Indianapolis Times, Volume 34, Number 136, Indianapolis, Marion County, 18 October 1921 — Page 10

10

STRIKE NEWS AFFECTS RAIL STOCK ISSUES Prospects of Upheaval Hits Other Industrials in List. SELLING MOVE SPREADS Special to Indiana Daily Times and Philadelphia Public 'Ledger. By MONITOR. NEW YORK, Oct. IS—As was to be expected, the dominant feature in the news affecting security values, was represented by the prospect of a general railroad strike. Every railroad issue was adversely affected, and the selling movement embraced a large proportion of the industrials. It was to be expected that the equipments would sympathize with the weakness in the railroad that the steels also might share in the pressure. The selling movement, however* spread to all quarters of the list and included the oils. Sharp declines occurred in some of the recent market leaders. such as Pacific Oil, Houston, Royal Dutch and shell trading and transport. Mexican Petroleum was irregular and weak. Opinion in Wall street is divided as to the prospect of a strike, but it is felt that if a general walkout is avoided it will be at the cost of expensive coneesilons by the carriers and that the settlenent might be more unfavorable than dual facing of the issue. Losses of one o two points were common throughout he railroad group at the limit of the decline around mid-day. Market sentiment also was npset by the break in German marks to the new low level of .52%. The rank and file of the traders found it hard to reconcile the weakness in marks with the strength in sterling, which rallied to the highest point since the latter part of May. International bankers here are firmly of the opinion that while the decline in marks may be due to the financial weakness in Germany, the strength in sterling, francs and lire is not caused by improvement in fundamental conditions. The rise in these currencies is attributed almost entirely to Short covering against speculative sales by German bankers, who expect other European currencies to drain the mark collapse.—Copyright, 1021, by Public Ledger Company. WALL STREET GOSSIP BY MONITOR. Following the first wave of liquidation in the general list, trading became very quiet and dullness was the chief characteristic during most of the session Monday. As was to have been expected, the weakest features were the stock of these railroads which, according to the labor leaders' program, are to bear the initial force of the strike, if it is declared. Banking support was in evidence from the opening of the market, not only in purchase of stocks, but also in decidely free offerings of call money. Bankers have expected since last spring that railroad labor difficulties would develop. This opinion is that if the strike has to come, it is better to have it now and end the uncertainty which has existed between the railroads and their employes. Railroad executives are not alarmed over the union decision, and are in fact inclined to believe it an issue which should be faced now. The market in General Asphalt Is in the hards of an aggressive clique, and there are intimations in these quarters that short sellers of this stock are likely to find their position untenable. Studebaker received substantial support around 70. It is understood that interests identified with the company are buyers near this level, and considerable quantity of this stock being taken out of the market. It is generally understood the rest of this year will bs dull in the automobile trade, but this buying is in anticipation of an extended forward movement next year. Call money opened and renewed at 5% per cent, and und r large offerings declined steadily until in the afternoon the quotation stood at 4 ppr cent, with some loans reported in the outside market at 3% per cent. The 4 per cent rate is the lowest since July 2S. American sugar made its usual low record when sales were recorded at a fraction under 52. There has been expensive liquidation in this stock by New England and Pennsylvania interests ever since the dividend was passed. The preferred at one time during the day was 72 bid offered at 73, which led some commission houses to believe that despite official statements the dividend on the preferred is not secure. Chain stores sales of general merchandise are holding up better than the large interests in this fields had anticipated. The McCrory stores report for September total sales of $1,050.751 as compared with 51,114.905 for the corresponding period last year. For nine months ended Sept. 30 sales were $9,480,112 as compared with $9,551,85S for the nine months of 1920. About $1,000,000 in cold arrived from France. Including this shipment arrivals on six vessels between Saturday morning and Monday afternoon totaled s7,4oo,ooo.—Copyright, 1921, by Public Ledger Company. In the Cotton Market T NEW YORK, Oct. 18.—First prices > were 6 to 13 points lower at the opening of the cotton market here today. The trade was a good buyer early on a scale down. There also was rebuying by old bulls on strength in futures at Liverpool and New Orleans. Shorts, too, did considerable covering. The chief selling was for Southern account. After the start the list advanced 10 points from the lowest initial levels and at the end of the first fifteen minutes was quite firm. New York opening cotton prices: October. 18.15 c; December. 19.30 c; January, 18.0 fie; March, 17.99 c; May. 17.50 c; July, 17.16 c; August, 17.00 c; September, 16.70 c bid. Fresh selling caused the market to fall into new low ground for the movement in the late dealings. The close was weak at a net decline of 2!@49 points. —Cotton Futures— Open. High. Low. Close. January 18.06 18.45 17.84 17.80 March 17.90 18 26 17.55 17.55 May 17.50 17.85 17.20 17.20 July 17.15 17.45 16.85 16.90 October 18.15 IS.4S 18.00 17.90 December IS.SO 15.75 15.05 18.10 LIVERPOOL, Oct. 18.—There was a fair demand for spot cotton at the opening of the market here today. Prices were easier and sales approximately 8.000 bales. American middlings fair. 14.57d: good middlings. 12.77d ; fully middlings, 12.27d ; middlings. 11.87d : low middlings, 10.72d ; good ordinary. 9.57d; ordinary, S.S2d. Futures opened easy. INDIANAPOLIS PRODUCE. Butter—Local dealers are paying 42(5? 43c per lb. for butter delivered in Indianapolis. Eggs—Loss off, 43'ft45 Butter—racking stock, 19@20e. Poultry—Fowls, 17@ 23c: springers, 43@45: cocks, 10@llc: young hen turkeys, 8 lbs. up, 32c; young tom turkeys, 12 lbs. up, 32c; old tom turkeys, 25@27c: cull thin turkeys not wanted: ducks, 5 lbs. and up, 166?20c; spring ducks, 3 lbs. and tip, IB© 18c: geese, 10 ibs. and up, 10(3:12: rabbits, drawn, per dozen, $3; squabs, It lbs. to the dozen, $4.50; young guineas, 2-lb. size, per dozen, $7.50. Butterfat—Local dealers are paying 43c per pound for a butterfat delivered in Indianapolis. \ NEW YORK RICE. NEW YORK, Oet.JS. —Rice values were unchanged in trade on the market here today, domestic selling at 3%©7%c per pound.

