Indianapolis Times, Volume 34, Number 108, Indianapolis, Marion County, 15 September 1921 — Page 10

10

PROFIT TAKING GENERAL NEAR MARKERS CLOSE Majority of Issues in Rise, but Some Recession Is in Evidence. GAIN IN USE OF COTTON Special to Indiana Dally Time* and Philadelphia Public Ledger. By MONITOR. NEW YORK, Sept. IS.—Uncertainty and Irregularity characterized price movements in Wednesday's stock market, and while the majority of Issues showed comfortable net gains, the close represented a substantial recession from the peak of the day. Activity was quite prononnced in the forenoon and in fact the firat hour showed transactions In excess of 300,000 shares. The speculative favorites that have Leen prominent recently led the rise, among these being Baldwin, Mexican Petroleum, Studebaker, United Fruit and International Paper. The shorts were given some severe punishment in the United Drug, which regis tered a net gain of more than 4 points on heavy trad.ns. Certain issues responded to the improvement in the financial position of the agricultural community. Chief among these were International Harvester, which should profit greatly by the increased buying power of the farmer. Another is Sears-Roebuck, which, according to reports, already has begun to feel the impulse of a changed situation. Profit-taking was general in the last hour, and this process made itself apparent In the recession ill the rails. One notable feature of the day was the absence of special pressure due to the approach of the tax payment dated today. Constructive significance may be attached to the census report on consumption of cotton in the United States for August, which showed 467.000 bales consumed, against 410.000 in July. The amount used last year in August was 483.000. Cotton consumption is now proceeding at the rate of about 5.600.000 bates a year, against a total consumption for the season ending with July. 1921. of 4.887.000 bales.—Copyright, 1921, by Public I.edger Company.

WALL STREET GOSSIP. By MONITOR. An official of one of the leading steel companies in commenting on the improvement in the steel trade which has been reported by various news agencies, said there has been some improvement for the simp le reason that a reduction jf less than 25 per cent in operating capacity meant the closing down of mills. He expressed the opinion there would be no real volume in the steel business until next spring. The Iron Age in discussing the steel situation says there has been some increase in orders for wire products for restocking as well as a slight increase In the demand for tinplate and sheet. The great bulk of an average year's tonnage of steel produ-ts consists of structural material and steel men point out that building activities which utilize steel usually do not become acute until long after a period of business depression has passed. The great increase in plant capacity in this country during the war is one of the reasons given by steel men for the expected Lack of large tonnages in building steel for some months. There was no direct news to account for such market movements as occurred Wednesday. Declaration of some dividends were favorable developments while the decline in the foreign exchange was the chief unfavorable development of the day. With marks at anew low record, attention was directed again to tbe financial condition in which Germany finds herself. Sears-Roebuck reported vales for this month to date as approximately 20 per cent below those of lat September, but showing a marked increase over the transactions of recent months, (ifflc.als. it Is said, expect this gain In volume to continue throughout the remainder of the year. A favorable development in the railroad list was the announcement of the settlement by the Chicago. Burlington 4 Quincy of Its claims against the Government during the period of Federal operation which total $6,000,000 The payment will be made in cash. Reading, ■which has been the speculative leader of this group for several days, made anew high for the present movement, but was unable to retain its full gain. Offeial announcement was made that the Orpheum Circuit Company has ar ranged with its hankers for the sale of $1,500,000 of 7% per cent five-year notes. It is understood this IcDie will be offered to the public at 98 and interest to net 8 per cent. Prairie Oil and Gas Company declared the quarterly dividend of 3 per cent with an extra disbursement of 2 per cent The announcement of this action brought some buying Inro the oil stocks, but the movement of Mexican Petroleum is a larger influence than any dividend declaration. Reports from the copper trade are so confusing it is difficult to get an accurate line on the metal market. Certain of the large operators insist they will accept no orders below lilVi cents. Other f'roducera are making sales at 12'* and nstanoes have been reported of small lots going under 12 cents. The Kenne eott Copper Cos., in announcing ita production figures for August, showed On increase-, from 4.902.180 In July to 6.178.740 pounds. In August last year the company produced 11,288,000 pounds. Many traders operated on the expectation that heavy selling would come Into the market to supply funds for income tax purposes today. Ease in the money market has resulted in many cor porationa and individuals being able to borrow the needed fund*.—Copyright. 1921, by Public I.edger Company.

In the Cotton Market

NEW YORK. Sept. 15.—Additional re actionary sentiment was noted at the opening "of the cotton market today, and. under fairly heavy liquidation, selling by the South and foreign interests, lirst prices showed losses of from 37 to *7 points. The cables were weak and weather reports more favorable. Advices from the South as to the crop condition and the spot market continued bullish, however, and a demand from the trade and from some of the commission houses promoted a rally of 10 points. New \ ork cotton opening: October. 19.40 c; December. 19.60 c; January, 19.47 c; March. 18.28.-: May. 19.18 c; July, 18.82 c; August, [email protected]. LIVERPOOL.. Sept. 15—Spot cotton was in good demand in trade in the market here today. Prices were easier and sales approximately 12,000 bales. American m ddlings, 13.99d: fair good middlings. 14.29d; full middlings, 13.89(1; middlings. 13.24(1; low middlings, 12.34d; good ordinary, 11.29d: ordinary, 10.54d. Cotton futures opened barely steady. WHOLESALE FEED PRICES. Ton Cwt. Acme bran $21.50 sl.lO Acme feed 21.50 1.10 Acme midds 24.50 1.25 Acme dairy feed , 42.00 2.15 E-Z-Dalrv feed 31.75 1. Acme H. & M 3150 1.05 C. C. A B. chop 24.25 1.25 Acme stock feed 24.25 1.25 Acme farm feed 27.25 1.40 Cracked corn 29.50 1.50 Acme chick feed 35.75 2.00 Acme scratch 35.75 1.83 E-Z-scratch 32.50 1.65 Acme dry mash 40.75 2.10 Acme hog feed 38.75 2.00 Ground barley 37.75 1.95 Ground oats 30.00 1.55 Homllek 27.25 1.40 Rolled barley 87.75 1.95 Alfalfa mol 32.25 1.65 Cottonseed meal 33.00 2.70 Acme chick mash 44.00 2.25 Tankage 60 00 8 10 Meat scraps 75.00 4.00 FLOCK AND MEAL. E-Z Bake bakera' flour in 9S lb. cotton bags, $8.15 net. | Corn meal in 100-lb. cotton bags, $1.75 net.^

