Omaha Daily Bee Newspaper, December 25, 1894, Page 6

THE OMAHA DAILY BEE: TUESDAY, DEC MBER 25, 1894 OMAHA LIVE STOCK MARKETS preeders Anticipate Christmas by Staying Away from the Lecal Yards, ONLY A HANDIUL OF CATTLE OFFERED flayers Fall Over Each Other to Get the Meager Supply at Sharply Advanced Prices—flogs Also Searce and Higher for the Day. rs MONDAY, Dec fhe supply was light today, on all told, a small run even for a Monday, and in all probability dub to the fact that on Tuesday the yards would be closed, There were hardly enough cattle on sale to make a decent showing, but conditions were such that the trade made up in snap and strength what it lacked in volume Dressed beef men have n pursuing a hand-to-mouth policy of late from force of elrcumstances, and any shortage 'n the re- ceipts an advance, any surplus occasioning Just as rapid a decline. Sup- plies today were light, none expected Christmas, and no very great receipts an- ticipated for the balance of the week a result, buyers all wanted cattle, local men and shippers, and the few here quickly changed hands at prices averaging all of 10c to 16¢ higher than Saturday. Bus- iness was decidedly brisk while it lasted, and by the middle of the forenoon dealers were through for the day and ready for Christmas, Only thre o or four loads of cows were offered, Falr to good butchers' stock sold strong to 10c and 16 higher, but common canners ruled slow and weak. Veal cilves were in p pply and about steady, and bulls, stags, ete., sold at right around Sat- urday's prices Business i ers was slow., Although supplies were tolerably liheral, there was no urgent demand from any quarter, and prices shaded lower on all ex- cept perhaps the good heavy ttle, such as stillers buy. Good to feeders are quotable at from §: fair to good at from § from §2.25 down. Rep DRESSED BEEFR, . pr. 1226 $4 00 120 4 10 Av. P 110 83 1047 No. 1 11000 N TI1) 200 240 L1300 1 70 STAGS. 00 235 STOCKERS 200 2 710 5 Lo © 838 ND FEEDE g 16,00 646 1800 687 TERN CATTLE. Na. 35 tecders. . 1 bull [ 12, 260 3 No. 4 feedors. 57 steers, Av. 904 1610 9 cows..... 7 feeders. .. 5 feeders. ... 13 steers.. 4 bulls. . 4 feeders, 15 feede 1 steer. 6 cows Willlam MeReynolds. 670 190 cows&hfs, 971 SOUTH DAKOTA, les Bates, 1cow.... 1 bull 17 cows. 17 feeders.... 740 2 25 HOGS—One-fourth of today's very moder- ate arrivals were from Sioux City, billed di- rect to a local slaughterer. Including state lots, there were less than 2,000 hogs on sale, and the quality was poorer than it has been for a long time. Advices from eastern markets were not at all reassuring, but With such light supplies and prorpects good for light receipts all week, the packers wanted hogs, and soon had them bought up at prices strong to a_nickel higher than Saturday. The range of prices was com- paratively narrow. Hogs of fair to pretty £ood quality, weighing around 200 Ibs. and upward, sold at from $4.15 to $4.25. There was nothing choice or at all toppy In the ards, The light and light mixed stuff, oads welghing around 150 1bs. and upward, old at from $1.85 to $1.15. Sales were pretty well scattered out between the extreme ranges of $.85 to $4.25. There were quite a good many pigs and Yorkers on sale, and as the demand was slack, prices shaded lower, poor to -1b. stuff sell- ing at from $1.60 up to $3.75. On Saturday $1.10 to $4.20 brught the bulk of the offer- ings, and iast Monday the hogs sold largely at from $410 to $1.25" Representative sales: No. sh. Pr. 200 34 1 G T 2 160 80 860 200 120 120 0 ) 4 i 4 i 4 4 4 4 4 — B esonan Gpm=sg o EP—None fresh were received and was very little stale stock in the pens. The demand was of a rather indiffer- ent character and the market was quotably weak at last week's decline, to chalce natives are quotable at from $2.25 to $2.75 falr to good westerns at from $2 to $2.60 common and stock sheen at from $1 to 2. 00d to_choice 40 to 100-1b. lambs at from .50 to $3.75. CHICAGO LIVE STOCK. Good Cholco Dressed Beef and Shipping Steera Sold Higher. CHICAGO, Dec, 20.—Good cholce dressed beef and shipping steers sold higher. They were scarce, and although In active demand, #alable at an advance of from 15¢ to C pared with last W esday’'s prices rade show a galn of from 25c tc I8 not ge ally ther o con recelpts. Local witnted tle, and the cann'ng demanl L abie, holders of common stock w more th unload at last week's cloging prie Cattle that 1w, good enough to sell for more re scattering, the average quality on, Thore were ply up to 82 all the trade clation In m Bood 1o best ale hogs enough to bring the sup- 000 head, and that o ty w squired, for there was no app: values, Good heavey “and medium welghts sold rather strong, but lght hogs and common grades, of no matter what, wer really turned over at Saturday's prices shinping demand was small, and s tomorrow Wil be observed at he pack'ng houses as hol- iday, the local demand was lighter than it otherwise would have been. New good heayy hogs were offered, and while best grades wer uoted around $4.70, there was compamtively Attle business at over $4.55. From $440 to $4.65 bought the bulle of the lots averaging over 250 bs. and from $4.15 to $4.30 were 8 most frequently pald for light welghts. There w many sales of 1ght mixed siuff from $3 ¢ was dull About, n ihe market, Of left_over from last week. tely active, and anything were quoted at from 0 to $3.60, the bulk seiling from $2.50 to 3, 2%, mbs were quoted at from 32.2 to #, and the majority of sales were at from $3.23 (o $3.15. at 4 readily Kansas KANSAS City Live Stock Market. CITY, Dee, 24-CATTLE-Receipts, L1700 head; shipments, 700 head; market b and 15c higher for Lest; others steady Steers, §2.2003.25; Texas 1 stedrs, $3.15¢5.40; natlv ind _feeders, §1.9063. 