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The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Liberty Bonds
WEEKLY GRAIN AND
PROVISION REVIEW

Chicago, June Ending of the
big May wheat deal of 1922 has
made this week a notable one for
the Chicago Board of Trade. After
a struggle which had lasted for
| months, spectators who believed
that scarcity of supplies would
force a big advance in prices here
this month were finally driven TO
abandon their positions. The sur
render brought about a swift 10c
break in prices, and wheat this
morning, as compared with week
ago. was Il C to sac down, corn off
lie to INC, oats varying from &c
decline to &c advance, and provis-
ions unchanged to sc lower
Instead of the predicted scarcity,
immense shipments of wheat glut-
ted the market here, and it was es-
timated that, $4,000, 900 bushels of
wheat had been piled up in Chica go
elevators or in loaded cars on rail-
road side tracks within the city
limits. The spectators striving for
higher prises had exercised their
prerogative of demanding actual de-
livery of wheat finch had been con-
u 4O1, anu bCA4CA . AS0A0 LAiCl4A-
selves compelled to make extraor-
binary efforts before it was appar-
ent that the assumption of an end
Of-the-season scarcity was after all
without sufficient basis of reality.
Emergency rules about car lots
deliveries of wheat here were in
yoked, but otherwise the board OF
trade functioned as usual, and moth
ing came of suggestions that an
arbitrary settlement price should
be fixed by the boards directors.
After the memorable May delivery
was over, indications of better Eek
port and milling demand helped to
restore the market to a normal
basis, with the crop outlook lead
ing factor, and special notice being
taken of news about black rust IN
Texas.
Corn prices reflected in some de-
gree the downturn Of the wheat
market.
Oats were steadier, helped by a
good shipping demand
Increase OF the stock of lard
here checked any advance in the
value of provisions.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Street Features
BIZ STUART p. WEST
tCopyright. 1927
BIG TRADING In or

Tnere were no Developments in
the oil trade situation to accoun+
LOT the big speculation in oil shared
mnIcn Kept on today. Popular mag
NATION had been caught by the e9-
,Maordlnary ease with which stocks
IKE Sailfornia Petroleum and pa
enc OIL had been marked m in Fri
days session. A ready following
accordingly was attracted to man.
on stocks which showed. signs Of
getting under way. Traders who
mad made quick profits in Califor-
Ma and Pacific switched into other
members of the group. In conse-
quence the two leaders of YESTERDAY
DroKe sharply. while Sinclair, Mar
Iand, Union, Cosden and ROYAL
Dutch were rising.
BURNS BROTHERS.
A better appreciation of the posi-
tion OF Burns Brothers B stock as
regards dividends to be paid this
year and in years to come brought
a rush OF buying orders into the
mar et today and these carried the
stock into new ground above as.
An increase in the dividend rate IL
- at the next meeting of the board
Oh directors is entirely probable.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Il|L. SHARES ARE
SHOT HIGHER IN
EXCITING DAY
BIZ STUART p. WEST.

UaII Street, New York, June a.
rwas another Gay of excitement on
10 stock exchange, a repetition of
- markets OF previous days, but
iii trading setting an even swifter
nace There was no Disgusting the
All that. flushed with success, the
wall street pools were carrying on
,seir campaign in the same reckless
tanner that they were in April. AS
Tas the case two months ago, the
certer of speculation was the oil
shares. Fridays violent upbidding
n stocks like California Petroleum
sad Pacific Oil was followed this
rornfng by less sensational but
asyertheless fairly rapid advances
4 other numbers Sof the oil group.
while these new leaders were being
mshed up on enormous transac-
lions. the stocks of the Pacific Com
uauy we're heavily sold.
Ali through the list, there was the
same sort of conflicting price move
menfs as there was in the oils. A
core or more of specialties were
brought to the front while heavy un-
losding was going ON in the fav-
erites of other days. Shares of
eoal companies coal companies were
actively bought in some instances on
favorable dividend prospects and in
others in anticipation of an early
ending of the coal strike The stocks
II can manufacturers We're respond
Ing to reports Of good business and
Increasing earnings. The merger
craze swept some of the low priced
rails especially the Lake Erie &
Western and Wheeling & Lake Erie.
Sugar stocks were very strong at
the opening but later was not prom
nent. While these and various
other chosen issues were moving
forward, the general list, while it
did not yield ground gained little or
nothing. These are the character
stics of a market in a highly specu-
ative day.
The market ended with quite as
many losses as gains. Prices came
iown quite generally in the last
garter of an hour, and the close
vas unsettled but not weak.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Bond Market
BY STUART P. WEST
tCcpyrzght. 1927

