Omaha Daily Bee Newspaper, April 2, 1894, Page 8

Views of au Omaba Business Man on a Point of Impor.ance. DO LLOYDS OR MUTUALS INDEMNIFY the Stock Company A by th ance Con- Differences Betwaen Protection and that Assu (nterins trasted with Co-Tusurance. ed Mareh 30.—To the Bditor of The Bee: The writer 18 glad to be able to note the advanced position taken by The Bee upon all matters of commercial and financlal importance. The city of Omaha has ¢ a position sixteenth in rank financial center in the United States, and one of its main features, in a commerelal way fs the jobbing business transacted here. A mutter of Interest chant carrying a large stock of g the property owner, is that of nzainst fire, A large part of the merchant, or of a wercial wre usnally invested in merchandise migit be subject to be swept away in a sin gl2 honr by o fire, and a business man would no more think ¢ ovor right without insurance than of 1 lis store without locking the doors. Indempity against loss by fire may be to be of two kind First—That furnished b: fnsurnnce companies who issue policies of fnsurance over the signatures of their offi- cers and through local agents located in varfous trading points. Th local agents recelve from 16 to 25 per cent of the entire premiums charged commission, which fs deducted before company receives any part of such premiums. Second—"'Lloyds,” “mutual” or “individual underwriters,”” whose plan may be explained later on. The Bee columns have Qiscugsion of insurance from the stand- point of the old line or stock companie who have not hesitated to pour their vials of wrath upon the heads of merebants who have to do with, or who are acc any indemnity of the so-called “Lloyds,” or “mutual” companies. The attention of the writer has also been brought to a ecircular Jetter of Mr. Eugene Moore, state auditor and insurance commissioner of Nebraska ling attention to these ‘“mutual” or “Lloyd” companies doing business in the state, stating in a very painstaking way the fact that parties accepting these policies do 50 entirely at their own ha. and without ability to enforce their presumed contracts under the laws of this They (Lloyds or mutuals) are illegally within the state, and they can have no other motive than’ thus encourage, by their cladestine foraging, to get all with as little risk to themselves as possible, contraband schemes that promise all In the name of insurance, but furnish no indemnity,” ete. The commissioner also’ cautions insurers against being “‘victimized,” and goes on to say that parties transacting business In Ne- braska “‘must be protected and encouraged against the bushwhacking concerns that aeither contribute honesty of purpose nor Indemnity to their patrons.” ON THE OTHER HAND. This all bears the ear marks, if you please, ier of the local agent himself or of the manager of the old line company, and was, no doubt, proffered by some agent or com- pany whose business has been seriously in- fringed upon by some one or more of the “Lloyd” or “mutual” concerns, It may be K matter of information to the insurance commissioner, as well as the local stock company agent, to know that “Lloyd” in- surance has been in force in various parts of Burope for more than 200 years, and that it was, in fact, the original method of in- surance, and for decades before the organi- zation of stock companies was the only indemnity furnished. It may also be a matter of information to %uow what are these “Lloyds,” or mutual fusurance companies, and 1 will endeavor to explain: Twenly, or fifty, or perhaps 200 merchants go into what may be called an Inter-insurance contract, employing a man- ager, or attorney, to whom the proper au- thority s given to bind or obligate them for a limited amount, say $200 or $500 each on the risk or plant of each of the other sub- gcribers to the contract, putting up a guar- antee fund of $1,00 or $2,000, as may be agreed on, in cash, to cover possible losses, One of the largest and oldest of these con- cerns now has 200 members, each of whom insures all the others, so that a $10,000 policy on any one risk entails an obligation in case of a fire a total loss of but $25 on each sub- seriber; a $1000,000 policy makes each sub- scriber Hable for $500. These Individual, or mutual, contracts for insurance consist, as a rule, of the leading firms and heavy property owners in the various cities, and in most cases are parties whose bank credit is almost unlimited. The assoclation referred to above consists of about 200 members, ten of whom are among the leading jobbers of Omaha, has been in business for thirteen years; writes Insurance at local board rates, and has, since its organization, written about $1,600,000 of premiums; sustained losses (and pald them promptly in nearly every case within ten days of the date of the fire), amounting to perhaps half this amount, the balance, less & nominal expense feature for conducting the business, being returned to the