40, head: market weak, G100 low I i light, .90, Yorkers, $3.60 G390; pi $3.00413.05. SHEEP--Recelpts, 1,200 head; head; market stead; Stock In Sight, Record of receipta at the four princl kets for Monday, December 2 184r Cattle. Hogs. ients, 600 bulk of sales, shipments, 200 A Gy Bi Touta. .- Yotal...... New York Live Stuek Market. WY NORK, | Do 84— EEVES Tiecelpts 100 head; on sale, 8 cars: opened slow, mosi 0 higher; native steers, poor 10 good, on_sal poot to Tammbe, ‘sa.fog 1o, HC Recelp: 475, B weak at $4.409 OMAHA GENERAL MARKET, Condition of Trade and Quotations on Staple and Fancy Produce. BUTTER-Packing stock, 8¢; fair to good coun 10G12c; choles to fancy, 14g16c; gathered . 19G20c; separator creamery, 21622, fresh laid, 18c. POULTRY~O1d _hens, ducks, 6c; turkeys, LIVE chickens, tor DI cholce larg 4aive; 6e; spring ; heavy LTRY—Chickens, ; cholee smal. good, o heayy ducks, falr 'to good, 60 to good, 6@7c; fancy, S GAME-—Prafrie chicken grouse, per ¥ doz., $1.5001.75; @1.50; ducks, 1 A@Athe; turkeys { cholee small faricy, $c; gees 8 per blue wing Ereen wing teal, pe , per doz., $1.00G1 $4.00015.00; mallards and red heads 5 quall, $1.25@1.35; deer saddles, untelope. saddles, 7@10c; small rabbits, ibits, $1 L—Cholce fat and small veals are quoted ©; large and course, 3qAc SE-Wisconsin full cream 19¢; twins, 12%c; Nebraskn and lov He; Nebraska and Iowa, part skims, burger, No. 1, 1lc; brick, No, 1, 11¢ 1 12 1261 15c sack 0 CHY Young A full cream, isc; Lim. wiss, No. 15¢ HAY—Upland hay, $9.50; midland, $9; lowland, 18,50, rye straw, $. Color makes price on | hay.' Light shades sell the best. Only top grades bring fop_prices PIGEONS-01 birds, VI Western per doz., 80G90C, TABLES POTATOF stock, small Tots, OLD 1 Lima beans, per I ONIONS-On orders, CABBAGE-On order i Y- Per dor. SWI POTATORS Muscatine, 8. il ! lots, $1.90G2.00; car Hand-picked, navy, + grown, $2.5042 T bbl, $2 Por bl §: WER-Per do H P Per hbl Per bl r doz. bunches, DbbL., 2. rib., e, Per bu., $1.26@1.35. loz., 0. 35e. Por s Per bbl., $1.50a1 FRUITS SPINACH QUINCT PEACHE PLU PRUN PEAT 1 stock $3...0613.5 ncord, none. 68-1b. " bbls., gross, $0.00429.50, CRANBERRIES —Jorseys, TROPICAL Florid groening Malagas fancy, $10.60 per bbl. 150, 1768, and $2.96, neh, per 12,00 fan M hox, 00174, 25 0, APPLES—None. MISCELLANEOU IXL, Sc; medium, extra rds, company 20c néw ERS or can, 10c; horseshocs, Toe; extia s New York ‘ Bxtra fancy, 16e; fancy, 13c; choice, HON W York, 10-1b. cans, per ib., 10 YRUP—Gallon_jugs, per doz. onds, Tie; English walnuts, shelled, 12c; standards, 10¢; filberts, 910 razil nuts, Sc; shellbark hickory nuts, per bu., $1.506 2,00;' large hickory nuts,” $1.2 ney raw ed peanuts, ER KRATT—Cholee. whit MINCE Stec; 1 litornia, 16c; NUTS-Al soft- in half bbls,, ondensed, per case per Ib., of § A0z ifish and perch, 6c; buffalo, 7e; crop- 12¢; black' bass, 20c, per bbl., $5.50; hdes, 3ic; 7,8 0 15 Ibs., bo; 2'dry flint_hides, part cured hides, d, . 1 diy flind hide No. 1 dry salted hides, © per Ib, less than fully SHI) BLTS—Green salt hort wooled i dry shearlings (s each, 5@10c; y' skins), No. Kansas and Nebraska ctual welght, braska murrain weight, 4@6c; dry pelts, per Ib, Colorado mu; welght, 4@ TALLOW buither wool 8c; dry fiint ool” pelts, per Ib., actual flint Colorado butcher wool ual weight, 4@0c: dry flint wool pelts, per ib., actual Tallow, No. 1, 4@ 4%c; tallow, No. 2, grease, white A, 44@ 4l grouse, white ;_grease, yellow f grease, dark, 2L@3c: old butter, wax, prime, 17G@2c; rough FURS—Beéar, bl No. 1 medium, $15; black, yearlings, Ny medium, $10; No. 1 No. 1 largy No. 1 sm e, ' $20.00325.00; . 1 small, $8.00@10.00; bear, . 1 large, $12.00015.00; No, 1 mall, §7; bear, black, cubs, $6.00@8.00; No. 1'medium, $5.00@6.00% Il, $4; bear, ‘black, Montana' and Rocky mountain, No. 1 large, $18.00G22.60; No. 1 medluni $14; No. 1 small, $10; bear, black, Montana yea Iings, No. 1 medium, $8; No, 1 #mall, $5; bear, black. Montana cubs, 'No. 1 large, $6.60; No. 1 medium, $1.50; No. 1 small, $3; Dbear, silver tip, No. 1 large, $20; No. 1 medium, ' $12; No. 1 smail, $8; bear, siiver tip, yearlings, No. 1 large, $1i; No. 1 medium, § No. 1 small, $5; bear, silver tip, cubs, No. large, $6; No. 1 'medium, $4.50;: No. 1 small, § bear, brown, No. 1 large, $20.0032.00; No. 1 medium, $16;' No. 1 small, $12; bear, brown, year- lings, No. 1 large, $10.00@12.00; No. 1 medium, § No. 1 small, $6; bear, brown, cubs, No. 1 larg 8 No. 1 medium. $5; No. 1 small, $3; badger, No. 1 large, $1.0041.50; No. 1 mediim, 60c: 1 small, 5c; fisher, No. 1'large, $%; No. 1 medium, $6; No. 1 small, $4; fox, silver, as to color ording to beauty,” No. 1 lar N edium, 360; No. 1 small, $5; cording to beauty, No. 1 medium No. 1 small, $2 1 fox, cros: lnrge, No. 1 small, 1 medium, §1 . 