Indianapolis Times, Volume 34, Number 111, Indianapolis, Marion County, 19 September 1921 — Page 10

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PRICES FIRM IN FACE OF SEPT. TAX PAYMENTS No Ugly Market Reaction, Despite Reports of Large Delinquencies. GAIN IN RESERVE RATIO Special to Indiana Dally Times and Philadelphia Public Ledger. • BY MONITOR. NEW YORK. Sept. 19— Although price movements in the security markets have registered n* concrete evidence of a substantial improvement in sentiment, there is no doubt that the firmness displayed by the market may be taken as an idex for growing optimism. For one thing, the Sept. 15 tax date was negotiated without ugly reactions despite the fact that the deliquencies in payments are reported to have been quite large. A further gain in the Federal reserve ratio to the basis of 67.5 reflects the influence of continued gold imports and the accretion of funds resulting from commodity liquidation which, in the case of certain agricultural products, is being accomplished at fairly satisfactory prices. The air of gloom and pessimism is rapidly disappearing from banking circles. In fact, the head of one of the largest financial institutions, who returned last week from a real vacation whi-ch had put him out of touch with current developments, stated a day or so after a survey of existing conditions that he was utterly amazed at the change that bad taken place in a period of three weeks. BUILDING UNDER MAY. Evidently this new atmosphere of cheerfulness should not be confused with the forced "sunshine movement” of last winter, when it was argued that psychology would remedy our economic ills. There are too many signs of improvement on all sides to assume that a sate of mind is responsible for the transformation. For one thing, building operations at last are under way and the effect has been pronounced not only in the increase of employment, but in the demand for all clas-fes of material. Lumber prices are sharply on the rise with advances of S to 15 per cent in the last month. The demand is on a very large scale. It Is probable that the more favorable outlook In agriculture bas been a strong contributing factor. There is much sound economic wisdom In the follcwing statement attributed to an official of one of the farm organizations : “Prosperity comes from the profits on production put into circulation. Fully 75 per cent of these profits must come from the farms. When farmers and live stock growers get profits, they cheerfully spend t ese and the public gets the benefit of them.’’ TEXTILE INDUSTRY GAIN CONTINUES. The textile industry continues to gain. The census bureau report on the amount of cotton consumed in August by American mills placed thf amount at 4tt7.<wu bales against 410,0X1 in July and 4S3.UOU in August last year. The August consumption is at the rare of 5,600.000 bales per annum, compared with i total consumption of 4.SS7.'A*i> bales for the season which ended with July this year. While it is stimulating to note these "*slgns of progress, it is also sobering t take account of the problems stiM to be solved. Railroad rate? are verv high, and there is insistent demand for a reduction. The roads undoubtedly would be glad to cut their teriifs if they could obtain a corresponding reduction ir. operating costs. It Is suggested that it a 15 per cent wage reduction would be agreed to by the men. the cr. trier.? wooid institute lower schedules and at the same time take on a greatly increase.! force of men. This would be a great forward step, and its benefits would he manifold. It would mean Increased employment, larger aggregate wage payments, lower coats for the railroads, decreased overhead, probably increased tonnage and lcwer rates for the snipper an 1 the travelling public. A further reaction would be found In reduced living costs. —Copyright, 1921, by Public Ledger Com. pany.

Weather

The following table shows the stale of the weather at 7 a. in.. Sept. IS), as observed by U. S. Weather Bureaus: Station.' Bar. Temp. Weather. Indianapolis, Ind... 50.25 58 PtCldy Atlanta, Ga 80.18 74 Clear Amarillo, Texas ...29.92 04 PtCldy Blsmarok, N. D... 29.56 6b t lenr Boston, Mass. .. 30.10 58 Clear Chicago, 111 30.24 00 Clear Cincinnati, 0hi0... 30.26 56 PtCldy Cleveland, 0hi0.... 30.30 60 Cloudy Denver, Colo 29.82 50 Clear Dodge City, Kan... 29.86 64 Clear Heluna . Mont 28.52 46 Cloudy Jacksonville, i'la... 30.18 80 Cleur Kansas City, M 0... 28 88 66 Cloudy Louisville, Ky 30.24 64 Clear Little Rock, Ark... 30.10 74 Clear Los Angeles, Cal.. 28.98 60 Cloudy Mobile. Ala 30 10 82 PtCldy New Orleans, La... 30.66 74 Rain New York, N. Y 30.16 58 Clear Norfolk. Va 30.20 68 Clear Oklahoma City .... 89 86 72 Cloudy Omaha. Neb 28.56 62 Rain Philadelphia, Pa 30.20 62 Clear Pittsburgh, Ta WHO 60 Cloudy Portland. Ore. ...... 29.74 52 Rain Rapid City, S. D... 29.66 58 Clear Roseburg, Ore. 29.94 64 PtCldy San Antonio, Texas 30.00 72 PtCldy San Franciseo, Cal. 30.02 58 Rain 6t. Louis, Mo 30.10 64 Rain St. Paul, Miun 30.08 54 PtCldy Tampa, Fla 30.12 78 Clear Washington, D. C... 30.24 62 Clear The storm which was present over the north Pacific coast Saturday morning is moving slowly eastward across the northern Rockies and Plains section, accompanied by precipitation as far southeastward as the middle Mississippi Valley, where it Is raining this morning. Temperatures In front of the storm are considerably higher, and the readings oyer the Northwest, which have been below normal for several da} s. have again risen to several degree** above the seasonal average. J. H. ARMING TON, CORN AND WUEAT BULLETIN. For the twenty-four hours ending at 7 a. m., Thursday, Sept. 15. 1921: iTemper- ( I ature. c - j ~ c de Stations of .• | iud-anupolis 4, * • “ _§ ►> District. JC c i. ■--jl g;5 South Bend 1 771 57 ! 0 I Good Angola I81; 59 ' 0 ! Good Ft. Wayne ! 80 58 i 0.04 Wheatfieid 82 I 55 j 0.33 Good Royal Center I80; 54 ! 0.02 Good Marion |BS 58 I 0 I Good Lafayette .S3 60 ! 0 : Good Farmland 88 60 ! 0 I Good Indianapolis 83 61 1 0 1 Good Cambridge City.. 86 :62 j 0 j Good Terre Haute 86 . 66 0 Good Bloomington 88 64 | 0 ! Good Columbns .. 86 ! 67 : 0 : Rough Vincennes ....... 80 69 I 9 j Good Paoll 'B6 07 | ,0 Good Evansville 90 1 72 | 0 j ~ T. G. SHIPMAN; ’ Ternnorarily in Charge. TOLEDO SEED PRICES. TOLEDO, Sept. 19. —Clover seed—Cash $12.45: October, $12.45; December, $12.65 bid; February, $12.80 bfd; March. $12.75 bid. Alsike—Cash, $10.50; October. $10.65; December. $lO. u; March, $10.90 bid. Timothy—l92o cash. $2.00; 1921 cash, $2.60; September, $2.60; October. s2.f>o: December, $2.67%; January, $2.72%; February, $2.77%; March, $2.52%.

