Indianapolis Times, Volume 32, Number 223, Indianapolis, Marion County, 26 January 1920 — Page 9

Stock Market Hesitates and Then Turns Strong.

PAPER STOCKS PROVEFEATURE Steels, Oils and Equipments Also Stand Out Well. NEW TORK, .Tan. 26.—Although some stocks made upturns at the opening of the stock market today, the tone became heavy after the start, and losses of from fractions to 3 points were suffered iu practically the entire list. Crucible Steel was prominent and rose % to 225, with a quick reaction to 222. Steel common lost % to 105% and Laekawanna 1% to 83%. Baldwin Locomotive, after selling up to 114%, dropped over 1 point, while Republican Steel sold off 1% from its high to 111%. Motor shares were again in large supply, General Motors yielding 2% to 293%, Studebaker 1 point to 100%, and Pierce Arrow 1 point to 66%. Mexican Petroleum dropped 1% to l'J6% ancl fractional losses were sustained in Pan-American Pet and Royal Dntch. , International Paper was prominent, and after yielding % to 81%, advanceu to 83%. > Coppers and. rails were quiet and fractionally lower. There was vigorous buying of marly issues on these declines, resulting In substantial advances. Crucible rose to above 225, Steel common to 105%, General Mo tors to 279% and Baldwin Locomotive to 115%. „ , Paper stocks featured early trading and International Paper at. the end of the first half hour was selling at 85, up 2% net. American Writing preferred advanced 2 to 57%. International Paper, despite large capacity, Is turning down business because of inability to take care of contracts already on hand. Preliminary report on earnings for 1919 la expected shortly and the best opinion is it will show not far from $25 a share for common stock after taxes are deducted. Short interests in International Paper are sanguine that It is not too much to v expect earnings for 1920 to approximate S4O a share for junior issue, with some estimates running as high as SSO a share. Advances in American Writing follows a 20 per cent advance in prices for its products. The market hesitated around noon, ns traders awaited possible rendering or a decision by the supreme court in the stock dividend case. Upon announcement on the floor that no important decisions would bo rendered “those who sold their stocks proceeded to buy them back. Crucible sold off from 226 to 223. As the market entered the second hour leaders reached prices in a naiority of instances above Saturday's highs. Stocks that stood out were steele. equipments, high priced oils and paper issues. Mexican Petroleum sold above t*oO. Freeport Texas sold at 27. off 2. Last week’s high was 23%. NEW YORK LIBERTY BONDS. NEW YORK, Jan. 24.—Liberty bond quotations: First 3%5, 98.88; first 4s, 91.68; second 4s. 90.70; first 4%5, 92.08; second 4%5, 90.90; thirj.l 4%5, 93.40; fourth 4%, 91.28; Victory 3%5, 98.34; Victory 4%5, OS.3C. NEW YORK BANK STATEMENT, NEW YORK. Jan. 24.—Average: Loans, decreased, $45,119,000* demand deposits, increased, $44,799,000; time deposits, increased. $1,991,000; reserve increase, $5,351,970. Actual: Loans, decreased, $44,057,000; demand deposits, decreased. $73,270,000; time deposits, increased, $225,000; reserve decrease, $20,854,060. MOTOR SECURITIES. (By Thomson & McKinnon) —Opening— Bid. Ask. Briscoe ”1 '73 Chalmers com. 3 5 Packard com 26% 27% Packard p£d. -> im -iff ; Chevrolet 350 550 Peerless ..... 44 48 Continental Motors c0m.... 11 14% Continental Motors pfd 100 107 Hupp com 15% 15% Hupp pfd. : 99 102 Jieo Motor Par 26% -27% Elgin Motors 7% 8 Grant Motors 9% 10% Ford of Canada 425 430 Hendee Mfg. ................ 43 47 United Motors > 55 70 National Motors -24% 26 Federal Truck 70* 72 Paige Motors 44 45 Republic Truck 51 54 ACTIVE OIL STOCKS. m (By Thomson & McKinnon.) —Jan. 24 —OpeningBid. Ask. Anglo-American Oil 28 ’ 28% Atlantic Refining 1450 1500 Borne Scrymser 430 450 Buckeye Pipe Line 95 98 f'hesebrougli Mfg. Con 245 265 Continental Oil, Colorado 525 545 Cosdep Oil and Gas 9 9% Crescent Pipe Line 34 37 Cumberland Pipe Line 118 123 Elk Basin Tete 9% 9% Eureka Pipe Line 145 150 Galena-Signal Oil, pfd 108 113 Galena-Signal Oil, com 82 85 Illinois Pipe Line 170 175 Indiana Pipe Line 97 100 Merritt Oil 20% 21 Midwest Oil 1% 2 Midwest. Refining 163 165 National Trausit 53% 34% New York Transit 182 186 Northern ripe Line 100 103 Ohio Oil * 330 365 Perin.-Mex '. 70 74 Prairie Oil and Gas 650 660 Prair-ie Pipe Line 257 262 Sapulpa Refining 6% 6% Solar Refining 300 380 Southern Pipe Line 160 165 South Penn. Oil 330 340 Southwest Penn. Pipe Lines. 195 199 Standard Oil Cos. of Cal 3)8 323 Standard Oil Cos. of Ind 715 735 Standard Oil Cos. of Kas 650 080 Standard Oil Cos. of Ky 435 455 Randard Oil Cos. of Neb 525 550 Standard Oil Cos. of N. .1.... 760 775 RtandanLOil Cos. of N. Y 430 435 Standard Oil Cos. of Ohio 535 555 Swan A Finch 100 115 Lnion Tank Line 126 129 Vacuum Oil 420 430 Washington Oil 35 40 NEW YORK CURB MARKET. (By Thomson & McKinnon.) —Closing— Bid. Asked. American Marconi 5% 5% Curtis Aero com 7 n" Curtis Aero pfd 65 75* Sub Boat 15% 17 First National Copper 1 i% Goldfield Con ;.... 12 14 Havana Tobacco 1% 3 Havaua Tobacco pfd 10 14 Carib 39% 41 .lumbo Extension 6 7 International Petroleum... 60 68 Nipissing 11% 11% Indian Packing Cos 17% 18 Houston Oil 125 135 Royal Baking Powder 135 145 Royal Baking Powder pfd. 94 97 Standard Motors 9 12 Asphalt 113% 114% Salt Creek 4§ 50 Tonopah Extension 2% 2% Tonopah Mining...-. 2% 2% United P. S. new 2% 2% U. 8. Light and Heat.... 4 3% 3% U. S. Light and Heat pfd.. 3% 4% Wright-Mattin 4 4% World Film \ % % Yukon Gold Mine Cos 1 1% •Terome % % New Cornelia 21 22' United Verde 39 42 Texas Chief 38 41) Sou Trans 7 7% Sequoyah 7-16 % Omar 6 6% Republic Tire "5 5% CHICAGO STOCKS. (By Thomson & McKinnon.) „ ~ Open. Close. Carbide and Carbon 74 74 Chicago Pneumatic Tool 97% 97% Cudhay Packing Cos ..... 103 103 Libby 27% 27% Lindsay Light 7% 7% Sears-Roebuck 225 223 Stewart-Warner ;...... 43% 43%; Swift A Cos 125% 126% Swift International 54 54% Armour pfd 100% 110% National Leather 15% 15% Montgomery-Ward .. 88% *B%