1 large, . 40c; fox, kit, No No. 1 small, $ic; 6. 1 medium, $2; No. No. 1 large, $2 No. 1 large, sall, $1; 1o 1 medium; pale, No. i 1 small, $4; P No. i m Ge} black, s to beauty, black, cased, narrow 0e; No. 1 large, medium No. 1 med -1 large, ) BOC@E2.00 1 lurge, 5005 N skunk, broad 1 mediu triped, 20@2 3 00476.00; beaver kits, 1 small, . 1 large, muskrat fum, e 1 large, 4@6c: No. 1 medium, 7c; .1 small, 6c; muskrats, kits, 2G3c, NEW YORK GENEKAL MARKET, Closing Quotations on the Principal Com- modities und Staples , NEW YORK, Dee, 24.—FLOUR-City mill pat- winter patents, city mill clears, T straights, L05@3.70; winter nesota ' bak 5, $1.700 spring’ extras. mmon (o fa extra, 82,406 superfine, tlour, qufet; BUCKWH CORN 118 32 : spring low $1.85@2.35. South extra, 3L80TI2. 40 Rye’ flou fancy $1.80211.50. T—Dull; §.524G5.90. MEAL-Quiet; yellow western, Brandywine, WHEAT—Spot, eley G600 @ 1" “northern, : No. 1 'hard, T0%e delivered. Options were quiei during the 'day.’ but ruled higher on 500,000 by on pissage reported big export p oy lay, 1,000,000 bu. ‘incrense and flour exp@ts, crop was D No. 2 red, ruary, ' closed 61%c; My 62 5-10462 $2.80G:8.00. Buckwhed $1.166 ana . b, 61% delivered au 2 red, in stor afloat, 614@6Y4C; 1. in and_ esti- cent short, nuary, 69 0 CORN mixed, car lot ot G Junuary, closed 343 cmber clo ninal; boat loads Nominaily firm MAL net February 3bge: 1 RYE-No BARLE BARLEY state, common to choice, new, i Pacllic coast, 8. HIDES—Firm wet walt W Orleans, se- lected, 45 to Ibs.. 4%@bc;’ Buenos Ayres, dry, 12; Texns, dry, 24 to 30 iba., bls@ ‘mlock wole, Buenos Ayres, 144001454 estic fleece, 11G33¢; pulled, qulet: 19 %0c: , extra $16.0060 Cady; les, UG Mders, 6%sc; pickled hums, 83, w' closed at $7.10' nom 4 mber closed at §7.10 nom- uary, ¥7.10 nominal; refined, dull; con 7.86; ‘South American, §.80; compoun Pork, dull} new. s, $13.006113. $12.00G12.50; short clear, $14.006 1450, 10 PROVISION: beef hams, 17 1800, Cut ' me %c: pickled sh Lard, ‘st family. india mes: pickeld be tinent, B4 G5Ye western lon creamery. 12g18¢ ksl i aar®, SUlitc: ma, part akims, $%G8; full skims, 2@3c. EGUS—Firm, va Baltimore, bulk, .15, 6%¢ fean, $9. 21y 80m3ic Tk, hiladeiphin an: 66; Philadeiphia and Baltimore, in ROSIN-—Qulet; strained, common to good, $1.30 RPENTINE-Quiet Steady:” domestic, Japan, 1@ 1%c. MOLASSES Dl #00d 10 cholce, 29G4 ORANGES—Firm; @1.40, TU a1 RICH 5 fair . W extra, 4%4@ open kettle $.00G1.87 $10.00620.00; New Orleans, fancy, $2; others, per box, PIG_TRON 13,0 COPPER—Quiet; broke AD=Quiet; brokers TIN-Plated COTTON' 81 Dull; Scoteh, Amer- price, price, § 9%e. 5D O1L—Quiet; prime crude, 4@ oft* cru veliow butter grades, holce yellow, B¢ nomMal; prime yellow, i yellow off grades, 21%@23c; prime white, nominal STOCKS AND BONDS, a One of the Dullest Days of the Year in Secnritie: YORK, Dec. 24.—This was one of the dullest days of the entire year on the Stock exchange, and the speculative fra- ternity pald more attention to the Christ- mas merriment than they did to the buying or selling of stocks, There was a holiday crowd about the &treet and few of the brokers' offices made a pretense cf doing business, There was a general grumbling at the refusal of the governing committee the Stock exchange today, o for by the majority of the mem- , and for all practical purposes the ex- change might as well have been closed Only two stocks were traded in to an amount _ over 1,00 shares—Distilling and Sugar. The entite granger group figured in the transactions for only 800 shares, and General Electric had 7,600 to its credit. A slight reaction set in about 10:15 o'clock, but the speculation recoveréd 1ts tone, and by 1l o'clock the market had become firm again, The higher range of prices was not long maintained, and during the hour p ceding midday 'the ward. Toward ncon less pronounced and steadied jtself. A p NEW figures’ moved down- th krew he lually od of excitement and stagnation now set in, and but few changes of moment were made during the subse- quent two hous In the last hour the t 1- ing was irregular, but at the close a fairly stealy tone prevailed, the greater part of the ist, however, showing declines com- pared with the closing quotations of Satur- Ay, Bay State Gas and Cordage guaran: teed showing each a loss of 21 per cent, Bay State and Cordage and pre: ferred 3, per cent, Sugar prefe T per cent and Mobil Ohio % per few shares recorded advance including Delaware & Lackawanna, 1% per cent; Laclede Gas l‘)“"fl.’WL 3 cent and ‘Distilling and Hocking Valley % per cent, Rock Island is up % per cent, and St. Paul and Northwestern are down @' per cent respective 'he bond market today was dull and prices for the more spec- ulative issues were a shade lower. Some of the higher priced mortgages were in favor and a few of them recorded material ad- vances. The ' Post's London cablegram says: Money for settlement is dearer because of the end of the yea Contangoes on Ameri- 1 cent. There is a very All the stock markets were good today except Americans, and even these were firmer at the close. The boom in mines continues up to the very eve of Christn The outlook for the market after Christmas is good. Cheap money s likely to continue for some time to come and “activity in stocks Is expected, but Americans dare theught likely to revive very slowly. The following were the closing quotations on the leading stocks of the New York ex- change toda Atehiwon. % Adams Express... Alion, T H ... *do pld......0 0 Am. EXpress. ... Baltimore & Ohio. adu Pacific nada Southern, utral Pacitic Ches. & Ohlo.. *Chicago Alton. C. B.