Indianapolis News, Indianapolis, Marion County, 18 March 1903 — Page 12

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THE INDIANAPOLIS NEWS, WEDNESDAY, MAKCH IS, 1909.

iem Ppttm Pmoui li ASwtffrauuia CMWtX tioSTEUfm ASST.&tSMU AmmcwSmitn AssT.Cttwa

AMOUCAN NATIONAL SANK

TWO YEARS

BROWTM m OCPOSTTS

lttl.M.4

IBM

$366,371.75 $1,213,225.03 $2,697^01.78 $3,549,865.04 $5,043,562.94

Jar li

IIK. Fa. 21

Jkv II

SOUTHERN PIICIPIC WILD; GREAT BLOCKS BOUGHT

ADDITIONAL MARKETS On Page Thirteen.

RAPID REACH Oil WAS Be Wise in Time! FORCED lA PROVISIORS Make No Mistake!

Ancreased on J to |U>o,uto,oot'

TREMENDOUS SPURT OF BUYING RIGHT AT CLOSE.

BIG INSURANCE COMPANIES

American Express Company ISSUES Foreign Exchange. ?able aTelegraphicTransfenk Travelers Cheques and letters of Credit Available throughout the world. • . .; ji ' ; 1« NORTH MKKXHIAN STRKCT

Gobbling Up Bargains in Wall Street —Street Looking for Regular Spring Bull Market.

»• Hav* Unexeallcd Fioilitias Far Collecting Rents Oor long experience, efficient office force end pereonal attention to details, enable us to get the beet result* from dwelling house* and 1 v . businees property. JohnS.Spann&Co 46 N. Pmr. St., Opposite Postoftice

Indianapolis Strant Railway Ooarantssd Stock SEC NEWTON TODO S’ FLETCHER BARK BUILDING If yon want to buy or sell.

ALBERT B. THOMPSON. W. O. COMLY. ALBERT R. THOMPSON ft GO. Bankers and Brokers Member* Chicago Stock Exchange Lombard Building. ““"YSSlTcr.. BONDS "Wa wish to buy American Central Life Insurance Co. Stock.*’

WANTED: Oil Lease*—Indiana and Ohio. Wanted—New Patents; bujera waiting. ROBERTO. FINCH OIRoos, II** AtovonsOn Bldg.. Indianapolis.

fSpeclal to The Indianapolis News.] NEW YORK, March IS.-Just before the close of the stock market to-day there was a sensational burst of buying in Southern Pacific. Trading was in l.cOOshare lots,, and the tape carried almost nothing but transactions in that stock. The buying was supposed to be for the two interests contending for control. It ran the price up wildly, and had the market, not closed so soon after the beginning of the movement. Us violence would have disorganized the entire list. The demand for stocks broadened out to-day, and there were more active stocks in the market than for many days. The tone, too, was brighter. Investors and the big insurance companies were In the market picking up cheap stocks to put aw r ay in their strong boxes. There was plenty of time money at ats per cent., and indications began to be for a bull movement of the usual spring proportions. There was a sharp upturn for a time, but shading of Metropolitan and weakness of Amalgamated were a drag, and held the list back. Reports were current that the Union Paeifie-tiouthern Pacific controversy would be compromised. r I here w'as little change In the open situation, however.

Transit, smelter, hugar, voppei. .viionuu,. Pacific, Atchison. Union Pacific, Southern Pacific, New York Central, Pennsylvania, Reading and Erie. Pennsylvania Rights. Th?rc is quite a good deal of interest with respect to the forthcoming allotment of Pennsylvania railroad stock. The indications are that this allotment will be announced toward the end of the month. Tho terms are not yet settled, but the probability is that the amount will be between $80,000,000 and $100,000,000 of stock at 130 or 125. Some people have feared the allotment as likely to have the effect of accentuating the etringency In the money market. As a matter of fact, it should have a precisely contrary effect. The money' as ft comes in will be used to pay off loans made with banks, etc., which means that it will be at once available for the money market. A good deal of the money will come from quarters where It is not available to the money market. The effect of the operation, in fact, is to gather up money from a number of small sources and concentrate It In one place. The installment payments will be arranged so as to involve no hardship to Stockholders. Northern Securities. James J. Hill, in conversation with friends just before he sailed for Europe, told them the earnings of the Burlington for the first six months of the present fiscal year had been sufficient, after the payment of all expenses and charges, to meet all the requirements of the guarantee of 8 per cent, on the stock made by the Northern Pacific and Great Northern. Mr. Hill is reported as having said further that the iron mines owned by the Northern Securities Company in northern Minnesota gave promise of being the most valuable acquisition the company has made since its beginning. More Telephone Stock. A special meeting of the stockholders of the American Telephone and Telegraph Company, the holding company of the Beil telephone system, has been called for March 81. at 11 o’clock, at the office of the company in this city, to vote a proposition to Increase the capital stock from *150,000.000 to $360,000,000. The authorised stock of the American Telephone and Telegraph Company was

ime 3, 1901, from $100,000,000 (ft the new stock $2O,7(Rt,!)0o I

was subscribed for by stockholders at par ' in I9ni and >_*,937,000 in 1903, raising the 1 amount outstanding to $104,7«ii,00o in janu- | ary, 1903. In itudltton, $33,143,wo is held by the American lie!I Telephone Company, | and is virtually unissued. j According to a Boston dispatch which reached \\ all strept, the company does not intend to Issue the increased stock at the present time, but only as necessity I

may demand.