COMPLETE and ACCURATE MARKET REPORTS

| Local Stock Exchange | STOCKS. Bid. Ask. Ind. Ry. & Light com 55 60 Ind. Ry. & Light pfd....... 90 96 ludpls. & Northwest, pfd 75 Indpls. & Southeast, pfd 75 Indpls. St. Ry 55 T. ft., T. A Light pfd 79 T. H„ I. A E. com 2 T. H.. I. A E. pfd 9% ... U. T. of Ind. com 2 U. T. of Ind. Ist pfd 4% ... U. T. of Ind. 2d pfd 3 Advance-Rumely Cos. com... 41 Advance-Rnmely pfd........' 70 Am. Central Life 285 4m. Creosoting Cos. pfd 97 Belt Railroad com 115 122 Belt Railroad pfd.... 53% ... Century Bldg. Cos. pfd 99 Cities Service com 402 407 Cities Service, pfd 72% 72% OilizensiGas .. 36 ... •Citizens Gas, prior to 1917.. 36% ... Dodge Mfg. Cos. pfd 98% ... Home Brewing 50, Indiana Hotel com 75 ... Indiana Hotel pfd 99 Ind. National Life 4% ... Ind. Title Guaranty 64 72 Indiana Pipe Line 100 Indpls. Abattoir pfd. . 49 Indpls. Gas 53 56 Indpls. Tel. Cos. com 4 8 Indpls.. Tel. Cos. pfd 73% 53% Law Building 93 Lemcke Realty Cos. pfd 95 Mer. Pub. Util. Cos. pfd 46 53 National Motor Cos 24% 27 Natl. Underwru. Cos Public Savings 2% ... Rauh Fertilizer pfd 50 ... Standard Oil of Indiana 715 Sterling Fire Insurance 8% 9% Stutz Motor C 0.., ... Van Camp Hdw. pfd 99 Van Camp Pack, pfd 101 Van Camp Prod. Ist pfd 100 ... Van Camp Prod. 2d pfd 100 Vandalia Coal cem 5 Vancjalia Coal pfd 11% 14% Wabash Railway c0m....>.. 7 Wabash Ry. pfd 22 BONDS. Broad Ripple 5s 55 Citizens Street Ry 5s 82 86 Ind. Coke A Gas Cos 6s 96 99 Ind. Creek Coal A Min fls... 98 ... Ind. Northern 5s "... ... Ind. Union Trac 5s Indpls., Col. A South 5s 88 ... Indpls. A Greenfield 5s 97 Indpls. A Martinsville 5s 56% ... Indpls. A North 5a 43% 48% Indpls. A Northwestern 55.. 55 65 Indpls. A Southeast 5s 40 49 Indpls., Shelby A S. E. 55... 64 Ind. St. Ry 4s 61 68 Indpls. Trac A Ter 5s 63 Kokomo, M. & M. 5s 84 86 T. H., T. A *4. 5s Union Trac of Ind 65.. 63 70 Citizens Gas 5s 83% 87 Indiana Hotel 2d 6s 99 101 Indpls. Gas 5s 80 85 Ind. L. A H. 5s 81 86 Indpls. Water 4%5.... 74 79 Indpls. Water 5s 93 96 Merchants 11. & L. ref 55.... 90 94 New Tel Ist 6s 93 New Tel 2d 5s 98 New Tel Long Dis 5s 91 South Ind Power 6s 94% 98% BANKS AND TRUST COMPANIES. Aetna Trust 101 Bankers Trust 115 City Truht 80 Commercial National 72% 81 Continental National 111% Farmers Trust 390 .. -- Fidelity Trust 111% ... Fletcher American Natl 257 Fletcher Sav A Trust Cos 1*36 ... Indiana National 278 ... Indiana. Trust 205% 215 Live Stock Exchange 382 Merchants National 261 National City 114 118 People’s State 170 ... Security Trust 113% ... State Savings A Trust 95% 97 Union Trust Cos 365 ... Wash Bank A Trust Cos 130 LIBERTY BONDS. Liberty 3%s 98.68 99.10 Liberty first 4s 91.72 Liberty second 45.... 90.70 Liberty first 4%s 92.08 92.3.8 Liberty second 4%s .91.00 91.06 Liberty third 4%s 93.40- 93.46 'Libertjrfourtb'4%s 91.28 91.3S Victory 3%s 98.38 98.58 Victory 4%s 98.38 98.58 SALES. 30 shares National Motor 25 Local Bank Clearings Saturday .'.s 3,026.000 Same day last year..... 2,105,000 Increase over last year $ 9,213,0|R> Clearings for weel. $17,261,000 Same week last year 14,133,000 Increase over last year i$ 3,228,000 Wholesale Meats - Smoked meats shown call for discount of %c lb for order of 150 of one Item; 250 lbs and over discount of %c lb, PORK. HAMS— Regular, 14 to 16 lbs .32 Skinned, 12 to 14 lbs .34 Fancy boiled - .48% BACON— Fancy breakfast, 5 to 7 lbs.. .48 Sugar cured, 14 to 16 1b5.... .31 Sugar cured squares ,28% Fancy sliced, 1-lb cartons.... .53 PICNICS— Sugar cured, 5 to 7 lbs .25 SALT MEAT— Dry salt jowl butts .19% LARD—i Refined, tierce basis -26% I Open kettle, tierce basis .27% FRESH PORK— Spare ribs. .22 | Shoulder bones...’. .09 ! Tenderloins 52051 ! Dressed hogs .23% ; Light loins, 7 to 9 lbs .27% I Extra light loins, 4 to 6 lbs.. .29% | Fresh boneless butts * .31 Boston butts .24 j Skinned shoulders .22 SAUSAGE—j Breakfast, in 1-lb cartons.... .30 ! Standard, fresh bulk .18% Frankfurts, hog casings .19% FRESH BEEFS. The following prices are on first quality No. 1 government inspected meats only: Medium steers, 400 to 500 lbs. .17 I No. 2 heifers .45% : Native cows 15%@16% Medium cows ’ .13 LOINS— No. 3 / .20 RIBS— No. 2 .37 No. 3 V... .20 ! ROUNDS—- ! No. 3 .20 * CHUCKS— No. 3 .15 PLATES— No. 3 .12 VEAL. CARCASSES— No. 1 quality 25027 No. 2 quality 14%@18% WEATHER CONDITIONS, 7 A. M. A disturbance which appeared on the north Pacific coast Saturday night moved across the Rocky mountains during Sunday and is now centered over northern Minnesota. During Its passage It caused considerable precipitation in the northern tier of states between the north Pacific and the lakes, and a marked' rise in temperature has resulted- from the middle Mississippi valley northward. Another field of high pressure has made its appearance in the Canadian northwest and the temperature there ranges from 15 to 20 degrees below zero. Cold weather continued In eastern sections over Sunday, and there lia been considerable precipitation in the south Atlantic states. J. H. ARMIN6TON, Meteorologist. CLEVELAND PRODUCE. CLEVELAND, Jan. 26.—Produce: But-ter-Creamery in tube, extras, 68%®69c; extra firsts, 67%@68c; firsts, 66%@67e; prints, 1c higher; seconds, 62@63c; packing, 45c. Eggs—Northern extras, 70c; extra firsts. C9e; northern firsts, new cases, 68c; old oases, 67c; southern and western fiesta, new cases, 66c; . refrigerator extras, 55c. Poultry-Live fowls, 32@83c; heavy grades, 36040 c; roosters, old, 21022 c; springers, 29@30c; heavy grades, S2@34e; ducks, 36@?£c; geese, 25033 c; turkeys, 3C@SBc.