2V. 7. Stocjc Exchange

—Sept. 17— Prev. High. Low. Close, close. Adv.-Rum. c0m..13% 13 13% 13% Ajax Rubber... 22% 21% 22 21% Allis Chainlets. 34% 34 34% 38% Am. Beet Sugar 29% 29% 29% 30 Am. B. Mag. Cos. 34% 34% 34% 85% Am. Car & Fdy.l27 126% 127 127% Am. Drug 3% 4% 4% 4% Am. H & I, com. 11 11 11 11 Am. H & L pfd. 56 56 58 51% Am. In. C'orp... 32 31% 31% 31% Am. Linseed.... 24% 24 24 24% Am. Loco 90"s 90 90% 90 Am. S. A Ref... 37 36% 36% 36% Am. Sugar Ref. 63% 62% 63% 63 Am. S. Tob. Cos. 44% 43% 43% 44 Am. Steel Fdy.. 25 25 25 25 Am. Tel. & Te1..108% 108 108 108 Am. Tobacco... 125% 125% 125% 125%, Am. Woolen 75% 74% 74% 15% Ana. Mlu. C 0... 38% 38 38% 38% Atchison 84% 85% 85% 85% Atl. Gulf & W.I. 28 27 % 28 28 Baldwin Loco.. 90% 88% 89% 89% B. & 0 38% 38% 38% 38% Beth Steel <B). 55% 54% 54% 55% Califor. Pete.... 31 36% 36% 37% Can. Pac. Ry... 112% 1121* 112% 102% Cent. Leather... 28% 28% 28% 28% Chandler Mot... 47 46% 46% 47% C. M. & St. P . 25% 25% 25% 26 CM. & St.P.pfd. 39% 39% 39% 40% Clii. & N. 1V.... 67 67 67 C. R 1. & P.... 33% 33% 33% 33% C.R.1.&P.6%pfd.. 6*5 66 66 66 C.R.lAtP.7%pfd.. 77% >76% 77% ..... Chili Copper.... 11% 1 10% 11 10% Chino Copper . 23% 23% 23% .... Cocoa Cola ... 35% 35 35 35 C. F. & Iron .25 24% 25 25 Columbia Gas . 57% 57 57 57 Columbia G. ... 4% 4% 4% 4% Cosden Oil .... 26% 26 26 26% Corn Prod. ... 74% 73% <3% 74% Crucible S 63% 61% 02% 62% C. Am. Sugar . 13% 13% 13% 13% D. & Hudson .101 101 101 Eudieott 65% 64% 64% 65% Erie 13% 13% 13% 13% Erie Is: pfd. .. 19% 19% 19% 19% Famous P 56% 55% 55% 56% Geu. Asphalt.. 52% 50% 50% 51% Gen. Electric.. 126% 126% 126% 126 Gen. Motors.... 10 10 10 10 Gt. North, pfd. 76% 75% 75% 76% Gt. North. Ore 28% 28% 28% 29 Gulf States 5... 39% 39% 39% 40% Houston 0i1... 51 50% 50% 53% Illinois Cen 95% 95% 95% 95% Inspiration Cop. 34 34 34 33% Interboro Corp. 2% 2% 2% 2% Invincible Oil. 8% 8% 8% 8% Inter. Harvester SI 80% 81 80% Inter. Nickel... 14% 14 It 14% Inter Paper... 50% 48% 49 50 Island O. & T. 2% 2% 2% 2% Kan. City 5... 26 26 26 26% Kelly-Spring. T. 42% 40% 41% 42 Kennecott Cop. 20% 19% 19% 2*l Lehigh Valley 52% Loews, Inc 14% 14 14 -.4% Marine pfd 45% 45% 45% Mont.-Ward ... 19 18% 11% Mex. Petroleum. 115% 112% 113% 115% Miami Copper.. 21% 21% 21% 21V* Mid. Sts. 0i1... 12% 12% 12% 12% Midvale Steel... 26 22 26 26% Mo. Pacific 19% 19% 19% 20 Mo. Pacific..,.. 39% 39% 30% 40% Nat. En. & Stp. 37 37 37 Nev. Con. Cop.. 11% 11% 11% 11% N. Y. Cen 71% 71% 71% 71% New Haven 14% 14% 14% 14% Northerns Pac. .. 78 <i% 77% 77% Okla. Prod. & R#f 1% 1% 1% 1% Pac. Oil 35% 35% 35% 35% Pan-Am. Pet. .. 52 50% 51% 52 Penna. Rv. ... 38% 38% 38% 38% Pierce-Arrow .. 12% 12% 12% 12% Perre Marq 19% 19% 19% Rv Stl Springs 85 85 85 85 Pure Oil 24% 24% 24% 24% Reading 71% 70% 71 71V* Rep. Iron & Stl. 53% 52 52 53% Roya! Dutch NY 49% 48% 49% 48% Scars-Roebuck . 69% 69 69 % 09% Sinclair 30% 19% 19% 20% S-Sbeff. S. J I. 39 39 39 89 So. Pacific 77% 77V* 77Vi 71% S. Ity 30% 20% 20% 21 St. L. & S.W.Rv. 25 24% 24% 24% Stand.O. N. J.pfd.lo7 107 107 St.L. & S F.com. 23% 23% 23% 23% Strom. Carb 33 82% 32% Studelaker 76% 75% 78 76 Texas Cos 35% 35% 35% 35% Tex. & Pacific... 22% 22* 22% 23% Tob. Prods 69 67% 67% 69 Trans. OR 8 7% 7% 7% Union Oil 18% 18% 18% 18* Union Pacific. .120% 120% 120% 119% U. R. Stores 54% 53% 53% 54% U. S. Ford Corn. 14% 11% 12% 14% United Fruit C 0.109% 109% 109% 108% U. S. Ind. Alco.. 48% 48 48 48% T*. S. Rubber.... 49% 48% 49% 49% U. S. Steel 79% 78% 78% 79% U. S. Stee! pfd.. 109% 100% 109% 109% Utah Copper 50% 50 50 49% Vanadium Steel. 33% 32% 32% 33 Wabash Ist pfd. 20% 20% 20% 21 Will vs Overland. 6% 6% 6% 6% White Oil ...... S 8 8

NEW YORK LIBERTY BONDS. —Sept. 17— Prev. High. Low. Close, close. Liberty 3%8 88.06 87.50 87 64 87.82 Liberty Ist 4s 89.00 Liberty 2d 4s 89.00 liberty Ist 4%5.. 83.06 88 90 89.06 88 90 Liberty 2d 4%5. 89.16 89 00 89 06 89 lo Liberty 3d 4%5. 92.92 92.78 92.84 92.88 Liberty 4th 4%5. 8:726 89 10 8!>.18 89.14 Victory 3%s 99 06 99 04 99.04 99.04 Victory 4%s 99.06 99.02 99.04 99.06 CHICAGO STOCKS. (By Thomson & McKinnon.) —Sept. 17— Open. High. Low, Close. Armour pfd 90 90 89% 90 Carb. & Car... 45 Libby 7% 7% 7*; 7% Mont.-Ward ... 19 Natl. Leather.. 6% 674 6% 6(4 Sears-ltoebk .. 69 Swift A C 0.... 95V* Swift Inter.... 22V4 22% 22% 22% NEW YORK WOOL. NEW YORK, Sept. 19.—Trade in wool was dull on the market here today. Domestic fleece, XX Ohio, was quoted at 23® 38c per pound; domestic pulled, scoured basis, at 18@67c and Texas domestic, scoured basis, at 40@75c. NEW YORK HIDES. NEW YORK, Sept. 19—Hide prices were steady in trade on the market here today, native steer hides selling at 12%c per pound and branded steer hides at 13c per pound. NEW YORK PET ROLE I'M. NEW YORK, Sept. 19.-Petroleum prices were firm In trade on the market here today, Pennsylvania crude oil selling at $2.25 a barrel.

Local Curb Market

(By Newton Todd.) ■ —Sept. 19Bid Ask American Hominy com 17 Brazil Sterling 4% 37% 38% Burdick Tire and Rubber .. 1% 2% Capital Film Cos % 1% Central and Coast Oil 1% 4% Choate Oil C’oru 1 1% Columbian Fire Ins. Cos 6 7% Comet Auto 1% 2% Dayton Rubhf* Unite 61 70 Duesenberg Motor Units .... 60 69 Duesenberg Motor com OV4 15V4 Elgin Motor Car 3% 4% Federal Fin. Cos. pfd 72 82 Fed. Fin. Cos. com 125 135 Gt. Sou. Prod. & Ref. Units. 5% 7 Haynes Motor com 118 Hurst & Cos., pfd 45 05 Hurst & Cos., com 1 2% Indiana National Bank 255 265 Indiana Rural Credits 48 64 Indpls. Securities pfd 1% 2% Majestic Tire 12 17% Metro. 5-50 c Stores com 12 16% Metro. 5-50 c Stores pfd 30 35" Revere Motors % % Kub-Tex Units 17 21 State Savings and Trust Cos. 88 93 Stevens-Duryea Units 54 64 Stevenson Gear Units 4 6 T T . S. Automotive Units .... 86 95 U. S. Mtg. Cos. Units 161 171 CHICAGO PRODUCE. CHICAGO, Sept. 19.—Butter—Receipts, 6.264 tubs; creamery, extra, 42c; firsts, 33@40%c; packing stock, 23@24c. Eggs —Receipts, 8,718 cases; current receipts, 32®34%c; ordinary firsts, 30@31e; firsts, 35®36%c; cheeks. 21@23e; dirties, 23® 25c. Cheese—Twins (new), 19®19%e; daisies. 19%@20e; young Americas. 20® 20%e; longhorns,,2o® 2o'Ac; brick. 19%@ 19 %c. I.tve poultry—Turkeys, 35c; chickens. 22c: springs, 23c; roosters, 16c: geese. 21 >0; ducks, 23c. WHOLESALE BEEF PRICES. The following are today's wholesale prices for beef cuts as sold by Indianapolis markets: Rils— No. 2,22 c; No. 3,20 c. Loins— No. 2,18 c; No. 3.16 c. Rounds—No. 2, 17c; No. 3,14 c. Chucks—No. 2,10 c; No. 3, Bc. Plates—No. S. 8c; No. 2,7 e.