[By Albert R Thompson * Co.’s Wire.) j Name. Open.High.Low.Close. |

Industrials—

Amer. Car & Kotin.. 40V» 4 American Ice 7 1 ,* American ice pfd 33Vt: Am. l.tK'o 2('■% /'tin. Loco pfd 94v 4 Am. S. & K 504 Am. 8. & It. pfd .... 964

Am. Sugar I;efineryl2r>Vi 1274 1254 1274 ! Am. Copp. r 734 72\ 721* 724 ! Anaconda 1234 i’^ l’3u> 133c,

Colo. Fuel A- Iron.. 65 Natl. Lead 26% Nail. Lead ptd 92 People's Gas 1024 Pressed Steel Car.. 60% Pressed St'l Car pfd 93%

R. I. and S 204 20% R. Iron and S. pfd.. 78 78%

) Should you appoint a friend or relative

i executor or trustee of your estate, he

LIGHT BUYING STAMPEDED THE'mjgin die, refuse to accept the trust, or SHORTS. | resign on account of Ill-health’ or some

other reason, and the court might ap-

point as his successor an entire stranger,

or some person whom you would never ! have intrusted with your property. The

PRICES MOUNTED QUICKLY

>4 40%

1 *.ta

204

78 2d 79

65% 12% 36% 86% 33% 87%

28% 94 4 50% 96%

924

102%

61% 93%

Corn Pit Devoid of Sensational Features and Scalpers Were the Only Buyers.

[Special to TV" Indianapolis News.]

$300,000 35 Per Gent. Bonds

Bids will be received by the undersigned until U o’clock, noon, of March 31, 1908, for the whole or any part of $300,000 of bonds of this board, to be designated "School Real Estate and Improvement Bonds of May, 1908.” dated May 1, 1908, for $1,000 each, bearing Interest at the rate of 3% per centum per annum, payable seral-annaaDy on July 1 and January 1 of each year, evidenced by Interest coupons attached, both principal and Interest payable at the banking house of Winslow, Lanier A Company, New York city, New York. The bonds will be numbered from 1 to 900, both Inclusive. The principal of the bonds will be payable as follows: Nos. 1 to 60, both inclusive, on July 1, 1930: Nos. SI to 100. both inclusive, on July 1. 1931; Nos. 101 to 160. both Inclusive, on July 1, 1982; Noe. 161 to 200, both Inclusive, on July 1, 1933; Noe. 301 to 260, both inclu- . sive, on- July 1. 1934; Nos. 261 to 300. both Inclusive, on July 1, 1336. Bids to be in sealed envelopes addressed. "The Board of School Commissioners,- Public Library Building. Indianapolis, Indiana," Indorsed "Bid for School Real Estate and Improvement Bonds of May, 1903.” No envelopes save those printed and furnished by this board shall be used, and no bids shall be considered If the yivelopes submitted shall bear any distinguishing mark. A prospectus of said bonds and envelopes for bids will b« furnished upon application to. the secretary. On the day and hour named, bids will be opened and tabulated, and later submitted to a meeting of the board, which will assemble at the hour of 4 o'clock p. m. of that day. The board will then take action upon the bids, and will then award the bonds to the highest and best bidder or bidders. If the bid contain^ more than one proposal, the board may accept one or more of such proposals and reject the others. Parts of the bonds may be. by the board, •warded to different bidders. No bond shall be sold for less than par. The full right is reserved to the board in its discretion to reject any and all bide. Each bid shall be accompanied by a check certified to be good by a bank or responsible trust company In Indianapolis, Indiana, payable to the order of the .Board of School Commissioners of the City of Indianapolis. Indiana, for at ieasf 3 per cent, of the face value of the bonds bid for. A failure on the part of th*fcbidder to fully perform the contract of purchase at the time and place named ahajl be a breach of the contract of purchase, and shall entitle the board to retain the proceeds of the certified check of euch defaulting bidder, as liquidated damages for such breach as provided in the resolutions of said board of February 10. 1908. authorising the Issuance of said bonds Th* hWs furs to be in dollars, and the amount bid is to be expressed in both words and figures, the bidder stating how many dollars he offers for the particular bonds he proposes to take. The board reserves the rlghT at its option to waive mere Informalities in bids, If of advantage to the board to make the waiver, j' • ' The money bid for any of said bonds shall be delivered to the treasurer of the board, at the office of the board, in Indianapolis. Indiana; that no Interest shall run upon any of the bonds until the money therefor shall be paid and until tbs actual deUvery of such bonds to the purchaser; such deliveries shall be as follows, vis.: Bonds Nos. 1 to 100. both inclusive. June 15. 1906; Nos. 101 to 200, both inclusive, August 16. 1908; Nos. 301 to 300, both inclusive, October 15, 1908. All of said bonds art offered for sale and are to be executed and Issued In pursuance of the authority of an act of ths Legislature of the State of Indiana, approved January 29, 1908, entitled "An act to amend Sections three (3). twentyfive (25) And twenty-sight (28) of an act entitled ’An act concerning common schools to cities having a population of more than 100,000. providing penalties for ths violation Of ths provisions thereof, and declaring an emergency.’ approved March i, 1899, and alao adding sections to provide for the issue of bonds by the boards of school commissioners of such cities for the purchase of real estate and tor ths improvement of school property, and declaring an emergency," and In pursuance of a certain preamble and resolutions of said Board of School Commissioner*. adopted and made matter of record In Us minutes on February 10, 1903, and for the purpoee of procuring money with which to purchase real estate wad improve school property.

