THE m-E: OMAHA. THURSDAY, JANUARY 5. 1922.
11
Bankers Planning
Heavy Purchases
of Foreign Bonds
Proposal Investments " Be
lipvfil Subject of Confer,
nice Heic ntly IW.I With
. Secretary Hoover,
By HOLLAND. '
Herbert Hoover. eciHarv tf
comme-rce in l'rcidcnt .Harding'
caliinct, was in ronfrruAice in tin."
holiday week with repfKcnUtivrs cf
the Investment Banker' Aociation
of Aimrica. lie came lo New Vork
to nirct these invectftient bankers
with the undcrnUiidinJi that'lhe oc
casion would be infiJFiual and that
discussion ihould be (carried on by
those who were entyuitiing him at
hous at a liincheot The confidence
that was imposed by . Mr. Hoover
e that no publiiAuion be made of
hi remarks or i,f the questions
' which were put tt him and his an
swers was well kept. Yet it was
reasonable to inJrr that this infor
mal gathering liUl for its purpose
discussion respecting the attitude of
the administration at Washington
towards .Amirican investments in
securities offered by foreign na
tions, nnyfticipalities, railroads and
iiidiiKtriajr corporations.
This iifftrDnc Jutiri notiie of tli re
port ythlch havo provulli-.l for rvrl
wwk'f In which Inilnmtliin mails
llin,v.m of lh lomlinic banking auihnrl-
ilff uf th I'nilKj HitK r now sIvliiK
rrnM runsllcratinn to th proposition
that Ihfrt bo pla.K.I In thla country what
In th ai(r(ala would bo a vrry lar
llnf of forolfii curltl'i. Tha public haa
had no Intimation, nr avn auaplclon, that
vontertncea wholly Informal but none the
!a carnrat hav bn In prorra for om
tim baiwaen American bankers. The
nnfarfniT. ar In Una with varloua propo
altlnna which, If they ara ccptl. will
-u.i tha yrar 1121 to bvomi traditional
hcaua of Iba number of larv mpricera
rnnaummatpd In that year; auch, for In
aianre, aa tha acknowledged purpose to
brlnir Into one corporation aeveral of the
atrel inilustrlra which arc now Independ
ent corporation.
Can Aid Other Nations.
Of rouraa there Is to be no merger of
' hanklne tnteresta the basis of which would
he a great roniblnation perfected In order
to market In thla country foreign securi
ties. A mercer of thla kind Is not neces
sary and probably would not be prac
ticable. All that la needed la a common
Agreement which may find expression
through the organization of underwriting
svndlcatea. For It Is the acknowledged
view of some of the leading financiers
and banker that the United States should
e.nd can greatly aid other nations In re
gaining health and recovering from In
dustrial prostration by purchasing well
selected securltiea. For unless this be
tlone Great Britain, Europe and the rest
of the world can. In the opinion of the
bankers. In no other way meet their
obligations with the United States than
by eiportlng to this country commodities
In auch vast amounts as seriously to In
terfere with our domestic industries.
Mr. Hoover Is An Optimist. '
Mr. Hoover has for some tlma spoken
for publication Jn a full spirit of optimism.
He Is understood o have been even most
emphatic. In this respect when In private
conversation. He ilus not mean that
within the next 12 months the world will
havo fully recovered, r but It Is his view
that recovery will be well under way by
the first of January, 1933.
There seems 'to be good ground for the
suspicion that our bankers know that
during the year 1932' many large offer
ings of foreign securities will be made to
American bankers. ,T()ey also know that
we are financially in auch strong position
that In case the securities have merit they
1 will find a ready masket In this country.
'." Investment bankers.' however, recognise
" that it is essential before making any
purchases that the; administration at
Washington approve a transaction ot th3t
kind. Una of the most Important, aa well
hii the largest of proposed loans to foreign
Itetions which was the so-called six-oa-)
tin loan of 1150.600. 000 to China, was
r .i u. u,n. 4dn.,tm.n( ii WaahlnB:-
ton would not give Its approval. After
wards, when a change of administration
had been muds, the State department did
Klvs lu warm approval to the proposition
that the United Statea with other nations
make a loan to China. . ,
- Market for Foreign Securities.
The fact that In the year that has just
ended bonds and other evidences of do
mestic financial obligations were marketed
tn tiA i!nit4 states . in so great an
amount that probably $3,000,000,000 docs
not fully represent tne aggregate w
transactions, justifies the belief that if
, k. ...mvii nr the administration Is re-
-i.w .mi If other matters, soma of
them technical, some of them of policy,
are satisfactorily adjusted, then the
United Statea will become a ready market
for securities sent here from other parts
of the world.
, Probably many of the foreign loans
v negotiated here will be utilUed for paying
,,r..hr, made bv foreign natltfhs In
tha United States. Much the greater
part of the ten billions which the United
si.i.. inuned to our allies In war days
' remained In the United States and was
utilised in payment for purchases oi
American products. Japan followed this
plan at the lime of the war with Russia.
' For the Jipanese government borrowed
some forty millions from American bank
ers with the understanding that the
.... Kiutnd would all he ex
pended In payment for commodities that
Japan was to buy In the United States
and which she imperatively needed in
order to continue hor war with Russia. It
may be that before tne ena oi
a fairly complete statement of the securl-
.... e,..i,-n countries which were mar-
v'eted In tha United States In the year
1921 will be made public. But there Is
no need of precise statistics to prove that
purchases of foreign securities in the
t-i...i stt match, relktively spealclns.
the enormous purchases of domestic secur
ities which have made a recora iur i
no precedent In our entire history can be
found.
St. Joseph Uve Stock.
retpts. 4.000 'head; market slow; generally
J5c lower: steers. 35.00&8.50; cows and
t T,. . ,n . i .Hie nuK3 ' . -
Hogs Receipts. 8,000 head; 10 cents
lower to shippers: steady Jo strong to
packers: too. s.i; ouik. "" '
Sheep snd Lambs Receipts. 2.500 head;
market steady; lambs, 10.5011.2j; ewes,
33.50 4.25.
Chlraro Livestock.
