Indianapolis Times, Volume 34, Number 100, Indianapolis, Marion County, 6 September 1921 — Page 10

10

HOPEFUL SIGNS READ IN RECORD RISE OF COTTON r Business Sentiment Hasn’t Begun to Measure Benefits of Upturn. r" 1 1 ‘STREET IS WAKING UP Special to Indiana Dally Times and Phil -delphia Public Ledger. By MONITOR. NEW YORK, Sept. C.—lt has been extremely difficult for any development of an encouraging or constructive character to gain recognition or make headway against the prevalent tide of pessimism in market circles. For a time it looked es if nothing that was not bearish would receive consideration. Many of the sac- j tors rssponsible for the decline in securt- i ties and the depression la business long j since have exhausted their efficacy like a storm that has passed out to sea. but the havoc wrought on nerves and views i has remained. The chief bear factor was the strained ; banking position and the accompanying ! decline in the Federal reserve ratio. The ; banking position is now sound as a dollar, and the ratio for the combined Fed- | reserve system is 66.S compared with 42-5 : a year ago. Predictions have been rife that no wage reductions could be established by the steel Industry and railroads without a bitter labor war. These gloomy forecasts apparently were without basis. Wages have been reduced, me operating costs of the railroads have been cut aud the production costs in the steel industry have been substantially lowered. One of the discouraging features from a market standpoint has been the failure of financial sentiment to respond to those cot-structive elements, or to be cheered by the fa<-t forebodings of disaster have not materialized. RECORD PRICE OF COTTON POWERFUL FACTOR.

One development, however injects a new and evidently powerful factor into the situation. This is primarily the record rise in cotton prices and Its inheritable repercussions elsewhere. It is doubtful if business sentiment even has begun to measure the results of this m 'jemert and its ramifications. Basically peaking, it starts with cotton. At the' \d of July the South had a carryover In the cotton belt —this should not be confused with the world carry-over—-of 5.200,000 bales. According to the Bureau of Crop Estimates, this is likely to receive an addition of 7.000.000 bales. This is a total of 12,000.000 bales. On Aug. 22, taking the New York October position as a basis, cotton was approximately 13 cents a ponnd. On Friday of last week it reached IS cents, and there are few cotton men who do not believe it is inevitably destined for still higher prices. This is a rise of 5 cents a pound, or roughly speaking. $25 per bale. In other words, the South stands a good chance of realizing in the neighborhood of $300,000,000 more for its present and prospective supply than it was believed to be possible to obtain barely two weegs ago. Reference has been made in this column heretofore ,o ii, effect of this vast Increment on the fortunes of the South, the thawing of irozen credits, release of bank loans. Improved collections and increased purchasing power. For example, one of the big sugar companies is said to be highly pleased over the prospects of collecting nearly $30,000,000. which until recently had seemed almost Indefinitely tied up. Fertilizer companies next year will have a big sale for their products, not only because the South will be more prosperous, but because the need of artificial plant food indubitably has been demonstrated. LEAVES ITS EFFECT OX DRY GOODS MARKETS.

The ramifications extend still further. Dry goods markets have been stimulated tremendously. Some makes of cloth are 10 cents a pouud below their levels of a month or so ago. Yarns have risen 3 to 5 cents a pound almost over night. Manufacturers, caught with high-priced raw material on hand before the slump of last year, will welcome the rise la cotton as a stimulant tc the sale of goods and a substantial increment from an inventory standpoint. This addition of several hundred million dollars to the wealth of an important agricultural district will result In far greater benefit than several times this amount in the form of credit through governmental aid. Wall street is beginning to wake up to tne imporiauce of this development. Possibly the fact that speculation has had something to do with the advance in cotton has caused "the Street'’ to prick up its ears. At any rate, it is beginning to find out that prices can go up as well as down, and that is a step toward a bull market.— Copyright, 1921, by Public Ledger Cos.

Marriage Licenses. Joseph Yoggi. 121(5 AY. Ray st 27 Margaret Murray, 1137 N. Reisner st. 22 AVilllam Officer. 2015 Bellpfontaine st. 22 Thelma Campbell. 2:507 Columbia av.. 18 Bedford Sprowl, 721 Lord st 20 Gertrude Golding, 015 N. New Jersey 35 Richard Johnson. 2717 Highland PI. 21 Helen Hamilton, 721 Congress av 20 Otis Burnett. 1822 Fleasunt Run Fkwy. 41 Mabel Roe. ISS2 Pleasant Run Fkwy. 18 F.ugene Moore. 405 X Ketcham st 24 Thelma Killion. 554 N. King av 18 John Bone. Southport. Ind 57 Lillie Powers, 1157 Lee st 04 Earl Gouker. 1125 Parker av 20 •Thelma Ratliff. 1227 X. Gladstone st. IS Harvey Dunlap. 1145 I'dell st 30 Flossie Masner, 1302 Pershing av 2(5 Ulysses Phillips. Shelbyvllle. Ind 50 Esther Tbopy, Shelbyviile, Ind 50 Charles Barer. 1100 E. New York st.. 21 Dorothy Marshall. Shelby viile, Ind.. IS Morris Clark. 242 Menkner st 47 Mary Cline, 3101 Jackson st 33 Theodore Kegeris. 930 AY. AYashington 24 Hilary Green, 313 X. Pine st 20 AA’illiam Pouthitt, l‘>ls AA ilcox st 40 Grave Bakemeyor, 350 N. Addison st. .. Vennle Fisher, Ladoga, Ind 2S Hester Trotten. North Salem, lud 25 Paul Rike. 1442 S Harding st 20 A‘elma Ketcham. (521 Sanders st 24 John Urban, 513 Courr st 28 Helen Simko. 705 Ketcham st 23 Maurice Douglas, Osborne. Ohio 2 Donnie Duckett, 658 S. New Jersey st. 20 Dan Homer, 1531 N. Capitol av 22 Margaret Rich, 1504 E. Seventeenth st. 21 William Watt, R. R. B 27 Gladys Bridges. Bridgeport, Ind is Horace Dougherty. 146 AV. 20th st 34 Blanche Martin, 17 S. Treinont 5t.... 24 Harry Walker, 1803 AA'. Michigan st.. 37 Beatrice Wilson. 25 Alton a” 20 Clarence Jessup. 2910 N. Delaware st.. 19 Helen Elrod. 1312 N. Ewing st 20 Logan McMillin, Brazil, Ind 37 Mardella Jefferson. '331 Gladstone.... 24 Walter Quinlan, 2361 X. New Jersey st. 25 Lillie Woodruff, 38(56 Salem st 25 Clyde Sanders, AA’. Morris st 22 Lorena Gregory, 410 E. AA’ainut st 21 Louis Neild, 611 N. Delaware st 33 Lena Fultz, 618 N. Meridian st 23 CHICAGO PRODUCE. CHICAGO, Sept. 6.—Butter —Receipts, 11,530 tubs: creamery extra. 38%c; firsts In tubs, 45®45(40; prints, 46®47c: extra 83@37*c; packing stock. 23024 c. EggsReceipt*, 11.717 cases; current receipts, 27028 c; ordinary firsts, 24026 c; firsts. 29@31c; checks, 17®18c; dirties, 15@20c. Che9e—Twins (ctw), 15%019c; daisies, 18%®19c: young Americas, 19c: longhorns, 19® 20c; brick, 19®19%c. Live poultry—Turkey*, 85c; chickens, 20c; eprings, 23c; roosters. 16c; geeae, 20c;