Rubber Goods Rubber Goods pfd. Tenn. C. & 1 U. S. Leather l*. S. Steel U. S Steel pfd ... Railway 8. S Railway S. S. pfd.

Railroads—

A., T. & Santa Fe.. 81% A. . T. & S. F. pfd... 97% B. « 0 92% Can. Pac 128% C. & 0 46% C. & A 32 C. G. W 24% ('.. M. A St. P 189 e.. r. 1. & p 44% C.. R I. & P. pf 77% Colorado Southern... 26 Colorado South. 2d.. 40 Delaware & Hudson.169 Denver & Rio G 38 Denver & R. G. pfd. 86% Erie 35% Erie 1st nfd 67% Erie 2d pfd 54%

26% 91% 102% 60% 93% 20%

26% 92%

192%

61% 93% 20% 78%

34 SS

82% 97% 93% 129%

32% 24%

170

44% 77% 26% 40%

171

87% 36% 67% 55%

CHICAGO. March 18.—Corn and provisions again held the attention of the Board of Trade brokers. Provisions were weak early and absolutely without support from packers. The’ break in the price of hogs, following the weak market at the yarns earlier in the week, frightened the few scattered longs remaining, and the low price was made In May pork,

$17.35.

Here the brokers stepped In with orders from the big packers, and the market made a recovery even more sensational j than its decline. On the jump shorts were

•m. -mi* j stampeded, and the price went to $17.90. stl! 87** ' There was little to indicate what the

- '* j movement of prices might be in the near S1 -, future, but in the market to-day slight "iif I buyiftg had a strong effect. The market

Indiana Trust Co.

has perpetual existence, will accept the trust, if appointed, and retains possession of the property until the trust Is fully completed. You know, when making your will, who is to administer your estate, and you also know that every wisri will be faithfully and honestly carried out.

65% 12% 36% 86%

66% 12%

81% 97%

j had been oversold.

92% 93%

Corn, too, made the low point of the

‘“Jp | present break. With

.24® ! Armour connections.

86% 35% 67% 54%

169%

44% 77% 26% 40%

176%

86% 36% 67%

Illinois (Central .. ..139% 140% 139% 139% Iowa Central 37% 37% 37% 37% K. C. South 30% 31 3074 30% Kan. City So. pfd.... 56 56% 56 55% L. & N 121% 121% 121 121

‘ ‘ It!

Mexican Central Mexican National M„ K. & T M. , K. & T. pfd. Mo. Pacific N. Y., O. & W.

26%

25% 56%

26%

26% 56%

17% 25% 56%

26% 17% 26% 56%

108% 109% 108% 109%

\v 30% 31% 30% 31%

N. Y. Q. & H. R 136% 137% 136V* 136%,

Norfolk & Western. 71% 72 71% Penn 142% 143% 142%

Phil. & Read 61% Phil. & Read. 1st... 84% Phil. & Read. 2d.... 73 St. L. & S. F 79% St. L. & S. W 25 Southern Pacific — 63% Southern Railway .. 31% S. Railway pfd 95 Texas Pacific 38% T„ St. L. & W 25% T. . St. L. & W. pfd.. 42 Union Pacific 92% Union Pacific pfd... 90% Wabash 28% Wabash pfd 50

62 >4 84%

61% 84% 79" 24%

31%

38% 25%

71% 143 61% 84% 79”

67% 32%

38% 26%

93" 92" 93"

Wisconsin Central

Wls. Central pfd..

Miscellaneous— Brooklyn R. T

25% 49%

28% 50% 26% 50

25% 49%

28% 60 26% 50

65% 66

Manhattan Elevated.140%

141%

140%

Metropolitan St. Western Union .

Ry.134%

135%

134%

Call Money

Bonds— Bur. joint is ...

93%

102%

U. Pacific conv.

.... 102%

103 77%

Wabash deb. B.

.... 76%

76%

Con. Tobac. 4s .

62%

no support from and little of the

grain In strong hands, the price got as low' as 43%c. Here the unusual condition of May and July options at the same price

presented itself.

Scalpers Only Buyers. The demand for shipment by rail w'as comparatively light, pending the speedy opening of navigation. The corn pit, however, was devoid of the sensational scenes of the earlier w'eek, and trade was negotiated without the feverish price fluctuations. The only buyers were scalpers. Wheat and oats were narrow and quiet. Wheat showed more firmness than of late, and seemingly was less at the mercy of the fluctuations of corn. The w-eather map Indicated warm, spring-like conditions throughout the Northwest. Cables showed dullness, which gave them tho appearance of steadiness. The cash situation is low, winter wheat prospects fine, conditions favorable for an early spring seeding anu foreign crop prospects gen-

erally satisfactory.

Chicago Stocks. [By Albert R. Thompson & Co.’s Wire ] —March 18.—

Open . 8%

Name.

American Can American Can pfd National Biscuit National Biscuit pfd .. Swift & Co United Box Board.. ..

United Box Board pfd ....31%

n. High. Low. Close.

8% 8% 8%

45 45% 44% 45% • 46% .106 106 105% 105% .124% 4% 4% 4% 4%

31% 30 31

THE BOARD OF SCHOOL COMMISSIONERS, OF THE CITY OF INDIANAPOLIS, INDIANA.

Indianapolis, Indiana, February 14, 1908.

By JOHN E. CLBLAND,

Business Director.

—

Local Securities. Little was done on the local exchange to-day. No sales were made on the call, and but two wore reported. Prices were steady.

