Indianapolis News, Indianapolis, Marion County, 22 April 1920 — Page 20

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THE IXMANAPOLIS NEWS, THLKSDAV, APK1L 1> 1U20.

TMINGIN STOCKS IS imyPROfESSIONAL

SHORTS DRIVE EARLY, BUT HURRY TO COVER LATER. — MOTORS A LEADER

New York Stock Prices

{By Thomson k McKmnon s Wire) —Apnl —

Alaska Gold ., Am. Ayr. Chem AUtt-Chal Mtf

Open.

. 1%

. M 39'i

Low. 1%

Cose. 1\

iS; gr* 9 Sr :i5S , ‘

Am. Can 40 1 ., 42 V* Am. Inter Corp. «3 93% Am. Cotton Oil,. 44

Atlantic GaK. 160

38" 39 S xUi >11

HOE SUPPLY, 13,000; P0ICESD0WN75CT0S1

>p. ?10.40; bulk $14.35® 16.00 {WO. 50c hirher. nio«Uy $1 *.75® 15.75.

Sftwap—Receipts 10.000; slow: aboat, j •toadj^Aoice woo led lambs. $21.50; some

ilMSHLY ACM

Trade Dull in Row

Average Stock Prices

The avertce price of twenty industrial stocks Wednesday was 9S.93. off '3.51 per cent. The average price of twenty active rails was 71.64. off 1.82 per cent. Stocks were heavy to weak in the early period Of Thursday s active session hut recovered generally later. ETasy money and steady buying of standard issues caused heavy covering of shorts. Sales approximated 1.500,000 shares. ^

NEW YORK, April 22.—Stocks were nervous and unsettled at the * _ I Ion, but many the speculative issues which suffered severe losses in yesterday's violent decline recorded substantial recoveries. General Motors made an opening gain of 5 points which soon wag extended to 10, and Crucible Steel, Baldwin Locomotive, American Woolen. United States Rubber, Pressed Steel Car. Vanadium and Replogle rose 1 to 2 points. These advances were offset by further reactions of 1 to I points for Mexican Petroleum, Lackawaoa Steel, shippings and sugars. United * States Steel also sold a frt'-tVjn under yesterday’s lowest quotation. Liberty bonds were in process of further liquidation, with new low records for the second 4‘As, third 4‘As and fourth 4 %*. With the progress of the session, the professional character of the market became more obvious. Shorts directed their attack largely against T'nitod States Steel, which was offered in round amounts down to it%, a lose of t% points. General Motors forfeited its partial recovery and other leaders of yesterday's reaction established lower records. The decline was orderly. In contrast to yesterday's excited dealings, but little support was manifested except at marked concessions. Pressure relaxed appreciably before noon as call money opened at 7 per cent. Sales up to that time approximated 1.000.000 ■ harem. Further recoveries during the Inti rmedtate session carried several leading stocks far above best prices of the morning. Actual gains of S to almost IS points were mad# by Genera) Motor*. Baldwin. U. S. Rubber. fteplotfle and corn products. Call money was freely supplied at the opening rate. . Yesterday's weakest features made additional recoveries in the last hour. Genera! Motors extending its rally to over 2ft points. The closing was Arm.

Am. H. AJL pM.loai* Am. Jem 3»H Am. Linseed ... S3* Am. Lo-jo 07 Am. SmeKuig ... 62 Am. Bxtw 131 Am- S. Foundries 41* Am. T end T... P5* Am. Soma Tob.. SO* Am. Wool 119 Am. Drug Syn... 13* Anaconda . 56* A., T. k 8... F SO* Am. Bosch 111* Beth. Steel "B". 89 Bald win Loco. . .116 Butt# A gap 23 Belt k Ohio ... 30* Brooklyn ». T.. 15

104

155* 20*

102*

FRESH RECEIPTS

OTHER LIVE STOCK MARKETS. ! LAFAYETTE Ind April 22.—Csttte— I i Best heavy shipping steers. 1.300 to 1.500 j S lbs.. SI0.00® 12 50; common to medium J steers. SCO to 1.000 Iba.. $7.00®9.50; choice 5sr.JErpir.-lb. issskh

ERAL SALES AT $16. ‘ T «*is. 140 to ISO Ibe.. good to choice. $10.00 f

j ® 14.00: heavy calves. $7.00® 10.00. Sheep;

*■ j—Choice to fat ewes. $6.00® 10.00: com-:

_. moo to fair sheep, $2 50®3.00; good to SLOWER cb®*® yearlings, $8.00® 10.00: lambs. ** *“l': $14.00® 15.00. Hogs—Car hogs $15.86:

truck hogs. 170 to 225 ibe.. $15.75: 170 U>

GOVERNED CHIEFLY BY CONDITIONS IN WALL STREET.

CATTLE DEMAND

Receipts of Live Stock

1-0

03* ! 132* j 41 * {

95* 89*

120 j Following ia a statement 14 j the Indianapoha live stock

57 * > periods indicatedt . Ill* Eft. Thursday 9*000

235 lbs.. $15.75: 160 to 180 lbs, $15.16; ! 225 to 275 lbs, $14.75; 275 lbs. and up. ‘ $14.25: 140 to 170 !b«.. $11.00: 100 to 140 lbs, $12.00® 13.00: stags. $11.75; roughs.

’ $12.50.

EVANSVILLE. Ind, Apnl 22—Cattle—

of receipts at i Receipts liberal; market slow and weak to market for < lower: choice prime steers, $12.00® 13.00:

j butcher steers, good to choice handy

Cattle. Cairo*. Sheep. I weights. SI 1.00® 12.50: medium to

90* i Offic'l wk ago 118* ’ Same day '19

92S

9.168

1.100

373

1.000

219

Cbea. A Ohio 50* 52 50 52 Canadian PacifiellT* 117* 116* U7*

X A St P StPaul pfd

£Vr*>:

tt 1 ' 79*

£ fy* £ ’*; C. R. I. A P. "A” 70

CtomL Mo^rslS*

corn rZ?

c. 8.. 51* Columbia Gaa m V. S. Food Prod 66

M v 17*

i Wk. thu* far. 29 433 S Same lam wk 3.413 Sam* time 19 30.978

Month to date 98.613 20.944 10.867 Same tun#'19.145.910 21.530 9.951

1.582

487

5.454

3.307

411

726

584

6.140

2.391

224

Sheep. I weights. SI 1.00® 12.50. 300 { $9 0u® 10.50; plain to 5 | 8 75: bulkier preferred.