N. Y. Stock Exchange

—Sept. 6 Prev. High. Low. Close, close. Allied Chem... 38% 37% 37% 37% Ajax Rubber.. 20% IS) 20% 18% Allis-Chalmers. 33% 33% 33% 32% Am. Agricult'al 34% 32% S3 33 Ain. Beet Sugar 39% 30 30 28% A. Bosch M. Cos. 33% 32% 33 33% Am. Car & F.. 127% 126% 126% 123% Am. Can 28 27 27% 26% Am. H. & L. p. 50 49 50 48 Am. Ice 55% 55% 55% .... Am. Inter. Cor. 32 30 30% 29 Am. Linseed... 20% 20 20 20 Am. Loco 88 87 87 87 Am. Smelt. &R. 37 34% 36% 33% Am. Sugar Ref. 63% 60% 62 61 Am. 8. Tub. Cos. 47% 45% 40% 45 Am. Steel Fdy.. 14 24 24 % 23% Am. Tej. A- Te1..1(6% 106% 106% 106% Am. Tobacco.. .125% 124 124% 123% Am. Woolen 74 72% 78% 71% Am. Zinc & Ld.. 7% 7% 7% Ana. Min. C 0... 37% 35% 36% 35 Atchison 85% 85% 85% 85 At!. Gulf & W.I. 254 24% 20% 24% Baldwin Loco.. 81% 79% 80 78% B. A 0 38% 37% 38 87 Beth. Steel (B). 52 81 51% 50 Califor. Fete... 37% 35% 37 35% Can. Pac. Ry...1i3% 112% 113 112% Cent. Leather... 28% 27% 27% 27% Chandler Mot.. 45% 44 44 44% C. & 0 54% 54% 54% 54% C.. M. A St. I’.. 26% 25% 25% 25% CM. 5: St.P.pfd. 39% 38% 88% 38% Chi. &N. W.... 65% 65 65% 64% C.. It. I. A 1*... 83% 32% 32% 32% C. R. I .& P. 6% pf and.. 65 65 65 61% C.R.1.&P.7%pfd.. 76% 70% 76% Chili Copper.... 10% 9% 10% 10 Chino Copper .22 22 22 .... Coca Cola 35 34 % 35 84% Columbia Gas 56% 55% 56% 55% Columbia G. ... 3% 1% 1% 3% Con. Gas 87% 87% 87% 83% Con. Can 44% 42 42 43% C. Oil 26% 25% 25% 24% Corn Products 70% 60% 09% 69% Crucible Steel . 50% 57% 58% 50% C. Am. Sugar . 14% 12% 14% 13 C. Cane Sugar. 9 8% 8% 7% Dome Mines .17 16% 16% 17 Endieott 61% 61 61 60% Erie Ist pfd. . IS% IS% 18% 19 F. Plavers .... 58 56% 56% 56% Fisk Rubber... 10 9% 10 9 General Asphalt 50 47% 48 46% Gen. Electric...l2s% 123% 123% 124 Gen. Motors... 10% 9% 10 9% Goodrich 32% 31% 32% 81% Gt. North, pfd. 73% 72 73 72% Gt. North. Ore. 28H 28% 28% 29 Gulf. Sts. Steel. 35% 34% 35% 33% Houston Oil 49 48 48 4S Illinois Central. 93% 95 95% 95 Inspir. Copper.. 3444 32% 33% 32% Interboro Corp. 2% 2% 2% 2% invnioible Ore. 8% 8% 8% 8 Inter. Harvester 79% 77 75% 77 Internatl. Nickel 13% 12% 13 12% Inter. Paper.... 45% 44 44 43 Ist Oil A Trans. 2% 2% 2% 2% K. C. Southern 23% 25% 24% 25% Kelly-Spg. Tire. 42 40% 40% 39% Qenet. Copper.. 19% 18% 19% 18% Laeka. Steel... 40 39 40 38% Lehigh Valley.. 51 50% 51 . ..„ Lee Tire 25% 25 25% 25% Loews, Inc 12% 12% 12% 12% Marine com .... 9% 9% 9% 9% Marine pfd 45% 45 45% 43% Lav Stores.... 79 79 70 Mex. Pete 112% 109% 109% 106 Miami Copper.. 21 20% 20% 20 Mid. S. on 12 11% 11% 11% Midvale Steel... 24% 24t*> 24% 24 Mo. Pacific 19% 19 19 18% Mo. Pac pfd... CS 37% 37% 37 Nat.E. & Stamp 34% 33% 33% 83% Nat. Lead 75% 73 75 7 4 74% N. Y. A. Br 50 50 50 N. Y. Cent 71% 71 71% 71% New Haven .... 16 15% 15% 15% Nor. A- West... 95% 95% 95% 95 No. Pacific .... 74% 73% 73% 72% Ok. P. & R. Cos. 1% 1% 1% 1% Pacific Oil 30% 35 35% 35 Pan-Am. Pet. .. 49% 48% 48% 47 Penna. Ry 38% 38% £B% 38% People's Gas ... 57 55% 55% 53u, Pierce-Arrow .. 12% 11% 12 11% I*-re Marti 19% 19% 19% 19% Plttsbg. C0a1... 58 50 58 56 Pr. Steel Car... 54% 54% 51% 53% Pull. Pal. Cnr... 96 94% 95 94 Ry. Stl. Spga 80 78% 80 80 Pure Oil 25 24% 25 21% Reading 68% 07% 67% 67% Ken. T. & S 48% 48 48% 46% Rep. Steel 25% 23% 21% 24% Rvl D. of N. Y.. 51 50 50 50 Sears Rbk 65% 66% 66% 64'. S.-Shes. S. A I. 35 35 35 35 Southern Pac. 77% 77 77 76% Southern Rv. . 20% 20% 20% 20 St. L. A9.W It 25% 24% 25 24% S. Oil N. J. ...135% 134 135% St L& S F Cos. 23% 23% 23% 23 Strom. Carb. ..31 28 31 .... Studebaker .... 75% 73% 74% 73% Tenn. Copper . 7% 7% 7% 7 Texas Cos 36% 35% 36% 35 Texas A Pacific 24% 23 24 23% Tob. Products 6M% 66% 68 66 Trans. Oil 7% 7 7% 6% T'nion Oil 18% 17% 18% 17% T'nion Pacific 120 119 119% 118% F. Retail Stores 54% 55% 54 52% U. S. F. P. For. 17% 16% 17% 16% Put. Fruit Cos.. 106% lot! I(S% 105% United Drug.... 50% 49% 50 50 t T . R. In. Alhol. 47 46% 46% 46 U. S. Rubber... 50 46% 48% 46% U. S. Steel 77% 75% 76 73% U. S. Steel pfd. 109 109 109 09% Utah Copper 49% 46% 47% 46 Canadium Steel 32 30% 31 30Vi Vir.-Car. Chem. 30% 27% 30% 27% Wab. Ist pfd... 21 20 20 20% White Oil 8% 8 8% 7% Western Union. 83% S3 83 82% West. Electric.. 44% 44 44% 43% White Motors.. 33 32% 32% 32 Willys Overland 6 6 6% 6 Worth. Pump.. 37 37 37

NEAT YORK LIBERTY BONDS. —Sept. 6 Prev. High. Low. Close. Close. L. B. 3'4s 87452 87.32 87.50 87.40 L. B. Ist 4s 87.06 87.6(1 L. B. 2nd 4s 87 80 87.70 L. B. Ist 4(4* .. 87.90 87.60 87.82 87.80 L. B. 2nd 4V4S . 87.90 87 82 87.82 87.84 L. B. 3rd 4V 4 s .. 97.96 91.84 91.88 91.92 L. B. 4th 4A4S .. 87.98 87 90 87 92 87 01 A’ictory 3%s ... 99.00 98.94 99.00 I*s 96 A’ictory lAs 99.00 98.94 90.00 99.00 CHICAGO STOCKS. (By Thomson &. McKinnon.) —Sept. 6 Open. High. Low. Close. Armour pfd 90% Cbd. and Cbn... 45% 46'4 45% 43% Libby B'4 Mout.-AA'ard .... 1774 Nat. Leather.... 7 Piggly-AYlggly . 13 13Vi 13 13'4 Sears Roebuck. . 66% 68 66% 66% Stew.-AA’ar 24 24(4 24 24% Swift ACo 9564 97 95% 97 Swift Inti. ...N 22(4 22% 22% 22%