N. Y, Stock Exchange —Oct. 18— Prev. High. Low. Close, close. Allied Chemical.. 44 43% 44 43% I Ajax Rubber... 20 19% 20 20 i Allis Chalmers... 33% 33% 33% 33% Am. Agri 32 30% 31 32% Am. B. Sugar.. 25 24% 24% 24% Am. B. Mag. Cos. 33% 33% 33% 34 Am. C. & Fdy.126% 125% 125% 126 Am. Can 25% 25% 25% 26% Am.H. & L.com. 9% 9% 9% 10 Am.H. A L.pfd.. 50 48% 50 49% Am. Int. Corp. 31% 30% 31% 30% Am. Loco 89% 89% 89 88 Am. Sugar Kef. 51% 48% 49% 51% Am, S. T. Cos. 35% 34% 35% 34% Am. Steel F. . 23% 23% 23% 24 Am. Tel. & T. .108 107% 107% 108 Am. Tobacco ..124% 123% 124% 73% Am. Woolen ... 73% r3 73 73% An. Min. Cos. . 38% 38% 38% 38% Atchison 85 54% 85 84% At. G. & W. I. 26% 26% 26% 26% Baldwin Loco. 85% 83% 85% 84 B. iV. O. ....... 30% 3u *•-►% *'.*% Beth. Steel (Bi .03 52 % 02% 02% Brook. Ray. T.. 7% 7 7 7% Canadian P. R. 111% 109% 111% 109% Central Leath.. 27% JK>% 27% 27% Chanler Motors 42% 40% 41’% 40% C. & O .... 51% .... 52 Chi. M & St. P 22% 22 22% 22% C, Mti S P pfd 36% 33% 36% 35% Chi. & North... 66% 66 66% 65% C, It I & Pac.. 31% 30% 31% 30% CRI & P 6pct p 65 64% 65 04% CRX & P 7pet p 77 76% 77 77% Chili Copper .. 11% 11% 11% 11% Cal. Petroleum 40% 39% 40% 39 Chino Copper .. 24% 24 24 24 Cocoa Cola .... 35 34% 35 32% Col. Fuel & Iron 24 24 24 Columbia Gas .. 60% 60 60 % 60% Columbia Graph 3% 3% 3% 3% Con. Gas BS% 88 88% 88 Cosden Oil 31% 30% 31% 30% Corn Praoucts.. 79% 77 7S 77% Crucible Steel... 59% 5S 59% 55% Cub. Am. Sugar 11% 11 11% Cub. Cane Sug. 6% 6% 6% 5% Del. & Lack 102% 102% 102% 102% Del. & Hudson.. 96 96 96 96% Erie 12 11% 11% 11% Erie Ist pfd.... 17% 17% 17% 17% Gen. Asphalt ... 52 50% 52 51 Gen. Cigars .... 58% 58% 58% 58% Gen. Elec 124% 123% 124% 121% Gen. Motors .... 9% 9% 9% 10 Gt. North, pfd. . 70% 68% 69% 68 Great North. Ore 29 28% 28% 29 Gulf States Stl. 37 37 37 36% Houston Oil .... 64% 61% 64 62% Illinois Cent. .. 94% 94% 94% 94% Insp. Cop 33% 33% 33% 33*4 Indiahoma 3’ • 33 3% Invincible Oil .. 11% 10% 11% 10% Inter. Harvester 76% 75% 75% 75% Inter. Nickel... 13% 13% 13% 13% Inter. Paper .. 47% 46% 46% 46 r *. Island O. & T.. 3% 2% 33% Kan. South. 23% 23% 23% 23% Kelly-Spring. T. 30% 38% 39% .'59 Kennecott Cop. 21 20% 21 21 Lacka Steel .. 39 39 39 38 Lehigh Valley.. 53% 53 53 51% Lee Tire 27% 26% 27% Loews, 1nc.... 13% 13% 13% 13% L. & N 103 103 103 103 Marine pfd 46 45% 46 45 Mex. Pete 95% 92% 95% 93% ; Miami Copper... 22% 22 22 22 Mid. S. Oil 13% 12% 13% 13% Mid. Steel 23% 23 23 23% Mo. Pacific 18% 17% 18% 17% Mo. Pacific pfd. 40% 39% 40V. 39% Nat. E. & 5,... 39% 39% .39% 39% N Y. Central... 70% 70% 70% 70% New Haven 13% 12% 13% 13% Norfolk & W 93% North, pacific... 71% 70% 71% 70% Ok. P. k Rf. Cos. 2% 2% 2% 2% Pacific Oil 40% 38% 40 " 38% Pan-Am. Petrol. 4.3% 42 4.3% 42 Penn. Ry 34% .34% 34% 34% People's Gas.... 49% 49% 49% 49% Pierce Arrow... 13% 12% 12% 12% Pierce Oil C 0... 7 6% 7 7 Pittsburgh Coal 56% 58% 58% 58% Pullman Car. . 92% 87% 87% 92 Ry. St! Spgs 82 81% S2 80 ; Pure Oil 29% 28% 29% 29% j Reading 68% 67% 68% 68% Rep. Iron A-Stl.. 47% 46% 47% 46% | Royal Dutch NY 42Vi 41% 42% 40% i Sears -Roebuck.. 6X% 67% 67% 67% Sinclair 20% 20% 20% 20% Southern Pacific 76% 75% 76% 75% Southern Ry.... 19 18% 19 18% St LA- S W Ry. 21 20% 21 20% Std. Oil. N. J.... 147 146% 146% StL&SFcom. 21% 21 21 21 Stromberg Carb. 29% 29% 29 29% Studebaker ... 72 70% 72 71 Stand. Oil Cal. 78 77% 78 77% Texas Cos 39 37% 39 38% Texas & Pac... 21% 21% 21% 21 Tob. Products. 63% 62% 62% 62% Trans. Oil ft 8% 8% BV, Union Oil 20% 19% 20% 19% Union Pacific.. 11.8% 117 118 117% United R. 5.... 52% 49% 52% 50% Food Trod. Cor. 13% 12% 13 12% United Fruit Co.loß 108 108 107% United Drug.... 57% 57% 57% 57% IJ.S.lndus. Alco.. 44 43% 44 44 U.S. Rubber.... 4.8% 47 48 47% U.S. Steel 78% 77% 78 77V. U.S. Steel pfd.. 110% 110% 110% 110% Utah Copper.... 51% 50% 51% 50% Van. Steel 30 29% .30 29% Vir-Oar. Chem.. 27% 27% 27% 27% Wabash 7 7 7 7 Wabash Ist pfd. 19% 19% 19% 19% W. Maryland... 8% 8% 8% 8% West. Elec 44 43% 44 * 4:1% White Motors... 36% 353; 363* 35% Willys-Overland 6 5% 5% Wis. Central 24 2.3 24 White Oil 11% it% n% li | West. Pac 18% 17% 18% 19 •Ex-dividend. NEW YORK LIBERTY BONDS. —Oct. 18— Prev. High. Low. Close, close. Liberty 3%s ... 91.40 91.10 01.82 91.10 Liberty Ist 4s 92.40 92.00 Liberty 2nd 45.. 92.70 92.40 92.50 92.50 Liberty Ist 4%s 93.00 92.04 92.64 921)0 Liberty 2nd 4%s 9260 92.42 92.42 92.50 Liberty 3rd 4%s 94.7,8 94.60 94.62 94.66 Liberty 4th 4%s 92.58 92.74 92.72 92.88 Victory 3%s 99.40 99.36 ‘19.36 99.40 Victory 4%s ... 99.42 99.36 99.40 99.40 CHICAGO STOCKS. (By Thomson & McKinnon.) —Oct. 18Open. High. Low. Close. Armour pfd 91 Armour Leather 12% Carb. &. C'arb.... 43% 43% 43% 43% Libby 8 .... Natl. Leather... 6% Piggly Wiggly. 12% Reo Motors 18% 18% 1.8% 18% Stewart Warner 23 23% 23% 23% Swift & Cos 95% Swift Inter 22% NEW YORK PRODUCE. NEW YORK, Oct. 18.—Butter prices were firm in trade on the produce market here today, creamery extras selling at 47%@49e per pound; creamery firsts, 356(! 47c; higher scoring, 31@40%c; imitation creamery, fresh extras, 32<g33c. NEW YORK, Oct. IS. —Egg prices were firm on the produce market here today. Quotations were as fellows: Nearby white, fancy eggs, 87c; nearby brown, fancy, Go@69c; extras, 56@58c; firsts, 45 @soc. NEW YORK, Oct. 18.—Dressed poultry prices were firm here today. Prices were quoted as follows. Chickens, 20@38c; fowls, lS@37c; turkeys, 23(it50c; ducks. 29c. NEW YORK, Oct. IS.