Indianapolis Times, Volume 34, Number 117, Indianapolis, Marion County, 26 September 1921 — Page 10

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STOCK MARKET GROWING MORE ENCOURAGING Reduction in Money Rates and Steel Improvement Are Examples. RAILS SHOW EARNINGS Special to Indiana Dally Times and Philadelphia Public Ledger. By MONITOR. NEW YORK, Sept. 26.—Price movements In the stock market In the last week have reflected the hesitancy of most operators to enter into extensive engagements or to commit themselves to any big turn. In fact, the only significant tendency has been in the Investment division, where bonds have been reflecting the stimulating influence of cheaper money, both for short and long maturities. Just when this factor will express itself in the so-called speculative issues is dependent on the improvement in industry and general business. Although the situation still abounds with cross currents the dominance of the encouraging features Is becoming more pronounced daily, while those of an unfavorable character are losing some of their potency. Among the former Is the reduction rate by the Federal Reserve banks. So far as the speculative position of the market is concerned, this is not a factor of prime importance, but It should continue to have a further stiffening influence cn investment Issues, particularly Liberty bonds. From a business standpoint, the more hopeful turn in the steel industry seems to be more clearly related to the economic requirements of the present situation. Operations are on a scale of 30 per rent over July as a result of new orders for sheet steel and wire products. DYE TO CITS RATHER THAN' INCREASED TRATEI. The improved showing of railroad earnings in August may be set down rather to reduction in operating expenses than to any increase in traffic. Nevertheless. the statements of Union Pacific, Southern Pac sic and Kansas City Southern indicate that the extensive economics have been sufficient to enable the carriers to show comfortable earnings despite the relatively low gross. This is evidently a tendency that will be displayed by most railroad statements. With the possible exception of some Southern lines. If, in conjunction -with this demonstration of the heneflcl.il effects of managerial economics, the Government should make ils settlements with the roads and furnish them with funds, the favorable reaction on the steel and equipment companies might be most pronounced. 3he strength of the Mexican bonds, notably 5,’, reflects the hopeful attitude in reference to our relations with the Southern republic. Recognition of the Mexican regime undoubtedly would be the signal for widespread industrial activity south of the Rio Grande. The effect on the oil industry would be marked, mining operations would be on an enlarged scale, and the development of the splendid agricultural regions adjacent to the line of the Southern Pacific in northern Mexico would rnmn a great deal to the world’s production of raw material. Other factors in the situation of an encouraging nature consist of Increased production in the textile Industry and th'v'—node rate upward tendency in romJSfodlty prices, the sole ex.-eption being cotton, which, of course, has had a sensational advance as a result of the admitted crop shortage. Os course, if commodity prices should rise to an extent that buyers would be induced to halt in their off take, the effect would not be beneficial. At present, however, the price gains merely serve to relieve the position of certain groups of producers, giving them Increased purchasing powa>r and enabling them to Improve the'r financial position. EUROPE NOT IN' SHAPE TO BUY. Such favorable factors as these are offset to a certain extent by extensive unemployment and the unsettled European economic and flnancinl conditions. Former Postmaster General Rurleson arrived from Europe at the end of this week with a rather lugubrious tale. He had been

delegated by a group of southern cotton producers to sell a lot of cotton abroad. Upon his return, he confessed his failure which he xvas inclined to attribute to European Inability to buy. There Is another side of this story, however. Experienced cotton merchants are able to do business with European cotton consumers, and transactions of late have been on n very large scale. Consequently, Mr. Burleson’s statement may be more an admission of personal disappointment than a reflection of actual conditions. In spite of the interplay of favorable and unfavorable elements in the situation, tlse country, and the world, too, for that matter, must make up Its mind to the certainty that the process of readjustinent Is going to eliminate a great many units In production and distribution that were the mushroom growth of the war and the boom period Immediately following. Hundreds and even thousands of concerns embarked in manufacturing or other activities without experience, capital or established connections, and for a time piled *tp large profits. They are being gradually eliminated, and this process of elimination extends even to certain minor Industries. The situation will be no worse for this weeding out as the world evidently is entering an epoch where only the fittest are entitled to survive. So fur as speculative sentiment is concerned. there is a disposition to regard the outlook as greatly coufused. Those who are now operating in the market believe that risk is minimized by the purchase of the shares of well managed railroad companies and standard Investment Issues. In other words, there Is a tendency to play safe, and this policy appears to be justified under the circumstances. —Copyright, 1921, by i’ubllc Ledger Company.

In the Cotton Market

NEW YORK. Sept. 26.- —Initial quotations were firmer at au advance of 14 to 23 points at the opening of the cottou market here today, aided by strong cables end unfavorable weather 'in the central belt, where too much rain was report*! ever Sunday. Japanese interests, the South and Wall street sold on the opening call. Spot houses and Liverpool were purchasers. Heavy notices at New Orleans broke October 5 points under the previous close, but the option immediately recovered and sold up 32 points. After the call, however, the list acted Steady and, at the end of the first fifteen minutes, was about 24 points net higher. New Y'ork opening cotton prices; October. 19.73 c; December. 20.20 r: January, 20.21 c; March, 19.95 c; Mav, 19.75 c; July, 19 38c. LIVERPOOL. Sept. 26.—There was a large inquiry at the opening of spot cotton this morning. Prices were steady and sales close to 20.00) bales. American middling fair. 17.74d: good middling. 16.04d; full middling 15.34d; middling. 14 84d; low middling. 13.74d; good ordinary, 12.69d; ordinary. 11.94d. Future* opened steady. NEW YORK METAL MARKET. NEW Y’ORK. S"pt. 26.—Copper—Quiet; spot, September. October and November Offered, 11%0. Lead—Steady: spot, September and October offered, 4.80 c. Spelter—Firm: spot, September and October offered, 4.35 c.

