 1096 27 921 8.1 1081 .1144 . 933 5 10 5 35 6 40 HEIFERS. S 86 1111 f 00 Hogs Only 8.300 hogs were received for today's trade and the market ruled higher but advances were paid by packers under protest and the general trade was rather quiet. Shippers bought desirable hogs early at prices 25c to 40c higher, but packer held off and finally put up their mixed killing droves at 15025c ad vances. Best light hogs made a top of 110.86. and bulk of the entire receipts sold from $9.15 to $10.40. HOUS. M" riy k ' i a a '--f i w i. -j - i . No. Av. Sh. Pr. No. Av. . Sh. Pr. 49. .318 40 9 10 64. .310 80 9 25 73. .288 80 9 35 38.;298 180 9 40 54. .380 ... 9 45 62. .285 40 S 60 66. .268 ... 65 34. .366 ... I M 60. .263 70 9 65 33. .238 ... 8 70 63. .337 70 9 75 61. .232 270 9 90 29. .161 ... 10 60 10. .212 ... 10 65 80. .187 ... 10 76 10. .213 ... 10 85 61. .237 80 10 00 31. .270 ..; 10 25 62.-274 ... 10 35 Sheep and Lambs With 8,600 sheep and lamb here today fat lamb had to eli on a lower basis, but other classes of stock held up in good shape. Lambs trade was quoted mostly. 25o lower and sheep and feeders were fully steady. Best fat lambs dropped to $9.85 and pretty good natives sold at $9.00. Good fat ewe were reported at $5.25. A fair de mand exists for feeders and sales of thin lambs were made up to $7.657.76. Quotations on sheep and lambs: Fat lambs, westerns, $9.009.85; fat lambs, natives. $S.759.25; feeder lambs. $6.75 7.25: cull lambs, $5.006.60; fat yearlings, $5.257.50; fat ewes $3.2505.50; feeder ewes, $2.253.25; cull ewes, $1.002.50. KniuM ritv Live Stock. Kansas City. July 27, (U. S. Bureau of Markets.) Cattle Receipt,. 10,000 head; beef ste '" and yearlings, steady to 25c higher; jst heavy steers, $9.25; several loads d fed. $8.769.15: Texas. $5.65 7.60; Kansas Krassers, $7.507.80; 10 head yearlings to $10.00. top otherwise, $9.50; fat she stock, active, fully steady: good and choice cows, $5.255.76; common and medium mostly $3.604.25; good heifers, $6.357.40; canners, strong, bulk $2.25 2.50; best calves, strong, others steady to weak; top vealers, $8.0008.25, other classes steady; medium quality feeders, $6.26 5.50 ; most stocker, $5.0005.50; good- kinds, $6.00. Hog Receipts, 4,600 head; market, opened slow, mostly 2636o higher, cloae active, mostly 40c higher, pote mors; light and medium to packer and hip pers, $10.00; prime S76-lb. .weragea, $10.10; mixed loads, $10.50010.90: bulk of sales, $10.50i811.00. Sheep Receipts, 6,000 head; killing classes, 264J50O lower; best wes, $6.00; wethers, $5.80; native lambs, $9.10; Arisonas, $9.50. Chicago lire Stock. Chicago. July 27. Cattle Receipt, 8,000 head: beef steers, tocker and feed ers, steady to strong; top yearling, $10.00; belt heavy steer, $9.50, weight 1,600; bulk beef teers, $7.6099.1$; sh stock and bull, generally steady; bulk fat cow and heifers, $4.6098.75; bulk bull $5.006.35: veal calve, uneven, moatiy steady to strong; bulk vealers, $10.00910.75. Hogs Receipt, i,ov neaa; moauy jir. (6 25o higher: local packer purchased very (paringly; holdover, liberal, but clos ing generally firm: top, $11.60; bulk bet ter grade, iu.eurii.u; duik pacaing sows, $9.409.75; pigs. 1016o higher; bulk desirable, $10.25011.00. . Sheep and Lambs Receipt, 11,000 head: sheen and native lamb, (teady; no western lamb here: top native, $10,00; bulk to packers, $.00tj9.50; euile, t.dujr (.00: beat native yearling, ts.uu gooa Montana