— Trade in cheese was rather quiet and prices were steady on the market here today. Whole tnilk specials sold at 22%©23c per lb; whole milk, fancy, 21%@22c; Wisconsin whole milk, fancy Young Americas, 31 %(g 22c; State Ewims. special, 146/15c; choice, 11 fa 13c; good, S@loe. NEW YORK RAW SUGAR. NEW YORK, Oct. 18.—The supply of raw sugar,was rather short here today, but it did not have a strengthening effect on the market. Cubas sold at 4.11 c per pound, duty paid, while Porto Ricos were quoted at 4c per pound, delivered. NEW YORK REFINED SUGAR. NEW YORK, Oct. 16.—Refined sugar prices were generally steady in trade on the market here today. Both fine granulated and No. 1 soft were quoted at 5.30 c per noHnd. NEW YORK COFFEE. NEW YORK, Oct. 18.—Trade la coffee was~steady on the market here today. Opening options were 3 to T points higher. Rio No. 7, on spot, sold at S@B%c. NEW YORK PETROLEUM. i NEW YORK, Oct. 18.—Trade la petroleum was again fair on the market here today and prices were firm. Pennsylvania crude petroleum eold at <3.25.

RAIL ISSUES MAKE RECOVERIES Much Better Tone Displayed in Late Trade in Stocks. NEW YORK, Oct. 18.—The news on the railroad labor situation was somewhat better this afternoon and stocks on the New York stock exchange responded. Rails recovered anywhere from 1 to nearly 3 points from the low prices of Monday. About the only exception to the general trend were the sugar stocks and Pullman. American Sugar common made anew record low below 49, while the preferred stock got within 1 point of its record low price, which was made nearly thirty years ago. . , , ... (.'all money was again freely supplied on the stock exchange at 4 per eent. Foreign exchanges were steady and marks, at the best figure of the day, showed a recovery of nearly 1-10 of a cent from the low. Kails and oils, which, led the decline Monday showed a better tone at the close, in respone to more reassuring statements on the railroad labor outlook. Sales of stocks for the day totalled 134,000 shares. (By Thomson & McKinnon.) Oct. IS— The stock maiket is usually a safe barometer, and unless we are very much in error in reading the signs, the threatened railroad strike will not materialize. The stock market has displayed a degree of stability that should not be ignored. Not only was there an absence of liquidation, but we actually had a <leinanjl for stocks, and especially for the standi rd rails. The business, as might have been expected, was on a moderate scale, but dullness under the circumstances is not an unfavorable factor. There will be time, enough for greater activity when the situation has been cleared and there can lie little doubt that the threatened labor controversy constituted the actual stumbling block in the market. It is the one factor that the leaders of finance and industry have constantly kept in mind, and now that it is before us, it will be settled in some way and then the business interests of the Nation will again have an opportunity to proceed with their plans of expansion anil development, and there will be found ample reason for both. We look forward hopefully and would | regard any declines in the market, in : the near future, as opportunities for intending buyers. TWENTY STOCKS AVERAGE. NEW YORK, Oct. 18.—Twenty industrial stocks Monday averaged 69.46, off .63 per cent. Twenty active rails averaged 70, off 1.15 per cent. CLEARING HOUSE STATEMENT. NEW YORK, Oct. 18.—Exchanges, $764,000.060; balances, $79,500,000; Federal Reserve Bank credit balances, $55,900,000. Money and Exchange Indlaanpolls bank clearings Tuesday were $2,999,01(0, against $2,694,000 for Tuesday of the week before. NEW YORK, Oct. IS— Foreign exchange opened steady today with demand Sterling %c higher at $3.91. Francs yielded 6 centimes to 7.19 e for cables, and 7.18 c for checks. Lire rose 2 points to 3.90 c for cables and 3.89 c for checks. Belgians francs declined 9 centimes to 7 09j for cables and 7.08 c for checks. Marks were ,0054%c. Guilder cables were 34.51 c; cheeks, 34.49 c. Sweden kronen cables were 23.06 c; checks, 23.63 c. Norway kronen cables were 13.17; checks. 13.12 c. Denmark kronen cables were 19.32 c; checks, 19.27 c. NEW YORK CALL MONEY. NEW YORK. Oct. 18—Money: Call money ruled 5 pe r ent; high, 5 per cent; low, 4 per cent; time rates steady, all rates 5%6j5%. Time mercantile paper quiet; call money in London, 2%. Sterling exchange was weak, with tusiness in bankers' bill at $3.89% for ilemaud. MOTOR SECURITIES. (By Thomson & McKinnon.) —Oct. 18— —Closing— Bid. Ask. Briscoe 9 10 I’ackard com 474 5% Packard pfd. 57% 58% Peerless 38 40 Continental Motors com 5 5% Continental Motors pfd 78 83 Hupp com 10% 11% [ Reo Motor Car 18% 18% Elgin Motors 4 4% Grant Motors 1% 2’, International Motor com... 26 National Motors 2 4 Paige Motors 11 .... Republic Truck 8% ACTIVE OIL STOCKS. (By Thomson A McKinnon) -Oct. 18.— —Closing— Bid Ask Anglo-American Oil 16% 17 Atlantic Lobos 7% s% Borne-Scrymser 325 35U Buckeye Pipe Line SO 82 Chesebrough Mfg. Cons 143 133 Continental Oil, Colo 11l 118 Cosden Oil and Gas 5% 6% Crescent Pipe Line 27 29 Cumberland Pipe Line 122 127 Elk Basin Pete 6 6% Eureka Pipe Line 83 86 Galena-Signal Oil, Prof 81 88 Galena-Signal Oil, Com 43 50 Illinois Pipe Line 160 164 Indiana Pipe Line 81 81 Merritt Oil 9% 9% Midwest Oil 2% 3 Midwest Bfg 130 160 National Transit 28 29 New York Transit 143 130 Northern Pire Line 88 92 Ohio Oil 268 272 Oklahoma P. A R 4% 4% Penn.-Mex 22 24 Prairie Oil mid Gas 515 545 Prairie Pipe Litre 193 197 Sapulpa Refg 3% 3% Solar Refining 355 370 Southern Pipe Line 82 85 South Petiti Oil 188 193 Southwest Penn Pipe Line.... 54 58 Standard Oil Cos. of Iml 76 76% Standard Oil Cos. of Kan 580 600 Standard Oil • 'o. of Kv 390 400 Standard Oil Cos. of Noli 160 170 Standard Oil Cos. of X. Y. ...331 337 Standard Oil Cos. of Ohio ....38! 