Chicago. Jan. 4 Cattle Receipts 8.0"?:
mostly steady on all classes; lower grades
beef steers and fat she stock uneven: top
yearlings. $9.50; top heavy steers. s.h&.
bulk beef steers. $6. 50 7.66: butcher cows
weak: bulk, $4.0004.36; bulk veal ca ves,
J8.00e8.6: Blockers and feeders slow,
demand largely for light kinds, 5.00j
5 Hoes Receipts 20,009: lights and etfry
lights steadv to 25c lower; others stesdy
to 10c higher than Tuesday's average;
closing active; holdover light: shippers
bought about 12,000; top $8.00 on light
lights; practical top $7.45 on liO-pounl
averages: bulk. S57.40: pige slow. 2a
to 4 c lower: bulk desirable. $7.758.00.
fneep neceipis iw.mvw, ihm.i.s
strong to 25c higher: feeder lambs steady;
'fat lamb top, $11.85; bulk fll.sovil.50;
quality mostly plain: fat ewe top $6.25:
bulk $5.256 5.75; leeder lambs $10.25$
H.45.
St. fouls Uvestock.
Kast St. Louis, ill.. Jan. 4. Cattle Re
ceipts 4.500; beef steers, yesrilngs and
fat cows steady to 15c lower; yearllnirs
low; saia o ann, .....
rood 1.343-vound steers, $7.60;
lmxetl yearlings. .io; cannrra. cun-r
ami etockers steady; bulls strong to 25c
higher; veal calves closing mostly $2.00
lower: bulk light vealera, $S.8 SO.
Ho? Receipts 14.00'1; closing 2541 5Ae
lower: clearance poor; late top. $8.00;
bulk 170 pounds and down. $L754800;
bulk 19 to 34 pound averages, f7.30f
7 0: few 260 to 270 pound heavies, f7.20
( 7 40- packer sows weak to 10c lower,
Ji.S64j4.ei; pigs 15 to 26c lower, $6.60$
I e.
Sheep Receipts 1.500: closing stesdy
with good clearance: lamb top, $11.35;
balk best native snd western. $U.00
ii 35- ao strictly good quality here; good
holdover; yearlings brought $10: warmed
up feeder lambs. 10.5: bulk feeders, $ 00
: calls. $.M.5; awes scarce,
sold mostly at $4.60. .
Tarpeattn mass Rosin.
Savannah, ii... Jan. 4 Turpentine
Flrwi; 7Sc: sales. 41 bbls.; receipts, 1'
bbla.; shipments 114 bbls.; stock, 12.59$
bble.
Rrain Firm! sales. 312 casks: receipts.
1 cssks: ihtpmenta, 1 casks; stock,
casks. ...
nuote: B. P. K. F. G. $4 1JS; K. $4.15;
I. $4 :; K. $4 4: M. $5.29; N, $.4; W.
4a, u.; W, W, $5.96.
THE GUMPS
Qfiwe cws swins to
To Wt. ttv. HOTtH
Live Stock
Omaha, Jan, 4.
rtecelpls wero: Cattle Kogs Sheep
(irrii'ial Mnniiay ... .h 2,62 J :.u8
Ufflclal Tueailay ... 8,t S.ssD .''a3
r'.Kllmals Wednesday 4.H0I) 12 000 7,0''n
Three days this wk.. 2.1, S"H 1 ,')
Heme laat week .,..11,428 HM'5 iti.4f
Hame wks. ago ...10,41V ,294 '
Hams 3 wks. ago ...13.772 i,3t)T 31.219
Same yaar ago . .31.471 23,094" S0.U3
. RBCElTpir8 CARS.
Cat. llgs. Shp.
C, M. St. P. Ry 5 t ...
Wabash R. R 2
Mo. Pac. Ry J 1 ,.
Union 1'sc. Ry 45 39 13
C. A N. W.'Ry., eaat til
C. & N. W. Hy west ,3 8. 6
C, St, P., M. A O. Ry. ... 33 33 5
C, H. & Q. Ry., eaat 14 3
C, It. & Q. Ry., west 27 19 9
C, K. I. & V., eaat H I 4
C. R., I. & P., west 2 6 3
Illinois Central Ry 8 ... 4
C, ii. W. Ry 3
Total receipts 199 1(7 47
DISPOSITION HEAD.
Cat. Hrs. Sim.
Armour Co
Cudahy Pkg. Co. ...
Dold Pkg. Co
Morris Pkg. Co, ...
Swift & o
J. W. Murphy
Swart s & Co
Lincoln J?acking Co.
Wilson Packing Co. .
M. (ilaasburg
Higgins Packing Co.
Hotfman Bros
Mayerowlch & Vail .
Midwest Pkg. Co. ..
P. O'Bea
Omaha Pkg. Co. . .
73D 1,325 2.4011
880 2,238 1,405
90 159
411 1,178 1,467
366 1.589 2,508
.... 4,355 ....
1,193
33
58
4
18
36
19
5
13
23
29
"ii
70
7
19
38
45
711
28
3
. 32
13
11
4
133
13
129
103
I So. Om. Pkg. Co.
Ogden Pkg. Co
Bbntun & Van Sant .
J. J I. ulla
W. H. Cheek
E. O. Christie & Son .
Dennis & Francis . . .
Ellis & Co
John Harvey .......
Huntzinger & Oliver
T. J. Jnghram ....
P. (i Eollogg
V. P. Lewis
Mo.-Kan. C. & C. Co.
L. McAdams
J. B. Root & Co. ..
Sullivan Bros
247
W. B. Van Sant & Co.
Other buyers 781
Total 4,097 12,383 9.195
Cattle Receipts, 4,800 head. Cattle
opened steady today but early business
was confined largely to certain kinds
which benefited , from shipping competi
tion, mostly goon steera ot ngnt nanny
weights, others were more or less ne
glected during the morning and later
sold on a weak to 25o lower basis. Bad
weather delayed the arrivals of some
trains and helped to slow up the action
of the markets. Heifers and best cows
opened mostly steady but some other
kinds were as much as 25c lower. A
limited supply of stockera and feeders
sold readily at prices that were at least
strong.