—Sales.—

10 Home Heating and Lighting Co. 5s 100 1 Indianapolis, Columbus & Southern us.. 102% —Stocks.— I

Bid. Ask.

American Central Life Insurance Co. 82 American National Bank 162% ... Atlas Engine-works 110% ... Belt Railroad common 105 108 Belt Railroad preferred 130 135 Capital National Bank 168 161 Central Trust Company 135 Climax Coffee & Baking Powder Co 100 Columbia National Bank 110% ... Consumers’ Gas Trust Company 776 Delaware & Madison Co. Telephone.. 40 46 Federal Union Surety Company 92 100 Home Brewing Company 108% ... Indiana Hotel Company preferred 95 Indiana Manufacturing Company 105 Indiana National Bank 225 Indiana Title Guar, and Loan Co 80 Indiana Trust Co 156 Indianapolis Fire Insurance Co 142 150 Indianapolis Gas Co 70 Indianapolis Street Railway 83 87 Indianapolis Terminal and Traction.. 35 Law Building 80 90 Laycock, T. B., Mfg. Co. pfd 103 Marion Trvst Company 222 226 Merchants’ National Bank 192 .... New Telephone 84 86 New Telephone—Long Distance 68%

People's Deposit Bank

pies Depoa

R&uh Fertilizer pfd Security Trust C01

mpany

..no

108

Union National Bank .100 Union Traction common ^

Union Traction pf Union Trust Comp Wasson preferred

Union Tractku

con

. pfd. ipany

^ —‘Bonds.— . Broad Ripple 5s ...' 92 Citizens' Street Railroad 5s 106% Delaware & Madison CO. Tel. 5s .... 87 Home Heating and Lighting Co. 5s.. 95 Indianapolis Gas Co. 5s .....104 Indianapolis Improvement 6s 100 Indianapolis Street Railway 4s 86 New Telephone^ first 5s.,..- 94 New Telephone, second 5s 84 Union Traction of Indiana. 6e........ 99 Indianapolis. Columbus & S. 5s 100 New Telephone—Long Distance 5s.... 80 •And interest.

108% 90 100

87% 95 85 100 103%

[By

A. W.

Thomson’s

Wire]

Articles.

Open.

High.

Low. —Close—

WHEAT—

Mch.18.Mch.17.

March May

.. 72%

74%

74”

74%x

72% 74%x

July

71 %-

71V«-t>

71 %x

71-

Sept 69%-

....

CORN-

March .... 42

42%

45%b

May

.. 44%

44%

43%

44b

44%-b

July

...43%

43%-

43%

43%x

43%-

43%

Sept OATS—

...42%

43%

42%

43x

42%

March ....

.. 33%

May.. ..

34%

34%-

July 31%

31%

31%-

FORK—

May ....

..17 47

17 90

17 35.

17 85x

17 50

July ....

..18 65

16 95

16 50

16 87

16 75

Sept .... LARD—

..16 40

16 65b

16 32

16 60b

16 50

9 70

May

.. 9 77

9 95

9 75

9 8"x

9 80

July

9 75

9 60

9 72

9 62b

Sept

9 72b

9 60

9 72

9 62

RIBS—

May 9 50

9 70

8 47

9 67-

9 50

July .. ..

...9 35

9 47-

9 32

9 4ox

9 35

9 37

Sept.. ..

9 37

9 20

9 32

9 22

» 30

Cash Wheat—No.

2 red.

74c;

No. 3 red, 700

73c; No. 2 hard winter, 70@72c; No. 3 hard winter, 67@71c; No. 1 Northern spring, 77®78c; No. 2 Northern spring, 76%@77%c; No. 3 spring. 69® 76%c. Corn—No. 2. 42c; No. 3, 37®37%e. Oats—

No. 2, 34c; No. 3, 33c.

Barley—Cash, 42@54c. Flax—Cash, Northwest, $1.12%; Southwest, $1.10; May, $1.12%. Timothy—March, 35%c. Clover—March, 11.25c. New York Grain Market. NEW YORK. March 18.—Flour—Receipts 20,854 barrels; sales, 4,300 packages; dull, but steadily held. Wheat—Receipts 40.860 bus.; sales, 1,470,000 bus. Prices advanced for a time on bullish estimates for Argentine shipments, but at noon weakened with com; May, 78%® 79 3-lSc; July, 76%@76%c. Rye-Easy; No. 2 Western, 60%c f. o. b. afloat. Com—Receipts 171,000 bus.; sales, 250,000 bus.; opened steady on cables and smail receipts, but later eased off under further liquidation; May, 50%@50%c; July, 48%@49%c. oats—Receipts 126,000 bus.; dull; track, white, 44%@47%e. Beef—Easy. Pork—Dull; mess, $18.00® 18.50; family, $19.50® 20.00; short clear. $19.00®20.50.

Other Grain Market*; BALTIMORE, March IS—Flour easier. Wheat steady; spot and March. 78®78%c. Corn steady; spot and March, 49%@49%c. Oats steady; No. 2 white, 42%@43c. CINCINNATI. March 18.-rFlour — Dull. Wheat—Quiet; 77c. Cora—Weak; 44%c. Oats —Easier and lower,' 37c. Rye—Quiet; 57c. Provisions—Quiet; lard, 9.60c; bulk meats. 10.00c;

bacon, 11.25c.