& 7 Chiteago Gas. ... Consolidated Gas. €., C., C. &St I Colo. Coal & Tron.. Cotton OIl Cert.... Delaware & Hud, Del., Lack. & W. .. D. &'R. G. pld. D. & C.'F. Co, ount. %4 Northwostern 1307 “dopfd...... 47 108 N Y.&N. E. Ontario & W... Orezon Tmp. 4|Oregon Nav. 0.8 L& U Pacitic Mail |*Pittsburg, 1%/ Pullman Pal 718 Reading.......... 132 | Richmond Ter. iy do pfd. 8" (R.G.W..... 24 |R. G/ W.pfd. 6% | Rock Island. ...} 244 (St. Panl ... s 82ig| “do pra...l 104/St, P.& Omaha ... do pta. .. . {Southern’ Pacific:, Sugar Rafinery. Coal & Tron, SE528552S, £ oo £ EFEL FEES Mo e DS A i a3 Pacfic.... §|T. £0. Cont. pfd.. Unlon Pacific. St U. 8. Express. K. &'T. pfd. W.SLL & P. Lake Erie & E Manhaitan Gon.. *Memphis &C.. . Michigan Cent.. . Missouri Pacific.. Mobile & Ohio.. Nashville Chat.... Natlonal Cordage, dopfd....... . N.J. Centrai... it et e Sy FREEEFER > fob: ;! No. Pac. pfd. do ptd.. § u.P. D &G The “total sales of stocks today were sha including: American_ Sugar, 12,400; tington, ~2.400; Distilling_and Cuitle 1,400; General Electric Paul, 9,900; Unite New York Monev Market. NEW YORK, Dec. 2.—MONEY ON CALL Basy at 1@1% per cent; last loan, 1 per cent t closed, 1 p 5 ANTILE PAPER—2%Gdc. PRIME M STERL CHANGE—Quiet and and at $4. with act 4.58% for demand, days. Posted ratis, $.85G1. relal Dills, $4563. SILVER CERTIFICATE GOVER P BONDS aquiet; rail heavy. Closing quotations on bonds were as follows: 08,78, 1175 | D. & &, G UL §. 68, coup. 117% | Erle 2ds., U8 s, ror. 113 G, 1 &6 A @4.57% and 4.8 1043 106 95 o4 do2d dn.......... *Mutual Uniion 6. N. J. 0. Gen. ba. *Missourl s N.C. 08.. N, . 48] 8.0 nonfund. ... Tenn, new et G, *Tenn. new set 68 “Tenu. old s Va. Centurios. | do deferred. Atchison ds.. 00 ISt L& LM 604 St L & S.F. G 123 Téx. Pac. 1sts, 63| do2ds.. ... L 17i U P18t of 0 1031 | Weat Shoro 4s... .. 1034g S0, R, R.. 1145l Canada So. 248 . P. 18t4 0f ‘90, D. & R. Boston Stock ) BOSTON. Dec. time loan, B4 pi slocks, boads and. m 17| Wostly 8ilig | W. Ele 91 | Wis. Contral. K76 | Atchinn 28 011¢| Ateliinon 4 208 | Now Engl! 35 |Gen. Eleotr atations, Sugar pid. | Hay Stato Bell T Hosto ny. Boston & Maino. do pfd...... C B &Q. Fitehburg. Gen. Elect Hlinols 8 Mexican Cent 0ld Colony. Ore. Short Li Rubver. 2 Union Pacif West End Sun Francisco Mining stock Quotatlons, SAN FRANCISCO. Dec. 24.~The official closing guiotations for mining stocks today were us fol- ow Al Alpha( Andes .. Beleher. Belle Tuie ... Hest & Boichier Bodie Con..... Bullion. Caledonia.. .. Challenge Con, Chollar e Confidence. ...\ Con. Cal & V...l Crown Poin Gould & Cury 88 “Kajourned until Wednesday. Tale & Norcross.. 03 10 B e At Overman. ...\ Potosl., Savage. rpion .. on Con’.... Utah Con...... Yellow Jaoket. London Stock Quotations, LONDON, Dec. 24.—4 p. m. closing: an. Pacific G0k (81 Paul co Erie...... 1044 | N. Y. Centra Erle 2dy U5 | Peunsy] 1il. Central © BB Readiug. Mexicanordinary. 14 CONSOLS—For account, 103% BARt SILVEER—27 7-160 per ounce. MONEY-156% per cent The rate of discou both short and New ¥or| NEW YORK. closing niining consols, for open market for bills 18 1-6d. tations. 4.—The following are otations the . 3| Me 40 00 820 10 Cholor. Crown Poiut. Co & Vi Gouid & Cliry /| 80 Hale & Noreross.. 60 apir.. Plymouth Sterra Nevada Standard. ..., Unlon Con. i state’ and Peanslyvania, 22 Joe Bouse, 16G10C; recelpts, 6,143 plgn.; Bouthern, AND LAMBS-Recelpts, 9,90 bead; ALLOW-Firm: city, 3%e; try, 4. PETROLEUM-Nomiu} %ufl\"&“c‘fu W Homestako.... ...1660 | Yellow Jueket New York Dry Gouds Marke NEW YORK, Dec. i—An bregular demand for staple and color toy has taken a good quantit, an such plchRee # were stimulated hy the reduction in prices-ef Utica and New York mills Ye; bleached T Tic_and Mohaw Valley, 10-4c bieached to 13 Fair sales of tickinis and denims were reforiil 8 1% a good request for all-wool dress goodw Printing - cloths dull at 2 11160 plus 1 PeF eent Coffee Market. YORK, Do, 2.—COFFEB—Options quite at’ unchafed to & points lower, December partic: closed dull at be10 ) _bage, including Septemby NEW Qctober, 1210012 4s4 Spotcoffee, Rio, " dyily mild, dull 10,00 liveries from esterday Cordova New York bags; Unit stock, bags: @fidat for the United i total 'Vi®hla for the United States bags last ye : good avern K9; stock Quict; good ave receipty during the nts 0 Un'ted States, W0 bags, HAMBURG, Dee, 91.—Qu'et; to % ple. higher; Decembe sales, 16,000 bags HAVRE, D RIO JANT a; receipts, 4,000 bgs; 202,000 bags okly ' report exchange, 101 bags; safpment bags; stock, 202,000 bags. eport $13.40; ship 100,000 ) bags pricos unehan 2 and 2, holiday Hollday. Diec 0 bags cleared Quiet; exchane d for the Un'te for Kurope, none 101 Quiet; exchange, Teveipts durlog to United &tandard the week 00 States, Sagar Mar NEW YORK, De AR-Dull fair re. ined, Elgin Butter Market, BLGIN Dec. 24.