wethers, $8.60, with 100 out: few heavy and medium weight ewes, $3,500 4.75. St. Loots Lire Stock. East St. Louis. III.. July 87. Cattle- Receipt 4.800 head; native steers strong to 260 Higher; ll.sa paia lor i.ssi-pouna averages; quarantine Texas Z5s mgner; gooa ngnt yearlings, steaay; common and medium grades, ISO lower: cows and bulls steady: bulk cows. $4.5095.60; stocker, strong; veal calve, steady, $10.00$10.60. MOgs Receipt l.too neaa; closing no live, 16025a higher: top, $11.05; bulk light and medium weight. $ll.$6A $11.60; bulk heavies, $11.10011.26; packer sow, 2 So higher; clearance fair. SheeD and l.amhe Receipt. 3.700 neaa: closing alow, about steady on beat lambs; medium grades, 16 060a lower; other grade and eheep, steady: lamb top. $8.75: bulk beat lamba. $8.i5O.i0 me dium, $7.5008-00; culls, $4.00; ewe top, $4.00; bulk, $$.00O$4.00; clsaranc fair. Rloux City Live Stock. , Sioux City. July 17. Cattle Receipts, 1.900 head; market, steady; beef steers, $6,000 00; fed yearlings, $7.0009.60; grasa steer. 15. 0007.50; fat cows ana heifer. $4.0008.00; canners, $1.0003.00; veals. $5.0009.00; grass cows. $3.5008.50; calves, $3.6007.00; feeding cows and heif ers. $2.6006.25; itockers and feeders, $4.00 07.16. Hogs Receipts. 6.500 head: market, strong to 15o higher; light, $10.25010.75; mixed. $1.25010.25; heavy. $8.2509.35; bulk of sales. S8.76O10.50. Sheep Receipts, 800 head; market. strong. Linseed Oil. Culuth, July 27. Linseed on track and arrive, l.llfcci July, 1,11a asked, Mivi - -AH- r n i in w ',ANT VJrlAf.frO X0 "WINK i NOMA I ttt TAlfV l War . aJ..L a S VIMS TTtW. V -. - I Closing Quotations Stocks, Grain, Omaha Grain July 27, 1921. Wheat receipts continued liberal today with 286 cars, against 183 cars last Wednesday and ISO cars a year ago. Corn arrivals today were 42 cars and oats 22 cars. Wheat prices were 3c higher for the bulk. Corn ranged unchanged to lc higher.- White was generally 4c up, yellow c to lJ4c up and mixed un changed. Oats were generally c lower. Rye and barley prices were nominal. WHEAT. No. 1 hard: 1 car, $1.23 (dark); 1 car, $1.22 (dark); 4 car. $1.21 (dark); 1 car. $1.20 (75 per cent dark); 1 car. $1.18; 3 cars, $1.17; 1 car, $1.17 (smutty); 1 car, $1.16tt; 4 cars, $1.16; 2 cars, $1.16 (yel low); 1 car. $1.16 (smutty); 3 cars, $1.16; 2 cars, $1.15 (yellow). No. 2 dark: 1 car, $1.25 (special bill ing); 1 car, $1.23 (dark smutty); 1 car, $1.20 (dark); 2 cars, $1.19 (smutty); 1 car, $1.17: 2 cars. $1.17 (smutty) 3 cars, $1.16; 6 cars, $1.15tt; 5 cars, $1.15 (yel low); 8 cars, $1.16; 2 cars, $1.15 (heavy); t car. $1.14 V, (yellow): 10 cars, $1.14: 15 cars. $1.14 (yellow); 2 car, $1.14 (smutty): 1 car, $1.13 (smutty); 1 car, $1.1.1 (very amutty). No. 3 hard: 2 cars, $1.20 (dark mutty): 1 ear, $1.19 (dark smutty); 1 car, $1.17 (dark smutty, 30 per cent rye); 1 car, $1.16; 1 car, $1,141,4; 10 car, $1.14 (yel low); 1 car. $1.14; 1 car, $1.134 (yel low); IS cars, $1.13 (yellow); 4 car, $1.13; cars. $1.1. No. 4 hard: 1 car, $1.19 (4.4 per cent rye): 1 car, $1.18 (dark smutty); 1 car, $1.13H: 1 car, $1.13; 1 car, $1.13 (heavy); 1 car, $1.13 (smutty); 1 car, $1.12; 4 car, $1.12 (yellow). No. i hard: 1 car, $1.12; 1 car, $1.11. Sample spring: 1 car, $1.03 (dark Nor.). No. 2 mixed: 1 car, $1.13 (durum.) No. t mixed: 1 car. $1.05 (durum). CORN. No. 1 white: 3 car, Slc; 8-5 car, 61c. No. 2 white: 1 car. llttc No. 4 white: 1 car, 60c. No. 6 white: 2 cars. 