Indianapolis Times, Volume 32, Number 259, Indianapolis, Marion County, 8 March 1920 — Page 12

12

COURT RULING SWAYS STOCKS Recovery Follows Decision Stock Dividends Exempt. NEW YORK, March B.—There was a general falling off In prices at the opening of the stock market today, initial losses ranging from fractions to over 2 points. Steel common yielded % to {>6% and Republic Steel fell 1 point to 88%. Crucible was 2% lower at 194% and Baldwin yielded % to 111%. General Motors was ? strong exception to the display of weakness, having a rapid advance of 5% points to 265. Pierce Arrow dropped 1 point to 55% and Keystone Tire, after selling up to 38, sold off to 57%. The oil shares were in supply, Mexican Petroleum falling 1% to 176. while losses of 1 point were suffered in PanAmerican Petroleum and Royal Dutch. American Woolen yielded 2% to 110% and U. S. Rubber 1 point to 101%. The rails were fractionally lower. .The decline was followed by vigorous upturns. General Motors advanced over 13 points to 272. Steel common rose 97% and Baldwin Locomotive advanced to 112%. Royal Dutch recovered all of its early loss, ivhile Mexican Petroleum rallied over 1 point to above 177. Rock Island advanced 1 point from its low selling at 36%. Corn Products was in demand, ranging from 84 to above 85. U. S. Rubber, after selling down to 101%, rose to 103. Prices went skyrocketing on the supreme court announcement that stock dividends were not taxable. The market was deluged with buying orders, with brokers frantically trying to make executions at prices from three to over thirty points above Saturday's cjosingAn erroneous report circulated earlier in the trading that the supreme court had ruled that stock dividends jwere taxable caused a falling off In some issues, but prices- quickly rebounded. General Motors' was most active, advancing 31% points to 290. Crucible, after selling off to 191, bad a sudden Jump to 210. Steel common yielded to 95%, but quickly rose to above 99. American Woolen fell to 113% and then made a sharp rally to 125. Baldwin liocomotlve, after yielding to 108%. rose nine points and United States Rubber rose eight points to 106. The market was active and strong during the afternoon, violent advances occurring in the entire list. In many Instances new highs for the day were made in the last fifteen minutes of trading. General Motors rose close to 300, compared with Saturday's close at 258%. Baldwin went above 119 and United States Steel touched 100%, up more than 8 joints from the recent low. Crucible sold at 224. Railroad stocks Joined in the advance as the result of the supreme court decision in the case against the Interstate commerce commission for valuation and i'atns in this group ran from 2 to 4 points. The market closed higher. NEW YORK BONDS. NEW YORK, March B.—Liberty bond ' quotations: First 3%5, 95.60: first 4, - 90.28; second 4* 80.40; first 4%5. 91.30; second 4%5, 89.88: third 4%5. 92.46; fourth 4%5, 90.10: Victory 3%5, 97.32; Victory 4%5, 97.46. NEW YORK METALS. NEW YORK. March 8. —Copper—Quiet; spot and March offered 18%c; April offered 18%c: May and June offered 18%c. Lead—Steady; spot, March and April. 9%e bid. Spelter Weak: spot and March. [email protected]; April. May and June. [email protected].

MOTOR SECURITIES. * By Thomson A McKinnon.) —Opening— Bid. Ask. Brisco 02 64 Chalmers com 7 Packard com 21 2194 Packard pfd #2 !*4 Chevrolet 250 000 Peerless 40 45 Continental Motors com 11% 12 Continental Motors pfd 100 102 Hupp com... 13*/ 14 Hupp pM V Pit 102 Reo Motor Car 2.1% 24 Elgin Motors sij p Grant Motors S(- 8% Ford of t’anadn..; 300 ' :t75 United Motors 40 *) National Motor* isi 2 2n Federal Truck 70 72 Paige Motors ' 5 Republic Truck 30 40*4 ACTIVE OIL STOCKS. <Bj Thomson &. McKinnon.) -OpeningBid. Ask. Anglo-American Oil 27*>* 2S Atlantic Refining 1350 1400 Borne-Scrymser 420 450 Buckeye Pipe I.ine 02 04 Chesebrough Mfg. Cons 225 240 Continental Oil. Colorado... 