—-BUTTER—Steady; sales, 26,560 1bs. 1 I C— REFORMING MONEY ISSUES, OAKDALIE, Neb., Dec. itor of The Bee: The discu of the “cur- rency problem,” now epidemic in this coun- try, shows a considerable confusion of ideas as well as a confusion of tongues, In fact, the latter is a natural sequence of the former. One of the most manifest proofs of this confusion is the prevalent belief that the two recent government bond issues were made necessary solely because the national government has been redeeming jts treasury notes In gold, and that conse- auently no bond fssues would be required i redemption wi uspended, either by the action of the government itself or by the forbearance of the holders of treasury notes who would kindly and patriotically “search for the coveted yvellow metal, either in £old mine, a bank vault or any other pla except the one place most accessible namely, the New York subtreasury. Th fact of the matter is that had no bonds been sold the payment by the government of its current obligations would have dis pated not only the gold reserve but eve other form of *'cash on hand,” except a few millions of fractional coin, even though not a dollar of paper had been presented for redemption. The government had to borrow to its running expenses, and will be competted to continue borrowing from time to time until its income equals’ or exceeds its expenditures. This result will probably be reached within a year or two under the operation of the it tariff, and the treasury will then be In a position to build up its ®old reserve, without issuing binds and without appedling to patriotism or sentiment of any kind, An “elastic currency™ s another financial will-o'-the-wisp about which many people have very hazy notions. We {oid Gt our present currency s entirely lacking that sine qua non of a perfect currency—elas- ticity—but that if the banks can have the exclusive privilege of issuing it this quality shall be one of its most prominent and beautiful features. The function of money Is to facilitate the exchange of products or wealth in any form, and the characte feaura of “modera: commercial activity s that the very transactions which make a requirement for curréficy bring that cur- rency into exlstence in the form of bank checks and drafts.” The completion of the transaction ends the existence of the cur- rency which it brought into existence. Greater elasticity than (his can no currency have. Theoretically, all business could be carrled on without-the use of a dollar of actual money, If we _gssume the absolute responsibility 'of ‘éVel¥) individual. Practi- cally most of thaltarger and many of the smaller transactions are carried on in this way—that is, by bankchecks. The actual money in use, paper, gold and silver, 1s the smaller part of the entire currency, 'includ- ing in this lattér terh checks and drafts and any scheme designed to give to this actual money so-called, “elasticity,” that is, alternate contractips and expansion, is cer- tain, to_introduce ents of danger and weakness instend lements of safety and strength, This alternate contraction and ex- pansion, now called, elasticity when bank notes are referred to, cannot be made auto- matic in the sense that they will depend upon and be synchronous with the ebb and flow of business, even if this were desirable, which has not been proven. On the con: trary, this “elasticity” would depend upon the Wishes of the Issuing banks, and unless the law making the proposed change shall provide a new and improved form of human nature, as well as a new currency, these will undoubtedly be governed by sel interest. It is self-interest which is pushing the matter now. Indeed, it looks very-much as though there is an esoteric clique of financlers who are using the nonelasticity of the currency and the' depletion of the gold reserve as bugbears to frighten the timid and gullible into acquiescence with the bank note scheme, There is no popular demand for the retire- ment of the legal tender. The people are not rising in their might and demanding bank notes in place of greenbacks. On the contrary, there is undoubtedly a strong sentiment permeating the rank and file of all political parties in favor of an exclusiv national currency, consisting of legal tender treasury notes. ~ General discussion of the question_is likely to arouse this sentiment and make it an efficient factor in deter- mining the final result congressional action. As an Improvement upon any of the plans s0 far stated the following™ outlines are suggested Retire all existing forms of paper money, substituting for them a uniform legal tender treasury note, in such denominations as past experience shows there has been a de- mand for. This would certainly include $5 bills, and perhaps smaller ones. Provide a gold' reserve of 25 per cent for the redemp- tion of these treasury notes on demand. Sell all the silver bullion held by the gov- ernment, and alfo a considerable part of the coinéd silver now lying idle in the treas- ury vaults, and invest the proceeds in gold for the 25 per cent reserve. The amount of new treasury notes issued ghould be equal to amount of the old issucs retired, plus the 2 per cent reserve. This would prevent any contraction of the currency, producing instead an lnm-t—u:;e equal to gold re- serve now on hand, 2 “Without _claiming that the above outline embody the ne plus ultra of a currenc scheme, 1 will Invite eriticisms from the many classes who - from self-Interest or principle will oppose it. R. M'ADAM. "RAWFORD, Neb, Dec. 24.