SWINE PRICES GO UP 40 CENTS * Receipts of 7,000 Insufficient to Cope With Local Demand. COMPARATIVE SALES. Good Good Good Choice Mixed Light Jan. Heavy. Hav< Heavy. 20. [email protected] [email protected] 21. [email protected] [email protected] [email protected] 22. 15.75 @ 15.90 [email protected] 15.75016.00 23. 16.00 15.76 @ 16.00 [email protected] 24. [email protected] [email protected] 16.00 £6. [email protected] [email protected] [email protected] Developments In the hog market on the opening day this week were practically what the "dope" at the close of last .week indicated they would be. The receipts of 7,500 hogs were more than 6,000 smaller than the daily average so far this month, and with a good outside demand there was not enough baUast among the local buyers to prevent higher prices. In extreme* cases there was an advance of 50c, but usually the gain was not more than 40c and there were some of the sales no more than 25c higher. The good hogs, averaging less than" 225 pounds, sold mostly at $16.40, and the heaviei grades largely at slt>.2s, against $15.75 @l6, .the range in sales at the close of last week. There was a tip top price of $16.50, the highest hogs have sold In the local market since the early part of last October. There was the general advance In tho prices of pigs that sold from $15.50 down and the sows that, sold from $14.25 down were steady. All were sold. Cattle. - Competition In the cattle market was strong enough that It did not take buyers long to decide they ] would have to pay a premium In prices over those prevailing at the close of last week and consequently there was no delay in getting business started. The demand seemed keenest for the female butcher cattle, but there were not enough steers In the offerings to interfere with a speedy clearance and the consensus of ideas Indicated there was a general advance of 25c in the list of prices. In addition to the galu last week many of the fat cattle are now selling around $1 higher than tlfey did last Monday. There was a strong market for calves, with veals that were not top kinds at $22. There was the usual quiet Monday market for feeding cattle. f Sheep. Fewer than 100 sheep nnd lambs arrived for the initial market tbis week and they were soon sold at quotably steady prices. The best lambs here brought S2O and the heavy ewes sold up to $lO. CATTLE. —Steers — Prime rornfed steers, 1,300 lbs. and up $17.00018.50 Good to choice steers, 1,300 lbs. and up 16.00017.00 Common to medium steerß, 1,300 lbs. and up [email protected] Good to choice steers, 1,100 to 1,200 lbs .. [email protected]; Common to medium steers, 1,100 to 1,000 lbs 12.00@ 13.00 Good to choice steers, 900 to 1.000 lbs [email protected] Common to medium steers, 900 to 1,000 lbs [email protected] Good to choice yearling# [email protected] —Heifers and Cows— Good to choice heifers [email protected] Fair to medium heifers [email protected] Common light heifers 7.000 8.00 Good to choice cows [email protected] Fair to medium cows 8.000 9.00 Canners and cutters 5.00@ 7.00 —Bulls and Calves— Good to prime export bulls. . [email protected] Good to choice butcher Lulls 9 oOfd>io.o Bologna hulls 7.00 fa 8.00 Common to best veal calves.. 13.0<)@22;00 Common to best heavy calves [email protected] Stockers and Feeders Cattle— Good to choice steers. 800 lbs. and up [email protected] Common to fair eteers. 800lbs and up [email protected] Good to choice steers, under 800 IDs 10 [email protected] Common to fair steers, under 800 lbs 8.000 9.50 Medium to good cows 6.250 7.25; Medium to good heifers 7.000 7.50 Fair to best milkers [email protected] Stock calves, 250 to 450 lbs.. [email protected] HOGS.. Good to best heavies. 250 lbs. ( average up 15.75 Good, 225 to 250 lbs average 15.00016.00 | Medium and mlxeu, 150 ins. and upward 15.90016.00 L Good to choice hogs, 150 to 225 lbs 10.00 : Common to good lighto. down to 140 lbs [email protected] j Roughs and packers [email protected] I sows [email protected] i Best'pigs, under 140 1b5.... 14.75015.00 | Light pigs 14.50 down Bulk of good hogs 7.. [email protected] SHEEP AND LAMBS Good to choice sheep [email protected] .Ccotnrnon to medium sheep .. 5.00@ 8.00 'Good to choice yearlings 12.004 t 13.0<i 'Common to medium yearlings 10.00% 11.00 i Good to choice lambs 18.00020.00 i Common to medium bun os ... [email protected] Bucks, per 100 His 6.500 7.30 J Other Live Stock EAST ST. LOUIS, Til., Jan. 24.—Cattle —Receipts none; market steady; no quotations. Hogs—Market steady, with an advance of 10@15c lower; top, $15.75; bulk, [email protected]. Sheet) —Market steady J no quotations. CLEVELAND, Jan. 24.—Hogs—Receipts, 3,500; market 40@50c higher; vorkers, $16.50; mi*xed, $16.25; medium, $16.25; Pigs. $16.50; roughs, $13.75; stags. $lO. Cattle—Receipts. 250; market active. Sheep and lambs—Receipts, 1,000; mar. ket steady; top, $20.75. Calves—Receipts, 206; market steady; top, $23. CHICAGO, Jan. 24.- Hogs--Receipts, 31,000 j market, 23c higher; bulk, $18.35 @15.65; butchers, . $15015.70; packers, sM@ls; light, [email protected]; pigs, $13.75@ 14.73; roughs, $11014.50. Cattle—Receipts, 2,000; market, 25@30c lower; beeves, [email protected]; butchers, $6.75014,25; canners and cutters. [email protected]; Stockers and feeders. $6.75012.50; cows, $6.75@ i 14.25; calves, [email protected]. Sheep—Re- | eelpts, 2,000; market, 25c higher; lambs, ! [email protected]; ewes, [email protected]. PITTSBURG, .Tan. 24.—Cattle—Receipts light, market steady; choice, $14.50 @l3; good, [email protected]; fair, $10011; veal calves, $21@22. Sheep and lambs—Receipts light, market steady; prime wethers. $13013.50; good, $11.50012.50; fnif mixed, $0011; spring lambs, $13@21. Hogs—Receipts light, mnrket steady; prime heavy hogs, $15.65015.75; mediums, $16.35®18.50; heavy yorkers, $16.35@16 50; light yorkers. §[email protected]; pig><, $15.50@ 16; roughs, $12@14; stags, $10010.50. EAST BUFFALO, N. Y„ Jan. 24.—Cattle—Receipts, 500; market, slow and steady; prime steers, $10@17; butcher grades, [email protected]; cows, [email protected]. Calves —Receipts, 200; market, active, steady; culls to choice, [email protected]. Sheep and lamlis —Receipts, 2,600; market, active, 25c@$t higher; choice lambs, $21.50 @21.75; culls to fair, $14@21; yearlings, $17@19; sheep, [email protected]. Hogs—Receipts, 4,800; market, active, steady; Yorkers, $10.60; pigs, [email protected]; mixed, $10.60; heavies, [email protected]; roughs, [email protected]; roughs, sll@l2. WHOLESALE PRODUCE. The following prices are paid for poultry by local dealers: Eggs—Fresh, 65c doz. Poultry—Fowls, 30e; springs, 30c; cocks, 18c; old tom turkeys, 35c; young tom turkeys, 12 lbs. and up, 40c; young tom turkeys, 2 lbs and up, 40c; young hen turkeys, 8 lbs. nnd up, 40c; cull thin turkeys not wanted; ducks, 4 lbs. up, 27c; ducks, under 4 lbs., 23c; geese, 10 lbs. up, 22c; guineas, 2-lb. size, per doz, $10; squabs, 11 lbs. to doz., $6; capons, 7 lbs. up. 38c. Butter—Clean packing stock, 37c lb.; fresh creamery butter in prints Is selling at wholesale at 64c; in tubs, 63c. Butter Fat—lndianapolis buyers are paying, 64c lb. ' Cheese (wholesale selling prices)— Brick, 37c lb.; New York cream, 3sc; Wisconsin full cream, 36c; Longhorns, 37c; Umburger, 38c. CHICAGO PRODUCE. CHICAGO, Jan. 2.—Butter—Creamerry, extras, 64c; creamery, firsts, 61c; firsts, 58@63c; seconds, 55@57c. Eggs- Oordinaries, 51@61e; firsts, 60c. CheeseTwins. 29%@30c; young Americas, 31% @32e. Live poultry—Fowls, 33c; ducks' 34c; geeie, 27c; spring chickens, 30r; turkey*, 10c. Potatoes—Receipts. 21 cars; Wisconsin and Minnesota, [email protected].