policy holder. The cope of these organizi limited. In the first place, as noted above, only individuals or firms of the highest commercial standing can become members; only the very best class of physical hazard business is solicited, and that not outside of the larger cities with thorough and- efficient fire fighting seryice. In other words, the very best class of business, the paying busi- ness, if you please, is gradually eliminating itself from the old line companies, thus de- preclating their revenue without so much depreciating their lability to loss, and going into the hands of the mutual of “Lloyds,” or inter-insurance concerns, WHY IT IS NECESSARY. Perhaps it may be well to rehearse sbme reasons for the original organization and building up of these concerns: First—The dificulty of large insurers in obtaining a sufficient amount of good insur- The 1893 Spectator Official Index pub- the returns for 176 American insur- ance companies besides some foreign com- panies. Perl one-fourth of these are #uch as a discriminating business man would not' care to have represented among his policies. The balance will not assum: a risk on any ordinary hazard in excess of say $300,000; but what s the merchant or company to do for indemnity who carries a stock of $500,000 to §1,000,000 for additional insurance to cover his stock? The most natural thing in the world might be for him to propose to one or 100 of his neighbors to inter-insure with them for say $100 to $500 and thus is made up these individual underwriters, Second—The profits of the Insurance busi ness: A great hue and cry has been raised old line insurance people, particularly during the last few months, of the unfavor- able results of last year's business. Let us call the attention of these insurance people to banks, trust companies, mercantile rporations and firms, and to their business for '93, and allow me to say that the con- cern among all these making a satisfactory return on the investment from the business of '93 is a rare exception to the rule. Last year was the year of the panic (which we are glad to say only occurs in this country once in perhaps two decades). Railroad companies have defaulted thelr interest property investments have become unpro ductive; the mercantile hazard of the in surance business has greatly increased, and it would be a great wonder, indeed, if in surance companies had in the aggregate been able to keep even during '83. What are the facts with reference to the insuranco business for the past series of years? The Spectator (Insurance journal) is acknowledged authority in insurance ters. This journal reports for 1893 American companies. Of this number paid their customary dividends during 189 and during the seven years prior thereto, or since 1880, of from b p:r cent to 30 per cent on their cash capltal, which, by the way, in most cases was partly made up of profits of the business, and was not actually paid in cash capital at the start. Of t twenty not paying dividends, a consider ble number earned them, but preferred to leave them in their surplus account, and the the balance was made up of new companies OMAHA aln paramount to mer- W8, oF to protection seets of a corporation which good going g calamitous said old line or stock as a the sen open to some fons is quite the calied to a single ins profits of the insuran will give HOW ONBE A western Insura In 1865 with $100,000 which one-fourth ‘was paid in which Is all that has ever been cash, the other three-fourths rep wo-called recured stockholders' notes state law at that time admitting this form of organization. This company paid to its stackholders during 18 id every year prior thereto for seven years, with one ex ception, a cash dividend of $0,000, or 120 per cent per annum, 10 per cent per month on their original and total investment. In addition to this they have since 1865 accumu fated a cash surplus fund in excess of all liabilities of more than ten times the amount of their original investment, Let m add here that of the 166 companies reported as dividend payers, besides the cash divi dends pald, they have in nearly every ca accumulated very largc funds, and the current market willshow their stock in worth 100 to 500 per cent above par because of their earning powers, It fs true that a number of companfes have been forced out of busi ness during ‘02 and '93, and others have had to use part of their surplus to meet current losses, but I maintain that this is to be ex ted in the very nature of things Third—Saving In expense of management The Spectator figures show the aggregate cost of management, including local agents’ commissions, and office adjustment expenses ete,, to be a trifle less than 40 per cent of the income receipts of all the American companies, that s, it takes (wo-fifths of ali the receipts of the companies to pay the expense of transacting the business, In none of the “Lloyd” companies of which the writer has knowledge is this