N. Y. Stock Exchange

—Sept. 24. High Low Close Close Allied Chem 47% 45 40% 44% Allis-Chalmers.. 34 33% 83% 84 Am. Agri 85% 35% 35V* *5% Am. Hide A Lea. 51%, 51% 51% ..... Am. Can 27% 27% 27% 28 Am. lnt. Corp.. 38 32% 83 33 Am. Loco 91 90 90 90% Am. Smei. & Ref 37% 86% 36% 36% Am. Sug. Ref 62 62 62 62% Am. Sum. Tob.. 42 40 % 40% 41-a Am. Tel. & Tel. 107% 107% 107% 107% Am. Tob 125% 125% 125% 125% Am. Woolen 75% 75 75 % 75% Atl. Coast Line 88 87% 87% 87 Anaconda C 0.... 38% 38% 38% 88 Atchison 86% 86% 86% 86% Atl. Gulf W. 1. .. 28% 27% 27% 28% Raid. Loco 89% 87% 88% BS% B. & 0 39% 39% 39% 39% Beth. Steel tB).. 65% 55 65 % 55% Cali. Pete 87 36% 36% Can. Pac. Ry. . 114% 113% 118% 114% Cent. Lea 28% 98% 28% 28% Chand. Mot 43% 43% 43% 43% C. & 0 56% 58% 56% 07 Chi, Mil & St. P. 20% 20% 26% 26% CMSTP. pfd. .. . 40% 40% 40% 40% C. &X. W 68% 68 68% 68% CRI&P. 34% 34% 34% 84% ORIAP (,% pfd. 66% 66% 60% 6e% CRI&P 7?c ?fd. 78% 78% 78% 78 Chili Copper ... 10% 10% 10% 10% Chino Copner.. 23% 23% 23% 23% Coca Cola 34% 34% 34% 34% Col. Fuel & 1... 24% 24% 24% Columbia Gas.. 00 57 % 00 37% Columbia G... 4% 4% 4% 4% Consolidated G. 88% 88% Bb% SS% Continental Can 42% 42% 42% .... Cosden 0i1... 26% 25% 25% 20% Corn Products. 76% 76% 70% 76% Crucible Steel . 64% 63% 64 C3% Dei. & Lack... 108% 108% 108% Endicott 15 64% 64% 64% Erie 13% 13% 13% 13% Erie Ist pfd 19% 19% 19% 19% Famous Plav.. 54% 54 54% 54 Fisk Rub. Cos.. 10% 10% 10% 10% Gen. Asphalt.. 51% 50% 50% 51% Gen. Electric.. 124V* 123% 124'* 125% Gen. Motors 10% 10 10% 10% Goodrich 32% 52% 32% 32% Gt. North, pfd. 74% 74% 74% 75% Gulf St. Steel.. 40 39% 40 39% Illinois Cen 96% 98% 93% 96% Inspiration Cop. 34V* 34% 84% 34 lnterboro Corp. 2% 2 2% 2 Invincible Oil.. 8% S% 8% 8% inter. Harvester 76’* 79% 79% 7S\ Inter. Nickel... 14 13% 13% 14 Inter. Paper 51% 50 50% 00% Island O. &T. 2% 2% 2% 2% Kan. C. South. 26% 26% 26% 26% Kell.vS. Tire.. 42% 41% 41% 42% Keunecott Cop. 20% 20% 20% 20 Lehigh Valley.. 54% 54 54 % 63% Lee Tire 26% Loews Inc 14% 34% 14'* 14% Marine com 94* 9% 9% 9% Marine pfd 46% 45% 40 45 Maryland Oil .. IS% 17% 17% 18 Mont. & Ward. 18% 18% 18% 18% Mex. Pet 103% 100% 101 % 108% Miami Cop 21 21 21% 21% Mid. States OH. 11% 11% 11% 12 Mo. Pac 20% 20% 20% 20% Mo. Pac. pfd ... 41% 40% 40% 40% Nat. E. & S .... 37 37 37 37% Xev. Con. Cop .11 10% 11 11 X. T. A. Brk.. 56% 56% 56% X. V. Cent 73% 73% 73% 73% New Haven .... 15% 15% 15% 14% No. Pac 79 73% 79 78% Ok. P. A R. Cos. 1% 1% 1% 1% Pac. Oil 33% 33% 38% 35% Pan-Amer. Pet.. 4S 46% 47 48 Penna Ry 39% 38% 30% 80 People's Gas ... 52V* 51% 51% 53% Pierce Arrow .. 12% 12 12 * 12% Pull. Pal. Car.. 93% 93% 93% 93 Pure Oil 24% 24% 24% 24% Reading 73% 73 73 73% Rep. 1. A S 53% 52% 52% 52% Roy. D. of X. I'. 43% 43 44’* 47% Sears Roe 68 68 68 69 Sinclair 20 19% 19% 20 South. Pacific... 81% 80% 80% 80% Southern Rv .. 21% 21'* 21 % 21 St. L A S \Y.. 24% 24% 24% 24 Std. Oil. N J.,.135% 133% 135% . St I, AS. F com 24% 24% 24% 24% Studebaker 74% 73% 74% 74% Tenn, Copper... 8% S 8% 8 Texas Cos 36 85% 35% 35% Texas A Pacific. 23% 23% 23% 23% Tobacco Prod.. 67% 66% 67% 60% Trans. Oil 7% 7% 7% 7% Unon Oil IS% 17% 17% 18% Union Pacific... 123% 122% 122% 122% Unld. Ret. Strs. 53% 52% 58 52% U. S. Food Prod 9% 8% y% 9% United Fruit 107% 107% 107% 107% 1 uited Drug 56 63% 55% 56% U. S. Ind. Alco. 47 47 47 47% U. S. Rubber... 40% 48% 49% 40% U. S. Smelting.. 32% 32% 32% 32% U. S. Steel 80% 79% 79% 80% Utah Copper ... 50% 49% Vanadium Steel. 32% 31 % 32% 32 Vir.-Car Chem. 29% 29% 29% Wabash Ist pfd 21% 21% 21 % 21% Wesths. Elec... 45% 45 45% 44% Willys-Overland. 6% 6% 6% 6% Worth. Pump... 31 41 41 40% White Ore 7% 7% 7% 7% West. Pac 24% 24% 24V* 24

NEW YORK LIBERTY BONDS. —Sept. 24. Prev. High. Low. Close Close Liberty 3%s 38.50 55.34 38.50 83.38 Liberty 2nd 4s 89.90 89.4s Liberty Ist 4%l 90.23 89.70 90 20 89.62 Liberty 2nd 4%5. 90.04 89.74 90 00 89..14 Liberty 3rd 4%5. 93.78 93.64 93.74 93 64 Liberty 4fb 4%s 90.30 89.96 90 34 89.^8 Victory 3%s 99.30 09 21 Victory 4%s 93 32 99.23 90.30 99.30 CHICAGO STOCKS. (By Thomson & McKinnon* —Sept. 24. Car. & Carb 4o Libby 7% 7% 7% 7% National Lea. e% 6% 6% 6% Sears Roebuck .69 Stewart-Warner .25% 25% 23% 25% Swift &Cos 94 94 93% 93% Swift lnt 22% 22% 22% 22% NEW YORK WOOL. NE YORK, Sept. 26.—00 l prices were firm in trade on the market here today, prices of the past week being main tained. NEW YORK rETKOEKUM. NEW YORK, Sept. 26—Petroleum was in good demand in trade on the market here today and prices were steady. Pennsylvania crude oil sold at $2.25 a barrel. NEW YORK HIDES. NEW YORK, Sept. 26.—Hides were firm in trade ou the market here today, native steer hides selling at 13%c Per pound and branded steer hides at 13c. NEW YORK RICE. NEW Y’ORK, Sept. 26. —Rice values were firm in trade on the market here today, domestic rice selling at 3%<0,7%c per pound. NEW YORK TURPENTINE. NEW YORK, Sept. 26.—Turpentine sold at 75c a gallon in trade on the mar ket here today.

Local Curb Market

(By Newton Todd.) —Sept. 26. Bid Ask American Hominy com 17 Brazil Sterling 4% 37% 38% Burdick Tire and Rubber.. 1% 2% Capital Film Cos % Central and Coast Oil 1% 4.* Choate Oil Cori. 1 -**4 Columbian Fire Ins. Cos 6 72 Comet Auto )% 2% Dayton Itubbear Unit* 61 70 Duesenberg Motor Units.... 58 68 Duesenberg Motor com 10 Elgin Motor Car 8% 4*4 Federal Fin. Cos. pfd 72 82 Fed. Fin. Cos. com 125 135 Gt. Sou. Prod. & Ret. Units 5% 7 Haynes Motor com us Hurst & Cos., pfd 45 65 Hurst & Cos., com 1 2 Indiana National Ban* 255 205 Indiana Rural Credits .... 48 63 Indpls. Securities prj 1% 2% Metro. 5-50 c Stores com 12 J 6% Metro. 5-50 c Stores pfd 30 85 Revere Motors % % Rub-Tex Units 17 21 State Savings A Trust Cos 89 93 Stevens-Duryea Units 66 65 U. S. Automotive Units .... 86 95 U. S. Mtg. Cos. Units 165 175 CHICAGO PRODUCE. CHICAGO, Sept. 26.—Butter —Receipts, 7.800 tubs; creamery extras. 43c; firsts, 33%@41c; packing stock, 23@24c. Eggs —Receipts, 8.260 caaes; current receipts. 34@360; ordinary first*, 31@32c; firsts. 37@38c; checks, 21@23e; dirties, 23@25<\ Cheese -Twins (new). 19%@20%c; dairies 20@21%c; Young Americas. 20%@21c; lenghorns, 20%@21e; brick. 19%@20c. Live poultry—Turkeys, 35c; chicken*. 23c; spring*, 21%c; roosters, 16c; geese, 20c; ducks, 24@26c. Potatoes-Receipt*, 103 cars; Minnesota Red Rivers and Chios, $2 [email protected] per 150-lb. hag; Idaho*. $2.35@ 3 45; Wisconslns. $2.35<g2.50.