400 510 Cosden Oil and Oas BV2 8% Crescent Pipe Line 33" 3.7 Cumberland Pipe Line 135 145 Galena-Hi goal Oil pfd 00 102 Galena-Signal OH com 63 67 Illinois Pipe Line ; 165 168 Indiana Pine Line 96 100 Midwest 0i1...i 1 % 2% Midwest Rfg 155 157 National Transit 20 31 New York Transit 182 188 Northern Pipe Line 101 105 Ohio Oil 335 343 Penn.-Met 5a 58 Prairie Oil and Gas 605 625 Prairie Pipe Line 230 235 Sapulpa Refg 5% 5% Solar Refining 340 360 Southern Pipe Line 150 155 South Penn Oil 320 323 Southwest Penn Pipe Lines.. 88 92 Standard Oil Cos. of Cal 313 318 Standard Oi! Cos. of Ind 670 685 Standard Oil Cos. of Has 565 500 Standard Oil Cos. of Ky 400 415 Standard Oil Cos. of Neb 4so 500 Standard Oil Cos. of N. .1 708 712 Standard Oil Cos. of X. Y.... 400 405 Standard Oil Cos. of 0hi0.... 500 515 Swan & Finch 95 100 Union Tank Line., . 120 125 Vacuum OH 37s 3R5 Washington 0i1... 37 42 Wholesale Meats Smoked meats shown call for discount of V*c lb for order of 150 of one item • 250 lbs and over discount of Vic lb „ PORK, HAMS— Regular, 14 to 16 lbs 35% Skinned. 12 to 14 lbs 255 Vi, Fancy boiled *• BACON— Fancy breakfast, 5 to 7 lbs.. 48 Sugar cured squares 54% Bugar-cured squares "2541 Fancy sliced. 1-lb cartons... 55 * PICNICS— 00 Snugar-cured. 5 to 7 lbs 031/ SALT MEAT— * Dry salt Jowl butts .17% la r -. — v Refined, tierse basis ... 2514 ©pen kettle, tierce basis ‘on FRESH PORK—ip are ribs 22 thoulder boDes 'JiS-A 'enderlolns 580.60 Jressed bogs oau. ! Ltlght loins, 7 to 9 lbs 30 txtra light loins. 4to 6 lbs '3214 resh boneless uutu 32V4 oston butts 28™ Skinned shoulders ’osi/ SAUSAGE— Breakfast, in 1-lb cartons.... 30 Standard, fresh bulk. joi, Frankfurts, hog casings * jjt/ FRESH BEEFS. Medium steers, 400 to 500 lbs 16U. No. 2 heifers Igi? Native cows 15%0!16U Medium cows 14 LOINS—■Wo. 3 2 0 Rlßto—--2 .32 No. 8 19 BOUNDS—fiS: f::::::::—£ CBUCKS— No. 3 .13 PLATESNo 3 .11 TRAIL. CARCASSES— No. 1 quality .24%@.2S No. 2 quality J.sVi<§.lß LOCAL HIDE MARKET. Green Hides—No. I, 18c; No. 2,17 c, Green Calves—No. 1,40 c; No. 2. 38Vic. Horsehidea—No. 1, *10: No. 2, *9. Gored. £ idea—No. L 20t ; No. 2. lc

Local Stock Exchange STOCKS. Bid. Ask. Ind. Ry. & Light com 05 Ind. Ry. & Light pfd 90 96 Indpls. & Northwest, pfd TO Indpls. & Southeast, pfd 75 Indpls. St. Railway 40 50 T. H. T. & Light pfd 70 T. H., I. & E. com 1% . 5 T. H., I. & K. pfd 9% U. T. of Ind. com U. T. of lud. Ist pfd 5 10 U. T. of Ind. 2d pfd I- - Cos. com... Advance-Rumely Cos. pfd Am. Central Life 235 ... Am. Creosotlng Cos. pfd". 97 Belt Railroad com 109 119 Belt Railroad pfd 53% Century Bldg. Cos. pfd 99% ... Cities Service com Cities Service pfd 70% 72 Cttlsens Gas Cos.. 1917 36% 38 Dodge Mfg. Cos. pfd 99 ... Home Brewing 50 ... Indiana Hotel com 60 Indiana Hotel pfd 99 Ind. National Life 4% Ind. Title Guaranty <l4 72 Indiana Pipe Line 94 Indpls. Abattoir pfd 49% 02 Indianapolis Gas 03 35 Indpls. Tel. Cos. com 3% ... Indpls. Tel. Cos. pfd. 69 ... Leiucke Realty Cos. pfd 95 Mer. Pub. Util. Cos. pfd 55 Nattonal Motor Cos 20 23 Natl. Umlerwrit. Cos Public Savings 2% ... Rauh Fertilizer pfd 50 ... Standard OH of Indiana 660 . Sterling Fire Insurance 8% 9% Stutz Motor Cos Van Camp Hdw. pfd 99 Van Camp Pack, pt'd 100 ... Van Camp Prod. Ist pfd 100 Van Camp Prod. 2d pfd 99 ... Vandalla Coal com 5 Vandalia Coal pfd 12 Wabash Railway com 7 Wabash Railway pfd.. 26 BONDS. Broad Ripple Os 53 ... Citizens Street Ry. 5s 80 83 Ind. Coke & Gas Cos. 6s 93 Ind. Creek Coal & Min. 65.. 98 Ind. North 5s Ind. T'nion Trac. 5s ... Indpls., Col. & South. 55.... 88 Indpls. A: Greenfield 5s 95 Indpls. & Martinsville os 6"' Indpls. A North. 5s 37% 41% Indpls. & Northwestern 5s 65 Indpls. & Southeast. Os ... Jndpis., Shelby. & S. E. 5s ... Indpls. Street Ry. 4s 50 65 Indpls. Trac. & Ter. 5s 64% 47% Kokomo, M. &M. 5s 83% 86 T 11., I. & E. 5s 68 Union Trac. of Ind., 65... 