390 Swan A Finch 30 35 Vacuum Oil 270 273 Washington Oil 32 36 NEW YORK CURB MARKET. (By Thomson A McKinnon.) —Oct. 18— —Closing— Bid. Asked. Curtis Aero, com 1(4 2 Curtis Aero, pfd 10 16 First National Copper 86 1(f) Goldfield Con 5 7 Havana Tobacco .1 1% Havana Tobacco pfd 4 6 Jumbo Extension 4 6 International Petroleum .... 14% 14% Nlpissing 5 5% Standard Motors 3% 4% Salt Creek 12% 12% Tonopah Extension 1% 1% Tonopah Mining 1% 1% Fniteil p. S. new 1% 15 16 U. S. Light and Heat 1% 17-16 C. S. Light A Heat ptd. ... 1% 1% Wright Martin 2 5 Yukon Gold Mine Cos 1% 1% Jerome 12 22 New Cornelia 13 14% United Verde 26 27 Sequoyah 10 20 Omar Oil 90 94 Rep. Tire 17 25 NEW YORK WOOL. NEW YORK, Oct. 18.—Wool prices were steady in trade hero on rtre market today. Domestic fleece, Ohio, sold at 23@38c per pound; domestic pulled, scoured basis, at 18© 67 c and Texas domestic, scoured basis, at 40@75c. NEW YORK METAL MARKET. NEW YORK, Oct. IS.—Copper—Easy; spot to December offered, 12%c. LeadDull; spot to October offered, 4.80 c. Spelter—Steady; snot to October offered, 4.72 c; November, 4.80 c. NEW YORK TURPENTINE. NEW YORK, Oct. 18.—Turpentine Sold at 75c per gallon In trade on the market here today. NEW YORK HIDES. NEW YORK, Oct. 18.—Hide prices ruled steady on the market here today. Native steer hides sold at 14%c per pound and branded steer hides at 14c.

INDIANA DAILY TIMES, TUESDAY, OCTOBER 18,1921.

New York Bonds (By Fletcher American Cos.) FOREIGN GOVERNMENT BONDS. —Oct. 18.— Bid Ask Arg. (Unlisted) 5s Sent. 1, ’45.. 6 00% Belgian 6s Jan. 1, ’25 94% 95% Belgian 7%s June 1, ’45 100% 101 Belgian 8s Feb. 1, ’4l 100% 100% Berne 8s Nov. 1, ’45..., 102 103 Chile 8s Feb. 1, ’4l 98% 98% Chinese (Huk, Ry.) 5s June ’sl 46 47 Christiania Sot. 1, ’45 101% 102 Copenhagen 5%s July 1, ’44.. 80 % 81 Danish Mum 8s Feb. 1, ’46...102% 103 Denmark 8s Oct. la, ’45 105% 104 •Canadian 5%s Dec. 1, ’22.... 89% 91% •Canadian 5%s Nov. 1, ’23.... 88% 90% •Canadian 5%s Nov. 1, ’24.... 87% 89 •Canadian 5s Dec. 1, ’25 86 87% Canadian 5s Apr. 1, ’2O 93% 94% •Canadian 5%s Dec. 1, ’27.... 88% M)% Canadian 5%s Aug. 1, ’29.... 04% 95% Canadian 5s Apr. 1, ’3l 93 1)3% •Canadian 5s Oct 1, ’3l 83% S3 •Canadian 5%s Nov. 1, ’33.... 88% 89% •Canadian 5%s Nov. 1, ’34.... 85% 87 Canadian 5%s Mch. 1, ’37.... 89 89% •Canadian 5%s Dec. 1, ’37.... 89 % 91% •French (Viet.) 5s Opt., ’31.. 55% 57% •French 4s Opt, ’43 45% 47% •French (Prom )5s Issue ’20.. 65 % 07% •French 6s Opt., ’3l 66 68 French 8s Sept. 15. ’45 99% 99% •Italian (Tread.l 5s Apr. 1, ’25 38 39 •Italian (War) 5s 29 "0% .Tap (Ist) 4%s Feb. 15. ’25.. 83 84% Jap (2d) 4%s July 10, ’25 81'/, ,s4 : .Tap 4s Jan. 1, ’3i 67% 68% Norway 8s Oct. 1, ’4O 105 105% I Russian 6%s .line 18, ’19.... 15 17% I Russian 5%s Dec. 1. ’2l 13% 15Vi l * Russian 5%S Feb. 14, ’26.... 3 6 Sao Paulo 8s Jail. 1. '3O 97 97% Swedish (is June 15, ’39 89% 90% Swiss 5%s Aug. 1. ”29 92 92% Swiss Ss July 1, ’4O 107 107% TJ. K. 5U.s Nov. 1, '22 98u 98% T\ K. 5%s Aug. 1, '29 90 * 91% V. K. 5% Feb. 1, '37 88% hi) *U. K. (Victory) 4s Issue T 9. .293 307 *U. K. (W. L.) 5s Oct. ’22. .388 401 *U. K. (W. L.) 5s Fell. 1, ’29..375 389 Zurich Ss Oct. 15, ’45 102% 103% Brazil 8s 99 99% French 7%s 93% 94 Uruguay 8s 99 99% Argentine 7s 99% 99% •Internal loans. CORPORATION BONDS. Bid. Ask. Alum. Cos. of Am. 7s. Nov., '25, 98% 99% Am. Cot Oil 6s, Sept. 2, ’24... 90% 90% Am. Tel. 6s, Oct., ”22 99% 99% Am. Tel. 6s, Felu, ’24 98% 98% Am. Thread 6s, Dec., ’2B 97% 98 Am. Tob. 7s, Nov., ’22 100% 101% Am. Tob. 7s, Nov., ’23 101% 101% Anaconda 6s, .Tan., '29 91 91% Anaconda 7s, Jan., ’29 96 96% Anglo-Am. Oil 7%5. April, ’25.10154 102% Armour 7s, July 15, *3O 99% 100%* At. Kef. 6Vis, March, '3l 102% 103 Vi Bell Tel. of Can. 7s, April. '25. 97% 98% Beth. Steel 7s, July 15, '22...100% 100% Beth. Steel 7s, July 15, '23.... 98% 98% Can. Pacific 6s, March, '24 98% 98% Cent. Arg. Rv. 6s, Feb., '27. 85 86% C„ R. 1. P. 6s. Feb., '22 99% 99% Con. Gas Bs, Dec., ’2l 100 100% 1 Copper Exp. Bs, Feb. 15, '22.100% 101 Copper Exp. Bs, I’eb. 15, ’23.100% 101 Copper Exp. Ss, Feb. 15, ’24.101 101% Copper Exp. Bs. Feb. 15, *25.102 102% Cudahy 7s, July 15, ’2.7 99% 100 Fed. Sugar 6s, Nov., ’24 96 96% Goodrich 7s, April, ’25 94% 95 Gulf Oil os, July, ’23 9.8% 99 Gulf Oil 7s. Feb., '33 99% 100 Hocking Valley 6s, March, ”24. 95% 96% Humble Oil 7s. March 15. '23. 97% 98% Int. R. T. Bs, Sept. 22, '22.... 76 79 K. C. Term. 6s, Nov. 15. '23. 98 98% Kenn. Copper 7s, Fet'.. '30.... 96’,') 97 Laclede Gag 7s, Jan., ’29 93 94% Lig. & Myers 6s. Dec,, '2l 100 100% Proctor A G. 7s, March, ’22...100% 100% . Proctor & G. 7s, March, ”23.. 98 98% I Pub. Scr. N. J. 7s, March, "22.. 97Vi 98 \ ft. ,1. Reynolds 6s. Aug.; '22.100% 100% Scars Roebuck 7s, Oct. 15, "22. 99 99% I Sears-Roebuck 7s. Oct. 13, '23 . 98 98% Sinclair 7u.s, May 15, '25.... 93% Solvny & Cie Bs, (let., '27 100 100% Southern Rv. 6s, March, ’22... 98% 99 S. W. Bell Tel. 7s. April, ’25. 98% 98% Stand. O. (Cal.) 7s. Jan.. ‘51.104% 105 Stand.o.l X.Y.I 7s, Jan., '25-'31.102% 107% St Paul U U 5%5. Dec. 15, 35 97% .98% Swift. 7s. Oct. 15, '25 99% 100% Texas Cos. 7s. March 1,'23 100% 100% Utah Sec. 6s. Sept. I.*. '22... 