L&S

common. $7.00 ®

t ®.7P: butcher preferred, good to choice handy weights. $9.50® 12.00. Calves—Receipts fair: choice calves shade higher: others steady: strictly choice calves. $13.50® 14.00; good kinds. $13.50 down: medium. $11.00 down; common. $8.00 down. Sheep and lambs—No receipts. Hogs—Receipt* liberal: market 50®60c lower: gfeod pack

era. 160 to 200 lbs, 536.00; to 150 lbs, $15.25. heavy high.

MARKET NERVOUS AT CLOSE

Few shipments have Arrived in Commis-

>rt a dull business.

sion row. Dealers

owing to lack of supplies. A shipment of Florida

rived in poor condition. They sold at $3.50® 5.00 a hamper.

Asparagus, an arrival from California, is

priced at $2.50® 3.00 a crate.

green Thej

beans srare being

Grapefruit prices continue to Prices range from $4.50 to $7.00.

advance.

The weekly review of fruits and vegetables by the Bureau of Markets says in part: The only leading commodity showing no edvanoe was apples. A heavy movement of both barreled and boxed stock from cold storage during the last two months probably his helped to prevent this commodity from joining in the general advance of produce values. OM onions made sharp gains. while celery- potatoes, tomatoes and sweet potatoes were slightly higher.

over one-half. 3.165

cars moving, as compared with 6.638 last

▼#»k thus far

111.600 46.000 90.000 86.000 — ft i'Y.'Wk

da fa Mew Yavfc. MetUauea e Wife) i*— __—j

*ne let pfd ... Cten. Motors... Gen. Electric. . , Goodn®i ... Great N Ore. , great x a®s... Gulf 8. Steel .. H*rre*ter * Pierce Oil Inter. Paper ... Int. Nickel etf. Inspiration Cop Royel Dutch .. K C. Southern, heyston* Tire . Kennerott Cop KeHy-Spriaafleid Loft Candy ... t eaks. Steel .. Lehigh Valley . Maxwell 1® pfd nm Am. com... Stoh FM. .. S.i'aF— Miami Cep ... Ohio Ges Mo Pme Mid Steel ... M . EAT NaL En A St M. Y On _ M Y. Air B . Katlona Lead Nor, A Wmt, North Pi

12 * . 19 2*0 151* 65* 35* 72*

125

17 77

■ 20* SI* 109 15* 31* 28* 113 17 * 81*

2*7 275 2*5 151* 150* 160* 66 * 65 65* 73 * 72 * 7s5 62 60 61 127 123* 127 17* 16* 17* 78 * 76 77* 20 * 20 20 * ms >88 .fit 33* 31* $3* 2* 28 2* 114* 110* 114* 18 17* 17* 82 * 76 * 81

98 * 94 177* 170* 34* 33

IS 8

,8 118 54 «

il., too 81* 91

82 to 64 to

59 to

58 ** 50 %

58 to

40 % 40 to

40 %

>93 96 to

18 1H>,

it to

fr 70% ion mi 35 8*. % Off , ., .

86 to 33 to

RSL, p%z:

mptm...

Open High th Fish 10 _ Wile end Car. 64 66 hi. Pneu Tool, .88 utfehr PaHi. Co. 94* tsmoiKi Match 118 it Bn. it t Light

sbu

nteehe.

McKinnons Wire)

II $2—

*■ a vn Pierce-A rro* Rtte. Coal. . . Penna R R

fisnomf Republic Steel Sinclair Oil . fieae Shef. ..

ImtSit . 21* »»«wubert 79

'' ! «t *

Twee Co *5* TretM-Cont Oil 17* Teas* Pm. $&%

United Fniit ...205 * 214 * 205'

Union Oil 30 0. S. Steel ... 98 * J|- » Steel pld. 1I«> u. 8 Rubber .. .ICKi

. 70

»1

117 *

95* 21 * 63*

109*

67* 46* 16*

Rubber

! ITTi™

Union Paciflc

. - Ilf

*7* 28* . .,.. 9* ng* 228 ♦2* 43* 116* 117* 40* 41* 96 * 98 * ,5 '*

weTIs

v7‘t., R AZr ,„ s sSlrpZ ir

w.baeb pfd A 22* 10 {Wi i lys-Ovrrlaad.. 21* 65* J Wilson Oo ..... 68* 68 jMarUn Parry Co §6 94* Gx-n Cola . 34*

Flek Rubber .. 32 * Oklahoma Ref . 4* Famous Players . 75* IhsMMO'e Gas * " 35 * Pjw. Pai. Car. .116 W. Maryland .. 9* *sau. Copper .. u * P«f« Msntuettr 23% Worth. Pmm>... 74 *

33* 19 ’j

34* 34

35* 25* 74*

34* 32

■Rl

If 118* 71* 71 49* 58* 23 * ) 21 * 67 34 * 34

116* 9* P'x 10 10* 73* 3* 71 * 74

W^far 786 0^ 108.373 52.161 20 422

■age at Eleven Maiketa.

Estimated Thursday Same day last week bmne day 1919 day 1918. w.wv thoa far 378 Odd 1»M woek 125.000

Same time 1919 415.000 8«ne time 1918. 454.000 Year to date 10.010.000 Seme time 1919 11.797.000 Same time 1918 11.690.000 Same time 1917 10.173.000

—April 22—

The day of reckoning came to hog beyern Thursday. They were placed on Easy street by the greatly augmented receipts of »,600 hogs, and belated trains of the day before had ceueed a layover of 4.132 hoge, which made a supply approximately of 13,600 hogs available for sale. Local receipts were not the only factor favoring lower prices. The total at eleven markets was 111,600, the lar^st for a single day since March 23, nearly three times as large aa a week ago. and 21,006 larger than a year ago. There were 10.006 hogs in three eastern markets which have had light supplies since the railroad strike be-

gan.

There was little trading In the first hour, but finally an outside buyer attracted a seller with a bid of »1«.Q0 for the light hogs and a little later that price was adopted for hogs averaging around 200 pounds and down. One i>uyer said he offered 316.25 for light hogs at the start, but found only m* 0 willing to sell, and he later filled his order at 25c less than he expected. Klngan'e buyer was a big »nd would not take the hogs weighing much more than 200 pounds

as high as $16.00.

He bought hogs averaging up to 225 pounds at $14.75, some weighing up to 250 pounds at $15.50. Hogs weighing nearer 300 pounds sold as low as $15.00. A large part of the business at $16.00 was for hogs such as sold at $16.75 to $17.60 on Wednesday and there waa more business today from $15.75 down than at $16.50 down on the day before. The generkl market was 75c to $1.00 lower than on Wednesday, and $1.50 to $1.75 lower than on Monday and Tuesday. . , w ® r * much lower, with one drove at $15.35 and others from $15.25 down. The prevailing price for good sows "'A* Vl-ftO. but there were a few sales At $12.60. it was estimated that 9,000

hog* were sold.