RAILS TOUCH BETTER LEVELS Trade in Stocks Is Large— Mart Tone Steady. NEW YORK, Sept. 26.—The stock market showed a steady tone at the opening this morning, but soon after th start recessions occurred in most of the leading Issues. Trading, however, was not on a large scale. Mexican Petroleum started Vs of a point higher at 102 and then broke to 99%, while Studebaker, after opening unchanged at 74%, yielded to 73%. United States Steel showed a gain of % of a point at 80, and then yielded to 79%, while Baldwin Locomotive was V a of a point lower at 88 The rail stocks were fractionally higher. Union Pacific showiug a gain of % of a point at 123% and New York Central, showing a gain of % of a point to 73%. Royal Dutch started % of a point higher at 45 and then broke to 43%. (By Thomson A McKinnon.) —Sept. 24 At the opening of the market here to day there was a fair demand for stocks from commission houses and this was followed by a moderate demand from the local professional element, but there seemed to be no difficulty in satisfying the demand. The rails were again favored, but after the start the market turned dull, and then there developed a rather aggressive selling movement of Royal Dutch. ’1 his was followed by renewed pressure on Mexican Petroleum, and the entire market was adversely effected. The news of the day was satisfactory, especially the reviews of the commercial agencies. All agree that there is uoticabie business improvement, but in detail they have mentioned matters that have been discussed in these letters ou each day during the week. Special emphasis is placed on the improvement in the steel industry The improvement shown by the railroads is one of the very most encouraging market factors, and. while the gross busi ness of the roads must represent the gen eral state of trade in the country, the ability to curtail expenses and to improve the net results is what Is of the greatest importance at this time to the owners of railway securities. We can see a moderate increase in the public interest in the market, but it has not yet reached proportions of rouse quence. This will come later; probably after Congress has completed the important part of the administration program. Until then, we wLI most likely be favored with a market of increasing activity. CLEARING 110 l SE STATEMENT. NEW YORK, Sept. 26 Exchanges. $364,700,000; balances. $57,990,000. Federal Reserve Bank credit balances, $49,5(X),0 *J. TWENTY STOCKS AVERAGE. NEW YORK, Sept. 26. Twenty industrial stocks Saturday averaged 71.66, off 03 per cent Twenty setive ratls aver aged 70 81, off 09 per cent.

Money and Exchange

Indianapolis bank clearings today were $2.020,U00. against $2,030,000 for Monday of last week. NEW York Sept 26 Marks ton anew low level record today, falling 4% points to ,0087%c at tile opening of the foreign exchange market. The rest ts the list opened weak. Demand Sterling yielded %c to SR 73. I ran r>.se 4 centime* to 7 18%e for cable- and 7.17% for checks Lives declined - points to 4.14 c for cables and 4 13c fur , Belgian francs were 2 erntiun s lower at 7:07c for catties and 7.06 c for chi > ks. Guilder cables were 31.95 ; cln .s, . '.*.>•• Swedish cal les wore 22i ; eb< ks. 21 n ■ Norway kronen cables were 12 6 tv; • hecks. 12.55 c. Denmark kronen cubic* were 17.75 c; checks, 17.7(*v. NEW YORK BANK STATEMENT. NEW YORK. Sept. 24 AverageLoans; Increased, $32,002 .000; demand deposits, decreased. $43. IBh.,oh* time d.* posits, increased, $ 1.699(HX) ; reserve, dcreasecd, $1,434.tri0. Actual—Loans, in creased, $5,302,000: demand deposits, and creased. $68,110(010: time d-posits, in creased S2,uPS,dOO; reserve, decreased, $21,966,310. MOTOR SECT RITI I S (By Thomsom A McKinnon.) —Sept. 24 Closing— Bid. Ask Packard coni. . . 5% 5% Packard pfd 59% 6u% Peerless 3*% 39 National Motors 2 5 Paige Motors 14 .... ACTIVE Oil, STOCKS. (By Thomson A McKinnon.) —Sept 26 —Opening— Bid Ask Anglo American Oil . .. 1-c* 15 Atlnutie Refining u in Borne he r> tuner 325 350 Buckeye Pipe Line 7' 80 Chesebrough Mfg i.'ims. 115 15,5 Contlunental oil, Colorado lus 111 Cnsderi Oil and Gas 5 0 Crescent Pipe Linn . '2O 27 Cumberland Pipe Line 115 120 Elk Basin Pete 5% fit, * Eureka Pip eLine 70 73 Galena Signal Oil, prof 80 8.5 Galena Signal OU, com 33 34 Illinois Pipe Line 1M 1.54 Indiana Pipe Line 7t ~ts Merritt Oil 6% 7 Midwest (til ... 2% 2% Midwest Itefg 135 145 National Transit 25 26% New York Transit 143 147 Northern Pipe Line S3 87 Ohio Oil 225 229 Oklahoma P. A R 4 4% Penu Mex is 2ti Prairie t'il and Gas 450 450 Prairie Pipe Line iso 182 Kapulpa Kefg 33% Solar Refining 340 300 Southern Pipe Line 7o 73 South Penn Oil 104 pjs Southwest Penn Pipe Lines. . 52 50 Standard Oil Cos. of Ind 70% 71 Standard Oil Cos. of Kuu . 530 540 Standard oil Cos. of Ky. .880 391) Standard Oil Cos. of Neb . 145 150 Standard Oil Cos. of N. Y. 315 318 Standard Oil Cos. of Ohio 300 370 Swan A Finch 30 35 Vacuum Oil .. *}4o 50 Washington 01l ’, "os NEW YORK CURB. IBy Thomson A McKinnon.) —Sept. 24 —Closing „ . Bid. Ask. ( urtis Aero, com 1 3 Curtis Aero, pfd 15 First National Copper 50 go Goldfield '.'on 5 7 Havana ’i bneco t pHavana Tobacco pfd 4 g Martin Perry j 41 Jumbo Extension 2 4 International Petroleum 9% 10% Nipisslng 41 2 /r,Standard Motors 3% 7, Sinclair Gulf Oil 10 lii% Sait Creek 1% jli Tonopah Extension 1% 15 Tonopah Mining 11,* j% United P. S. new 13 p; j 1? U. S. Light and Heat 1% •> World Film 3 43 Yukon Gold Mine Cos 85 100 Jerome 20 21 Nw Cornelia 13 441* United Verde 23% 25 Sequoyah ? ' 5 Omar Oil $0 () Rep. Tire 1 25 Acme I’kg % Imp. Oil 7% .s' Texas Chief 0 8 NEW YORK RAW SV< ,\K. NEW YORK, Sept. 26. -Tr.-de in raw sugars was somewhat livelier , the ex change here today and prices hi id about tleady. Cubtis 6old at 4.61 e per pound, duty paid, while Porto Ricos were ouutyd at 4.25 c per / uud, delivered. NEW YORK REFINED SUGARS. NEW YORK, Sept. 26.—Refined sugars were in fair demand in trade on the exchange here today at steady prices. Re fined sugar was quited at 5.60(g.5.66c peil lb and No. 1 soft at the same figure. NEW YORK COFFEE. NEW YORK. SeptY 26. --Coffee prices were weak In trade off, the exchange here today, opening being 3 points higher to 4fi points lowto. NlO No. 7, ou spot, sold at 8c per polled.

INDIANA DAILY TIMES, MONDAY, SEPTEMBER 26, 19Z1.