92% 93% i West. Electric 7s, April. ’25.100% 101 Westinghouse 7s, May, '31....102% 103 Local Stock Exchange —Oct. 18STOCKS. Bid. Ask. I Tnd. Ry. A Light com 00 > ind. Ry. & Light pfd 75 i Indpis, & S. K. pfd 75 Inilpls. & N. W. pfd 75 Indpis. St. Ry 37 41 T. 11, I & L. pfd 50 T. 11., I. & E. pfd 15 T. II , I. & E. com 5 U T. of Ind. com 1 U. T. of Ind. Ist pfd 7 U. T. of Ind. 2d pfd 2 Advance-Rtimley com Advance-Rtimley ptd Am. Central Life Am. (Teoseting pfd % ... Belt R. It. com 56 66 Belt K. R. pfd 43 53 Century Blilg Cos. ptd 91 Citizens Gas Cos 22 28 Dodge Mfg. Cos. pfd 85 Home Brewing 52 Ind. Hotel com 60 Ind. Hotel pfd 93 Ind. Nat. Life Ins Cos 3% ... Tnd. Title Guaranty Cos 50 Ind. Pipe Lines 82 87 Indpis. Abattoir pfd 40 50 Indpis. Gas 41 49 Indpis. Tel. Cos. com 2 inilpls. Tel. Cos. pfd 90 Mer. Pub. Util, pfd 41% 51 Nat. Motor Car Cos 3 6 Pub. Sav. Ins. Cos 4% ... Tinub Fertilizer pfd 40 Stand. Oil of Indiana 75% 7,8% Sterling Fire Ins. Cos 6% 7% Van Camp Hdw. pfd 91 101 Van Camp I'rod. Ist pfd 101 Van Camp I’rod. 2d pfd 101 Vamlalia Coal Cos. c0m,... 5 Yandalia Coal Cos. pfd 5 10 Wabash Ry. com 6 8 Wabash Ry. pfd 18Vi 21 BONDS. Broad Ripple 5s 56 i Citizens St. Ry. 5s 65 70 Indian Creek Coal & Mine, ... 100 Ind. Coke & Gas 6s 90 Indpis. C. A South 5s KH Indpis. A Martinsville 55... 50 Indpis. Northern 5s 35% 41 Inilpls. A N. W. 5s 58 Indpis. & S. E. 5s 45 Indpis. S. A S. E. 6s 75 Indpis. St. Ry. 4s 47 52 Indpis. T. & T. 5s 68 Ind. Coke and Gas Os 92 T. H.. I. & E. 5s 46 U. T. of Ind. (is 47% 52% Citizens Gas* Cos. Os 73 80 Indpis. Gas 5s 71% 80 Kokomo, M. A W. 5s 77 Ind. Hotel Cos. 2d 0s 93 Indpis. Light A Heat 55.... 75 80 Inpls. Water 4%s 05 71 Indpis. Water 5s 89 91 Mch. TI. A L. 5s ■. 89% 97 New Tel. Ist 6s 94 New Tel. L. D. 5s 93% ... Sou. Ind. Power 5s 90 LIBERTY BONDS. Liberty Ist 3%s 90.50 90.86 Liberty Ist 4%s 92.90 93.16 Liberty 2nd 4%s 92.52 92.82 Liberty 3rd 4%s 94.00 94.86 Liberty 4th 4%s 92,80 93.00 Victory 3%s 99.30 99.50 Victory 4%s 99.24 Local Curb Market (By Newton Todd.) —Oct. 18.— Bid. Ask. Am. Hominy com 16 Burdick Tire and Rubber.... 1 1% Central and Coast Oil 1% 3 Choate Oil Corp l i% Columbian Fire Ins. Cos 0 7% Comet Auto 1% 2% Dayton Rubber Units 62 90 Elgin Motor Car 3% 5 Federal Fin. Cos. pfd 75 85 Federal Finance Cos. c0m.... 123 128 Gt. Sou. B. A R. Units 5% 6% Haynes Motor com H 8 Hurst A Cos., pfd 42 02 Hurst A Cos., com 1 1% Indiana National Bank 200 270 Indiana Rural Credits 49 62 Inilpls. Securities pf(l 1% •_>% Metro. 5-50 c Stores c0m..., 10 i;{ Metro, 5-50 c Stores pfd 28 32 Revere Motors % % Rauch A Long units 47 55 Rub-Tex Units 15 us State Savings & Trust C 0.... 89 93 Stevens-Duryea Units 43 50 U. S. Automotive Units 98 108 U. S. Mfg. Cos. Units 102 172 Victograph Products com... St 3

GRAINS SUFFER" FURTHER LOSSES Canadian Wheat and Lack of Export Demand Are Factors. CHICAGO, Oct. 18—Further slumps In grain prices on the Chicago Board of Trade today showed that the market was still under the bearish trend caused by the Government report on farm reserves. Large stores of Canadian grain and the apparent lack of export demand also contributed to the downward movement. Provisions were irregular. December wheat opened at sl.ll up lc, and closed at $1.05%, off 4%c. May wheat opened at $1.14, unchanged and closed 4c lower. December corn opened rt 46%c, up %c, and closed off %e. May corn opened at 51%c, %e higher, and closed off %c. December oats opened unchanged at 32%0 and closed off %c. May oats opened at 37%c, unchanged, and closed off %c. (By Thomson A McKinnon.) —Oct. 18Wheat —Yesterday's crop report has been variously construed, some arguing that reserves in first hands are inadequate. Whether or not this idea lie correct, the fact remains that there Is enough in the show windows and offering for sale to over-supply ull demands, Canadian competition was the most potent factor in the extreme decline a year ago and it is again all-powerful. Gulf exporters advise us that it is, and lias been, impossible to compete with Canadian prices. From time to time, we are told of export trade in tlplteil States wheat, in fact (he seaboard advises 500,000 bushels of this sort of business today. It usually develops that this trade is in durum wheat, which grain is selling fur December delivery in Duluth at 90 cents. It should not therefore be accepted as a reason for advancing' or ror even maintaining present values or rne crop, as a whole. The decline in price is said to have attracted foreign demand to the extent of a million bushels, probably half of it manitobas, but it is not possible to discover any Improvement in the investment demand. On the other hand, it is a fact that the flour trade has slowed down materially, shipments from western centers to the east being in anticipation of the close of navigation and not in the way of filling new sales. The market may have temporary rallies from the present level, but we believe the entire situation that is to say, offerings of available wheat and foreign demand, still spell lower prices. Com and Oats—Receipts of corn give evidence of falling off and there has been a small export inquiry and trade. The market has encountered a good demand for the December delivery, presumably on the theory that prevailing prices are so low that farm use will lie materially increased. Considerable changing is going on In oats in the way of selling December and buying May. The outlet for the cash article is poor, further sales to go to store being made today. These markets will probably be slightly influenced by the weakness in wheat, but we deem it inadvisable, to become overconfident of lower prices. Provisions —The general tone of the provision list ts easy in expei tation of lower hogs and because of the European situation. Offerings were not large and the market was steadied by a little short covering.