Good mixed 140 lb*, up sv.$15 50® 16 OO Assorted. 140 to 225 lbs sv. 15 75018 25 Amorted. 275 to 275 lbs. sv. 15 250 15 75 Selected. 275 lbs up 15 00® 15 50

Fat heirs, weighing down to

. 2* . 15 75® 16 00

P*** un<ter 140 4bs. 15 35 down

g^Sfcf «**« - y 15 25 down Feeding r*r- J 15 00 down Sows, ecrording to quality.. It 00012 80 Most of the «o«h 12 00® 12 50 Poor to best ataga. 80-lb. dock 10 00012 75 Sale* in truck market 15 50® 16 50

E** 1 begs s year ago. 21 00 Best light hogs e year ago.. 20 65

20 80021 00

its, 130 to 120

Am.. $14 DO: light pigs. $8.00® 11.00; vwhrtsrHji Cl 1 <?£ V^ r .

roughs. $11.75 $14.60® 15.50

down; extreme

esvies.

, LOUISVILLE, Apnl 22 —Hogs—Receipts. 4.211: best 250 lbs. and up. $lo.00; 165 to 250 lbs.. $16.00; 130 to 165 lbs.. $15.00; Pig*. 90 to 120 Jbs., 512.00; 90 Ibe. down. $10.50: throwout*. $11.50 down. Cattle— Receipt*. 129; steers. $8.00® 12.00; bull*, $7.50® 10.00; heifers. $8.00® 11.00: cows. $5.00 6 9.50. Calves—Receipt* • K- '** veals. $14.00® 14.50: mediu ■ 10.00; cmnmor. $5.00® 6.00. Sheep and lambs—Receipts. 42: best sheep. $10.00; bocks $7.00 down: best fall lamb*. $17.00® 18.00: lighter. $12.00® 14.00. apnng iamb*

$25.00 down.

)LIS CLEARINGS.

LIBERTY BOND PRICES

Clearings ..

The

■I

NjW YORK

^ll*. $3

i#y Market.

32.—'Mercantile paper,

weak, Herting

!2.—Liberty bond 3*• 93.40: first

NEW YORK. April 22 final nrica* today • ere:

RjSf^rA , 4 ' m%r'SiSS; zsn 4*5;. v,ttw

Moat of tales a year ago. Trend f» r Cattle

Lower.

KANSAS CITY. Apnl 22.—Hog*—Re-

rapis. 4.000; all weight* 50c lower; top. $15.00; bulk light and medium. $14.50® 13.00: heane*. $13.50® 14.00. Cattle—Recapte. 2.800: steady: beef steers, weak to 25c tower; best unsold, bulk. $12.00® 12.50; handy weights and yearlings, about steady; fat she stock and steer*, unsteady: good choice veal calves. $14.25 Q 15.00. Sheep— Receipts. 6,000: dipped lambs, mostly 25c higher: best clipped lambs. $18.50; wooled

lambs weak, with no choice offering. CINCINNATI. April 22 —Hogs—Receipts.

7.000: slow; 25® 50c lower; heavies. $15.50® 1850; packers and butchers. $16.50016.75: heavy fat sows. $9.00# 13.50: light pigs. 110 lbs. and less. $10.00 016.00; stags. $8.00® 9.00. Cattle—Receipt*. 1,500; weak: steers. $7.00013.75: heifers, $6.50® 14.00; cows. $6.00011.00. Calve*—Weak: $1.00 lower: $6,000 17-50. Sheep—Receipts. 200: steady: sheep. $4 00® 15-30: lambs steady: lambs. $11.00® 20.00.

BUFFALO. April 22.—Cattle—Receipts.

1.200: dull:; 50c lower. Calves—Receipts;

2.600; $1.00 lower: $8 00® 18.00 “ Receipts, 4,800; slow; $1.00®1.

heavy. SlffooeiO.SO; mixed. $17.50®

light Yorkers and pigs.

ivy. $16.00® 16°50: ^iSS. 1 ^$17°50® 19 75 18.00: Yorkers, light Yorkers and pigs. $17.75® 18.50; roughs. $13.00® 18.50: stags. $8.0010.00. Sheep and lambs—

CHICAGO, Aoril 22.—Feverish ac-

tivity and at times acute weakness characterised the iporn market today. The weakness was ascrioed to fresh

in value of securities In

Vail street. On the downturns in the

price of com. however, strong com- ana sweet potatoes mission houses turned to the buying Shipments decreased side, and rallied the market to yes- } cars moving, as con.,.—

terdxy s final level, and in some cases ! week and with 6.284 during the correspondwell above. Then new setbacks in * week last season. Strike conditions quickly ensued. The opening, which • on th * railroads have had much to do in ranged from * to 6c lower with May I retarding the movement to consuming ovn-

5L«2 to 31.65 and July $1.56 to $1.57*. i

Thomson A McKinnon's Market Letter.

—April 22—

Corn—Liquidation of the deferred deliveries seems to have run its course. There is still considerable friendliness displayed because of the urgent foreign demand for rye and wheat. The much expected movement from the country has not appeared. The market is also helped by a seaboard report that the central powers of Europe have placed an order for corn and deposited gold in the bank. Under these influences the market is likely to prove stubborn, but as we view the situation, the overextension of credits and extravagance in all lines has about reached its climax, and a period of deflation is about to appear It seems advisable to meet all advancing ten-

dency with realizing sales.

Oats—Delayed seeding and cold, wet weather are given more or less prominence in the oats market. It is true seeding is delayed possibly fifteen days, but it seems a little premature to become anxious over the final outcome. Pending the easing in cash situation, the market should prove

stubborn.

Provisions—There seems a cessation of liquidation in the provision market but there is very little new demand. Fresh meats are some 3 cents lower and Cheaper hogs are expected, when the accumulations caused by

labor troubles reach the market.

Stocks—A tremendous volume of business was handled during the first few hours, during which period trading was exceeding

Ther

LARGER PMC OF SPRING WHEAT URGED

WINTER-GROWN CROP SHORT, DEMAND WILL BE HEAVY.

INSECTS THREATEN YIELDS

was followed by extremely rapid fluctuations, but in no instance under

the opening bottom flgures.

Reports of an excellent seaboard demand for wheat and rye helped later to steady corn prices somewhat, and so likewise did midday upturns in the New York stock market. Corn nevertheless closed nervous, l*c net !£yS c to lc Advance, with May $1.66*

Oats paralleled the action of corn. After opening unchanged to l*c lower, including July at 83»; to 84 *c. - the market score! a decided recovery

$8.00® and then descended again,

wn and Provisions, like cereals, gave way under increased selling pressure in sympathy with grain and hogs. Lard touched the lowest prices yet this

season. '

[By Thomson k McKinnon's Wire]

—April 22—

July Sept.