Quotations on Cattle Good to choice
beeves, $6.857.75; fair to good beeves,
$S. 006.75; common to fair beeves, $5.'i5
6.00; fair to good yearlings, $6.267.60;
common to fair yearlings, $5.2513)6.25;
good to choice heifers, $5.766.40; fair
to good heifers, $4.255.60; choice to
prime cows, $4.76 15.25; fair to good
cows. $4.004.60; fair to good cows. $3.25
4.00; common to fair cows. $1.503.00;
good to choice feeders, $6. 006.40'; fair
to good feeders, $5.506.00; common to
fslr feeders, $4.76 5.00 ; good to cholco
stockers, $6.16(8)6.60; fair to good stock
ers, $5.756.10; common to fair stock
ers, $4.755.50; stock heifers, $4.00
6.26; stock cows, $3.004.00; stock calves,
$4.507.25; veal calves, $4.5008.50; bulls,
stags, etc., $3.00 if 4.76.
COWS.
No. Av. Pr. No. A v. Pr.
4 1032 $ 3 75 13 1103 $ 4 25
11 1022 4 30 11 1131 5 65
STEERS AND HEIFERS.
7...... 558 6 00
. BEEF STEERS.
IS 1196 6 60
HULLS.
2 ..1810 3 60 2 15S0 3 75
CALVES,
2 105 8 26
STOCKERS AND FEEDERS.
5...... 733 6 00
Hogs Receipts, 12,000 head. Early trade
to shippers today was generally steady to
10c lower on best lightweight hogs suit
able for shipper demand, the general mar
ket during the late session was mostly 10ig
15c lower with the close the lowest time.
Lightweight hogs sold from $6,601(7.00
with a top of $7.05. Mixed load9, $6.25
6.60; packing grades from $5.506.25
with the heavy packers down to $5.00.
Bulk of sales was $6.506.90.
HlXiS.
No. Av.
45. .276
51. .212
46, .210
71. .201
41. .300
Sh. Pr. No. Av.
Sit. Pr.
... f 6 60
6 10
6 80
40 6 95
Y 05
80 f 6 35
6 66
75
6 85
1 00
69. .197
C8..22S
67.. 2."3
42. .185
73. .183
Sheet) Receipts, 7,000 head. The fat
lambs market was fairly active today with
an advance of 1525c, several loads sold
within a range of $10.7510.90 with quo
tations up to $11.00. Feeder lambs were
quoted steady with none Included in to
day's receiots. a late sale yesterday of
feeder lambs was made at $10.00. The
sheep market was 15j25o higher, choice
light weight ewes selling for packers at
34.65.
Quotations on Sheep and Lambs Fat
Ismbs, good to choice. $10.2a6ll.oo; iat
lambs, fair to good, $9.5010.00; feeder
lambs, good to choice. $9.259.90: feeder
lembe, lair to goon, is.(.in.s; cun
lambs. $5.256.25: fat yearllnge, $6.00
8.50: fat wethers, $4.5065.25; fat ewes.
f 3.004314.65; feeder ewes, $3.5063.50; cull
ewes, $1.002.50.
FAT LAMBS. .
No. Av. Pr. No. A v. Pr.
211 fed 82 $10 75 88 fed 31 $10 75
Kansas City Live Stock
Kansas City. Jan. 4. (U. S. Bureau of
Markets.) Cattle Receipts, 10.50a head;
medium steers and better grades she
stock, mostly 10415o lower; desirable
steers ad low priced she stock, com para
lively active and steady; top heavy
steers. $8 0; other morning sales, $5.256
6.75: most cows, $3.6oe4.:&; lew lots.
,h.e classes. uneven and
mostly steady: best vealers, $8.5043 9.00
most ranners, $-'.25 1? 2.50; balk bologna.
$3.2503.75; early sales. stocKers. .oi)
$.25: sood feeders. $6.25.
Hogs Receipts, 7.000 head; lighter
weights, steady; others, steady to l')c
lower; 12o to 160 pounders. $7.2 7.40;
170 to 210 pounders. $6.9007.10; bulk,
oest 195 to 260 pounders to packers, $6.60
fS5: part load. $6.90: bulk or sales.
$6 5067.25; top. $7.36; pigs and packer
sows, generally steady.
Sheep Receipts. 3.00 head: killing
classes, steady to strong; best lambs.
til.:.
Sioux City LU. Stork.
Sioux City, Jan. 4 Cattle Receipts,
2.0 head; market steady; 25c higher:
fed steers and yearlings. $7.00419.00;
wanned ops. $4.5007.90: fat cows and
hellers. x3.5SS7.os; canners. ll.ostfx
veals. $.604M.90; feeders. $4.0096.35;
calves. $3. 594?. 60; feeding cow. and hell
ers. $2.S64.5A: stockers. $4.ee.2S.
Hogs Receipts. 9.OS0 bsd; market
weak. 15c lower: light lights. $7.;
mixed. .25V(o: h-avy. 15.09 6.5V
bulk of sales. $6.70424 90.
Sheep and Lstnbs Receipts. 1.600 Read
market 5c higher; lights and butchers.
.is.
if '
SCI IT IN COLOM
IN TUB SUNDAY tit
LAJR. MoYMtfl'.- Wfcpr Seal
$0 VMOOHLH VWl
V UllT-U UkJfM C B I AA
si aii. I. h sa . sv
'VvT MIT
i 1 rr -1 s ' . . UaJl. .Y4a r s . .- n n II U
Market. Financial and Industrial News of the Day
Financial
By ALEXANDER DANA NOYES.
t'hleugii Trlliune-llinulia He Leased Mire,
New York. Jan. 4. The most
significant change in today's mar
kets was one which should have
been expected. It was the abrupt
decline in call money rates to 4 per
cent, the lowest since November IS
and, except for one day's quotation
of 3 1-2 at the end of last July, the
lowest rate reached last year.
In many respects the rate for de
mand loans is a less important
measure of the situation than it was
before the days of the federal re
serve. But its Jarger movements
have nevertheless pretty accurately
foreshadowed the trend of the gen
eral money market ever since the
war. The fact that, at no time since
1919 has the rate gone below 6 per
cent in the early days of January,
lends some special interest to the
present movement.