New York Bonds

(By Fletcher-Amertcau Cos.) FOREIGN GOVERNMENT BONDS. —Sept. 24 Bid. Ask. i Arg. (Unlisted) ss, Sept. 1, ’45 04% 65 i Belgian 6s, Jan. 1, '25 95% 95% 1 Belgian 7s, June 1, '45 102% 102% Belgian Bs. Feb. 1, ’4l 101 101% ( ‘Belgian Rest ss, Opt., '34.... 63 67 Berne b's, Nov. 1, '43 100 100% Chile Ss, Feb 1, '4l %)S% 98% Chinese (H. R.) ss, June, 'sl 47 48 Christiania Bs, Oct. 1, '43....101 102 Copenhagen 3%a, July 1, '44 81% S2 Danish Mun. Bs, Feb. 1, '46. .102% 102% Denmark Bs, Oct. 13, '45 103 103% ‘Canadian 5%5, Dec. 1, '22.. 88 89% ‘Canadian 5%5, Nov. 1, '23.. 67 % 83% •Canadian 5%a, Nov. 1, '24.. 80% 87% ; ‘Canadian ss, Dec. 1, '25 84% 86 'Canadian ss. Apr. 1, '26.... 94 " 94)4 •Canadian 5%5, Dec. 1, '27.. 88 88% Canadian 5%5. Aug. 1, '29.. 94 94% Canadian ss, Apr. 1, 31 92 92% •Canadian ss, Oct. 1, '31.... 82% 83% •Canadian o%s. Nov. 1, '33.. 86% 88% •Canadian 5%5, Nov. 1. '34.. 83 % 84% Canadian ss, Mch. 1, '37 87% 88% •Canadian 6%5. Deo. 1, '37.. 88 % 89% •French (Viet.) ss, 0pt.,.. '3l 55 56 •French 4s, Opt., '43 45% 40 •French (Preiu.) ss, Issue '2O 05 66'% •French 6s, opt., '3l 65% 67 French Bs, Sept. 15, '45 luo% 100% •Italian (T.) ss, Apr. 1, '25.. 41 " 43 •Italian (War) 5s 31 32 Jap (Ist) 4%a, Feb. 15, '25.. 86% 84% Jap (2nd) 4%5, July 10, '25.. 80V* 86% Jap 4s, Jan. I, 31 71% 72 Norway Bs, Oct! 1, '4O 106% 106% Paris Os, Oct. 13, '2l 99% 100 Russian 6%5, June IS, T 9. ... 14% 16% Russian 3%5, Dec. 1, '21.... 14 16 ! ‘Russian 5%5, Feb. 14, '2O . . 4 6 Sao Paulo Bs. Jan. 1, '3O 97% 98 -Swedish os, June 15, '39 89% n% Swiss 5%s Aug. 1, '29 90 90% Swiss Bs, July 1, '4O 106% (07 !U. K. 5%5. Nov. 1, '2l 99% 100 ; l. K. 3%5. Nov. 1, '22 08% 99% U. K. 5%5, Aug. 1, 20 90% 90% ! K. 5%5, Feb. 1, '37 89% 94% ; *1 . K. (Vic.) 4s, Issue T9....270 280 *U. K. (W. L.) ss, Oct. 1, "22 374 384 *l. K. (W. 1..) ss, Feb. 1, "29 304 374. Zurich Ba, Oct. 15. '45 101 lul% 1 Brazil 8s 100 100% r ranch 7%s .'.... 95% 93% Iruguay 8s yu% 99% •Internal Loans. CORPORATION BONDS. —Sept. 24 . . ~ Bid. Ask. Alum. Cos. of Am. 7s. Nov.. '23 99 % 99% Am. Cot Oil 6a. Sept. 2, '24 in) 90% Am. Tel. f, Oct , '22 99% 100 Am. Tel 6s. Feb.. "24 p a % 99:.* Am. Thread 6s. Dec.. '2B. . 97 1., 9* Am. Tob. 7s. Nov.. "22 100% 101% Am Tob 7, Nor , "23 101 I>*l% Auucunila 6s, Jan '29 . 90% 9! Amo 011 da 7s. Jan., "29 95 % 95% Anglo Ain. Oil 7%5, Apr, '25.101% 102% Armour 7*. July 15. ’3<> loo'* 1,0*4* At. Ref 6%s March, '3l 101 % 10!% Bell Tel. of Can. 7s. Apr . '25.. 97% 98% B“tll, Steel 71. Julv 15 22 99% l'i % Beth Steel 7s. Julv 15. '23. 99 99% Can I'm’. 6s, Mch. 2. '24. 99 99% Petit Arg.Ry. 6s Feb., '27... 8-7 80 p. R. I. A 1* o*, Fet ... "22. 99% 100 Gun Gas Bs. Dee. '2l ... ltto% lon% Popper Kip. 8, Feb. 15, '22 100% 101% Popper Exp Bs, Feb. 15. '23.101% 101% Copper Kip. Bs, Feb. 15, "24 1"1% |n'2% Copper Exp Ss, Pel.. 15, '25.1<r2% 103 t'udahv 7s. July 15, '23 .. 99% IIS) Fed. .Sugar 6s New, "24 . 90 97 Goodrich 7s. Apr '25 91'* y;,% Gulf Oil 7s Julv, '23.. . 98'* 99 Gif 011 7s. Feti.. 33. . . 99% IDO Hocking Valley 6*. Mch . '2t . 97 Humble 011 7s. Mch 15, '23 . 97% 90 lnt R. T. 7s, Sept , 21 . 77 % 78% K ('. Terra. 6s. Nov 15. "23 98% 99% Kenn < ‘upper 7s. Fs, 30... . 94% 91% Laclede Gas 7s. J in., "29 94 94% Lig. A Myers 6, Dec.. '2l . .pm RH)% I’roctor .V G. 7h. Mch.. '22 ,100% lbt)% Proctor A G. 7s. Mch., "23. 100% 10!% I'nli Ser NJ. 7s. Mch '22 . 96 is'.'-* lt.J.Keyonids 6* Aug. 22 99% 100% Sears Roebuck 7, Ocr. 15. "21 99% 100% Sears Roebuck 7s, Oct. 15, '22 99% 99% Sears Roebuck 7s, > ct. 15. 23 9s 1 * 98% Sinclair 7%5, May 15, "25 .. 92'% 9V Solva \ A Pic S*. <>. t . '27 . . 99% IOO'-i So. Ry. 6s, M u . '22. . . . 98-% 99 S.W.Beil Tel. 7, April. '25 98% 99% Stand.O (Pa! > 7s. .lan. '31.104% 105 Stand.O (N Y 1 7-, Jan.. "25 '!!’ ]ir2% 105% St. I'. I l). 3%5, De- 15, '23 97% 98% Swtfe 7s. "ct. 15, "25. . . I%)'* 1")-% Texas Po. 7s, M h. I. "23... .100 100% Utah Sec. os. Sept 13. "22. US% 94% Waltham Watch 6s Aug '24 '22 92 West. K-c 7. April. .101'* 101% Westing house 7s, May, 31 102'* P>'2%

Local Stock Exchange

K 1 OCRS. Bid. A-U Ind Ky Si bight com ... . do ... Ind Ky A Light pfd 75 Indpls Ss S E. pfd l-ndpls St. Rv 31 41 l II I & I. pfd 40 T lb I. & F T U I A E pfd jo I 'I of Ind com t I T. of Ind. Ist pfd 7 I T of Ind 2d pfd Advance Uumlt-y com Adv:tn>v Rtimloy pfd Am. Central Life 200 .Am Creanting pfd .. .. pi l . •Belt K It cun 1,21 •Belt R U pt'il .... 41 % 45 Century Bldg Cos. pfd 91 (.'Risen* (.as Cos . ... 23 25 Dodge Mtg Cos pfd Home Brewing 52 Ind 1 lotei com ... no Ind Hotel pfd 93 Ind Nat. Life Ins. Cos 3% Ind Title Guaranty Cos .... 50 Ind l’ipe Lines 73 77 liml|>lh. Abattoir pfd 40 5(1 Indpls. Gas 411 50 Indpls. Tel. Cos. coin 2 Indpls. Tel. Cos. pfd 90 M. r Pub. I til pfd ...... 40% Natl. Motor Car Cos 2** 5 Pub BaV. Ins Cos. 4 itauh Fertilizer pfd 4.0 Stand, oil of Indiana ..70 72 sorting Fire Ins. t'<> 0% 7-.* Van Camp Jldw. pfd 90 Phi \an Camps Prod. Isi i>fd its \:m Catup Prod. 2d pfd 100 Vaudulia Coal Cos. com. 5 Y.indtilia 1 'oal ( o. pfd 4 % Wabash Ky. com 7 9 Wabash Ky. pfd . ... 21 22% ItDN DS. I Broad Ripple 5s 60 I Citizens st. Ry. 5s 0! 73 Indpls. A Martinsville 5s . 50 Indian Creek Coal A Mine. . PS) Indpls C. A South 5s ss Indpls A Martinsville f*s . 50',. Indpls Si Northern 5s 40% 45 Indpls. A V W. 5s 50% 37 Indpls. A S. E. 5s 45 Indpls. A S E. 3s 70 Indpls. St. Ry. 4s 45 49 Indpls. T. & T. 5s (VS Iridpl*. Gas Cos. 5s 71 77 T. 11. I. Sc K. 5s . 45 . . U T. of Ind. 5s 45% 64 Citizens Gas Cos. 5s 73% so Indpls (.as 5s 71 78 Kokomo, M. & W. 5s 77 lud. Hotel Cos. 2d 6s 93% Indpls. Light A Heat 3s ... 73%. 7s Indpls. Water 4%s 06% 75 Indpls. Water 5s so 91 Mch Hi 1,, is 85 New Tel. Ist 0s . .< 94 Now Tel. L. D. 5s 93'- ... Sou. Ind. Power 5s .. y> •Ex dividend LIBERTY BONDS. Liberty Ist 3%s 88.50 $9,00 Liberty Ist 4%s 90.68 91.98' Liberty 2d 4%s 90.60 01.00 Liberty 3d 4%s 93.84 94.14 Liberty 4th 4%5.. 90.78 91.10 victory 3%S 99 24 99.54 Victory 4%s 90.24 99.40 SALES. $1 000 Indpls. & Northern 3s 40% SI,OOO Indpls. & Northern 5s 41 CLEVELAND PRODUCE. CLEVELAND, Sept. 26.—Butter—Extras. in tubs, 10%(&50' ; prints, B0%<&31e; extra firsts, I.H%<R4!lc; firsts, 47%'(445e • seconds, 38%f(t39e; packing stock. 21%(ft 23c. Eggs - -Fresh gathered, northern extras, 44c; extra firstr, 43c; Ohio firsts, rew cases, 40c; old cases, 89c; western new cases 37c. Poultry—Live b.nvy fowls, 26(R27e; light fowls, i9fg,22c; roosters. 15c; broilers. 23'g24c ; live spring ducks, 205.23 c. Potatoes—Jerseys, $3.75 rx-r 150-lb bag; sweet potatoes, $4 per barrel; $1.75 per hamper. 11 HOEEBALE BEEP PRICES. The following are today's wholesale prices for beef cuts as sold on the Indianapolis markets: Ribs—No. 2,25 c; No. 3.20 c. Lr.ins— No. 2,19 c; No. 3,17 c. Rounds—No. 2. 17c; No. 3,14 c. Chucks No. 2, 80; No. 3, I 7c. Plates—No. 2. 8c; No. 3.7 c.