RYE——Open. May 1 96*

1 96

July i 89 CORN— May 1 65

1 62

1 5.*

1 56 1 51 1 49

OATS— May. 92*

July 84* 83* Sept. 73

PORK— May 35 00 July 36 00 LARD— May 18 95

High. 2 00 1 93 1 68

Low. 1 94

Close.

1 95**

1 86 1 87* 1 62 1 66*

1 60* 1 56

1 55

1 49

73* 73*

35 40 36 40

35 36

35 35 36 40

Receipts. 2.600:,, easier: wool lambs. $13-00 “22.00: chped. $12.00©20.00; others un-

0 22.00: changed.

ST. LOUIS. April 22 (U. S. Bureau of Markets) .—Cattle—Receipts. 1,800; market bidding lower: no early cattle sales. Calves— Steady: good and choice vealers. 60e lower. Hogs—Receipts. 8.000; 25® 50c lower: top. $16.75: bulk, light and medium weights. $15.75 016.40: bulk heavies. $15.00# 15.50. Sheep—Receipts. 1.000; msrket steady to 25c lower; top lambs. $18.00; bulK. $18.00. CLEVELAND. April 22.—Hogs—Receipts. 3.500: market 65c lower: Yorkers. $17.10® 17.20: mixed. S17.00® 17.10; medium. $16.00, pigs. $17.25: roughs. $13.75; stags, $10.00. Cattle—Receipts. 500; market steady. Sheep and lambs—Receipts. 2.000; market $1.00 lower: top. $17.5o. Calves— Receipts. 500; market steady: top. $19.50. PITTSBURG. April 22.—Hogs—Receipts, 3.000: lower; heavies. $15.75© 18.00: heavy Yorkers $18.00018 25: light Yorkers, $17.50018.00: pigs. $17.00® 17.50. Sheep and lambs—Receipts. 2.000; market lower; top sheep. $15.00: top lambs. $19.00. Calves—Receipts. 200: market lower; top. $20.00. TOLEDO April 22.—Hogs—Receipts. 2.000; market steady: heavies. $18.00;. mediums. $15.00; Yorker*. $15.50: good pigs. $16.00. Calves—Lower. Sheep and lambs—Steady

19 70

Sept. 20 60

20 50

RIBS—

May 17 77 July 18 50 Sept. 19 25

19 17 18 90 19 05* 19 97 19 65 19 80 20 80 20 40 20 65t

WASHINGTON, April 12.—Reports from the spring wheat regions of a plan for reduced acreage thla year caused the department of agriculture to issue a statement today urging farmers to revise their planting plane. « father conditions and a shortage of farm labor have affected the planting, but etatlstica presented by the department advised increased production because of the poor condition of the winter crop and the continued w orld demand for wheat. The normal requirements for eon®“®Ptl° n and export are about 800.-£?X’-°2 0 bushels. Of this amount only $483,617,000 bushels is indicated from the winter wheat this year. The world demand. It was pointed out, will be as great as usual and none can be expected from Australia because of a poor wheat yield, and the disorganized transportation conditions makes improbable the movement of the 5o,000,000 bushels Russia has announced she will have ready for export. It was pointed out that the estimated 483,617,000 bushels of winter wheat may be even less because of winter killed fields and indications that the Hessian fly'will be unusually active through large areas. The grasshopper menace, the statement also said, is serious in a large part kof the great plains belt.

CORN AND GRAIN BULLET! M For tlM> twenty-four hour* ending at 7.09 s. to., nineteeoth mendisn tirr»» Apni tt:

|ja<S fj. XKjtrlet

South Bend , Warns ,.., atfleld ... al Center . on ar«a« arm land snapolls . .. ibridge City ftete Haute . . . Bloomington ... Columbus ..... Finn—im Paoli XNawrrtilB

turn

FtGldy

Cloudy

Clear

0 01

PtCldy

Clear

dear

Cloudy

Clear

0 01

Cloudy

Clear

0 01

PtCldy

* 0

PtCldy

Clear

Cloudy

Clear

). H. ARMiN(1 TO3T

Metal Prices.

NEW YORK. April

electrolytic spot t . ■ June and July, 19*c. Iron—Firm

Tin—Spot, 82.00c; April

Antimony—10.62c. Metal

April 22.—Copper—Dull: md nearby. 18*®19*c:

May, June and and unchanged, to July. 61.00c.

exchange quotes lead quite: spot. 9.00c; May. 8.75c. Zinc—Weak: St. Louia 7.45 @7.85. At London—Standard

spot. £i00 12s 6d: futures. £103

electrol; ‘ —-Spot,

spot,

copper, 7s 6d:

trolytio snot. £110: futures. £112. Tin

£346.58; future*. £343 15s.

Chicago Potatoes Weak.

CHICAGO. April 22—Potatoes—Weak: receipts. 16 cars: northern round white, sacked and bulk. $7.0007.25; mixed red and white and Wisconsin Bliss Triumphs,

$6.90.

17 95 17 77

ll 70 19 25

18 50 19 12

17 85 17 82 18 57 19 20

•Bid. fAsk. INominal.

Chicago Cash Grain.

i CHICAGO. April 22 —Wheat—No. 4 red. $B.75: No. 4 northern spring. $2.30. Corn —Mixed not quoted: No. 2 yellow. $1 71® 1.72. Oats—No. 2 white. $1.01 * @ 1.02 * : No. 3 white. $1.0001.00*. Rye—Not quoted. Barley—$1.53 @1.73. Pork— Nominal. Lard—$18.75. Ribs—$17.25

@13.00. ^

PRODUCE

.BAB, eshim

Betcfan francs—Demand 50. Guilders—Demand

INVESTMENT INVITATIONS

w ' Breed. Klhotl k Harrison off Marks-^Demand | MU « 0 , $50000000 five-year. heavy r Time * oenvmiblc. gold notea of the

Mr days h £, i 1 .; offered

offer part of an 7 * per cent.

. fold notes of the Sinclair Con- «»■ •-■KSSrt •ri-i« Me . I P* r <'*"* According to the company * atate-

f. rniiMfiie ? w 25, : ■MWri the assets are $250,000,000; the eamf ftflkrJa LV *«*a last year were more than five times the ^ nee 1 ,w«St Hank a-'viafu lubwest charges Investors may exchange per cent., nans accept- foy ten shares 8 per cent, preferred

stock and S* shares of common stock

firm oo th* rente* 58

on frtiiMlon "’W'jsTS KSUMs.'S New York. $t.t«H. **.^-9* wlver

-w.