In the Cotton Market

NEW YORK, Sept. 6.—There was a wild opening in the cotton market today following sensational strong cables from Liverpool. On the first call here quotations Jumped 104 to 105 points above Friday's close to new high levels for the present movement. All deliveries crossed the 19-cent level and there was heavy buying by the continent and by trade and commission house interests. The South sold some on the rise, but as a rule appeared to be content to sit by and watch its wealth Increase. Private advices received over the holidays said that the crop had gone backward. Business continued active and excited after the start. A’alues at the end of the first twentyminutes showed recessions of 20 to 30 points from the highest recorded at the outset. New York cotton opening: October, 18.85 c; November, 19.20 c; December, 19.50 c; January, 19.60 c; March, 19.50 e; May, 19 75c; July, 19.60 c. Heavy buying in the last hour sent all positions up to net advances of 200 points for the day. The close was strong at a net advance of 200 points. * —Cotton Futures— Open. High. Low. Close. January 19.60 20.23 19.20 20.23 March 19.80 20.45 19.35 20.45 May 19.75 20.50 19.40 20.50 Jul v 19.65 20.58 19.(52 20.58 October 18.85 19.88 18.85 19.88 December 19.35 20.20 19.25 20.20 LIA’ERPOOL, Sept. 6.—There was a good demand for spot cotton at the opening of the market here today. Prices were firm and sale.) approximated 15,000 bales. American middlings, fair, 15.03d; good middling*. 13.33d; full middlings, 12.38d; middlings. 12.13d: low middlings. 11.63d; good ordinary, 10.63d; ordinary, 9.35d. Futures opened firm. NEAT YORK HIDES. NEAT YORK. Sept. 6.—Hide prices were steady on the market here today, native steer hides selling at 13%c per pound and bonded steer hides, 13c.

LEADING STOCKS SUFFER DECLINES Studebaker Loses Over 1 Point —Market Tone Irregular. NEW YORK, Sept. 6.—The stock market closed irregular today. The market showed an irregular tone in the late dealings, most of the leading reacting from 1 to 2 points from the previous high levels. United States Steel lost all of its gain, falling to 76, and Baldwin Locomotive reacted nearly 2 points to 79%. Northern Pacific fell 1% points to 73% and Reading yielded from 68% to 67%. Many of the stocks which had been active and strong early in the day redded about 2 points, including General Asphalt, United States Rubber aud Ke’iy-Springfield. Mexican Petroleum fell Vi of a point to 109% aud Studebaker dropped over 1 point to 74%. Total sales of stocks were 755,100 shares; bonds, $11,113,000. (By Thomson A McKinnon.) —Sept. 6 At the very beginning of the market session today it was evident that traders were in a more cheerful frame of mind. There was afair response from the public through commission houses to the satisfactory news over the holiday period. The demand for stocks was general enough to give the entire market an appearance of buyoaney, and ns values moved forward in a slow and steady manner. It had the very desirable effect of making traders feel more confident than ever in the correctness of their new position. There was evidence of tanking support —an element that has been' lacking for a long period. It was possible today to dispose of stocks that have had but an Indifferent market for an considerable period, and tills leads to the thought thnt the men of affairs, the men whose influence count, have taken a position in the ranks of the optimists and this position is a matter of Importance ns well as significance that an Individual who has been the most influential market factor In recent years has published views that better times are before us. During the course of the day some profit taking sales were made and this must be expected at frequent intervals, which will give us the usual reactions in the market, but in our opinion when these recations couie. yo usbould lie prepa.'.d to accumulate stocks. CLEARING HOUSE STATEMENT. NEW YORK, Sept. 6.—Exchanges, $349,900,000; balances, $54,800,000; Federal Reserve Bank credit balauce, $03.100,006.

Money and Exchange

Indianapolis bank clearings Tuesday were $2,448,000, against $2.161.0<5) for Tuesday of the week tefore. NEW YORK. Rept. 6.—Foreign exchange opened weak today with demand Sterling %c lower at $3 71%. Francs yielded 12 centimes to 7.63<; for cables and 7.62 c for checks. Lire declined 10 points to t 35c for cables and 4 34c for checks. Belgian cables were 7.47 c; checks, 7.-16 c. Guilder cables were 31.60 c; checks, 31.58 c. Swedish kronen cables were 21.50 c; checks, 21.45 c. Marks were 1.07%. NEW IOKK CALL MONEY. NEW YORK. Kept. 6.—Money—Call money ruled 5% per cent; high. 5% per cent; low 5% per cent. Time rates were steady, all s%ftro per cent. Time mercantile paper was steady. Serling exchange was quiet, with business in bankers' bills at $3.69% for demand. MOTOR SECURITIES. (By Thomson A McKinnon ) —Sept. C——Opening— Bid. Ask. Briscoe 8% 10 Packard com 6% 6% Packard pfd 60 Peerless 28 30 Continental Motors com 5 6% Hupp com 11 Grant Motors 1% 2% National Motors 2 5 I'aigs Motors 14

ACTIVE Oil. STOCK*. (By Thomson A McKinnon) —Sept. 6 Opening - Bid Ask Anglo-American Oil 14% 14% Borne-Scrymscr 340 360 Buckeye Pipe Line 81 83 Chesebrough Mfg. Cons 130 160 Continental Oil, Colo 105 108 Cogden Oil and Gas 4% 5% Crescent Pipe Line 23 25 Elk Basin Pete 5% 6 Eureka Pipe Line 75 80 Galena-Signal Oil, pref 85 90 Galena-Signal Oil, com 33 34 Illinois Pipe Line 15" 174 Indiana Pipe Line 73 77 Merritt Oil 6% 7 Mil west Oil .' 2 Midwest Rfg 130 1(0 National Transit 23 25 New Y'ork Transit 143 150 North. I'ipe Line 85 im Ohio Oil 222 226 Penn.-Mex 18 21 Prairie Otl aud Gas 415 430 I’ralrie Pipe Line 183 Sapulpa Refg 3 4 Solar Refining 335 350 South Penn. Oil 168 175 South Penn. Pipe Lines.... 54 56 Standard Oil Cos. of 1nd.... 63 68% Standard Oil Cos. of Ky 330 399 * Standard Oil Cos. of Neb ...145 155 Standard Oil Cos. of N. Y 320 340 Standard Oil Cos. of Ohio 360 380 Swan A Finch 25 .35 Vncuum Oil 240 250 Washington Oil 20 30

X EAV lORK CURB. (By Thomson A McKinnon.) -Sept. 6 —Closing Bid. Ask. Curtis Aero, com ; 1 3 Curtis Aero, pfd in 15 First National Copper 46 60 Goldfield CYu 5 7 Havana Tobacco 1 114 Havana Tobacco j fd 4 f, ~ Central Teresa 1 114 Jumbo Extension 4 5 International Petroleum... 10% 10% Nipissing 4% 4% Standard Motors 3 4i /a Salt Creek 9% loti Tonopah Extension 174 19 16 Tonopah Mining 1% 7*4 United I*. S. new 1 3 10 yn, U. S. Light and Heat 1(4 y% U. S. Light and Heat pfd.. 1(4 1% AA'orid Film 10 12 Yukon Gold Mine Cos 70 95 Jerome IK 22 New Cornelia p> 13 United A’erde 22 23L'. Sequoyah 5 10 " Omar Oil 87 Po Rep. Tire 17 22 NEW YORK RAW SUGAR. XBAY YORK, Sept. 6 - Raw tisgar prices were steady on the market here today. Cubas were quoted at 4.61 c per pound, duty paid, while Porto Ricos were sold at the same price, delivered. NEAV YORK REFINED SUGAR. NFAA’ YORK, Sept. 6.—Refined sugar prices were steady on the market here today. Fine granulated was quoted at 5.90 c per pound. XEAV YORK COFFEE. NEW YORK, Bept. C.—(.'of fee values were steady on the market here today, opening being 2 to 3 points higher, ltio No. 7 on spot sold at 7%0 7 ,se per pound. NEAV YORK RICF.. NEW YORK, Sept. G. —Rica values were 6teady here in trade on the exchange today, domestic selling at 3(4@ 7%c per pound. NEW YORK METAL MARKET. NEW YORK, Sept. 6.—Copper—Quiet: spot to November, 11®11%C. Lead— Steady: spot to September offered, 4.60 c. Spelter—Quiet; spot to November offered, 4.25 c. NEW YORK PETROLEUM. NEW Y’ORK, Sept. 6.-—Trade in petroleum on the market heer today was firm and prices were steady. Pennsylvania crude oil again sold at $2.25 a barrel.