N. T. Stock Exchange

—Sept. 14— Prev. High. Low. Close, close. Allied Chemical 41 4040% 39% Ajax Rubber... 28 19% 22 19 Allis Chalmers.. 34% 33% 34% 33% Am. Agricul 36% 36 36 35% Am. Beet Sugar 80% 28% 29% 29 Am. B. Mag. Cos. 33% 33 33% Am. Car & Fdy.131% 130 130% 130% Am. Cotton Oil. 20% 20 20 20 Am. HAL pfd. 53% 53 63% 53% Am. Can 28% 28 28 28 Am. In. Corp 34 31% 32% 31% Am. Linseed.... 22 20% 22 20 Am. Loco 92% 91% 92% 91% Am. Sm. & Ref. 37% 37 37 37 Am. Sugar Ref. 63% 61% 63% 62% Am. 8. Tob. Cos. 44 42% 42% 43 Am. Steel Fdy.. 25% 24% 25 25 Am. Tel. 4 TeU.107% 107% 107% 107% Am. Tobacco. . .126% 12tt% 126% 126% Am. Woolen— 78% 77 77 77% Am. Zinc 4 Ld. 8% 8% 8% 8% Ana. Min. C 0... 38% 38% 38% 38% Atchison 86% 85% 86 86 Atl. Gulf & W.I. 30% 28% 29 27% Baldwin Loco .. 91% 88% 89% 89 B. & 0 40 38% 39 39% Beth. Steel (B). 57% 56% 57% 56 Califor. Pete.... 39 38 % 38% 38% Can. I'ac. Ky..-114 113% 113% 113% Cent. Leather... 30 29 % 29% 29% Chandler Mot.. . 48% 47% 47% 48 C. & 0 57% 56% 56% 56% C. M. 4 St. P.. 27 26% 26% 26% e.M 4 St.P.pfd. 40% 40% 40% 40% Chi. & N W. .. 67% 6. % 67% 66 0.. R. I. 4 P... 35 34 34% 34% 0.K.1.4P.6%pfd.. 66 66 66 C.R.I J &P.7%pfd.. 77 77 77 Chili Copper.... 11% 11 11% 11 Chino Copper.. 24% 24% 24% 24% Cocoa Cola .... 36 3.5% 35% 35% C. Fuel & T. .. 25 25 25 25% Columbia Gas . 57% 56% 56% 56% Columbia Graph 3% 4% 4% 5% Consolidate G. . 88% 87% 87% 88 C. Oil 27% 26% 26% 26% Corn Prod. ... 75 74% 74% 74% Crucible Steel . 65% 63% 63% 63% C. Am. Sugar . 14% 13 14% 13% C. C. Sugar .. S% 8% 8% .8% D. & Hudson . .101% 101% 101% .... Fndicott 60% 65% 65% 63% Erie 14 13% 13% 14 Erie Ist pfd. . 20% 20 20 20% Famous P 60 58 50 58 Fisk Rub. Cos.. 10% 10% 10% 10 Gen. Asphalt.... 54% 51% 51% 53 Gen. Cigars".... r*9% 59% 59% 60% Gen. Electric.... 127% 126% 126% 126% Gen. Motors.... HD* 1 0 10 10 Goodrich 34 32 32 32% Gt. North, pfd.. 78 77% 77% 77% Gt. North. Ore.. 29 28% 28% 28% Gulf State Steel 42% 89% 42 38% Houston 0i1.... 55 53% 54 53 Illinois Cent 95% 95% 95% Inspiration Cop. 34 34 34 34 Interboro Corp. 2% 2% 2% 2% Invincible 0H... 9% 9 9 9% Int. Harvester.. 82 80 Sl% 79% Int. Nickel ... 13% 13% 13% 13% Inter. Paper.... 63% 51 52 49% Isl. Oil &. Trans. 2% 2% 2% 2% K. C. South.... 27% 26% 26% 26% Kelly-Spring. .. 44% 43% 43% 43 Kennecott Cop.. 20% 20 20% 20 Laekwana Steel. 43 42% 42% 42% Lehigh Valley.. 53% 63% 53% 53% Lee Tire 27% 26% 27% 25% Loews. Inc 14 14 14 13% L. & N 109% 109% 109% Marine com 11 10% 10%

Marine pfd 47% 46% 46% 45 Maryland 0i1... 18% 38 18% 16% Mont-Ward ... 20% 19% 19% 19 Mexican Pete... 119% 116% 116% 117% Mid. Sts. 0i1... 12% 12 12% 12 Midvale Steel... 26% 26 25 % 25 Mo. Pacific 20% 20% 20% 20% Mo. Pac. pfd... 41% 39% 39% 40 Nat. En. & Stp. 37% 37 37% 36% National Lead.. 76% 76% 76% 76% Nev. Con. Cop.. 11% 11% 11% 11 N. Y. Air Brake 58 58 58 58 N. Y. Central . 73 72% 72% 73 New Haven .. 15% 15% 15% 15% North. Pac 79% Ok. P. & R. Cos. 2 2 2 2 Pac. Oil 36% 36% 36% 36% Pan-Amer. Pet. 54% 52% 52% 51% Penna. Uy 38% 38% 3a% 38% P.ople's Gas... 55 52% 52% 54% Pterce-Arrow . 13% 12% 13% 13 Pere Marquette 20% 20% 20% 19% Pittsburgh Coal 59 58 % 58% 57% Pressed S. Car <lO% 59% 59% 59% Pullman Pal. C. 93% 93% 93% 93% Ry S. Spring*. 87 85 87 84 Pure Oil 25% 25 25 21% Reading 78 71% 71% 72% Rep. I. ft Steel 54% 52% 53% 53% Replogle Steel 25% 25 25% Roy. D. of N. Y. 51% 49% 50% 49 Sears-Roebuck. 71% 69 70% 69 Sinclair 21 20% 20% 20% Sluss-Shefld & I 39% 38% 39% 88 Sou. Pan. 79% 77% 77% 78% Sou. Ky 21% 20% 21 21% ST L&S WRy 25% 25% 25% 25% Standard Oil Nj 139% 139% 139% 139% STL&SF com. .. 24% 24% 24% 24% Stromberg Carb 33% 33% 83% 33 Studebaker .... 78% 77 77 77% Tenn. Copper... S% 8% St, B', Texas Cos 37% 36% ,36% 37% Tex. & Pac 24% 24% 24% 24% Tobacco Prod.. 71 % 704(7 70% 72 Transcont. Oil.. 8% 8% 8% 8% Union Oil 18% 18% 18% 18% Union Pac 121% 120% 120% 121 Unit. R. Stores. 57 56 56 56 U. S. Food Corp. 17% 16% 17 17% United Fruit Cos. 111% 108*. Hi 109 United Drug ... 56 50% 54% 50 U. S. Indl Alee. 46% 46% 47% 491% U. 8. Rubber... 50% 49% 50% 49% U. S. Steel 79% 78% 78% 78% U S. Steel pfd..109% 109% 109% 109% Utah Copper.... 51 50 50 % 50% Vanadium Steel. 84% 3.8% 33% 3.8% Vlr.-Car. Chem. 30 29 % 3< 29 Wabash 7% 7% 7% Wabash Ist pfd. 21% 21% 21% 21 White Oil 9 8% 8% 8% West Electric.. 44% 44% 44% ' 4.8% White Motors ... 34 33% .84 33% W Overland .... 6% 6% 6% 6 Wilson &Cos 35% 35% 85% Worth. Pump... 41 41 41 40% W. Maryland... 10 10 10 10 W. Pacific 24 28 % 23% 23% NEW YORK LIBERTY BONDS. —Sept. 14— Prev. High. Low Close, close Liberty 3% 87.40 87 30 87.40 87.36 Liberty lit 4s 87.90 Liberty 2d <1 88 06 Liberty Ist 4%5. 87.20 87.10 88 18 88.04 Liberty 2d 4%5.. 88.38 88.16 88.20 88.12 Liberty 3d 4%5. 92 50 92.16 92.42 92.18 Liberty 4th 4%s 88.48 88 30 88.44 88.20 Victory 3%s 99.08 99 04 99 06 99 04 Victory 4%s 99 08 99.02 99.04 9904

CHICAGO STOCKS. (By Thomson A McKinnon.) - Sept. 14 — Open. High. Low. Close Armour pfd 83 Carbide A Carbon. 44% 45% 4414 44% Libby 7*5 8 7% 8 Mont.-Nard 10% 20 19% 19% National Leather.. 6% 6% 6*4 % Ptgglt-WTigly .... 15 .... ...* •Reo Motors 18% Sears-Roebuck .... 70 71 63*4 71 Stewart-Warner . . 26 26% 25% 26% Swift ACo 96 90 95% 95% Swift International 23% •Ex-dividend 25c. NEW YORK METAL MARKET. NEW YORK, Sept. 15.—Copper— Quiet; spot to November, ll@ll%o. Lead--Quiet spot to October, [email protected]. SpelterQuiet; spot, [email protected]; October and November, [email protected]. NEW YORK HIDES. NEW YORK. Sept. 15.—Hide prices wore firm on the market here today, native steer hides again selling at 13%c per pound and brauded steer hides at 13c.