New York, June 3o.-The puhli-
cation Of the Atlantic Fuit COM
pany's plan for the readjustment of
debt capitalization contracted a
five point jump in the percent de-
benture bonds today. They were
only couple of points below their
high for the year. Under the plan
which has been submitted to the.
stockholders the deposit of the de-
benture bonds before July is called
for, and according to an official of
the company, the adoption of the
plan Is q necessity. A deficiency
for 1921, $1,72S,744 was reported.
In the railway section OF the mar
ket the Peoria and Eastern in
comes which had such a sharp up
turn Friday afternoon, advanced to
a new high price for 1922. The Erie
convertible DIS gained over a point
and the New International and
Great Northern adjustment 6's
which were floated this week, were
very active at about 81 IL as COM
pared to yesterdays low of So Is.
The General Railway list was
strong. especially in the speculative
quarter, with some irregularity
among high grade mortgages.
Greater New York Traction bonds
were fairly steady, the INTERIOR
ough SIS crossing 60 and then
dropping fractionally. Industrial
issues moved unevenly. American
Sugar SIS were up about half
point, U. S. Steel SIS were firm
around 102 and Distiller Securities
went up about a point.
Liberty bonds were active at yes
terday's closing level. United
Kingdom 5 1-2's of 1922 and 1929
reacted slightly. Czecho Slovakian
SIS when issued advanced, while
Mexican As and SIS lost ground.
Following a month or more of only
moderate activity in the New York
market Canadian Provincial bonds,
the volume of trading increased
late this week and there was a
greater demand for these securities.
Manitoba SIS of 1928 were 80 bid
offered at 80 1-2: the SIS of 1880
were 100 liz bid, offered at 101
and the 6's of 1916 were 1O6 1-2 bid,
and 107 IL asked. Ontario SIS of
1923 were 100 IA bid, and 100 .3-4
asked; the 6's of 1880 were 100 Ia
bid, offered at 100 "a: and the 6's
of 1943 were 107 bid, offered at
.107 ga.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
ALLLWESTOCK
PRICES DROP
DURING WEEK

q. S. Yards, Chicago, June a.
Nearly all kinds of livestock show
lower values for the week. In. the
cattle alleys best grades were lit
tie unchanged, but palmer sorts of
cows dropped more than Csc during
the period, with little chance for
recovery next week. A week ago
today top hogs sold at $110o,
while choice lots went at $1075
today All kinds of lambs showed
a big decline for the week with
heavy ewes as much as $50 Off
Receipts today were estimated at
1000 cattle, $500 hogs, $500 sheep,
and 800 calves.
CATTLE.
No prime steers were offered to-
day Sales of medium and plain
animals were made at unchanged
price levels. but the trade was of
little account, as big killers had
more than 600 of the estimated run
forwarded from other markets.
Good steers show little change from
a week ago. Sellers were inclined
to call best grades strong at the
close with top lots quoted at 800
@9.25. In the cow pens anything
selling below SIS showed a decline
of 25@50 cents for the, week.
Calves gained SO cents during the
period.
HOGS.
Demand for hogs was slow today
Choice light butchers went at a
gain of sc over the average of the
day before, but heavy sorts were
again hard to sell. Good $50 to 800
pound hogs sold at 10.40@1045 aft
er. the first rounds, while choice
light stock went at 1915 or nickel
above yesterdays best point. Near
ly $4,000 were held over from yes
terday and many were again I'M
sold today The market was
weaker later in the day. Light hogs
closed &C lower than early, with
rough packing hogs below 500 at
a 10000 lower market.
SHEEP.
Nearly all of the estimated $500
were direct to packers, and the
market was only nominal one.
Compared with week ago, lambs
were quoted 75cQ$1 lower, best
springers being placed at S14.75.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
FINANCIAL NOTES