INDIANA DAILY TIMES, TUESDAY, SEPTEMBER 6, 1921.

New York Bonds

(By Fletcher American Cos.) FOREIGN GOVERNMENT BONDS. —Sept. C Arg. (unlisted) ss, Sept. 1, '45 64 % 65% Belgian 6s. Jan. J, '25 95% 95% Belgian 7*s, .Tune L '45 102% 102% Belgian Ss. Feb. 1. '4l 101% 101% •Belgian Rest ss, Opt., '34.... 66 70 Berne Bs, Nov. 1, '45 99% 100% Chile Bs. Feb. 1. ’4l 98 98% Chinese (Hg. Rv.) ss, June, ’sl 48% 49 Christiania Bs, Oct. 1, '45 99% 100% Copenhagen 5%5, July 1, '44.. 79% 80 Danish Mun Bs. Feb. 1, ’46....101% 102 Denmark Ss. Oct. 15, *45 102% 103 •Canadian 5%5, Dec. 1, ’22 88 89% •Canadian 5%5, Nov. 1, ’23.... 87% 88% •Canadian 5%5. Nov. 1. ’24 86% 87% •Canadian ss, Dec. 1, ’25 84% 86 Canadian ss, Apr. 1, ’26 93% 93% •Canadian 5%5, Dec. I, ’27.... 87% 89 Canadian 5%5. Aug. 1, ’29 93% 94 Canadian ss, Apr. 1, ’3l 89% 90% •Canadian ss, Oct. 1, ’3l 82% 84% •Canadian 5%5, Nov. 1. ’33 87 88% •Canadian 5%5. Nov. 1, ’Bl 84% 85% Canadian ss, Mch. 1, ’37 86% 87% •Canadian 5%5, Dec. 1, ’37... 88% 89% •French (Viet.) ss, Opt., ’31... 62% 64 •French 4s. Opt., ’43 49 51 •French (Prem.) ss. issue ’2O. 72% 74% •French sis, Opt., ’3l 73% 75 French Bs. Sept. 15, ’45 100% 101 •Italian (Treas.) ss, Apr. 1. ’25 42% 44% •Italian (War) 5s 33% 34% Jap (First) 4%5, Feb. 15, ’25.. 86V, 87 Jap (Second) 4%5. July 10, ’25 86% 87 Jap 4s, Jan. 1, ’3l 72 72% Norway Bs, Oct. 1, ’4O 103% 104 Paris 6s, Oct. 13, "21 99% 100 Russian 6%5, Tune 18. ’l9 15% 19.% Russian 5%*. Dee. 1, ’2l 15 19 •Russian 5%5, Feb. 14, ’26 4 7 Sao Paulo Bs, Jan. 1, ’36 97% 97% Swedish 6s, Juno 15. ’39 87 % 88% Swiss 5%5, Aug. 1, ’29 89 % 90% Swiss Ss. July t, ’4O 106 100% U. K. 5%5. Nov. 1. ’2l 99% 100 U. K. 5%5, Nov. 1, '22 98% 98% U. K. 5%5, Aug. 1, ’29 90 90% U. K. 5%h, Fel>. 1. ’37 RS% 89 •TT. K. (Victory) 4s. Issue ’19.176 291 •I'. K. (warlna’i) 5s Oct. 1.'22.372 ;488 •U. K. (war loan) ss, Feb.1,'29.352 3*13 Zurich Ss, Oct. 15. '45 100 100% Frazil Bs. 1941 99 99% French 7%5, '4l 76% 90% Dominican ss, '3B 91 94 Dominican ss, 'SB 79 82 •Internal loans. C'OPO RATION BONDS. —Sept. 6

Bid. Ask. Alum. Cos. Amer. 7. Nov. '23. 97% 98 Am. Cotton 011 6s, Sept. 2, '24. 90% 91% Am Tel. 6s, Oct. '22 99 90% Am. Tel. 6s. Feb. '24 98 98% Am. Thread 6s, Dec. '2B 97 97% Am. Tobae. 7s, Nov. '2l 100% 101% Am. Tobae. 7s, Nov. ’£2 100% 101% Am. Tobae. 7s, Nov. '23 10"% 101% Anaconda, 6s, Jan '29 88% 80 Anaconda 7s, Jau. ’2O 93% 94% Anglo-Am. Oil 7%5, April "25.100% 100% Armour 7s. Julv 15, '3O 98 98% At. Ref. 6%5, March ’3l 101 101% Bell Tel. Can. 7s. April ’25... 97 98% Beth. Steel 7s. July 15 ’22 99% 100% Beth. Steel 7s, July 15, ’23.... 98% 93% Can. Pac. 6s. March 2, '24. .. 97% 93% Cent. Arg. Ity. 6s. Feb. ’27... 83 84 Con. Gas Ss. Dec. "21 100% 100% Copper Exp. Bs, Feb. 15, ’22.. 100% 101% Copper Exp. Bs, Feb. 15, ’23 .100% 101 Copper Exp. Ss, Feb. 15, '24 100% 100% Copper Exp. Bs, Feb. 15, '25..101% 101% Cudahy 7s. July 15, '23 98% 99% Fed. Sugar 6s. Nov. '24 93% 96% Goodrich 7s. April '25 90 90% Gulf OH 6s. July '23 97% 97% Gulf Oil 7s. Julv '33 93 93% Hock Val. 6s. March ’24 93% 94% Humlie Oil 7s. March 15, '23. 97 97% Int. It T. 7s, Sept '2l 73% 74% K. C. Term. 6s. Nov. 15, '23. 98 93% Kcnn. Copper 7s, Feb. '30.... 92 92% Laclede Gas 7s, Jan. '29.... 90% 91% Lig & .Meyers 6s Dec. ’21.... 100 100% Phlla, Cos. 6s, Fen. '22 10)% 100% Proctor & Gamble 7s, Mch. '22.100% 101% I'rootor & Gamble 7s, Mch. '23.10"% 101 % Pub, Ser. N. J. 7s, March '22 99% 100% R. J. Reynolds 6s. Aug '22. 99% 100% Rears-Roebuck 7s, Oct. 15, '2l 99% 100% Sears-Roebuck 7s, Oct. 15, '22. 98% 98% Rears-Reel uok 7s, Oct. 15, '23. 97% 97% Sinclair 7%5. May 15, '25 91 91% Solvay & Cle Bs, Oct. '27 99 100 S Rv. 6s. March '22 98% 98% S. Bell Tel. 7s, April '23 .. 97 97% Btand.Oil (Cal.) 7s, Jan ’31.103% 103% Stand.Oil(N.Y.) 7s. Jan '25 31.102 105 Kt.P. U D 5%5. Dec. 15. '23 . 97% 97% Swift 7s, Oct. 15, ’25 97% 98 Texas Cos. 7s. March 1, "23... 99% 100% T'tah Sec. Cs, Sept. 15. '22 ... 91 91% Waltham Watch 6s, Aug. '24... 86 89 West. Elec. Ts, April '25 100% 100% Westinghouse 7s. May '3l 101% 101%