Local Curb Market

(By Newton Todd.) —Sept. 15— Bid. Ask. American Homony com n Brazil Sterling 4% 37% 38% Burdick Tire and Rubber... 1% 2% Capital Film Cos % i% Choate Oil Corp l i% Columbian Fire ins. Cos 6 7% Comet Auto i% 2% Dayton Rubber Units 61 70 Duesenberg Motor Units .... 60 70 Duesenberg Motor com 9 15% Elgin Motor Car 3% 3% Federal Fin. Cos., pfd 72 82 Fed. Fin. Cos. com 125 f35 Gt. Sou. Prod. A Ref. Units. 5% 7 Haynes Motor com 118 Hurst A Cos., pfd 45 C3 Hurst A Cos., com 1 2% Indiana National Bank 265 265 Indiana Rural Credits 47 65 Indianapolis Securities pfd.. 1% 3% Majestic Tire 11% 18 Metro. 5-50 c Stores com 12 16% Metro. 5-50 e Stores pfd 30 35 Revere Motors % % Hub-Tex Units 17 22 State Savings and Trust Cos. 88 93 St.evens-Duryea Unit* 54 65 Steyenson Gear Units 4 6 D. Units 86 95 U. sAltg. Cos.. Units 160 172

STOCKS SUSTAIN WEAK CLOSES Entire List Touches Lowest Prices for Day. NEW YORK. Sept. 15.—The stock market closed weak today. Heavy selling appeared Just before the close and practically the entire list fell to the lowest levels of the day. The losses ranged from 1 to over I points. Steel common yielde dto 77%, but recovered to 77% at the close. Baldwin Locomotive after selling above 91. dropped to 88%. Mexican Petroleum yielded 2 points to 115. Studebaker fell nearly 2 points to The rails also reacted. Reading falling over 1 point to 70% and Great Northern preferred 1% points to 76. (By Thomson & McKinnon.) --Sept. 15 The market was less active today with nothing particularly interesting in the day's fluctuations. While there were some periods of strength, the tendency generally was reactionary. because we again had some profit taking sales as well as some selling by those opposed to the advance. The latter class of selling is welcome and will help to maintain a sound technical situation In the market. There Is a still noticeable lack of confidence on the part of the public and, though regrettable, is perfectly natural In view of the fact that many prominent commission houses have offered no encouragement. This, of course, will not interfere with the gradual improvement that we are going to get and which is Inevitable. Reports of improvement are coming from too many sections and from too many industries to be ignored. We cannot. however, expect continuous activity and advances in the stock market. We will have many reactionary' days and many days when the outlook may seem doubtful, but it is always at the inception of the movement. We have only entered the road of p'ogress and there is a long road to travel, and what is needed most now is confidence in the ultimate result. We continue of the opinion that ad vantage should be taken of all these reactionary' periods and buy leading stocks to which we have referred in previous letters. CLEARING HOUSE STATEMENT. NEW YORK. Sept. 15.—Federal Re serve Bank credit balance, $65,000,000; ex changes, $642,200,000; balances, $78,<500,000. TWENTY STOCKS AVERAGE. NEW YORK. Sept 15.—Twenty in dustrlal stocks Wednesday averaged 71.68, off .04 per cent. Twenty active rails averaged 73 92, off .38 per cent.

Money and Exchange

Indianapolis bank clearings Thursday were $2,023,000. against $2,714,000 for Thursday a week ago NEW YORK. Sept. 15. The foreign exchange market was steady at the opening today, the leading evfianges starting at around yesterday's closing Demand Sterling was off %c at $3.68%. Francs were slightly higher, cables being quoted at 6.93%c. and checks at 6.92%c. Marks were unchanged at .0001%. Lire cables were 4 23c; checks. 4.22 c. Belgian cables were 6.85 c; checks, 6 84c Guilder cables were 31.30 c; chocks. 31.28 c. Sweden kronen cables were 21.60 c; checks. 21.55 c. Pesetas cables were 13.05 c; checks. 13.03 c. NEW YORK CALL MONEY. NEW YORK. Sept. 15.—Money—Call money yesterday ruled 5 per cent; high 5 per cent; low, 5 per cent. Time rates all 5%<§6 per cent. Mercantile paper steady. Sterling exchange was weak, with business in bankers bills at $3.60% for demand. .MOTOR SECURITIES. (By Thomson it McKinuon ) —Sept. 15— - Opening— Bid. Ask. Briscoe 11 13 Peerless 40% 41% Continental Motors com 6% Hupp com l'% 11% Reo Motor Car 18 18% Grant Motors 1% 2% National Motor* 2 5 ACTIVE OIL STOCKS. (By Thomson & McKinnon.) —Sept. 15Bid. Ask Atlantic Refining 12 13 Borne-Scrymser 345 360 Buckeye Pipe I.ine 80 82 Chesebrougn Mfg Cons 145 155 Continental Oil. Colorado 108 111 Coaden Oil and Gas 5 6 Crescent Pipe Line 24 26 Cumberland Pipe Line 115 120 Elk Basin Pete * 5% 5% Eureka Pipe Line 73 76 Galena .Signal Oil. pref 83 86 Ga'enn Signal oil, com 34 36 Illinois Pine i.ine 150 153 Indiana Pipe Line 73 76 Midwest Oil 2 2% Midwest Rfg. .. 137 145 National Transit 24 25 New York Transit 145 150 Northern Pipe Line 85 88 Ohio Oil 227 2SO Penn -Mex 18 20 Prairie 011 and (ins 455 445 Prairie Pipe Line 182 185 Sapulpa Rfg 33% Solar Refining 340 SfiO Southern Pipe Line 72 75 South Penn Oil 168 178 Southwest Penn Pip# Lines.. 53 55 Standard Oil Cos. of ind 71% 71% Standard Oil Cos. of Kan 530 550 Standard OH Cos. of Neb 145 150 Standard Oil Cos. of N. Y 320 323 Standard Oil Cos. of Ohio 860 370 Swan & Finch 30 35 Vacuum Oil .240 245 Washington Oil 23 28

NEW YORK Ct/RR. (By Thomson A McKinnon.) —Sent. 14— —Closing— Bid. Ask, Curtis Aero com 1 3 Cnrtls Aero pfd 15 Imp. Oil 8 9 First National Copper 50 60 Goldfield Con 5 7 Havana Tobacco 1 1% Havana Tobacco pfd 4 6 Martin Perry 1 1% Jumbo Extension 3 5 International Petroleum.... 10% 10% Nipissiug 1% 4% Standard Motors g r> Salt Creek 10 iO% Tonopah Extension 17-16 19 18 Tonopah Mining ] % J% United P. S. new 1 5 16 1% C. S. Light and Heat 1% 1% U. 8. Light and Heat pfd... J% 1% Jerome 19 20 New Cornelia . „ 13% 14% United Verde 23% 24% Sequoyah 5 -f Omar Oik* 90 93 Acme Pkg 1% i%

NEW YORK RAW SUGAR. NEW YORK, Sept. 15.—Trade in raw sugars was dull on the market here today and prices were again steady to weak. Cuba* sold at 4.81 c per pound, duty paid, which was steady, while Porto Ricos were quoted at 4.25 c per pouml, delivered. NEW YORK REFINED SUGAR. NEW YORK, Sept. 15. — Refined sugar values were steady In trade on the mar ket here today, fine granulated selling at [email protected] per pound. NEW YORK COFFEE. NEW YORK, Sept. 10.—Trade in eof fee was fair and prices were steady In t'ade on the exchange here today. Opening options were 1 to 4 points lower. Rio No. 7 on spot sold at 7%c per pound. NEW YORK WOOL. NEW YORK, Sept. 15,-Trade in wool was dull on the market here and prices of the past week were maintained. NEW YORK PETROLEUM. NEW YORK, Sept. 15. —Petroleum prices were again steady in trade on the market here today. NEW YORK TURPENTINE. NEW YORK, Sept. 15.—Turpentine sold at 70c per gallon on the market here today.

INDIANA DAILY TIMES, THURSDAY, SEPTEMBER 15,1921.

