Indianapolis Times, Volume 34, Number 27, Indianapolis, Marion County, 13 June 1921 — Page 8

8

STOCK MARKET CLOSES STRONG Studebaker Makes Big Gain in Final Hour. NEW YORK, June 13. —The stock tnarket closed strong today, urgent buying of Studebaker being a prominent feature In the late dealings. That stock was taken in large blocks and rose to Talk, an upturn of 614 points from Its low mark. rose nearly 3 points to 61%e. United States Steel was In demand, moving up to 76% and upturns of from 2 to 4 points were reported in other steel shares. Northern Pacific, after dropping over 4 points to 61%, rallied to 63% and American Sugar recovered over 4 points to 74%. United States Rubber rose 3% points to 59% and eGneral Asphalt moved up nearly 5 points to 56%. Mexican Petroleum sold up to 1.32%, an upturn fro mlts low mark of nearly 7 points. Total sales of stocks was 1,133,900 shares; bonds $14,493,000. (By Thomson & McKinnon) —June 13— At onr opening today, there was nothing to suggest any change in market sentiment or in the trading. The news over the week-end was of a neutral character with the exception of weekly reviews of steer adn iron industry, which was uni- ' formly bea.lsh. During the earlv part of the session the trading was interesting and confusing. There was evidence of short covering, but being immediately followed by renewed liquidation and the establishment of new low prices, created the impression that the declining had not yet run Its course, bu id persistent demand from shorts finally absorbed the ' dav’s selling, and created a sold-out condition. and, therefore, as a demand appeared from commission houses, values began to improve. The rails proved to be an exception, and the continued weakness In Great Northern and Northern Pacific lends force to the suggestion of a dividend revision. It Is well at this tim* to consider the technical side of the stock market rather than underiving conditions. Liquidation has been going on for a long time. What reason there may have been for liquidation iu individual cases, the fact remains that ownership has been changed and undoubtedly many o fthe stocks sold baTe passed into hands content to wait for better times. Values have reached a level that was not thought possible, and this may attract anew class of buyers, and as Is usual, some substantial short lines have undoubtedly been built up, which will be a sustaining influence. It is, therefore, likely that tven without an Immediate change In business conditions, we may have a period of stability with a substantial recovery in values. TWEXTT STOCKS AVERAGE. NEW YORK, June 13.—Twenty industrial stocks averaged 69 70, ofT .22 per cent. Twenty active rails averaged 65.90, oft .21 per cent. CLEARING HOUSE STATEMENT. NEW YORK,’June 13.—Exchanges. $416.807.376; balance, $61,139,482; Federal Reserve Bank credit balance, $60,871,907.

Money and Exchange

Indianapolis bank clearings Monday were $3,158 000, against $2,617,000 for Monday a week ago. NEW YORK, June 13.—Foreign exchange opened steady today, with demand Sterling %c lower at $3.73%. Francs were unchanged at 7.91 c for cables and 7.90 c for checks. Lires were up 5 points to 4 97c for cables and 4.96 for checks. Belgian francs were unchanged at 7.90 c for cables and 7.89 c for checks. Guilder cables were 32.70 c and checks 32.68 c. Swedish kronen cables were 22.15 c, checks 22.10 c. Marks were 1.41 e. Norway kronen cables were 14.50 c; checks, 14.45 c. Denmark kronen cables were 16.90 c; checks. 16.855. MOTOR SECURITIES. (By Thomson A McKinnon.) -OpeningBid. Ask. Briscoe 10 12 Chalmers com 1 1% Packard com 7% 7% Packard pfd 64 67 Chevrolet 100 400 Peerless 26 Contlnenatl Motors com 5% 5% Continental Motors pfd 79 81 Hupp com 11 12 Hupp pfd 92 97 Reo Motor Car 17 18 Elgin Motors 4% 5% Grant Motors ’..... 2% 2% Ford of Canada 245 256 United Motors 30 60 National Motors 6 9 Federal Truck 17 19 Paige Motors 13 16 Republic Truck 13% 15 ACTIVE OIL STOCKS. (By Thomson & McKinnon.) —June 13— —Opening— Bid. Ask. Anglo-American Oil 15% 16 Atlantic Lobos 17 19 Borne-Scrymser 350 375 Buckeye Pipe Line 71 73 Chesebrough Mfg. Con 170 ISO Chesebrough Mfg. Con. pfd. 96 100 Cont. Oil, Colorado 100 105 Cosden Oil and Gas 5 6 Crescent Pipe Lina 27 20 Cumberland Pipe Line 110 120.. Elk Busin Pete 6% 7 Eureka Pipe Line 75 80 Galena-Signal Oil, pfd 88 92 Galena-Signal Oil, com 30 35 Illinois Pipe Line 148 153 Indiana Pipe Line S3 99 Merritt Oil 8% 9 Midwest Oil 5% 3 Midwest Refining 130 132 National Transit 24 25 New York Transit 120 130 Ohio Oil 242 246 Penn.-Mex 22 23 Prairie Oil and Gas 455 465 Prairie Pipe Line 165 167 Sapulpa Refining 3% 4 Solar Refining 350 370 Southern Pipe Line 75 80 South Penn. Oil 170 180 Southwest Penn. Pipe* Lines. 75 80 Standard Oil Cos. of Cal 73 74 Standard Oil Cos. of Ind 62% 66% Standard Oil Cos. of Kan.... 550 570 Standard Oil Cos. of Ky 383 400 Standard Oil Cos. of Neb 130 140 Standard Oil Cos. of X. Y.... 303 307 Standard Oil Cos. of 0hi0.... 360 380 Swan A Finch 30 40 Vacuum Oil ....*. 260 270 Washington Oil 25 32 NEW YORK CURB. —June 13— (By Thomson A McKinnon.) —Closing— Bid. Ask. Curtis Aero com 2% 3% Curtis Aero pfu 10 20 Texas Chief * 70 102 First National Copp * % 1% Goldfield Con 5 7 Havana Tobacco 1 1% Havana Tobacco pfd ,4 6 Central Teresa 2% 3% Jumbo Extension < 6 International Petroleum .... 13% 14 Ntpissing >y, 4% Standard Motors 5% 7 Salt Creek 24 33 Tonopah Extension 1% 1% Tonopah mining 1% 15-16 United P. S. new 1% 1% U. S. Light and Heat 1% 1% U. S. Light and Heat pfd.... 1% 1% Wright Aero 5 6 World Film 1-16 3-16 Yukon Gold Mine Cos 1 1% Jerome % 3-16 New Cornelia 14 16 anited Verde 25 27 Sequoyah 3-16 5-15 Omar Oil 1% 2 Eep. Tire % % CHICAGO STOCKS. (By Thomson A McKinnon.) —June 13— Armour Leather... 12% Carbide A Carbon. 41% 42% 41% 42% Libby 8 8 7% 8 Montgomery-Ward. 18% National Leather.. 7% 7% 7% 7% Sears-Roebuck .... 75% 75% 73 75 Stewart-Warner .. 22% 23 22 23 Swift A Cos 92% 92% 90% 92 Swift Int'l 24% 24% 23% 23% WAGON WHEAT PRICES. Indianapolis flour mills aud elevators today are paying $1.40 a bushel for No. 1 red winter wheat. $1.37 for No. 2 red winter wheat, and $1.34 for No. 8 red •Nlater wheat.