Little Cliunge In Laics.
Ordinarily the decline Is progressive
during tho first month of the year. Aa
yet the rates for longer term loans naru
ly havo changed from December's closing
figure. That, however, was tha lowest
end-nf-the-yeur rate since 1916. It is
possible the course of the discount mar
ket will be-governed by the actio.i or tne
federal reserve and that in turn, will bo
Indicated heforchand bv the movement
of tho system's ratio of reserve to liability.
That normally gees to considerably higher
figures in January and February. If that
happens on this occasion, we presently may
eave a 4 per cent rediscount rate and a
further general reduction in the cost of
money.
' Today's markets for securities and com
modities not only responded to tho lower
money rate, but indiemted the disappear
ance o? tne acute misgiving whlsh aro.ie
with tho first news of the Chicago bank
affair. Chicago itself, whoso market is
highly Impulsive on such occasions, showed
signs of returning equanimity today. It
was expressed characteristically by bid
ding up wheat prices UVa cents after tho-
i-cent rail Tuesday.
Small Advances Numerous.
The recovery on the stock exchange was
Irreuular but advances of one to four
points wero fairly numerous. Nearly one-
tenth of thi day s transactions were in
General Motors stock, whose directors
passed the quarterly .dividend after the
close of business. It Is difficult to tako
seriously a market which, 'distributes-its
activities thus.
Prices of investment bonds, although
steadier on the whole thsn the day be
fore, gave no ov;dcne of. any definite
trend. Foreign exchange went lowor;
most of the declines were slight, but
sterling went nearly 2 cents below Tues
day's closings, reacning $.i, tne lowest
rate since December 17, when the first
sharp reaction had occurred from the
$4.24 '4 rate of the 12th.. '
Whatever may have been the seeming
discouragements of the steel and iron
trade last month and tho small stool
output was generally recognized as a fa
milar incident of the season today's re
turns of -the country's iron production
point to continued recovery in the trade.
December's average dally production was
greater by 13 per cent than in November
and by 90 per cent than the year's Ijw
average In July. .
New York Quotations
w Vork Quotations.
Range of prices of the leading stocks
furnished by Logan & Bryan, Peters Trust
building:
RAILS.
Tues.
High, Low. Close. Close.
A T & S F 92'A 91H 924 9H
Baltimore Ohio 34 34 34 34
Canadian Pacific. 119 119 11904 1191
N r Central
Ches & Ohio
73M: 72 73 73',t
65 65 65y, 551.6
Erie R R
lOVi
1014 ll!4 10
Gt North'n, pfd..
73V4
72 73 . 73 ,s
Chi
Gt West'n
6
971,4
Illinois, Central ... 98 93 98
Kan Citv Solith'n 2"li 22li 2S'i
22 'i
Missouri Pacific. 17
N Y, N TI & H..1 131i
North'n Pacific Ry 76
Chi N W 63
Pen&n R R 33
Reading Co 72
C. R I & P 31
South'n Pacific Co 7S
161,4 ' 16V4-
12 1214
75 76
62V4 63
3;H4 33
71 71
314 31
17
13-4
76 "6
63'4
33"k
71Vi
31 1.4
7S'4
18 '.4
18"4
784 7S
Southern Ry 18ik 17'4
lS'i
int. mm t Mt 18
18 18v4
XTnion PcaifiC ...126 125' 126 126
Wabash 674 6Vi 654 6 Vs
STEEL.
Am Car & Fdry.,144 144 144 145
Aliis-Chal'ers Mfg 38,4 37 3SV4 33'
Am Loco Co ....105V4 1034 105V4 IO314
Utd. Alloy Stl 25V4 ti'i 25 25
Baldwin Loco 95 93 95'4 94
Beth. Stl. Corp.... 66 55 66 65',j
Colo. Fuel-Iron ... 25 25 25 25
Crucible Stl 65 64 65 64
Am. Stl. Fdrles... 32 83 32 32
Lackawanna Stl. . 45 44 45 45
Mldvale Stl 26 27 38 ; 27
Pressed Stl. Car.. 64 63 64 ....
Rep. Iron-Stl. Co.. 61 60 51 61
Ry. Stl. Spring.... 9 94 96 96
Sloss-Shef. Stl. ...-36 36 36 36
V S. Steel 83 82 83 82
Vanadium Stl 31 80 30 30
COPPERS.
Anaconda Cop. ... 49 40 43 49
Am. Smlt.-Rfg. .. 44 ' 43 44 44
Chile Copper Co... 16 15 is 15
Chtno Cop. Co 27 36 27 86
Insp. Con. Cop 38 38 38 38
Kenne. Copper ... 26 25 36 25
Miami Copper 26 26 26 27
Nev. Con. Cop..... 14 14 14 14
Ray Con. Cop 14 14 14 14
Utah Copper Co... 62 61 62 61
INDUSTRIALS.
Am. Beet Sugar.. 35 33 35 31
A. G. ft W. I. S. S. 3 29 30 29
Am. Int Corp..'... 40 38 40 39
Am. Sum. Tob. Co. 33 32 33 33
Am. Cot. Oi Co.. 21 20 21 21
Am. Tel. Tel. ..114 114 114 114
Am. Agr. Ch. Pro. 30 29 30 29
Bosch Magneto ... 35 34 39 36
Continental Can . . 48 43 46 ....