70 Citizens Gas 5s 79% 83 Ind Hotel Cos. 2d 6s 97 100 Indpls. Gas 5s 72 82 ind. L. A H. 5s 79 86 Indpls. Water 5s 89 93% Indpls Water 4%s 72 77% M. H. & L. ref 5s S> 93 New Tel. Ist 6s 93 New Tel. 2d 5s 98 New Tel. Long Dist. 5 91 South. Ind. Power Cs 92 BANKS AND TRUST COMPANIES. Aetna Trust 100 Bankers Trust 117 ... City Trust 80 ... Commercial National 72% ... Continental National 111% ... Farmers Trust 390 !... Fidelity Trust 116 ’... Fletcher American Nattonal 257 ... Fletcher Sav. & Trust C 0... 107 ... Indiana National 276 ... Indiana Trust 206 ... Live Stock Merchants National 261 . . National City 114 119 People's State 174 Security Trust 115 State Savings A Trust 91 97 Union Trust Cos 366 Wash. Bank & Trust Cos 131 ... LIBERTY BONDS. Liberty 3%s 95.C8 95 8$ Liberty first. 4s 90.26 Liberty second 4s 91.20 91.50 Liberty first 4% 8994 urt.'jo Liberty second 4%s 92.5s 92.78 Liberty fourth 4%s 90.14 90.24 Victory 8%5.... 97.52 1*7.72 Victory 4%s 97.58 97.78

Local Bank Clearings Monday $3,297,000 Same day last year... . JMJH-000 Increase over last year., .$1,079,010 Housewives’ Market The following prices are the genera’, prices ebarged at the city market, obtained by striking an average or the prices charged at various stand*: Apples, choice, per lb f .05010 Asparagus, bunch 10015 Bananas, doz 20030 Beans, navy, lb .11 Beans, lima, lb 18 Beans, Colo, plntos, lb .10 Beets, lb jo Carrots, 2 lbs .13 Cabbage, lb .10 Cauliflower 25035 Celery, bunch 10013 Cranberries, lb .07 *., Cucumbers, hothouse, each 25030 Grapes, imported, lb .30 Grapefruit, each 07>-,&15 Lentous, per doz 25030 Lettuce, leaf, per lb ,20 Head lettuce, each 10015 Onions, lb 06010 Onions. Bermuda, each 050.07V* onions, green, bunch .10 Parsnips, lb .12V* Parsley, per bunch .05 Potatoes, peck .75 Peppers, green, each .05 Potatoes, 4 lbs .25 Radishes, bunch .05 Rhubarb, bunch .10 Rutabagas, lb .06 Spinach,, lb .15 Strawberries, qt box... .85 Turnips, lb .10 MEATS. The following price- are on Brst quality No. 1 government lnsp'-cted meats only: Lamb chops, lb 55000 Leg of lamb, per lb 45050 Boiled bam, per lb .75 Smoked ham, per lb 40050 Round steak, per lb .35 Fresh beef tongue .30 Smoked beef tongue 40045 Roast beef 25030 Flank steak .30 Beef tenderloin 50055 Pork chops ".35 Pork tenderloin .03 Porterhouse steok !0050 / Chuck steak 28030 Bolling beef 18020 Bacon 40060 Loin steak .35 Hams, whole 306235 Lard, lb .27 4 Lamb stew 15025 Sparerlbs, lb .23 Shoulders, fresh beef ,30 Shoulders, fresh pork .27 Beef liver .15 Veal chops 36040 Veal steak .50 Calf liver 30035 PRODUCE. Hens, full dressed, ID .50 Frys, dressed, lb .60 Eggs, fresh select, doz 03055 Buter, creamery, lb 67074 Sterling Exchange Slump NEW YORK, March 8.- A slump in Sterling almost as sensational as Us rise last week, was indicated when the British exchange opened at *3.55, a drop us 5%c from Saturday’s close. Shortly after the opening Sterling fell to *3.54*4, off 6V4c from Saturday’s close. There was a general recession In other foreign exchanges, bills on Paris drop ping 15 centimes to 140.2 c, francs per dollar and lire off 35 centimes to 18.22 c. Sterling recovered 2 cents at noon. l>e maud was *3.56% and cables $3.57. Francs gained 10 centimes. Lire at 19.15 was up 5 centimes. Marks were .0106. Demand sterling late in the day rose to $3.59*4. up *4c. CHICAGO PRODUCE. CHICAGO, March B.—Butter—Receipts, 4,330 tube; creamery extra, 65%c; Standard, 65%c; firsts, 60@64V4c; packing stock, 32<@37c, second 50054 c. Eggs - Receipts. 11.473 cases; miscellaneous, 43044 c; held firsts, 37043 c; firsts. 45V4c; refrigerator, 25038 c; checks, 33038 c: dirties. 40c. Cheese Twins, new, 26@26*4c; daisies. 27V4@2S*4c; young Americas, 30030* 3c, longhorns, 30%@31c; brick, 27c. Live poultry—Turkeys, 40c; chickens. 37c; springs. 36c; roosters, 24c: stags. 3lc; geese, 22c; ducks, 36c. Potatoes—Receipts, 38 cars; Mlnnesotas. Dakotas, Ohio* and Wlscontffta, $5.4005.50 per 100 Bounds.