Statement

COnON PRICES RECOVER.

.ILT

,536,500

cert fi 15 and

Japanese Condition*. Exchange and Stock

Market Cans# Nervou* Trading.

NEW YORK. April 22 —There wa* * renew *1 of yesterday a selling movement at the opening of the cotton market this morning with flrvt prices 10 to 25 point* lower end with active month* selling 35 to 55 points below lest night s dosing figures

"er the cull. This break carried July .08c end October to 34.75c or about 250 points below recent high rec-

ords, which seemed *ufnc»e«t to attract a % <wi deal of covering and probably eom* fresh buying. Price* rallied in consequence. July selling up aharply to 38.47c and Onto her. 35!5c. but the tone of th* market waa nervous and unsettled with sentiment evidently disturbed by the uncertainty of Japanese conditions the decline in exchange

ami the action of the stock market.

Offering* increased ia the early bulge, but were absorbed oo a setback of 1$ or 20 points and the market showed rather a bet-

ter tone late in the morning owing to

~ MfiMawiiMlPillllllillM

and about 69 points "from of the morning Some of the

U received here from the south said spotajeerc not bein^ffered on the de-

In the receipts of cuttle. 1.100 were not enough larger to give buyers an advantage, but they were favored by the reports from other market centers that have experienced considerable loaa In prices and the trend in the local situation was against the seller. Part of the rivalry for heifer stock has disappeared and that kind was 2ftc to 50c lower than on Wednesday. except the fancy light heifers valued from $12.fi0 up. Various kinds of cows were generally steady, but buyers seemed more particular In making selections and sales strictly according to merit meant fewer dol-

lars to the owner.

The demand for steer cattle was not as aggressive as it has been recently, but Is still about equal to the supplies. Choice butcher ateera in small numbers sold as high as $14.00 and in carlots from $13.50 down. There were not enough heavy steers to affect the market. Bulla continued high, compared to other cattle. Prices for a big run of calves. 1,000, were aa much lower as they were higher on the day before and about the same as on Tuesday. There were odd sales, up to $17.50. but $17.00 was the practical top price and other good veals sold at $16.00016.50. Not enough cattle were available for feeders to establish

prices. Cattle.

KILLING STEERS—

Extra good. 1.300 Ibe. Up . .$14 004

bfltifoTc. storage 3^

Tow. $1.7501

No. 2

w __ _

Good to choice. 1.150 13 50 @

14 25 14 00

°??0O

00® 13 56

t» choicei i.100 to

18 00® 13 50

75013 60

lbs. ..

^ I to *

to 1.200 Iba 6tood to ehotca. 1.000 to

1.100 lb*.... __ 12 50® 13 50

Common to medium. 1.000 to

1.100 lbs - --11 50013 50 Fair to good oodar 1.000 Ibe. 11 25013 00 G< HEiySJlS^* riWi-Ung* 13 00014 00

gSUI 2T-"S» u

Good to beet, under 800 iba. 11 50 @13 5° CasuBcr to atedium under ]

600 ibe .

cows—

_____ • 00O11 oe a&S&rSZM&Zs i»rjb - -» - painti mat higher, ami about 00 point* from Jb*-, — ttader * 50® 10 M

i-din-L - tider 10 00

1 1 cutten *. 1 6 OoS 6 M

i to

Covering

tag *0 for July

the rally whi Y and »-00e f

SSTLUS’ffSfl Future* cloeed steady; 88 85c; October 35 44c irsg* W ^

were relatively

aa alao trade buystended to *8.9-r

for October or 45 to 58 ‘ §0 to $0 points above

40 91c; July. fnber. 54 50,

New Tetfc Cattem Fatwwa. fly Thomson k MeKtonoo'* Wire) —April 32—

Open 88.40 85.10 33 95

33 25 41.10 A917

85.80 84-80

KM 38.08 8:3

—April 22—

■3:

3P'i0 4000 84.42

UVRRPOOL. dull: prtces ena fully

April 22

SflS:

:.42d: sakw 3 000

I-.,-

, It was announced.

,! to

ON. Imi April 22.—The »Oon of Ferry and Harrison

county.

QFgg* Su ^* ,i L cantuiat $00,000. and will buy or buiid a elevator at Herr StaUoufi mi the Pennrailroad. in Parry townakip. Thev > pfauaed an order for their bind a! 14 eeuta a pound, delivered at md have pooled their 1930 wool federation ia waC organised In oouaty and the »opetrativ* idea baa rHirTi** UPUiaitliilr^^^ii^siirt^^ii^

• 50® IP $• 8 60®10 00 •”£lo’S 17 00®18 00 13 00O16 00 lu U0«U 09

- » 50019 GO ^ 0 80® 10 09 ... 8 00

.. T -- •

.110 00®

.. 7* 00O100 00 Ma. 7 00010 50 t aoB g 49 Mere Bheep Than Recently. The first run of live mutton stock of any conoequonce that has been here for aome time waa lose than too, and included one drove of 147 clipped western lambs that averaged eightyone pounds, and sold to Gardner at $18.25. said to be Chicago prices for that sort of stock.

Good to

to good he* fen to good cows ds-rtce milker*

CHICAGO April 22 (United States reau of markets report).—CatU«—a^. 14 000; early beef steer* trade limited: few K-lea weak to unrvinly lower: demand arnouoly curtailed by shortage of stock and refrigerator car* for outbound movement of kve atocK and asset product*: account of dunerahred trade mnditiima sane *hipment* to Chicago ordered stopped in Iran *tt: she stock weak to unevenly lower: bull* steady to 25c higher; c» , ve*. 50c loarer:

vealers mostly $14.00® 14 JO

41,0807 Shaw.

I The range of prices of egge. butter and poultry is due to difference* in quotation*

by the various dealers.)

EGGS—Indianapolis jobbers offering country rbipper* for strictlv fresh stock, delivered at Indianapoha. 37® 38c a doxen. loea

off.

POULTRY—Jobber* - buying price* for poultry, delivered »t I''6>*n)»ooUs: Fowls. 31® 35c: large broiler*. 50c; roosters. 17® 16c: ataga i.ee:-l>irkt;ya. 32**hoc. due**. 2022c; geese. 18® 22c: squab*. * dozen.

11 P*- I* to* dozen. $7 JO.

BUTTER—Jobbers' buying prices for packing utock. delivered at Indianapoha 33® 35c. Jobber* aelling prices for cream-

ery butter: Fresh print*, butter. June creamery 59c

CREAM—Indianapolis buyers paying 68c a pound for butter fat. delivered at Indi-

anapolis.