Am. Can Co..;..,. 33 32 33 32
Chand. Motor Car 49 48 49 49
Cen. Leather Co... 30 29 30 30
Cuba Cane S'r Co. 8 3 8
Cat. Packing Corp. 9 C9 69 69
Corn Pr. Rfg. Co. 93 91 93 S
Xat. En. A Stamp 36 34 35 34
Famous Players .. 76 75 76 76
Flsk Rubber Co... 12 11 12 12
Gen. Electric Co...l38 137 138 137
Gt. Northern Ore.. 31 31 31 31
Gen. Motors Co... 9 8 9 9
Goodrich Co S 34 36 ' 35
Royal Dutch Co.. B0 49 69 49
U S Rubber Co.. 63 63 51 53
Am Sug Rfg Co.. 56 54 58 64
Sinclair Oil A Rfg 20. 19 19 19
Sears-Roebuck Co. 64 . 1 64 . 1
Stromberg Carb... 37' 37 SJ 37
Studebaker Corp.. 2 (0. Si 31
Tob Pdcts Co .... K2 61 61 61
Trans-Con'tal Oil. 10 1" 1 19
Texas Co 3 41 43 43
V S Food Pr Corp 3 9 1
Union Carbide- ... 43 43 43 43
Whits Motor Co. S 37 37 38
Wilson Co, Inc.... 27 27 27 28
Wesfgh'ss EL Mfg 49 4 49 4
Am Wool-n Co... 79 78 79 71
Total sales, Tld.OOK.
Money Close, per cent; Tuesday's
Close, 6 per cent.
Mirks Close. .6953; Tuesday's close.
.S5J.
Sterling Close. 34 29: Tuesday's rlose.
-,14.31.
ANOTHER COUNTRY HEARD FROM
I CeHU WIM POK tT
HZ C0Ht ME TOR T
UFT rwt H0VV HE tS
VtPDiNej AMY PAX woyLvM'T
MIND f I "W0UaelT C VsAS TMt
tt.0Ve. MWl Folk VlrA
UV X
t0Nt "TUtNK. THIN
Wk,Y. I IMVlf i
a a as a
TlQUt"
a rANCX n
HI 6UT I OOrfT .
r.&oiNa TO MtVT Hl,
NOW"
Chicago Grain
By CHARLES MICHAELS.
Chicago TrllMiiie-Oiiiuhs Itee l.raaed Hire.
Chicago, Jan. 4. The readiness
with which excessive margin calls
were responded to the previous day
and the confirmation of the fact
that trouble reports were- unfound
ed, brought about a material change
in the atmosphere surrounding the
grain markets. The latter . reversed
their action of the previous day and
the lowest prices were made at the
start and the highest about the
close. Final trades showed net gains
of 3 l-43S-8c on wheat, 1 3-8
1 5-8c on corn, 7-8lc on oats and
13-4c on rye.
At no time was there any great
pressure on the market and it took
but little buying to start values up
ward. Houses with foreign connec
tions 'were moderate buyers of fu
tures early and opening quotations
were as much as 3c higher. There
was more or less short covering
throughout the day and also buying
by houses with . northwestern con
nections. ' Omaha. Sells to Gulf.
Reports of a good export demand for
both hard winter and Manltobas had
some effect on sentiment and the trade
on the wlvole were more disposed to givo
attention to legitimate influences. Cash
houses took some May, apparently remov
ing hedges against sales abroad, and after
the close around 400.000 bushels were re
ported as having been sold, including
300,000 bushels.' Manltobas, while Tues
day's business was 1,000,000 bushels, or
nearly double the amount previously
claimed. Omaha sold 330.000 bushels of
hard winter to the gulf for export.
Milling demand failed to show th's in
crease' expected, although sales here ag
gregated 20,000 bushels and at St. Louis
spot prices were 1 to 2c higher, with a
better inquiry from local and outsldi
mills. Receipts were tho smallest on the
crop in the northwest and arrivals in
the southwestern markets were light.
Light rains were reported in parts of th'e
southwest where they will bo of benfit,
but more, .moisture is wanted. Movement
of new. Argentine grain is somewhat de
layed by rains and some complaints of
damage aro coming.
Corn Recovers Loss.
Corn-moro than recovered its loss of
the previous day as the result of heavy
buying, based on the belief that large
purchases- of cash grain would be made
for Russian relief purposes. Th'e country
Bhut off selling to arrive as the result
of Tuesday's decline, and tho market on
the whole showed a firm undertone;
more so than would seem warranted by
the strength In wheat. Receipts wero
not large end readily, absorbed at the
same basis, as compared with the May,
as has prevailed of late.
Exporters wero after corn in the west
and took 70.000 bushels here, but the
outstanding feature of the cash' sltua.
tion was the improvement in the do
mestic demand, both here and at St.
Louis and Omaha, with sales of 200,000
bushels here. Tho. seaboard claimed 400,
000 bushels sold ' abroad. Receipts were
327 cars.
Active buying of oats ty cash houses
to remove hedges against domestic ship
ping sales which' aggregated 400,000 bush
els, the largest in many weeks, combined
with the strength in other grains, made
an advance easily attained. Winnipeg
reported a - good export business on an
all-rail basis. Sentiment on the whole was
more favorable to the buying side. Lo
cal receiiMs, 55 cars. . .
Offerings of rye were not large and
the market' readily responded to buying,
some of which was attributed to seaboard
account. No. 2 on-track sold at 56c
under May. ,
"it Notes, and Gossip.
Advices at noon today to K. F. Leland
& Co. Indicate that the western blizzard
Is making rapid progress eastward. The
snow and high winds reported In Ne
braska and northern Kansas this morning
have swept eastward and by noon had
given- several parts of Iowa a taste of
an old-faf-hioned blizzard.
Tho Piles Current-Grain Reporter esti
mates the number of hogs slauglit.r.vd
du-nii- Hie week ending D3c;'Pbr 1.
1921. -In western markets at 633.000. as
compared with 645.000 the previous week
and 601 000 the same week of 1330.- The
total rtiniher ot hogs slaughto-el (luring
th winter season, November 1, 1321 to
December 31, 1921, Is estimated at 6.208,
000 as . compared with 5,755,000 for the
same period of 1920.
The fact that all houses cleared their
trades without difficulty and that margin
calls met with quick response gave the
wheat market a firmer tone and there
was a less panicky feeling existing. The
Board of Trade directors took cognizance
of the many unfounded rumors of financial
difficulties that were circulated and passed
thi following resolution:
"Members of this association and their
employes must not directly or indirectly,
by innuendo or otherwise, partlcinate la
the circulation of any rumors affecting
any Individual, firm or corporation, and
all members will take particular care to
see that only facts capable of substanla
tlon ara r?pcrted. Any violation of this
will -be considered against the good name
ard dignity of tho institution and will
meet with drastic and precipitate, punish
ment bv the board of directors."