SWINE STEADY TO 15 CENTS HIGHER Butcher Cattle Steady—Steers Steady to 25 Cents Lower. RANGE OF HOG PRICES. / Good Good Good Sept. Mixed. Heavy. Light. 19. $8.50 53.60 18.26® 8.30 20. 885 8.85 8.10 21. 8.85 8.85 8.25 22. 8.25 8.25 8 16 23. 8.10 8.10 8.00 24. 8.10 8 10 8.00 26 S.2o® 8.23 8.20® 8.28 B.oo® 8.16 Swine prices were steady to 15c higher in trade on the hog market of the local livestock exchange today, with receipts close to 6.500 and the largest part of the demand coming from shippers with east ern house connections. Local packers established the market, although the bulk of the hogs were sold to shippers before the establishment of the market, lo be sold at tne schedule arranged. Local packers took only about 1.500 of the receipts. There was a top of $8.25 on heavies, mixed and mediums, with a tew of that grade selling at $8 20. A few light lights sold at $8 and a similar number at SB.IO, while there were a fair number of sales of that grade at $8.13. The bulk of the sales for the day ranged at $8.15(^8.25. Pigs and roughs brought the same prices as were paid on the closing market of last week Cattle receipts were fairly large today in comparison to the runs that have hit the market during the last few weeks. There were close to 1,000 cattle on the market, the larger part of which were steers There were but a few good heifers and cows ou the market. Prices were steady ou the butcher grades to steady to 15(&25c lower on steers. The demand for steers was rather slow, while (here was a fairly active buying movement among those interested in heifers and, cows. There was a fair demand for bulls at steady prices With only 300 calves on the market, prices were steady. There was a top of sl3 on choice veals, while the bulk of that grade brought $12®12.50. There was a fair demand for heavy stock calves at s3® 6. Sheep receipts were light at 200 and priAps were steady. HOGS. Best light, hogs. 100 to 200 lbs. average 5.15 Over 300 lbs 8.0 1 ' • 200 to 300 lbs s.'JOCd 8.23 Sows O.isKjj 0.73 Stag* 4.50® 6 5o Best pigs, under 140 its .. 7.00® S'>> Tcp 8.25 Bulk of sales 8.13® 8.25 CATTLE. Pr'nie cornfed steers, 1,300 to 1800 lbs 7.00® 8.50 Good to choice staers. 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 ~holce steers, 1,000 to 1.100 lb 6 00® 6.50 Common to medium steers 800 to 1,000 lbs 5 50® 6.00 —Heifers atul Cows— Good to choice heifers 7 75® 8 25 Medium heifers OOJ-t 7") Common to good heifers .... sw® 6.00 Good to choice cows 3 75Vf 500 Fair to medium cows 2'Gif 8.00 Cutters 1 75<a 2.75 Caunsrs 75® 2.00 —BullaGood to choice butcher bulls 473 i 550 Bologna bulls 4 00'<I 4.90 Light bologna bulls .. 3 25Yf 4on Light to common bulls .... 3'lo nf 3.25 —Cal ea— Choice reals 12 Oil® 12.50 Good veals 10 00® 10.50 Medium teals 9 isivi 10. no Lightweight veals . 5.00® 000 ! Common heavyweight Veais . 5 0":i 500 —Stockers and Feeders— Good to choice stt-ers under Buo lbs 5 oOig <4 00 • Medium cows 2 oo t 3.00 Good I'. wi S.OUig 4.00 Goo 1 heifers .. . 7.00 Medium to good heifers ... 400% !i ‘A* SURER AND I AMDS Ew*s Vf-tia 3.50 Ru'As 1 „..i A 2.50 Choice ewes and wether lambs Vm * t>.uo Seconds , 50qi 0.50 Buck lambs 5 0091 6.00 Cull lambs 2 9091 3.50