TOLEDO. March 18.—Wheat dull, higher; cash, 74%c; May, 76%c; July, 73%c. Com dull, steady; March, 43%c; May, 42%c; July, 43%c. Oats dull, steady; March 36%c; May, 35c; July, 31%c, Rye dull; No. 2, 54c. Clover seed active, strong; cash. $7.40; March, $7.32%; April, $7.10; October, $5.50. — **—' , —

$1.60. Prime alsike, $7.50.

LIVERPOOL, March 18.—Wheat—Spot quiet;

No. 2 red Western winter, 6s l%d; No. 1 Northern spot, 6s 8%d; No. 1 California, 6s 9%d; futures quiet; March nominal; May, 6s l%d; July, 6s l%d. Corn—Spot American mixed new, steady, 4s 7d; American mixed old,

no stock; futures steady; March,

May, 4s 2%d.

Prime timothy,

—ed

nominal;

lav,

35c

Indianapolis Clearings.

March 18. March 11. Clearings $68,523.53 $736,913.28 Balances 86,182.47 102,968.88

Clearings Elsewhere.

-BALTIMORE. March 18.-Clearing*. $3,450,448;

balances, $513,506.

PHILADELPHIA March 18.-Clearings, $20,-

942,546; balances, $2,457,1*4.

CHICAGO, March 18.—Clearings, $28,128,733;

balances, $1,292,538.

ST. LOUIS, March 18.—Clearings, $7,061,919;

balances, $1,305,340.

NEW YORK, March 18.-Exchanges, $233,306,-

406; balances. $10,338,228.

BOSTON, March 18.—Exchanges, $24,343,689;

balances, $2,083,367.

The Money Market.

NEW YORK, March 18,-Money on call steady at 6 per cent.; prime mercantile paper, 6 per cent.; sterling exchange Arm, with actual business in bankers’ bills at 4*7.125®4,87.25 for demand and at 483.75 for 60-day billa; posted rates, 484% and 488; commercial bills, 483®483%;

bar silver, 48%; Mexican dollars, 38,

CHICAGO, March 18.—New York exchange, Kte premium. Foreign exchange, posted rates at 484% for sixty days and at 488 for demand. LONDON, March 18.—Money. 3%®3% per cent. The rate of discount in the open market for short bills is 3 11-16®S% per cent. The rate

discount In the open market for three

11-16 per cent. Bar silver

Iscount in

nonths' bills Is 3%®3 11

irm, 22 7-16.

U. S. Bonds in New York. —March 18.—

ST No.

75c; May. 69%c; July, 68%c; No. :

Com—Higher; No. 2. 40c: track. 4iv<»42c: ,,ia 40c; July, 40c. Oats—Firm: No. 2 cash, nominal; track, 35%@36e; May, 33%#o3%c;

38c. Rye— ng standard

9.57%c.

KANSAS CITY. March 18,-Close-Wheat—May. 64%c; July, 62%@«2%c; cash No. 2 hard. 69@nc; No. 3. 63<Si68c; No. 4, 68@>63c; rejected, 52@57c; No. 2 red, 70®72c; No. 3. 66@69c. Corn—April, 35%h; May. 38%c; July, 38%c; cash No. 2 mixed, 38%@ 39c; No. 2 white, 3ik&40e; No. 3, 38<g>39c. Oats—No. 2 white, 35%@36%e. Eggs— Fresh, 10%c. ' To-Day’s Primary Markets. Primary market receipts: Wheat, 401,000 bus., against 395,000 bus. the corresponding day a year ago; com, 575,000 bus., against 328,000 bus. Primary market shipments: • Wheat 151,000 bus., against 181,000 bus. the corresponding day a year ago; com, 369,000 bus., against 237,000

bus.

Minneapolis received 23U cars of wheat and Duluth 5 cars, a total of 235 cars, against 455 cars the corresponding day a year ago. St. Louis receipts: Wheat, 85,000 bushels, against 30,000 bushels the corresponding day a

year ago.

Kansas City receipts: Wheat, 51 cars, against 67 cars the corresponding day a year ai

irlots; Wheat, 15

OFFICCa:

INDIANA TRUST BUILDIN6 Cor. Washington St. and Virginia Ave.

FOR SALE Preferred stock with which a limited amount of the common stock of the Crown Chemical Company, manufacturers of WHITE LINE WASHING POWDER will be sold. This is one of the best profitpaying businesses in Indianapolis, having paid dividends of 20 to 25 per cent. Business in healthy, growing condition with an established trade in six States. Mail orders alone at this time show a nice profit on the business. Preferred stock sold prior to April 1 will entitle Holder to semiannual dividend of 3% per cent, to be paid July 1, 1903. Established by present officers— Augustus F. Garriott, president, and John M. Price, secretary and treasurer—1896, and incorporated 1902. References: The Bradstreet Agency', the Columbia National Bank. For particulars, address The Crown Chomieal Co. 506 S. Delaware St., Indianapollt

WE OWN AND OFFER FOR PUBLIC SUBSCRIPTION $200,000

Brown-Ketcham Iron W’kf

OF INDIANAPOLIS

6% Preferred Stock CUMULATIVE, NON-TAXABLE AND NON-ASSESSABLE PAD VAI IIP CRfl Intermit payable quarterly, February 1, May I ri\t\ ▼ rvLfULf August 1 and November 1. Redeemable at pa February 1, 1942, with the option to redeem after February 1. 1913, at H5.5i or $57.75 per share and interest; after February I, 1923, at 112.50 or $56,2. per share and interest; and after February 1, 1933, at 107.50 or $53.75 pe share and interest. Par Value, $50 The total issue of this preferred stock of the Brown-Ketcham Iron-Works is 1350,000, of whie 1100,000 has been sold or exchanged for the purpose of retiring a like amount of outstanding pn ferred stock, issued in 1890, and $50,000 has been sold to underwriters to be retained by them for pa manent investment, leaving $200,000 which is now offered for public subscription. The increase < the preferred stock of the company, being $250,000, is to be added to the present working capitf of the company to meet the demands of its increasing business.