50c (musty). Sample white: 2-8 car, 46c. No. 1 yellow: 5 car. 62c. No. 2 yellow: 1 car, 51ci i car, 81He; S car, 61c. No. yellow: 1 oar, tie; 1 car, BOHc (In store). ...... No. 4 yellow: 1 car, 480 (in tors). No. 1 mixed: 1 car, 50V4c (near white); 1 car, 80c. No. 2 mixed: 1 car. 60Hc; 1 car, 60o. No. mixed: 1 car, 46 tfc (shipper1 weights). . OAT8. No. 2 white: 1 car, 3314e. No. 3 whit: 5 car, 82Vc; 1 car, 32c nNo.'' whit: 1 car. 82c; I car, 81o. RYB. . No. 1: 1 car, $1.05. No. 2: 3 car. $1.04. No. 3: 1 car, $1.04. OMAHA RECEIPTS AND SHIPMENTS. Week Tear Receipts Wheat . . Corn . . . . Oats Today. ..286 .. 42 .. 22 ago. 181 48 17 S 1 ago. 160 89 12 6 Rye 7 Barley 1 Shipments Wheat 1!" 1 l Corn 75 80 18 Oat. 9 14 2 Rye 1 Barley 1 CHICAGO CAR LOT RECEIPTS. Week Tear Today Ago Ago Wheat 770 721 94 Corn 21 168 131 Oat $65 98 169 KANSAS CITY CAR LOT RECEIPTS. Week Year Today Ago Ago Wheat 606 616 218 Corn 1Z 1 I Oats 8 14 ST. LOUIS CAR LOT RECEIPTS. Woek Year Today Ago Ago Wheat S4 401 268 Corn $0 46 30 Oats 5 41 20 NORTHWESTERN CAR LOT RECEIPTS OF WHEAT. Week Ago 199 103 118 Year Ago 237 129 62 Today Minneapolis 202 Duluth 197 Winnipeg 63 PRIMARY RECEIPTS AND SHIPMENTS Receipt Today Year Ago Wheat 3,839,000 1,476,000 Corn 809,000 617,000 Oat 2,084,000 746,000 Shipments Wheat 1,318,000 667,000 Corn 485,000 281,000 Oat 253,000 339,000 EXPORT CLEARANCES. Today Year Ago Wheat 803,000 438,000 Corn 217,000 Oat 193,000 CHICAGO CLOSING PRICES. By Updlk Grain Co. DO. J627. July 17. Art. Open. High. Low. Close. I Yes. Wot. July 1.J4H 1.18 1H 1.28 1.24H 12414 SflJ). 1.24 1.18 1.1SK 1.27 1.24 1.23H 1.2714 1.28 Dee. 1.17 1.80 1.26V 1.29 1.26U 1.18H 1.28 1.26 Rye July I 1.251 1.30 I 1.16UI M9 1.25 Sep. 1.10 1.14 1.10 1.14 1.10U Dec. 1.11 1.1SH l.llVi M4V 1.11 Corn July .64 .66 .64 .66 .64 Sep. .(1 .61 .60 .61 .61 1H Deo. .80 .61 .80 .61 .60 Oato J July .17 .87 .ST .17 .IT Sep. .39 .39 .38 .39 .39 . Deo. .41 .42 .41 .42 .42 Pork July 18.60 18.60 18.60 18.60 18.60 Sep. 13.80 18.80 13.80 18.80 18.80 Lrd July 11.01 11.6T 12.01 12.0T 11.11 Sep. 12.13 12.20 12.10 12.17 11.00 Rib July 10-68 Sep. 10.70 10.16 10.70 10.86 10.70 Minneapolis Grain. Minneapolis. July 17. Flour tin. cl vgad to 10a lower, in car load lot, family patent quoted at $1.6008.10 a barrel in 98-pound cotton lack. Bran $16.00. Wheat Receipt, 101 car compared with 117 cara a year ago. Cash: No. 1. northern. $1.41 146; July, $1.13; September, $1.S1; December, $1.11. Corn No. 1 yellow, 64066c. Oats No. 1 whit. 11 014. Barley 44064c Rye No. 1, $1.1101.1$. St. Louis Grain. St. Louis, July 27. Futures Wheat, July, $1.12 bid; September, $1.28 bid. Corn July, 67c; September, 88 o bid, Oats July, 35c; September, 17c bid. St. Joseph IJve Stork. St. Joseph, July 27. Cattle Receipt. 6,000 head; 38(5 40c higher; steers, $6,000 9.26; cowa and heifers, $4.0008.60; calves, $6.0097.50. Hogs Receipt, 2,000 head; market steady to lOo higher; top, $11,00; bulk, $10.00011.00. Sheep and Lambs Receipts. 