INDIANA DAILY. TIMES, MONDAY, JANUARY 26, 1920.

WEAK DEMAND DROPS GRAINS Market Is Dull and Confined to Scattered Buying. CHICAfip, Jan. 26.—Grain futures on the board of trade today were slightly lower. Cash grain was also a shade lower. A weak eastern and foreign demand, due to lack.of cars and light receipts were the depressing influences. The market was dull and local with a scattered buying at the outset by locals. Provisions were steady. January corn opened l%c up, at $1.46%, but later lost 1%.) May corn up %c on opening at $1.36%, subsequently lost %c. July corn opened at $1.33%, up %c, but receded later to 1.32%. May oats opened at 83%c, up %, and dropped %c before noon. July oats up %c on opening late at 76c, remained unchanged. CHICAGO GRAIN. —Jan. 24CORN—Open. High. Low. Close. Jan. 1.45 3.45 1.44% 1.45 + % May. 1.35% 1.30% 1.35% 1.35% f % . July 1.33% 1.33% 1.32% 1.33 * % OATS--.Tan. 87% 87% 80% 86%’ May. 83% 83% 83% 83% t % July 75% 76% 75% 75% t % PORK-- , Jan. 39.25 39.25 39.25 33.25 t .25 May. 39.30 39.30 39.20 39.30 f .25 LARD—.Tan. 23.40 23.60 23.40 23.00 t *2B May. 24.25 24.50 24.23 24.50 T .25 July 24.70 24.80 24.70 24.80 f .25 RIBS— Jan. 19.90 19.90 19.90 19.90 t - 80 May. 20.65 20.80 20.02 20.80 f .20 July 21.00 21,10 21.00 21.10 t .77 •Decrease, jlncrease over yesterday’s close. _______ ’ CHICAGO CASH. CHICAGO, Jan. 24.—Wheat—No. 2 red, $2.61 @2.63; No. 2 hard winter, [email protected]; No. 3 hard winter, $3.55; No. 2 northern spring $3.02 Corn —No. 3 white, $1.50; No. 3 vellow, $1.55; No. 4 mixed, $1.47@ 1.48; No. 4 white, $1.48%@t.50; No. 4 yellow, $147®i.50%. Oats—No. 2 white, 88.@89c; No. 3 white, 87%@88%c. TOLEDO CLOSE. TOLEDO, Jan. 24.—'Corn—No. 3“ yellow, $1.54. Oats—No. 2 white, 90@91c. Barley—No. 2 $1.48. Rye-No. 2, $1.74. Clover seed—Cash nnd January, $36.25; February, $35.60; March, $35.10; April, $34.60. Aisike—March, $36. TimothyCash (1917 and 1918). $6.80; cash (1919) and January, $6.90; March and April, $7; May, $6.80. Butter—Brick creamery, 66c. Eggs Strictly fresh, 70c; fresh candled, •65c. Hay—No. 1 timothy, $36; No. 2 timothy, $35. PRIMARY MARKETS. —Jan. 24 — (Thomson & McKinnon.) —Receipts— Wheat. Corn. Oats. Chicago 14,000 238.000 150,000 Milwaukee .. 3,0n0 20,000 52,000 Minneapolis,. 385,000 tS,O> , O 54.000 Duluth 11.000 : 2,000 St. Louis 58,000 135,000 IM.onn Toledo 2,000 3,000 4,000 Detroit 2,000 5,000 Kansas City. 214.000 36,000 19,000 Peoria 6,000 107,000 38,000 Omaha 29.000 83,000 22.00*) Indianapolis.. 13,000 ,70,0<X) IS.Ot/O Totals 797,000 762,000 513,000 Year ago... 848.000 726,000 987,000 —Shipments— Wheat. Corn. Oat-. Chicago Ill,o<#> 191,000 362.000 Milwaukee .. 57,000 100,000 10,000 Minneapolis.. 189,000 19,000 61,000 Duluth 15,000 2,O0(, St. Louis 51,000 , 68,000 IOI.OOq Toledo 3,000 7,000 2,000 Kansas City. 105,000 11,000 39,000 Peoria 1,000 30,000 45,(W)0 Omaha 89,000 48,000 60,000 Indianapolis.. 2,000 14,000 18,000 Totals 083.000 027,000 700,000 Year ago... 317,000 i 525,000 1,127,009 ■—Clearances— Pom. W. Corn. Oats. Philadelphia .. 55.000 Now Orleans. 