—To the Bdi- Lo o Mo oe: L wish g acknowledge (he recelpt of your excellent paper and add a few comments on the financial situation Our great statesmen at Washington seem to be worrled to get out of the muddle which they got themselves into by adopt- ing the gold standard. Did they not know what the result would be of making gold the money of final payment before they ventured? If not, they” should have read some populist literature. To make gold the money of final payment, then lay down the proposition that the government (th debtor) must pay in the kind of money d manded by the creditor is national suicid. Some may call such work statesmanship; more charitable people would call it im- becllity; I should call it treason, Here Is a nation-oaded with $30,000,000,000 of debt; after the debts are made then 'w restrict ourselves a# to the means of pay- ment, deny ourselves the debtor's option and hand over the option to the creditor to demand the payment in one article whicl we have not got. Result: The creditor d mands gold; we barrow it of him and pay it to him, and he demands again, and again we borrow his gold to pay his demand Now who Is being-enriched by these deals, tha debtor or the greditor? And how long will we have to Keep it up to get out of debt? It reminds ‘one of the school boy who took one step ,toward school and slipped back two 8teps. Doubtless the wrelch who occuplgs the presidential chair will formulate some plan, but no matter how complicated it-may be, it will amount simply to the above. It is possible to play such trash on the people for a time as wisdom, but not far long. They will nat even aceept it as [gnorance but will de- nounce and punish!it’ as crime. The way out 18 plain to any. honest patriotic citizen— restore silver and treasury notes to the realm of “money of final payment,” retire the national bank notes, and in théir stead issue greenbacks, bottomed on the soverelgn power of the government; that is what the Ponds rest on. Then why are not the treas, ury notes as safe and sound as the bonds? The one means prosperity and freedom from debt for the masses, the other (bonds) means debt_and poverty for them, and wealth for Shylock. For that reason' Shy- lock and his satellites prefer the bonds. It 18 plain that “our statesmen” are not look- ing for a way out, but scheming to get in deeper. The farce will soon play out, and then there will be & reckoning, and the blackest page of history ever written will be that of the last twenty years H. G. STEWART. For throat diseases and coughs use Brown's Bronchial Troches. Like all really good things, they are imitated. The genulne are s0ld only In boxes, | spcs. v of e ihe | FOR INSURED- OR INSURER Which 8hall Receive Oonsideration and Protection Under Nebraska Law? PROPERTY OWNERS' INTERESTS AT STAKE Abandonment Will Give Opport of the Valued Insurance Tolley Law Companies an nity to Construe Pollcy Contracts at Will, OMAHA, Dec. 21. the will To the Editor of The Bee: One of important subjects of legislation that doubtless be brought before the coming session of the legislature will be that of insurance, and many modi- fleations of the present law will no doubt be presented. These modifications will prob- ably be presented under three general propo- sitions, viz.: First, the repeal of the valued policy law; second, the abolishment of the 80 per cent clause; and, third, the exclusion of the “Lloyds” and other mutual insurance companies from the state. The first of these propositions is cham- ploned by Auditor Moore In his biennial re- port in language as follows: “In view of the alarming increase of the loss rate, as compared with the premiums received since the enactment of sections to 45, both inclusive, of chapter 43 of th: Annotated Statutes of 1893, 1 am forced to the conculsion that equity and fair dealing as between the two parties to an insurance contract make it almost imperative that the sections referred to ba repealed, deemed necessary, substituted by a more rational and less partial act. 1 can't resist the conclusion that the effect of this act is to create an incentive for incendiarism and thereby greatly increase the moral hazard of the risk written as well as to jeopardize the property of the neighbor, which nec arily must result in advanced insurance rates for the honest insurer to pay or a with- drawal of the companies from the field. Were all men above the suspicion of avail- ing themselves of the advantages they might gain financially by the valued policy law its effects would be beneficent and there would be no reason to suppose that this or an: other law would place a premium on ars FOLLOWS A FALSE PREMISE. Without impugning or questionng the mo- tives actuating the auditor in his conclusions as above stated, the writer cannot escape the