Local Stock Exchange

—Sept. 6 STOCKS. Bid. Ask Ind. Ry A Light com (50 .... Ind. Ry. A Light pfd 70 .... Indpls. A X. AY. pfd Ind pis. A S. E. pfd Indpls. St. Ry 31 41 T. 11. I. A Light pfd T. H., I A E. com 41 T. H. I. A E. pfd 15 U. T. of lud. com 1 U. T. of Ind Ist pfd 7 U. T. of Ind. 2d pfd 2 Advance-Uumely com .... Advance-Rumley pfd .... Am. Central Life 235 .... Am. Creosotlng pfd 92 ... Bit. It. R. com 52 62 Belt R. R. pfd 42'.* 50 Century Bldg. Cos. pfd 90 .... Citizens Gas Cos 20 Dodge Mfg. Cos. pfd 89% .... Home Brewing 54 .... Ind. Hotel com 60 .... Ind. Hotel pfd 93 .... Ind. Nat. Life Ins. Cos 3% .... Ind. Title Guaranty Cos 59 .... Ind. Pipe Lines 74 82 Indpls. Abattoir pfd 40 50 Indpls. Gas. 40 70 Indpls. Tel. Cos. com 2 .... Indpls. Tel Cos. pfd 90 Mer. Pub. Util, pfd 40 Natl. Motor Car Cos 2 7 Pub. Sav. Ins. Cos 4 .... Rauh Fertilizer pfd 40 Standard Oil of Indlanr .... 67 69% Sterling Fire Ins Cos 8 Van Camp Hdw. pfd 90 100 Van Camp Prod. Ist. pfd 100 A'an Camp Prod. 2d pfd 100 Yandalta Coal Cos. com 6 A'andalia Coal Cos. pfd 7% Wabash Ry. com BONDS. Broad Ripple os 50 .... Citizens St. Ry. 5s ... Ind. Coke A Gas 6s 99 Indian Creek Coal A Mine 100 Indpls. C. A South 5s 88 .... Indpls. A Martinsville 5s ... 43% .... Indpls. A Northern 5s .... 37 43 Indpls. A N. AA r . 5s 45 52 Indpls. A S. E. 5s 45 Indpls. 8. A S. E. 5a 70 Indpls. St. Ry. 4a 51 61 Indpls. T. A T. 5s 67% 75 Indpls. Cos. 5s 71 78 T. (1. I. A E. os 44 U. T. of Ind. 5s 47 55 Citizens Gas Cos. 5s 7 1 80 Kokomo, M. A AV. 5s 71 Ini'.. Hotel Cos. 2d 6s 93 .... Indpls. Light A Heat 7>s .... 73% 80 Indpls. Water 4%s 66 75 Indpls. AA’ater 5s 89% .... New- Tel. Ist. s 94 New Tel. L. D. 5s 93% .... Sou. Ind. Power 5s 99

Local Curb Market

(By Newton Todd.) —Sept. <s— Ask. American Hominy com 17 Burdick Tires and Rubber.. 1% 2% Capital Film Cos % 1% Choate Oil % 1% Colum. Fire Ins. Cos 6 7% Comet Auto 1% 2% Dayton Rubber Units 03 70 Duesenberg Motor Units ... 60 75 Duesenberg Motor com 9 Elgin Motor Cor 3% 5 U. S. Automotive Units 80 90 Fed. Fin. Cos. com 72 82 Fed. Fin. Cos., com 125 135 Gt. Sou. Prod. A Ref. units 5% 6% Haynes Motor com ns Hurst A Cos., com 1 2% Hurst A Cos., pfd 45 65 Indpls. Securities, pfd 2 5% Indiana Rural credit 65 Indiana Nat'l Bank 253 205 Majestic Tire 10% 18 Metro. 5-50 c Stores, com 12 ~ 20 Metro. 5-50 c Stores, pfd 39 35 Rub.-Tex. units 18 22 Revere Motor M. V, Stevenson Gear Units 5 7 U. S. Mfg. Cos. units 175 185 State Sav. and Trust Cos. ... 83 93 Stevens-Duryea units 52 61 Duesenberg Motor,4:ols 9

GRAINS SUSTAIN SOME LOSSES Close Sees Values Higher Than at Mart Opening. CHICAGO, Kept. 6.—Early sharp advances in wheat were not maintained, but the close found prices at gains for the dax. Corn was rather sluggish throughout, while oats displayed a better toue with wheat. Trade was broad and active eurly. but heavy realizing took the edge off the murket. September wheat was unchanged to %c higher; December 1%®1%c higher and May I%®2c advanced. September corn was %c off; December, %c lower, aud May unchanged to %c higher. September oats were %c up; December, unchanged aud May, %c higher. (By Thomson & McKinnon.) —Sept. 6 Wheat—The sharp advance in cotton and a report that the war finance corporation had about completed preparations for loaning one billion dollars to finance crops revived the memory f the close adjustment of world's supplies aud requirements in wheat. The strength was checked by an almost complete absence of export demand aud by an unexpectedly large increase in the visible supply. Foreign demand seems to be taking Munitobas, but not in a large way. The increase in the visible supply of wheat 1s accounted for by the unloading of accumulations on track at the various terminals. The milling demand here has beeu slow and cash wheat has not kept pace with the futures, but in outside markets, notably the Northwest, milling demand is keen. The cash market should reguin its previous strength, as the Southwest producer is a very slow seller and the movement of spring wheat is not expected to he heavy or prolonged. There seems to be a broader interest in the market, which leads to the beitef that all depressions will be temporary and unimportant. Coarse Grains —There is an excellent demand for cash corn from shippers, possibly against previous sales for export. Feeding on farms is expected to be on a large scale through the winter. The crop is ripening rapidly, a goodly portion already matured and the balance will possibly be within ten to fifteen days. The country is contracting the new crop for December shipment in a goodly way and hedging sales appear in the December delivery. These markets gather some strength from wheat, but it is not possible to uncover any broadening of interest or strong arguments for higher prices. Provisions—Receipts of hogs are heavy and there is no particular news in the cash trade for products, but the shortage of the cotton crop und the action of the market stimulated outside demand for lard. There was some foreign buying of October. Racking Interests arc persistent sellers of January lard.

CHICAGO GRAIN TABLE. —Sept. 6 WHEAT— Open. High. Low. Close. Kept 1.28 1 31) 1.25% 1.26% Dec 130 1.31% 1.28% 1.29% May 1.35 1.36% 1.3-1 1.34 CORN— Sept. .. 54 % .55 .53% .53% Dec 54% .55% .54 .64% Mar 59% .00 .58% .69 OATS— Sept 35% .36% .35% .85% Dec.... .38% .30% 38% .38% May 42% .43'* .42% .42% FORK - •Sept 17.60 LARD— Kept 12.02 12.02 1' 87 11.87 Oct 12.00 12.10 11 92 120" Jan 10.00 10.10 9.95 10.07 RIBS— Oct 9.20 9.25 9 10 9 10 ■Tun 8 70 8.70 8 70 8.70 •Nominal. CHICAGO CASH GRAIN. CHICAGO. Rept. 6.—Wneat N 2 red. *1 30%fit 1 31% ; No. 3 red. No. 2 hard winter, $1 30%®1.31%; No. 3 hard winter. Sli>%®l.3"; No. 1 north ern spring, $136; No 4 northern spring. $129. Corn No. 2 mixed, 55® 56c ; No. 2 white, 55%®56%; No. 2 yellow. 55%((j 56%c; No. .3 mixed, 55(u55%e; No. 3 white, 55c: No. 3 yellow. 55%M0.3%e \. 4 mixed, 54®54%c; No. 4 yellow. 51 %0 55c. oats No. .2 white. 38 Vl.l Hh ; .So. •> w hite, 35®36c; No. 4 white, 31%®33%c.

PRIMARY MARKETS. (By Thomson & McKinnon) —Sept. 0— Wheat Corn Oats Chicago . . 174. "00 842,"">i 255.""" •Minneapolis 3,176,000 66,000 460.000 Duluth 294.000 4.000 10.(881 Ks Louis 486.000 91.000 lfl2.0"0 ••Toledo 21.000 15.00" 12,000 Detroit 180)0 16.00) 21.""" ••Kansas City 136,000 31.000 51.000 ••leoriu .... 22.05) 104.""0 iki.OK) ••Omaha . . 21NOOO WUOOt 86.001 Indianapolis.. 3.000 28,000 22.000 Totals 4,772,000 1,191.000 1.115.000 Year ago. 3,124.000 947.00" 2,290.000 —Shipments— Wheat Corn Outs Chicago 668.000 2.103,(88) 71,000 •Minneapolis. 260.155) B.lss) 9",(ssl Duluth 356,000 101,000 St. Louis .... 141.000 24,000 49.000 ••Toledo 3.000 6,000 ••Kansas City 458.185) 70.t$$> 12,t$$> ••Peoria 13,000 53.000 99.000 ••Omaha ... 206,000 45.000 74.(85) Indianapolis.. 5,000 15,000 24,000 Totals 2 17.(88) 2,327,(85) 526,(881 Year ago .. 1,030,000 187.0$) 574,0'5) —Clearnuci-s Domestic W. Corn Oals New York .. 192.0(8) 20.18$) Philadelphia. 14,(88) tUaleston ...4,018.000 Totals ... 4.224.(88) 28,000 Y'ear ago.. 1,743,(88) •Three days. ••Two davs t ill last week.