1.600 head; stendy; lambs, $1.00910.16; ewe. $4,000 THE DAM HAS BURST f w w - II KNOW fi IDlrLL St . f. 2. Sim? z 'wmtt OAtJTV . YWN - A EM.IX(& TTlNtj Financial She NtwJi By ALEXANDER DANA NO YES Chicago Tribune-Omaha Bee Leased Wire. New York, July 27. Call money on the stock 'exchange declined to 41 per cent today, the lowest rate which has been quoted in the regu lar market since early in November, 1919. Since the rate for loans on time also yielded today the final bid rate of 5j4 per cent being sim ilarly the lowest reported since the autumn pf 1919 it may be fairly said that the money market is now reflecting the completion of the long liquidation of which the sudden ad vance of money rates nearly two years ago, was the premonitory sig nal. To what extent the easy money rates of today foreshadows the mar ket for the rest of 1921, it would no doubt be premature to say. Midsum mer is not the time to predict an autumn money market. But the significance of the present movement is not obscured by that fact. There is not the slightest probability of a return to such con ditions as those of last autumn. The larger question for the rest of 1921 is how soon and effectively the re turns to normal conditions will be followed by a similar move in the international money markets. Improvement In Sight. The past week's unprecedented! large release of accumulated wheat by the western farmers sugsrests that the way is being paved for better things in that section of the country. Neither the price of cotton nor the condition of southern credits seem to point as yet to a similar restoration of normal conditions in tho cotton belt, yet If the 1921 crop Is actual ly reduced 6,000,000 bales from last year, the effect on the unsalable mass of cot ton carried over from 1920 and on th bank credits tied up In it, can hardly fall to be important. The stock market made no visible re sponse to tho day's movement of money rates; the slow but persistent recovery of prices early in the month, at a season when prices are usually apt not to move at all, had presumably been caused by execution of precisely such action of the money market. Advances and declines pretty nearly equalled one another and most of the change wer only fractional. Industrial Break. The one exception, a violent break in one industrial stock, served chiefly to Il lustrate how far Wall street has drifted from the nervous apprehensions of a month or two ago. The 20-point decline in United Drug shares was understood to be the result of forced liquidation of an ill-.1udged venture in his own company's stocks by an unlucky capitalist. United States Steel shares, which had their first opportunity today to pas Judgment on the June quarter onrnings, advanced a full point during the day.' Tuesday's price, however, had been 13 points below that of 12 weeks ago, -which "discounted" much. Like Wall street, the Iron Age is inclined in its midweek review, to regard the earnings statement as better than might have been antici pated and It ascribes that fact to the company's ownership of railways and profit from lake navigation. Attention In called to a 10 per cent reduotlon of wages at the corporation's Lake duperlor Iron Mines, supplementary to a 20 pet cent cut made in May. Turpentine and Rosin. Savannah, Ga., July 27. Turpentine Firm 61c; sales, 100 bbls.; receipts, 662 bbls.; shipments, 101 bbls.; stock, 11,162 bbls. Rosin Firm; sales, 1,042 casks; re ceipts, 1,108 casks; shipments, 1,818 casks; stock, 91,067 casks. Quote B, D, E, F, $3.60; G, $3.65 3.70; H, $3.75; I. $3.80; K, $4.00: M, $4.75; N, 4.4594.60; WO, $6.1606.20; WW, $6.00. New York Pugar. New York, July 27. The local market for raw sugar was quiet today as far as the domestic market was concerned, with sales of only 14.000 bags of Cubes reported to New Orleans for August shipment, although Europe was again In the market