conviction that the inspiration was drawn more from local underwriters than from the standpoint of the insured, and, therefors, are based upon a false premis to_puble policy, The valued policy law is the only real pro- tection that has ever been given to the in- sured in this state to protect them from the avarice of insurance companies and the bull- dozing tactiés of their agents and adjuster It is the only law that has ever given the insured anything like “‘equity and fair dea ing" in their contracts with the insurers. i am at a loss to understand by what process of reasoning Auditor Moore arr at the conclusion that the valued policy law is an “irrational and partial act.” He certainly cannot contend that a law that simply com- pels the insurance companies to comply with those provisions of their contract which they themselves have solicited and for which they have accepted their own fixed rates of com- pensation is an irrational and partial law. That it is all the valued policy law does. It simply assures the insured 1. - protection and indemnity that he pays for in case of total loss and nothing more. 1t does not compel the companies to pay a single cent more than they have agreed to pay and for which amount of indemnity they have exacted and accepted from the insured the rate of com- pensation fixed and regulated wholly by themselves, The insured has no voice in fixing the rate of compensation that he shall pay for his indemnity, neither does he fix the amount for which the company shall indemnify him. Both compensation and amount of indemnity on any specific risk are fixed wholly by the company through its authorized agents. There is no law compelling insurance companies to accept any application for insurance or fixing any specific amount or per cent of indemnity to be written upon any risk. The companies are left entirely free in the exercise of their own discretion as to the amount of insurance written upon any risk. Further than this, the company can cancel its insurance at any time upon refunding the unearned premium. Now, when the insured accepts the terms offered and the full rate of compensation asked, is there any injustice in compelling the insurance companies to comply with their part of the contract and pay the insured the full amount of indemnity contracted and paid for in case of total loss. To repeal this law would be a gross injustice to the in- sured and leave them wholly at the mercy of the company and its adjusters in case of loss, If you are going to say by such an act that the business men cannot recover the full amount of insurance in case of total loss from fire insurance companies you might with just as much consistency say that the beneficiaries of a life policy cannot compel the payment of the face value of the policy In event the insured is so unfor- tunate as to die before the expiration of his term of “expectancy of life.” MORAL HAZARD EXPLODED. The writer cannot agree with Auditor Moore in his conclusions that a valued pol- fey law increases the “moral hazard” of insurance, and thereby ‘“places a premium on arson.”” If any incentive is offered for incendiarism or any premium placed on ar- son the Insurance companies, and not the law, are responsible for it, in that they solicit and accept premium upon un indem- n'ty greater than the value of the prop- erty insured. 1If they accept such risks and create such incentives for the sake of the premiums received they alone are respon- sible and should be made to abide the con- sequences, They are at liberty any time to remove the ‘“incentive” and withdraw the “premium” by canceling a whole or part of the risk and returning to the insured the unearned premium. Who ever hearl of an insurance company returning any portion of a premium paid at the expiration of the contract because the Insurcd had pald for an indemnity greater than the actual value of the property insured? The writer does not b valued pol'cy law is In-any de for the alarming increase of the 1 as above referred to, from the fact that the same “alarming increase” is to be found in those states where valued policy laws have not been enacted, The records of fire losses, T think, will demonstrate the fact that all continued pe- riods of business depression and depreciating values have been accompanied by greatly in- creased ratios of loss. In short, hard itmes and not the valued policy law are the cause of the “alarming increase of the loss rate,”” It Auditor Moore’s conclusions are cor- rect, and the valued polcly law has created such a “strong Incentive for incendlarism,” “placed a premium on arson,” and thercby greatly increased the “moral hazard,” why is It that, soon after the enactment of the law, the insurance companies attached the 80 per cent clause to all the'r policies, thereby compelling the very large majority of the business men of the state to carry more insurance than they desired to or felt able to carry? That is just what all insurance companies doing busmess in this state did, and through this trick they compel nine-tenths of their policy holders to largely increase their lines of insurance. If a valued policy law 8o greatly increased the moral hazard, what about the 80 per cent clause