185,000 Total* 240,000 Year ago... 562,000 CO MI*A R A TIV E STATEMENT. —Jan. 24. Output of Flour— Bbls. Jan. 24. 1920 17,900 •Tan. 17, 1920 18.411 Jan. 25, 1919 5,872 Jan. 26, 1918 6,138 Inspection for Week—-s-1917. 1918. Wheat 13,000 19,000 Corn 481.000 132,000 Oats 226,000 78,000 R.ve 4,000 None Hay, 19 cars. —Stocks In Store— Wheat. Corn. Oats. Rye 1 Jan. 24, 1920.499,620 231,190 82,580 3,570 .Tan. 25, 1919.281.220 653.780 263,740 16,500 | Jan. 26, 1918. 34,110 o<fc,lßo 435,250 12,360 INDIANAPOLIS CASH GRAIN. —Jan. 24Corn Strong; No. S white, $1.57; No. 4 white, $1.54%@i.55V>; No. 3 yellow. *[email protected]; No. 4 yellow, $1.50%@1.11; No. 6 mixed, [email protected] Oats—Strong; No. 2 white, 90%@91c; No. 4 white, 90%C. Hay—Firm; No. 1 timothy, [email protected]; No. 2 timothy. S3O@3OJO; tight clover mixed, 830(030.50; No. 1 clover mixed, $29.50® 30. —lnspections Wheat—No. 2 red, 2 cars. Corn—No. 3 white, 4 cars; No. 4 white, 13 cars; No. 5 white, 5 cars; No. 3 yellow, 1 csr; No. 4 yellow, 9 cars; No. 5 yellow, 7 cars; No. 3 mixed, 1 car; No. 4 mixed. 1 car; No. 5 mixed, 1 cur; No. 6 mixed, .1 car; total, 44 cars. Oats—No. 1 white, 7 ears; No. 2 white, 17 cars; No. 3 white, 3 cars; No. 4 white, 1 car; total, 28 cars. Hay—Standard timothy, 1 car; No. 2 timothy, 2 cars; No. 1 clover mixed, 1 ear; total, 5 cars, WAGON MARKET. The following are the Indianapolis prices of hay and grain by the wagon load: Hay—Loose timoth'y, $33@35 a ton; mixed, $30@33; clover, $30@33. Corn— 90@92c bushel. Straw—Wheat, SB@S) ton; oats, $14@15. WAGON WHEAT PRICES. Indianapolis elevators and mills are paying $2.55 for No. 1 white, $2.52 for No. 2 and $2.49 for No. 3. AH other grades according to quality. Weather in Other Cities Bar. Temp. Weath. Atlanta, Ga 30.34 32 Rain Amarillo, Tex. .... 30.16 28 Clear Bismarck, N. D. .. 30.00 4' ’ Cloudy Boston, Mass 30,88 2 Cloudy Chicago, 111. > 30.34 12 Clear Cindnatl, O. ...... 30.46 14 Clear Cleveland, O. ...... 30.50 8 Clear Denver, Colo 29.88 54 Cloudv Dodge City, Kas. . 30.10 42 PtCldy Hefena, Mont 30.00 8 Snow Jacksonville, Fla. . 30.20 50 Cloudy Kansas City, Mo. .. 30.20 28 Clear Louisville, Ky. .... 30.44 20 Clear Little Rock, Ark. . 30.34 SO Cloudy Los Angeles, Cal. . 30.02 56 Clear Mobile, Ala 30.12 46 Cloudv New Orleans, La. . 30.18 46 Cloudy New York, N. Y. .. 30.80 12 Cloudy Norfolk, Va 30.64 28 Snow Oklahoma City .... 30.26 28 Cloudy Omaha, Neb 30.00 26 PtCldy Philadelphia, Pa. . 30.80 12 Cloudv Pittsburg, Pa. .... 30.56 20 PtCldy Portland. Ore 29.98 40 Rain Rapid City, S. D. . 29.84 34 Clear Roseburg, Ore. ... 20.00 52 Rain San Antonio, Tex. . 30.32 32 *Clear San Francisco, Cal. 30.10 50 PtCldy St. Louis, Mo. ..... 30.36 20 Clear St. Paul, Minn. ... 29.80 22 CloOdv Tampa, Fla 30.08 66 Cloudy Washington, D. C.. 29.76 18 Cloudy Observation taken at 7 a. m., Jan. 26, 1920, by United States weather bureaus. ROUNDUP nets 600. BUENOS A IRES, Jan. 26.—Six hun- ' dred prisoners were taken in tile recent I police roundup made In an effort to stamp j opt crop incendiarism and assaults and j robberies In connection with the agrarian j •trike, It was announced.