Cii&tiSE—Jobber*' aelling price*: Domes Ue Swim. 00 0 62c: New York full cream. 35c; brick. 32® 33c; Wisconsin lunburger. 37®36c; Wisconsin dsitMta. .ioc New Yoftv Umburger. 87038c: Long Horn. 36«30c; Keuidatel. large. $2.o5; umall. $1.05. NEW YORK. April 22.—Butter—Strong: receipts. 2.681 tubs; creamery higher than extras. 76*4@77o; extra 192 score). 76c; pacing stock, current make No. 2. 42® 43c. Eggs—Irregular; receipts. 9,837 cases; storage packed extra firsts, 47 H® 48c; firsts. 48© 47c; fresh gathered extra firsts. 46® 47c: firsts. 42‘s@45>>ic. Cheese—Firm; no

receipt*.

Poultry—Live, not quoted. Dressed—

Steady and unchanged.

CINCINNATI. April 22 —Butter—Creamery. 621% ©68‘sc: fancy dairy. 60c: packing stock. 25© 41c. Poultry—Fowls. 34c; springers 40055c; roosters. 21c; stags. 26c; ducks. 30c; geese. 12® 20c; turkeys, hens. 40c; guineas, young, dozen. $6.00. Eggs—Fresh gathered. 38c: seconds. 36c;

goose eggs. 80c; duck eggs. 40c.

CLEVELAND. April 23.—Butter—Creamery. in tubs, extras. 70%®71e: packing. 36041c. Eggs—Southern and western firsts, new cases. 42c. Poultry—Chickens. 45 0 50c; light fowls. 450 50c: roosters. 25c: springers. 43® 48c: heavy grades. 36© 36toe; ducks, 30@38c; geese. 30@35e;

turkeys. 35® 40c.

LAFAYETTE. Ind., April 22.—Packers’

buying prices: Butter—30c. Eggs—35c. Poultry—Old cocks. 13c: fowl*. 25®30c:

old tom turkeys. 25c; hen ‘ *

duck*. 15c; geese. 15c;

more.

LOUISVILLE. April 22.—Poultry—Hens. 33c: medium springers. 35 0 45c: dheks. 25c: geese. 26c: roosters. 16c: guineas. $7.50 a dozen: turkeys. 40c. Butter—Packing stock. 35c. creamery. 68c. Eggs—Candled. 37c. KANSAS CITY. April 22—Butter—Creamery firsts. 61c: seconds. 58c: packing stock. 38c. Ergs—Current receipts, a case. $12 JO; firsts. 41‘%c. Poultry—Hens. 32c: broilers. 70®75c; springers. 40c; roosters. 19c. CHICAGO. April 22.—Butter—Unchanged. Eggs—Higher: receipts. 28.330 cases: first?. 41 to®42toe: at mark, cases included. 39® 41. Poultry—Unchanged. ST. LOUIS. April 22 —Poultry—Hens. 32e a lb.; spring*. 44o: turkeys. 49c; ducks. 83c: gsese. 18c. Butter—Creamery. 63c. Egge—

87 toe.

TOLEDO April 22 —Butter—Brick creamery.. 73c. Eggs—Selected, strictly fresh. 44c.

New York Grain. * NEW YORK, April 22.—Flour—Strong; spring patents. $13.75® 15.00; spring clears. $10.50® 11.50; winter straights. $11.25'fj; 12.00: Kansas straights. $13.25 @14.28.

■Firmer: feeding. $1.80: malting. $1.90 o. b. New York. Buckwheat—Firm: good middling. $4.00 a 100 lbs. Wheat—Spot, firm; No. 2 red and No. 2 hard, $3.06. and No. 2 mixed durum. $3.01 f. o. b. steamer. Corn—Spot, weak: No. 2 yellow. $180. and No. 2 mixed. $1.89. cost and freight New York. Oats—Spot, unsettled: No. 1 white. $1.35. nominal. Hay— Firm: No. 1. $3.45 @3.50. Hops—Firm: Pacific coast. 1919. 95c@$l!0; 1918. 90@ 95c. Pork—Firm: mess. $43.00 043.50: family. $62.00 0 53.00. Lard—Weak; middle west. $19.45019.55. Tallow—Steady; special loose. 14toc- Rice—Firm; fan<

head. 14to®15e: B1

13 toe-

slue Rose, fancy. 13 to

XANSA8 H CTTT 0 ^rn SC^Cashf wheat— Unchanged; No. 1 hard. $2.85® 2J)5; No. 3 hard. $2.90; No. 1 red. [email protected]: No. 2 red. $2.800 2.81. Corn—2 to 4c lower: No. 2 mixed. $1.65: No. 2 white. $1.66: No. 2 stollow. $1.08 @1.70. Oats—5c lower than previous sales. No. 2 white, $1.2301.24; No. 2 mixed. $1.0001.01. Corn—May. $1.01 to; July. $1.57 to: September. $1.51 to @1.51 to. CINCINNATI. April 22.—Wheat—$2.91 @

2.93. Corn—No

ly irregular, there was selling both of the —Spot. £39 15s: futures. £41 10s urgent kind as well as the influential, and 1 Spot. £45 10s; futures. £47 5s.

considering the excited state of the public mind in relation to values the market gave a fairly good account of itself. During the early afternoon there was a reasonable degree of steadiness and more moderation in trading. When we attempt to analyze what has occurred and to formulate a view as to the future, we are confronted again by a complicated state of affairs, but. strange as it may seem, nothing new is disclosed. What we have before us has been before us Cor some time and any one who has kept abreast of the times must of necessity know that the credit situation has been strained; that the reserve banks have consistently conducted their affairs to force curtailment but we have ignored it; we have known of the inefficient and inadequate transportation service and its disastrow? effects of tying uq credits. but we have ignored it: we have known that long accounts have

Lead

Zino—

TANK WAGON PRICES.

cteaners.. 26.8c a gal ion

GASOLINE—Red Crown. SUver Flash 30c a galkoa

’* 26 Sc 9 gaile*:

)e 9 g»U*«:

fies otter Skins 8*11 High. NEW YORK. April 22.—Sea otter skin* which featured Wednesday's transaction* i»t the fur sale here, brought price* of $1,300 and $1,025. The day’s sate* totaled $075 000,. making a grand total of $2,125,000 for the first three days.

OTHER MARKETS ON PAGE 21

Dependable eecuritlea at h 1 f h e a t current rates. Thomn* D. Sheerin & Co. Inveatmenr SeemUles. Fletcher Savings and Trust Rider., Indianapolis.

i v

selling as has occurred rallies as a rule follow but we are inclined to think they will temporary and favor taking advantage

dth selling orders

been built up in the market in anticipation of stock dividends, but we have ignored it; we nave known that our business is being practically conducted on call money, an operation that is as risky as the erection of a skyscraper on a sand foundation, but we have ignored it. and when a market breaks violently as the stock market did we brush up on ail these matters and discuss them as though they were new and unexpected and give them the attention that was deserved many weeks ago. Following such heavy lung a- '— —* — . . -

but

be temporary and of them with sellin.