expense feature allowed to be more than 20 per cent, this belug the Itmit in the original contract, and in very many of them the expense is lim- ited to 15 per cent or In other words, the entire expense of the “Lioyd” concerns fs very much less than the bare local agents” commissions for the old line com panies, which fs deducted before a_dollar of the premium reaches their home offices, The saving In this feature alone wiil amount In a series of years to a handsome dividend to subscribers and members of individual com- pan ‘ourth—Elimi A prominent nee business, hig the which COMPANY GOT RICH. organized capital, of ash, and pald_in ting the company pretended ns tses to be n of the moral hazard Insurance adjuster said to the writer: “If we could absolutely eliminate the moral hazard from our risks we might be able to reduce our premium rates one third and make money by the operation.” Individual underwriters practically climinate the moral hazard from all of their risks, and their consequent liability of loss is reduced to one-third or one-half because of this elimination. WHO AFFORDS Fifth—Unsatisfactory adjustments of the old line companies: The point is raised by the local agent, or old line insurance man, also through the circular of Auditor Moore referred to above, that “these contraband schemes promise all in the name of insur- ance, but furnish no indemnity.” One of the principal features of old line insurance business is that of being able to effect a favorable settlement by the company on a loss previously incurred. Perhaps this is a business proposition, and we will admit the imposition practiced on the old line com- panies in the matter of claims for the settle- ment of unjust loss A case In fact may enable us to explain this clearly: A friend of the writer was’ interested in a small factory in a Massachusets city, the plant of which cost them and was valued at $45,000, and were doing a successful money making business. They carricd $30,000 i suddenly had a disastrous fire and a total loss; took a careful inventory and found after liberal allowance for sai- vage, all that could be hoped for provided v rebuilt, that their net loss was $30,000, In due time a dozen expert adjusters gathered and inspected the ruins for per- haps an hour. They then went into secret session at the office of the best hotel in the city, remaining there for two days, and then calling in the managers proposed that the would pay them $10,000 in settlement of their loss. They exhibited no figures and declined to give any facts, or reasons, as to how this estimate was arrived at. They would pay $10,000 and no more. If this was not satisfactory they might bring suit against them and the matter would be determined in court. This led to a wrangle which lasted for six or eight weeks. The fact was the people were under the expense of about $200 per day of fixed charges, and while they had bought for a series of vears and paid for $30,000 insurance, they were obliged to accept $10,000 in settlement of their loss, although incurring loss to full face of policy. In other words, their in- surance cost them three times as much as they thought it had. 1 will make the bold statement, which I believe to be susceptible of proof, that there are very few district court dockets in the United States which do not contain today one or more suits against old line insurance companies, brought by policy holders who have sustained a previous loss, but who have not been able to get a satisfactory adjust- ment. I am familiar with the affalrs of most of the “Lloyd” concerns doing business in this country, and I do not know today of a single contested loss occurring on the policies of any one of them. In the thirteen years ex- perience of the company referred to at the beginning, but one contested loss has oc- curred, and this was admittedly fraudulent, and the old line companies declined to pay for the same reason (on the part of the in- sured), because they were carrying more In- surance than their books showed they had merchandise on hand, and they themselves could scarcely reasonably expect a prompt adjustment without contest. In this case the insured declined to allow an investiga- tion of their books. They refused to arbi- trate the loss, and refused all reasonable propositions for settlement, but rather than Eo into contest of the matter, the subscribe forced their attorney to settle at what was, no doubt, an imposition to themselyes In this single case. Sixth—Recent material advances in pre- mium rates: This may be given as the chief reason for the recent organization of a con- siderable number of Lloyd companies, and this fact will be the reason for the organiza- tion of a very much larger number. There is need for radical reform in insur- ance method The chief reason for the abusive and scurrilous, as well as uncalled for, attacks of the old line companfes on what may be called the new line is that the shoe pinches. Old line