SWINE DROP 10 TO 50 CENTS Receipts of 6,500 Animals Here Promptly Cleared. RANGE OF HOC. PRICES. Hood Good Good Mixed Heavy Light IDO to 325 lbs. 130 to Mar. 250 lbs. up 210 lbs. 210 lbs.. 1. $1 5.50 0 16.C0 515.25(0*15.75 $16.75® 1 6.00 2. 16.25015.7S 15.00015.50 15.00010.75 3. 15.00015.50 [email protected] 15.50015.05 *4. 14.75015.50 14.50013.10 15.40015.75 5. 14.75015.75 14.50015.65 [email protected] 6. [email protected] 15.00015.85 15.85016.00 8. 15.00015.85 [email protected] 15.76016.00 Some liogs were only 10 cents lower, .many 15 cents lower, others were 2o cents lower, and the heaviest porkers were listed 50 cents lower than the preceding schedule. in a general way the market was 15 to 23 cents lower, with the average cost probably 20 cents lower than last Saturday's average. There was an unusually wide spread in prices from $14.50 for the bogs weighing more, than 30<) pounds up to 516 for Just a few strictly selected light hogs. Other sales of matured hogs were at $14.75 to $15.85, and Included other sales according to average weight at sls, $15.45 and *15.75, The pig market was generally 50 cents lower at sls down, but the top price for strictly light pigs was practically $14.50. There was n steady market for sows with the top price $13.25, but virtually .sl3, There was a prompt clearance of the receipts of 6,.*00 hogs. Cattle. Any change in the general cattle market with reference to the final market last week was interpreted as being a little more favorable to tile selling side. There were some of the estimates flint indicated an advance of 25 cents in many cases, but the majority view indicated general sales were fully steady, probably strong, compared with those for the closing markets last week, and owners had a little advantage on account of the extra Monday fill, l'herp was an active outlet for steers, heifers and cows and the pens were cleared early at prevailing prices which were considered 73 cents to $1 higher than they were a week ago. There was a steady market for bulls and the veal calves from $lB as well as the heavy calves from $9 down were quoted steady. There was a fair demand for feeding cattle and the entire list of prices appeared to be strong. Sheep. There were none of the sheep or lambs in the scant supply of fifty that were good enough to command top prices, but toung stock sold at sl7 and heavy ewes at $8.50. CATTLE. —Steers l’rime cornfed steers, 1,300 lbs and up $13.00*513 -k) Good to choice steers, 1,30t> lbs and up [email protected] Common to medium sleers, 1,300 lbs and up [email protected] Good to choice steers, 1,100 to 1,200 lbs [email protected] Common to medium steers. 1,100 to 1,200 lbs 10.50® lL<k> Good to choice steers, I<oo to 1,000 lbs 0.505{10.50 Common to medium steers, 900 to 1,000 lbs 9.00® 9.30 Good to choice yearlings 10.008112.00 Heifers and Cows • rood to choice heifer*-. [email protected] Fair to medium heifers....: Ks6@ 9.50 Common to light heifers.... 7.00® 8.00 Good to choice tows [email protected] Fair to medium cows 7.50® 800 Canners and cutters 4.OU@ 7.<A) Bulls and Calves— Good to prime export bulls.. P.OOfti 9.:5) Good to choice butcher hulls 8 30® 9.00 Bologna bulls 7.o°@ K.uO Common to best veal calves. 12.w)fel8 ) Common to best heavy calves i.WMnIIOO Stockers and Feeding Cattle— Good to choice steers, KUO lbs and up [email protected] Common to fair steers. 800 lbs and up 9 00® ,*..>o Good to choice steers, under 800 .hs [email protected] Common to fair steers, under Hist lbs 8.09® J--5 Medium to good cows jJ-’@ j*-*® Medium to good heifers • 0@ * •$ Fair to best milkers [email protected] Stock calves, 27*0 to 450 lbs, [email protected] HOGS. Gold to best heavies, 257 lbs atora**- up , 14.50® lc Os! Good. 225 to 275 tbs average. [email protected] Medium and mixed. b"0 to 230 lbs [email protected] Good to chop .' hogs, 150 to | tM 15.75@ 15.85 Common to best lights, down to 130 lbs 15.85® I<.oo Roughs and packers [email protected] Bulk of sows 12.25® 12.7Best pigs, under 140 lbs 14.5<@V5.00 Light pigs 14.50 down Bulk of good bogs [email protected] SHEEP AND LAMBS. Good to choice N'uoep 9.00@ 9.50 Common to medium siieep .. 5.00@ s.<** Good to choice yearlings .. [email protected] Common to medium yearlings [email protected] Western fed limbs 18.00@ 19.50 Good to choice lambs 17.50® 18.00 Common to medium lambs .. 14.iM0tj17.90 Bucks, per 100 lbs 7.00® 8.00 Other Live Stock | CLEVELAND, March 8. Hogs Re celpts, 5,000; market steady; yorkers. $15.75; mixed. $15.75; medium, $14.25; pigs. sls; roughs, $12.25; stags. $9.50. Cattle -Receipts, 800; market steady; good to choice steers, sll @l3, good to

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INDIANA DAILY TIMES, MONDAY, MARCH 8, 1920.