On Commission Row 1 £ Oranges off 25c a box Saturday. Now selling at $4.25 to $5.25. Receipts are heavy, dealers say. Grapefruit was off 25c box to $4.25. Dealers are forced with a cut in order to keep stock moving. Cauliflower was advanced 25 cents a box to $2.75. Offerings of cauliflower are limited. The demand has dropped off also, dealers gay. Carrots were raised 25c a bushel Saturday. Now' priced at $2. Dealers report offerings hard to find and commanding uniformly higher prices. Florida repacked tomatoes arrived Saturday. These are fancy stock known to the trade as Diamond (4 brand. Dealers priced them at $7.50 carrier of,, six baskets. Cucumbers were dropped 25c dozen. Now quoted at $3.75. At this price they are too much of a luxury to enjoy wide sale and dealers say the new prifce was made necessary in order to stimulate sales. Turnips were up to $3 bushel Saturday. This Is an advance of 25 cents. Dealers report a scarcity in the supply of turnips. This Is a condition that prevails in all markets, they say, not alone Indianapolis. Onions were up $1 hundredweight Saturday. The Indian red and yellow now quoted) at $7 and the western yellow at $7.50. Spanish onions took a drop of 25 cents a forty-pound basket at the same time. They are now selling at $2.75. Dealers report a plentiful supply of the Spanish onion and a scarcity of the Indian and western varieties. This, they say, is responsible for the new prices. TODAY’S FRTCES. Apples—ln barrels: Extra fancy Red Jonathans, sl2; extra tancy Grimes Golden, $11; Baldwins, $8.50; Ore-nines, $2; Hubbardson, s9@ll; Jonathans. s9@ 19.50; ; Rome Beauties. [email protected] Kings, $9; Wine $10; Maine Northern, $10; Wealthy, $; York Imperials, $9; Kinnaird Favorites. SS; Grimes Golden, No. 1 grade, $9. In boxes: Rome Beauties, 80s to 150s, $3.50; Grimes Golden, 90s to 1755, $3.50; Delicious, 80s to 150s, $4.50; Winter Bananas, 80s to 150s, $3.75; Yellow Ortlcys, 72s to 1635, $3.50 @3.75; bpltzenberg, 80s to 150s, $3.50. Bi: nanus—Found, 7%c. Beans—Michigan navy, in bags, per lb, B%c; pinto. 8c; limas. 15%c; blackeyed, Bc. Beets —65 pound bags. 51.75. Cabbage— Cwt., S7O; red. lb, 10c. Carrots—Basket, 40 lbs, $2. $1.75. $2.75. Ge,ery—Callrcrnia. crate. 7 to 10 dox, 11% 12c; Michigan, $3.75. Cider—Gallon, Cocoanuts--Bag or 800, $10; dox.. $1.73. Cranberries—32-lb hex, $3.25®3.50; bbl, $9.50; Centennial, bbl. SIOSO. Cucumber—Hothouse, Davis, doz. $3.75. Exelsior Dates -Three dozen pkgs, $5.75. . Figs—New, In boxes, 50 pkgs. 0-oz, soc; 24 pkga, 8-oz. $3.25; 12 pkgs, 10-oz. $2.25; 10 lb layer. $3.25; hrnyrua, box J 1 lbs. $4.20; Spanish, box, 2 lbs, $5.50. Garlic—F'’iiuo. 45c. Grapefruit—Extra Floridas, $4.23 @4.50; fancy Floridas, $4. Grape*—Fancy imported Almericas In kegs, 40 pounds, net, sl4. Emperors, keg, $9. Honey—Como. new. cases of 24 caps, $7.75; extracted, 00-lb tins. 22c; South American, dark extracted. 16c lb. Lemona—Caitrornias. staudard box. $5.50@6. Lettuce —Leaf, pound. 24e; Iceberg, crate, 4 doz., $5 Mangoes—Floridas. a no*, basket, 60c. ♦'range*—California navel, box. $4.23® 5.25; Sunkist, [email protected]; Florida, $5. Nuts Filberts. 13, 29@32c; English walnuts, 37@40e; chestnuts. 35c; pecans. 30c. 50c, 70c; Brazil*. 28c; almonds. 33@ 26n; shellbark hickory. iOo. Onions—Red and yellow, cwt, $7; werst-

