Muncie Post-Democrat, Muncie, Delaware County, 15 September 1922 — Page 3
FRIDAY, SEPTEMBER 15, 1922.
PAGES
NEWS OF THE FINANCIAL AND INDUSTRIAL WORLD
HOGS COMING BACK TO OLD IMPORTANCE AMONG FARM ANIMALS
Although no definite prog'ress has been made toward the official settlement of the coal and railroad strikes during the current week, conditions have materially improved. Railroad operating) forces are much nearer a basis of efficiency than for a good while past both in numbers and in working capacity. Anthracite coal discussions are still in progress with far prospects of settlement of pending issues and the rate of production of bituminous coal is satisfactory. If the railroads are able to operate steadily from now on there should be no serious coal shortage during the coming winter. All this is favorable and lays tlhe foundation for a belief that the railroad strike itself will soon be disposed of , Confidence in Railroad Future^ Publication of railroad earnings
Market Review and Outlook
Transactions have been on a somev/hat higher basis during this week than its predecessor; and the outside public, too, has snown more interest in the market prospect. While on the whole the movement has been strongly upward, yet from time to time reactions have occurred, although no liquidation on a large scale has been witnessed. To reiterate what lift often been Vs a id before, stocks continue in strong hands, and so long as this condition prevails not much chane-e in the trend is to be expected. The action of the market shows that it requires very little good news to advance prices, and that such recessions as have occurred during the past several days are mqr.dy temporary and natural developments in a market that is working
for the month of July hap rended to toward a higher level. There can be
no doubt that an outside following is being attracted by the remarkable steadiness of the share list, although public participation has not attained larf/i proportions. In other words, notwithstanding the material advance that' has already been t recorded, stocks as a class being- still held by strong interests, the distributive stage does not appear to have been
reached as yet.
stimulate confidence in the railroad future. The eamingls, at first somewhat irregular as reported, were at no time worse than might reasonably have been expected, in view of the strike conditions, while later figures have made it plain that the situation has never been as serious as was predicted. Net operating income for 104 class 1 roads during • July is now figured at $46,263,000, or $2,3000,000 over a year ago. Car- | loadings have at all times been far I ahead of last year’s and from this time forward will be about up to the limit of capacity. In these circumstances it is not strange that the outside public has been inclined to buy rails much more heavily and" has devoted itself to transcontinental issues on the one hand and to coal road stocks on the other. Advances in
vklue are regarded by expert ob- When 23 field reports on farmers’ servers as having by no means ex- | demonstration feeding Hocks were at hausted the market possibilities of j hand, two weeks ago, the average the roads, always assuming the mar- demonstrated gain in egg yield from ket possibilities of the roads, always I having fed the Ohio summer mash
assuming that they are enabled to j was S8 percent.
35 Farms Jump Egg Yield 128 Percent
maintain transporation. Announcement from Washington that only as a last resort would.the Administration there endeavor to obtain power to take over the mines and roads has undoubtedly helped to stimulate con-
Twelve additional reports have now been received, and the average increase of all the 35 flocks reporting to date has jumped to 128 percent. Guernsey County demonstrators have made the best showing to date.
Farm Prices Twelve Points Above Year Ago.
PRINCE ALBERT, SA3K.—Pigs are more than pigs in Western Canada. They are a sound .aelr farmer prosperity. Hog production declined somewhat in the West after the war. This was due to a falling off in price in the markets of the world. Bat Canadian farmers remained loyal to their porkers. And their policy has been justified. Hogs are coming back. Prices have advanced and are expected tu go higher.
The bacon hog has been the favorite of Canadian breeders. This is the hog of English tradition. Today Canadian bacon is a rival in British markets of the famous Wiltshire sides. The government has cteadily encouraged Canadian farmers to stick to hogs. It foresaw that eventually hogs must regain their position in farm economy. Following the government’s advice farmers have retained their herds. Settlers' pouring into the rich mixed farming country along the transcontinental
lines of the Canadian National Railways always add hogs to their livestock. This region is lightly timbered, rolling, well-watered and is idea! for all kinds of farm animals. [It has developed an extensive livet 'stock industry and is winning fame as a dairy region. An added impetus was given to hog raising by the decision o? rim large Canadian packers to pay i premium of 10 per cent on bacon hogs. This premium, ar.roun-»»d early ? n the year, went iiuo effect in May.