N. Y. Stock Prices

—June 11— Prev. High. Low. Close. Close. Allied Chem.... 39 38%. 38% 39% Allis-Chalmers. 32% 21% 32% 82 Am. Argicul 38% 38 35% 38 Am. Beet Sugar. 29% 29% 29% 30% Am. Bosch Bag. 39% 39% 38% 37% Amn. Can 27% 27% 27% 27% Am. H. A L. pf. 50 50 60 50 Am. Inter. Corp. 36 35% 35% 36 Am. Linseed... 22% 22 22 24 Amu. Loco 81% 81% 81% 83 Am. Smt. A Ref. 39% * 39 39 37% Am. Sugar Ref. 73% 72 72% 74 Am. Sum. Tob. 57% 55% 56 57% Am. Steel Fdy.. 27% 27% 27% 28 Am. Tel. A Tel. 104% 104% 104% 104% Am. T0bacc0...123 121% 122 121% Am. W001en.... 74% 73% 74 73% Atl. Coast Line. 83% 83% 83% 83 Anaconda Min.. 38% 38 38% 38 Atchison 79% 79% 70% 78% Atl. Gif. AW. I. 27% 25% 26% 26% Baldwin Loco.. 76% 75% 75% 76 B. A 0 37% 37 37% 38 Beth. Steel (B). 53 51% 52 62% Cal. Pete 43% 40 43% 40 Can. lac. Ry.,110% 110% 110% 110% Central Leather 36% 36% 36% 35% Chandler Motors 59% 68% 09% 69% C. A 0 56% 55% 66% 56% C., M. A St. P... 25% 23% 25% 20 C., M A St. Ppf 30% 38% 39% 39% Chi. ANw ,64 63 % 63% 63% C., R. I. A P... 31 30% 30% 31 Chili Copper 10% 10% 10% 10% Coca Cola 27% 27 27 27 Col. Gas 54% 53 54% 54% Col. Graph. ... 5% 5% 6% 5% Con. Gas ...... 84% 84% 84% 84% Cont. Can 47% 47% 47% 47% Cosden Oil 28% 27% 28% 27% Corn Prod. ... 64 63% 63% 64% Cruc. Steel 60% 67% 67% 61% Cub. Cane. Sgr. 11% 10% 10% 11% Dome Mines ... 17% 17 17 17% Endicott 01% 60% 61 61 Erie i.. 12% 12% 12% 12% Erie Ist pfd .. 18% 13% 18% 18% Fam. Players .. 63% 62 62 64% Fisk Rub. Cos. . 12% 12% 12% 12% Gen. Asphalt .. 55% 53% 54 55 Gen. Elec 126% 123 126% 121% Gen. Motors ... 9;s 9% 5% 9% Goodrich 33% 33% 33% 34 Gt. No. pfd ... 66% 60% 65% 66% Gt. No. Ore .... 27% 27% 27% 27% Houston Oil ... 62% 01% 62% 61% 111. Central 88 88 8S 89% Inspir. Copper . 33% 33% 33% 52% Inter. Corp 3% 3% 3% 3% Invinc. Oil 14 13% 13% 14 Inter. Hcrv. ... 85 85 85 84% Inter. Nickel ... 15 14% 14% 14% Inter. Paper ... 56 54% 65 56% Island O. A T. . 3% 3% 3% 3% K. C. South. .. 23% 23% 23% 23 K.-S. Tire 36% 36 36% 36% Kenn. Copper .. 20% 19% 19% 20% Lack. Steel 4040 4040% Lehigh YaL ... 48% 45% 48% 48% Lee Tire 27% Loews, Inc 11% 10% 11 11 Marine pfd 50% 50 60% 50% Max. Mot. com.. 2% 2% 2% 2% Max. Mt. 2d pfd. 3% 8% 3% Mex. Petrol.... 131% 125% 130% 132% Miami Copper.. 21 21 21 21 Middle St. Oil.. 11% 11% 11% 11% Midvale Steel... 24% 23% 24 24% Miss. Pac. 8v„ 20 19% £0 19% M. Pae.- Ry pfd. 30% 38% SB% 35% Nat. En. A Stm. 51% 51 51% 61% Nev. Con. Cop. 10% 10% 10% 30% N. Y. Air Brk.. 56 51 66 57 X. Y. Centra1...,67% 67 67 67% New Haven 16% 36% 16% 16% Nor. A West... 53 63 63 63 North. Pacific.. 67 €8 60% 66% Ok. P. A Rf. Cos 2 2 2 2 Pacific Oil 37% 35% 37% 35% Pan-Am. Petrol. 51% 50 61% 61 Penna. Ry 34% 34 34 % 34% People's Gas... 48 47% 47% 47 Pierce Arrow... 19% 13% 18% 19 Pierce Oil Cos.. 8% 8 8 8 Pittsburg Coal 57% 57% 57% 57% Presed St. Car. 76 76 76 78 Pull. Pal. Car.. 95% 64% 95% 63% Pure Oil 26% 25% 26% 26 Ray Copper 12% 12% 12% 13 Reading 66% 66% 66% 06% Rep. Iron A Stl. 49% 45% 48% 47% Keplogle Steel.. 23 22% 22% 23% Ry. D. of X. Y. 56% 54% 60% 65% Sars Roebuck.. 75 74% 74% 75% Sinclair 21% 20% 21% 20% South. Pac 73 72% 72% 72% Southern Ry 19% 19% 19% 19% St.L AS.W.Ry. . 25% 25% 25% 25 Stand. Oil. V J. 125% 125 125 130 St.L.AS.F. com. 22% 22% 22% 21% Stromberg Carb. 33% 33% 33% 32% Studebaker 71% 70% 70% 70% Tenn. Copper... 8 8 8 Texas Cos 34% 33% 33% 83% Tex. A Pacific... 21 20% 21 21 Tobacco Prod.. 54% 54% 54% 63% Transcont. Oil.. 8 7% 8 8 Union Oil 20 19% 19% 20 Union Pac 115% 115% 115% 115% Unit. Ret. Store 56% 65% 56 55% U. S. Food Prod. 16% 18% 19% 18% United Fruit C 0.107% 105 107% 106 United Drug 88% 88% 88% 8.8% U. S. Ind. Alcoh. CO'- 7 59% 59% 60 U. S. Rubber 50% 55% 66% 66% U. S. Steel 77 76% 76% 76% Utah Copper 50 49 49% 49% Vanadium Steel. 27% 27% 27% 27% Vir.-C.ir. Chem.. 27% 27% 27% 26% Wabash Ist pfd. 20% 20% 20% 20% White Oil 10% 10% 10% 10% Western Union.. 87% 87% 87% 87% West'h’se Elec.. 45 45 45 45 White Motors... 84 S3 >33% 33% Willys-Overland 7% 7% 7% 7% Willys-Over. pf. 34 34 34 ..... Worth. Pump... 44% 44% 44% 45%