and sales of 154.000 tons of Cubas was reported to th United King dom at 20s, 6d. Prices were unchanged at 3 cents for Cubas, o. 1. f equal to 4.61c for centrifugal. Service in the careful handling of all order for grain and provision for future delivery in all the important market. W OperaU Omaha, Nebraska Lincoln, Nebraska Hatting, Nebraska Holdrag t, Nebraska Genera, Nebraska Chicago, Illinoi Sioux City, Iowa De Moines, Iowa Hamburg, Iowa Milwaukee, Wieonin Kama City, Missouri Private wire connection to all office . eseept Kansas City and Milwaukee. We Solicit Your Consignments of All Kindt of Grain to , OMAHA, CHICAGO, MILWAUKEE, KANSAS CITY AND SIOUX CITY Every Car Receive Careful Peronal Attention The Updike Grain Company "The Reliable Consignment House" - . . v, . eiV A(C . TlOtCA .Rtv f rre - - I'VfVVE BELS IHYlTtP OUT w ihwtc-ruiMfe-:- AnO rYE ;O0T' timi srejnw s auu nvv w- IT New York Quotations Range of prices of the leading stocks furnished by Logan & Bryan, Peters Trust building: RAILS. Tuesday's High. Low. Cloae. Close. A., T. A S. F 85 84 84 85 Bait. & Ohio 39 38 39 39 Canadian Pacific. .113 112 112 113 N. Y. Central 71 71 71 65 13 69 71 Ches. & Ohio 65 55 13 69 7 94 26 20 18 74 6 36 68 32 77 70 274 Erie R. R Ot N., pfd Chi. Ot. Western Illinois Central.. . 13 , 70 . 7 .94 , 26 , 21 , 18 13 69 7 93 26 21 18 74 65 36 69 32 78 20 7 94 26 20 18 74 65 36 69 32 K. C. Southern... Missouri Pacific... N. Y., N. H. & H. . Northern Pac. Ry Chi. & N. W Penn. R. R Reading Co C. R. I. & P 76 66 38 69 33 Southern Pac. Co. 78 Southern By 20 C. M. & St. P.... 27 78 10 27 27 Union Pacific Wabash ..120 119 119 120 7 I , STEEL. Am. C. & F 126 123 Allia-Chal. Mfg... 32 81 Am. Loco. Co 85 84 Utd Alloy Stl Corp Baldwin Loco Wk 80 78 Beth Steel Corp... 49 47 Colo Fuel, Iron Co. 26 26 123 125 31 Sl 84 84 25 78 78 68 67 25 25 65 64 26 26 39 88 23 23 65 74 46 45 79 74 73 38 38 37 37 Crucible Steel 66 54 Am Steel Fdrys... 26 26 Lackawanna Stl Co 39 39 Mldvale Steel, Ord 23 23 Pressed Steel Car. 72 64 Rep Iron, Steel Co. 46 45 Ry Steel Spring... 86 77 Utd State Steel... 74 73 COPPERS. Anaconda Cop Min 38 37 Am Sm, Rfg Co.. 27 37 Butte, Sup Min Co Chil Copper Co... 10 10 10 Chino Copper Co.. 28 23 23 lnsplra Cons Cop.. 34 34 34 Kennecott Copper. 19 10 19 Miami Copper Co. 21 21 21 12 10 19 21W 'ii'i Nev Cons Cop Co.. 10 10 10 Ray Con Cop Co INDUSTRIALS. Am Beet Sug Co Atl. G & W I S S. 21 20 21 31 '.i 21 24 49 Am Internat Corp 84 23 34 Am Sum Tob Co.. 60 49 50 Am. Tel. Tel.. 106 105 105 105 Am. Agr. Chem. . 36 30 36 Boch Magneto American Can Co. 28 Chand. Motor Car 49 Cen. Leather Co.. 48 Cuba Cane Sugar. 10 Cal. Packing Corp 68 Ca. Pet. Corp.... 16 Corn Products Rfg. 67 Nat. En. & Stamp 47 Flak Rubber Co... 12 33 28 48 35 10 67 15 67 12 123 18 31 71 58 60 63" 1 11 41 12 27 48 82 10 68 36 47 27 49 13 10 68 36 67 47 12 12 an. Klectrlo Co.. .12 212 123 Oen. Motor Co... 10 10 70 Goodrich Co 22 Intr. Harvester.. 7S Haskell A Brkr... 67 U. 8. Ind. Aloohol 61 Inter. Nickel 14 Inter. Paper Co.. 64 Island OH S AJax Rubber Co.. 23 Kelly-Sprlngfleld.. 43 Key. Tire A Rub. 13 21 81 70 66 60 14 63 2 22 41 12 72 66 61 14 64 2 22 41 12 Inter. Merc. Mar.. 11 11 11 Mexican Petrol. 105 103 104 103 Middle Statea 11 10 11 11 Pure Oil Co 25 25 26 25 7 35 48 17 52 63 J8 20 67 31 76 69 7 34 18 11 Willys-Overland .. 7 6 6 Paolfic Oil 16 16 36 Pan-Am. Pet 49 48 49 Plerce-Arrow .... 