New York Bonds

FOREIGN GOVERNMENT BONDS. (By Fletcher-American Cos.) —Sept. 15. — Bid Ask Arg. (Unlisted) 5s Sept. 1. '45 64% 65% Belgian 6s Jan. 1, '25 05% 95% Belgian 7%g June 1, 45 103 103% Belgian 8s Feb. 1. %1 101% 102 •Belgian Hegt 5* Opt., '34 64 67 Berne 8s Nov. 1, '45 101 101% Chile 8s Feb. 1, '4l 98% 98% Chinese Ry. 5s June, ’sl 48% 49 Christiania 8s Oct. 1, ’45 101 101% Copenhagen 5%s July l, ’44. . 81 81% Danish Man 8s Feb. 1, ’46.... 102 102% Denmark 8s Oct. 15, ’45 103 103% •Canadian 5%s Dec. 1, ’22... 89% 89% •Canadian 5%s Nov. 1, ’23.. 80% 88% •Canadian 5%s Nov. 1, ’24.. 85 % 86% •Canadian 5s Dec. 1, ’2o 84% 85% Canadian 5s Apr. 1, ’26 94 94% •Canadian 5%s Dec. 1, ’27.... 87% 88% Canadian 5%* Aug. 1, ’29.... 94 % 95 Conndlan 5s Apr. 1, ’3l 90 90% •Canadian 5s Oct. 1, ’3l 82% 83% •Canadian 6V 3 s Nov. 1, ’33 86% 88 •Canadian 6%g Nov. 1. ’34 84 85% Canadian 5s Mch. 1, ’37 86% 87% •Canadian 5%s Dec. 1. '37.... 87% 80% •French (Vic!.) 5s Opt. ’31... 56 56 •French 4s Opt., ’43 46 46% •French (Prem.) 5s Issue ’20.. 66 67 •French 6s Opt., ’3l 67 69 French 8s Sept. 15, '45 100 100% •Italian (Treas.) 5a Apr. t, ’25 41% 43 •Italian (War! 5s 32 33% Jap (First) 4%s Feb. 15, ’25.. 88% 86% Jap (Sec.) 4%s July 10, ’25.. 86% 86% Jap 4s Jan. 1, ’3l 71 71% Norway 8s Oet. 1. ,’4O 105 105% Paris 6s Oct. 13, *2l 99% 100 Russian 6%s June 18. ’l9 15 17% Russian 5%s Dec. 1, ’2l 14% 17 •Russian 5%s Fe’o. 14. ’26 4 6 Sao Pauio 8s Jan. 1, ’3O 97% 98% Swedish 6s .Tune 15, ’39 89 % 90 Swiss 5%s Aug. 1, ’29 89% 90 Swiss 8s July 1, ‘4O 107 107% V. K. 5%s N'ov. 1, ’2l 99% 09% U. K. 5%s Nov. 1, ’22 98% 08% V. K. 5%s Aug. 1, ’29 90 90% U. K. 5%s Feb. 1, ’B7 88% 80% •U. K. (Victor?) 4s Issue ’l9. 275 289 •I’. K. (W Loan) 5s Oct. 1, ’22 360 384 •U. K. (W. L) 5s Feb. 1. ’29 360 373 Zurich 8s Oct. 15, ’45 101% 101% Brazil 8s 99% 100% French 7%s 96 96% Dominion 5%s ’3B vu 94 Dominion 5*,’58 79 82

CORPORATION BONDS. —Sept. 10Bid. Ask Alum Cos. of Am. 7s. Nov.. ’25. 97 % 98% Am. Cot. Oil 6s. Sept. 2, ’24. 99 90% Am. Tel. 6s, Oct., ’22 99% 99% Am. Tel. 6s. Feb., '24 98 98% Am. Thread 6s Dec., ’2B 97 97% Am. Tob. 7s, Nov., ’22 100% 101% 7s, Nov., ’23 100% 101% Anaconda 6s, Jan., ‘29 89 % 89% Anaconda 7s. Jan., ’29 94% 95% Anglo-Am Oil 7%5, April. ’25.100 101% Armour 7s, July 15, ’BO 98% 99 Atlantic Ref 6%5, March, ’31.102 102% Beil Tel. of Can. 7s, April. '25. 98 99 Beth. Steel 7s. July 15, ’22. .. 99% 100% Beth. Steel 7s, July 15, ’23.... 98% 99 Can. Pacific Os, March, ’24... 97% 98% Cent. Arg. Ry Bs, Feb., ’27... 84 85 0.. It. I. & P os, Fob.. ’22... 69% 99% Con. Gas Bs, Dec., ’2l 100% 100% Copper Exp Bs, Feb. 15, ‘22..100% 101 Copper Exp. Bs, Feb. 15, ’23..100% 101 Copper Exp. Bs, Feb. 15, ’24.100% 101% Copper Exp. Bs. Feb. 15, ’25.101% 101% Cudahy 7s, July 15, ’23 99% 100 Fed. Sugar 65., Nov., ’24 95% 96% Goodrich 7s, April. ’25 90"* 91 Gulf Oil oa, July, ’23 97% as Gulf Oil 7s, Feb.. ’33 99 % 99% Hocking Val. 6s, March. ’24 ... 94% 91% Humble Oil 7s, Mch 15, ’23. 97 % 98 Int. R. T. 7s, Sept., '2l 75% 76% K. C. Term. 6s, Nov. 15, ’23. 98% 08% Kenn. Copper 7s, Feb.. ’3O 93 93% Laclede Gas 7s. Jan.. "29 ... 90% 01% Llg. & Myers 6s. Dec., ’2l 100 100% Phlla. Cos, 6a. Feb., ’22 100% 100% Proctor & G. 7s, March, ’22... 100% 100% Proctor A G. 7s March. ’23. .101 101% Pub. Ber N. J. 7s, March. ’22. 96 % 96% R. J. Reynolds 6s, August. ’22. 99% 100% Sears Roebuck 7s, Oct. 15, ’2l. 99% 100% Sears Roebuck 7s. Oct, 16. ’22. 98% 99 Sear* Roebuck 7, Oct. 15. ’23. 97% 98 Sinclair 7%5, May 15, "25.. . 91 91% Solvay A Cie Bs, October, ’27.. 99% 100% Southern Ry. 6s. March. ’22... 78% 78% .8 W. Bell Tel. 7s, April. "25... 97 07% Stand. Oil (Cal.) 7s. Jan . ’31.103% 104% Stand.Oil< N.Y.)7s,Jan.. ’25 31.102 105 St. P. U. D. 5%5. Dec. 15. ’23. 97% 98 Swift 7s, Oct. 15, ’25 98 % 99 Texas Cos. 7s. March 1, ’23 99% 100% Utah Bee. 6s. Sept 15. ’22.... 02% 92% Waltham Watch 6s. Aug., ’24. 86 89 Weat. Elec. 7s. April, ’25 101% 102% Westinghouse 7s, May. ’Bl 101% 102%