NEW YORK LIBERTY BONDS. —June 11— Prev. High. Low. Close. Close. L. B. 3%s 88.84 88.70 88.82 88.70 L. B. 2d 4s 86.84 L. B. Ist 4%s .. 87.96 87.90 87.96 87.90 L. B. 2d 4%s ... 80.98 86.90 86.94 86.94 L. B. 3d 4%s ... 91.54 91.40 91.54 91.59 L. B. 4th 4%s .. 87.44 87.06 87.12 87.14 Victory 3%s 98.40 98.40 ■Victory -i%s 98.40 98.34 98.40 98.10 NEW YORK WOOL. NEW YORK. June 13.—Trade In wool was quiet here on the market today. Prjces of the week before were maintained. NEW YORK RAW SUGARS. NEW Y'ORK, June 13.—Raw sugars were easier today. Porto Ricos sold at 4.50 c a pound, delivered. NEW YORK REFINED SUGARS, NEW Y'ORK, June 13.—Refined sugars were easier today with fine granulated selling et 6.25®6.30c a pound. NEW YORK PETROLEUM. NEW Y’ORK, June 13.—Petroleum was dull on the market here today with a few sales of Pennsylvania crude at $3 a barrel. NEW YORK HIDES. NEW YORK, June 13.—Hides weia steady on the market here today. Native steer hides were quoted at 13%c a pound and branded steer hides at 12 ®l3c. NEW YOBX COFFEE. NEW YORK June 13.—Coffee was steady on the market here today, options opening 3 to 7 points higher. Rio No. 7 on spot sold at 7%e a pound. NEW YORK RICE. NEW YORK, June 13. —Rice was firm here today with domestic selling at 2%@ 6%c a pound. NEW YORK TURPENTINE. NEW YORK, June 13.—Turpentine was steady here today at 65c a gallon. NEW YORK CA) L MONEY. NEW YORK, June 13. —Money—Call money ruled 6 pel cent; hb'h 6 per cent: low, 0 per cent. Trot r ,tes, steady; all C% an.. 7 per cent 'l’imc mercantile paper. steady. Sterling ex -hange was steady with business I t bankers bills at $3.74 for demand. CHICAGO PRODUCE. CHICAGO, June 13. —Butter—Receipts, 14,199 tubs; extra, firsts, 31c; firsts, 25® 30c; packing stock, 15®16c. Eggs—Receipts £'t,954 cases; current receipts, 22® 23c; ordinary firs’a 20@21c; lit K 23%® 24c; dirties, 19@2Cc. Cheese—Twins (new), 14c; daisies. 13!4@14c; young Americas, 14®14%c; longnorns, 34®14%c; brick, 14@14%c. Live p..ultry--Chickens, 21%c; springs, 30®35c; roosters, 12c; ducks. 25c. Potatoes —Receipts, 11 cars; Triumphs, $2.50®2.75. INDIANAPOLIS V^'DCCE. Eggs—Fresh, io>s off, TB;. l’oubry— Fowls, 16®20c; spriugers, 1% to 2 lbs, 30© 35c; cocks, 10c; oia tom turkeys, 25c; young hen turkeys, 30c; cull, thin turkeys not wanted, young tom turkeys, 3()c; ducks, under 4 los, 15c: geese. 10 lbs and up, 11c; squabs, 14 lbs tc dozen, $4.30; guineas, 9-!b size, per doz, 32. Butter —Buyers are paying 31@32c per lb for creamery butter, delivery in Indianapolis. Butterfat—Buyers in paying 25c per lb for butterfat, delivered in Indianapolia.

HOG VALUES HOLD STEADY Trade in Cattle Alleys Slow— Sheep and Calves Steady. RANGE OF HOG PRICES. Good Good Good June Mixed. Heav>. Light. 7. 15.15 sß.oo® 8.05 $3.25 8. 8.35® 8.50 8.25® 8.50 8.40® 8.50 9. 8.25 8.15® 8.25 8.25 10. 8.25 8.25 8.25® B.Bb 11. 8.25 8.25 8.25® 8.85 13. 8.25 8.25 8.25® 8.35 Hog prices were steady at the opening of tha local live stock exchange today, with a fair demand and close to 5,000 receipts. There was a top of SS.SS on light hogs, the same top that was maintained on the closing market of the week before, while the bulk of the good swine of all grades brought $8.25. Local packers were the most active buyers on the market. Witir receipts close to 800 and only a fair demand, cattle pricey were no more than steady. However, there were a few extra fancy heifers that sold at $9.50. This sale was really outside the market. in stockers and feeders has been slow for some time. Calf prices were steady today, with a fair demand and receipts close to 400. With 200 sheep and lambs on the market, prices were steady. HOGS. Best light hogs, 160 to 200 lbs average $ 8.25® 8.35 200 to 300 lbs 8.00 Over 300 lbs 8.00 Sows 7.00® 7.25 , Stags 5.00® 5.50 Heat pigs, under 140 lbs 8.25® 8.50 Bulk of sales 8.25 CATTLE. Prime cornfed steers, 1,000 lbs and up 8.00(2 8.50 Good to choice steers, 1,290 to 1,300 lbs 6.75® 7.75 Good to choice steers, 1,100 to 1,200 lbs 7.25® 7.75 Medium steers, 1,000 to 1.106 lbs 7.00® 7.25 Common to medium stecro, 800 to 1,000 lbs 6V3® 7.00 , —Heifers and Cows — Good to choice heifers 7.50® 8.50 Medium heifors 6.00® 7.25 Comrao nto medium heifers .. 0.25® 6.25 Good to choice cows 5.50® 6.75 Fair to medium cows 5.00® 5.50 Cutters 2.75® 3.73 Cauners 2.00® 2.50 —Bulls— Good to choice butcher bulls. 5 00® 6.50 Bologna bulls 4.25® 5.00 Light to common bulls 4.00® 4 73 —Calves — Choice veals [email protected] Good veal 9.00® 9.50 Medium veals 8 00® 9.00 Lightweight veals 6.50® 7.50 Common heavyweight veals... 5.50® 6.50 —Stockers and Feeders — Good to choice steers under 800 lbs 7.00® 8.00 Medium cows 4.75® 500 Good cows 6.00® 5.50 Good heifers 5.25® 825 Medium to good heifers 4.23® 5.75 Good milkers 45.00®55.00 SHEEP AND LAMBS. Ewes 2.50 Lambs 7.50® 10.00