$53.00 per shari Company and th 26, 9:00 o'cloc

is still a dull and uninteresting one. Argentine shipments estimated at 1,200,000 bushels. There Is nothing In cables to indicate anything better than dullness. On crop conditions and export demand as they now appear, we see nothing to make sales of wheat on the hard F£>ots dangerous. Com—The market was again active. There was some further scattered selling pressure on the May stuff, and apparently further good buying for local account of the July. No change in the cash situation, and pending the opening of navigation, only a short time off, it is probably likely to be dull. May com has had a good break, manipulation is apparently out of it for the moment, and we are Inclined to think it Is worth the money. Oats—It was a fairly steady market. The trade thought Patten was buying May oats to a moderate extent, and selling July oats very freely. On the supposition' that the new crop of oats will be a normal one. it looks to us that following the large crop of last year, July oats are high enough and may be sold with safety on the hard spots. Cash position is slow. Provisions—Market was moderately active and firmer. The strength seemed to come largely from catering of shorts connections the scalping some realizing by the large packers. The feeling and situation in provisions, have, we think, been weakened some in the past week, and on the action of the market we would rather sell the deferred fut • "n the hard spots. toySOfaaw.. r

ng of shorts. Houses with foreign seemed to be covering freely, and f Interests followed suit. There was

The wagon Market. —March 18.— Com—Selling at 45c. Oats—Sheaf. [email protected]; shelled. 38@39c. Hay — Clover, $10.00012.00: timothy hay, $13.00016.00; mixed, $12.00014.00. Straw—$5.0006.00. Indianapolis Produce. EGGS-Weak at U%c. POULTRY—Fowls steady at 13c; roosters, 5c; turkeys. 14c; old toms, 10c; culls, 8010c. BUTTER—Country weak at 12c a pound; Jibbers selling State creamery at 86c; Elgin, 82C. BUTTERINE—Selling for 12©16c. CHEESE—Jobbing prices; Imported Swiss, SOo a pound; old domestic Swiss, 17c; new Swiss, 16c; Wisconsin cream, 13014c; New York Cheddars, 14c; domestic ilmburger, 13c; brick, 14c.

CINCINNATI, March 18.—Eggs—Weak; lower; 12c. Butter—Firm. Poultry—Steady; hens, lie; springs, 15c; turkeys, 10014c. CheeseSteady, ' CHICAGO. March 18.—Butter—Firm; creameries, 18@28c; dairies. 14024c. Eggs—Easier, •at mark, cases included, 13013%c. CheeseSteady; twins, 13c; daisies, 13@13%c; young Americas, 13013%c. Dressed Poultry—Steady; turkeys, 15018c; chickens, 10013c. NEW YORK, March 18.—Butter—Receipts, 5,325 packages; steady; extra creamery, 29c> held creamery, 17@a4c; creamery, common to choice, 19028%c. Cheese—Receipts, 2,742 packages; firm; small white, fall made, I4%c; large colored, fall made, 14%®14%c; large white, fall made, 14V4®14%c. Eggs—Receipts, 5,079 packages; easy; Western fancy, 17c; Southern, 16c; Kentucky. I7c. Poultry—Alive 15c; fowls. 12c; i’estern fowls.

Crude OH.

[Special to The Indianapolis News.]

OIL CITY, Pa., March 18 —The quotations of rude oil for the different fields are as follows: Tlona oil, $1.65; Pennsylvania oil. $1.60; Coming oil. $1.30; Newcastle oil. $1.37; North Lima oil,

$1.11; South Lima oil. $1.06; Somerset oil, 95c; Lacy oil, »5c; BarbcurvlUe oil, 95c; BarbourvlUe

heavy, 65c: Ragland oil. 55c.

Sugar and Coffee.

March 18.—Sugar—Raje, fair centrifugal, 96 test, 3 23-32c;

[gO.

com

cars; com, 172

Chicago carlots: Wheat,

cars; oats, 118 cars.

Estimated cars at Chicago for March 19: Wheat. 15 cars; com. 170 cars; oats, US cars. Clearance*; Wheat. 132,000 bushels, and flow

8,000 packages, wheat ; com, 488,1

els.

1'heat. 132,000 bushels, and flour, equivalent to 170.000 bushels of 18,000 bushels; pats, 21,000 bush-

iraCR, VJ waaavsii,

Corn—Steady; No. 1 white, 42%c; No. 2 white,42%c; No. 3 white. 42%c; No. 4 white, 40%c;

2s registered 2s coupon 3s registered. 1908 3s coupon. 1908 3s small bonds 4s registered. 1907 4« coupon. 1907 4s registered. 1925 ■Xs coupon. 1925 5a registered. 1904 6a coupon, 1904 District of Columbia..

10:15 a.m. 2:17 p.m. Bid. Aak. Bid. Ask. ..107 108 107 108 ..107% 108% 107% 108% ..107% 108 107% 10S

' ■:

ital National Bank tb* business of banks, bankers, Jrtna, corporations, manufacturers and

Mmt ■ 9* Mf.'.A

niUXI, : 'C%«M«r r

o. M. PACKARD. Vice-Prs*Went.