Other Livestock

iIIK AG". Sept. 26. Hogs Re -Ip's ~;.<00*: market >uw to It. , ,-r; elk y*-...e'u; top. $8.20; heavyweight $7 25.; 8 10, medium weight, St.7sfc.V2W; light weight, $7 (HXRB 15; light lights $ 1 I kl g * ... , . b, $6 25 r U Obo; juicklug sows rough, tG(*.H>; $. it 7 75. t'-ittle It 07 ihk* market steady to uiiewniv lu.wr; t.--. r SGT-, Choice and prill-. $•• 5o ,||l! 23 . mo d"im and _ good. $5 .Voq'.i; 1 jud cii "ice, $s 2.’'<tlo 75; common and mo tlllllll. 41. oVitVJ.’i ; bill , -r cuttle, heifers, SP" 9; low s, >5 5. ,(0 75. 1.1,1 s. u 035; eitliti. rs and cutters, cows uud heir •T* $2 0..'.i.! s(* . aim. r steers s:.•<( 3.50. v, ‘al calves 1 light and hu nil 1 w.-t-ilit *. $7 500412.75 ; feeder steers. $4 75 t J 0.75; Stocker st.-rs, .y. s,.tR6 05; stocher u.Ws end heifers. $5 2.’* (t 1.5 Sheep Ker.-ipr.y 46.(00); market f>r killing class,-. ..bout steady. Lambs M lbs down, s7nsv. cul.s and common, $4fc0.75, v curling wethers, $4.73(0 7: ewes. $2 ,Vim 475 . culls and common, $1 50.12 26.; breeding ewes 85.26, ft 0.25. CINCINNATI, Sept. 26 Hogs Re celpts, 7,200; market, steady to 2.. cents higher; all grades, $8.25; pigs. $7; roughs $0.23 ; stags, $5.. Cattle !{• ceipt*. 4.!*'*. market, weak and 25 t.. M cents p.w r. lulls, 26. to 6*l .snts lower; calves. >ls Sh.e-p and lambs-- Receipts. 1.5(01; mar k**t, steady to 26. cents lower; ewe- $1 -t 3; bucks, $2; choice lambs, $s5U; seconds. $(% culls, $5 r n-l. CLEVELAND. Sept. 26. Hogs Ko celpts, 4.000; market steady to 1(1. lower; york*-rs. $" 35; mixed. s>3s; mediums, $8.35; roughs. $6.50; stags, $4.50. Cattle - Receipts. 1,200; nmrkei slow, sheep and lambs Receipts, 1.250; market 6>oe lower: top, $9. Calves Receipt s. 000; market active and 50c higher; top. sl3. EAST ST. l.dl IS, Sept. 26 Hogs Re celpts. 0.500; market st.-adx to Ilk- lower; mixed ami butchers. SS'(tS4O: good heavies. $7..53 Hi 5.35: roughs. ss',■<('.; lights, rs 25(0 S 50 ; pigs. $7 25,18 15; bulk of sales $8.20148.511. Cattle Receipts, 9,ot>: mar' ket lower; native beef steers. $8,6.!W.i 9; yearling steer* and heifers. Ship 9; -niv, S3O/ 5.50; calves. sll at 11.50; can tiers and cutters, S2O/5.25. Sheep and lumbs Re celpts, 1,000; market 25,- higher; mutton ewes. s3ot4 26; lambs, s7fcS; can net’s and choppers. $10j,1.76>. EAST RC UFA 1.0. Sept 20 Hogs Re celpts, 13.000; market active; ynrkers. $5.0(04512’,; pigs. $s !’()((/ s Ik".; mixed. s.s 50 OjJS.OO ; heavies. $.8,500/ $.00; roughs. so§ t 0.26,; stags, $3,300/1.30 Cattle Receipts. 4.0*0: market slow ; shipping steers. $8.75 0/950; butcher grades. ss.so'k ,$ 6,0 : heifers, $10(7; cows. $lO/5.50; bulls. S4O/5.5,0: milk cows and springers. SIOO/100. Calves Receipts. 2.800; market /olive; cull to choice, $50(14. Sheep and h, mbs Receipts. 10.0(H); market active; choice lambs. $90(9.25: cull to fair, SOO/,-5.7.3; yearlings. $4,500(6.00; sheep. $lO/0.. PITTSBURGH. Sept. 26 Hogs Re ceij>ts. 6,500; market 5c higher; prime heavies, SS.4O(/iS.SO ; mediums, $8..50fR.8.90; -heavy .workers. $8 800/8.90: light ynrkers. $8,600(8.73; pigs. $8.25*0/8.50; roughs, s6t(( 7; stags, [email protected]: heavy feeders. sS.o3ox 5.75. Cattle Receipts, 2.700; market. 25lower; choice cattle, $7.75(08.25; prime cattle, $7,750/8.25; good cattle. $7,250/' 775; tidy butchers. $7.30018; fair. s6,s>o(i/7; common. $3,500/81.50; common to good fat bulls, common to good fat cows, $lO/5.50; heifers, $0.250/7; fresh cows and springers. s3o(rt;ss; veal calves. sl4; heavy and thin calves, $5 500/9.50. Sheep and lambs Receipts, 3,800; market steady; prime wethers. $1.500/6>: good mixed, S4O/4.50; fair mixed. $3.25©3.75; culls and commons, $lO/2; lambs, $8.50. INDIANAPOLIS PRODUCE. Butter —Local dealers ure paying 39 40c per lb. for butter delivered in Indianapolis. Eggs—Los* off, 33(ia;34c. Butter—Pack iug stock, 174518 c. Poultry Fowls, 19@ 230; springers, 224/26,’; cocks. lojjj/Uc; young hen turkeys, 8 lbs. up, 35c; young tom turkey*. 12 lbs. up, 35c; old tom turkeys, 30c; cull thin turkeys not wanted; ducks, 4 lbs. and up, 15@16c: spring ducks> 3 lbs. and up, loc; geese, to lbs. ami up, 10(gTlc; squabs, Jl lbs, to the dozen, $4.50. Butterfat—Local dealers are paying 37c per pound for butterfat delivered In Indianapolis.

GRAIN PRICES SUFFER SLUMP Market Is Extremely Dull— Provisions Weak. CHICAGO. Sept. 23. Oratu prices slumped off the Chicago Board of Trade today on a dull market. There was some selling of wnoat and oats by Eastern houses, forcing the quotations down. There was little buying power and trado was exceptionally light. Provisions were weak. September wheat opened off %e at $1.23%, and closed off %c. December wheat opened off %c at $1.23%, and closed off l%c. May wheat opened up %c at $1.80%, but dropped l%c at the close. September corn, after opening down %c at 32c, closed off lc. December corn opened at 52%c, up %c, and lost %c at the close. May corn opened unchanged at 50%c, and closed off %e. September oats opened unchanged at 85c and closed off %c. December oats opened unchanged at 37%e, and closed off %o. May oats opened off %c at 42c, and closed down Vic. (By Thomson & McKinnon.) —Sept. 24 YVbeat—ln addition to the absence of export demand fur wheat, the milling demand has been In the usual slow Satur day character. A little hedging and scattered realizing supplied the early de mand fur the defered deliveries, the market thereafter being without important support. Foreign news has been of a depressing character, there being some unconfirmed talk of offers to re-eell. It is said that the Italian erop is much larger than last year. The Argentine crop is progressing favorably under the recent beneficial rains, although the willing demand was slow today, them is no evidence of any real weakness Spring wheat continues to demand good premiums. The cash market here is rather slow, there being further sales to store for future deliveries. The movement from the farm since July 1 has been heavily In excess of last year, hut only a trifle larger than a very few years ape It should be remembered that last year the producer was possessed of the Flea of $3 wheat, ami was. therefore, a slow seller. Considering the amount of wheat already shipped abroad and the excellent premiums commanded by choice milling wheat, the market should not lie Immediately adversely influenced by the slow export business. We anticipate erratic action until the trade is more enlightened as to the future movement from tin- farm and as to whether the cessation of foreign Interest is temporary. Corn and Oats Such strength asap pears in corn and oats is a reflection of the strength of wheat Both markets are neglected, but seem to huve an etisy underlying tone. Deliveries of corn on September contracts were very large to Ja.i. and the country, particularly lowa, has increased its offerings Provisions -The undertone of the hog products is heavy due as much to in absence of support as to any Important selling. The hog market showed strength. CHICAGO GRAIN TABLE Sept. 26 WHEAT Open High. Low. (lose. Sept 122% 1.23 121 121'* Dec 1 23% 126% 121% 1 24% Mav. . . 130 1.30% 1 28% 1.28% Ct ■ R N Sept... .52 .52 .5 1 .51 Dec 52% 52% .51% .51% May.... .56% .36 % .50 .56'* "ATS Sept 31% .35 .34 % 34% I 37% .3.0 37'* .37% Mav ... 42 42 .41 % .41% I'URK— Sept... IS 50 LARD Sept... 10.00 "ct 1-1 12 10 17 9 95 10 02 Jan ... 905 9.15 902 905 RIBS - Sept 7.25 " t 7 4.'. 7 45 7.25 7 25 Jan..... SOO 8.00 785 7.85 RYE - Sept. . 101 'a 101% 101 101 , Dec .. . 1.05% 105% 104'i 104% CHICAGO t ASH GRAIN. CHICAGO. Sept 26 Wheat No. 3 red. $1,25; No 1 hard winter, $1.25%; No 2 hard winter. $1.21 %'u 1 23 ; No. 2 mixed, sl2. i orii No 2 mixed, 52%(<|53c, No j 2 white. 2•; No. 2 yellow. 32%'it 53 N 1 mixed. 51%4j52 •*■' , No. 3 w bite, 51V ; No. 3 yellow. 52^52%kC; No. 4 mixed .51 %'q G j Data No. 2 white. : 35%'q37%c. No 3 white, 3430 c; No. 4 white. 52%(u33%e. TOLEDO I.RAIN I’RICES. TOLEDO, S*-pt. 26. Wheat—Cash, $103; September. #1.50; December, $135; May, Si ;" t’em <Ntsh, 5) 65%c "ais Cash, 38%c to 39%.;. Rye—Cash, lb:. Burley, cash, C3c. I RIMAKY MARKETS. ißy Thomson A McK.nnon.) Sept. 24 - RECEIPTS. M bent. ( orn. f )st ("hli 99.(00) 627 (0*) 250.00> ] M waukee . . 2mi Nt.'GC 57.(** MinneapolD ilNi.i)') Jl.nca 35.000 Duluth 381.0(81 77.C00 j St l.u.its . 177.(40) 00.1 *0 ) 83,000; Toledo 21.0101 IS <rtX) lO.lXS) j Detroit H.ooO 2.' 04) ,0,000 Kansas Citv . 413,000 24.0'" 36.000 l'eoria s.nOo 03.0(' 47.000 "tnaiia . 124.(0 64.090 ilS.Olk) Indlauapolla . B.<OJ 43.)**) 00,04)0 Totals . . 1516000 1.150.0*0 024.000 Year ago 1.476.000 970.00 7f>0.0)0 SHIPMENTS. Wheat. Corn Oats. Chicago 47(00) 1,272.10)0 756,000 Milwaukee 152.000 435,000 361.00) Minneapolis . 120,0*0 15,u.*0 34,000 > uluth 4''3.*00) S* ! .mils ... 105.0*0 03.000 100,0)0 Toledo 9.100 9,000 31,000 Detroit 5,(00) Ivunsaj City . 274300) 30.000 14.'0>) Peoria 1 o*o 19.000 23,000 "umha .. 110,0)0 4(1,000 148.000 Indianapolis. . 3,000 22.U*0 Totals . .. . 1.51\0*0 1 .SNO.OOO 1,509.000 Year ago ..1.315.0*0 244.000 tt;4,00) t'l.h.l RANGES. Dora. Wheat Corn. Oats New York 186,000 Philadelphia 24.000 2 0H) 11,000 Totals 210,000 2.000 11. (KH) Year ago . . ONi.'SK)