companies and will continue to lose, in ure than heretofore, the v their business, both as to physical and moral hazard, It this radical reform in expense in doing business, moral hazard, unsatisfac- tory adjustment of moral los is not brought about, the old line companies will be forced cither to reinsure and go out of busi- ness or to go into insolvency. What com mercial business would now exist it 40 per cent of its entire receipts were exhausted in the cost of transacting the business? If, as has been admitted In old line circles, more than one-third of the losses occurring are dishonest ones, what companies can long withstand the drafts to cover these losses? Who pays for this? And, if they know it, how long will they continue to pay for it? One of the chief features by way of increas- ing this moral hazard has been a stringent policy of the companies of late years to in sert what, is called the 80 per cent co-insur ance clause. It used to be the > that we insured for 40 or 50 per cent of the value of our merchandise and carried the balance of the risk ourselves. Now we are compelled by the companies to insure to the extent of 80 per cent, or, failing to do so, become co- insurers for the difference. What merchant knows to a dollar the value of his stock on hand, or where the 80 per cent strikes, and whether he Is more Insured or less? If more, and a fire occurs, his reputation is gone. If less, he must bear the risk him- self, although having paid the companies to carry it. It is a device which brings into disrepute insurance and insurance methods, and there are certainly valid objections to it on moral grounds, It is a premium on dis honesty. It compels overinsurance, and over- insurance leads to incendiary fires I believe that entirely insufficient atten- tion by the old line companies Is given to the moral hazard, both of the insured and of the agents. It ought to be the policy of the company not to allow overinsurance in the first place, rather than the present policy of soliciting as much insurance as can posibly be obtained, carrying it and col lecting premiums on it from year to year. and, in the event of a loss, using every endeavor, honest or questionable, by depre INDEMNITY. best part of T | vt IE OMAHA [ JATLY BEE: MONDAY n hand or of bulldings, low 1 which it is the business of r to keep posted; jeopardize the » parties sustaining losses by holding out settlements and every other such | to make it appear that the property | owner has overinsured his p ty, and for no other reason than to defraud the com- pany. Legslation ance 18 being ) Rock against Lloyd or Interinsur- asked for In New York state and elsewhere, but not by the public These new line companies were authorized, and the laws under which they were authorized protected their policy holders. These were demanded by the public. The present de- mands are procipitated by the old line com- panfes themselyes, who find thoy are grad- ually but surely losing their grip on their best business. ALL RECTOR. RS e OHICAGO GRAIN MARKETS. Features of the Trading and Closing Pric CHICAGO, N The mild weather and the reports from the country that whe: had received no damage whatever from the recent freeze caused that cereal to rule weak nd to close from Y than it did ye: nd oats were to Bye lower erday. The corn ex- y dull and inclined to weakness. Pro- visions were weak without any wavering of that feeling. Wheat opened strong but not very active at from 60%c to 61 for May. The local crowd had at that price a great many fives and tens of long wheat, with from $6.25 to $12 profit and that on the bul side proved too strong a temptation for the average scalper to There were also many changing orders in the way of the selling of May and replacing it with July and September, prin- cipally into the latter delivery at from 3%c difterence, narrowing during the operation to de. Counselman, Day, Adams, Samuel, Gifford and Schwartz-Dupee were the most active sellers of the May opening. Many of the selling orders were said to have come from New York. The market turned immediately after the opening and in a little more than half an hour May declined to 604c, or %« below the highest point at the start Chicago receipts were 23 cars; Minne: 182 cars and Duluth, 88 cars the receipts for Friday, which was a day, and Saturday were reporied togethe and amounted: Chicago, 33 cars; Minne apolls and Duluth, 1,15 Bradstreet's reported the week of flour and wheat from both coasts at bu., against 2,343,000 bu. on previous week. Since January 1, 33,943,000 bu., compared with 41,755,000 bu. for the corresponding period of 1893, The market continued to rule weak during the greater part of the remainder of the session. Thet was a rally to 60%c, and then a gradual fighting decline to 60%c, with a sale or two as low as 60c. The closing trades were at from 60%c to 60%c. The corn market was again very dull, and the price fluctuations, as for some days past, were