STOCK MARKET CLOSES WEAK Many Issues Sell at Lowest Levels of Day at Close. NEW YORK, Sept. 19.—The stock market closed weak today. The selling movement gained in volume toward the close and many issues finished at the lowest levels of the day. The heaviest losses were sustained in Mexican Petroleum and Baldwin Locomotive. The former, after selling up to 115, dropped to a closing of 110%. Baldwin. from its forenoon high of 90%, broke oter 5 points to 85%. Steel common lost all of its early improvement, closing at 78%. Studebaker yielded over 3 points from the high to 74. The rails yielded fractionally. Most of,the selling was believed to have come from those interests, who, according to rumors, have been putting up prices the last few weeks. It was thought that they attempted to realize on some large blocks and found a very thin market. Total sales of stocks were 636,000 shares; bonds, f13.355,000. (By Thomson & McKinnon.) —Sept. 17— Business today was on a moderate scale. There was a lack of incenlive. There was nothing very striking In the overnight news, which was largely of a routine character, though the news from Washington In reference to the agreement as to the new tax bill and the reports of commercial agancies wore in harmony with the views more recently entertained in stock exchange circles, where the opinion is growing that better things are ahead of us. But, so far ns general sentiment is concerned, there Is still a noticeable lack of confidence through the country, which was emphasized by an exceedly pessimistic editorial in one of our leading journals. It is just such opposition that will make the attainment of the ultimate object more difficult because sentiment after all is one of the essential fundamentals and business makes best progress it when entertains a cheerful view. Omitting from the consideration at the moment the active operations that have been conducted recently and considering only resonable probabilities does It seem likely that improvement once started will progress and thus solidify the foundation for a rising stock market and it seems to us thar the buyer of securities during reactionary periods will have ail the advantage.

CLEARING HOUSE STATEMENT. NEW YORK, Sept. 19—Federal Reserve F.ank credit Balances, $69.400,0X). Exchanges, $407,200,00. Balances, $71,200, 000. TWENTY STOCKS AVERAGE. NEW YORK. Sept. 19.—Twenty industrial stocks last Saturday averaged 70.83, off 12 per cent. Twenty active rails av eraged 73.26, off 13 per cent. Money and Exchange Indianapolis bank Tlearings Monday were $2,630,000, against $5,007,0*X) for Monday of the week before. NEW YORK.' Sept. 19—The foreign exchange market was slightly higher at the opening today. Demand Sterling rose %c to $3.72%. Franc cables improved 8 centimes to 7.18 c: checks, to $7.17c. Lire were unchanged at 4 24c for cables and 4 23c for checks. Marks were .0099 c. Belgian cables were 7.10 c; checks. 7.09 c. Guilder cables were 31 55c; checks. 31.53 c Sweden kron-n rallies were 21.72 c; checks. 21.67 c. Norway kronen cables were 12.85 c; checks. 12.80 c. Denmark cables were 17.‘15c; checks, 17.60 c. NEW YORK BANK STATEMENT. NEW' YORK. Sept. 19.—Average—Loans. Increased $42,997.000; demand deposits. Increased. $51,293,000; time deposits. Increased, $2,078,000: reserve incr eased, $12.4.32.260. Actual—Loans. Increased. $77,139.000; demand deposits. Increased, $52.992.000. Time deposits, Increased, $759,000. Reserve, Increased, $38,256,310.

MOTOR SECURITIES. (By Thomson & McKinnon ) —Sept. 17— —OpeningBid. Ask. Briscoe 10 11 Peerless 40% 41 Hupp com 1114 11% Elgin Motors 3% 4 National Motors 2 5 ACTIVE OIL STOCKS. (By Thomson & McKinnon.) —Sept. 19— —Opening— Bid. Ask. Anglo-American Oii 15 15% Borne-Scrymser 325 350 Buckeye Pipe Line 79 81 Chesebrough Mfg Cons 145 155 Continental Oil, Colorado... .108 111 Cosden 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 86 91 Galena-Signal Oil. com 3+ 36 Illinois Pipe Line 150 153 Indiana Pipe Line 74 76 Merritt Oil 7 7% Midwest Oil 2% 2% Midwest Rfg 138 145 National Transit 24% 25% New York Transit 145 150 Northern Pipe Line. 85 88 Ohio Oil 228 232 Penn.-Mex 18 20 Prairie Oil and Gas 435 445 Prairie Pipe Line 182 185 Sapulpa Refg 33% Solar Refining 340 360 Southern Pipe Line 70 75 South Penn Oil 169 173 Southwest Penn Pipe Lines... 53 56 Standard Oil Cos. of Ind 70% 71 Standard Oil Cos. of Kan .520 545 Standard Oil Cos. of Ky 380 390 Standard Oil Cos. of Neb 145 150 Standard Oil Cos. of N. Y 321 324 Standard Oil Cos. of Ohio 360 370 Swan & Finch 30 35 Vacuum Oil 240 245 Washington Oil 23 28

NEW YORK CURB MARKET. (By Thomson & McKinnon.) —Sept. 17 —Closing— Bid. Ask. Curtis Aero com 1 3 Curtis Aerp pfd.. . 13 Texas Chief 0 8 First National Copper 50 60 Goldfield Con 5 7 Havana Tobacco 1 1% Havana Tobacco pfd 4 6 Cent. Teresa 1 1% Jumbo Exten lon 3 5 International Petroleum 10 10% Nipissing 4% 4% Standard Motors 3% 5 Salt Creek 10% 10% Tonopah Extension 1 7 16 1% Tonopah Mining 1% 1% United P. S. new 1 3 16 15 10 U. S. Light and Heat 1% 17-10 U. S. Light and Heat pfd... 1% 1% Yukon Gold Mine Cos 85 87 Jerome 20 22 New Cornelia 13% 14% United Verde 23% 25 Omar Oil 98 99 Hep. Tire 20 25 Acme pkg 1% 1% Imp. Oil 8 9 XE WYORK RA WSUGAR, NEW YORK. Sept. 19.—Trade in raw sugars was quiet on the market here today. Cubas were quoted at 4.61 c per pound, duty paid, while Porto Ricos sold at 4.21 c per pound, delivered. NEW YORK REFINED SUGAR. NEW YORK, Sept. 19.—Refined sugar trade was dull on the market here today, while value# held about steady. Fine granulated was quoted lit 5.60®5.65c per pound and No. 1 soft at the same figures. NEW YORK COFFEE. NEW YORK, Sept. 19.—Coffee values were steady in trade on the exchange to-day,-opening options being 8 points lower to 7 points higher. Rio No. 7 on spot sold at 7%c per pound. NEW YORK RICK. NEW YORK. Sept. 19.—Rice values were firm in trade on the market here today, domestic selling at 3%@7%e per pound. \ NEW YORK TURPENTINE. NEW YORK\ Sept. 19.—Turpentine sold at 72c per g:>ilou ou the market here today. \ I

INDIANA DAILY TIMES, MONDAY, SEPTEMBER 19, 1921.