Local Stock Exchange

—Sept. 15— STOCKS. Bid. Aik. Ind Ry. A Light com 60 Ind. Ry. A Light pfd 70 ... Indpls A S E. pfd.: Indpls S E. pfd Indpls. St. Ry 84 41 T. H. T A L. pfd T. H . 1. A E com 5 T. H.,1 t I. pfd 13 IT. T. of Ind. com 1 U. T. of Ind Ist pfd f IT. T. of Ind 2d pfd 2 Advance Rumel.v com 12% ... Advance Rumely pfd 36 .... Am. Central Life... Am Ureoeoting pfd 90% 100 Belt R R. com 52% 02 Belt R R. pfd 42% 49 Century Bldg. Cos. pfd 90 ... Citizens Gas Cos 20 25 Dodge Mfg Cos. pfd Home Brewing 62 Ind Hotel com 55 ... Ind. Hotel pfd 93 Ind. Nat. Lire Ins. Cos 3% ... Jnd. Title Guaranty Cos 89 Ind. Pip# Lines 72 Indpls. Abattoir pfd 40 50 In'lpls. Gas 40 50 Indpls. Tel. Cos. com Inpdls. Tel Cos. pfd ... Mr. Pub Util, pfd 40 Nat'l Motor Car Cos 2% 7 Pub. Sav. Ins. Cos i Rauh Fertilizer pfd 40 Standard OH of Indiana ... 70 Sterling Fire Ins. Cos 8 Van Camp Hdw. pfd 00 100 Van Camp Prod. Ist pfd 100 Van Camp Prod. 2d pfd 100 Vandalia Coal Cos. com 6 Vandalia Coal Cos. pfd 7% Wabash Ry. com 6 Wabash By. pfd 20 ... BONDS. Broad Ripple 5s 50 Citizens St. Ry. 6s 64% ... Ind Coke A Gas 6* 95 Indian Creek Coal A Mine 100 Indpls. C. A South 5s 88 Indpls. A Martinsville 6s ... 45 Indplfi. A Northern 5s 38% 44% Indjls. A N. W. 5s 47% ... Indpls. A S. E. 55..... 45 Indpls. S. A S. E. 5s 70 Indpls. St. Ky. 4s ~. 69 Indpls. T. A T. ts 67 73 Indpls Gas Cos. 5s 71 77 T H., I A E. Is 44 IT. T. of Ind. 5s 47 64 Citizens Gas Cos. 5s 73 79 Indpls. Gas 5s 71 77 Kokomo, M. A W. 5s 74 Ind. Hotel Cos. 2d 6s 93 indpls. Light A Heat ss. ... 73% 76 Indpls. Water 4%s 66 75 Indpls Water 5s 87 92 Mob. H A L. 5a 85% 84 New Tel. Ist 6s 94 ... New Tel. L. D. ss. 93% ... Sou. Ind. Power 5s 94%

LIBERTY BONDS. Liberty first 3%s 87.10 Liberty First 4% 88.06 .... Liberty Second 4%s 88.08 88.34 Liberty Third 4%s 92.18 .... Liberty Fourth *%s 88.24 88.36 Victory B%s 98.90 Victory 4%s 98.92 .... INDIANAPOLIS PRODUCE. Butter —Local dealers are paying 39® 40c per lb. for butter delivered In Indianapolis. Eggs—Loss off, 29@310. Butter—Packing stock, 17@18c. Poultry—Fowls. 18® 20c; springers, 20@23c; cocks. 10@12c; old hen turkeys, 2hc, old tom turkeys, 20® 25c; cull thin turkeys uot wanted; ducks, 4 lbs and up, 13@16c; spring ducks, 3 lbs. and up, 16c; geese, 10 Ibu and up, 9@loc; aquabs, 11 lbs to tjie dozen, $5. Uutterfat —Local dealers are paying 37c per pound for butterfat delivered in Indianapolis. CLEVELAND PRODUCE. CLEVELAND. Sept. 15—Butter—Extra in tubs, 47@47%c; prints, 48@48%c; extra firsts, 46@46%c: firsts, 45@46%: seconds, 30@36%c; packing stocks. 21® E3e. Eggs—Fresh gathered northern extras. 40c; extra firsts, 39c: Ohio firsts, new cases, 35c; old cases, 34c; western firsts, new cases. S3e. Poultry, live heavy fowls. 27c; light fowls, 20@21c; roosters. 16c; broilers, 23®24c; live ducks, 20®25c.

GRAIN PRICES SUFFER LOSSES More Rain in Argentina Chief Market Factor. CHICAGO, Sept. 15.—Grain prices went lower on the Chicago Board of Trade today on an irregular and choppy market. The setback given grain prices in the closing hour of the session was due to reports of more rain in Argentina and to lack of demand for grain for export business. The break in the foreign exchange market also was a contributing factor. Provisions were irregular. , September wheat opened at $1.27%, off %c, and closed off l%c. December wheat opened off %c at $1.30% and closed l%c lower. May wheat opened at $1.34%, off %e, and closed off l%e. September corn opened off %c tit 54%c and closed off %c. December corn opened off %c at 54%c and closed off %c. May corn opened at 50%c, off %c, and closed off %c September oats opened off %c at 37c and closed off %c. December oats opened at 39%c, off Vic, and closed off %c. May opened off Vic at 44c and closed %c lower.

"(By Thomson A McKinnon.) —Sept. 11) Wheat—Stagnation in export circles has dominated the wheat market. Actlou has been erratic for the reason that the idea of ultimate scarcity still preialis in the minds of many. Foreign exchange is unsettled and irregular, but all adv.ces carry the idea that new sales abroad are likely to be unimportant. Further than this the pending movement of the Canadian crop is again entering into the situation. Cash prices in Winnipeg are easy and the new demand slow. Shipments _ are widely scattered and small. The Canadiau government increases the estimate of the crop by 7,000,000 bushels greater than last month and 31,000.000 more than last year. Domestic millers remain in the Northwestern terminal markets and the Southwestern interior markets, accepting what little is offered at good premiums. It is claimed, and it is possibly true, that we have sold for shipment abroad about all of our surplus that we can conveniently spare. At the same time this idea has been so widely promulgated that the market refuses good response. In other words, we have reached the point where material dem castration of the exhausted surplus is necessary if prices are to be advanced. The almost complete withdrawal of foreign demand for United States wheat and the coming movement of the Canadian crop lead us to believe some further recession In prices Is to be expected. Coarse Grains—Report of a desire to resell by the foreigner* have had considerable to do with the liquidation it* both corn and oats. The crop of corn is rapidly maturing, being earlier than usual. lowa claiming that 93 per cent will be safe from damage by frost by the last of (he month. The foreign demand has bet'n the one sustaining fnctor In corn and If it is to be withdrawn as now indicated, values of both corn and oats should drag with wheat. Provisions- Although the hog market has been firm, receipts are distinctly heavy, which Influenced products. There has t>een an absence of important sup Hort In either tne nearby or deferred deverles.

CHICAGO GRAIN TABLE. Sept. 15--WHEAT— Open. High. Low. Close. Sept 1.28 1.28% 1.26 1.20% Dec 130% 1,31% 128% 1.28% May 134% 1.36 1.3.1 1.33% CORN - Sept 54% .54 % .52% .55% Dec 51% .54% .63% .54 ■* May 59% .59% .56% .58% OATS Sept .50% .37 .56% .36% Dec 39% .39% .39 .39% May 44 .44% .43% .43% PORK i •Sent...’ 17.75 LARD Sept 10.62 10.62 10.112 10.62 Oct 10.70 10.75 10.60 10 7 Jan 9 50 0.57 9 45 9 50 RIBS - Bept ... 045 9.50 9.45 945 Out 702 7.62 7.60 7.60 Jan. ... 800 8.10 800 8.05 •Nominal. _ CHICAGO CASH GRAIN. CHICAGO, Sept. 15 Wheat No S ltd. $1.26%®1.29%; No. 3 red. $128%; No. 2 hard winter, $1.20%® 128; No. 3 hnrd winter, (1.2401.26% ; No. 2 mixed, $127; No. g mixed, $1.2501.27%. Corn No 2 mixed. 544®55t ; No 2 white. 64%®55c; No. 2 yellow, 55®55%5; No. 3 tu.xed, 54%e; No. 4 white, 54c; No 4 vellow. 54c. Oats So 2 white, 85%®30%e; No 4 white, 54®55%c. TOLEDO GRAIN PRICES. TOLEDO, Sept. 15.—West Cash, $1 30; December $1 36; May. $1.44 Corn Cash. 57®T>8r. (tats—Cash, 40®41c. Rye, $1.04, Barley. 85c. PRIMARY MARKET. (By Thomson A McKinnon.) Bept. 14— RECEirTB- - Wheal. Corn. OutN Chicago 241.000 1,238.000 435.000 Milwaukee ... 86,000 143.000 38,000 Minuet* poll* . 673.000 31,000 VS,(Vo Duluth 563,000 34,000 83.00.1 St. Louis ~ 174,000 04,000 67.0(0 Toledo 81.000 15,000 10,00.) Detroit ..... 4.000 5.U00 6,000 Kansas City . (UO.OUO 11,000 34.000 Peoria 10,000 56.009 60.000 Omaha 163,000 52.000 54.000 Indlonnpolla . 6,000 22,000 16,0%) Total* 2,369,000 1.690.000 811.000 Year ago ~ 1,785,000 707,000 1,313,<%X) SHIPMENTS— Wheat. Corn Oata. Chicago 81,000 291.000 437.000 Milwaukee ... 85.0(a) 580,0()0 12.000 Minneapolis . 257,000 28,000 103.000 Duluth 711.000 St. Louis .. 257 ,<X)O 29,000 141,000 Toledo 1.000 4.00) Kansas'City . 815.000 8,000 2.009 Peoria 8,000 24,000 36,000 Omaha 194,000 25,000 30.0(A) India uap'dla . 3,000 11,000 40.000 Total* 1,862,000 990,000 800,000 Year ago .1,480,009 295.000 650.0(A) —CLEAR ANCES— I>omeßtic Wheat. Philadelphia . 149,009 Baltimore ... 112,0<>0 New Orlean* . 932,000 Galveston ... 41,000 ...... Total* t,234.090 Year ago .1,106,000