largely influenced by wheat. The mar- ket opened firm, at 37%c for May, and before the firm feeling evaporated 37%c was real- lzed for one or two fives. When wheat dropped off there was a corresponding move- ment in corn. There were temporary ral- lies of %e from the bottom price quoted, but the continued weakness prevented them from sticking long at a time. Only a fair amount of business was trans- acted in oats. Sellers were in the majority, and with their offerings and the weakness in corn and wheat, the price fell off from e to %c on near futures. The more re mote deliveries were comparatively firm. The market for May opened where it ended yesterday, at 81%e, sold down to 31%c, and closed at that price. There was less activity in provisions, and prices were generally on the down grade. The run of hogs for the first part of the en- suing week were expected to be liberal, and that was given as the reason for the weaker feeling. The day's recelpts were 23,000 head, instead of only 15,000 head, as had been talked of yesterday, and that gave the market. ils initial decline. The longs were credited with supplying the most of the day's demand. The more radical weakness which followed did not develop until the end of the session, in which pork sold at $1.50 and closed at §$1.52%, against $11.821¢ at the close yesterday. Lard wound up at $6.77 compared with $7.07, and ribs at $5.92%, against $6 yesterday. Estimated receipts for Monday: Wheat, 26 cars; corn, 200 cars; oats, 260 cars; hogs, 34,000 licad. The lcading futures ranged as follows: “Articles. | _Open. | Hig Wheat, No. 2 | March...... B9% 61ig 6236 365 i :h\k"'fll 813 308 284 treme tst exports the T3 bRle 60 613 | 363/ 373@| a8y 584 FE S w | 30M@3 2834 _RER S Pork per bbl May. . ‘ July. Lard, 100 1bs| March......| May....o.. July,."! short Tubs~ | May ! July....... | Cash que LOUT WHEA (tions were as follows Quiet and 30%e; 2 white, 32%@d L @sac. 2,49 2, nominal; N s1@sse; No, . $1.33, Time, 14,25 Distillers' finished goods, per gal., hanged, vere the receipts ana shipments for today Articlen, Recoipta. | SHTpments. 000/ 1 9,000 4000/ i K.000 112000 194000 10,000 10,000 106000 174.000 | 37,000 410001 luco exchange toduy the nd unchanged. Oats! bu Rye. bu.... Barley, bu On the ket was steady strietly fresh, 9ig@1 Minneapolis Wheat Market. MINNEAPOLIS, March 31—Recelpts of wheat todiy were 115,200 bu.: shipments, 25 810 bu. iy ground dbout 120,000 bu., making o dist bution of s 000 b, more than the receipts for the last twenty-four hours. The demand for canh wheat was of the usual character, and Kiies averuged about e higher than the sales of Vestorday, although ‘the close was lower than the' cloxe of the p Ay prices were higher than the he ' market el July, 6lc 1 hard, about tons Dy o apolis i against 1,2 year 1 ! sponding this week week probibie tnat be a_decr uniry elevator some S0,000 bu, Milla were grinding ut t of ‘about’ 30.000° bbls. for the” twenty-four hours as some of the large mills that were fdle i portion of the tmo during the fore part of the Week were running today. Shipments of four were 20,452 bbls. today. Flour shipments for the Wweek Were 140,660 bDIs., against 187531 bbix. in the same woek a year ago. There. 1§ a decroase 100,468 U, In public elevator stocks this weel ere was an active demand tor flour all week 4 wales Luction. auot : s balkers, $1.8062 10, s of S%e; May On ' track 1 northern, 81 No, recelpts ther rain Markots. WHEAT- Closed_highe March, G%c; May, (24 Duluth March wsh DULUTH, ). 1 hard, Tuly, Bie; N B8c; ‘May, 01 2 northern, On March 2 ted, i it RYE_ 4230 FLAX 313 BARLEY OAT ) . 3 white REC 00 b5 shipments none I Grain Market PEORIA, March 81, —CORN—Actl lse; NO. 3, 80K TS Trregular No. 2 No. 3 white, 3154 RY E-Nominal WHISKY - FFltm No weak; white 114652140, h wine basis, $1.15. RECEIPTS—Wheat, 3,000 bu.: corn, .00 bu oats, 19,000 bu.; rye, 1,000 bu.: barley, 7.000 bu IPMENTS - Wheat, 1,000 bu.; corni, 12,000 bu ts, 77,000 bu.; rye, none; burley, 14,000 bu. 'Frisco Wheat Quotations. SAN FRANCISCO, March 81— WHEAT May, $L.11%; Decomber, $1.114. —-— Wo could not improve the quality it we pald double the price. DeWitt's Witch Hazel Salve Is the best salve that experience can produce, or that wmoney can buy, OMAHA l‘l\'E,S‘l"()t‘li MARKETS Week and Month Cat! with Good Supply of d Hogs, DEALERS WERE “ RATHER INDIFFERENT Liberal Offerings {gide Them a Chance to Shado Prices_a Little on All but Best Grades—Hogs Close Steady ard Strong, SATURDAY, March 31. and month close with liberal supplies of both eattle and hogs. Receipts for both the week and month show a good Increase, compared with last week and last month, as well as with a roago. The following table gives receipts for the past week, month and quarter, with comparisons Cattle The week This w Last w Last ye March February March, Three Three 186 months months, Decrease .. Increase The cattle of the week celpts were markets were both dressed zood market