ROBERT M CHURCHMAN. Ass’t Cashier.

108%

108 '

10S%

...106%

107%

106%

...108%

109%

108%

109%

...109%

110%

109%

110%

...135

136

135

136

137%

136

137%

,...103

108%

103

103%

198

103%

,.,.121

Treasury Statement.

WASHINGTON. March is.Vro-clay’s meat of the Treasury balances\n the ger fund exclusive of the $150,000)800 gold reserve In the division of redemption, shows: Available cash balances, *224,725 v »7; gold;.

atatefeneral

r : A vaiiame i. $119,730,957.

St. Louis Metals. ST. LOUIS. March 18.—Lead-Firm, ■i.57V*>. Spelter—Strong, Ufftofc&SEaO.

Indianapolis Cash Prices.

—March 18.—

Wheat—Steady; No. 2 red. 73c track; No. 2 red, 73%c on milling freight; No. 3 red, 43b

track; 73%c track; wagon. 73c

■. 1

42%c; 140. 3 wnne, 4zt*c

No. 2 white mixed, 42e; No. 3 white mixed, 42c; No. 4 White mixed, 40c; No. 2 yellow, 42c; No. 3 yellow, 42c; No. 4 yellow, 39c: No. 2 mixed. 42c: No. 3 mixed, 42c; No. 4 mixed, 40c;

ear. 42c.

Oats—Stronger; No. 2 white, ,3S%c; No. 3 white. 36c; No. 2 mixed, !5%c; No. 3 mixed, 36c. Hay—No. 1 timothy, $15.00; No. 2 timothy.

—Inspections.—

Wheat—No. 2 red, 1 car; rejected, 1 car; unmerchantable, 1 car; sample, 2 car*; total.

5 cars.

Com—No. 8 white, 7 cars; No. 4 white. 7 cars; No 4 white mixed, 1 car; No. 3 yellow, l car; No 4 yellow. 1 car; No. 2 mixed, 1 car; No. 3 mixed. 4 cars; No. 4 mixed, 2 cars; ear, 1 car;

total, » cars. Oats-None.

Hay-None. A. W. Thomson’s Grain Letter.

—March 18.-

NEW YORK,

refining, 3%c; _ molasses sugar, 3c; refined steady; crushed, 5.40c; powdered, 4.SOo; granulated, 4.70c. Coffee—Quiet; No. 7 Rio, 5%c, Molasses—Firm;

New Orleans, 31041c.

St. Louis Wool. ST. LOUIS, March IS.—Wool—Weak and unchanged; Territory and Western mediums, 140 16%c; fine, IS® 14c; coarse. 13016c. The Cotton Market. NEW YORK. March IS.—Cotton-Spot closed quiet; middling uplands, 10c; middling gulf, 10.26c; sales, 300 bales.

SAVANNAH,

esc.

Savannah Turpentine. March 18.—Turpentine—Firm;

very dull. Outside tnterle. but local scalping In-

disposed to play for a reaction

Prospect of a cold

Wheat—Market • est is on a small tcrests were still c

after the recent P, ■$ __ , . _ wave helped them to the extent of Inducing the covering of some shorts. There 1* also raid to be some Inquiry for No. S red wheat for shipment. . . , Ok lbs wbole, however, the cash situation

MEYER & KISER ...BANKERS... 00-314 Indiana Trost Bulldta*. HIGH GRADE INVESTMENTS fiovMrnmMnt, Municipal ani Corporation Bonds Bought and Sold. We offer BANKERS AND PRIVATE INVESTORS immediate service for purchase and sale of GOVERNMENT BONDS. Our DIRECT WIRES to NEW YORK enable us to keep in direct touch with the market. We own and offer subject to sale: Union Traction of Indiana 6s. Indianapolis Street Railway 4s. Indianapolis. Columbus & Southern 5s. Citizens - Street Railway 6s. New Telephone Company 6s. Green County Indiana 4%s. Indianapolis Street Railway Stock. Atlas Engine Works Preferred Stock. Brown-Ketcham Preferred Stock. New Long Distance Telephone Co. c toc fc, Indianapolis Terminal & Traction Co. Stock.. ■ Indiana Title Guaranty & Loan Co. Stock. * Indianapolis Gas 6s.

Terms of Subscription

This stock is offered at public subscription at the price of 106, or Subscriptions will only be received at the offices of the Indiana Trust Union Trust Company. Subscription books will be opened Thursday, March

a. m., and dose at 3:00 o’clock p. m. All subscriptions must be acompanied by a banker’s drpft c certified check on Indianapolis, New York, Cincinnati or Chicago, for 5 per cent, of the amount sul scribed, payable to the order of the Indiana Trust Company, and the balance to be paid to the Indian Trust Company on May 1, 1903. The privilege is granted to subscribers to pay the full amount < their allotment at any time prior to May 1, 1903, and upon such prepayment, interest will be a lowed at the rate of 6 per cent, per annum to May 1, 1903. The engraved stock certificates wi be ready for delivery May 1, 1903. Interim certificates will be issued by the Indiana Trust Compan for full payments prior to that date. The right is reserved to reject any subscriptions and to mab

partial allotments. BROWN-KETCHAM IRON WORKS

OFFICERS s

WM. H. BROWN, Prssident J. L. KETCHAM, Secy, and Treas. WM. R. BROWN, Saperintendent Manufacturers of structural and ornamental iron and steel. Its reputation is coextensiv with the country, and is second to none in the construction business. It has executed contract in all parts of the country, upon many notable buildings, a number of them being for the Unite States Government, whose requirements are very exact. Its work has been passed upon by many c the ablest and best-known architects and engineers in the country, who unreservedly recommen the quality of the work and the manner of its execution. Its plant at Haughville, now a part c Indianapolis, has been in operation twenty-two years, and its plant at Huff’s Station, on the soutl west branch of the Pennsylvania Railroad, near Greensburg, Pa., was completed and put in operatio last year. The management of the company is in the hands of the gentlemen who have conducted it business successfully for over fifteen years.