Canadian visible sunply of wheat In
creased 2,087.000 bushels for the week.
Oats increased 341.000 bushels. The total
wheat is now 20,163.000 bushels, against
19.976.000 tnshels a year ago.
"Reduction In freight rales south and
east has perceptibly broadened the do
mestic demand for corn," said a St. Louis
mesvago to J. E. Bennett & Co.
"W'lieat crop reported damaged by 'too
much rain," said a Buenos Aires cable
to the" J. Rosennaum Grain compsry.
"Farmers offerings are small.'
In the last few days 60,000 to 60.000
barr-ils first clear flour are said to i:avr
been .dd fo- export at the seaboard and
there were bids for more in the market
close to -working basis..
Greece Is expected to be In the market
th latter, pert of this month for around
1,600.0(9 rushels of wheat.
CHICAGO CLOSING PRICES.
By Tpdiks Grain Co. DO. 5627. Jan. 4.
Art. 1 Open. High. Low. I Close. I Test
Wht
May
July-
Rr
May
July
Corn
May
July
Oats
May
July
Pork
Jan.
Lard
Jan.
Mar
Ribs
Jan.
May
I
I
I
99 1 1.
11 1.
oiii'p
i
i
11
1.07
II ...
o i i
.mU-.
I 1 ;
.52? .
.63)...
,4 I
11
01
01
l.S
.9
9! 1
....II
.97
I
4l
63j
i4r
,:sl
.33 I
.7, I
.64
-4l.
.77 I
.!
..5
.5J
.53
.53
.63
.54
.53
.37 I
.37
;ii
.ssi
.37
.31)..
33
-:-y
.38!..
.311 I
.3 ..
t
9 :i;.o ;i4.9 ns.oo ii4.si
65 f .5 t f MS
00 ' 9.95 I 9.00 I .
72 I1 T 72 't 73 't.71
9 I 7 95 I 7.90 I T 92
(III'
I .:
I 7 7
Bar Sliver.
New York. Jan. 4. Foreign Bar Silver
ic: Mexican aoiars. tifce.
J "K. r aVA r . IlTAbge ft. a.. .iatj aa-ak T7, llf4U . Jf, I 1
tHlS
WU. tVfR.
TVJAt
AvNt MATMA
JUST
! Omaha Produce
Furnished by Elite of Nebraska, depart,
ment of sgrlcuiturs, bureau of markets
nd marketing:
LIVE POl'LTR Y.
Wh'sale Wh.sals
Billing Selling
I'rlct. Pries.
Stags 10.17 10.20 10.20ft 10.21
Mprlligs 19'0 .20 .230 .25
Hens, light 17W .19 .2ni(i) ,22
Hens, heavy 2CW .23 ,23i .25
Cock 10v .14 .13t .14
liucks lu' .22 .304s .25
neese 1641 .19 .21 tt .23
Turkeys Utt .36 .32ii .35
DRESSED POULTRY.
Slag 19 .21 .2 Hi) .26
Spring 2l .26 .23s .30
Hens II I dp .24 .23 .30
Cocks UW .14 ,16fl .17
Pucks , 2US .22 .-'itfO .35
Oecse 22 Si) .23 ,26'n) .30
Turkeys !IM .40 .43(1.50
EOtlS.
Select 36'is .36 .450 ...
No. 1 34W ... .2l ...
No. 2 3(1 fill ... .35fiv .36
Cracks .Ziip .2t .30(j .35
Case count,
per case 10.0010.20
Storage 27 .38
BUTTER,
Creamery, prints .......... .39(g) .40
Creamery, tub .384i) .39
Country, best ., .21 ... .30 .36
Butter, fat, station
price 28Q ...
HAT.
Prairie: No. 1 upland. 'J10.50ll.00; No,
2 upland, S9.001U.00; No. 8 upland, S7.00
08.00; No. 1 midland, I10.0010.60; No.
midland. 18.60 & 9.60; No midland, 37.0
6'S.OO; No. 1 lowlann, 8.009.OO; No.
lowland, 57.008.00.
Alfalfa: Choice, tl8.0019.00: No. 1,
115.604? 16.50; standard, I12.0015.00; No.
2, S10.60ll.60; No. 3. 39.0010.00.
Straw: Oat, 33. 0009.00; wheat. (7.00
8.00.
FRUIT.
(Ry Glllnsky fruit Company.)
Bananas: Per lb., 8c. Oranges: Snn
klst, 216 and larger, 16.50; 250, 36.00:
288-324, 55.30. Oranges, choice. 176 and
larger, J5.50; 200-216, 36.00; 260-288-324,
34.50. Lemons: 200-270 Supkist.. $6.60;
360, $6.00; 300-270, choice. 36.00; 360,
35.50. Grape fruit. Dr. Phillips. 80-70-64,
J5.00; 54-46-36, 35.00; Gataway, 80-70-64,
$4.60; 64-46-36, $4.50. Apples: De
licious, extra fancy, 04-72-88-100, $5.00;
choice 100-113-126, $4.00; choice 138-160-163,
$3.60; Jonathans, extra fancy, 150
and larger, $3.50; extra fancy, 163 and
smaller, $3.25; fancy, 150 and larger,
$3.25; fancy. 163 and smaller. $3.00; old
fashioned Winesaps, extra fancy, 138 and
larger, $3.75; extra fancy, 150 and small
er, $3.50; choice 88-100, $3.50; choice 113-125-138,
$3.26; choice 150-163, $3.00;
choice 176, $3.75; choice 18S-300-225,
$2.50; Staymen Winesaps, extra fancy,
ail sizes. $3.25; fancy, all slz s, $3.00;
choice, all sizes, $2.76; Ben Davis, choice,
all sizes, $2.50; yellow Newtown Pip
pens, choice, all sizes, $2.50; basket ap
ples, coo?ers, $2.50. Cocoanuts, sack
lots, $6.50; dozen lots. $1.25. ,
VEGETABLES.