17 16 17 Royal Dutch Co... 83 61 52 U, 8. Rubber 54 62 63 Am. Sugar Rfg.... 69 67 68 Sinclair Oil 20 20 20 Sears-Roebuck ...66 64 66 Stromsberg Carb Studebaker Corp. 78 76 77 Tob. Products .... 80 68 69 Trans-Continental 7 7 7 Toxas Co U. S. Food Pr. ... 17 17 17 U. S. Sm-Rfg White Motor 32 32 32 Wilson Co., Ins. ..36 35 36 Western Union West. El. -Mfg. .. 43 43 48 American Woolen 73 71 72 84 44 71 Total sales, 498,000. Money Close, 4 par cent; Tuesday close, 6 per cent. Sterling Tuesday closs, $3.51. The Witching Hour is going to strike soon. 000 Offices at- i . - . t r, nwtw M ftve- A vKPKt f L CAN 'VSN-Y. 'SHE - M AV c?Ar 3T Live Stock Chicago Grain By CHA-RLES D. MICHAELS. Chicago Tribune-Omaha Bee 1 -caned Wire. Chicago, July 27. A hardening of grain values, with wheat in the lead, was due to lighter offerings and to active buying by recent sellers, as well as by exporters. Closing trades were well toward the top, with July wheat up 44c, September 3c and De cember 2j4c for the day. Corn gained 'Ac, with July leading and oats were c higher, while July rye was bid up by shorts and closed around the top at 4fjc better than Tuesday and September gained 4$c. A decided change has come in the wheat situation, particularly regard ing the movement in the southwest. It was claimed by some of the re ceivers that consignment notices dropped 50 per cent, owing to farm ers not getting more than 90 to 95 cents for their wheat. Southwestern and norhwestern millers have com peted for the offerings in Kansas and Nebraska and late messages from Kansas City said millers and export ers have cleaned up their wheat at 6 to 8 cents higher than Tuesday. Omaha and St. Louis were up sharp ly and Chicago had a good advance, with premiums well maintained witb a slight increase. Exports sales at the seaboard were over 500,000 bush els, Germany. England and South America buying, the latter claiming that wheat prices in the United States were lower than in South America. Exporter Good Buyer. Removal of hedrlnic sales against ex port business absorbed the new hedging Bales put on by local and other Interests. Seaboard exporters were good buying of futures. July was bid up by houses with seaboard connections, while tho spread between September and December - Are You Take advantage of this great sale if you do not, you are misting out on one of the greatest buying and saving opportunities ever afforded the buy ing public. We must make space in our store for incoming new and fall stocks. We therefore are throwing this merchandise to our customers for practically whatever we can get for it. A visit to our store will thoroughly convince you that here lie bargains waiting for you that you never dreamed of. Sale of Ladies' and Misses' Wearing Apparel Thursday at 9 A. M. Ladies' Smocks, in ail colors, beautifully hand embroidered in different colored yarn, values up to $5 and $6, wonderful bar gains so ridiculously low priced Children's Gowns, in white, made of crepe, long cloth, sizes 2 to 14, exceptional values Ladies' Envelope Chemise, in white, made of batiste and nain sook materials, hand embroid ered and fancy lace trimmed Ladies' Petticoats, in pink and white, made of fine quality mus lin and satine, some hemstitched, lace and embroidered flounces, wonderful values Ladfbs' and Children's Bloomers, in pink, white and black, made of Princess satine, crepe and long cloth, unlimited stock to select from Girls' Middie