New York Bonds

(By Fletcher-Amerlcan Cos.) FOREIGN GOVERNMENT BONDS. —Sept, 19— Bid. Ask. Arg. (Unlisted) ss, Sept. 1, ’45 64 % 65% Belgian 6s, Jan. 1, ”25 1)5% !>•_>% Belgian 7%5, June 1, ’45 102% 107% Belgian Bs, Feb. 1, '4l 101% 101 's ♦Belgian Revt ss, Opt. ’34.-.. 63 67 Berne Bs, Nov. 1, 43 101 102 Chile Ss, Feb. 1, ’4l 98% 98% Chinese (11. R.) ss, June, ’3l 45 4i Christiania Ss, Oct. 1, ’4t5... 101% 102 Copenhagen 5%5, July 1. ’44. 81% 82 Danish Mun Bs, Feb. 1,'46.. .102 164 Denmark Ss, Oct. 15, '45.... 103 103% •Canadian 5%5, Dec. 1, ”22. 87% 89 •Canadian 5%5, Nov. 1, '23... 86 % 88 ♦Canadian 5%s Nov. 1. ’24... 85% 86% •Canadian ss, Dec. 1, '25 84 8->V* Canadian ss, Apr. 1, ”26 94% 94% •Canadian 5%5, Dee. 1. "27... 86 % 88 Canadian 5%5, Aug. 1, ”29 .93 % 94 Canadian ss, Apr. 1, '31.... 90% 0)s •Canadian 6s, Oct. 1, '3l 81% 83 ♦Cau'dlan 5%5, Nov. 1, ’33... 86 87% •Canadian 5%5, Nov. 1, ’34... 83 % 84 * - Canadian ss, Mch. 1, ’37.... 86% 87% •Canadian 5%5, Dec. 1, ’37 87 % 88% •French (V.) os. Opt. ’3l 54 55% •French 4s, Opt. ’43 44 40% •French (Pretn.) ss, Issue ’2O 63% bo , •French 6s, Opt. ’3l 64 French Ss Sept. 15, '45.....100% 102% •Italian (T.) ss. Apr. 1, “25 41 43 •Italian (War) 5s 31 3Jap (First) 4%*, Feb. 15, "25. 85 85% Jap (S.) 4%5, July 10, 25 5 >% Jap 4s, Jan. 1, ’31.... V, Norwav Bs, Oct. 1, ’4O I*>s RX3 Paris 6s. Oct. 15, "21 99% 100 Russian 6%5, June 18, 19 10% D% Russian 5%5, Dec. 1. 21 14% D •Russian 5%5, Feb. 14, ’26 4 9 Sao Paulo 8s Jan. 1, ’36 98 •% Swedish 6s, June 15, ’3O 89 tw Swiss 5%5, Aug. 1, ’29 M|% Swiss Bs, July 1, ’W 106% 106% U. K. 5%5, Nov. 1. "21 ‘.19% 99% r. K. 5%5, Nov. 1, ’22 98% 95% U K. 5%5, Aug. 1, 29 >9% 98% Zurich Bs, Oct. 15. ’45. 101% 102 Dominican 5%5, Jan. 38 ... 91 94 Dominican 5%5, Felt. 58.... *9 h-% •internal Loans. CORPORATION BONDS. Bid.’ Ask. Alum. Cos. of A. 7s, Nov., ”25 98 98% A. Cotton Oil 6s. Sept. 2, ”24 90 90% Arner. Tel. 6, Oct., ’22 99% 99% Ainer. Tel. *, Feb., ’24 98 98% Amer. Thread 6s Dec., ’2S.. 97 97% Arner. Tob. 7, Nov., ”22 100% 101% Amer. Tob. 7s, Nov., ”23 101 101% Anaconda 6s, Jan., '29 90 91 Anaconda 7s, Jan., ’29 94% 95% Anglo A. Oil 7%5, Apr., ’25 100% 101% Armour 7s, July 15. ’3O 98% 98% Atlantic Ref. %*, Mch., ’3l 101% 101% Bell Tel. of Can. 7s, Apr . ’25 9S 99 Beth Steel 7s, July 15, ”22.. 99% 100% Can. Pacific C. Mehf. 2, '24.. 98 98V* R. I. A- P. 6s, Feb., ’22. . 99 99% Con. Gas Bs. Dee., ”21 .10"% 100% Copper Exp. Bs, Feb. 13, ”22 I*Xl% 101% Copper Exp. Bs, Feb. 15, ”23 100% lot Copper Exp. 8, Feb. 15. ’24 101% 101% Copper Exp. Bs, Feb. 15, ”25 101% 101% Cudahy 7s. July 15. ”23 ... 99% 10*1 Fed Sugar 6s. Nov., ”24.... 96 97 Goodrich 7s, Apr., ’25 91 91 % Gulf Oil 6s, July, 23 97 % 98 Gulf Oil 7s. Feb , ’33 99% 100 Hocking Val. 6s, Mch., ’24 . 94 94% Humble Oil 7s. Mch. 15, ’23 97% 98 Int. R. T. 7s. Sept., ’2l 75 76 K. C. Term 6s. Nov 15, ”23.. 98 98% Kenn Copper 7s. Feb ’3O. . 93% 94% Laclede Gas 7s, Jan., *29. . . 91% 92*-* I.ig & Myers 6s, Dec , ’2l ..100 100% Proctor & G. 7s. Mch, ’22..t0n% ino% Proctor A O. 7s, Mob . ’23 .101 101% Pub Ser N J. 7s. Mch , ’2*2 96% 97 R. J. Reynolds 6s. Aug . ’22 99% 100% Rears Roebuck 7s, Oct, 15. ’2l 99% 100% Sears Roebuck 7s. Oct. 15. ”22 98 % 99 Sear* Roebuck 7s, Oct. 13, 23 97 % 98 Sinclair 7%5. May 15, ’25 92% 94 Solway & Cie Bs. Oct, *27... . 99% 100% Southern Rv. Os Mch., ’22 . 08% 98% S \V. Bell Tei 7s. Apr. ”25 . 97 % 97% Stand Oil iCal ) 7s. Jan . ’3l 103% 104% S. Oil (N. Y.) 7s. Jan.. ’25-’3l 102 105 St. P. U. r>. 5%5, Dec. 15, ”23 07% 98 Swift 7s, Oct. 13, ”25 99 99% Texns Cos. 7s, Mch. 1. ’23 100 100% Utah Sec. Os. Sept 15. ”22 . 93% 94% Waltham Watch 6s, Aug , ’24 89 93 Western FI. 7s. Apr.. ”25 100% 101 Westinghou-e 7s, May, ’3l 102% 103%

Local Stock Exchange

—Sept. 19STOCKS. R'd. Ask Ind. Ky. & Light com 60 Ind Ky <fc Light pfd 75 Indpls. & fi. E. pfd Indpls St. Ry 34 41 T. H. I. A L. pfd 48 T. H. I. <fc E. com 2 T. U. I. & E. pfd 10 U T. of Ind. com 1 U. T. of Ind. Ist pfd 7 U. T. of Ind. 2d pfd 2 Advance-Rumely corn Advanco-Rumely pfd Aoi. Central Life 175 Am. Creosotlng pfd 91 Felt K. R. com 53% 02 Belt R. R pfd 42% ... Century Bldg Cos. pfd 91 Citizens Gas C 0.... 20 25 Dodge Mfg. Cos. pfd Home Brewing 52 Did. Hotel com 50 Ind. Hotel pfd 93 ... Ind. Nat. Life Ins. Cos 3% ... Ind. Title Guarantry C 0.,.. 55 65 Ind. Pipe Lines 73 77 Indpls. Atiattoir pfd 40 50 Indpls. Gas 40 00 Indpls. Tel. Cos. com 2 Indpls. Tel. Cos. pfd 90 Mer. Pub. Util, pfd 40 Nat l Motor Car Cos 2% 4% Rub. Sav. Ins. Cos 4 ... Ranh Fertilizer pfd 40 Standard Oil of Indiana 69% 72 Sterling Fire Ins. Cos 6% 7% Van Camp Hdw. pfd 90 100 Van Camp Prod. Ist pfd 100 Van Camp Prod. 2d pfd 100 Vandalla Coal Cos. com 3 Vll minim Coal Cos. pfd 4% 7% Wabash Ry. com 7 g% Wabash Ky. pfd BONDS. Broad Ripple 5s 50 Citizens St. Ry. 5s t>9 Ind. Coke & Gas 6s 94 Indian Creek Coal & Mine luu Indpls. C. A South 5s 88% indpls. A: Martinsville 55.... 45 Indpls. & Northern 5s 39% 43% Indpls. k N. W. 5s 50 56% sudpls. A 8. E 5s 45 Indpls. S. A- S. E. 5s 70 Indpls. St. Ry. 4s 4.8 s*.* Indpls. T. S. T. 5s 67 74 Indpls. Gas Cos Os 71 77 T. H.. I. & E. 5s X'. T. of Ind. 5s -t”% -‘4 Citizens Gas Cos. 5s 73 80 Indpls. Gas os VI 7/ Kokomo, M. & W. 5s 74 ... Ind. Hotel Cos 2d 6s 73% 79 Indpls. Light & Heat 5s 73% 80 Inpis. Water 4%s 66% 75 Indpls.. Water 5s 8S 92 Meh. H. & L. 5s 85% 04 New Tel. Ist 6s 04 ... New Tei. L. D, 5s 93% ... Sou. Ind. Power 5s 93% NEW YORK RAW SUGAR. Liberty First 3%s 17.44 .... Liberty First, 4%s 88.90 89.20 Liberty Second 4%s 89.20 19.42 Liberty Third 4%s 92.84 93.18 Liberty Fourth 4%s 89.30 30.58 Victory 3%s 99.00 99.20 victory 4% s 99.00 99.20