Other Livestock

CHICAGO, June 13— Hogs— Receipts, 4,8,000; market, steady; bulk, $7.90®.5. 15; butchers, $8®8.30; packers, $7.45®8; lights, SB®S.2O; pigs, $7.65®5.15; roughs, $7 15®7.40. Cattle—Receipts, 19.000; market, 10c lower; beeves, $8.40®9.15; butchers, $475®8.50; canners and cutters, $2.23® 4 25; slockers and feeders, $4 50® 7,.75: cows, $4.25®7.25; calves, $7.50® 10. Sheep—Receipts, 17,000; market, 25 to 50c lower, $8.25®11; ewes, $1®2.75. CLEVELAND, June 13 -Hogs—Receipts, 600: market, steady; Yorkers, $8 50; mixed, $8.50; mediums, $8.50; pigs, $8 50; roughs, $6.25; stags, $4.25. Cattle— Receipts, 1,400; market, lower: good to choice slers, sß®9; good-to choice heifers, s7@s; good to choice cows, s4®s; fair to good cows, s3®4; common cows, s2®3: bulls, $4(50; nilicbers, s4o®Bo. Sheep and lambs —Receipts, 1,500; market, steady; top, sl3. Calves—Receipts, 1,000; market, 50c up; top, $10.50. CINCINNATI, June 13.—Hogs Receipts, 8,800; market steady; heavy hogs. s7.is®B; mixed, $8; mediums, $8.25; lights and pigs, $8 50; rough*. $6.50; stags, $4.50. Cattle—Receipts, 2,000; market weak, generally 25e lower: bulls steady; calves. $lO. Sheep and lambs— Iteeeipts, 6.500; market steady. EAST BUFFALO, June 13—CattleReceipts, 3.000; market slow, 10®15c lower; shipping steers, $8®8.35; bntehr grades. $7.75(28 25; heifers, ss® 7.75; cows, $2.25®8; bolls, $t.25®6; milch rows, springers, $50®120. Calves—Receipts. 3.000; market active, 50c lower; culls, choice, s4®ll. • Sheep and lambs—Receipts, 8.000 ;market active. $1 lower; choice lambs, sl-®l2: culls fair, s3® 10.75; yearlings, $0@10; sheep, [email protected]. Hogs—Receipts, 1.800; market active, 25c lower; yorkers, $8.05; pigs, $8.65; mixed, $8.65; heavies, SS.OS; roughs, $C®6.25; stags, $4.50®5. PITTSBURG, June 13.—Cattle—Receipts, 00 cars; market lower; cholcee, $8.00®9; good, -$8.5069: fair, $8®8.50; veal calves, $10.50®11. Sheep and lambs —Receipts, 16 doubledecks: market steadv; prime wethers, $3.25%5.50; good. $4.50®5; mixed, fair, $3;4; spring lambs, $6®12.50. Hogs—Receipts, 70 doubiedecks; market lower: prime heavies, $8®8.10; mediums, $8.35®8.50; heavy yorkers, $8.35®8.50: light yorkers, $8.35 @8.50; pigs, $8.35@5,50; roughs, $3®0.23; stags, [email protected]. EAST ST. LOUIS, 111.. June 23.—Cattle —Receipts. 4,300; market stendy; native beef bteers, $7.75®8.25; yearling beef steers and heifers, $8®8.25; rows, s4®6; stockers and feeders, $4.75®6.25; calves, $9®9.50; canned and cutters, [email protected]. Ilogs—Receipts, 3,500; market steady; mixed and butchers, [email protected]; good heavies, $7.75@8; rough heavies, sl® # l.9o; lights and pigs. [email protected]; bulk it sales. $7.90®8.05. Sheep—Receipts, 500; market lower; ewes, s3@4; lambs, $3. f5(g.9.50; canners and cutters, sl®2.

In the Cotton Market

NEW YORK, June 13.—Cotton opened quiet and steady today, -with prices unchanged to 5 points higher. Improved labor advices from Great Britain, with intimations that the troubles In the coal and spinning industries were nearing an end encouraged a little support from commission houses, in addition to which there was moderate buying for Japanese account and a demand from Wall street. This demand was supplied by the Southwest ai ", local traders. At the end of the first fifteen minutes, the list was steady at about 5 net higher. New York cotton opening: July, 12.33 c; October. 13.15 c; December, 13.61 c; January, 13.75 c; Marcr. [email protected]; May, 14.30 c. The market improved In the late trading. The close was ste: dy at a net decline of 6 points to a i?t advance of 4 points. LIVERPOOL, June 13.--Spot cotton wan quiet at the opening of the market today. Prices were unchanged with sales close to 3,000 bales. American middlings, fair, 10.700 , good middlings, 8.80d; full middl'ngs, 8.40d; middlings, 7.75d ; low 6.75d; good ordinary, 5.60d ; ordinary, 4.75d. Futures opened quir t. WHOLESALE lEED PRICES. Ton. Cwt. Acme Bran $27.00 $1.40 Acme Feed 28.00 1.45 Acme Midds 30.00 1.55 Acme Dairy Feed 87.73 1.95 E-Z Dairy Feed 30.50 1.55 Acme Stock Feed 26.50 1.35 Cracked Corn 81.50 1.00 A-oe Chick Feed 40.75 2.10 Acrtr. Scratch 27.75 1.95 E -7 Scratch 35.50 1.80 A'me Dry Mash 41.00 2.10 Acme Hog Feed 39 50 2.00 Homlick Yellow 27.00 1.40 Rolled Barley 39.25 2.00 Alfalfa Meal 33.75 1.75 Cottonseed Meal a 38.00 1.95 Linseed Oil Meal® 42.00 2 13 Chick Mash .. FLOIfIViND MEAL. E-Z-Bake in 98-lb. cotton bags $9.50 Corn Meal In wm,. cotton bags...j, 2.00

INDIANA DAILY TIMES, MONDAY, JUNE 13,1921.

WHEAT VALUES MAKE GAINS Unfavorable Crop Reports Chief Mart Influence. CHICAGO, June 13.—Wheat again made big gains on the Chicago Board of Trade today following receipts of additional unfavorable crop reports. Provisions are irregular. July wheat opened up 2%c at $1.41% and lost l%e at tfae close. September wheat opened up 4c at $1.28 and closed off %c. July corn opened at 64%c, up %c and closed up %c. September corn opened up l%c at 65%c and closed up %c. July oats opened at 39c, up lc and closed off %c. September oats opened at 41c, up 1%0 and closed off %c. (By Thomson A McKinnon.) —June 13 —- Wheat—High temperature over wheat territory, more black rust talk from Nebraska and shorts covering were early influences. The very face of high temperatures in the winter wheat belt, with no rains, was just what was needed to force the wheat along to early harvesting and numerous reports came in of cutting from different directions. This has a very significant value just now in that it will make earlier deliveries than expected and have aa effect on the high cash premiums as well. This was confirmed by a decline in red w-heat premiums here of some 5 to 7 cents. Selling was In evidence from substantial quarters and especially by the larga commission bouses that were large buyers latst week. All the advances today brought free profit taking. It was due of itself and was, also, helped at one time by the weakness in stocks in Wall street. The visible Increase was much larger than expected. Any new export business, owing to bad exchange contii tions, was übsent. The technical situation and the ne weash wheat position both are such as to invite caution on the buying side now, except on good recessions. Much will be beard this week of an early winter wheat movement affecting cash prices. Corn and Oats —Corn and oats partlpated In the wheat strength early, but met profit taking and selling against offers, Increase in visible supplies was much larger than looked for. However, receipts are falling off and we feel friendly to both of these grains, as cash wheat will rule high enough to help them for sonre time to come. Provisions - Advanced with graiin in face of large hog receipts, l’riees are too near right to expect anything but some help on the constructive side before long.