Dresses, tailored, sailor styles, made of best ga latea material, blue and gold trimmed collars, very comfort able for these hot summer days Ladies' Petticoats, made of black satine, fine quality chambray and gingham, every one a bargain v These are just a few of the many items offered at this lack of space in this ad. Watch the daily papers for All Sales Final r 4.1 a s tnanauMi. Ak for H&C Green Tradiaf Stamps They Are Given Drawn for The Bets by Sidney Smith. Copyright, 1921. Chicago Tribune Oompany ''WMnnr. J-aO TMK1K ft Mir U iAVlth- JUST "C. TCOKOrWlCAL? I'LL' N , MU- which was S cents at the close Tuesday, nsrrowed to 1c. - Minneapolis reported that No. 1 dark northern tsprins; sold at 65c over July. Primary receipts for the three day aggregated 11,284.000 bushels against 10,811.000 bushel Iat week and 4,(73,000 bushel last year. Shipments were 4,438,000 bushels against 1,822.000 bushels last year. Receipts for tha day were 440 cars. Exports from the seaboard, 804,- ooo. Deterioration was reported In the corn crop by the government weekly crop bulletin, due to drouth which Is serious. This, with the strength In wheat, ws the basis for buying by recent sellers, with an advance of lc, with July at 86c where it closed, while other montha were up He to lc. with December at 6lttc at the last. Oats Prices Drop. Selling of 3,000,000 bushels of September oats by a local house was credited to Llvermore, a New York trader. The oat were bought more than a month ago at around 41 to 43c. The selling de pressed prloes from S94o to I8c. After It was over and the grain absorbed by holders of weekly bids and previous sel lers, prices advanced lc and closed with a fractional gain at 31 Ho. Klevator people bought September anil sold De cember at 3c difference. Rye was bid up to 11.30 for July or 4 lie over the previous day's finish, with the olose a fraction below the top. F. S. Lewis and Knight Co.. presumably aotlng for loading longs, were the prin cipal sellers. Provisions wer bought by recent el lers. Cregson taking 1,600,000 pound October lard early, getting it from half a dozen house, The olose was around the top with gains at lo on lard and ribs. Pit Note. Th wheat situation 1 working strong er. There I an Impression that th big ruh of wheat from th farms has reached Its peak for the time being: that the export demand will be sufficient to ab sorb the hedges from now on and that the constructive side of the market will most profitable, although purchase should be made only on sharp decline. The volume of outside business is not large and there has been active covering by recent sellers, not only in wheat, but in all grains, particularly corn and oats, where the short interest wa greatly ex tended. Should prices advance too fast, it is not expected that the miller and exporter will continue ready buyers, a their policy has been totak wheat on the breaks. A Minneapolis grain man who wa her today says only threshing return can give a definite idea of the crop In the American northwest and in Canada, ow ing to their spotted condition. Around Minneapolis they are finding many field of corn with stalks six feet high and no ears or indications of any. Taking Advantage Now Going on at Ladies' Gowns, made of fine crepe, longcloths and nainsook materials, in pink and white colors, embroidered and lace trimmed, sizes 15 to 20. Won derful assortment to select from Any Article Ladies' Linda Belle House