New York, June 3.-The Standard
Tank Car company has been award
ed a contract for building 700 new
cars for the Atlantic Coast Line
railroad and has also obtained an
order for repairing 1,100 box cars
and gondolas for an eastern road.
The net profits after charges of
the Maxwell Motor for May are I'M
derstood to have been between
5000, 900 and 100000. June prom
ises to be as profitable for the
company as May April and May
earnings more than covered the
full years dividend of s per cent
on the A stock. Sales last week
were the best in the history Of the
comapny.
The Western Electric company
has declared an initial quaorterly
dividend of tx per cent on the
preferred stock payable June 80 to
stock of record June 16.
May sales of Packard Motor cars
aggregated $6,900,00O. June pro-
duction is averaging so cars day.
1t is predicted that for the last half
of the fiscal year ending Aug 81,
1922. earnings will be sufficient to
wipe off early losses and show net
profits for the year of about p per
cent on the common stock.
The postponement of the annual
meeting of the British Empire Steel
corporation has given rise to ru-
mors of plans for increased plant
improvement or possible amalga-
nation with some American steel
interests.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
WEAKNESS IN
GRAINS MARKS
WEEKS CLOSE
dc Consolldated 80

by Consolidated Press.)
Chicago. June 3,-The feature OF
the wheat market was the extreme
weakness OF July and that de-
livery is now at a discount under
the September compared with 7-sc
premium the night before. Bulls
have lost confidence in their posi-
ton and the lack of demand was
just as much responsible for the
decline as the liquidating pressure.
The selling of July was of such
character as to lead the trade TO
believe that cash wheat holdings
were being hedged There was an
attempt 20 revive the black ='-
scare. but the failure of the market
to reflect these reports yesterday
soon discouraged the tendency. The
wheat harvest is on in southwest
ern counties of Oklahoma and this
tends to assure the trade that the
crop is too far advanced to be hurt
Returned visitors to the millers'
convention at Kansas City say the
Kansas crop is good one and es-
Inmates vary as to the yield. rang
ing from 100 900 600 to $50 200, 000
bushels. The demand for cash
wheat is quiet. Receipts are light.
Exporters were bidding Ice over
July I. o. b. Montreal for number
u hard wheat. Purchases of ESQ.,
600 bushels of new wheat to arrive
were reported. Market closed &C
to 5 rs cents lower; July 1.l5m
II rs; Sept. LIS 1-2@3-S; Dec.
Ills 1-8Q18
Corn was weak There was
liquidation in evidence and houses
with cash connections sold. Shorts
were the principal buyers. Wealth
er has turned more favorable for
the crop. but some reports of an
uneven stand were being received.
Receipts were heavy in volume A
slight Improvement in the domestic
shipping demand WAS noted. Market
closed 1c to 1 SIS cents lower; July
so 3-407-Sc. Sept S. 3-4@5-8;
Dec. 81 1-Sc.
| Oats also were weak and lower
on selling by local and iiquida-
tons. Armour bought September
and sold December at 2 lac differ
ence Cash demand was slow.
Market closed lie lower: July
81 Lac: Sept. 80 1-se; Dec Il 3-Sc.
Trade in provisions was confined
to lard. This product was easier
with grain. Lard closed sc lower
and ribs sc to LOG higher.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Curb Market
BY STUART P. WEST
Copyright. 1872

New York, June 3. - Dealings
were large on the curb exchange
today and the market was firm
Profit taking, which is usual on
Saturday, was encountered from
the floor traders, but the offerings
in most instances were well alb
sorbed. Independent Oil shares
took the lead. Mexican Seaboard
was in active demand and touched
a new high record before realizing
sales caused a recession. A new
top was also made in Sicily and
Marland and Mexico was a feature
with a sharp advance. Mutual Oil
and Fensland were firm. The
Standard Oils were less active and
advances were confined within
smaller limits than recently. Stand
ard Oil of New York, Standard Oil
of Kentucky, Imperial Oil of Can
ada, International Petroleum and
Anglo-American holding firm.
Interest in the miscellaneous
group was confined mainly to the
issued stocks. North American
Steel was in heavy supply and
broke sharply, despite the support
ing orders which had ben put into
the market Tobacco Products was
frmer and rose a fraction. Glen
Alden coal and Goodyear pre-
ferred were higher. The radio is
sues were irregular, Dubilier hold
ing steady while Radio common
was heavy. Motor stocks showed
only small changes. Hudson and
Packard were firm, while REQ was
easier.
Bonds were in fair demand and
steady. Freeport, Texas, Is were
again in demand and reached an
other new high record.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Chicago Potatoes

Chicago, June 5 - Potatoes:
Strog; receipts 80 cars: total Unit
ed States shipments, $50 cars; Wis
consin sacked round whites, 1909
1855 cwt; Michigan sacked and
round whites. 1.5501.70 ewt; Idaho
sacked Russets, 2.00@2.20 cwt
New stock: Strong; Alabama
sacked Bliss Triumphs, No. 1, 800
@3.15; Louisiana sacked Bliss Tri-
umphs, 2.S503.10; South Carolina,
sIat-barrels, Irish Cobblers, No. 1,
500.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
BUTTER MARKET
WEEKLY REVIEW