W HOLESALE FEED PRICES. Ton. Cwt. Acme bran $21.30 sl.lO Acme feed 21.50 1.10 Acme tuidds 21.50 1.25 Acme dairy feed 21.75 2.15 E Z dairy feed 81.75 1.65 Acme H. & M 31.00 1.60 C. O. & B. chop 24 25 1.30 Acme stock feed 24.25 1.30 Acme farm feed 27.50 1.45 Cracked corn 28.50 1.45 Acme chick feed 38.00 2.00 Acme scratch 35.00 1.80 E-Z scratch 31.50 1.60 Acme dry mash 41.00 2.15 Acme hog feed 39.00 2.00 Ground barley 36.5 C 1.90 Ground oats 30.00 1.60 Hotulh k white 27.25 1 40 Rolled barley 36.50 1 90 Alfalfa mol 32.00 t oo I Cottonseed meal 53 00 2.75 Linseed oil meal 54.00 280 Chick mash 38.25 2.00 Tankage 60.00 3.10 Meat scraps 75.00 4.00 FLOUR AND MEAL. E-Z bake bakers' flour In 98-lb. cotton bags $ S.SO | Corn meal in 100-lb. cotton bugs. t ,. 1.75

ALL GOOD HOGS SELL AT $8.50 Poor Grade of Cattle on Sale— Veal Prices Strong. RANGE OF HOG PRICES. Good Good Good Sept. Mixed. Heavy. Light. 13. $5.25 $7.75®! 5.60 SB.DO 14. S.ls® *.75 7.75@ 8.00 8.40® 8.50 15. 8.15® 8.25 7.50® 8.00 8.40® 8.60 15. 8.15 @ 8.25 7.75® 8.00 8.40® 8.60 18. S.ls® 8.25 • 8.00 8.40® 8.50 17. 8.50 B.oo® 8.25 8.60® 8.60 19. 8.50 8.50 8.25® 8.50 Practically all good light mixed, me-' dium and heavy swine sold at $8.50, which was steady to 50 cents higher, tIB trade on the local livestock exenange today. About the only exception to the general price was a small number of underweight light swine weighing around 140 to 150 pounds, which sold at $8.25 Receipts for the day ran close to 7,500 and there was a fair demand by both shippers and local packers. Practically all of the receipts hud been sold at an early hour in the forenoon. There was a large number of light pigs on the market and prices were generally lower, that grade selling at $7(07.50. Roughs were higher, selling at $6.50® 6.75. Good stags sold aUmg with the roughs at about the same prices, while the commoner stags brought [email protected]. There was a fair run or cattle on the market, but the quality and prices were no more than steady. Os the COO cattle in the pens there were only two really good loads of steers. Commission men can foresee no immediate Improvement in the movement of cattle. Veal prices were steady to strong, with 500 calves on the market and a fair demand by shippers. A top of sl4 was paid for choice veals, while the bulk of that grade sold at $12.50(013.50. The common and poor grades of calves were no more than steady. With 400 sheep and lambs on the market. sheep values were steady and lamb prices were steady to 50 cents lower. Prices of choice lambs were steady at sß*o9, but the seconds and commons were 25 to 50 cents lower. HOGS. Best light hogs, 100 to 200 lbs. average S 25® 5.50 Over 300 lbs.,.' 8.25® 8.50 200 to 300 lbs 8.50 Sows 6.50® 6.75 Stags 4.50® 6.00 Best pigs under 140 lbs 7.00(q 7.50 Top 8.60 Bulk of gales $.50 CATTLE. Prime cornfed steers, 1,300 to 1,800 lbs 7.50<g 8.50 Good to choice steers. 1.200 to 1.300 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*3 0.50 Common to medium steers 800 to 1,000 lbs 5.50(8 6.00 —Heifers sud Cows— Good to choice heifers 7 75® 8.00 Medium heifers • 6.00% 7 •>*) Common to good heifers .... 5.00(8 6.00 Good to choice cows 3 75® 500 Fair to medium cows 2.00® 3.00 Cutters 1.75® 2.73 Canners 75(8 3.00 —Bulls— Good to chctce butcher bulls 4 75® 5.30 Bologna bulls 4.00® 4.50 Light bologna bulls 3.25® 4.00 Light to common bulls .... 3.00® 3.25 —Calves— Choice veals '12.50(013 50 Good veals 10.50 11.50 Medium veals B.oo® 9.03 Lightweight veals s*o® 603 Common heavyweight veals . 4 00® 5.00 —Stockers and Feeders— Good to choice steers, under 800 lbs 5 00® 6.00 Medium cows 2 00® 3.00 Good Cows 3.00® 4 (H) Good heifers 5 s*)® 700 Medium to good heifers 4.00 8 5.00 SIIECF AND LAM HR. Ewes 2 00® 3 50 Bucks 1.50® 2.50 Choice ewes and wether lambs B.oo® 900 Seconds 6 00® 7.00 Ruck lambs 5 50® 0.50! Cull lambs 2.00(8 4.00