Cotton—The cotton market certainly gave

a good account of itself today. Whether the market was sold out or oversold, the fact remains there was a demand for contracts and this notwithstanding the fact that there is a likelihood of some rather senous labor difficulties in the cotton industry in England, and we may have someIt* in , th * I l ew Bn *l*nd mills at around the beginning of next month. If we are going to enter a period of retrenchment and economy, cotton, of course, will be no exception, but at the present moment there is no assurance of this, the very fact that under-production is complained of mere-

? condition of high prices. We see

nothing at the moment that would be likely to cause a permanent decUne in the value

of cotton.

.70; No.

1.75: No. 3 mixed, mixed. $1.74 @1.751.74. Oats—f

4 yellow.

$1.7601.77;

$1,73 0 No. 3

Rye—$2.08

@2.10. Hay—$43.50 @44.25. DETROIT. April 22.—Wheat: Cash—No. 1 red. $2.85: No. 1 mixed. $2.83; No. 1 white $2.83. Corn: Cash—No. 3. $1.73; -Vo, 3 yellow. $1.78: No. 4 yellow. $1.73; Nd. 5 yellow. $1.69; No. 6 yellow. $1.05. Oats: Cash—No. 2 white. $1!2: No. 3 white. $1.11: No. 4 white. $1.10. Rye: Cash—No.

2. $2.05.

$51.00. Flax—No. 1. $4.34 04.39.' Cash No. 1 northern. $3.00 @3.10.

No. 3 yellow. $1.64 61.05. ‘ white. 95to @08toe. BarleyLAFAYETTE, Ind.. April

oTl. $2.68: No. 2. $2.65. Com—No. 4 or

Corn-

Oats—No. 3 -$1.3501.64. 22.—Wheat—

No7 1, $2.68: No. 2. $2.85. Com—No. 4 or better (63 lb* to the bushel). $1.58. Oats— White. $1.97; mixed. 92c. Rye—No. 2

$1.80: No. 3, $1.77.

ST. LOUIS. April 23—Wheat—Not quoted. Com—No. 4. $1.73: No. 3 yellow. *1.75: May, $1.09 to: July. $1.82 to- Oats— No. 3 white. $1.09; May. $1.00%; Septem-

ber. 76c.

$1.73.

INDIANAPOLIS CASH GRAIN.

turkeys, 35c:,

fancy stock worth w we:

h iMCora—Strong

/* —April 22—

The bids for car lots of grain and hay at the call of the Indianapolis Board of Trade

Seed Prices. Alsike—Prime cash! * 5 s5: DETROrr. April 22.—Seeds—Prime red as. sssr-

YOUR BYES are Nature's gretf sift. Your enjoyment of life depends upon their service to yon. Careforthem. ROBISON COMPANY Optometrists—Opticians No. SO Monument Circle

Indianapolis

Junk Dealers’ Prices.

Indianapolis Junk dealers quote the fol-

delivered at the

stock

lowing prices for

yards:

Folded papers 100 pounds. 75c. Scrap paper. 100 pound*. 60c. Magazines. 100 pounds, $1 JO.

Rsgs, a pound. 3c.

Iron, mixed scrap. 100 pounds. 75c.

Rubber. No. 1. 6c.

Auto Urea. 2^%c a pound

Inner tubes. No. 1.

pound. 14c; N«

o. 2. 7c.

Cylinder and Engine Oil*. (Indianapolis Wholesale Prices] OILS—Prices, f. o. b. Indianapolis: Cylinder. 34.7 0 69.7c a gallon; engine. 38.7® 76.7e; dynamo. [email protected]; turbine. 44.7® 60.7c: machine. 38.7®48.7c; paraffin oil*. 26.7 @31.7c. BLACK OILS—Summer black. 18.7# a gallon; winter black. 19.3c a gallon

Established Public Utility General Mortgage 7% Bonds Due 1933 These bonds of the Monongahels Valley Traction Company are offered at 96 ^ and interest, yielding 8y 4 % Complete circular upon reoueat for nt-m The National City Company ladiaaapolle Fletcher Savings 0 Tract Bid®. Telephone—Main 5011 Correspondent Offices in over 60 Cttlea.

Tie Liberty Bend Idea

During the war Uncle Sam tauffht the people lhat savings and inveftment can be made one and the earn* thing. The Liberty Bonde and Treasury Saving* Certificates, purchasable on inetallmente, enabled email fnveetors to put their money Into good, sound and remunerative securities aa rapidly aa they had funda available. The American Mortgage Company has adopted the Liberty Bond idea. It Is offering theae 7%, tax free, nonassessable shares on the deferred payment plan. This is not charity, but business necessity on our part. We deal in construction loan*. The demand for houses is so great that we have more business than we can handle on our present resources. Money already Invested in this Company ie hard at work now to help meet the home shortage. This money is being turned over rapidly. That is why we guarantee 7%. and that Is why similar companies In other states have been making 10 to lft% more than that Our earnings may run as high, by the end of the year. If the Liberty bond Idea of saving and ( investing at the same tfme, in a good profitable enterblank and^ail the advertisement to us. we will gladly give you the details .

NAME address

I * • a® • »0MMS#«0 #♦ #•'«**•

American Mortgage Company 5 East Market Street

ladlaaapoUs

Old Reliable Stock Paint

FISH BUSINESS QUIET.

Strike Cat* Off Balk of Uaehaagee. The railroad strike with the regular aea•onal deereaae m demand ha* eotaed dull day* *t local fiah and oyster houses. Another factor has been the shortage of gas. t—« Friday s bustneo* waa cut off 40 per coot, because of the low pressure, which interfered with domestic cooking. Shipments from Chicago and the Lake Ene ports arrive with a fair degree of regulari®. but all other centers seem to be cut off from the local market. The snail demand during the last few days ha* been for the staple flahe* including white fiah. hakbut. No. 1 •hlmea sod trout. Oyster atupments have been stopped by the embargo. WAGON WHEAT PRICES.

No. 3 white. $1.73 to 0

1.77 to: No. 3 yellow. $1.7201.76: No. 3 mixed. $1.74 to: No. 4 mixed. $1.71%: sam-

ple mixed. $1.61.

Oats—Strong: No. 2 white. $1.09: No. 3

white. $1.081*.