Chicago, June 3.-Butter markets
were unsettled during the week and
price declines occurred, although
at the close the tone was firm and
the price tendency upward. There
is an increasing interest in buying
for storage purposes and a good
consumptive demand Closing prices
80 score: Chicago, 35 cents; New
York, 35 cents; Philadelphia, Sc
cents; Bostor, So cents.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Weather Forecast

Illinois and Indiana: Generally
fair tonight and Sunday, moderate
temperature.
Wisconsin: Somewhat unsettled
in north, fair in south tonight and
Sunday; warmer tonight in south
west
Missouri: Fair tonight and Sun
day; slightly warmer tonight in
west and north portions.
Iowa: Fair tonight and probably
Sunday, slightly warmer tonight
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Kansas City Cash Grain,

Kansas City. Mo. June Cash
wheat: No. hard, 1.1501.45; No.
2 red, 1.17@1.19.
Corn: No. 2 white, 551ke; No. 3
yellow, SIC.
Oats: No. white, 38Ac; Ne 3
mixed, 36@37c.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Chicago Produce.

Chicago, June 3.-Butter. higher;
receipts, 21,731 tubs; Creamery ex-
tras, 35c; first, 31Q34c; seconds,
26x30c; standards, CSC.
Eggs, steady; receipts, 23,121
cases; firsts( 23x23A: ordinary
flrsts, 21h @22c; miscellaneous,
221 @22Ac; storage packed extras,
Csc; storage packed firsts, 241kc.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
BANKS SHOW INCREASE.

New York, June 3.-The actual
condition of the clearing house
banks and trust companies for the
week shows that they hold $26. 641,-
ITO in excess of legal require
ments. This is an increase of
$8,017,730 from last week
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
tRy the Associated Pres
LiUe Stock
Chicago Livestock.

Chicago, June 3-Cattle: re-
ceipts, 1900. Compared with a
week ago: Beef steers, strong to 10
cents higher; better grade beef
COWS and heifers. steady; lower
grades and Gamers and cutters, %
to 40 cents lower; bulls, IS to so
cents lower; veal calves, Is to so
cents higher: stockers and feed
ers very scarce. Weeks extreme
top yearlings in load lots as;
eight head strictly prime expert
mentally fed yeariings, $50; top
heavy steers, $40; weeks bulk
prices beef steers, s.10Qs-75;
stockers. 6,75Q7.s5: meaty Wis
consin feeders. s.2a6S.60, butcher
she-stock, 5.5o9735; Gamers and
cutters. s.25@4.35; veal calves.
e.75910.25.
Hogs: receipts, $500; opened
strong to cents higher; On a few
loads choice lights; later the early
advance lost; mostly stead to 10
cents lower than yesterdays aver
age on light and medium weight
butchers; mixed hogs mostly
steady; top, 1875; early out of
line; 1910 practical top: bulk
f0-50@10.60; packing sows, Is to
% cents lower; pigs, steady; pack
ing sows. smooth, 9.3809.50; rough
8.S0@9.25; killing pigs. 9.25910.50.
heep: receipts, $500; today's re-
ceipts, practically all direct; mar
ket nominal; compared With a
week ago: Fat and feeder lambs,
rs cents to $1.00 lower; yearlings,
Dafharx and handy FAT aUaS IN m
Use lower; heavy ewes, S1.00 to
$3.50 lower; weeks bulk prices de-
sirable spring lambs, 15.50915.00;
yearlings, 8.00@10.25; ewes, 2-o09
700.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Toledo Seed.

Toledo, Ohio, June Slower
seed: prime cash 1875; October
Ills; December HOO.
Timothy: prime cash 2.70; Sep
TENDER 3.15; October $40.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
CHICAGO FUTURES
Chicago Cash Gram.