INDIANAPOLIS CA3H GRAIN. —Sept. 6 Bids for far lots of grain and hay at the call of the Indianapolis Board of Trade were : AA’beat —Strong; No. 2 red, $13001.35. Corn —Steady : No. 2 white. 56®66%0 ; No. 3 white, 55056 c; No. 2 yellow, 57® 07%c; No. 3 yellow, 56057 c; No. 2 mixed, 55%<g'5Gc; No. .3 mixed, 55@55%c. Oats —Steady; No. 3 white, 36®38%c; No. 4 white. 33034 c. Hay—Weak; No. 1 timothy, SIBOIB 50: No. 2 timothy, $17.50018; No. 1 light clover mixed, $17017.50; No. 1 clover mixed, $l7OlB. —lnspections—■ Wheat—No. 2 red, 3 cars: No. 3 red, 3 cars; No. 4 red, 3 cars; No. 2 mixed, 1 cur, No. 3 mixed, 1 car; sample, 3 cars; total, 14 cars. Corn —No. 1 white, 8 cars; No. 2 white, 21 cars; No. 3 white, 4 cars; No. 5 white, 3 cars; No. 6 white, 1 car; No. 1 yellow, 21 cars; No. 2 yellow, 19 curs; No. 3 yellow, 2 cars; No. 5 yellow, 22 cars; No. 1 mixed, 1 car: No. 2 mixed, 3 curs; ear, 8 cars; total, 86 cars. Oats No. 2 white, 4 cltrs; No. 3 white. 17 cars; No. 4 white. 18 cars: sample white. 5 cars; No. 2 mixed, l car; No. 3 mixed, 1 car: total, 46 cars. Rye—No. 2, 1 car: No. 3, 1 car; No. 4, 1 car; sample, 1 car; total. 4 cars Hay—Standard timothy, 1 car; No. 2 timothy, 1 car; total, 2 cars.

HAY MARKET. The following are the Indianapolis prices for hay by the wagou load, de livered. Hay—Loose timothy, old, $19021; mixed hay. new, $17018; baled hay, old, $18020; new. $17019. Oats—Bushel, new, 30®35c. Corn—New, 60®62c per bushel WAGON AVHEAT PRICES. Indianapolis flour mills and elevators today are paying $1.15 for No. 1 red winter wheat; $1.13 for No. 2 red winter v’heat and according to test for No. 8. Oits are quoted at 30c for No. 3 white or better. INDIANAPOLIS PRODUCE. Butter —Local dealers are paying 390 40c per lb for butter delivered in Indianapolis. Eggs -Loss off. 28030 c. Butter-Pack-ing stock, 17018 c. Poultry—Fowls, 380 22c; springers, 20024 c; cocks, 10012 c; old hen turkeys. 2.'c. old torn turkeys, 20® 25c: cull thin turkeys_ not wanted: ducks, 4 lbs and up, 15016 c; spring ducks, 3 lbs. and up, Ms; geese, 10 lbs and up, 9@loc; squabs, 11 lbs to the dozen, $5. Butterfat—Local dealers are paying 37c per pound for butterfat delivered in Indianapolis.

HOG VALUES 50 CENTS LOWER Trade in Cattle Again Dull— Calves Are Strong. RANGE OF UOG PRICES. Good Good Good Aug. Mixed. Heavy. Light. 29, $9.75 @10.04 $9.10 $10.00010.10 80. 9.75 @IO.OO 9.0U0 9.50 10.00 81. 9.25 8.50@ 8.75 9.50 Sept. 1. 8.75 8.00 <® 8.25 9.00 2. 9,25 8.25@ 8.50 9.50 3. 9.50 8.50® 8.75 9.75 6. 9.00 8.25® 8.50 9.25 With 12,000 hogs on the market and little demand shown by either local packers or shippers With Eastern house connections, swine prices were 50 cents lower in trade on the local live stock exchange today. Most of the early sales were made on the weight schedule of the week before. Hogs wighing 160 to 225 pounds brought $9.25; 225 to 250 pounds $9 and 250 pounds up to 300. $8.25®8.50. Pigs brought S.B aud down, with the demand slow, w'hile roughs sold at $6.75 and down, with the bulk of the choice of that grade selling at $6.50. The bulk of the sales for the day ranged at $8.75(§9.25. Cattle receipts were fairly heavy and trade was dull. Both packers and other buyers seemed indisposed to buy cattle at steady prices and values were generally weak to 25 cents lower In spots. There were few good cattle on the market and that grade would have steady to strong prices had they been on the market. Fresh receipts of cattle ran close to 800, with around 100 stale cattle In the pens left over from trade of the markets of the previous week. Little hope was held by cattlemen of an improvements in the market soon. General industrial depression, a flooding of the markets with western tattle and hot weather causing a lull in the beef trade have nil been factors that have caused lower cattle values . There were close to 600 calves on the market and with a good demand shown by the principal buyers prices were 50 ceuts higher. A top of sl3 was paid for choice veals, while the bulk of that grade brought [email protected]. Other grades were higher in proportion. Sheep and lamb values wero steady. Receipts approximated 400.

HOGS. Best light hogs. 100 to 200 lbs. average $ 9-25 Over 3CO ibs B.oo® 8 25 200 to 300 1b5.... 8.25® 9.00 Sows 6.50® 6.7 u Stags 4 00(ft 5.00 Best pigs under 140 lbs B.oo® 5.50 Top 9.25 Bulk of sales 8.75® 9.25 CATTLE. Prime cornfed steers, 1,300 to 1,800 lbs S.oo® 9.00 Good to choice steers, 1,200 to 1,300 lbs 7.00® 7.75 Good to choice steers, 1,10" to 1,200 lbs 6.50® 7.00 Good to choice steers, 1,000 to 1,100 lbs o.oo@ 6.50 Common to medium steers 800 to 1,000 lbs 5.50® 6.00 —Heifers and Cows— Good to choice heifers 7.75@ 8.00 Medium heifers 6 00® 7.00 Common to good heifers . . 5.00® 6.00 Good to choice rows 3 75® 500 lair to medium cows 2.00® .3.00 Cutters 1 75® 2.75 Cuuners 75® 2.00 —Bulls Good to choice butcher bulls 4 75® 5.50 Bologna bulls 4.00® 4.50 Light bologna bulls .3 25® 4.00 Light to common bulls .... 3.00® 325 Calves— Choice veals 11.50®12.50 Good veals 10.00® 11.00 Medium veals 8 00® 9.50 Lightweight veals .. 5.50® 6.50 . Stockers aud FeedersGood to choice steers, under 800 lbs 5.00® 6.00 Medium cows -♦ •• • 2.00® 3(H) Good cows 3.00® 4.00 Good heifers 5.50® 7.00 Medium to good heifers...... 4.00®, 5.U0 8111.4.1' AND LAMBS. Ewes 2 00® 3.50 Bucks 1.50® 2.50 Choice ewe and wether lambs 6.50® 7.50 Seconds 6.00® 7.00 Buck lambs 6 (to® 6.50 Cull lambs 2.00® 4.50