TAXED TO DEATH
London—After writing that he was unable to succeed in business because
fidence in a material degree. Obvious ()f 14 farm demonstrators there, in- j ^omrnftted'suickie 1 ^ 011 ^ ainc '*
necessities on the part of the rail- j creases from use of the Ohio mash ways for better equipment have ex-j averages percent. Frank Kelley, erted a natural and considerable in- Harry Jones, and Mary Thompson fluence upon the equipment shares, ' of this county all got increase exceed-
ir<? 400 percent from feeding this
mash*.
which are in most cases now at record high prices, with a volume of busiess which shows steady improve-
ment.
Prospect of Manufacture.
Despite the sensational announcement of one automobile maker that
MOTOR-CYCLIST IN PAJAMAS
f The St. Lawraace Were Open Now
TRUCK WINS THIEF CHASE
Parley, Eng.—Commandeering a motor truck, Mrs. Mary Hooker pmsued Richard Morne, caught him and
arrested him for theft.
Some Possibilities Pointed Out Rela - tive to Inland Waterways
DISMISSED FROM BANKRUPTCY James F. Hess of Troy and Walter
St. Joseph, Mo.—Wearing pajamas,
Thomas Carlton dashed into town on .....
he would close his plant on Septem- motorcycle to get help when his ? S. Culp of Piqua have been dismissed
her 15. rather than pay high prices - ~ - - 1 -
for coal, the general intent of the
Coal For United States, Grain Could Be Shipped, Othe Aids Outlined
manufacturing- public is to maintain onrrafions and thm-e nov'' seems to be .little doubt that they will be able to ommand the fuel with which to carry out their plans. There has been a decided growth in the demand for steel and prices have at last begun to follow wages upward, as it
farmhouse caught fir el Quick aid ( from bankruptcy in the United was given and the building saved. I States district court in Dayton. iiiiriiMiiiMHiimiriuiiiiiiiiMiiiiiiiiiinfiniiiiiiiiiiHiiiiiiiiiiiiiiiiiuiiiiiiiiiimiiriimii
HERALDS OF AUTUMN INVITE YOUR ATTENTION
was predicted they would when the ; HIIWNmilSjmimimilffllJlIRnHIlimiilllllilinililflllHmmimmilUitimRnmilim
recent wage advances were announc-!
ed. Demand has been strong in the building, trades, just as heretofore, j and pronounced activity has begun in leather and leather manufactures. | The reopening of a good many textile : mills with wage concessions at some j of them has helped the outlook for the cotton industry, while the tend- J ency of prices is distinctly upward in 1 nearly all lines. This makes for an , active business autumn and confirms | the belief that a prosperous situa- ; tion is to be looked for, provided ; that there are no new obstacles to j the movement of goods and fuel. 1 Unfavorable agricultural reports | have been confined largely to the j cotton industry, but even there the , fallng off leaves the condition still 5 points above the level of the corresponding date last year. High cotton prices, such as those now prevailing in the market ,will make up to the producers who obtain a yield 1 from their land for the shrinkage in j total volume of output. The esti- ! mate remains moreover at about ’ 11,000.000 bales. | Progress in Foreign Negotations. | Although the week opened in a discourag/ing way with extreme de- | pression in francs and marks, due to the belief that the repartions discussion was practically hopeless, the renewal of negotiatons at Paris has inspired new hope and annoucements made late in the week point to at least a tentative basis of adjustment. , Recovery in quotations of continental currencies has been the result. This is a matter of no little importance at the present time, as is seen by the movement of quotations for French and German securities which have varied yfidely during the past few days of uncertainty as to adjustment. Unofficial announcement that President Harding is watching the European situation closely and that a entente has been established between the United States and Great Britain relative to debt policy has been well received, although in the absence of definite information the public is not able to judge very accurately of the real prospects. Meantime the movement of gold to the United States and the definite announcement that Great Britain ^intends to pay the first instalment of interest due on her debt to the United States on October 1 has greatly tended to strengthen the position of sterling, which now moves quite independently of the continental cur-
rencies.
Domestically, the money outlook has been as favorable as ever. It has remained unaffected by the hardening of rates abroad illustrated in the raising of its discount figure to 7% by the Reichsbank. Reaction from cheap money in England appears to be in sight, but in the United States there is little change to be perceived. Reserve bank portfolios continue with around $576,000,000 of bills. Crop moving demands, whatever they may be, have been deferred much longbr than had been expected and there is little prospect that they will be heavy at any time. The liquidation of long term loans continues with ^ very fair degree of
success.