An Attractive Tax Exempt Investment Vonnegut Machinery Realty Company 6% CUMULATIVE PREFERRED STOCK Full Paid and Nonassessable PAR VALUE, SIOO Callable as a whole or in part, at dividend paying dates, on twenty days’ notice, at 103^and accumulated dividends. Exempt from state and local taxes in Indiana and from Federal normal income taxes. Dividends payable July 1 and January 1. Fletcher American Company, Trustee, Registrar and Transfer Agent. CAPITALIZATION Authorized. Issued. $200,000 Preferred Stock ~.5200,000 (This issue) 125,000 Common Stock 75,150 . MATURITIES H $12,000 January 1, 1022 $13,000 January 1, 1929 13,000 January 1, 1923 14,000 January 1, 1930 14,000 January 1, 1924 13,000 January 1, 1925 13,000 January 1, 1932 13,000 January 1, 1926 14,000 January 1, 1933 14,000 January 1, 1927 13,000 January 1, 1934 13,000 January 1, 1928 13,000 January 1, 1935 * $14,000 January 1, 1936 The information given below is summariz ed from a letter from Mr. Anton Vonnegut, president of the company. This issue of preferred stock is secured by a modern, fireproof building on ground owned in fee simple at 19 to 29 West South street, Indianapolis. The building and ground have a total valuation of at least $305,000. Additional common stock will he issued at par to the Vonnegut Machinery Company in amount necessary to complete the building. The Vonnegut Machinery Realty Company has leased this property to the Vonnegut Machinery Company for twenty years, at an annual rental in excess of the maximum amount of preferred stock and dividend payable in any one year. Annual sales of the Vonnegut Machinery Company have increased over the last ten years from $200,000 to approximately $2,000,000, aVd net earnings over the last five years have averaged more than 2% times the rental requirements. . The Vonnegut Machinery Realty Company will set aside 90% of its net profits in a special sinking fund, annually, for the redemption of preferred stock prior to maturity. No cash dividends may be paid on the common stock until at least one-half of the preferred stock has been retired. The aggregate indebtedness of the company is limited to $14,000. The company must carry at least $200,000 fi re insurance. f Proper provision has been made to insure the expenditure of the proceeds of the sale of the preferred stock only to meet the costs of construction of the company’s new building. The officers and directors of the Vonnegut Machinery Realty Company are Anton Vohnegut, president’and treasurer; Charles A. Rassmann, vice president, and Frederick E. Halloran, secretary. All legal proceedings appertaining to this issue have been passed upon and approved by our attorneys, Messrs. Whitcomb & Dowden. Price of Preferred Stock SIOO Per Share and Accumulated Dividend Orders may he telephojiedor telegraphed at our expense. Phones, Mam 4551, Auto. 346-821 Fletcher American Company Capital $1,600,000 Indianapolis The statements contained in this announcement are based upon information and advice which we believe to be accurate and reliable, and upon which we have acted In purchasing this issue. We do not guarantee, but believe them