CHICAGO GRAIN TABLE. -Oct. 18- | WHEAT— Open. High. Low. Close. Dec 1.11 1.11 1.06 1.05% May.... 1.14 1.15 1.06 1.10 CO UNDee 40% .46% .45% .46 May.... .51% .51% .50% .51% oats— Dec S’ -i .32% .32% .32% .37% -37% .36% .36% PORK—•Jan 15.00 LARD—•Oct 9.00 Jan 8.70 8.75 8.63 8.65 RIBS— Oct 6.30 6.35 625 6.f5 .Tan 7.52 J.N? 7.50 7 50 RYE— Dee 88% .% .82% .62% Jan 92 .92 Vi -57% .SS •Nominal. CHICAGO CASH GRAIN. CHICAGO. Oct. 18—Wheat No. 1 hard winter, $1.10%; No. 2 liar,! winter, $1.07. Corn —No. 2 mixed, 44%6i 45%*': No. '2 white, 45@43%e; No. 2 yellow, 4n6/45%c; No. .3 mixed, 45c; No. 4 mixed. 4" ; No. 4 white, 43%e. oat* —No. 2 white, 32%6i 33%c; No. 3 -white, 29%*§31%c; No. 4 white, 28%©29%c. TOLEDO GRAIN PRICES. TOLEDO, Oct. 18.—Wheat—Cash, $1.19; December, $1.20%; May* $1.26 1 " Cash, 514(520. Oats—Cash, 36'0350. Rye —Cash, 83c. Barley—Cash. 63c. PRIMARY MARKETS. (By Thomson A McKinnon) —Oct 18— RECEIPTS. Wheat. Corn. Oats. St Joseph 50,000 25.000 6,000 Chicago 57.000 B(4.iMi 20,00 Milwaukee .. 8.000 81.000 127,000 Minneapolis . 517,000 25,00(1 05.000 Duluth 685,000 80,000 76,000 St. Louis 143,000 109,000 76,000 Toledo 15.000 15,000 19,000 Detroit 5,000 6,000 8,000 Kansas City.. 219.000 33,000 20,000 Peoria , 5.1,(.8)0 13,00i) Omaha 7. 04.00) 14.000 12,000 Indianapolis... 3,000 SO.'KIo 102,000 Totals 1.766.000 1,376,000 753,009 Year a g 0... 1,799,000 825,000 915,000 SHIPMENTS. Wheat. Corn. Oats. Rt. Joseph.... 26.000 14,000 Chicago 9,000 215,000 60,000 Milwaukee ... 6,009 179,000 ..9,000 Minneapolis . 231,(XX) 34,000 82,000 Duluth 250,000 • • • ■ ••••. Rt. Louis .... 113,000 80,000 111,000 Toledo 4,000 8,000 Kansas City.. 232,000 31.00 29.000 Peoria 22,000 ,),0(l0 Omaha 17,000 57,000 54,000 Indianapolis... 1,000 11*000 28,000 Totals 035,000 717.<0 125."0" Year ago... 814,000 199,000 353.000 CLEARANCES. Wheat. Corn. Oats. New York.... K 75.000 Galveston .... 109,0(0 Totals 087.000 Year ago... 479,000 INDIANAPOLIS CASH GRAIN. —Oct. IS— Bids for cir lots of grain and hay at the call of the Indianapolis Board of Trade were: Wheat —No sales. Corn—Easy : No. 2 white. 47@4Se; No. 3 white, 406; 47e: No. 2 yellow. 476)49c; No. 3 yellow, 46@48e: No. 2 mixed, 47© 48c; No. 3 mixed, 46@47%c. Oats—Easy; No. 2 white, 34%@35%c; No. 3 white. 33%6>33%e. Hay—Sternly; No. 1 timothy, [email protected]; No. 2 timothy. $16,506(17: No. t light do ver mixed, SIOO/16.50; No. 1 clover, sl6© 17. —lnspections Wheat—No. 1 hard, 1 car: No. 2 hard, 3 cars; sample, 1 car; total, 5 cars. Corn —No. 1 white, 16 curs; No. 2 white, 7 cars; No. 3 white, 1 car; No. 6 white, 1 car: No. 1 yellow, 19 cars; No. 2 yellow, 8 cars: No. 3 yellow, 1 car; No. 1 mixed, 1 car; No. 2 mixed, 3 cars; No. 3 mixed, 1 car: total. 5S cars. Oats —No. 2 vvhiet. 5 cars; No. 3 whit". 29 cars; No. 4 white, 16 cars; total, 50 cars. Rye—No. 2. 1 car. HAY MARKET. The following are the Indianapolis prices for hay by the wagon load, delivered ; Hay—Loose timothy, $17@18; mixed hay, $16@17; baled hay, $17@19. Oats—Bushel, new, per bushel 34@37c. Corn—Old, per bushel, 50@60c. WAGON WHEAT PRICES. Indianapolis flour mills and elevators today are paying $1.12 for No. 1 red winter wheat; sl.lO for No. 2 red winter wheat and according to test for No. 3. Oats are quoted at 25c for No. 3 white or better. TOLEDO SEED PRICES. TOLEDO, Oct. 18.—Cloverseed—Cash and October. $12.50; December and January, $12.50: February, $12.60 asked; March, $12.45. Alsike—Cash and October, $10.75; December, $11.00; March, $11.15. Timothy—l92o cash, $2.70; 1921 cash and October, $2.80; December. $2.85; January, $2.90; February, $2.95; March, $3.00.