during the was in very good ® rather liberal, but higher and the weath beef men and shipp On the ordinary run shipping steers prices advanced 16c to up to Wednesday, and there was very nearly that much advance on butchers’ stock and ners. The three Monday, Tuesday and Wednesd really the first glimpse of sunshine men have ad in months, It could not and did not last very long. Receipts increased smartly the latter half of the week, and prices gen- erally declined about as fast as they ad vanced, and the close of the week finds the heavy cattle and the common light and half fat stuff dragging along at prices as low as they have been at any time during the past five years. Now that Lent is over, there seems to be a slightly improved demand for beef, and for this reason the handy light steers that are wanted by both killers and shippers are selling perhaps e and 10c better than at the extreme low time, ten days ago. Dealers attribute the unusually heavy receipts of the past few days to th anxiety on the part of farmers to get their cattle into market before April 1 to avoid the assessor. This is a very foolish pros ceeding, but it is repeated every year with unvarying regularity. The market was doing all_right until these tax shirkers dumped thelr cattle by the hundreds, and this caused the break, losing shippers many times the cost of the taxes. DEALERS WERE INDIFFERENT. Today’s liberal supply of cattle was ex- ceeded but three times during the entire month. Receipts for the week have aver- aged over 3,000 per day and this will account for the rapid disappearance of the advance made during the early part of the week The market was very uneven. Conditions locally were much the same as they have been lately, but all classes of huyers seemed to manifest more than the usual amount of indifference today. ~As a result only the tidy, fat, light and medium weight stecrs sold at anything like steady pr Other grades ruled weak~to 8c and 10c lower and trading was dull @nd, dragging from the start. The cattle kept selling, however, speculative shippers and oulside butehers got more cattle than the local contingent thought they would and in thelr efforts to fill their orders the market rather firmed up late in the forenpon and by 12 o'clock there was little of Any consequence unsold. There was also an easier tone to the mar- ket for cows and mixed stock. Offerings were not at all excessive, not over 25 loads, and there seemed to be a very fair demand for the stuff. Local houses have been free buyers all week, and while they were will- ing to and did pay about steady prices for the good, fat cows and heifers, it took shaded prices to move the medium and com- mon stuff. The market for veal calves was tolerably well supplied, but there was no difficulty In finding purchasers at fully steady prices. The same was true of the market for rough stock generally, and while the trade was not particularly active, the odds and ends were pretty well picked up before noon. Business in stockers and feeders is never very rushing on a Saturday, but it was un- usually dull and weak today. The liberal receipts of the past four days have over- stocked the market and anticipated the demand somewhat. Prices held up fairly well until within the past day or two, when yard traders became decidedly more anxious to sell than to buy, and in consequence of the restricted country demand prices have declined 10c to 15c on all but the best grades, The week closes with speculators’ pens full of cattle. Good to choice feeders are quoted at $3.00@3.40; fair to good at §2.75@3.00, and lighter, commoner grades at from $2.75 down. HOG VALUES WELL SUSTAINED. The hogs came in pretty freely this week, and contrary to expectations and predictions prices were well sustained as a rule, in fact average values were pretty close to 15 higher than the week previous. The week's supply was the heaviest so far this vear, 43,744 head, or 22,000 more than last week and 19,000 more than for the corresponding week last year. From a variety of reasons the speculative markets shaped wup better, there was a good export movement and an excellent fresh meat demand. Looked at from any standpoint, there was more to en- courage manufacturers and holders than for some time past, and hence the renewed actly- ity and consequent advance in prices. Local houses continue the principal and frequently the only buyers. Shippers took less than 7 per cent of the supply the past week. Prices have been too high for them, anywhere from 5ic to 16 higher than Kansas City or Sioux City, and as a consequence they have had to depend on those places for thelr supplies. Today's supply, 151 cars, 10,474 head, was the heaviest since the latter part of June, 1893, a period of over nine months, and the quality was as good as it has been any time during the past fortnight, Sellers looked for a lower market, and while there wag a good array of buyers in the fleld, four packe three shippers