Hay—Strong: No. 1 timothy. $39,000 39.50: No. 2 timothy. S38.00 @ 38.50: No. 1 light clover mixed. $38.00 0 38.50: No. 1 clover mixed. $37 JO @38.00.

—Inspections—

Wheat—No. 3 red. 1 car. Total. 1 car. Com—No. 3 white. 2 ear*: No. 4 white. 2 ear*: sample white. 1 car: No. 2 yellow. 1 car: No. 8 yellow. 2 cars: No. 4 yellow, 4 care: No. 3 mixed. 8 care: No. 4 mixed. 1 car: sample mixed. 1 ear. Total. 17 ears. Oats—No. 2 white. 13 care: No. 3 white. 3 can. Total. 18 care. Hay—No. 2 timothy. 2 care. Total. 2 care. PRIMARY MARKETS. [Thomson k McKinnon J

—April 22— (000 omitted)

OVER 50% OF THE LEADING INDIANAPOLIS BUSINESS FIRMS BUY HORSES FROM—Q R E G O R Y They Have a Reason!! 319.321 south alabama. maim 4474

FURNACES

We clean and repair any make SINK & EDWARDS 219 N. Delaware it. Ante. *8-463. Main *26*.

LOANS c£ r p",4?r» 5‘/ 2 %to6% BANKERS TRUST COMPANY

Old reliable stock paint will net cost yes ever 83.31 per gallon when thinned down ready for a*e. This le 199% pare Hmoed all paint and Is of far batter quality than other paints that are reiilng at 85.09 and ever per gallon g* why nat buy the bee* M east# yea ieoef Seeing is battarCaase in and let aa she** you thia

—Apn l 22— Indianapolis flour mill* and grain elevator* are paying $2 70 for No 1 red wheat: $2.67 for No. 3 red and S2J2 for No. 3 red Other grades oe their merit*.

NEW TORE. April 32—Raw sugar— Steady: centrifugal. 19J6e: refined, firm: fine granulated, IT JO 038.00c. Future* opened weak and continued to decline during the early trading under liquidation At noon, prices were 25 to 46 points lower. Sugar future* closed steady: *alea. 700 tons. May. 18J6e; July. 18JOc: September. 18.00c; January 15 TOc.

OU Roe an OIL CITY. Ami! 23—Credit balances $6.10: run* Wednesday. 51.611; everage 53.445: shipments. 38.328: average. 40,793

Now York Spot Coffee. 16 toe. NEW YORK. April 23 —Coffee—Rio No. Tj|&toe : futures. sSgadr; May. 14J3c; July.

Chicago ....

R wSt 1A Corn. 18 58

Oat*. Flour. 62 9

Milwaukee ..

MlnneapoU* .

Duluth

. . .

St. Louis ...

.... 7

Toledo

.... 4

Ktnnt City

Pooria

Omaha ...

Indianapolis

e - .

Total* ...

886

285

328

Year ago .

425 605

c rrrpv n* vTh PHI* HUEA 29,

514

Chicago ...

Milwaukee Mir.rteapoli* Duluth St. Loui* ...... Kanea* City .... Peoria Omaha Indianapolis

Wheat. Corn. Oats. Flour.

Total* . .. Year Ago

Baltimore .. Totals . . Year ago

317

3 sop

144 281

225 418

129

CLEARANCES

Dom. WjCorn.Oata.Flour. 18 77

.. 16 .582

96 301

PRICES AT THE HAY MARKET —April 23— r'h^r ’iS’SX. -s £ ■—

BOO.

Corn—$1.70® 1 JO

)®1 J«.

Marlon Paint Company 858 8. Meridian, 1st dear aaath at sisrated tracks.

Mala 0599]

Branch stars, „

Mate

It Ante. 87-778.

‘im-

pure Linseed OQ, $ 1.90 par gallon, when braght with paint, enah at ntors. This In strictly para all, •aid aader U. 8. para food law.

00088 0

ton: mixed. $34,00@36 00: clover. $35.

36 m i ■

a bushel.

Oatn—81.03 C

Straw—Wheat. $8.006900 • ten: eat*.

$14.00® 15.00.

OU {Dentes’

Son ia bnrreMote. $1.96;

boiled. $1.97. TttTpenuae—J - -21.

The Pittsburgh, Cincincinnati, Chicago & St. Louis Railroad Company.

NOTICE.

Pittsburgh, Pa.. March 18. 1920. Notice is hereby given that a special meeting of the stockholder* of THE PITTSBURGH, CLVCINNATI, CHICAGO * ST. LOUIS RAILROAD COMPANY will be held in Room 918. Pennsylvania Station. Pittaburgh. Pennsylvania, on THURSDAY. MAY 27, 1920. at eleven o’clock a. m., for the purpose of considering and acting upon the authorisation and creation of a General Mortgage qpon the Company's property and franchises to secure the payment of bonds which may be issued thereunder from time to time; and of considering and acting upon the matter of the issuance by the Company of tli.000,000 General Mortgage Bonds in lieu of the same amount of Debenture Gold Bonds heretofore Authorised by the stockholders, but which have not been Issued and authority for which may be withdrawn and rescinded by action of the stockholders. By order of the Board of Directors. S. H. CHURCH. Secretary.

American Town Lot Company, Indianapolis, Ind. DIVIDEND NO. 25 The Board of Director* has declared It* twenty-fifth regular quarterly dividend of two (2) per cent., payable May 1. 1**0. upon Its outstanding preferred stock. Check* will be mailed to addresses of stockholders aa recorded on thbooks of the company. Transfer book* will be closed from April 27th to M*y Sd.

Money to Loan on Mortgages STATE LIFE INSURANCE CO.

We Buy Liberty Bonds Breed, Elliott & Harrison

109 North Pennsylvania Strsst INDIANAPOLIS '

TRUCK OWNERS, ATTENTION Avoid Accidents. To bs absolutely safe «M “PREST-O-GRIP” TRUCK TIRE CHAIN Wa ema supply ym throeefa yen daalar VAN CAMP HARDWARE & IRON CO.

Government, Municipal Corporation Bonds Preferred Stocks BECKER & OVERMAN 1310 Merchants Bank BMg., Indianapolis, Ind. sfwwnvna 'Indiana Bankers' Association. punvvs J Main 1999. MEMBERS i Ind j an *p 0lla Stock Exchange. ” WBS 1 Auto. 18-419.

fi% ON SAVINGS PAID-UP CERTIFICATES

Under State

Auditor et State

*• TEARS OLD AND N_. UNION NATIONAL SA

Divideod* Payable Seaal-Aaaually la Cash.)

(DnvMeaMS Asset* svsi

.ftjrtMte

w.T, , sssrKft SftTajsnri* wssl