INDIANAPOLIS CASH GRAIN. —Sept. 15— Bids for car lots of grain and hay at the call of the Indianapolis Board of Trade were: Wheat—Easy ; No. 2 red, $1.35® 187. Corn—Easier; No. 2 white, 55%@50e; No. 3 white, 54%®55c; No. 2 yellow. 55 @55%c; No. 3 yellow, 54@55c; No. 2 mixed, 54%@55%c; No. 3 mixed, 53%@ 54c. Oat*--Easier' No 3 white, 36%@37%c; No. 4 white, 26@K6e. Hay—Slow; No. 1 timothy, $17.50@18; No. 2 timothy. [email protected]; No. 1 light clover mixed, $i0.50@17; No. 1 clover, $18.50 @17.50. —lnspections ; Wheat —No. 2 red, 1 car; No. 4 red, 2 cars; sample, 4 cars; total, 7 cars. Corn —No. I white, 1 ear; No. 2 white, 5 cars: No. 4 white, 1 car; No. 1 8 cars; No. 2 yellow, 10 cars; No. 3 yellow. 1 car; No. 2 mixed. 2 cars; No. 4 mixed. 1 car; No.( 5 mixed, 1 car; total, 30 cars. Oats—No. 3 white, 15 cars; No. 4 white, 7 cars; total. 22 cars. Hay—No. 1 timothy, 1 car: No. 2 timothy, 1 car; No. 1 light clover mixed, 1 car; total, 3 cars. WAGON WHEAT PRICES. Indianapolis flour mills and elevators today are paying $1.23 for No. I red winter wheat; $1.83 for No. 2 red winter wheat and according to teat for No. 3 Oats are quoted at 80c for No. 3 white or better. HAY MARKET. The following are the Indianapolis prices for bay by the wagon load delivered. Hay—Loose timothy, old, $19@21: mixed bay, new, sl7@lß, baled hay, old, $18@20; new. $17@19. Gals—Bushel, new. 30@35c. Corn —New, 60®62c per bushel,

SWINE PRICES HOLD FIRM Sheep and Lambs Are Steady —Cattle Receipts Light. RANGE OF HOG PRICES. Good Good flood Sept. Mixed. Heavy. Light. 8. J 8.75 18.00® 8.35 $9.00 9. 9.00 8.25® 8.75 9.25 10. 9.00 8.50® 8.75 9.25 12. 8.75 8.25® 8.50 9.00® 9.10 13. 8.25 7 76® 8.00 8.50 14. 8.15® 8.25 7.75® 8.00 8.40® 8.50 15. 8.15® 8.25 7.50® 8.00 8.40® 8.50 Swine pricea ruled firm in trade on the local livestock exchange today, with receipts close to 8,000 and a good active demand displayed by both shippers with outside connections and local packers. The shippers were the first buyers and the market prices were established by them. Local packers followed the movement of the shippers and bought at the prices that they had established. Light swine sold at $8 [email protected], mixed and medium* at [email protected] and heavies generally at SB. Roughs sold at $5.50® 6.25 and pig* at $8 and down.’ The bulk of Bales ranged 4t $8.40® 8.50. Receipts of cattle were very light at 350 and trade was fairly active. Prices were Bteady, considering the grade of cattle offered for sale. ■With 700 calves on the market and a fair demand, prices were generally steady. The top of sl4 of the market of the previous day was maintained. There were close to 1.100 sheep and lambs on the market, and, with a fair demand, prices were steady. Choice lambs sold at sß®9, with the bulk of that grade at SB. HOGS.

Best light hogs. 100 to 200 lbs. average S.4o® 8.50 Over 300 lbs 7.50® 8.00 200 to 300 ibs B.oo® 8.40 Sows 5.50® 6.00 Stag* 4.00® 0.00 Best pigs under 140 oh* 6.00® 8.50 Top 8.30 Bulk of sales 8.40® 8.50 CATTLE. Prime cornfed steers, 1,300 to 1.800 lbs 7.50® 8.50 Good to choice steers, 1,200 to 1,800 lbs 7.00® 7.50 Good to choice steers, 1,100 to 1.200 lbs 6.50® 7.00 Good to choice steers, 1,000 to 1,100 lbs 6.00® 6.50 Common to medium steers 800 to 1,000 lbs 6.50® 6.00 —Heifers and Cow* — Good to choice heifer* 7.75® 800 Medium heifer* 600® 7.00 Common to good heifer* .... 5.00® 6.00 Good to choice cows 3.75® 5.00 Fair to medium cow* 2.UO® 3.00 Cotters 1.73® 2.75 fanner* 75® 2.00 —Bulls — Good to choice butcher bulls 4 75® 5.50 Bolognß bulla .' 4.00® 4.50 Light bologna bulls 3.25® 4.00 Light to common bulls .... 3.00® 3.25 Calve— Choice veals 12.00® 14 00 Good veals 1.00®1200 Medium veals 9.00® 10.00 Lightweight veals 6.00® 7 00 Common heavyweight veals.. 5.00® 6.00 —Stockers and Feeders — Good to choice steers, under 800 lbs : 6.00® 6 00 Medium cows 2.00® 3.00 Good cows 3.00® 4.00 Good heifers 5.50® 7.00 Medium to good heifers...... 4.00® 5.00 SHEEP AND LAMBS Ewes 2 09® 3.50 Bucks 1 50® 2.60 Choice ewes and wether lambs B.oo® 9.00 Seconds 6 50® 7.50 Bifrk lambs 6.00® 700 CuU lambs 2.00® 4.50

Other Livestock

CHICAGO, Sept. 15.—Hogs Receipts, 21,000; market better grades, steady to 10c up; others mostly 25c to 30c up; bulk. so6O®B..Vi; top, $8.00; heavyweigut. s‘'®B.3s; medium weight. sß.ls®b<A); Iljfht weight, $8.13®8.36; light lights. si<A)®B.26, heavy packing sows, smooth, 80 50®7; packing sows, rough, $6 13® 6-66; pigs, s7'tJß. Cattle Receipts, 12. 000; market mostly steady; calves. 25c lower; beef steers, choice and prime. $6.85® 10.30: medium and good, $6.50® 9 25; good and choice, $8.33(110.(3; com mon and medium. $5®8.36; butcher cattle heifers. $4.25®9; cows, $3.50®7; bulls. $4 ® 0 5(1; can Hers and cutters, cows and heifers. $2.35®3 50; ennner steers, $2 75® .'(.30; veal calves ilight and handy weight i. s9® 14; feeder steers. $3®7.25; Stocker $4it6.75; mocker cows and heifers, s3® 4.T0. Sheep Receipts, 20.000; market, mostly steady; lambs (84 lbs. down). sßso® 10.25; culls and common. $5.75® V 25; yearling wether*. $5 25®7.75; ewett. $-(({ 5; culls und common, s2®2 73; breed Ing ewes, $3.25®6.50; feeder lambs, $5.75 ®7.50. CINCINNATI. Sept. Js.—Hogs- Re eeipts, ♦..’HA); market, steady; heavies. $7 26®M,25; mixed, mediums and light*. $8.60; pigs, $7; roughs, $5.75; stags, $4.75. Cattle Receipt*. '. ,700; market strong to weak- heavy ste *rs. dull; heifers, cows and -buils. strong to 26 cents higher; calves, sl4 Hheep and lambs Receipt*. 1.500; mnrket. steady to 25 cent* higher; ewe*, sl®.'(; choice lambs, $10.25; seconds, $7®7.50; cull*. $3.30®5. PITTSBURGH, Sept 15—Hog*—Re eeipts, 5,00; market, €0 cents lower; prime heavies, SS®B.2B; mediums. $8.50 ®44 73: heavy yorkers, $8.5<i®8.75; light yorkers. $8®8.25; pigs, $7.75®6; roughs, ss®fi.7s; stags. s4® 4 26; heavy mixed. $8 2t>®ft.33. Cattle—Receipt*, ls than 400; market steady; calves, slo® 11.00. Sheep and lambs—Receipts. 1,500; market. steady; prime wether*. s4@s; good mixed. [email protected]; fair mixed. $3.25®3.75; coll* and common*. &I@2; choice lambs, $10.50.