and several speculators, the roceipts of over 10,000 hogs and the lower markets east enabled buyers to get their hogs a shade easier early, but the active competition and free buying by all classes soon caused trade and prices to pick up and the general market was not a great deal lower than Friday. The top, $4.60, was about a nickel lower, but the bulk went as they did on Friday, at $4.50 and $4.55, the general market averaging up a little over 1¢ lower. Ou last Saturday the hogs sold largely at $4.50, SHEEP ARE HIGHER. Receipts of sheep, with the exception of Friday, have been wnusually light all week and with similar conditions prevailing else where prices have ‘taken a sharp turn fc the better of pretty. close to half a dolla early part Re- as eastern r cool were buyers, of beef and 20¢ days, made cattle APRIL 2 91, be There the demand from all sources fs than it has been for many months were no fresh receipts today and nothing here to make a market. All local houses were wanting desirable muttons and lambs, and prices were nominally firm at the recent advance. Fair to good natlves are que at $3.00@4.00; fair to good westerns, 3.76; common and stock sheep, $ %ood to choice 40 to 100-1b, lambs at $: 4.25 and RECEIPTS. AFFTE | WOG | SHEED [HOUNER A Wi Cars. | Head |Cars | Head |Cars, |Hoad | Cara. | Head 145 3.208] 15110874 DISFOSITION e WUV ENS, CATTLE. | OGS, KUEEP Omaha Packing Co. Th H, Hammond Co Swift & Co The Cudahy ¥ John P Squlr Nelwon Morris A, Haas. R Becker & Degon P, D. Armour Chileago P, & P. Co Shippers and feeders. ok g 00, & 00, ottt 10,510 ket, RUTTER cholc mude the cholee roll 1605 packing HGGS Al late there 1etly fresh IRESSED 3t fow in ‘market, but what slght advance turkeys, 961 Tnferior stock would 8 10 ducks, i the whove flgure LIVE POULTRY ot % fir ing chic ters, A falr domand There is . Adess ) staggy stock Awse; old commands better prices; good, thin or heavy, 30 HONEY fat white clover, 15 n Jugs $0.50. 10¢ tend, $1.00G1 Medium ndard : counts, 1. ltall Ihallsh wiln e; D Imond Targe ¢ bbl., 80 per Bbi ubi fder. per Dbl $5.60 half bhl ERKRAUTPor bbl., $§ VEGETABLES, TANS—California hand-pick 2.00; wes $1.7501.80; beans, 1 5 halt bhl Oregon, 8190 white quoted on orders at 80c; grown potal 5e; same in from &t rdc 10, $1.0001.10 tra fancy' California, o TOF ok cucm i exg plant, per oz, seauliflower F1.70: nsparagus, per doz., L TINGe: | currots, per doz. Aoz, 900 $1.00; water cress, per Florida tomatoes, per 6-b, FRUIT are but fe is 1 pples on the g Lo oranges, APPLES-There RANBERR S e« season 18 ry over wid most of the e sl i k, and prices are ruling . per bhl, $7; bell and bugle, ALIFORNIA ORANC The A nll around and anothy a0 in April. Riverside Ttiverside Washington navels, $2 lings, Redlan navals Passedenos and excelsiors, navals, seedlings, $.00. TROP m Tl o Rediind AL FRUT “The bunana trade ble change small to me sing, bt buneh, BANANAS there Is no quof ib.. 15¢, @ to 70-1b, TURS. black, large, $20.0072 dium, $15: small, $8.00010.00% blick $12.00g16.00; medium,’ §10; small, § Turke, $8.00GN.00; medium, $5.00@. ) ; Black: Montana and Rocky' mountair $18.00622.00; medivin, $14; small, $10; b tana_ vearlings, large, $12; medium, 5; black Montana cubs, large, $6.00; small, $3; silver tip, A 1, '$8; silver tip 'y i sit sl $5; silver tip cubs, large, 36; 0; small, $3: brown, larke, $20.00% miedium, $16; small, $12; yearlings, large, 00; medium, $8; small, $6; cubs. lurge, 6; small, 33 badger—No. 1, large, small, Soc; fisher ull, $4; according to’ beauty—No. H0: silver, pa medium,” $30; ‘small, iim.E 38 amalle ey +wmall, $1; & doc; kit large ancy, per DATES - Halowees, BEAR-No. 1 00 i Mon® §8; small, ‘medium, medium, 38 34 25.00; $10.00m $1.00G1.50; Targe, 38 to color, large, mink, mail, porfect head and feot, No. 1, mperfect wkins, o ottel medium, $6.0007.00; small, $5 medium, small, . '80c; medium, 60¢; small! uty, N large , No. 1 lurge, $1 striped, lary small, rrow striped, lar broad striped, large ge, $1; mediim, 31 1 lar large, m, 40c; small, } wolverine, No. 1, $2; wolf—mountain, small, $1.60; prairie, ‘60c: small, G0e; beav s 5.00; medfuim, $4.50: $2; medium, $1.50 I, 750; muskrats wiinty o1 large, ib@lic; medium, Se: small To; full, lurse, 8@dc; medium, c; small, Gc; Kits) large, HIDES, TALLOW, ETC. 1 gieen hides, 2%e; No. 1 hides, 20@3c; No. 2 green’ salted No. i veal calf, 8 1bs. 0 15 1bs,, Gl calf, 8 1bs. to 15 1bs., b . 1 dry 'No. 2 dry_flint Bides, ‘3¢; No. cured hides i salte 16020} greon Nides No. flint 1 dry per b, n salted, 2 shearlings — (sh 150; dry shearlin, early ‘sking). No. 1, each, 5g10c (short-wooled early” skins), No fint, Kansas and Nebraska b per ‘b, actual wefght, and Nebraxka murra tual 1060 ; onch, 2370c; t-wooldd early 8 (short-wooled shaarlings salted Hking), cad actunl murrdin wool pelts, pér Ib., actual AND ( allow, No. 1, . 