Other Livestock

CHICAGO, Sept. 19. Hogs—Receipts, 29.000: market mostly 104; 15c higher; bulk. $6 [email protected]: lop. $8.75; heavyweight, $7.75® S.t'iO: medium weight, [email protected]: light weight. $8.2548.75; light lights. $7.85 ®.40: heavy packing sows, smooth. $685 417 40; packing m>ws, rough, $6.50® 6 85; pigs. s7®B. Cattle—Receipts, 24,000; market steady to 23c lower; calves, 25® 50<- lower. Beef Steers—Choiee and prime, $8.75® 10.50; medium and good, 16.35®!) 13 ; good and ehoijn*. $8.35® 10 75 ; common an<j medium. $54X8.35. Butcher Cattle- Heifers $4.25®9; cows $3.50@7; bulls. $:i.75®6.50. Canners and Cutters— Cows c-I heifers, $2.35®3.50: cantipr steers, 75®3.50: veal calves (light and hnndyw Ight), $.850® 13.50: feeder steers. $5®7.23; stocker steers. $4®6.75; stocker rows and heifers, s3® l 75. Sheep —Receipts, J 2.000; market, fat lambs 25@50c lower; fat sheep and feeders steady: lambs (81 His. down), s.s®qo.lO; culls and common. $5.25®y 75: yearling wethers, $5.23® 7.73: ewes, s:i®s; culls anti common, $24-12 75; I.reeding ewes, $3.23®6.50; feeder lambs, $3,734; 7.30. CINCINNATI. Sept. 19 -Hogs Receipts, 5,500; market strong to 2f>o higher: heavies. s*@B.7s; mixed, mediums and lights. $8.75: pigs. $7.25; stags. $3®3.25; roughs, $6.50. Cattle Receipts. 4,000; market steady to 23c lower; bulls slrong; calves, sl4. Sheep and lambs—Receipts, 2,600; market steady: ewes, $1®8.50; bucks, $2; lambs. 50®75c lower; choice lambs, $8.50; seconds, so® 6.30; culls. s3® 4. CLEVELAND. Sept. 19 - Receipts 5.000; market, steady; yorkers, $8.85; mixed, $8.85: pigs. $.8,50; roughs, $6.25; stags, $4.25. Cattle—Receipts, 1,100; market, lower; good to choice steers, SB4; 9; good to choice heifers, so® 7; good to choice cows, $4®4.50: fair to good cows, s4®s; bulls, $34/4; milchers, $354/75. Nneep and lambs—Receipts, Receipts. 2,500; market, lower; top, $9.05. Calves—Receipts, light; market, steady; top, $14.50, EAST BUFFALO, Sept. 19.—Hogs - —Receipts, 1,600: market, active; vorkers. $8.5 ®!; pigs, $8.75; mixed, $9 heavies. $8.15®,.8.75 ; roughs, $5.50® 6; stags, $1.50 ®5. Cattle —Receipts, 2,375; market, slow; shipping steers, $84(9.75; butcher grades $775®5.75; holers, $5®7.50; cows, $1.50®0.50; feeders, $3®5.75; milk cows and springers, s4s® 135. Calves- Receipts, 2,000; market, active; cull to choice, ss® 15. Sheep and lambs -Re ceipts, 1,500; market, active; choice lambs. sll% 10.25; cull to fair, [email protected]; yearlings. $6®7.50; sheep, $2®5.,5<). EAST ST. LOUIS, Sept. 19. Hogg—Receipts. 8,500; market, 15 to 25c higher; mixed and batchers, [email protected]; good heavies, [email protected]; roughs, $5.25® 6.50; lights. $8.50®8.65; pigs, $7®8.25; bulk of sales. $8.40®5.70. Cattle—Receipts, 12,000; market., lower; native beef steers. $84(9; yearling steers and heifers, SB4/9.75; cows, $4.254;.5.75; stockers and feeders, $3.50®, 5; calves, sll® 11.30; canners and cutters. $2,254; 2.35. Sheep mid lambs—Receipt s, 4,000; market, lowdr; mutton ewes, s3® 4; lambs, SS@O; canners and choppers, $1.50@2. PITTSBURGH. Sept. 19.—Hogs—ReA ceipts, 8.500; market, steady; prime heavies, $8.50® 8 60: mediums. $8.75®8.90; heavy yorkers. $8.75®8 90: light yorkers, [email protected]: pigs, [email protected]; roughs, ss® 6.50; stags, $4®4.50; heavy mixed, $8.50® 8.75. Cattle—Receipts, 2,600: market, lower: choice cattle. $8,254(8.75: prime, sß® 8.50; good. $7.504i8: tidy botchers. $7.25(3)7.75: fair. $6.75(0)7.25; common, $5.75(0)6 75; common to good fat bulls, $2 50 33 50; common to good ftit cows, $4(85.50; heifers. $6 75(3.7.25; fresh cows and springers, $301085: calves. $6®;i4.59. Sheep and lambs—Receipts, 7,000; market. steady; prime wethers, $4.00@5; good mixed, [email protected]; fair mixed, $3.25® 3.75: culls and commons, sl@2; choice lambs, $lO. INDIANAPOLIS PRODUCE. Butter —Local dealers are paying 39® 40c per II). for butter delivered in Indianapolis. Eggs—Loss off. 304; 32c. Butter Pnofe. ing stock. 17®18c. Poultry—Fowls. IS® 24c; springers, 22® 25c; cocks, lo@l2c young hen turkeys.'B lbs. up. 33c: young tom turkeys, 12 lbs. up, 35c; old torn turkeys, 30c; cull thin turkeys not wanted; ducks, 4 lbs. and up, 15@16c; spring ducks, 3 lbs. and up, 16c; geese, 10 lbs. ond up, lOtgllc; squabs, 11 lbs. to the dozen, $4.50. Butterfat —Local dealers are paying 37c per pound for butterfat delivered In Indianapolis.

WHEAT AND CORN SUSTAIN GAINS Oats Suffer Reactions, Due to Increases in Supply. CHICAGO, Sept. 19.—Wheat and corn prices went higher on the Chicago Board of Trade today, following receipt of news that the export demand was picking up. Reports of unexpected increase of the visible supply of oats caused a slight reaction in that grain. Provisions were irregular. September wheat opened at $1.2414, up %e and closed up lc. December wheat opened at $1.26, unchanged, and closed up 2c. May wheat opened at $1.30%, up lc and closed up l%e. September corn opened at 54%e, unchanged, and closed up %c. December corn opened at 52%c, unchanged, and closed up %c. May corn opened off %c at 57%c and closed’up %c. September oats opened at 36%c, up %c, and closed off 2%c. December oats opened at 38%c, off %c and closed unchanged. May oats opened at 36%c, off %c and closed off %c. (By Thomson & McKinnon) Sept. 1.9 Wheat—There has been a modest revival of confidence by those who believe in higher prices, because of the estimate by the department of commerce of exports of wheat qnd flour during August being 67,000,000. This total is larger than any one had anticipated and is questioned in some quarters. However. whether correct or not, it simply confirms previous reports of foreign demand and has, therefore, lost its force as a market factor. The appearance of new business is more vital than a rehearsal of previous transactions. The foreign demand is not only slow, but is taking more Manitobas than United States. There certainly is no scarcity in immediate supplies, as evidenced by the increase in the visible supply, the fact that the total is above an average, and by sales to go to store instead of for shipment. We still feel that an actual scarcity of wheat in this country must be experienced before the market will make permanent response to theories of exhaustion; as yet, there is no scarcity. Corn and Oats—The offerings of corn and oats by the country remain light, but this is overcome by a withdrawal of the exporl demand and cancellations of some previous purchases by the United Kingdom. The visible supply bas made another increase, which in itself exemplifies the comparatively poor outlet for either corn or oats. We feel that these markets will drag whenever wheat weakens. Provisions Large exports gave strength to the provision list, and there was at no time any excess offerings. Cash trade, domestic and foreign, is generally quiet. CHICAGO GRAIN TABLE. -Sept. 19— WHEAT— Open. High. Low. Close. Sept 1.24% 1.26 1.24 1.25% Dec 127 1 28% 1.26 1.28 May.... 1.30% 1.32 1.29% 1.32 CORN— Sept 52% .52% .52 .52% Dec 52% .53 .52% .53 May 57% .57% .57% .57% OATS— Sept 36% .36% .33% .36 Dec 38% .38% -37% .38% -Mar 42% .42% .41 .41% PORK— Sept ... 15.50 18.50 18.50 15.50 LARD—•Sept 11.00 Oct .10 90 11.07 11.90 11.07 Jan 9.75 9.80 9.70 9.M) RIBS - •Sept 7.85 Oct 7.85 7.85 7*5 “ *5 .Tun 8.25 8.30 8.25 8.25 •Nominal. CHICAGO CASH GRAIN. CHICAGO, Sept. 19.—Wheat—No. 3 red, $U2.:® 1.20% ; No. 4 red. $1.20® 1.22; No. 2 hard winter. $1.25(01.25%; No. 3 hard winter, $124%. Corn—No. 2 mixed. 53® 53% 1'; No. 2 white, 53®53%c: No. 2 yeib,w. 53%®.54c: No 3 mixed. 52%c: No. 3 white, 52%® 53c : No. 3 yellow, 53(53%c; No. t mixed. 52%®52%c; No. 4 yellow, 51 %®52 I *><\ Oats -No. 2 white. 37<g390: No. 3 white, 35%® 36c; No. 4 white. 32% ®34%c.