CHICAGO GRAIN TABLE. —June 13 — WHEAT— Open. High. Low. Close. July 1.41% 143% 138% 140 Sept.... 1.28 1.29% 1.25% 1.27% CORN— July 64% .65% .64% .64% Sept 65% .66 .64 % .65% OATS July 39% .40 ,35% .35% Sept 41 .41% .40% .40% PORK— July.... 17.55 17.C0 17.50 17.50 LARD— July 987 10 00 9.87 9.90 Sept 10.15 10.32 10.15 14i2 RIBS— Julv.... 10 15 10.32 30.15 10 15 Sept 10.42 10.62 10.40 10.40 RYE— July..,. 1.33% 134% 1.31 131% Sept.... 1.12% 1.16% 1.14% 1.15% CHICAGO CASH GRAIN. CHICAGO, June 13.—Wheat—No. 2 red, $1.53®1.54; No. 4 red, $1.52; Nl. 2 hard winter, $1.06%; No. 3 bard winter. $1.1)0; No. 1 northern spring. *1 46; No. 3 northern spring, $1.61%. Corn —No. 2 white, 64® 65c; No. 2 yellow, 04@65e; No. 1 mixed, 04®64%c; No. 3 white, 64c; No. 3 j ellow, C4c : No 3 mixed, 63%®64%c; No. 5 white, 62®63%c; No. 4 yellow, 62%c. Oats—No. 1 white, 39®39%c; No 2 while, 38%®39%c: No. 8 white, 37%@3a*,' : No. 4 white. 2C@3Sc. TOLEDO CASH GRAIN. , TOLEDO, June 13. —Cloverseed-Cash, $13.75; October, $12.25; December, $11.05. Alslke—August, $12.25 bid; October, $11.73. bid. Timothy—l9lß cash, $3.05; 1010 cash, $3 10; 1920 cash, $3.15; September. $3.55; October, $8.45. Wheat—Cash, $1.57: July, $1.44; September, $1.42. Ccm —Cash. 64®65c. Oats—Cash, 42c. Rye Cash, $1.45. Barley—Cash, 71c. PRIMARY MARKETS. (By Thomson A McKinnon.) —June 13 — Wheat. Corn. Oats. Chicago 61,01)0 656,000 317.000 Milwaukee ... 99.000 234.0(H) 203,000 Minneapolis . 521.000 79,000 171.000 Duluth 371,1KK) 32,000 20,000 St. Louis ... 205,000 148,000 142,000 Toledo 8,000 18,000 29,000 Detroit 6,000 10.000 14,000 Kansas City . 448,000 149,000 24,000 Peoria 1,000 53,000 67,000 Omaha 101,000 31,000 24,000 Indianapolis . 32,000 49,000 38,000 Totals 1,633.000 1,461,000 1,009,000 Year ago ...1,219.000 1,446,000 620,000 —Shipments— Wheat. Corn. Oats. Chicago 61,000 1,386,000 122,000 Milwaukee ... 78,000 398,000 58.000 Minneapolis .. 224,000 20,000 S.OOO Duluth 159.000 41,000 St. Louis ... 113.000 61,000 97,000 Toledo 1,000 8,000 33,000 Kansas City . 238.000 50,000 14,000 Peoria 5,00 20,000 36.0(H) Omaha 70,000 90,000 20,000 Indianapolis 29,000 20,000 Totals 049,000 £1 12,000 408,000 Year ago .. 677,000 538,000 436,000 —Clearances— Dom. Wheat. New York 96,000 Galveston 2,342,000 Total 2,438,000 Year ago 1,020,000

INDIANAPOLIS CASH GRAIN. •—June 13— Bids for car lots of grain and hay at the call of the Indianapolis Board of Trade were: Wheat—No sales. Corn—Finn: No. 2 white, 66%®67%c: No. 3 white, 65®06c; No. 4 white, 63%® 64%c; No. 2 yellow, 62@C3c; No. 3 yellow, 61%@02%c; No. 4 yellow, Co@Glc; No. 3 mixed, 60@61c. Oats—Firm; No. 3 white, 39%®40%c; No. 3 white, 39®39%c. Hay—Steady: No. 1 timothv, $18.50® 19; No. 2 timothy, SIS®IS 50; No. 1 light clover mixed, $17.00@18; No. 1 clover hay, sl6® 17. —lnspections Wheat—No. 2 red, 2 cars; No. 3 red, 1 car; sample, 1 car; total, 4 cars. Corn—No. 1 white, 3 cars; No. 2 white, 30 cars: No. 3 white, 4 cars; No. 4 white, 1 car; No. 5 white, 1 car; No. 1 yellow 5 cars; No. 2 yellow, 11 cars; No. 3 yellow, 1 car; No. 4 yellow, 1 car; No. 1 mixed, 2 cars; No. 2 mixed, 5 cars; sample mixed, 1 car; total, 63 cars. Oats —No. 1 white, 2 cars; No. 2 white, 22 cars; No. 3 white, 1 car; total, 25 curs. Hay—Standard timothy, 1 car; No. 1 clover mixed, 2 c. n rs; no grade, 1 car; total, 4 cars. CLEVELAND PRODUCE. CLEVELAND, June 13.—Butter—Extra In tubs, 37@37%e; prints, 38@38%c; extra firsts, 36@36%c; firsts, 35®33%c: seconds. 2S(l'2S%c; fancy dairy, 17@2Cc, packing stock, 12®17c. Eggs—Fresh gathered, northern extras, 2S%c; extra firsts, 27%c; Ohio firsts, new cases, ‘lsc; old cases 24%@25c; western firsts, new cases, 24c. Poultry—Live heavy fowls, 2G@27c: roosters, 16c; broilers, 35@50c; live spring ducks, 35@i8c. HAY MARKET. The following are the Indianapolis prices for hay by the wagon load: Hay—Loose timothy, new, $18@19; mixed hay, new. $16@17; baled, $16@17. Oats—Bushel, new, 38@40c. Corn—New. 00@05c per bushel Band of Wreckers Blamed for Wreck MONTREAL, Juqe IS—The derailing of a train at Highlands, in which two men were killed, was blamed by Canadian National Railway officials on a band of wreckers believed to be operating in Quebec. Investigation Bhowed a switch had been opened. Last week the Cushing station was dynamited and rails were placed on the track* at Morin Height*,

On Commission Row

TODAY’S PRICES. —Fancy, all grades, per bbL, Asparagus—Fancy borne grown, per doz., 50c: large bunches, per bch.. 50c. Bananas—Extra fancy high grade fruit, 50c to 60c per 'bunch, per lb.. B%c. Beans—Michigan navy. In bags, per lb., 4%@5c; Colorado Pintos, in bags, per lb, 7@7%e: California limas, in bags, por lb., 7%@Bc; red kidneys, In bags, per lb., 12@13c; California pink chili. In bags, per lb„ 7@Sc. Beans—Fancy green, per hamper, $3.50. Beets —Fancy new, per doz. bchs., 75c Cabbage—Fancy new, per crate, $3.25; less than crate, per lb, 6c. Carrots—Fancy, borne grown, per bpr., $8.50® 9.50. Grapefruit—Extra fancy Florldas, all brands, per box, [email protected]. Kale—Fancy, homegrown, $2.30. Lemons —Extra fancy Californias, 300, to 3605, sS.r>[email protected]. Lettuce —Fancy hothouse leaf, per lb., 12c; fancy hothouse leaf, in barrel lots, per lb., 10c; fancy California iceburgs, per crate, *5.50. New Potatoes —Fancy Eastern Cobblers, per bbl. $6. Onions—Fancy Texas yellow, per crate, $2. Oranges—California, all grades, per box. $4.75®6.00. Peas—Fancy homegrown, bu, $2.50@3, Pieplant—Outdoor, per doz., 85c. Pineapples—Fancy Cuban, per box, $4 50@6. Radishes—Long red, per doz., 20c; button, iynue-grown. per doz.. 20c. Spinach—Fancy, per bbl, $2.75. Strawberries - Fancy Tennessee, per 24-qt crates, s6@7. .