| ern, $7.50; Spanish Imported, basket, $2.75; green, doz tbunches, snallots; 85c, Popcorn—Lb, ,)c. Oysterplant—doz, 75c. Pears—-Claragas/ box 40 loa, $5.50; Neills, box 40 lbs, $4.60. Popcorn—Lb, 10c. Potatoes—Bakers fancy, cwt., $5.50; northern white, [email protected]; Colorado Gems, $6.50. Rhubarb—Doz bunches, 60c; Jumbo, sl. Rutabagas—Cwt, $1.75; 50 lba, sl. Sage—Fancy, doz, 50c. Sweet Potatoes —Indiana Jersey, bu., $3.25; Kentuckys, $5 bbl, 150 lbs. Nancy Hall, basket. 40 lbs. $2.50. Tomatoes—Crate, 6 baskets, $7.50. Turnips—Bu, $3. Housewives’ Market The following prices are the general prices charged at the city market obtained by striking an average of the prices charged at various stands: Apples, choice, per lb $ .05@10 Asparagus, bunch 10@15 Bananas, dozen 20@30 Beans, stringless, lb .30 Beans, navy, lb .H Beans, lima, lb .18 Beans, Colo, plntos, lb .10 Beets lb. .10 Brussels sprouts, box... .25 Carrot* 2 lbs -15 Cabbage, lb .10 Cauliflower 25@35 Celery, bunch 10@15 Cranberries, lb .12% Cucumbers, hothouse, each.... .30@35 Eggplant, each .25 Grapes, Imported, lb .50 Head lettuce, each .10020 Grapefruit, each 07%@15 Lembns, per doz... t 25@30 Lettuce, leaf, per lb .25 Onions, ib 06@10 Onions, Bermudas, each 10015 Onions, green, bunch .10 Parsnips, lb .10 Parsley, per bunch 05 Peas, shell, green, lb -20 Pineapples, each 30@40 Potatoes, peck .80 Pears, Anjau, lb .20 Peppers, green, each v . -65 Potatoes, 4 lbs .25 Radishes, 3 bunches .10 Rhubarb, bunch .10 Rice, lb .18 Rutabagas, each 10@15 Spinach, lb .20 Strawberries qt. box 1.20 Sweet potatoes, lb 06%@10 Turnips, lb .10 MEATS. Lamb chops, lb $ .40045 Leg of lamb, per lb 40@45 Boiled ham, per lb. .75 Smoked ham, per 11) 40@50 Round steak, per lb .35 Fresh beef tongue .30 Smoked beef tongue 40045 Mtoast beef 25030 Flank steak .30 Beef tenderloin .50 Pork chops .30 Pork sausage .30 Pork tenderloin .60 Porterhouse steak 40045 Chuck steak 28030 Boiling beef 18020 Bacon 40060 Loin steak .30 Hams, whole .30 Lard, lb .27% Lamb stew 15025 Spa reribs, lb .25 Shoulders, fresh beef .30 Shoulders, fresh pork .27 Beef liver .15 Veal chops 35040 Veal steak .50 Calf liver 30035 PRODUCE. Hens, full dressed, lb .50 Frys, dressed, lb ' .55 Ducks, dressed, lb .50 Geese, full dressed, lb. .55 Rabbits, dressed, each 45050 Eggs, fresh selects, doz 75078 Eggs, storage, doz .57 Butter, creamery, lb 65070 LOCAL niDE MARKET. Green Hides—No. 1. 25c; No 2,24 c. Green Calves No. 1. 56c; No 2, 53%c. Horsehldes—No. 1, $11.50: No. 2. $10.50. Cared Hides—No. 1. 3or: n O . 2. 29c.

| Today’s Market Gossip Bankers conference in Chicago recommends that no fate In excess of 2% per cent be paid on daily balances. New York report says that it is understood that administration officials are considering removal of restrictions on quantity corn trading. New York embargo on export grain has been modified to the extent that permits already Issued and not expired by time limitations are valid. Minneapolis wires: “Cash wheat weak at 10@15c lower. Corn looks easier. Other grains unchanged to shade lower except oats. They are firm. Some mills closing down partly due to lack of cars. Others say demand fallen off sharply and storage space filled up with floui;.” Only fourteen out of twenty-six mills running and several more will close tonight on account of railroads Being unable to handle their products. New York broker wires: “From very reliable authority, I learn that good-sized business has been done in oats for January, February, March and April shipment, largely for France, although some was taken by Holland and Sweden. Clearances to Europe should begin to increase as 400,000 has just been loaded at Erie elevator. I hear also that large foreign government has boats on the way now to take oats. Broker says he has million oats that will be all shipped out by middle of February.” Market letter by wire from Chicago says: “Railroad administration instructs roads in northwestern regions to give particular attention to Increasing supply of cars for grain. However; so far as Immediate attention of the market Is concerned the time has gone by when Items of this hature are effective. Trade has been disappointed "so many tknes

IMPORTERS We finance the Importation of merchandise and make advances on goods In warehouse. DIRECT CONNECTIONS ABROAD | FOREIGN DEPARTMENT Hi FLETCHER IP NATIONAL BANK INDIANAPOLIS CENTRAL STATES AGENCIES Incorporated under the laws of the State of Indiana Financial Brokers and Underwritera Market Price Paid for Liberty Bonds Phones 127 Market St., Indianapolis a Money to Loan on Mortgages STATE LIFE INSURANCE CO.

Smaller Receipts and Lack of Cars Lower Grains.

that It Is now necessary for an actual movement of goodly proportions If prices are to be depressed. This epitomizes tho situation for the time being, but so far as disposing of the ultimate surplus a statement of the chairman of the board of directors of the bankers foreign credit clearing house to the effect that repudiation of financial obligations by the allies is the only way out, carries ita own as to*where s market can be found for exportable producta.” ~ #■> R. G. Dun A Co.’s review says elements that have long been conapicnons In business situation are still sharply represented in strength of commodifies markets, as evidenced by continuous preponderance of advances over recessions in a comprehensive list of wholesale quotations. BrQker Convicted By New York Jury NEW YORK, Jan. 26.—George Graham Rice, stock broker, charged with the theft of $721 sent him by Rudolph W. Hartman of Mansfield, 0., for purchase of securities, and who testified that he had done a business of $35,000,000 In the last two years, was found guilty of grand larceny In the first degree Saturday. He will tie sentenced next Thursday. The maximum term he may receive la ten years In state prison. Rice testified during bis trial that his real name was Jacob Herzog and that Ito had a prison record beginning with a term served for larceny upon eharages preferred by hie father. He had reformed, he said, and built up hia brokerage business by honorable methods. He claimed the money he was charged with stealing had been “lost” in his office. explaining that he personally never handled masters involving less than $40,000. - There are half a dozen indictments against Rice. Hla trial, which has been in progress more than a week, was very sensational. • 1

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