TODAY’S MARKET NEWS IN BRIEF NEW YORK STOCKS. Market opened lower, and continued featureless, wit exception of strength shown In General Motors, which stood out prominently strong In a generally weak murKett. Erroneous report gained circulation that supreme court had declared took dividends taxable. Market broke in a near riot, t-ater report was corrected that court had ruled they were nontaxable and and market went hysterical in u wild orgy of buylug. Prices went up K> to 20 points in some instances. and* during the last fifteen minutes of trading sJles were In huge volume. Murket dosed strong. GRAINS. Indianapolis Cash—Corn, strong, 1@ 3%c higher; oats, strong, %@lc higher; i hay, steady. Chicago Cash—Corn, unchanged to 2c higher; oats, unchanged to %c higher. I Chicago Futures—Corn, 2%@3c higher; I oats, %@%e higher. Toledo Cash—Corn. 3e higher: oats, %e higher; rye, Sc higher; barley, uu- ] changed. . LIVE STOCK. Tndlanapolls—Hogs. 10@5Qc lower; cattle. steady to 25c higher; calves, steady; sheep, steady. Chicago -Hogs. s@loc higher; cattle, 25c higher; sheep, slow, top S2O. — t PROVISIONS. Chicago Board of Trade —Pork, 60@ 70c higher: lard, 32@35c higher; ribs, 10@15o higher. choice heifers. [email protected]; good to choice cows. s7@B; fair to good cows, s6@7; bulls, sß*g‘i.so: milkers. sso® 150. sheep and lambs Receipt*. 590; market steady; top, sl9. Calves Receipt*, 500; market slow; top, $lO. CINCINNATI, 0., March 8. Hogs Re ; celpts, 7.500; market steady; heavy, sls @15.75; mixed, medium and lights, sl6; pigs, sl4; roughs, sl2; stags, $9. Cattle Receipts, 1.100; market strong to 25c higher; bulls, steady; calves, sl9. Sheep -Receipts, 100; market steady. CHICAGO. March B.—Hogs—Receipts, 39.000; market steady to 10c higher; bulk. $14.75® 15.50; butchers, $13.25® 13.73; packers, $ 14.25® 15.60; light. $14.50 @15.65; pigs, $13.50® 14.73; roughs, $12.50 (§l3. Cattle-Receipts. 14,000; market, strong to 25c higher; beeves, $14.50@16: butchers. [email protected]; canners and rut ters. [email protected];, stockers and feeder*. s7® 11.25: cows, $7.10® 12.50; calves. sls [email protected]. !-t eep—Receipts, 77.000; market slow, steady; lambs, sl4®-*); ewes. stl@ 17. EAST ST. LOUIS, 111., March B.—Cattle —Receipts, 4,700; market 15@25c higher; native beef steers, '[email protected] ; yearling beef steers and heifers. *lo® 13, cows, $9.75® 10; stockers and feeders, s9® 10.50; calves, $15.50® 18 25' canners and cutters, [email protected]. Hogs—Receipts, 15.500; market steady to 10c higher; mixed and butchers,’ $15.50® 15.90; good heavies, sl4 90® 15 40 ; rough heavies. $11.75® 13; Tight, $15.73® 16; pigs. $12.25® 15.75; bulk of sales, $15.50® 13 90 Sheep Receipt*, 1,100; market steady; ewes, sl2® 14; lambs. sl9® 19 50; canners and cutters. [email protected]. EAST BUFFALO. N. Y., March 8 Cattle Receipts. *2,400, market, active 25 @soe higher; shipping steer*. $13.50® 15; butcher grades. s9® 13: heifers, s6® 112*0; cows. [email protected]; bulls. *6® 1050; milch cows and springers, $1.50® 175. t'uives Receipts, 1,800: market, active, steady; culls to choice. s6®2o. Sheep and lambs Receipts. 6,200; market, active; choice lambs. $20®20.25; culls to fair. sl6® 19.50; yearlings, sl6® 1.8; sheep, s6®lfl. Hogs Ke.-elpts. 12,50*1; murket. sctHe. 20® 25c lower: yorkers, [email protected]; pigs. sls; mixed. sl6® 16.25; heavies, $15.50® 13.75; roughs. sl2® 13.25; stags, sß@9. Weather in Other Cities Station. Bar. Temp. Weaih. Atlanta. Ga 30.56 16 Hear Amarillo, Tex 80.32 16 *'ler Bismarck. N. D 30.04 2 PtCldjr Boston, Msss 30 34 16 Oear Chicago, 111 36 14 Ift Cloudy Cincinnati, 0 30.46 14 Cloudy Cleveland, 44 30.34 12 Clear Denver Colo 30**8 36 Clear Hclefta. Mont. . .30 04 IS Clear Jacksonville. Fla.. 30.52 32 Clear Kansas City. M 0... 30.2*1 22 Clear Louisville. Ky 30.n0 16 Clear Little Hock. Ark .. 30.46 26 Cloudy Los Angeles. Cal... 3*l 10 54 Cloud) Mobile, Ala 30.56 34 Cloudy New Orleans*. La.. 30.52 36 Cloudy New York, N. Y.. 30.42 14 Clear Norfolk. Vn 30.54 28 Cleur Oklahoma City ...30.38 24 Clear Omaha. Neb 30.12 24 Clear Philadelphia. Pa. .. 30.46 18 Clear Pittsburg, Pa 30.44 14 Cloudy Portland, Ore 29.98 4.8 Cloudy Rapid City. S. D.. 30.04 24 Clear San Antonio, Tex.. 30.44 34 Cloudy San Francisco, Cay 30.08 50 Cloudy Ks. Louis, Mo 30.36 1.8 Clear Tampa, Fla 30.46 42 Clear Washington, D. C.. 30.50 20 Clear WKATJIER CONDITIONS. The weather throughout the country during the lust twenty-four hours bus been generally fair, except In u few comparatlxely small ureas. Coltl weather continues In the eastern and southern states, but the temperatures are now rising generally from the Ohio and Mississippi valleys westward. The reudlngs are approaching the seasonal normal In the northwest, except In the northern Red river lulley, where they are below zero this morning. J. H. AB.UINGTON,

CORN GOES UP AS OATS DROP Prospect of Flour Sales to Europe Chief Factor. CHICAGO, March B.—Futures were higher on the Chicago Board of Trade today. First among the factors in the rise was a reported agreement by congressional committees to expedite plans for sellling 5,000,000 barrels of flour to Europe. Light receipts and covering by shorts at the outset were other factors. Provisions were higher. There was some reaction at noon. March corn opened late and unchanged at $1.51, but later gained %e. May corn up %c on opening at $1.45, later advanced %c. July corn was %c up at the opening, $1.38%. and gnluetk %c in later radlng. September corn opened at $1.35%, up %•, and remained unchanged. May oats opened unchanged at 83%c, and later lost %c. July oats off %e at the opening, 70%c, dropped another %c thereafter. CHICAGO GRAIN. —March 8— CORN —Open. High. Low. Close. Mar. 1.51% ‘ 1.54 1.51% 1.54 13 May. 1.45 1.48% 1.44% 1.47% t3% 1.44% 1.47% July 1.38% 1.11% 1138% 1.40% t 2% 1.38% 1.40% OATS— May. 83% 84% 83 84% t % 83% 84% July 76% 77% 76% 76% t % 70% I’ORK— Mav. !15.00 35.55 35.00 35.55 t 60 July 35.45 35.45 35.25 35.45 t -70 LARD— May. 21.50 21.85 21.50 21.82 t .32 -July 22.10 22.45 22.05 22.42 t .35 RIBS— May. 18.40 18.85 18.40 18.45 t -15 July 18.90 19.15 18.90 18.92 t -U> flncrease over Saturday's close. CHICAGO CASH. CHICAGO, March 8. —Wheat —No. 3 mixed, $1.58; No. 4 mixed, [email protected]%; No. 3 white, $1.58® 1.59; No. 4 -white, $L54%@1.56; No 3 yellow, $1.59® 1.61; No. 4 yellow, $1.54%@1 50%. Oats—No. 3 mixed, 88; No. 2 white, 91@92%; No. 3 white, 90@91%; No. 4 white, 89%. TOLEDO CLOSE. TOLEDO. Marcl* 8. Corn No. 3 yellow. $1.63. Oats—No. 2 white, 97%@9.8%c. Rye—No. 2. $1.71 Barley No. 2. $152. Aitdke—Cash and March, $34915; April, $35. Cloverseed -Cash and March, $3.3.50: April, $33; October, $23.20. Timothy Cash. 11917 and 1918), $6.30; cash 1919), $6.42%: March. $6.41%; May, $6.25. Butter —70c. Eggs 5.3 c. INDIANAPOLIS CABII GRAIN. —March 8— Corn—Strong: No. 3 white. $1.56%® 1.60%; No. 4 white, $1.87%® 1.58%; No 3 vellow, $1.60; No. 4 yellow, 51.54%® 1.56%; No. 4 mix*®, sls4® I 54% Oats Strong; No. 2 white, 93@94%c; No. 3 white, 92%®93c. Hay Steady; No. 1 timothy. $.32.50® 33; No. 2 timothy. $31.50®.32; light clover mixed, s3l 50®.32; No. 1 clover mixed, s3l @31.50. —lnspections Wheat -No. 2 red, l car. Corn No. 3 white. 