Weather

The following table shows the state of the weather at 7 a. m., June 13, as observed by U. S. Weather Bureaus: Station. Bar. Temp. Weather. Indianapolis, Ind... 29.98 14 I’tCldy Atlanta, Ga 30.04 74 Clear Amarillo, Texas... 29.90 66 Cloudy Bismarck, N D 29.98 64 I’tCldy Boston, Mass 29.82 62 Rain Chicago, 111 29.92 80 Clear Cincinnati, 0hi0... 30.00 76 Clear Cleveland, 0hi0.... 29.86 76 I’tCldy Denver, Colo 29.88 64 Clear Dodge City, Kan.. 29.96 68 Cloudy Helena. Mont 29 72 66 Clear Jacksonville, Fla... 30.06 78 dear Kansas City, M 0... 29.98 66 Clear Louisville, Ky 30.2 76 Clear Little Rock, Ark... 30 04 72 Cloudy 1-os Angeles, Cal. 29.98 58 Clotulv Mobile, Ala 30.08 78 Cloudy New Orleans, I-a., 30.08 t 78 PtCldy New Y'ork, N. Y.... 29 84 68 Cloudv Norfolk, Ya 29.92 78 I’tCldy Oklahoma City .... 29 78 70 Cloudy Omaha, Neb 2994 78 Clear Philadelphia. I’a... £9.88 70 Clear Pittsburgh, Ta 29.92 70 PtCldy Portland, Ore. 29 84 58 Cloudy Rapid City S. D.. 29.82 66 PtCldy Itoseburg. Ore. .. 29.84 50 PtCldy San Antonio, Texas 29.98 74 PtCldy Snn Franclrco, Cal. 29 98 52 Clear St. Louis, Mo 30.00 78 Clear St. Paul, Minn 30.00 68 PtCldy Tampa, Fla 30 06 78 Ptddy Washington, D. C. 29 W 74 PtClay WEATHER CONDITIONS. Thunder shower* have been general In the west Gulf region, and scattered rains have occurred In the eastern and northern parts of the country since Sunday morning. W hile the chatiKes in temperature have not been decided over large areas, except in the far northwest, where It Is warmer, the readings from the middle Atlantic coast and the lakej region westward beyond the Great Divide ure considerable above the average for tne reason. J. 11. ARMINGTON, Meteorologist, Weather Bureau. CORN AND WHEAT BULLETIN. For the twenty-four hours ending st 7 a. in., 90th meridian time, Monday, June 13: Temper-1 ature. | a * j Stations of j -L-cfJj _„• Indianapolis • j "g - _ S *>> District. SC g •fl • C c T : c= i Ss!©2 . *• 5 3 _ .2.2 —Sa ’C Z South Bend 1001 69 | 6 Good Ft. Wayne iB6! 68 I 0 Wheat field i9l 63 | 0 ! Good Royal Center.... 1 86 ; 68 0 ; Good Marlon 'O2 69 0 Good Lafayette ! 90 ! 68 0 1 Good Farmland 88 j 63 0 ] Good Indianapolis .... 89 69 0 Godd Cambridge City. I 90 66 0 (Good Terre Haute 90 70 0 Good Bloomington 89 64 0 (Good Columbus .... ;00 65 0 Fair Vincennes 194 68 0 Good Paoli i 86 66 0 | Good Evansville '9O 1 72 0.48; J. n. ARMINGTON, Meteorologist, W’eather Bureau.

Card Thrown From Train Wins Bride HAGERSTOWN, Md , June 13.—When Peter Fardulls, a young Ohioan, threw a card bearing his name and address out of a car at Dickerson as ha was traveling from Washington to his home after a discharge from the Army two years ago he sealed his matrimonial fate, for it resulted tn his marralge to Miss Virginia Mulllean, 17, of Dickerson. Fardulls’ card bore the suggestion that the finder should communicate with him. This Miss Mulllean, who picked up the card, did. Correspondence ensued, and engagement ! y mall resulted. Then Fardulls visited Dickerson. He and the young woman went to Rockville and were married by the Rev. Nola* D. Harmon, Jr., pastor of the Methodist Episcopal Church. State Crop Letter Showers In the southern part of the State during the past week were very beneficial to late planted crops. Temperatures were close to normal. The condition of corn In all parts of the State Is very good and weather conditions are favorable. Wheat cutting has commenced in the southern counties and will be general over the southern half of the State next week. The condition is variable. Red rust and Hessian fly are the principal deteriorating agencies. The spring wheat condltioi generally is satisfactory. Weather conditions have been mope favorable for oats, but the stand Is very uneven and thin in many fields. Barley is in about the same condition as oats. Rye cutting has commenced In the southern counties and will be general over the southern part of the State next week. Conditions now indicate a larger yield than usual. Early potatoes are being harvested in the southern counties, with fair to good yields. Planting of late potatoes is about completed. Recent rains were very beneficial to sweet potatoes in the commercial district. Clover cutting has begun, but is not making the yields indicated earlier in the season. Timothy is fair to good and the second growth of alfalfa is only fair. Transplanting of tobacco has been completed under favorable conditions and the crop is starting well. Strawberries are about gone. Raspberries and blackberries look like a good crop at this time. Other small fruits are in good condition. All classes of live stock are In good condition. Pastures ara furnishing plenty of feed a: this time. The labor supply is more than equal to the demand. Cost of Education in Public Schools Rises PHILADELPHIA, June 13—It cost $81.50 for the education of each public school pupil in the city last year. This is an increase of $20.50 over the cost of the preceding school year. Philadelphia stands eleventh In the list of cities with regard to expenditure per pupil. Pittaburgh leads tbe list with $30.6,54.