that compelled policy holders to carry a certain amount of insurance, whether they desired to or not? Strange that insurance companies should thus seek to swell the premium already placed on arson. HOW IT WORKED BEFORE THE LAW. The fact is that the great hue and cry of “moral hazard” ralsed by insurance com- panies and their agents is but a mask to con- ceal the real facts and aid them in securing, if possible, the repeal of the valued policy law. It reminds one of Aesop's fable of the ass in the lion's skin, It don't quite reach, and it causes its wearers to expose one end or the other at every shift of position in their endeavor to conceal its defects. clieve that th and, if | Sold eveywhere wade by LADIES' DESKS, PLATES, DRESSING TABLES, PARLOR CHAIRS, SILVERWARE, TEA TABLES, PICTURES, SILK PILLOWS, LADIES' WHITE ENAM- EL DRESSING CASES, WHITE ENAMEL PARLOR CHAIRS, FINE RATTAN ROUKERS, FINE CHINA CLOSETS, PARLOR LAMPS, DECORATED CHINA CABINETS, CLOCKS, TEA SETS, WARE, GENTLEMEN'S SMOKING TABLES, BLACKING CASES, SILVER MATCH BOXES, SILVER AND CUT GLASS INK STANDS, FRAMED WATER COLOR PICTURES, FRAMED ETCHINGS, HAND EMBROIDERED SILK PHOTOGRAPH FRAMES, TURKISH RUGS, SILVER MATCH HOLDERS, E CASES, HOLDERS, MARKERS, Decorated Cups and Saucer: numerous to mention, we are noted, the insured for premiums upon threo times the indemnity that could be collected in case of loss, ‘‘moral hazard” was simply a professional term that added rhythm and pol- ish to the conversation of the fraternity. It was totally devoid of terror, and under- writers toyed with it as innocently as a babe would a rattle or a tecthing ring. But behold the change when a law cnacted compelling insurance companies pay the indemnity that they contract to pay. Moral hazard at once- becomes a horrible nightmare to every underwriter in the state; it threatens every insurance company with bankruptcy, and its terror is preached long and loud to every policy holder under pen- alty of rapidly advancing rates of insurance. A valued policy law does not increase the moral hazard of insurance, but to the con- trary, its wholesome enforcement will lessen the " incentives to incendlarism by teaching insurance companics conservative and legiti- mate underwriting, and checking them in their greed to over insure for the sake of the Increased premiums received. The valued policy law should stand as a bulwark of protection to the insured against the greed and extortion of the powerful insurance trusts of the country. H. 0. BEATTY, L Massillon Miners Go on # Strike. MASSILLON, 0., Dec. 2.—The miners at the Peacock mine refused to go to work today at the -cent rate, The mine em- ploys about 150 men. This action may have the effect of influencing the men at other mines to quit work on the basis decided upon by the arbitration committe — Ki 1l Notes ¢ ORLEANS, Dec .~ is to $1,401,- ings, 10, bal ances, §1 BALTIMORE balances TON, Dec, 24.—Clearings, $13,078,602; 20.—Clearings, $1,82,142; rings, $74,886,501; 24.~Clearings, 39,160 bals BERLIN days sighi WASHI the treasury MPPHIE 40,0 3xchange on London, PIE Jec. 24.—The cash balan: 6,998; gold reserve, $89,001 4. —Clearings, $381,458 York exchunge selling at elght in NCINNATI, Dec, 24— New York exchange, par (o ings, 32,80 PARIS, ey, 246 per eont o premium. Clear cent 24 p. m. rentes, 101f T2ike fir the account ndon, 25¢'18¢ for checks, LONDON, Dec. 24.—Gold Is quoted at Buenos es at 264; Madrid, 12.00; Lisbon, 26.00; St ersburg, 60; Athens, 7; Rome, 106.30; Vienna Three per Exchang A i 103, Children Cry foi Prior to the enactment of the valued policy law, when Insurance companies were plas- tering risks with policies double and treble the value of the property insured, and were recelving good round premiums thereon from the hoodwinked property owners, ‘‘moral hazard" was & term unheard of as applied 1o insurance risks outside the private offices of insurance companies. When insurance companies could mulgt Pitcher’s Castoria. Children Cry fo Pitcher's Castoria. Children Cry i Pitcher's Castoria. 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WARD & CO.’ Bankers and Brokers, 31 & 33 Broadway, New York City, STOCKS, BONDS, GRAIN, COTTON, COFFEE, Bought and sold for eash, or carried on 8 to 5 per YOU WANT TO KEEP POSTED YOU §HOULD D FORIL OU DAILY MARKET LETTER, WHICH TELLS YOU WHEN TO BELL AB WELL AS WHAT AND WHEN 10 BUY, You should also send for our CIRCULAR, which gives some valuable suggestions In the way of ot eV lon' o 3o o ok s ¢l gure out What you would have fol- lowing our rules, you ‘will say your k I the largest offices, rm,vhu’ more clerks, diieea o cisiomiers change, but If you are ehauce. If you'are speculating 1o th K HANGE, quit at ouce and lr{ the CONSOLIDATED, where you can save half the cominisslon, and all of the Interost, If you wish, CORN For dellvered prices on Corn or Feed of any description in car loads lots. Write or telegraph t W. H. BOOTH & CO ' Kansas City, Mo, | elghts and grades guaranteed. . WM. LOUDON, Commission Merchant Grain and Provisions. Private wires 1o Chicago and New Yorks All busiuess orders placed on vy Board of Tepde, . ‘orrespondence solicited, Ottice, “room 4, New York Life Bullding Omaba. Telephione 1306,