BY CHAS. P. CRAIG,
‘‘If the St. Lawrence were open now.” they are saying in Canada. 1 The Canadians d* *'’ 4 j know where : they are going tef *..t ”onl this whiter. They will get it somekbw, i but the outlook at this moment is ; not attractive. For Canada’s coal sup- I j ply is drawn from the United States, | and if the United States w-ill have | scarcely enough to go around, the j Canadian supply will be still more | j precarious. Canada has all kinds of i j coal, down ne&r the mofuth of the St. ^ Lawrence, and if river above Mon-
SIIORTS AND MIDDLINGS * You can pklnt iris and peonies ! now. ' * Going to select your steed corn i from the standing stalk this fall? I It’s the only way. j Says Sam: I hope by the time I die I know as much as I thought I 1 did when I put on long pants. I Hogs make right good corn cutj ters when soys are planted in the j same field. “Hogging down” corn , is not slip-ishod practice: often it
, pays.
; American farm women remodeled j 7.000 kitchens last year as a result [ of home demonstration w-ork through
1 the State Extension Service,
j A few nicks with a file on some unexpected part of your F.ord may help to identify Jt in case its stolen.
CAVIARE AEROPLANE SCORES London — English epicures declare that the caviare brought bv aeroplane from Constantinoule to Western Europe is much fresher than that which reached here in pre-war days.
A
I.READV suits and frocks for fall are knocking at the door of your attenr'm. sure that you will grow entlmsiustic over their graceful draperies, their rich embroideries or their
plain elegance.
It is perfectly safe to make selections from the early showings of suits and frocks because there is no mistaking the tendencies of fashion In most essential things. To begin with we are certain to have the crepe weaves with us again and neither I’olret twill nor tricotine has lost ground for tailored dresses. In their company, broadcloth appears and some new materials, among them wool seal and kasha cloth in heavy, soft weaves*. Colors are quiet, with black, dark brown, and navy to be depended upon. High colors are introduced in embroideries and accessories but there is a reaction toward dignity and restraint in day-time dresses. Many small silver buttons, narrow, fine plaited ribbons and tiny braids, in embroidered effects, strike the new notes
In trimming.
Skirts slowly but surely Increase their length and fashion has ceased\to be lenient in this matter. For matrons
it is decreed that they must not he shorter than eight inches from the floor and fur young people the limit is ten inches, lint in sleeves there is all sorts of latitude, from no sleeves at all to the flaring sort, and Innumerable vagaries in between. A lovely afternoon frock made of black crepe satin is shown at the right [ of the picture. Please note its side | drapery supported by rings, its 1 long sleeves embroidered in white beads and its white ermine collar. The attached panel at the side, is weighted with white bead balls and almost
touches the floor.
In the other frock the designer un* dertakes to revive the fitted dress. It is made of tricotine and satin and the picture tells its brief but novel story, cloth covered with tucks, gathered panels at each side, fastenings of silver buttons, satin underskirt and ruffles on the sleeves.
COPYtlGHT 1Y VESTERN NEViPAPU UNIQM
In Africa, the native girls want American clothes. Somebody is go-
treaf wou ? id”a*ccomraodate'colliers*like 5 inff to " et sunburned—Nashville Ten-
J those on the lakes, Clanaditjs coal nessean.
j problem this winter would be solved. 1 -■■■
j By the same token, 'the tiirr'vtary
served by tiie lakes on this side of the line would be greatly relieved if the
I way were open to bring in coal from
j Canada’s maritime provinces. . The Crop Movement “If the St. Lawrence were open now
1 —“Farmers and shippers of grain, and
railroad men too, are wondering what sort yf a transportation mess we shall he in when the heavy crop movement sets in. As long/ago as last spring shipping associations were warning their members tlnert it would be as much as ever the railroads were able to handle their business this fall. In fact, for almost a year railroad executives, vice-presidents McCrae and Lee of the Pennsylvania and others, ha/ve been sounding the warning, and that was before the railroads had had the set-back of. a strike. Under the best ' conditions; the railroads would have been hard put to it to move the crops this fall and keep ether traffic rolling. With the added griefs, the country will be in serious difficulties, and the situation is right
upon us.
If the St. Lawrence route were open so that vessels could pick up their load at the head of the lakes for delivery at the ocean ports on otir own sea board, or across the water, the difficulty of the seasonal movement would be reduced one-half and more. New England can handle New England traffic. The West can handle western traffic. And so for all parts of the country. It is when the west-, ern load piles up on top of the local traffic at eastern terminals that the transportation system chokes. Cars stop moving and there are no cars for any shipper. Like any other machine, v/hen the railroads are overworked they don’t work at all. ^ A National Aid The St. Lawrence will not be open in time to help this ^season’s difficulties. It won’t be open to ships next year, nor for five years to come, at best. It would save its cost in this one year of 1922 if it were open today. It would have saved its cost in the one year of 1920, if it were open then. It will, as soon as it is ,opcn. save its cost over and over. The West want's the way lb 1/1*2 sea. But it is not the need of the West alone. The whole country needs it. Whether it is shortage of fuel or blockade of merchandise or embargo on perishables or congestion of rail way lines, there is one central difficulty which is the key of it all. The prosperity of the United States depends upon the speed with which a national transportation system can be created. In that national transportation system waterways mtust have their place. Among waterway projects, the opening of the Great Lakes to ocean-going commerce is a fundamental. We need it now. Before it can be accomplished we shall desperately need it.