EAST BUFFALO. Sept. 16.—Hogs—Receipts, 2.400- market. Irregular; vorkers. $9; pigs. $ 1 @7.25 ; mixed, [email protected]; heavies, $9.25; roughs. $5.25@6; stags. [email protected]. Cattle—Receipts, 250; market, slow; prime steer*. [email protected]; shipping steers. [email protected]: butcher grades, $7.75(0 9; heifers. $5.50(38: cows. $1.50(88; bulls. $3<85.50; feeders, $4.50®5.75; utllk cows and springers. $45(8135. Sheep and lambs Receipts. 1.400: market, steady; choice lambs, $10.50(810.75; cull to fair, $44'7; yearlings, [email protected]; sheep. $4.50® 5. Calves - Receipts. 125; market, active; cull to choice, ss@ll. V EAST ST. LOUIS, Sept. 15— Hogs— Receipts. 4,74)0; market, 15 to 25 cents lover; mixed and butchers. [email protected]; good heavies. $8(88.65; roughs, $5.50® 6.50; lights. [email protected]; pigs, [email protected]; bulk of sales. [email protected]. Cattle—Re celpts, 1,500; market, steady; native beef steers, $9®9.50; yearling steers and heifers, [email protected]; cows, $5.75® 6.50; Stockers aud feeders. $4.50(q.6; calves. [email protected]: canners and cutters. $2®3.25. Sheep and lambs—Receipts. 850; market, steady; mutton ewes. [email protected]: larnhs. $8.50@10; canners and choppers. $1.25® 2.50. WHOLESALE BEEF PRICKS. The following are today’s wholesale prices for beef cuts as sold by Indianapolis markets: Rile—No. 2. 22c; No. 3,20 c. Loins— No. 2,18 c; No. 3.18 c. Rounds—No. 2, 17c; No. 3,14 t. Chucks—No. 2,10 c; No 3,8 c Plates —No. 3.8 c; No. 2,7 e.

Conservative Investments The Small Investor of Today Becomes the Large Investor of Tomorrow. We furnish attractive investments, combining safety of principal and satisfactory interest return. Investments Are Available In Small Denominations. THE BANKERS INVESTMENT CO. 1014 Merchants Bank Building, Indianapolis. Phone MAin 3976.

Money to loan on Mortgages STATE LIFE INSURANCE CO.

Weather

The following tabla show* the state of the weather at 7 a. m.. Sept. 15, a* observed by United States Weather Bureaus ; Station. Bar. Temp. Weather. Indianapolis, Ind.. 30.13 6$ FtCldy Atlanta, Ga 30.06 74 Clear Amarillo, Texas.... 30.00 64 PtCld.v Bismarck, N. D.... 30.34 50 Cloudy Boston, Mass 30.04 64 Clear Chicago, 111., 30.14 68 Cloudy Cincinnati, 0hi0... 30.10 66 Rain Cleveland, 0hi0... 30.06 68 Cloudy Denver, Colo 29.96 58 Cloudy Dodge City, Kan.. 29.92 70 PtCldy Helena. Mont 30.14 88 Cloudy Jacksonville, Fla... 30.98 74 Clear Kansas City. M 0... 30.00 74 Clear Louisville, Ky 30.14 72 Clear Little Rock, Ark . 30.08 70 Clear Los Angele 9, Cal.. 29.92 58 Clear Mobile. Ala 30.08 78 Clear New Orleans. La .. 30.00 80 Clear New York. N. Y.. 30.06 66 Clear Norfolk, Va 30.06 72 PtCldy Oklahoma City 30.00 72 Clear Omaha, Neb 29 98 72 Cloudy Philadelphia, Pa... 30.06 60 Cloudy Pittsburgh. Pa.... 30.06 64 Cloudy Portland, Ore 80.14 48 Clear Rapid City, S. D.. . 30.28 46 Rain Koseburg, Ore 30.12 40 Clear San Antonio, Texas 30.94 74 Clear San Francisco, Cal. 29 90 62 Clear St. Louis, Mo. H 30.10 72 PtCldy St. Paul, Minn 30.18 56 Cloudy Tampa. Fla 30.04 78 Clear Washington, D. C. 30.04 70 Clear WEATHER CONDITIONS. Generally fair weather prevails this morning In all portion* of the country, except the Missouri and upper Miesissippl Valleys and upper lakes region, where light showers occurred since yesterday. Freezing temperatures or lower are again reported in the northwestern Canadian Provinces, and they continue below normal over the northern plateau and northern Pacific State*. From the western plain* State* eastward they are normal or above, except In New England.

CORN AND nil EAT BULLETIN. For the twenty four hours ending at 7 a. rn , Thursday. Sept. 13, 1921: (Temper- t ; * ture a Stations of j and Indianapolis „ _ £ ►> District. g? S*ia£i g=S Jo*.:* o t v-ej izz fct !*- Iff e) CctL itc ej'jJ 16--EJcl QSz South Bend ....“.I 77 57 9 “Good Angola .I 81 59 0 Good Ft. Wayne : SO 58 0.04 1 Wbeatfield 82 55 0.33 I Good Royal Center jBO 54 0.02 Good Marion 85 58 i 0 : Good Lafayette JB3 60 0 Good Farmland jBS 60 ! 0 ‘Good Indianapolis 83 i 61 ! 0 ! Good Cambridge City..i 86 ;62 | 0 Good Terre Haute | 86 60 0 Good Bloomington 1 88 i 64 0 I Good Columbus ■B6| 67 i 0 Rough Vincennes 90 69 ! 0 Good Paoll !86 ! 07 ’ 0 ; Good Evansville |9O 72 j 0 j tTg. SHIPMAN, Temporarily In Charge. CHICAGO PRODUCE. CHICAGO, Sept. 15.—Butter—Receipt*. 3,773 tubs; creamery extra, 43c; firsts. 33%<037c; oacki.ig stock, 23®24c. Eggs— Receipts, 4,726 case*; current receipts, 20®30c; ordlnnry firsts. 2C®2Sc; firsts. 30®32%c; check:!, 19®21o; dirties. 20® 22c. Cheese —Twin*, new, 19®19%'; daisies, 10%®20c; young Americas, 20® 20%c; longhorns. 20®20%c; brick, 19® 20c. Live poultry—Turkey*, Ssc; chicken*, 22®27c; springs. 22®23%0; rooaters. 17c; geese, 20e; ducks, 20®230. Potato— Receipt*. 68 cars; Minnesota* and Ohios per 150-lb. bag. $1.75®?: Idaho white*, per 150-lb bag. S2.SO®2 90: Ue.l- - Ohio*, per 150 Ib. bag, $2.80(82.95; Wisconsin*, per 150 lb bag. $2.a8®2.56. TOLEDO SEED PRICES. TOLEDO. Sept. 15. —Cloverseed—Cash. sll S5; October, ilYSic; December. sl2 02%; February. $12.15: March sl2 10. A 1-nke—Cash. $10.50: October. $10.65: De eernber, $10.76: March, $lO 90 Timothy 1020 cash. $2.50: 1921 rash, $2.65; September. $2 65; October, $2 65; December. $2 70; January, $2.75; February, $2.80; March. $2 85. Marriage Licenses