Dresses, made of fine quality ginghams, percales, light and t1ark colors, in plaids, checks and stripes, in all sizes, trimmed in rick-rack, large assortment to se lect from No Exchanges Your Choice $ 00 South Side Rosse-O'Connor Wedding Solemnized at 7:30 Mass A pretty wedding was solemnued yesterday morning at the 7:30 mass at St. Agnes- church, when Miss Opa! E. O'Connor became the bride of John II. Rosse, Rev. Father Ahearn officiating. The bride was beautiful in a white georgette gown with a tulle veil and carried a shower bouquet of white roses, sweet peas and swansonia. The attendants were 'Miss Grace Hanna and E. J. Rosse. Miss Hanna wore a blue organdy dress with hat to match and carried Mrs. Ward roses. Following the ceremony a wedding bieakfast was served at the home-of the groom. Out of town guests were Mrs. W. D. Curran of Atchison, Kan.; L. L, Ryan of Audubon, la.; Mrs. E. J. Ryan and family of Kansas City, Mrs. R. Ryan, Marie Ryan, Misses Margaret and Marie Leonard, and Mrs. Acker of Council Bluffs. After a short trp the young couple will make their home in the South Side. Woman Severely Scalded When Wash Boiler Upset While doing the family washing in the kitchen of her home at ('805 South Thirtieth street yesterday Mary Gorep, 26, fell against the boiler at the stove, upsetting it and suffering severe burns on the right arm, leg and right side of the body from the scalding water. Her husband, Thomas Gorep, was away at the time, continuing his search for employment. Her two children, one 6 years old ant! the other a baby of a year and a half, were in the house. Mrs. Gorep was taken to .South Side General hospi tal, where attendants say her con dition is critical. Police Seize 50 Barrels Of Mash in Night Raid When detectives raided Fred Daliana's place at 1911 South Thir teenth street Tuesday night they found 18 50-gallon barrels of mash, they reported to South Side head quarters. Daliana was arrested and fined $100 by Judge Foster in South Side police court yesterday. South Side Band Concert Armour's band will give a concert this evening at 7:30 in Morton park, South Side. South Side Brevities Women of the Trinity Baptist church will hold an ice cream socle.) on the church lawn at Twenty-fifth and H streets Friday evening. RAINBOW overalls World of wear in every Union Made air. Sold exclusively at PHILIP'S DEPT. STORE 24th and O Street of the Big 4f 50 dozen beautiful Ladies' Waists, made of organdie and French voile, exquisitely trimmed in filet lace, hand embroidered and hemstitched. These Waists are exceptional values and the assortment is unlimited to select from , Ladies' House and Street Dresses, made of best quality gingham materials, trimmed in organdie, sizes 14 to 44, real bargains as priced Boys? Wash Suits, sizes 2 to 8, in white and blue, made of the best materials to stand the wear, also Boys' Sailor Suits and One-Piece Suits, made of gingham and pop lin, finished with fancy pockets and cuffs Ladies' and Misses' Middie Blouses, in white, blue and red, sizes 14 to 44, made of good quality materials, excellent as sortment to select from Ladies' White Dress Skirts,' made of fine quality white pique aad gabardine materials, well tailored, with fancy pockets and large pearl buttons, wonder ful assortment of these skirts awaits your selection fire sale, on account of the values offered at this store. No Refunds South Omaha With Each Purchase. mm