Other Livestock

CHICAGO, Sept. 6.—Hogs—Receipts, 33,000; market, fairly active and 10®25c lower; bulk ,$7.1509.35; tup, $9 50; heavyweight, SBO9 10; medium weight, $8.8509.40; light weight, $8.9009.40; light lights, $8.6009.35; heavy packing sows, smooth, $6.9007.75; parking sows, lough, $6(1507; pigs, SBO9. Cattle —Receipts, 20,000; market, slow and steady-: beef steers, choice and prime, s9.(>ti<ii. 10.50; medium and good, $6.50® 9.50; good and choice, $8.25010 65; common and medium. $508.25; butcher cuttle, heifers, $4.2508.75; cows, $3.6507.15; bulls, $3.25 tu.6 50; tanners and cutters, cows and heifers, $2.5003.65; calmer steers, $2,750 3.50; veal calves, light and handy weight. $11013.75; feeder steers. $5 2507.50; stocker steers. $406.75 : Stocker cows and holfcrs, s3®s. Slop Receipts. 33.000; market, steady to 25c up: lambs, 84 lbs tlwou. s7®9: culls and common. $4.2507; yearling wethers, $4.7507; ewes. $2,500 4.50; ewes, culls und common, $1.5002.50. EAST ST. LOUIS, Sept. 6 Hogs— Receipts, 8,000; tnurket steady to 118- higher; mixed und butchers, $909.60; good heavies, $90,9.50; roughs. $607; lights. $9.40 0 9 70; pigs, $809.40; bulk of sales. $9.38 09.60. Cattle—Receipts, 8.000; market slow und lower; native beef steers, $708: yearling steers und heifers. 5809.50; cows, $405 25; stockers and feeders, $4.25 05; culves, $608; runners and cutters. 02®3. Sheep and lambs Receipts, 3,000; market steady; mutton ewes, s3®4; lambs, $7.5008; cauners and choppers, $1 02. EAST BUFFALO, Sept. 6—Hogs—Receipts, 100 cars; market, active; yorkers, $9.85010; pigs, $9.2509.50; mixed, $9.65 09.85: lieavlcs, $9.65: roughs. $0.5007; stags, s4®s. Cattle- Receipts. 175; market, slow; shipping sters, $9.50010.25; butcher grades, $7.7509.50; heifers, $3.50 08; cows, $4.0006; bulls, $3.5000: feed ers, $4.75@6; milk cows and springers, $400130. Calves—Receipts, 100; market, active; cull to choice, $5013. Sheep and liunbs —Receipts. 600; market, active: rhoice lambs, $9.75010; cull to fair. s7® 8.75; yenrllugs, $607; sheep, $105.50. CINCINNATI, Sept. 6.—llogs—Receipts, 6,000; market slow, steady to 23c lower; heavies, sß®9; mixed, mediums and lights, $9.20; nigs, $7.75; roughs, $6.25 06.50; stags, $5.50. Cattle —Receipts, 3,300; market dull and 23c to 50c lower: bulls weak; calvos, $12012.50. Sheep and lambs—Receipts, 1,600; market strong and 50c to 73c higher; ewes, $103.50; bucks, $202.50; choice lambs, $9.50; seconds, $6; culls, $304. PITTSBURGH, Sept. 6.—Hog—Receipts, 6,000; market 10c to 25c higher; prime heavy hogs, $909.10; mediums, $9.5009.75; heavy yorkers, $9.5009.75; light yorkers, $909.25; pigs, $8.5009; roughs. $406; stags, $406; heavy mixed, $9.2509.40. Cattle—Receipts, 1,500; market active; choice cattle, $8.7509.25; prime, $8.5000; good, $808.50; tidy butchers, $808.50; fair, $708; common, $6.5007.50; common to good fat bulls, $2.5003.50; common to good fat cows, $•105.50; heifers, $5®5.50; fresh cows ami springers, $30085; calves, $7.50013. Sheep and lambs —-Receipts, 1,000: market steady; prime wethers, $505.23; good mixed. $4.5005; fair mixed, [email protected] and commons, sl®2; lambs, $9.50 down.

CLEVELAND PRODUCE. CI.EA’ELAND, Sept. 6.—Butter —Extrjt, tubs, 45@45%c; prints, 4fl@47c; extra firsts, 44®44%e: firsts, 46@40%e; seconds, 34036 c; packing stock. 19@20e. Eggs—Fresh gathered northern extras, 40o; extra firsts, 39c; Ohio firsts, new caseß, 35c; old cases, 34c; AA’estern firsts, new cases, 33c. Poultry’—Live .fowls, benvy, 26027 c; light fowls, 20021 c; roosters, 15c : broilers, 20023 c ; live spring ducks, 20@24c. Potatoes —Jersey, $4 a sack. TOLEDO SEED PRICES. TOLEDO, Sept. 6.—-Cloverseed—Cash, October. December and March, $10.60; February, $11.75. Alsike—Cash, $10.45: October, $10.00; December, $10.03; March, SIO.BO. Timothy—l92o, cash. $2.45: 1921, cash, September and October, $2.60; December and January, $2.65; February, $2.70; March. $2.75. 4

Weather

The following table shows the state of the weather at 7 a. m., Sept. 6. as observed by United States Weather Bureaus : Station. Bar. Temp. Weather. Indianapolis, litd... 30.00 58 Rain Atlanta, Ga 29.96 74 Clear Amarillo, Texas.. 30.02 62 Cloudy Bismarck. N. D... 30.00 48 Clegy Boston. Mass 29.92 68 Cloudy Chicago, 111 30.04 66 Clear Cincinnati, Ohio .. 29.96 68 Cloudy Cleveland, Ohio .. 29.98 68 Clear Denver, Colo 30.08 50 Clear Dodge Citv. Kan. 30.06 56 Clear Helena, Mont 30.64 44 PtCldv Jacksonville, Fla.. 30.00 76 Clear Kansas City. M 0... 30 06 66 Clear Louisville, Ky 29 98 70 Cloudy Little Rock, Ark. 29.98 70 Clear Los Angeles, Cal... 29.56 60 Clear Mobile. Ala 30.02 76 PtCldy New Orleans. La... 30.00 80 PtCldy New York. N. Y... 29 92 70 Cloudy Norfolk. Vn 29.92 78 PtCldy Oklahoma City .. 30.00 68 PtCldy Omaha, Neb 30.02 60 (Tear • Philadelphia. Pa... 29.02 70 Cloudy Pittsburgh. Pa. ..29 94 68 Rain Portland. Ore .30,10 54 Clear Rapid City, S. D... 30.16 48 Clear lioseburg. Ore. ... 30.12 48 Clear San Antonio, Texas 29 94 74 Clear San Francisco, Cal. 29.92 56 Clear St. Louie, Mo 30.00 68 PtCldy Rt. Paul. Minn .30.02 68 Cloudy Tampa, Fla 30.02 84 Clear Washington. D. C. 29.90 76 Cloudy WEATHER CONDITIONS. Since Saturday morning ruins have been general over the Missouri, upper and middle Mississippi and Ohio valleys. They have been heavy nt points In Indiana and over the middle Mississippi Valley; totals of oxer five inches for the past three days were reported at places on the West Fork of the White. Temperatures arc below normal over the Rocky Mountain and l’lateu regions, with frosts in Wyoming. WHITE RIVER CONDITIONS. Additional rain Monday night over West Cork of White will cause ahont 19-foot stage at EHiston Wednesday. Tuesday morning river stages: Elliston, 15.2. falling, rainfall 1.60 inches; Indianapolis, 5-6, falling, rainfall 1.19 Inches; Greencastle, rainfall 1.20 inches: Terre Haute, 9.5, falling, rainfall 1.88 inches. J. H. ARMING TON, Meteorologist, Weather Bureau.