16 cars; No. 4 white, 21 cars; No. 5 white, 1 car; No. 3 yellow. 9 cars; No. 4 yellow, 30 cofs; No. 4 mixed. 6 cars; No. 5 mixed, 2 car*; total, 84 cars. ttat* No. 1 white, 2 cars; No. 2 white, 25 cars; No. 3 white, 5 cars; No. 4 white.

INDIANA TRUCK CORPORATION Marion, Indiana Six Per Cent. Gold Notes Authorized and Issued $500,000. Fletcher American National Bank, Indianapolis, Trustee Dated March 1,192 Q Due Serially March 1, 1921, to March 1, 1930. Interest payable semi-annually, March 1 and September 1, at Fletcher American National Bank, Indianapolis. Coupon notes, denominations SI,OOO and SSOO. Principal may be registered. Notes may be redeemed at 102 and interest on interest dates on thirty days’ notice. Interest payable without deduction for Federal income tax now or hereafter deductible at the source, not in excess of 2%. Yielding the Investor 1% to 7.30 % According to Maturity MATURITIES AND PRICES $50,000 due March 1, 1921, (§> 99. and interest yielding over 7% 50,000 due March i, 1922, (§) 98.10 and interest yielding over 7% 50,000 due March 1, 1923, @ 97. and interest yielding over 7.10% 50,000 due March 1, 1924, @ 96.20 and interest yielding over 7.10% . 50,000 due March 1, 1925, <§) 95. and interest yielding over 7.20% 50,000 due March 1, 1926, @ 94.20 and Interest yielding over 7.20% 50,000 due March 1, 1927, (§> 93.20 and interest yielding over 7.25% 50.000 due March 1, 1928, @ 92.50 and interest yielding over 7.25% 50,000 due March 1, 1929, @ 91.50 and interest yielding over 7.30% 60,000 due March 1, 1930, @ 90.80 and interest yielding over 7.30% From the within letter from Vice-President J. W. Stephenson, the following summary is submitted: THE COMPANY Indiana Truck Corporation is the outgrowth of an industry founded at Marion, Indiana, twentytwo years ago. For ten years this factory has devoted its energies to the manufacture of standard Indiana Motor Trucks, one of the best known products on the market. There are over 450 Indiana service stations in the principal cities of the country. Last year, the company’s sales exceeded $4,000,000, and indications point to sales of from $7,500,000 to $8,000,000 during 1920. THE ASSETS The Company’s plant occupies 14 acres on the Belt railroad at Marion, with well constructed buildings admirably adapted for economical manufacturing. The balance sheet of December 31st last, as audited by Price, Waterhouse & Cos., (adjusted to show proceeds of the sale of these notes, and after setting aside $193,000 reserve for federal taxes) shows total net assets of $1,879,402.29, applicable to the payment of this $500,000 note issue, and net current assets, even after deducting various reserves, of $1,456,830.92. The total net assets are, therefore, over three times this note issue, and the net current assets are nearly three times the note issue. The American Appraisal Company certifies as to the soundness of plant and equipment values as shown on the balance sheet, the same being taken at actual cost prices, less depreciation. . EARNINGS The net profits of Indiana Truck Corporation, after depreciation, but before Federal taxes, for the year 1919 were $454,309.52, and after provision of $193,000 for Federal taxes, the net profits were $2(?i,309.52, or nearly nine times the interest requirement on the new note issue. The net profits for the last four years, after deducting Federal taxes, averaged $182,321.07 per annum or over six times the interest requirements on the new notes. PURPOSE OF THIS ISSUE The purpose of this note issue is to refund current indebtedness and provide additional working balances. N- - OF THESE NOTES The Company has no funded debt other than this issue. The note indenture provides: That no mortgage shall be placed upon any properties of the Company during the life of the notes, other than purchase money mortgages on properties hereafter acquired, representing not over 70% of the cost or fair value thereof. That total net assets shall at all times be maintained to at least two and one-half times, and net quick assets to at least two times, the amount of outstanding notes of this issue. Copies of the legal opinion of Myers, Gates & Ralston, Indianapolis, of the audit by Price, Waterhouse & Cos., of the appraisal by American Appraisal Cos., are on file in our offices open to examination. Orders may be telephoned or telegraphed at our expense. FLETCHER AMERICAN COMPANY Capital $1,500,000 FLETCHER AMERICAN NATIONAL BANK Capital and Surplus $3,000,000 Fletcher American National Bank Bldg. INDIANAPOLIS All statements herein are official, or are based on Information which we regard as reliable and, while we c’o not guarantee them, they are the data upon which we'-hare acted In the purchase of the security.