Cabbage: Crate lots, 4c; small Tots,
6c. Onions: Largs crate, Spanish, $8.00;
small crate, Spanish, $2.75. Sweet po
tatoes, hampers or baskets. $-2.00; Gold
en Glows, selected, $2.60. Potatoes: Ne
braska Ohlos, 2c; Minnesota Red River
Ohlos, plain, 2c; Minnesota Red River
Ohios, branded. 2c. Celery: California,
crate, rough, $7.00; ex. Jumbo Lluo rib
bon, doz., $1.76; Jumbo red ribbon, doz.,
$1.60; medium J white, $1.25. Lettuce:
Brawley's head, crate, $5.00; other brands,
crate, $4.00; doz. lots. $2.00; leaf, doz.,
50c. Cauliflower: Crate. $2.50. Cucum
bers: Doz., $4.00. Roots: Parsnips, car
rots, lb., 3c; rutabagas, lb., 2c: beets,
turnips, lb.. 2c.
Wholesale prices of beef cuts are as fol
lows: No. 1 ribs, 23tf; No. 2 ribs. 22c;
No. 3 ribs, I7s; No. 1 loins, 25c; No.
2 loins, 23c; No. 3 loins, 18c; No. 1
rounds, 14c; No. 2 rounds. 13c; No. 3
rounds, llc; No. 1 chucks, 9c No. 2
chunks, 9c; No. 3 chucks. 7c; No. 1 plates.
8c: No. 2 plates. 7c; No. 3 plates, 6o.
AIISCELANEOUS
Honey: Case, 24 frames, $6.00. Dates:
Dromedary, 36 pkgs., $6.75. Cider: Mich
igan, keg. $7.50. Nuts: Missouri hickory,
lb., 4c; No. 1 peanuts, raw, lb.. 9c;
No. 1 peanuts, roast, lb., 12c; Jumbo
peanuts, raw, lb.. 12c; Jumbo peanuts,
roast, 15c; saued peanuts, pail, "13c;
salted peanuts, carton, 12c. Cracker
Jack chums: 100 plain. $6.75. prize, $7.00.
Minneapolis fjrain,
Minneapolis, Jan. 4. Flour 25tg)30c
lower; in car load lots, family patents,
quoted at $6.75ffl6.S0 per bbl. In 98-lb.
cotton sa.cks.
Bran $22.00.
Wheat Cash. No. 1 northern, $1.23
1.28; January, $1.18; May. $1.18;
July, $1.32.
Corn No. 3 yellow, S939c.
Oats No. 8 white, 2933c.
Barley 38 49c.
Rye $2.7273i. ,
Flax No. 1. $1.982.04.
New York Metals.
- New York, Jan. 4. Copper Steady.
Electrolytic Spot and nearby, 13
14c; later, 14c.
' Tin Easier; spot and nearby, 32.62c;
futures, 32.62c.
Iron Steady, unchanged.
J Lead Steady; spot, $4.70 4.80.
zlnc Quiet: East St. Louis delivery;
spot, $4. 804. 85.
Antimony Spot. $4.50.
up. V
'II I
sfTi.Ts- -i
Godchaux Sugars, Inc.
First Mortgage 20 Year 7 Bonds
Fixed assets over j times this issue.
Average net earnings for past' j years
over 3 1-2 times interest requirements.
Price WArnA Interest
Yielding About 7.65
Inquire for complete circular
describing this attractive
Investment.
QmiaTrust Company
Omha National Bank Building
Drawn for
Copyright,
HHOW t AU- JVT tCAUt
tvW Vfcwr Ptvw rm r
Binrurn. UC'i I f li.err 1 IWP
.c-ARKOW ArTtK A RAN ST0M- Noy WTE To
MIN AN TUX. Vi. to U.T fA GO - Ht'Ll
rur tka.CK A ?Atrtai AUh A Ulaa Cjv.
NWt6XJ JOMlt? APTt. TNWt
LKG A OH A mA
rVAUKKJ6 BvT 9KT QO ANX
i Omaha Grain
, Omaha, Jan. 4.
AH of the earlier trading was in
corn and oats, which were in moder
ately active demand at higher prices.
New billing corn brought around
a cent more than it did yesterday,
while the old billing stuff did not
scare quite so great an advance.
Oats sold up ic to J4c, the bulk
going at J-jC advance.
Wheat did not begin to move until
late in the session, when it sold at
prices ranging from unchanged to a
cent or two lower.
Rye and barley were nominal.
Receipts of corn were liberal and
those of other grains light.
Thess cash sales were reported:
WHEAT.
No. 2 hard winter: 1 car. $1.07; ears,
$1.08; 1 car, 96c; 2 cars. 95c.
No. 3 hard winter: 1 car, IJc; 1 car.
Ste.
Sample hard winter: 1 car. 6c.
No. 3 yellow hard: 1 car, 94c.
No. 4 yellow hard: 1 car, 93c.
No. 5 yelow hard: 1 car (musty), 91c.
No. 3 dark northern spring: 1 car, $1,10.
Ao. 3 mixed' 1 car ismutty), c
CORN.
No. 2 white: 4 cars (new billing), 40c,
No. 1 velow: 1 car (new billing). 40c.
No. 2 yellow: 7 cars (new blllng), $1.40o
1 car (no Willing). 39c; 2 cars (old bill
ing). 38c.
No. 3 yellow: 1 car (new billing). 39c;
1 car (old billing). 3sc.
No. 2 mixed: 4 cars. 40c; 2 cars, 39 c
1 car (no billing), 38c.
No. 3 mixed: 1 car, 40c.
Sample mixed: 1 car, 39c.
OATS.
No. 3 white: 3 cars. 30o; C cars. 30c;
I car, 30 c.
No. 4 white: 1 ear. 30c,
RYE.
No. 3: 2-5 car. TOc.
Mixed grain: 1 car (not wheat, 11.6 per
cent rye), 9lic.
OMAHA RECEIPTS AND SHIPMENTS.
(CARLOTS.)
week Tear
Receipts Today Ago Ago
Wheat 14 13 16
Corn 164 30 20
Oats 11 10 11
Rye 3 11
Barley 1 2
Shipments
Wheat . 18 4 50
Corn 79 9 11
Oats 8 7 11
Rye '. 2 .-. 8
Barley . . 1
CHICAGO RECEIPTS.