Marriage Licenses William Jackson, 339 E. North 27 Hazel Goodmand, 628 N. Alabama 29 Edmond Smith, 2326 N. Illinois 26 Inez Reynolds, 1034 S. Keystone ave... 18 Bjorn Winger, 891 M. D. Wood. Place. 29 Florence Anderson, 585 M. D., Wood Pi. 32 Raymond Ellis, 1032 W. 18th 24 Irene Follett, 110 Kansas 26 Gilbert Hendricks, 227 N. Highland. 22 Mary Sheeks, 1138 S. Belmont ave.... 21 Joseph Murphy, Glenarm, 111 39 Louise Wenek, 1850 Ludlow ave 39 Wickliffe Lewis, 3240 Ruckle ....... 27 Margaret liarlan, 3122 N\ New Jersey. 26 Judson Hall, Alexandria apart 50 Ella Higdon, Alexandria apart 46 Louis Rablnowitz, 1032 S. Illinois 25 Anna Schneider, 1802 Orleans 22 Nolan Sleeth, 1107 S. East 2§ Neva Beaver, 1522 Olney 19 William Winter, 133 N. East 48 l ienor Brown, 133 N. East 46 V alter Karshman, 22 E. Vermont 39 Jennie Hensen, 21 E. St. Joseph. 32 William Johnston, 1314 N. Keystone. 86 Inez Butcher, 1218 Congress ave 29 Albert Summers, 5514 Greenfield ave. 26 Hazel Alexander, 1012 Columbia ave. 29 Theodore Koofman, Indianapolis 26 Eka Bloemhof 3621 Station ave 20 Richard Sheets, 3022 N. Gale 20 Lera Patterson, 3026 N. Gale 20 Walter Motslnger 1209 Parker ave.... 26 Leila Stout, 1308 Ewing 26 Samuel Shaffer, 22 S. Oriental 42 Alice Reel, 1432 S. Deloss 18 Grant Brtmson, 1234 E. 17th 54 Lizzie Ehisher, 1234 E. 17th 51 Paul La Shorne, 114 8. Denny 19 Nellie Kyker, 1015 Sanders 19 James Grubbs Jr., Greenwood, Ind. 24 Brownie Haston, Lynchburg, Tenn. 27 Births Fred and Maude Wlckersham, 1305 S. Sheffield, girl. Edgar and Alice Ratcliffe, 119 N. Noble, boy. Fred and Barbara Blomeyer, 1244 Lee, girl (twins). Louis and Bertha Litvak, 916 Charles, girl. William and Hazel Kidwell, 344 S. Hamilton, girl. John ind Dawn Foster, 1722 E. Terrace, giri. Victor and Teresa Pfau, St Vincent's hospital, girl. I’andlle and Theodora Shaneff, 336 N. Blackford, boy. Doyle and Hazel Rafuel, S3 i Massachusetts, giri. Joseph and Irene Guidone. 717 Colorado, girl. Chester and Lois Bruback, 607 E. Merrill, boy. William and Margaret Clerry, 1338 S. Harding, girl. Henry and Kathferlne Stokes, 45 W. Morris, boy. * Harry aud Mattie Harvey, 1616 Williams, girl. Henry and Sophene Fuhrman, 924 Goodlet, boy. Richard and Francis Watts, IS S. Forrest, giri. Mike and ralamba Albocher, 919 S. Illinois, boy. Leih. and Evalyn Bird, 1C35 Lafayette, girl. Albert and Edna Hawson, 635 Russell, boy. Starks and Lola Brewer, 9G5 N. Tremont, girl. Deaths Anna D. Nichols, 81, 1519 Fletcher, arterio sclerosis. Nancy Jane Cooley, 66, 1101 Bacop, organic heart disease. Frances America Kautz, 83, 4059 North Pennsylvania, chronic myocarditis. Ed itedmeier, 48, Flower Mission, pulmonary tuberculosis. Opal Divtuell, 20, Deaconess Hospital, peritonitis. Frank Dedrich Winter, 72, 936 Eastern, arterio sclerosis. Mlnnard A. Green, 46, Methodist Hospitay, Addison's disease. Zora Neaville, 59. Eastman Hospital, tubercular peritonitis. Mary Ann Grimm, 60. 1118 Shelby, chronic Interstitial nephritis. John Hawkins, 62, city hospital, lobar pneumonia. Thomas Elwood Bindley, 84, 2126 College, angtnn pectoris. Bertram De Witt Wlllber. 47, 2934 Pennsylvania, chronic nephritis. Maud C. Buidon, 41, 221 West Maryland, cirrhosis of liver. Margaret E. Hamilton, 77, 767 N. Warman, mitral Insufficiency. James R. Tyner, 11 mouths. 1061 West Thirty-Fifth, "whooping cough. Albert R. Schilling. ''l. 639-South Delaware, cerebral apojilexy. Frank Branigan, 61, 1415 Jefferson, carcinoma.

AVERTED PANIC BY FEDERAL RESERVE PLAN Credit Men Oppose Meddling With ‘Efficient Administration of Act.’ SAN FRANCISCO, June 13.— Declaring that the Federal reserve system prevented a panic in this country, the "Committee on banking and currency this morning presented a report to the convention of the National Association of Credit Men in which attention is called to the importance of preventing political meddling or any other type of interference that would diminish the powers of the present efficient administration of the act. The report read 9 in part: “The Federal reserve sysitem has been exhibiting abilities to protect and support sound business during periods of storm and stress even greater than the framers of the act could have anticipated. Rapid deflation is inevitably attended with great danger, but through the most violent deflation in man's experience the Federal reserve system has seen pomrnerce successfully brought hack to what are felt to be sound conditions. Without the great national banking system we would most certainly have been plunged into perhaps the most disastrous period in the nation's industrial history. The administration of the Federal reserve system has been conducted on a high plane, free from-political bias and all suspicion of sectional cr class favoritism and control. This independence of action ad dedication to the very highest motives of national service ha sheen one of the assuring factors in our depression and caused us to recognize the necessity of preserving the administration of our great banking system free from any influence or attack that would interfere with its single-minded devotion to the public interest.. SEEK SUPPORT OF BANKERS. “The defense of the par collection system of the Federal Reserve Banks has long been a special obligation resting upon the National Association of Credit Men. The North Carolina statute aiming a direct blow at the par collection plan of the Federal Reserve Banks, was felt by the committee to bo most injudicious nnd certain to react unfavorably upon the commercial interests of the Stale. Such legislation, it is felt, is inly for the benefit of very few nnd against the interests of the great majority o feitizens. The abilities of our legislative committee in Oregon to defeat a similar measure Introduced In that State, and the promised success of the Wisconsin Legislative Committee to defeat a bill of similar Import, are here noted with genuine satisfaction. The work of our Oregon and Wisconsin members shows conclusively how necessary it is to have an organization equipped at all times for emergency service. “The studies of your committee have led to the conclusion that the trade acceptance has not come into that general use which would be expected in view of the advantages the acceptance affords. This instrument shoulo receive the endorsement and support f sellers and buyers of merchandise an V bankers.” WHOLESALE BEEF VRICES. The folowiug are toau 's wholesale prices for beef cuts as sola on the indi-. ana polls markets: Ribs—No. 2,22 c; No. 3,20 c. Loins— No. 2,25 c; No. 3,20 c. {Rounds —No. 3 20c: No, 3.18 c. Chucks-i No. 2,10 c; No. Bc. Plates—No. 2. 7c;|No. 3. Gc,

MANDATE IDEA NEW PRINCIPLE IN GOVERNMENT Lucid Explanation of Theory and Practice of Mandatory Proceedings THE LEAGUE OF NATIONS By FERDERIC J. HASKFN. " WASHINGTON—What is a mandate, and what .s the relation of the United States to cae various mandates that have been banded out by the League of Nations to Us members? The mandate is asserted by international lawyers to be anew principle In internatioDL. relations. We are going to hear a greet deal about mandates in the next few ytars, and it is very likely that some of us are going to be called upon to fight about them. Therefore, let us see, if possible, what a mandate is. In theory a mandate is an order from a league of the civilized nations of the world to one of those nations, making it responsible for the welfare of a certain nation or piece of territory considered to be less civilized. The ideal of the mandate is that the civilized nations, instead of exploiting the backward ones, each as it can, should care for them tenderly and be responsible to the whole world for the results. In practice, a mandate is permission given by the powers which won the late war to one of those powers, to supervise the affairs of some backward country The mandatory nation enjoys cer-. tain advantages in that territory, but it also has certain responsibilities to the League of Nations, which, If enforced would raise the v development of backward countries to a higher level both from the economic and the humanitarian point of view. Os course. In this matter, everything really depends upon what, the council of the league wants to do aud is able to do. The mandate also seeks to keep one nation from exploiting exclusively a backward territory, and to give the other members of the league certain rights iu it. But it does not do as much for the nations which are not members of the league. And that i3 the chief interest of the mandate for the United States. By reason of our failure to join the league, we have not, In the opinion of the members of the league, the same rights in mandatory territory that they have, although we bore a full share In the war.