- 1 car; No. 1 mixed, 1 car; No. 2 mixed, 1 car; total, 35 cars. ' Rye—No. 3, 1 car. Hay—Standard timothy, 1 car; No. 1 clover mixed, 1 car; total, 2 cars. PRIMARY MARKETS. (By Thomson & McKinnon.) - —Receipts— March 8. Wheat. Corn. Oats. Chicago 26,000 252,000 147.000 Milwaukee ... 34,000 104,000 106*000 Minneapolis . 287,000 12,000 42,000 Duluth 3,000 St. Louis 58,000 220,000 194,000 Toledo 8.000 6,000 14,000 Detroit 4,000' 10,000 8,000 Kansas City . 276,000 69,000 33,000 Peoria 4,000 142,000 5e,000 Omaha 38,000 70,000 .'IB,OOO Indianapolis . 2,000 07,000 30,000 Totals 740,000 952,000 685.000 Year ago .. 715,000 570,000 724,000 —Shipments— Wheat. Corn. Oats. Chicago 42,000 117,1X10 216,000 Milwaukee ... 5,000 18,000 8.000 Minneapolis . 32,000 17.000 32,000 Duluth 8,000 4.000 St. Louis ... 24,000 63,000 59,000 Toledo 1,000 2.01X1 Detroit 5,000 8,000 Kansas City . 112.000 14,000 52,000 Peoria 1.000 122,000 77.000 Omaha 58,000 101,000 66,000 Indianapolis 48,000 10,000 Totals 283,000 507,000 3.32,000 Year ago .. 141,000 228,000 487,000 —Clearances—D. Wheat. Corn. Oats. Y'ear ago .. 576,000 WAGON MARKET, The following are the Indianapolis prices of hay and grain by the wagon load: llay—Loose timothy, $31@32 a ton; mixed, $80@32: clover, $30@33. Corn—sl.ss® 1.65 a bushel. Oats—9o@93c a bushel. Straw —Wheat, sß@9 ton; oats, $14@15. WAGON WHEAT PRICES. Indianapolis elevators and mills are paying $2.35 for No. 1 wheat, $2.32 for No. 2 and $2.29 for No. 3. A1 lother grades according to quality. WHOLESALE FEED PRICES. (Acme-Evans Cos.) Ton Sax. Cwt Ac. bran :...$50.50 $2.25 Ac. feed 52.30 2.05 Ac. midds 58.50 2.95 Ac. dairy feed 74.08 3.73 E-Z dairy feed 59.00 3.00 Ac. H. & M 68 50 3.45 C. O. A B. chop 58.50 2.95 Ac. stock feed 54.50 2.75 Ac. farm feed 59.25 3.00 Cracked c0rn....... ~. 67.25 340 Ac. chicken feed 72.00 3.65 Ac, scratch 69.00 3.5) E-Z-acratrh 65.50 3.30 Ac. dry wash 00.00 3.50 Ac. hog feed 67.00 3.40 Ac. barleycorn 69.00 3.50 Ground barley 77.00 3.90 Ground oats... 68.00 3.43 Homlik white 67.50 3.40 Rolled harlev 77.00 3.90 Alfalfa mol 59.00 3.UC Oil meal 86.00 4.35 Cotton seed meal 80.00 4.05 GRAIN'S. Shelled corn, 2-bu sacks, bu $1.61 Shelled corn, large lot, bu 1.61 Oat*. 3 bu sacks, bu 1.06 FLOUR AND CORN MEAL. E-7. Bake, basis 98 pounds cotton sack*, barrel $13.80 Corn meal, 100-pound cotton sacks, barrel 4.00

On Commission Row Pineapples were an arrival. Dealers priced them at .$8 crate, Trade did not respond promptly at this price. Car Indiana sweet potatoes arrived. Bushel baskets selling at $2.50. Quality of this shipment, dealers report, Is unusually good. Shipment of Shallot green onions received. Price quoted was $1 dozen, with supply exhausted in short time. More expeected, dealers say. Potatoes jumped from $5.35 to $5.50 hundredweight, and dealers state another advance is due Tuesday. Potatoes ported selling In Chicago today at $5.70 hundredweight. TODAY’S PRICES. Apples—ln barrels; Extra fancy Red Jonathans, sl2; extra fancy Grimes Golden, $11; Baldwins, SS.SV; Greenings, $9; Hubbard son, s9@ll; Jonathans, s9® 10.50; Rome Beauties. $8.50®10.50; Kings, $9; Winesaps, $10: Maine Northern, $10; Wealthy, $8; Work imperials. $9; Kinnaird Favorites, $6; Grimes Golden, No. 1 grade, $9. In boxes: Home Beauties, 80s to 150a, $3.50; Grimes Goldens. 96s to 1755, $3.50; Delicious. 80s to 150s, $4.50; Yellow Ortley, 72s to 1625, [email protected]; Spitzenberg, 80s to 150s, $3.50. Banenas—Pound, Bc. Beans—Michigan navy, in bags, per lb., 7%c; pinto, 7%c; limas, 14c. Beets—6s-lb. bags, $1.75. Cauliflower—Crate, $3. Carrots —Basket, 40 lbs., $1.75: new crop, dozen bunches, $1; hamper. $2.50. Celery—Florida, [email protected] crate. Cranberries—3 C-lb. box, $3; %-bbl. box, 1 $5.25. Cucumbers—Hothouse, Davis, doz., $3; box 2 doz. $5.50. Grapefruit—Extra fancy, Floridas, s4@ $4.75. Ho.ney—Comb, new. cases of 24 caps, $7.75; extracted, 60-1 b tins, °2c' South American, dark extracted, 10c ’b. Lemons—Callfarnlas, standard box, $6 @0.50. Lettuce- Leaf, lb, 18@20e; Iceberg, crate 4 doz. $3.25@3.> Mangoes—Florida, 2 doz. basket, 90c; crate, $8.50, Oranges—California navel, box, $4.50® 7.50; Sunkist, $6.50@8; Florida, $6@S. Nuts—Filbert*, lb, 29@32c; Engliih walnuts. 