Condensed Statement, January I, 1903

RESOURCES

Plants $333,030.& ilerchandise Invoice 87,948.4: Miscellaneous Stocks 10,800.0

LIABILITIES

Prefimeif Stock. ^O^OOO.OO Surplus and Prsfits— .. 445,067.20 Accounts and Bills Payable 490,940.30

$1,136,607.59

Cash and Accts. Receivable.... 704,228.1.

;K3|l.l36,607.3

These resources will, of course, be increased $250,000 by the proceeds of this preferred stoc! and the common stock of this plant is to be increased to $200,000, all of which will be paid u and outstanding. The new capital showing of the company will appear thus: Common Stock $200,000.00 Preferred Stock 350,000.00 Surplus 300,000.00 Undivided Profits 45,067.20 statement op net propits The average annual net profits of the company for the last four years were $129,180.90, or ove six times the dividend on the preferred stock.

SURPLUS FUND

For the benefit and security of the preferred stockholders, the Brown-Ketcham Iron-Works has ei tered into an agreement to maintain its surplus fund at not less than $300,000, so long as any of tb present issue of preferred stock is outstanding; to pay all legal taxes or assessments levied or in

posed in this State, and to pay into a

SINKING FUND

each year beginning with February 1, 1914, one-tenth of the net profits of the company, after di ducting the dividends on the preferred stock, for the ultimate retirement of said stock. THE INDIANA TRUST COMPANY IS THE TRUSTEE FOR THIS SINKING FUND AN!

THE REGISTRAR OF THIS STOCK. ~ UEGAUITY OF ISSUE

The legality of this issue of preferred stock has been approved by Mr. John G. Williams, Genen

Counsel for the Vaudalia Railroad Company.

EXPERT’S AND APPRAISERS’ REPORTS

I have examined the accounts receivable, cash in banks, cash in hands of agents, and stocl' shown by the annual statement of the Brown-Ketcham Iron-Works, dated January 1, 190? to $715,028.18, and am of the opinion that they are absolutely good and readily aval able and follectible. - (Signed) E. B. PORTER. a Cashier of the Indiana National Bank, Indianapolii We have made a careful examination of the Indianapolis plant of the Browd-Ketcham Iroi W ks .We know of no shops in which the handling of the material from the mills is unloade 'd distributed through the different shops for fabrication to better advantage at a minimum eosl at these works. The equipment of all cranes with electric pulleys, and with improved motori •also a feature which contributes to the savings over many larger shops. In regard to the mi . . and tools for fabricating the different classes of work, we have to state that they are we) d tod and advantageously located. Many of them are of the latest design and manufacture. Oq i wlodee of these shops has not been acquired on this examination alone, but comes to us through > im? come in contact with them during a period of some seventeen years as inspectors, represeni • thoir customers, and we can unhesitatingly say that we have never had any work at their shop • ng > U there was anv complaint of the work having been unsatisfactory. We have gone over th m “v;«T»vinff report of prices of machinery and tools in detail, and find them to' be below the valu • IWuses We estimate the value of tools and machinery in this plant to be at from $130,900.00 t irr 000 00 Their machinery is kept in good repair and improvements and additions haf bee d nu and from time to time, under the direct supervision of members of the firm, who are no nivVnnable in the line of the engineering profession, bqt are practical men with wide experienc • structural work and shop management. We have made a careful inspection of the new works o Vnwn-Ketcham Iron-Works at Huff’s Station, near Greensburg, Pa., and have to report tba IhLe* workf are well located for structural work These works are equipped with all the necei «nrv machinery and tools for successful fabrication of structural work at the minimum cost of ifoptnre We have gone over the value of these tools in detail, and can safely say that a contive estimate in our opinion, would be from $55,000 to $60,000. We also submit the summary of

MEMBERS CHICAGO BOARD OF TRADE.

cost of buildings and real estate—$51,535. RH I HHIHL . ™, „„ We are well satisfied, from our knowledge of recently built plants m this territory,

—AarasgiHtSg'

The real estate upon which the buildings are situated in Haughville was appraised several years ago dependent and conservative real estate dealers at $12.600. Since then the property has increased consideI have irone through the different buildings erected and occupied by the Brown-Ketcham Iron-Worl vine and have made an estimate of the value of the buildings, and my best Judgment is that the total buildings and improvements is $100,000.00. (Signed) WM. P. JU1 A statement of resources and liabilities of date January 1, im and the statement of earning* for 1899 1900, 1901 and 1902—have been verified by the International Audit Company, of Chicago, and its r the reports and statements of the other experts and appraisers, are on file and may be seen at the office

TTHLISS S'X'OCI*: I»

that thes

THE UNION TRUST CO., Indianapolis.

THE INDIANA TRUST

JOHN H. HOLLIDAY, Pcktat. P ' PDBNZEL,

MEYER & KISER, Indianapolis, lad.

ASsS'