INDIANAPOLIS CASH GRAIN. —Sept. 26 Bids for car lots of grain and hay at the call of the Indianapolis Board of Trado were: \\ heal Easier: No. 2 red, $1 33(/M.35. Corn Steady; No. 2 white. *l/<f 53 %c: No. 3 while. 5241521,-: No 3 yellow. 32!,(n 53c: No. 3 yellow. r>2(,(52%0 : No. 2 mixed, 52/,(53c: No 3 mixed. f>l@32c dais Easier; No. 2 while, 30%(*f37c: \.. 3 white, 35%@48%e; No. 4 while. 34 f(£33c. Hnv Slow: No 2 timothy. 17/dIS: No. i! timothy. SI7GWI7 50: No'. I light do ver mixed. $10.30(,/17; No. 1 clover mixed, $lO 50///17 30. —lnspections Wheat No. 3 red. 3 ,-ars; No. 4 red. 2 cars: No. 3 dark northern spriug. 1 car: sample. 2 cars; total, S cars. Corn No. 1 white, 8 cars; No. 2 white. 13 cars: No. 4 while, 1 car: No. 1 yellow, 13 cars: No. 2 yellow, It cars; No. 3 yel low. 2 ,-nrs; No. 4 yellow. 1 car; No. V mixed. 2 cars; No. 2 mixed, S cars; total, 49 cars. Oats—No. 2 white, 1 car; No 3 white. 21 cars; No. 4 white. 3 oars; No. 3 mixed, 1 car; total. 26 cars. Hay--No. 1 timothy. 1 car; No. 2 timothy, 1 cur; total. 2 cars. HAY MARKET. The following are the Indianapolis prices for hay by the wagon load, delivered. liny—Loose timothy, old, $19(021; mixed hay, new, $17@18; baled hay, old, $18(4)20. new. $17@19. Oats—Bushel, new, 30@35c. Corn—New, 60<2562c ner bushel, WAGON YVHEAT PRICKS. Indianapolis Hour mllia and oievators today are paying $1.20 for No. 1 red winter wheat; sl.lß for No. 2 red winter wheat and according to test to* No. 3. Oats are quoted at 28c for No. 3 white or better. TOLEDO SEED PRICES. TOLEDO, Sept. 26. —Cloverseed—Cash. $12.60 bid; December, SJ2.SO bid; February, $13.0f) bid; March, $12.90 bid Alsike Cash. $10.75; October, $10.73: December. sli*.9o; March, sll. Timothy— Cash, $19.20, $2.50; 1921 cash, $2.60; September, $2.80; October. $2.60; December, $2.70; January, $2.75; February, S2.SO: Marci), $2.85.

Weather

The following table shows the state of the weather at 7 a. m. as observed by rotted Btates weather bureaus: Station. liar. Temp. Woathct. Indianapolis, Tnd.... 30.20 81 PtCldy Atlanta, Ga 30.06 70 PtCldy Atnarlllo, Texas.... 80.00 00 Cloudy Bismarck, N. D 10.80 CO Clear Boston, Mass 80.04 o Clear Chicago. HU 80.20 58 Clear Cincinnati, Ohio 30.20 CO PtCldy Cleveland, Ohio ... 30.22 08 Clear Benren, Colo 30.02 62 Clear Bodge City, Kan... 29.93 58 Cloudy Helena. Mont 28.90 48 Cloudy Jacksonville, F1a.... 30.09 78 PtCldy 'Kansas City M 0... 30.08 54 Clear Louisville, Ky 80.16 68 Cloudy Little Rock, Ark... 30.02 66 Rain Los Angeles. Cal... 29.80 72 Clear Mobile, Ala 30.02 76 Clear i New Orleans, La... 30.02 79 Clear New Fork, N\ Y... 30.12 62 Clear 1 Norfolk, Vn 30.10 72 PtCldv : Oklahoma City .... 30.06 62 Cloudy I Omaha, Neb. ...... 30.02 86 Clear Philadelphia, Pa... 30.16 64 Clear | Pittsburg, Pa 30.24 GO Clear Portland. Ore 80 06 eo Clear ; Rapid City, S. D... 29.92 62 Clear i Roseburg, Ore 30.18 1,8 Clear ! San Antonio, Tex.. 30.00 74 PtCldy San Francisco, Cal. 29.92 6) Clear ! St. Louis, Mo 3H.12 GO PtCldy St. Paul, Minn 29.94 52 Clear i Tampa. Fla 30.04 78 Clear Washington, B. C.. 30.18 60 PtCldy WEATHER CONDITIONS. During Saturday showers occurred from the middle and upper Mississippi Valley southeastward, and since Sunday rains have fallen frurn the lower Mississippi Valley to New England, while over other sections the weather lias been generally fnir. It is cooler over northeastern sections, but considerably warmer over practically the entire northwest, due to an extensive barometric depression now centered in Alberta. CORN AND WHEAT BULLETIN. For the twenty four hours ending at 7 am., Thursday, Sept. 15, 1821: Temper r I ature i * ! ; Stations of c i • ~t.e m Indianapolis „ a:.®'* 1 - District. fT S* Ztt S~ tee. >Sj -~jz. c South Bend".. .7 77 187 61 Good Angola 81 : 59 0 ! Good W. Wayne 80 88 ! 0.04 •" neatfleld 82 56 0.33 Good Royal Center 80 G 4 0.02 Good Marlon 85 58 0 Good Lafayette 88 00 0 Good Farmland : 88 1 oo 0 Good Indianapolis '93 61 1 C- Good Cambridge City 86 C. 2 I 0 Good Terre Haute 86 60 0 Good Bloomington .88 64 0 Good GIVE FREE RUM IN SOUTH SEAS Only Males in Family Get Booze Gratis. tßr International Nows Service) SAN FRANCISCO, Sept. 2C.—Some new wrinkles In Government have been Introduced In the Gilbert Islands, one of the far south groups in the Pacific. And—according to members of the crew <f the trading schooner Lottie Beunet. which has just arrived at this port from Tarawa principal port of the Gilbert Islands the new laws, rigidly enforced by native police, scorn to be working well, e'en the blue laws and temperance measures. Here are some of the laws, nccordlng to the Lottie Bonnet's crew: Each native shall have five acres for producing cocoai uts as his worsens! right Should he have a wife he shall own seven acres and, for eaeh child, an additional acre. <>n each day fS’-crt Sunday each male shall receive one goblet of rum paid for out of the public treasury. Four shillings Is the daily wage on the plantations. There shall be no work or fishing on the Sabbath, neither are the women permitted to do the family washing. Crews of visiting craft are not pet Gittted to purchase liquor end. Instead of reeeivtug free cocoanuts. shall pay the natives one shilling apiece. Those who reach tho age of sixty years ini:st retire All the other inhabi tants are taxed in cocoanuts for their upkeep. Marriage Licenses 1 ounce McCoy. 7 E. North st 2S Leona Schvoler, 1460 X. Alabama st Charles Moon. 526 E. North sf 3t Hazel Beard. 511 K. North st 18 James Farrand, 1280 Standard nv 23 bnrah Farrand. 11"6 W. Ray st 19] • diaries Grey, 1907 College uv 30 Irene Hayes, 1620 Central v 28 Charles Land. 114 W Ohio st 22 Viola Dunn. Indianapolis ...19 Roy Richards. 1120 E Michigan *t .21 Minnie Skalilt. lin'd Broadway 21 Robert Pnssley, N Senate 32 Marie Robinson. 1002 N. Illinois st ...28 Jack Tolliver. Indianapolis 21 Etta Robbins, £46 N. Davidson st 20 j John Dukes. 839 Wright st 38 Louise Kesmeler, 2120 Ashland at 29] Herbert Snlus, Philadelphia, Pa .81 Theresa Born. 38 E. Sixteenth st 25 John Dencberger, 27 E. Piatt st 42 Nolle Thompson, 989 X. Meridian st.. 20 Thomas Tltigler. Severin Hotel 4.3 Pasa Apman, Terre Haute, Ind 38 Maxwell Bronson. 2H Hendricks PI. .24 Illla Cole, 24 Hendricks Place 19 Harold Zeller. Craw fordsvllle. lud 22 .7line Plunkett, Crawfordsville. Ind IS Donald Smith. 3602 W. Tenth st 25 Ruth Kugohmau, Indianapolis 23 Births Martin and Rosie Cesnik. 757 North 11m ugh, boy. Vincent and Mary Dugan, 4 Plum. boy. Charlie and Bessie Donahue, 814 South Alabama, boy. William and Velvia Dowell. 3559 Ken wood. boy. Walter and Minnie Riehl. 717 East Eleventh, girl Thomas and Millie Armstrong, £BO6 North Gale, girl. Julius and Flora Keil SO3 Ft. Wayne, girl. Charles and Gladys Pickerell, 1021 West Thirty Seventh, boy. Le Roy and Lula Keller. 4394 West j Washington, boy and girl, twins Ronald and Gladys Trueblood, 46 South Grace, hoy. Karl and Iva Sheets, 1341 East Minnesota, girl. Chester and Mildred O'Dell. 2354 Bellefontaine, girl. William and Dorothy Strawmeyer. 2352 X Delaware, girl. Lee and Pauline Kontell. 441 North • Illinois, boy. Lawrence and Marie Knoop. 249 Chris- j llan, girl. Joseph and Caroline Reid, 390 North i Senate, boy Albert and Katie. Lecbner, 1329 Hoyt, girl. Harry and Bertha Gold. 1603 Columbia, girl. Oscar and Ina Black, 638 West Tenth, boy. Deaths Frances Louise Booty, 63, 1133 South ' East, carcinoma. George Tirla, 31, Deaconess Hospital, lobar pneumonia. Zorn Howery, 35, Long Hospital, cerebral embolism. Newlln Bales Stuart, 57, Methodist Hospital, tetanus. Fannie Gertrude Hopwood. 6 months, 1225 Holiday, broncho pneumonia. Charles Brown, 55, 2428 North Meridian, acute nephritis. Frank Harrison, 65, 2SIB Brookslde, carcinoma. Emma Z. Hodson, 67. Methodist Hospital, carcinoma. Frances Amelia Kessler, 9 months, 1542 Shepard, cholera Infantum. George B. Russell, 57, 1115 West Fif teeutb, carcinoma. Clara D. Wright, 56, 1420 East Vermont, cerebral apoplexy. Helen E. Hoper, 16, Methodist Hospital, appendicitis. William Lee Jefferson, 1, city hospital, pulmonary tuberculosis. Harry Gorman. 1, 59 South Tremont, acute gastro enteritis John Richard Coakley, 1 month, St. Vincent Hospital, pylorus stenosis.