37@40c; chestnuts, 35c; paeans, 30c, 60c, 70c; Brazils. -2Sc; almond, 33® 36c; shellback hickory, 10c. Onions—lndiana yellows, cwt., $7; western yellow, $6.50; Spanish imported, 40-lb. crate, $2.60; shallots, $1.25. Onion Sets—Red and yellow, bushel, $4; white, $4,25. Popcorn—Pound- 9c. Potatoes—Bakers fancy, cwt., $6; northern white, $5.50. Potatoes. Seed—Red River Ohio, cwt., $5.75; Early Rose. $5.50; Minnesota Cob-* biers, $5.50; Six Weeks Triumphs, $5.50. Sage—Fancy, uo*. so c. Spinach—Large, crate, $4; Texas, bus., $2.15. Strawberries—Quart box, 80®85c. Sweet Potatoes—Eastern Jersey, bu, $2.75; Nancy Halls, $2.25. Tomatoes—Crate, 6 baskets, - $6; basket, sl. Turnips- -50-lb basset, $3.15. WHOLESALE PRODUCE. Eggs—Fresh, 45c doz. Poultry—Fowls, 32c; springs. 1% to 2 lbs, 50c; cocks. 18c; old tom turkeys, ;isc; young ton: turkeys, 2 lbs and up, 40c; young bet turkeys 8 lbs and up, 40c; cull thin turkeys not wanted ; ducks, 4 lbs up, 24c; ducks, under 4 lbs. 20c; eeese. 10 lbs -u, 20c; squabs. 11 lbs to doz, $7.50 Rutter—Clean packing stock, 33c !b; fresh creamery butter in prints is selling at wholesa'e at 67c; in tubs, 06c. Butter Fat--Indianapolis buyers are paying 6Sc lb. Cheese (wholesale selling prices)— Brick, 37c lb; New York cream, 38c; Wisconsin full cream. 36c; Longbortis, 37c; llmburger, 38c.

TRADE FUTURE ! LOOKS HEALTHY New York. Business Service Says No Need for Alarm. * NEW Y'ORK, March B.—The monthly letter vs the Alexander Hamilton Institute, issued today, reviewing general j business conditions and the outlook for the future, says that, despite the financial many lines of trade are viewing the • business* situation complacently because they see bo evidence ot overproduction, and therefore no occasion for an immediate selling movement. This seeems to be true among dealer* in cotton goods and in petroleum products. But there is a more conservative spirit among woolen merchants on account of the plentiful supplies of the raw material, and the large imports of raw silk cause hesitation among silk dealers. The leather market also is unsettled. In iron and Iteel and lumber there la conspicuous strength, and owing to tile high rents and continued building operations it is -expected that these commodities, together with brick and other building materials, will remain strong. There is a prevalent- opinioh that thi sheer urgency of the demand for Industrial buildings and public works, as well as residential buildings, will cause operations In this line to go forward- during the rest of ffie year, regardless of high wages, prices and interest rates. On the other hand, there is an opposite opinion to the effect that as soou aS contracts already financed are completed, the consumption of building materials, as well as other goods, will tend to decline, because new contracts jutffle during the next few months will be reduced. This idea, in other words, is that there is a divergence between the desire for goods and the actual demand, and that even though people mav desire as much this ypar as they did last year, they will Be able to buy less, owing to tight money. Consequently, , it is argued, although the supply of goods now- seems short, the same amount will prove adequate after tight money causes the demand to fall off. The discussion, then, comes back to i the question of bank credit, and in Ibis connection it is interesting to note the * following quotation from the annua] re- | port of the federal reserve boarJ, issued ' last week. “Too rapid or too drastic deflation would defeat the very purpose of a welii regulated credit system by the needless I unsettlement of mind it would produi-e, and the disastrous reaction that such unsettlement. would have upon productive Industry. „ “Radical and drastic deflation is not ■ therefore in contemplation, nor is a poli icy of further expansion." ! The intimation that further expansion will be checked by credit restriction i suggests that financial pressure will soon j compel a reduction in the demand for commodities and a decline in prices Just as there has been a slump in the stock market for the same reason. The outstanding signs of a decline in commoditj prices ore a growth of economy, large Imports, more conservative commitments by merchants end prospects of som falling off in exports. CLEVELAND PRODUCE. CLEVELAND, O , March B. Extras in tubs, 65%@69>-; extra flrstJv ' <*7%®6Sc; firsts, 66%®67c; .prints, lc ! higher; seconds, 62@63c; packing, 30c. Eggs—Northern extras. 54c; extra firsts. 53c; northern first's, new eases, '32c; old cases, 51c; southern and west- : ern firsts, new cases, 49c. Poultry—Chickens, 50c; light fowls, 35c; heavy grades, 38c; roosters, old, | 25@24c; springers, S6@37c; ducks, 36® , 38e; geese. SO@3sc; turkeys, 35@40c.