THREE KIND OF MANDATES. The council of the League of Nations acknowlcgeds three chief kinds of mandates. The A class mandates cover former Turkish possessions including Mesopotamia. The B class mandates cover islands of the Pacific, south of the equator, and the C class mandates cover islands In the Pacific, north of the equator. The Palestine mandate is in a sense a fourth kind. It is often said that A, In mandatory ; language, stands for oil, and C stands sot cable3. In the administration of the B i class mandate, therefore. If anywhere, wt will see exemplified that high lnterr-a tionai altruism which is supposed to be the motive of the mandate. According to the terms of this mandate, Samoa Is to be administered by New Zealand; Nauru (Pleasant Island), in ttie Pacific Ocean, a short distance south of the equator, by Great Britain; German Southwest Africa, by the Union of South Africa; and former German possessions In the Pacific south of the equator (other than Samoa and Nnurn), by Australia. These mandates of Class B, provide for the promotion and material well-being of the territories under mandatory powil. They prohibit slave traffic and forced labor in these territories except for the essential public works for which adequate remuneration is paid. These mandates do not affect the individual-ownership of land in the territories under mandatory rule. The taxes and general policy are more or less affected by such a change of government. In accordance with the Treaty of Versailles, all of the former German possessions will be so affected. Mandates prohibit traffic in arms and ammunition between the natives of the mandatory territories and other countries. Intoxicants for the natives are prohibited and military training of the natives forbidden except for police and local defense forces necessary to keep peace. On the other hand, tha power holding the mandatory right is not allowed to build military or naval bases or to establish any fortifications in the territory under dts authority. The free exercise of all forms of religious worship is allowed, and missionaries, nationals of states, members of the League of Nations, shall be permitted to travel and reside in the territories and follow their callings. Provisions are made for educational freedom and advancement, also. POSITION OF ASSOCIATED POWERS. Mandatories are required to report to the League of Nations annually on the territory under mandatory rule and the measures taken to carry out their obligations in accordance with the above rulings. The consent of the council of the League of Nations is required to make any modification of the terms of a man date. This declaration Is deposited In the archives of the League of Nations and copies forwarded to all the powers signatory to the treaty of peace with Germany. It is to be noted that "members of the League of Nations,” are granted special privileges, according to the terms of such mandates as the above, but associate powers are not necessarily Included in these privileges on mandatory territories. The United States is, of course, an associate power, having never joined the League of Nations or signed the peace treaty. It is upon just this exclusion of our Government from a voice in these matters and above-mentioned privileges granted to members of the League of Nations, that the United i. Government protests. This exclusion carefully stated in the Mesopotamia, Pales.ine and Y'ap mandate drafts, as well as in the B mandates. In a note to the Secretary of State

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(then Balnbridge Colby) the president of the council of the League of Nations (Gastao da Cunha) says: “The most fundamental contention brought forward by the American note is that the ‘approval of the United States of America is essential to the validity of any determination which mffF be reached’ respecting the mandates which have been, or may be submitted to tha judgment of the council. “The United States was one of the leading actors both in the war and in the negotiations for peace. The rights which it acquired are not likely to be challenged In any quarter. But the American Government will itself recognize that the situation is complicated by the fact that the United States, for reasons which the council would be the last to question, has so far abstained from ratifying the peace treaty, and has not taken her seat of the council of the League of Nations.’’ In mandate A, the British Government proposes definitely that “Nationals of any country not a member of the League of Nations have no rights whatever in Mesopotamia.” This has been interpreted generally as a partial reply to the unanswered note of former Secretary Colby that the United States should share in the spoils of war so far as they relate to oil. This has also been construed as another effort to force our Government to enter the league, as the draft emphasizes that only members will be given rights and such members will have almost unrestricted trade and opportunities to develop the natural resources of Mesopotamia. The other terms of the Mesopotamia, or Near East mandate, are similar in affect to those of the B mandate already quoted. President Attends Sidewalk Banquet HAVANA, June 13.—A "sidewalk banquet” was one of the features of tha post-inauguration ceremonies attended by President Alfredo Zayas. It was given by an organization known as “The Boy* of the Louvre Sidewalk," a group accustomed to meet daily under the portico in front of a building formerly occupied by the Hotel Louvre. The hotel no longer exists, nor are the members of the organization any longer boys, but they still gather at the old meeting place, which fronts on Central Park. Far from devoting all their time to ogling women passengers, the “boys” engage in heated debates on questions of the day and outline the political attitude they will assume. Since they come from among the best families of the capital, their influence is not inconsiderable, nor do they lack for publicity.

‘Get Back BergdolP Club in Syracuse SYRACUSE, N. Y„ June 13.—" Get back Bergdoll!” This is the name of a club organized here with Bernard E. Given, of Syracuse, as its charter member. It is the Intention to spread the organization troughout the United States. It was formed with the purpose of bringing influence to bear upon Secretary oi State Hughes to set in motion ways and means by which Grover Cleveland Bergdoll, arch draft dodger, can be brought back from Germany to the United States and forced to pay the Penalty for the crime for which he was convicted. An appeal will be made to ex-servica men, their wives, mothers, fathers and sweethearts to demand through the Government at Washington the surrender of Bergdoll. Neaf and Zimmer, the two Americans who went into Germany and attempted to kid nap the fugitive, will be proposed as honorary presidents of the club. MUTE INVENTS A. 3L ALARM. DENVER, Colo., June 13.—Elza Cretzer, a Denver mute, worried because he overslept, so he “invented” a contrivance that works as an alarm clock, assuring his rising at the desired hour. Cretzer made a block of wood in the shape of a letter “T,” the top of which is wrapped in beavl folds of cloth. TV arm of the “T” is set under a wire that is connected with an alarm clock over Cretzer's bed. When the alarm goes off the winding screw strikes the wire, releasing the block of wood, which tumbles down and strikes Cretzer on the head. “The best alarm clock I ever had,” Cretzer says.

What is Ahead of the Railroads? statistical department has prepared a concise but comprehensive analysis of the railroad situation that should be read by all who hold or con template buying railroad securities. It will help you to get a clearer view of the future of these securities, as it contains much data relating to physical conditions and legislation, as well as finances. Write us for a free copy of u filial Is Ahead of the Railroads ** KRIEBEL 8c CO. Investment Bankers Kahn Bldg., ludianapoiis, Ind. Kansas City Chicago Milwaukea Rockford Detroit Cleveland St. Louis Cincinnati

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