The prices of farm products in April, 1022, were 27 per cent above 1913 prices as compared with 15 per cent above in April, 1921, according to the monthly data of the United States bureau of labor statistics made public in May. The weighted average of all the groups for which figures are collected was 52 per cent above 1913 this April compared with 54 per cent last April. The purchasing power ratio of farm commodities has improved considerably during the period. April prices of farm products are 1 per cent lower than March prices, while the weighted average, which is taken as the price level, remains the same in April as in March. The changes from March to April are very
slight in all the groups with the exception of fuel, which is four points higher. Index numbers of wholesale prices for March and April, 1922, and April 1921, are as follows: Index Numbers of Wholesale Prices by Groups of Commodities. 1913 Equals 100
April
Mar.-
■April
1921
1922
Farm products
128
127
Food, etc
138
137
Cloths and clothing ...
1S6
182
181
Fuel and lighting
1S9
183
107
Metal and mstal products ..13£
115
117
Building materials
203
202
201
Chemicals and drugs .
108
150
160
House furnishing goods
...ATI
213
211
Miscellaneous
154
153
152
All commodities
154
152
152
Index Itoibnrs of Wholesale Pricea by Groung of CogooditiaB. At>rll IQ?? (Heavy horizontal line » weighted averse of all the groups, or 152. This is taken as the Xpril Price Level based on 1315 which “ 100.) Souroei 0. .S. Bureau of Labor Statistics. PE ft , * —' —iPC Rl
fJEM'. 2.JO
210..
ZCC
/I/O
/30
/ZO
HO
Louse
Points above April
Price Level.
Elds.
Chemicals and Drqga Clothe omf clothing Fuel and lighting* Building materials /Sol Rouao l urnishir^a
April 1322 Price Level
8 23 55 43 59
Chen.
Fuel
Cloths
■ 2 Co
/Sb
n c
Food
Points below April Prloe Level.
Farm
Metals
Hst&ls F«m Products Food, oto. Miscellaneous
1915 Price Level.
55 £5 15
■ •GW
im
A Special Price. Owner—“What will it cost me to have my car fixed?” Garage Man—“What’s the matter with it?” Owner—“I don’t know.” Garage Man—“Forty-eight dollars and fifty cents.”
Her Come Back Our neighbor heard a conundrum the other day and as it struck him as extremely funny, he decided to try it on his wife. “Do you know why I am like a donkey?” he asked when he got home. “I know you are, but 1 d’ont know why.”
looking up at the starry sky, she said, “Father, I Lave been thinking that if the wrong side of heaven is sd beautiful, what will the right side be?” Well Informed. Man, in search of his wife—“Bridget, do you know anything; of my wife’s whereabouts ? ” Bridget—“Yes, sor, I put them in the wash.”
Easy success teaches a man nothing—rather it leads him to expect further success with little effort.
An Admitted Exception. > “Sometimes, John,” said Brashkin’s wife, “I do get a little discouraged, j and think you are hard to pleasfe.” “You don’t say so,” was the aston-
ished rejoinder.
“Yes. but I must admit there is one thing you never found fault with— the way I look when I wear my last
year’s clothes.”
Not Much Difference. “Just back from the South Seas?” “I spent ten years there,” said the copra krhg,. “Do the styles in womelri r s clothes shock you since you have come home?” “On the contrary, they seem familiar.” '
H. C. OF COLLEGE LIFE
. . Oxford—The high cost of college life is becominp* a matter of serious concern to officials of Oxford and
A litle girl was quietly walking , Cambridge. Efforts are being made to with her father one night. At last, ! find remedies.
Central Indiana Gas Co.
Public Utility Stocks are in a different class from
Industrial stocks.
A public Utility supplies an essential service, for which there is a constant demand. Investigate the Preferred Stock of the Central Indiana Gas Company. Let us show you why it is SAFE and why the earnings are DEPENDABLE.
$25.00 Shares
8% Dividends
Centra! Indiana Gas Co.
301 E. Main St.
Phone 755
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