TOLEDO GRAIN FRICEE. TOLEDO. Sept. TO—Wheat—Cash, $1.29; September. $1.29; December, $51.35: May, $1 41. Corn—Cash. 56c to 57c. Oats— Cash. 40®41c. Rye—Cash, $1.02. Barley —Cush, 64c. . PRIMARY KIBRETS. (By Thomson A McKinnon) —bept. 17— Receipts— Wheat Corn Oats Chicago 135,000 506.000 232,000 Milwaukee .. 11.000 St.OOO 151.000 Minneapolis.. 655.000 40.000 135,000 Duluth (W 7.000 44,000 71.000 St I.oais 174.000 91.001) 92,000 Toledo 34.000 23.000 21,000 Detroit 6.000 12.000 8.000 Kansas City.. 325.000 9.000 14,000 Omaha 121,000 65,000 28.000 Indianapolis.. 10.000 66.000 40,000 Totals 2.118.090 1,207.000 792,000 Year ago. 1.549,000 620,000 1.042,000 —Shipments Wheat Corn Oats Chicago 113.0< S) 253.000 53,000 Milwaukee .. 8.000 4.000 54,000 Minneapolis .. 199.000 25,000 79.000 Duluth 387.000 80.000 St Louis .... 167.000 26,000 66,00<> Toledo 4.000 1.000 2.000 Kansas City.. 355.000 23,000 5,000 Omaha 125.000 41.000 30.000 Indianapolis.. 4,000 3,000 38.000 Totals 1,560,000 870.000 374.000 Year ago... 782,000 292,000 402,000 —Clea ranees — Domestic W Corn Oats New Y'ork .. 60,000 Philadelphia.. 35.000 43,000 INDIANAPOLIS CASH GRAIN. —Sept. 19Bids for car lots of grain and bay at ihe inll of the Indianapolis Board of Trade were: Wheat—?irm; No. 2 red, $1 35(0,1.37. Corn—Easier: No. 2 white, 54@55c; No. 8 white, 52%@53%c: No. 2 yellow, 53® 54c; No. 3 yellow, 52®53c: No. 2 mixed, 52'i®53%e, No. 3 mixed, 51%@52%c. Oats—Steady: No. 2 white, 86@36%c; No. 3 white, 34@35<\ Hay—Slow; No. 1 timothy. $17.50@18; No. 2 timothy, [email protected]; No. 1 light clover mixed. $16,511® 17: No. 1 clover hay, $10.50® 17.50. —lnspections Wheat —No. 2 red, 3 cars; No. 3 red, 4 cars; No. 5 red, 1 car; sample, 2 cars; total. 10 cars. Corn—No. I white, 4 cars; No. 2 white, 12 oars; No. 3 white, 3 cars; No. 4 white, 2 cars; No. 6 white, 1 car; No. t yellow, 13 cars; No. 2 yellow, 12 cars; No. 4 yellow, 1 car; No. I mixed, 3 cars; No. 2 mixed, 6 cars: No. 3 mixed, 4 cars; ear, 1 car; total, 62 cars. Oats —No. 2 white, 1 car; No. 3 white, 31 cars; No. 4 white, 10 cars; sample white. 2 cars; No. 3 mixed, 2 cars; total, 56 cars.

HAY MARKET. The following are the Indianapolis prices for hay by the wagon load, delivered. Hay—Loose timothy, old, $19@21; mixed hay, new, $17(318; baled hay, old, $18@20; new. $17@19. Oats—Bushel, new, 30<335c. Corn —New, 60@62c per bushel, WAGON WHEAT PRICES. Indianapolis flour mills and elevators today are paying $1.25 for No. 1 red winter wheat; $1.23 for No. 2 red winter wheat and according to test for No. 3. Oats are quoted at 30c for No. 3 white or better. CLEVELAND PRODUCE. CLEVELAND. Sept. 17.—Butter—Extra in tubs. 47@47%c; prints, 48@48%0-extra extra firsts, 46@40%c; firsts. 45@45%, seconds. 36@36%c; packing stocks, 21® 28c. Eggs—Fresh gathered northern extras. 40c: extra firsts, 39c; Ohio firsts, new cases, 35c; old cases, 34c; western firsts, new cases, 33c. Poultry, live heavy fowls, 27c; light fowls, 20@21c; roosters. 15c; broilers, 24<g25c; Live ducks, 20®25c. BOY AVENGES FATHER. SYDNEY. N. S. \V., Sept. 19.—Ernest Dowling, 18 years old, will plead the unwritten law when arraigned for killing Eugene Duff. He told the police that while hie father was away Duff was too friendly with his mother. The boy Kbot Duff to death to protect hie father s honor.

In the Cotton Market

NEW YORK, Sept. 19. —An accumulation of buying orders gave the cotton market a firm undertone at tho opening today, first prices moving up from 30 to 38 points. The demand seemed to be quite general and Included buying by Wail Street, Japanese Interests and Liverpool. One the other hand, some houses with Southern connections, were good sellers. At the end of the first fifteen minutes the list was a trifle easier under pressure, but ruled about 20 points over Saturday's close. New York cotton opening; Septembe*, 18.50 c offered, October 18.50 c; December, 18.90 c: January, IS.SOc; March, 18.80 c; July, 18.25 c. The market was strong throughout the last hour and closed at a net advance of 125 to 142 points. LIVERPOOL, Sept. 19. —There was good inquiry in spot cotton at the opening today. Prices were eaater and sales close to 15,000 bales. American middlings fair, 15.75d; good middlings, 14.05d ; full middlings, 13 35d; middlings, 12.90d ; low middlings, 1190d; good ordinary, 10.85d; ordinary, lfflOd. Advertising Club Wishes U. S. to Stop Building Warships In accordance with action taken by the executive committee of the Advertising Club of Indianapolis the following suggestion relative to disarmament has been made to members of the club by Briant Sando, president, and the suggestion will be printed in this week's issue of “Adscript,” the official puLlication of the club; “Write to the President of the United States, write to your Congressman or to your Senator, and say substantially this: “ ’lt is myTequest, as a taxpayer and a citizen, that the November conference v>n disarmament be opened with a concrete proposal on the part of America to the building of warships. “ ’I feel, further, that as a citizen and as a taxpayer, I have the right to know everything that is said at the conference, and I believe, therefore, that its deliberations should be open so that all people have the right to see and hear and Judge.’ "The conference must not end without having made a substantial beginning at lifting the world's heaviest burden.” Boy Slayer Prays to Be Executed • TERRE HAUTE, Ind.. Sept. 19.—“ Have them send me to the chair—l don't want to live!" Roy Parse, admitted murderer of his 17-year-old sweetheart, wrote the dead girl’s father a few hours before the funeral. Parse, who Is 16 years old, declared he would kill himself if he were not executed. In his confession he said he "killed Louisa’ because he loved her.” Marriage Licenses Henry Myers, 830 Marion avenue 30 Fleeta Wilson. 2405 Brookside av 21 Paul Hesser, 614 Liberty 22 Leah Sears, 1506 Roach st 20 Ruth Sparks, 1118 N. Mount st 21 Maude Hanes, 12_W. Ritter av 18 George Fondersmtih, 1639 Hodgen st.. 46 Ona Barrett, 732 Woodlawn av 46 Richard Ross. 2942 Ruder st 22 Mary Hardesty, 1029 W. Thirty-Sixth. IS Oscar Chinn, 2257 Brookside av 21 Dolia Moshier, 24 S. State av 36 Otto Inman. 933% Virginia av 37 Mamie Smith, 5629 Bonna st - 20 William Beck, Palestine, 111 22 Margaret Schmidt, 1411 S. Alabama st. IS Edward Meredith. Rushville, Ind 22 Margaret Michaeiis, 1138 Parker av.... 18 Emanuel Roskin, 524 Middle drive, Woodruff Place 34 Rachel Green, 144 N. Arsenal av 32 Dudley Condit, 1923 Park av 22 Mabel Bennett, 1923 Park av 20 Millard Arnold, 723 Laurel st 20 Martha Lyzott, 905 Prospect st 18 John Lee, 3332 Graceland av 55 Stella Hill, Ciaypool Hotel 40 Albert Matthews 764 E. McCarty at.. 24 Hazel Nation, 570 W. Morris st 21 Joseph Golob, Kokomo. Ind 35 Helen Gosteonik, 761 Haugh st 20 Theodore Judkins, 3811 E. Eleventh st. 18 Mary Lowe, 17 N. Beville av 19 John Praproinck, Kokomo, Ind 30 Anna Ceplak, 927 N. Wurman av... —. 30