FINANCIERS IN NEW YORK BEGIN TO BUY RAILS Purchases Taken as Evidence of General Improvement in Industrial Shares. LUMBER IS IMPROVING Special to Indiana Daily Times and Philadelphia Publlo Ledger. By C. B. KY ANB. CHICAGO, Sept. £6—Unless the European bull breaks into the American china shop and smashes things, there i* a fair probability that the new movement in various commodities and tba growing confidence In the substantial solvency of the country will work out into an Increased business, more stable prices and more general employment within a period measured by months and will eventuate in normal conditions. The evidence of good things is now in details, in addition to those incidents heretofore noted one hears today some rather good reports from the lumber interest. One operator whose property is in Louisiana has been asking $36 per thousand for a certain grade of his product and now is a bit upset by a bid of $47. This is one of the cases of scarcity and does not stand for the general dition of the lumber trade but for ths position of a certain specialty. The trade generally Is about 40 per cent of the total of a year ago and prices are onethird less, as nearly ss one can estimate with the great variety of classes and qualities of this merchandise. It 1* typical, however, for there are many commodities which will be found in extremely small supply If anybody puts in a hurry order. Jumps in price like that of cotton a few weeks ago are quite In the line of probability. Cotton got woefully tired of waiting for

"revival of business" and did something. Steel Is by no means a hopeless case in this connection. One hears reports that Mexico is in great need of this commodity. Which may account for the visit in that country of Chairman Gary of the United States Steel Corporation. Reported purchases of 50,000 shares of railroad stocks by certain of the heaviest financiers of New Y'ork may be considered as evidence of a turn of thought there in the direction of an all-round improvement in American affairs, for the buyers are of a class of people who reach an opinion by logical processes and out of more abundance evidence than most of us have and then buy before the crowd has waked up. But it takes a good many grains of sand to make a seashore and we have only a few at the present time in these scattered reports of gain. In view of adxdces from Europe one is inclined to ask what chatiee the United States has to *ed its manufactured articles in tbs markets of the world. Recently in a. competition between British and German producers, on a large order for steel merchandise the German prices were found to be 40 per cent less than British. This in spite of a condition In the United Kingdom that calls for the most favorable terms to buyers in order to avoid increasing the unemployment which is such a grievous burden to the country. And it is not merely the international trade. In the long run cheapness in German goods will force declining prices of our own products. The German pocketknife and other small articles little noticed by the statisticians are working their way into this country on a pretty large scale. It is partly in view of such facts that many undertakings which have been In contemplation for a long time are still in abeyance. The projectors want to know whether. In buying material, they will find themselves on top of high figures when If they had waited for a few months they could have built under normal conditions That is what is holding back the construction of anew building for the Chicago Board of Trade, which has long been in mind. The subject has been up again within the last few days, but was laid hack on the shelf. Several other large plans in this city are in supen se. Equally much doubt prevails as to the persistence of certain tendencies in the investment market that have made their appearance recently. True, bonds bare advanced materially, indicating a lower money market, but Chicago has been dsciiledly sby regarding the railway equipment bonds just placed on the market at a yield of 573 and SSO per cent. Scarcely any have been sold here. They will go eventually without doubt, but the investment community think that it is going too fast to buy such an issue with'* plenty of good stocks now yielding 10 to 12 per cent.—Copyright, 1921, by the Public Ledger Company.

CORN CROP HAS ESCAPED FROST Wheat Seeding in Progress in Northern Counties. * Wh-’at seeding is progressing rapidly in the northern part of the State, although not yet started in the central and southern sections, according to the weekly statement of the crop conditions issued today by George C Bryant, agricultural statistician to the 1 uited States Department of Agriculture. All except the late planted corn 1* now out of danger of damage by frosts, the report states. The report in full follows: “Heavy rains during the first part of last week stopped outdoor farm work. Fall plowing is nearly completed. “Corn cutting, silo filling and fodder shredding are progressing very rapidly. AU except the late planted corn Is now out of the way of frost damage. Much of the crop is down badly. “Wheat seeding became general In the northern counties on the 22nd. under favorable weather conditions. But Mttl# has been sown in the central and southern counties Acreage wtU be curtailed in some localities because of the twisted condition of corn. “Rye seeding has started 1n the north part of the St.We and will conform closely to wheat seeding dates. “Potatoes will not make much more than one third of a erop. The stand generally is poor, although there are some good patches "Meadows and pastures continue in good condition. Young clover la looking good. Cloverseed i* almost a failure in some localities, although there are some good fields of Mammoth and Big English. “Tobacco cutting is practically completed and the crop is housed. Weather conditions are not as favorable as desired. ‘Hog cholera is prevalent in many sections and is probably due to feeding too much new corn. Anthrax among cattle and horses is reported from ssTeral localities. "Fatnr labor supply continues plentiful. “Truck crops are nearly all gone. The buckwheat harvest is practically over, with promise of a fair to good yield.”

DOVE BRAND HAMS

f3wc!cf mam V AN® j

A TASTE YOU ' CANT FORGET