PIG CLUB SHOW ATTRACTS MANY Crowd of Many Hundreds Watch Judging Among Youthful Contestants. The Rig club show, staffed by 142 youthful members of pig clubs throughout the States, was one of the big features of the opening day of the State Fair and a crowd of about 1,000 watched the judging. The following awards were made: Du roc- Dale Elsea. Frankfort, first; George Roth. Hall, second; Harold Shannon. Carmel, third; Gerald Todd. Tipton, fourth; Stanley Stevens, Liberty, fifth; Ralph Whitman, Sullivan, sixth; Glenn Bond. Liberty, seventh; Kertnlt Plummer, Roanoke, eighth; John K. Dulin, Whitestown, ninth; Paul Wood, Hartford City, tenth; Paul Siess, Tipton, eleventh; Barnett Jewell. Furtnersburg. twelfth, Howard Hunt, t'armel, thirteenth: Fred Arnold, Danville, fourteenth; Hugh McCormick. Wilkinson, fifteenth; Lowell Short. Greensburg, sixteenth: Byron Nixon. Mum-ie, seventeenth: Owen I.indley, Goldsmith, eighteenth; Morris Ashton, Anderson, nineteenth; Lawrence Crawford. Milton, twentieth. Poland Chinas Ruth Williams. Bryant, first: Russell Campbell. Trafalgar, second; Morris Somers. Pendleton, third; Ivy Maxwell. Morgantowu. fourth: Russel Sehenek, Wayuetown, fifth: Brindle Shaw, Zionsvliie, sixth; Everett Fisherbuck. Gas City, seventh; Clarence Rogers, Pendleton, eighth: tSamey Donley, Greenfield, ninth: Raymond Gaither, Anderson. tenth: 11. (’. King. Sweetser. eleventh: Clovce Hunt. Bryant, twelfth; Frank Meeks. Shelb.vville, thirteenth; Tony Offenbucker. Oaklandon, fourteenth; Howard Maxwell. Morgontown, fifteenth; Frank Hoy, Greensburg, sixteenth. Chester Whites Donald Tomson. Wabash, first; Frances Barton, Bluffton, second : Helen Thompson. Wabash, third ; Alga Frost, Greenfield, fourth; Horace Hurst. St. Paul, fifth; Verda Wissler, Milton sixth; Linvllle Wissler. Milton, seventh; Thomas Eldridffe, Keudallvlile, eighth; Anna Wissler. Milton. ninth; Mildred l’ugsley, Anderson, tenth; La Vern Frost Greenfield, eleventh; Robert Fink Mount Comfort, twelfth; Galen Kassen, Greenfield, thirteenth: Alma Me Corkle, Indianapolis. Rural Route A. fourteenth: John Button, ludianupolls, Rural Route A. fifteenth. Berkshlres—Frank Ester. Greenwood, first: Leonard Parker. Arcadia, second; Margaret Barker. Thorntown, third; i.lndlev McCollum. Monrovia, fourth; Kavmotul Brown, Franklin, fifth: Eunice Parker, Arcadia, sixth: Mildred Barker, Thorntown. seventh; Robert McCloud, Ciavton. eighth; Allen Beasley, Thorn town ninth: Edwin Lagrange. Franklin; tenth ; t 'llfford Sheets. Franklin. eleventh ; Sheldon Cox. Thorntown. twelfth. Hampshires--Robert ogle. Sheridan, first: Robert Walker. Sheridan, second; Florence Ogle. Sheridan, third; Kenneth Williams. Math'ews. fourth; _Ro.v Post, Battle Ground, fifth: Floyd Kolb. Battle Ground, sixth: Robert Brown. Sheridan, seventh- Robert Wright. Upland, eighth; Brice Futrell. Hartford City, ninth; Frederick Gossett. Falrmount. tenth. Spotted Polaud Chinas -Harold Miller. Fulton, first; Ruth M. Williams: Bryant, second; Rave C. White. Greenfield, third; Clifford Anderson. Mooresville. fourth; Clovce Hunt, Bryant, fifth; Leora Kennedy. Llzton, sixth; Gilbert Goodnight. Keriipton. seventh: Marie Strahl. Greenfield. eighth; George Miller, Greensburg, ninth; Dale Strahl, Greenfield, tenth. FLOUR AND MEAL. E-Z Bake Bakers’ Flour in 93 lb. cotton bags $7.75 Corn Meal In 100 Ib. cotton bags... 1.75

Money to Loan nn Mortgages STATE LIFE IHSLIRANCE CO. AND LIBERTY BONDS NEWTON SELL 415 LEMCKE BLD3. TODD

INDIANA STATE FAIR The Union Traction Company of Indiana offers special low excursion fares to Indianapolis on account of this event. Tickets on sale for all trains, regular and special, Sept. sth to 10th, inclusive, return limit Sept. 12t 1. Ask agent for small time card. Don’t miss a visit to Broad Ripple Park while in Indianapolis. Union Traction Company of Indiana

NEITHER MONEY NOR GOMPERS TO SET LABOR WAGE Prices on Both Labor and Capital Governed by Supply and Demand. WAGES MUST GO LOWER Special to Indiana Dally Times and Philadelphia Public Ledger. By C. B. EVANS. CHICAGO, Sept. 6.—The reduction In working forces and wages in the West is perhaps as pronounced as in the East except in those industries, such as building in Chicago, in which illicit agreements between employers and employed exists, and the worker accepts smaller compensation with good grace generally for he has been wiser in the main than the man expecting to make a million dollars who has failed because he stayed in the game too long. Seemingly it is only a few labor leaders who deny the necessity for reduction in wages. Others fatuously declare there is no such necessity and undertake to hold up wages by talking too much. What the levels of wages and price* should be, or shall be, is not for Mr. Gompers or Mr. Morgan to say, but is in the course of nature, Including the mental processes of many hundred million persons. The little pimple of $27,500,000 a day lost in wages to the workers of this country, as set forth by Mr. Gompers, is serious enough to the few who suffer from it, but is only one prick of fate among the multitude that mankind is suffering at the present time. The little lotion of Mr. Gomper's oratory is not even a palliative. The thing must run its course. No design of man or multitude can change it, but the comI bined activities of mankind, responsive |to self-interest, will achieve. Complaint. grievance, remedy dictated by theory ; antagonism of classes, obstruct. Mr. | Gompers, Mr. Morgan equally, must bow ; Mr. Conant, Mr. Sieberling, have bowed [ with a vengeance; the stock market has ! bumped it forehead on the marble floor of the exchange. The bowing and bump- ! ing are not over. Nor Is it In the power of a labor leader or a flnaneie- > put wages or prices up of down. That Is effected by the attrition of competing interests. An employer raises wages when he needs more men and a shortage compels higher figures, and he reduces wages when the supply is excessive. He acts from selfish motives, as does the worker when he demands more pay. These motives and actions are modified to some extent on both sides by considerations of good will, but in the main they are the controlling forces.

The same principle of demand and supply applies to the rate of Interest. There is just as much selfishness la the making of the rental on capital as In other business operations, but the men of whom Mr. Morgan is a type are as incapable of creating an 8 per cent market when conditions call for 4 per cent as Mr. Gompers is of inflating wages with his oratory. The statement of Mr. Gompers that wages were reduced before prices were reduced is incorrect. The average wholesale price of 100 articles went off 40 per cent before tbeae was any reduction in wages except some small cutting here and there. The cost of living: has declined somewhat, but there appears still to be a xvide discrepancy between wholesale and retail prices. Retail merchants say this is due in part to the still unreduced cost of the jabor they employ. This in many cases is more plea than fact. A retailer disposed to be extortionate has a greater leverage than a wholesaler, for he Is selling goods to persons in the main not good judges of their quality aid value. The cost of living certainly has not declined proportionately to the decline in the wholesale prices, but that is partly because of the small decline in wages. We may or may not reach the price levels prevailing before the xvar. We certainly cannot do so without further reduction in wages. The claim that reductions would further curtail our domestic purchasing power, and more factories would close because the people had not the money to buy their products. is specious on the face of it, but one might reply that reduction of wages to a certain level would bring back most of the men now unemployed because the manufacturers could then afford to make goods and at the lower prices there would be plenty of buyers. Wages must take their part in the grand readjustment. —Copyright, 1921, by Public Ledf- Cos.

Negro Girl Attacks Youthful Assailant BARNSTABLE. Mass.. Sept. 6.—While testifyiug against Joseph Andrews, IT one of three negroes whom she charge? attacked her. Miss Gertrude Butler suddenly rushed from the witness stand today and struck Andrews, crying, “I will kill him." Court attendants escorted the hysterical girl from the room. Because of his youth the case against Andrews was not heard with the other two negroes no wheld in $15,000 bonds each.