Births Walter and Olive Clark, 1226 Shepard, toy. Allen and E<hia Cornell, 1336 N. Illinois, boy. Chris and Martha Moore, 1751 Morgan, boy. Nicholas and Alvin Werner, 1815 Jones, girl. Elratus and Jeannette Gough, 415 S. Harding, boy. James and Elizabeth Morris, 2830 Indianapolis avenue, boy. Pete and Pearl Miller, 303 N. New Jersey, boy. George and Elizabeth Ruekrschneck, 1311 Linden, girl. Elbert and Ruth Cliarper, 2330 Nowland, girl. Walter and Beulah Walters, 2430 Ralston, girl. James and Cora Long. 53S E. Ohio, boy. David and Leota Osborne, 726 S. Capitol boy. Herbert and Mary Thompson, 2805 W. Michigan, girl. Lee and Martha Barnett. 91S Hadley, boy. Sesler and Josie Jeters, 959 N. Traub, loy. George and Elizabeth Bowles, 1525 E. Tabor, boy. Walter and Katie Sutphin, 618 Livingston, boy. Elsworth and Helen Davidson, 927 W. Thirty-First, boy. Frank and Eva Roberts, 1150 N. Holmes, boy. Vesta and Helen Bradshaw, 1635 N. Arsenal, girl. Henry and Florence Harris, 1937 N. Adams, girl. John and Anna Kennelly, St. Vincent’s Hospital, boy. Robert and Dorothy Bosson, St. Vincent's Hospital, girl. James and Frances Murphy, St. Vincent's Hospital, boy. Frederick and Vioclan Rosebroct, 1117 Pleasant, boy. John and Marie Hatfield, 2615 Koehne, boy. Russell and Ruth Faucett, 316 S. Sherman, girl. Louis and Hannah Myers, 619 N. Noble. girl. John and Edna McDennet, 1002 Eugene, girl.

Deaths Mattie Emons, 52, 721 Blake, gangrene. Olga Binnlnger, 10, 730 East Minnesota, diphtheria. Ida Pauline Phippa. 4 months, 230 Miley, acute ileocolitis. Kenneth Cecil Reeves, 17 days. 24 South Cnthorwood. acute gastro enteritis. Margaret M. Hardy, 36, 1230 South Keystone, enteritis. James W. Miles. 76, 1246 South Belmont. chronic myocarditis . Infant Gantner, 1 day, 1729 South Delaware, premature birth. Alonzo Leroy Sowers. 71. City Hospital. acute parenchymatous nephritis. Emnrti Cline, city hospital, acute parenchymatous nephritis. Kenneth Melton Leonard, 1 month, 1149 Olive, broncho pneumonia. Catherine Pease, 79, 8029 North Illinois, mitral insufficiency. Jessie B. Tucker. 65, 2333 North La Salle, pulmonary tuberculosis. Harold Bailey, 6, 2725 Baltimore, septicaemia. Ethel Larkin, 24, city hospital, acute myocarditis. gamins amuse queen. LONDON, Sept. 19—While QueenMother Alexandra was motoring through the poorer section of London, she was delayed by a puncture. Gamins surrounded the car and amused the Queen by their ant'es. One threw her a flower and she threw him a L:i,

WORK AND LOW WAGES ON RHINE GET CUT PRICES Germans Able to Compete With World Because of Borrowed Capital. WARNING TO AMERICA Special to Indiana Daily Times and Philadelphia Public Ledger. By C. B. EVANS. CHICAGO, Sept. 19. —Out of the reports of tourists who have returned from Germany, Americans get much valuable information of affairs in that distressed country, but the conclusions they draw therefrom are not always logical or in accordance with facts. All the way along since Europe created an Inflated paper currency It has been thought that that part of the world had an advantage over the United States for that reason. Indeed, some of the British statesmen have been quoted as taking that view. It has been said that the advance in prices caused by this inflation prevented imports into the Inflated countries and by so much conserved the resources of people. This doubtless has teen an ad-* 1 vantage in the way of curtailing the consumption of luxuries by Europeans, but the merchandise that they get from the United States does not consist of luxuries in the main, but of raw materials which are needed in the manufactures. The old processes could not go on and. wealth In Europe Increase without such material. Stopping or curtailing trade Is not commonly considered a method of enriching the people. Germany has been held up to us as the most striking example of the tremendous advantage of cheap and demoralized exchange, but if one looks just a little way under the surface he can see that it is not a bad currency, not a segregation of Germans from the United States, that has caused revival of industry, but work pure and simple. Cheap money has little to do with the matter, for that money must be converted into the world unit at great cost to the holders of the paper. It is the testimony of all recent investigators in Germany that, under the coercion of necessity, the people are working as even Germans never worked before. Moreover, they are willing to work for almost any wage they can get, however small, and by as much as these wages are lower than those of other countries by so much can they compete successfully la the world markets. MARK HAS LOW VALUE.

Tt is claimed, too, that the low valna mark does not injure the Germans themselves, inasmuch as this unit is simply a t ken used as a means of keeping the record of transactions, almost like a book of accounts. It is well known, however, that such money tends constantly toward the valuation set on it by the world market, and this we have seen well Illustrated in the recent decline of this unit even for purposes of the home trade. Naturally the more there is of it the ltss will a given portion of it buy. An Inflated paper currency is had, nothing but bad, for all concerned. The Germans are too good bankers to have chosen this device as an economic resource; they were simply driven to it. There was possibly some other method, but this seemed to be the nearest to hand. : When a man is “hard up” he borrows ' from a friend. The Reichsbank has bor- ! rowed from the public and the indebtedness has been growing constantly till it has passed eighty billion marks. Nobody has yet been able to say how this money will be redeemed and repudiation Is frequently mentioned as the only resort. though what next would be the money source nobody is able to tell. And probably repudiation would mean revolution. That Germany is new put to its trumps to pay one of the earlier installments of the reparations is an evidence of desperate straits. The device of mortgaging private industrial properties ini selling the bonds in other countries is a recognition of this condition. That would doubtless mean eventually, if ihe bonds found sale, the acquisition of large Fertl° ns of German property by foreigners and would be one way of taking over the country of a defeated power by the victors. Nor is Germany as a going concern worth what it once wa*. Its valuation before the war was eighty billion dollars. Hardly could one appraise it at forty billion now, and the reparation claims amount to thirty three billion. It is work, not pappr money, that gives Germany the superficial appearance of prosperity, but work is too slow a process to meet the demands of the, powers. The relentless creditor is overtaking the debtor, and one does not like to contemplate the probable consequences. Business in this country should take due notice.—Copyright, 1921, by Public Ledger Company.

Junior C. of C. After Membership of 1,000 The silent orator on tfca Merchant* Light and Heat Company's building will carry a message in behalf of the Junioe Chamber of Commerce, beginning to* night, as follows: “Young men owe definite duties to Indianapolis. Join Junior Chamber ot Commerce during present membership drive and affiliate with agency or Pdfsonal civic service and training school for future leaders. One thousand new members our goaL George A. Stafford, campaign director.” Beech Grove Cop Is Disarmed at Game A crowd at a baseball game between the Trojans and Beech Grove at Beech Grove Sunday afternoon effected the entire police department of Beech GroTe. Marshall O. H. Rogers was disarmed of his club and revolver, J. L. Mendenhall, bis assistant, and another officr were beaten when they attempted to arrest a man who had refused to step back from the base line. The man was rushed from the ball park by his friends *n4 the officers sent in an S O S call to the Indianapolis police department in the shape of a riot call. By the time the emergency squad reached Beech Grore the battle was over. Bakers’ Convention Will Start Reform CHICAGO. Sept. 19.—Improvements and reforms in the baking industry are to be planned at the convention of the American Association of the baking lnduatry, which opened here today. More than one thousand bakers are in attendance. Standards of cleanliness for all baker* will be outlined and an Inspection aervice started to enforce the standard upon all members of the association. Effort* will be made to eliminate, unfair trad# practice*.

DOVE BRAND HAMS fWjM A YOU CANT FORGET