Today Wk. Ago Yr. Ago
Wheat 23 12 19
Corn 583 638 392
Oats 161 110 71
KANSAS CITY RECEIPTS.
Today Wk. Ago Yr. Ago
Wheat 57 258 44
Corn '. 87 40
Oats '.. 3 13 6
ST. LOUIS RECEIPTS.
Today Wk. Ago Yr. Ago
Wheat 37 31 104
Corn 82 77 M
Oats 12 19 '85
NORTHWESTERN WHEAT RECEIPTS.
Today Wk. Ago Yr. Ago
Minneapolis 74 96 245
Duluth 15 13 161
Winnipeg ...442 447 393
Liberty Bond Prices.
New York, Jan, 4. Liberty bonds at
noon: 3s, 95.00; first 4s, 36.40; second
4s, 96.10; first 4s. 96.90; second 4',i,
96.38; third 4s, 97.30; fourth 4s. 96.84;
Victory 3s. 100.02; Victory 4e. 100.04.
Liberty bonds closed: 3s, $96; 1st.
4s, $96.40: 2nd. 4s, $96.10; 1st. 4s,
$96.94: 2nd. 4s. $96 30: 3rd. 4s. $97.44
4th 4s, $96.80; Victory 3s, $100.06;
Victory 4s. $100.04.
JANUARY
Clearance Sale
800 pairs Fine Felt Shoes for
men and women, felt or sheep
lined, values up to $6.50, on
sale now at, (Q
per pair P ww
Rubbers Now is the time to
buy Rubbers or Arctics, best
quality on sale at, Qf
a pair 057C
McDonald Chocolates, Qg
per lb. .GOG
10-lb. cans of Corn QQ
Syrup OJC
Caps for men and boys, 1Q
on sale 1UC
24th and O St South Omaha
The Bee by Sidney Smith
1MI. Chlcafo Trlbvn Companr
Twl MAE
mic,T wri ,
A VausiA.
H UVt NWAS
MUV.- KtT
yiAX.-
London Money.
London, aJu. 4. liar (Silver -J4d per
ounrs.
Money 3 per cent.
Discount Rales Short bills, S U per
cent: three months Mis, 8 per vent.
Financial Statement
December 31, 1921 '
The Packers National Bank
Established 1891
N. E. Corner 24th and 0, Omaha
THE BANK OWES
Its Depositors
FOR THIS PURPOSE
1. Cash
United States Bonds 145,500.00
Other Bonds and Securities. 43,497.81
Overdrafts 1,627.39
Loans 2,499,279.22
Banking House 50,864.19
.3.
4.
Total to meet indebtedness . ....... $3,429,92 .'.96'
This leaves a SURPLUS $ 418,280.25
Which is our Guarantee Fund for our Depositors
We Have NO BORROWED Money
Upon this comprehensive statement we solicit new de
posits and retain those which have been with us for
many years. V
On Savings Deposits and Time Certificates We Pay
' I Per Cent Interest
OFFICERS.
JOHN F.COAD President
WILLIAM J. COAtf Vice President
H. C. NICHOLSON Vice President and Cashier
A. L. COAD ...
AMOS GATES
I. L. ADAMS
R.'B. RAINEY
Let Us
Grain
Handle Your
Shipments
to the Omaha, Chicago, Milwaukee, Kan
sas City, Sioux City or any other markets.
WE SPECIALIZE
In the careful handling of all orders for grain
and provisions for future delivery.
WE OPERATE
' Offices at Omaha, Neb.; Lincoln, Neb.; .Hastings,
Neb.; Chicago, 111.; Sioux City, la,; Holdrege.
Neb.; Geneva, Neb.; Des Moines. Ia.; Milwaukee.
. Wis.; Hamburg, la., and Kansas City, Mo.
WE HAVE
An up-to-date Terminal Elevator in the Omaha
Market with the latest facilities for handling your
shipments.
Updike Grain Co.
"The Reliable Consignment House"
OMAHA, NEBRASKA
U. S. Ualtlfeluji Colli.lfi,-; r
With Hritihh Srhooiief
I5oslt.n. Jan. 4 The', b.itrjrni.i
North UakoU rVwrtctl tv witnli.t
today that ht had ltn In tfurh.-inn
with the British achcHinrr ;T.
Kcntly off Cape C'hJ last nigli.
The battlfshin turnrj back to tlic
navy yard here tor repairs. Thr
schooner was said to be in need ot
inunediate assistance and the navel
tun Muhave.was ent out from hrre
No one uas injnrej. . .
South Side-Urcvilies
finrtM" OiiAt.T rtCltTAIM.V. VAflKf.T '
;a. "ut'Tll OMAMA It'li COMI'AW.
Ailverll.etn.nt,
When In tha market, rail MaiVrt OOm
and onlcr a ton tff our Market lump vtint
at f Ml sn. Ii'a good value. A. I.
BLK'IgUleT DOS. A.lvertl.ciM'.ut.
If saving a little . Ii week Is a pew
ida lu uu. votite In and let us e
plain our tti'iiitoiuy I'hrlelmas Havlnss
t'lub plan. Llveaiock National bank, Still
and N Bts.Adv,
Vhan opporluuliy roiiica ba prepared
with cash money to laka advanlsse af
sania by now opening, an I'icuiHuiiy Christ
mas having rlub account at the l.lv
mock Nnilonal Bank, Still and N street
Advertisement.
New York Dried frrtlila.
New Vork, Jan. fcvapoiat.d Ap'!.-
NoiiiIiihI.
I'rlinca julel.
.WrittFtrOnrFIECIO0KI Oi
MUNN 8$, CO.
Tnwsr nulMhir. CIMI'Aiid. 11. 1-sV-irlltme
American II Mr. WANIIIMITOV. P. ('.
Wimltvonli IIiiIMiik MAV MillK
Hubert lllilm, HAS KltAM IHl'll. I b.
. . .$3,011,047.71
WE HAVE:
689,159.3.1
Assistant Cashier
Assistant Cashier
Assistant Cashier
Auditor
I