Chicago Cash Gram.
WHEAT.
No. 2 hard. lit.
No. 5 hard, lie.
CORN.
No. . mixed, 591s U59A.
No. 5 mixed, 59u o9t2.
No. 4 mixed, S..
No. 2 yellow, 59s4 16012.
No. 3 yellow. 5s05911.
No. 4 yellow, 5S1a.
No. o yellow, $751; Q57A.
No. 2 white. 60@601s.
No. 4 white. 5Sk @5SA.
No. 5 white, 5712 @5s.
No. 6 white. 81 4.
Sample grade, 54.
OATS.
No. ? white. 374 GAL.
No. 3 white, 3614 Q3S12
No. 4 white. 35A@36%.
OTHER GRAINS.
Rye. No. 3, 961a.
Barley. 60@70.
Timothy seed. 4.0005.50.
Glover seed. 12.o0Q2000.
PROVISIONS.
Pork, nominal.
Lard, 1925.
Ribs, 12.5o013.00.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Flour.

Minneapolis, Mimi, June g.
Flour, unchanged to 10c higher;
family patents, 7.s0@7.S5 per bar
rel in 98-pound cotton sacks.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
80 COO. 600 For ROADS.

Washington, June 3.-The senate
and house compromised on a propo-
sition to make $4,000, 900 available
for continuing federal and state
cooperation in road departments.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03
Foreign Exchange.

Ia M O0AN ~ SASoA- -
change, steady.
Great Britain: demand, 4.47A
cables, 4.48A.
France: demand, 9.12.
Italy: demand, 5.21.
Belgium: demand, 8.43.'
Germany: demand, .3612.
Holland: demand, $3.50.
Norway: demand, 1877.
Sweden: demand, 25.95.
Denmark: demand, 21.83.
Switzerland: demand, 1912.
Spain: demand, 1880.
Greece: demand, 4.22.
Poland: demand, .0212.
Czechoslovakia: demand, 1.95.
Argentine: demand, $3.50.
Brazil: demand, 1887.
Montreal: so Is.
Silver.
4 New York, June 3.-Foreign baI
silver, .71A; Mexican dollars, .5412
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03

All the news all me r.ma-Tne
Argus.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-06-03

New York, June 3.-Foreign bar
silver, .71A Mexican dollars, "a ".
Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1922-04-13
Description Fits Him.

Charles Gibson tells us of a down
and-outer who came into the railroad
Office with tale of woe, not long ago,
and tried to work him for transporta-
ton out Of town.
II came to Cleveland with good
prospects three months ago." ex-
planned the unfortunate one. ~
thought could find a good position
with a certain company on account of
the work I'd done in my own town In
their line. But they didn't know any
thing about me, and they turned me
down. ! took my letters of introduc-
tion to another firm; same result. l
was some pumpkins at home, but they
couldn't see me here. / didn't have
no pull. Then tried the railroads.
j useter work in the deepo back there.
But in Cleveland. they didn't seem
TO think that amounted to anything.
/ wantG go back. Now. as l said, /
useter be u railroader. Could git a
passT
My dear man." explained Mr.. Glib
son kindly, "the law allows to give
passes TO nobody. There's no excep-
tion-nObody
That's mel" cried the derelict.
"Gimme the pass l"-Cleveland Plain
Dealer.
Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1922-04-13

Pink Lady's Slipper, or Pink Lady foR
short. That sounds very pretty 1
think
"'All right, Pink Lady, smiled Efie
Elf.
"T am eager to hear the story she
said.
ga day or so ago. said Pink Lady,
"a bee came along and asked if he
might have a little meal.
az told him he could have all the
meals he wanted to have and so he
came In, and had a gorgeous meal in
our best banquet hall.
"'He came in from the sloping side
entrances which we have on the way
to the banquet hall and he thought it
was a beautiful place with much rich
food.
"'Then, when he had had enough
he wanted to come out again. At
first he thought he was in trap, for
he buzzed away and couldn't seem to
find his way out.
"'But after a time he saw the two
llllIC nan lISHlo L DCyOlu
banquet hall. They are really little
openings at the other end of my pas
sage-hall which let the light shine
through them into the banquet hall.
"'He followed these lights and came
along the narrow, narrow hall of mine
and as he walked along he had to
push his way through and the sticky
decorations 1 had along the way, the
sticky curtains and so forth, caught
the pollen he had on his back and
head which he had brought from an
other Lady's Slipper flower.
"'You see we have this way of help
ing each other along and the Bee does
it for US but with a great deal of help
from US and suggestions about how
he should walk out of our banquet
hall.
"'Then he goes through another Lit.
tie passage way and gets some of our
pollen to take away with him to one
of our relatives who gets it from him
as he leaves her banquet hall just
as did,
"'What an interesting story said
Effie Elf, and what fine way you all
have of working together, though you
are separated from each other"