DECLINES TOUCH SWINE VALUES Hog Prices Being 45 Cents Lower—Cattle Trade Dull. RANGE OF HOG PRICES. Good Good Good Oct. Mixed. Heavy. Light. 12. $8.65 $8.63@ 8.75 $8.65 13. 8.40® 8.50 8.40 8.40 14. 850 8.50® 8.65 8.60 15. 8.85 8.85® 8.99 8.85 17. 8.85 8.85® 8.85 8.85 IS. 8.40 8.40 8.40® 8.50 With receipts around 12,00*0 and large receipts and lower prices elsewhere, swine prices were generally 45 cents lower In trade on the local live stock exchange today. Local packers took their usual quotas at the opening of the trade, but there was some doubt at first as to whether or not there would be a shipping demand sufficient to clear the remainder of the receipts. Later in the trade, local packers took more swine and shipping orders came in. in sufficient number to take practically all of the remaining hogs. Ail good swine brought $8.40, while a few pigs sold at $8.50. These swine are in demand at the present time because they can be sold to the trade without curing and consequently are moved faster than the other grades. There was a fair demand for roughs, i which brought $7.50 and down. | Good grades of stags were also in deI maud, and some of this grade brought i around the same prices as tome of the roughs. Trade-in cattle was again dull, with receipts light and the quality generally poor. However, there were a few steers sold at slightly higher prices, due to the scarcity of that grade, but these •totles were exceptions and could not be considered as being within the general market. Receipts for the day ran dose to 350 fresh, with considerable stale stuff held over. There was a dull tone to -rade in calves, due to large receipts and a rather slow demand by Eastern houses. Prices were generally 25igf>0e lower, but there was a top of' sls on a very few choice veals. Sheep were steady and lambs 50c lower, with receipts around 000, (he quality generally poor and lower price tendencies and large receipts on outside markets. ! A few choice ewe and wether lambs brought SB.

HOGS. Best light hogs. 100 to 2CO lbs. average 8.40© S.oa Over 500 lbs 8.25© 8.41) 200 to 309 lbs 8-40 _ Rows 7.00@ T.-iO Stags 5.006( 0.0 Best pigs, under 140 IPs 3 00© 0.50 Top ! 830 Bulk of sales 8.40 CATTLE. Prime cornfed steers, L3OO to 1,860 7.00© 8.00 Good to choice steers 1.200 to 1,300 Ibs 7.00@ 700 Good to choice steers, 1,000 to _ __ 1,200 lbs 6.20@ 6.i5 Good to choice steers, 1,000 to 1.100 lbs 5-25© 6.25 Common to medium tteer* 800 to 1,000 lbs. 4.73© 3.25 —Heifers and Cows — Good to choice heifers Medium heifers 5.23© f1.20 Common to medium heifers .. 4.00© 5.25 Good to choice cows 3.oo<j|f 4.50 Fair to medium cows 2.00© 3.08 Cutters 1-75© 2.13 Cauners 5© —J9 —Bulls— Good to choice butcher bulls.' 4 50S S.oO Bologna bulls 3.50 m 4.73 Light bologna bulls 3 00© 3.75 Light to common bulls 3.00 —Calces— Choice veals f12.00@12 50 Good veals 9.00© 10.00 Medium veals 7.00© 8.00 Lightweight veals 4.o'*© 6.00 Common heavyweight veals . 4.00© 3.0) —Stockers ana Feeders — Good to choice steers, unde” 800 lbs 5.00© C.OO Medium cows 2.00© 3 39 Good cows . 3.00© 400 Good heifers 5.50© i-OO Medium to good heifers 4.00;® 5.00 SHEEP AND LAMBS. Kwes 2 00© 3.00 Bucks 1.50© 2.00 Choice ewes and wether lambs 7.OD© 8.00 Seconds 3.00fe 8.(0 Buck lambs Culls 2.00© 3.00 Other Livestock CHICAGO, Oct. IS.—Hogs—Receipts, 30,000; market irregular; lights and butcher grades, mostly 25c lower; packing grader, lOOloe lower; bulk of sales.

87.254.' M. 50; top, $8.60; heavies, $7.85© 8.5<); mediums, $5.20©8.50; lights, sß.lo© 8.50; light lights, $8©8.50; heavy packing sows, smooth. [email protected]; packing s*>"s, rough, $0.2547,6 s5 : picks, [email protected]. Cattle -Receipts, 13,000; market generally steady; beef steers, choice and prime. $9 25(11,11.73; medium and good, $0.35© 10.15; good and choice, [email protected]; common and medium, [email protected]; butcher cattle, heifers, [email protected]; cows, [email protected]; bulls, $5.25©6.50; cauners and cutters, cows and heifers, [email protected]; tanner steers, |[email protected]; calves, sß© 11.50; feeder steers, $4 85©7; gtoeker steers, [email protected]; stocker steers and heifers, $3.25@5. Bheep and lambs —Receipts, 16.000; market steady; choice lambs, [email protected]; culls and common. [email protected]; yearling wethers, [email protected]; ewes, [email protected]; cull and common ewes, [email protected]; breeding ewes, $3.5i()@0.50; feeder lambs, $6.75©7.75. CLEVELAND, Oct. 18.—Hogs—Receipts, 2,000; market .-.teady to 25 cents lower; yorkers. $9.25; mixed. $9: mediums, $9: pigs. $9.25; roughs, $7.50; stags. $5.50. Cattle—Receipts, 400; market. slow and dull: good to choice steers, sß@s,so; good to choice heifers, $5.50© 6.50: good to choice cows, $16(4.73; good to choice bulls, $36(1; fair to good cows, s2'<(3 : milkers. $35©75. Sheep and lambs —Receipts, 1.000; market, 25 cents lowVr generally ; top, $8.25. Calves —Receipts, 300; market, slow and dull; top, sl2. EAST BUFFALO, Oct. IS—Hogs -Receipts, 2.100; market active; yorkers. $9 2,3; pigs, $9.254f9.50; mixed, $9,256? 9.50: heavies. $9.25; roughs. $7.25; stags. $46(5. Cattle—Receipts. 200; market slow; shipping steers. $5(?;9.35; butcher grades, $7,506(8.50: heifers, $4.75@8; cows, $24(5.50; feeders, $5©5.50; bulls, [email protected]. Calves —Receipts, 200; market active; cull to choice. ss6i 13. Sheep and lamlis—Receipta, o.ooo; market alow; choice lambs, ■88.50418.75: culls to fair, ,s3@B; yearlings, $54(6.30; sheep, [email protected]. EAST ST. LOUIS. Oct. IS.—Hogs—Receipts, 13,500; market, 106? 15c higher; mixed and butchers, [email protected]: good heavies, $8,256/8.50: roughs. $5,506(7: lights. $8.456(18.55: pigs, $8.336#8.55; bulk of sales. $8.4067,8.33. Cattle—Receipts, 6,000; market steady to higher: good cattle. irregularly higher; native beef steers. $86(8.60; yearling steers and heifers. SB6? 9: cows', $36(4.75; Stockers and feeders, $36(5.50; calves, 'slo6# 10.50; cauners and cutters, $26/3.25. Sheep and lambs—Roeeipts, 2.500; market steady; mutton ewes, $36(4: choice lambs. [email protected]; cauners and choppers, $1.50@2. PITTSBURGH, Oct. IS.—Hogs—Receipts. 