rsndell Stephsnoff. R R. B-2 26 Eiiva Toleva. R. R. B-2 23 Altie Wiley, Fortvllle, Ind 26 Bessie Chappell, 2715 N. Dearborn at., is Ernest Cam Held Shelbvville, Ind. ... 23 Ha Hie Gowdy, ShelbyrfUe, Did 20 George Katzenlierger, Hi# Oxford st. 23 Ruth Oehler, 1425 N. La Salle 5t.... 25 Harry Dickerson, 535 River ar 22 Flora Nunn, t<s7 River ar 35 Despa Slankavich, 132 K. Detroit at.. 29 Myrtle Eucey, 130 Detroit st 25 Walter Clark, Acton. Ind 21 Sarah Jesterin, Acton. Ind 16 Mlnrhe Chicodrnff, 711 Concord st 34 Elena OrleuUka, 703 Ketcham at 20 Elmer Kleckinger, 4211 Broadway st... 5J Lillian Wlecike, 1514 Park av 42 Orllff Eastes. 43S E. Market st 21 Irma Bischoff, 430 Virginia av 19

Births William and Lena Plummer, 727 Bates, boy. William and Mary Laker, 1501 S. Talbott, boy. Clarence and Alice Meister, 1534 New, boy. Joseph and RAse Etter, 217 Bicking, girl. Joseph and Effie Payne, 1800 Lambert, girl. John and Lorraine Morrell, 574 Highland, girl. Waiter and Georgia Banks, 926 Charles, girl. Donald and Arline McMahon, Methodist Hospital, girl. William and Edith Conley, Methodist Hospital, boy. Donald and Elizabeth Stackhouse, Methodist Hospital, boy. Alvin and Pauline Berger. Methodist Hospital, girl. WlUnrd and Frieda Brandt, 941 North Jefferson, girl. Arvllle and Maude Jones, 150 South Oriental, girl. Isaac and Bessie Lemaster, 2343 Northwestern. boy. Walter and Mary Morgan. 413 Arbor, boy.

Deaths lona Sharp Shephard, 25. 1450 Brookside. pulmonary tuberculosis. William Hauelsen. 82, 3314 North Meridian. broncho pneumonia. John Vlntlla, 44, Deaconess Hospital, acute nephritis.. Georgia Callis, 61, 844 West Walnut, acute gastric dilatation. Margaret Patterson Brown. 82, 1956 Ruckle, senile chorea. Joanna Traub, 74, 2012 Central, lobar pneumonia. Hiram O. Walter, 33. 412 Caven, chronic endocarditis. Mamie Harris, 43, city hospital, cerebral hemorrhage. William Hoffmark, 13, city hospital, intestinal obstruction.

SPECULATORS M BEGIN TO FEEIJ STOCK MARKER Help the Professional Get of Investments Since Discredited, PLENTY FREE CAPITAL Special to Indiana Dally Times and Philadelphia Public Ledger. By C. B. EVANS. CHICAGO, Sept. 15.—The anticipator is the man of the hour. The crowd just sits on the bank of the stream and watches the prices float by. The anticipator Is not necessarily the prognosticator. We have all been in the latt r class these many month* and event* have disported themselves in entire disregard of all that was said about 'hem. The stock market Is the 1 ”“st place to make profit* and losses and >i has in Its constituency million* of people whose particular line la production of one sort or another, but who see in the stock quotations oftentimes a much more promising hazard than anything in their owu business. A few of these people have been accumulating discredited stocks. And now has come to their help the speculator, who. feeling for the attitude of the people, has concluded that It is time to experiment with the market at least. How little the miscellaneous crowd of speculators Is doing, even at this somewhat advanced stage In the rise, la well Indicated by the almost complete absence of stock brokers’ paper at Chicago

banks. Some of the brokers say. too, that their lines ara decreasing Instead of increasing. If this Is general through- 1 out the country and continue* for any length of time, naturally there will be a reaction in prleee. for Mr. Livermore does not buy stocks for the profit of other, than Mr. Livermore and Is not over anxious to carry a load which will tend to increase ’until the public cornea Into the game. MONEY MARKET BATHER EAST. Yet In this city there are conditions favorable to better prices for the be*t stocks. Business generally baa not re-, vived and the few incidents of new activ-i Ity count for little. The stimulating forces are the encouraging progress In liquidation and a rather easier money market. There Is plenty of free capital and tbe advanced prices for bonds are commonly a symptom of what will happen In stocks. Back of it all are the large surpluses of the companies in paat reports. Tbe livestock business has ceased to be' much of a menace, but the fact that help la still called so-r show* that much is yet! to be done to bring it to a stable condition*. The syndicate of banks that en-j gaged some months ago to lend $50,000,000 on that class of property has handed out thus fax $13,000,000 and more is wanted. The fact that the Government has enlarged its functions in the matter of helping agricultural Interests is a relief to the rescue brigade of the 1 anks now working on that line and easy conditions in that Interest axe to be expected in the near future. % Tbe banking situation la In striking contrast with that of a few months tgo. Tbe country banks have not only pji*d np many of their loan*, but nave Increase,! their deposit* in tbl* city. One institution reports a recent gain of $10.00(1.00(1 In part this is due. however, to the approach of Sept. 15, when heavy tax payment* are due. BELIEVES STOCKS WILL CO HIGHER.

A well known broker asked two questions of a friend this morning Are agricultural conditions goods? Will Europe Improve? The answer to both was afflrraltlve. If Germany should drop through the crust of the earth some dark afternoon, the answer to the question about Europe might not look so pretty as it doe* today. Tbe broker drew as h's ••onciuiion from these two answers that stocks will go higher and he seemed to need no other data on which to base Ills opinion. The railroads and lndustriil companies, he appears to think, can take eare of themselves if theee two main conditions are fulfilled. M'e can count pretty surely on tbs agricultural interest for an indefinite time in the future, for It is swinging tnto a good position. As for Germany, the fluestion whether paper marks shall be extlngaiished as an international money if probably not vital, for this country's liquidation in that direction has already occurred in the main and Germany baj few American stocks to throw back on our market. —Copyright, 1921, by Public ledger Company.

This Opportunity May Not Gome Again For Many Years

IF you have been looking at quotations on the stock market with a feeling of regret because you haven’t the funds available to pick up the bargains you want —if you see the present opportunity but have been holding off for want of capital— The KRIEBEL SYSTEMATIC SAVING PLAN will aid you in financing your investment. It will enable you to buy the listed securities you want —right now, while prices are at an extremely low level—and buy them on convenient, easy payments. The amount of these payments is fixed at the time you buy, and there are no margin calls. You know, therefore, exactly what obligation you have to meet. Furthermore, you participate in all the dividends and other benefits of the securities you buy on the Kriebel Plan, just the same as though you bought for cash. Thousands of shrewd investors have learned that the Kriebel Plan enables them to make their dollars grow much faster than they will ever grow on a basis of buying for cash, because they control five times as large an investment. Peter Perkins has written a book which he call* "Getting Ahead,"and this book is not only an Intensely fascinating story, but ft will tell you all about the Kriebel Plan. It will show you the to more profitable investment. Ask us for a free copy of "Getting Ahead."

KRIEBEL & CO. Investment Securities Kahn Bldg., Indianapolis, Ind. Kansas City Chicago Milwaukee Rockford Detroit Cleveland St. Louis Cincinnati

I WILL BUY Federal Finance Common and Preferred. Majestic Tire, Burdick Tire. Duacnberg Motors, U. 8. Automotive, Great Southern Producing and Refining, State Savings A Trust Cos.. Fletcher American National Rank. Stocks, NEWTON TODD 415 Lemcke Bldg.