'white A ASE 194G Bide; old butit @I8C; vough tullow Stoux Clty Live Stock SIOUX CITY, March 81—HOGS head: shipments, 700 head; mark $4.40014.50: bk, $4.4 CATTLE Rebely hewd; mirket lins, 2 o Stock In Sight., the recelpts at March 31 Cattle, 100 head; shipm foe h we, $1 i bulls, The following i the foar prin clpal eities Suturdiy Sheep South Omaha Chicago Kannas Cliy St Louls 4,000 To! 48074 4500 We Offer You a Remedy W hich Insures Safety to Life of Mother and Child, Mothers <« “Mothers’ Friend” Robs Confinement of Its Pain, Horror and Risk. * After using one bottle of * but little pain, and did not experience that weakness usual in such cases.—Mx: Moruers' Frienn,' I suffered afterward GacE, Baxter Springs, Kas. Sent by express, charges prepaid, on l’tll.l‘pl of price, $1.50 per bottle. Sold by all Druggists. Book to M BRADFILD REGULATOR CO., Atlanta, B: others mailed free~ Milk Pans, and pails, and cans, and bottles (even baby's)--or any- thing that you want particularly clean, ought to be washed with Pearline. ] You'll save work in doing it, and it's a great deal more thoroughly done. Dairies and dealers use Pearline extensively. Just try it once, on your milk-ware or butter-ware—and then say if it isn’t the most satisfactory way of cleaning. Pearline is the most economical thing you can use, too. You get so much more out of it. Y SR Dt e L s i and if your grocer seuds you something in place of Pearline, be it Back honest—send it back, 805 JAMES PYLE, New York ine." . “We are a band of brothers.".— Il'ar Song. xon's line- who Thee is now no North, no South, no Mason and D that there was has been proved a mistake. The very were €0 mistaken unite in saying this The Century War Book will anew the three decades ago; will not create answ rank prejudices; will not create anew bitter memories. The purpose of the book is to strengthen our unity and incite us ter citizenship, broader sympathies, greater love Senator White, ot Louisiana, himself a Confe otfic now Associate Justice U. S. Supreme Court, in his speech in the Senate July 21, 189%, voiced the sentiment of the South in these words: aen not create issues of to be erate ““Whatever may be the conception as to the mistake of our opinions, we all concede that the mighty arbitrament of war has decided that they were wrong. Thank God even the ashes of that conflict have passed away. [ know the American people have forgotten it, except for the lessons which it has taught us all, that within the walls of the constitution, and by adherence and respect for it, united in a common brother- hood, lie alone our future hopes of happiness and protection.” To this same spirit investing its pages the Century War Book owes its popularity. It is a book for every American. It is a book for the G. A. R It is a book for the S. of V. It is a book for the Loyal Legion. It is a book for the Woman’s Relief Corps. : is a book for all Ex-Confederate Army Posts. is a book for every American citi= zen—white and colored, is a book for Every School Boy and Girl. This new people’s edition will be complete in 20 parts. It con- sists of the famous papers originally published in the Century Magazine. It It onroux o ur wxre wassacHoaRTTS. oM 4 FHOTOGRAYR. It IT IS PRACTICALLY FREE TO ALL WHO ARE OR WHO WILL BECOME READERS OF THIS PAPER . . . . . HOW TO GET IT: Or page 2 of this paper will be found a War Book Coupon, 4 of thes, coupons of different dates will, when accompanied with ten cents, entitl the holder to Part No. 1 of this book. The whole work will be com plete in about 20 parts, hound in heavy paper covers; a now part will be ued each week, and coupons will be printed daily until the series is complete. Any 4 of these coupons, with 10 cents, entitles you to any issuo or number of this bok. ; FOR CITY READERS—Bring coupons, together with 10 cents, to office of The Omaha Beze, where you can obtain Part No. 1. Part No. will bo ready next weck, and thereafter parts will follow weekly. FOR OUT-OF-TOWN READERSMail to War B3okaDopart- ment, Omaha Bee, coupons and 10 couts in coin. Be particular to (1) state the number of the part desired; (2) your name and full addvess; (3) in- close the necessary coupons and 10 cents. The part you request will be sent, past-paid, to your adlress. “DIRT IN THE HOUSAE BUILDS THE HIGH-~ WAY TO BEGGARY.” BE WISE IN TIME AND USE SAPOLIO —— e OWE R mom GASOLINE 3 > DIRECT FROM THE TANK. CHEAPER AN STEAR, No Boiler. No Steam. No Englneer, T POWER for Corn und Feed Mills, Buling Hay, Running Separators, Crenmeries, &c 01TO GASOLINE ENGINE. Stationary or Portable, 1to 50 1, Py Bto20 H, 1 Send for Catalogue, Prices, ete., desoriblug york (o be done, IOTTO GAS ENGINE WORKS, 334 & Walnut Sts,, PHILADELPHIA, PA, The LEHIGH WASHER The BE: Chicago, 245 Lake St, ~ Omaha, 107 S, l4th St. latest, cheapest and best family machine made. Does the work in half th Iits any tub. No Id ¢hild time—hetter than by hand longer than a wrin A 12-year can run iv easily LEHIGH WASHER GOMPANY, It your merchant doesn't keop it write to us OMAHA, NEB. i6 BARKER BLOCK, =+ » = A