1,000: market, 13 to 25 cents higher: prime heavies, $9; mediums, $9.15© <1.”5; hcavv yorkers, [email protected]; light yorkers, $9.256(9.40; pigs, $9,406/9.50; roughs, $7@S: stags, $46/5; heavy mixed, $9,106(9.25. Cattle —Receipts, Jess than ioo; market, steady; choice, $5.50©8.80; prime, $7,504/8: good, $0 756/7.50; tidy butchers. $0,506(7.25; fair, [email protected]; common. [email protected]; common to good fat bulls, $46/5.50; common to good fat cows, $265 5.50; fresh cows and springers. $354(85; veal calves, sl2: heavy and thin calves, $46/S. Sheep and lambs—Receipts, 1,500; market, steady; prime wethers, $4.756(5; good mixed, $4,256(4.60; fair mixed. $3.25 6(4: culls and commons, sl@2; lambs, $8.50 down. CHICAGO PRODUCE. CHICAGO, Oct. 18.—Butter—Receipts, 12,433 tubs; creamery extras, 44@44%c; firsts, 356(4,3c; packing stock, 23@24c. Eggs—Receipts, 5.200 cases; current receipts, 414#42c; ordinary firsts, 394140 c; firsts. 43@45c; checks, 23@25c; dirties. 256(27e. Cheese—Twins, new, 19%@20c; daisies, 21@21%c; young Americas. 204/ 20%c; longhorns, 19%@20c; brick. 20%@ 21c." Live poultry—Turkeys, 30c; springs (not quoted): roosters, sli? geese, 23c; ducks, 26c. Potatoes—Receipts, 161 cars; Wisconsin and Minnesota whites, $1.70@ 2.10 per 150-lb. bag; Red Rivers and Chios, [email protected]; South Dakotas, $1.70© 1.85,

MEN AND BUSINESS By RICHARD SPILLANE v Special to Indiana Daily Times and Philadelphia Public Ledger. On the Road, Oct. IS. ABOUT as good a gauge as any one can get on the character of a city is by its Chamber of Comerce. A man who has visited many cities and been in close contact with the commercial organizations in a lot of them can give helpful suggestions, or thinks he can, to various of them. On the whole, he has found the bodies active, alert and enterprising, but there are glaring exceptions. Here is an example. In one city that has great natural advantages chamber officials were asked to call in leaders in the various lines of business. The chamber people pointed out that the time was very short and it was doubtful whether the gentlemen could be assembled with- 1 out more notice. The visitor said his experience hail been that it was easier to get men together on short notice than long, and suggested it be tried. The chamber people were sure it would be fu- | tile. They were polite but positive. Next it was suggested that the meet- 1 ing be set for the following day. This the chamber people said would be much better, but, unfortunately, there was a board meeting that day, and there was so much business to be transacted by the board that' its time would be fully employed. The stranger was asked If he would make out a list of the men or departments of business, the leading representatives of which he desired to meet. The visitor said he would and he did. The chamber people told him who, in their judgment, had full knowledge of conditions in these various fields of endeavor. When the list was completed the visitor examined it carefully. To the best of his belief it would take several days to call on all the gentlemen and i the probability was that he wuold have difficulty in reaching some of them. There would not be that freedom of expression or comprehensive view that comes f.om the gathering of a considerable number of mru for a common purpose. The particular city to which 'his illustration applies has not been making headway in recent years as have some cities m tire same geographical division of the United States, despite the fact I that Its competitors have not its natural advantages md in some cases have heavy handicaps. The spur of necessity has given to them a spirit o’ enterprise. They don’t look for reasons why things canot lie done, but they go ahead and ! do what 3houlil be done. They act. They : don t delay, procrastinate and dawdle, j A Chamber of Comerce can be a great | asset or a heavy liability to a city. There are various cities that need nothi ing so much as wideawake, earnest, proi gressive men in their great commercial j organizations. • * • f~\ LE HANSEN, who, as mayor of ! I 1 Seattle, become a national figure I i n a day and then resigned from office and went on the lecture platform, |ls a back number. Local people give credit to him for sincerity, but say he was wholly misinformed as to conditions at the tiuie of the labor trouble in the Seattle territory. TEA ROOMS are extraordinarily popular in San Francisco. In some of them patrons have to wait in hour to get a table. They are most artistically decorated and daintily furnished, and most of them are located in alcove like recesses and unexpected places that are particularly attractive to femininity. Off the shopping district you find these nests with nothing to guide you a small end lucor.spicuous sign. Isually I the tearoom is In a bit of an alley and you go bv quaint bookshops, odd stores or curio establishments before discovering the entrance. The doorway is a floral bower. lie whole effect is charming and, strange to relate, tearoom prices, all things considered, are moderate. anv women are said to go to these tearooms to get ideas for adornment of the home.— Copyright, 1921, by Publi>Ledgcr* Company.

Weather 1 The following table shows the state of the weather at 7a. tn„ Oct. 18 as ob-i served by United States Weather BuStation. Bar. Temp. W eather. j Indianapolis, Tnd.. 29.S'J 58 U o .'!*!'. Atlanta, Ga 30.02 62 I tCldy Amarillo, Texas.... 30.tK 50 I tCui> . Bismark, N. I) 29.84 40 Cloudy j Boston, Mass. .... 30.12 52 Cloudy ; Chicago, 111 29.72 54 PtCldy Cincinnati, Ohio .. 29.84 60 Cloudy i Cleveland, 0hi0.... 29.78 62 Cloudy Denver, Colo 29.96 56 PtCldy i Dodge Citv. Kan... 30.06 48 Clear | Helena, Mont 29 90 5S Cloudy j Jacksonville, Fla... 29.92 60 Cloudy Kansas Citv, M 0... 29.96 54 Clear ; Louisville. Ky. ... 29.88 60 PtCldy | Little Rock, Ark... 29.94 60 Clear j Los Angeles, Cal.. 29.86 60 Clear j Mobile, Ala 29.90 60 Clear New Orleans, La... 29.94 68 Clear j New York. N. Y 30.10 56 Cloudy Norfolk. Va 30.10 60 PtCldy Oklahoma City...., 29.98 52 Clear j Omaha, Neb 29.90 46 Clear ; Philadelphia. Pa... 30.10 54 Cloudy; Pittsburgh. Pa 2*9.90 58 PtCldy Portland. Ore 30.14 44 Cloudy Rapitl City. S. D. 29.90 54 Cloudy Roseburg. Ore 30.06 58 Cloudy San Antonio, Texas 30.00 64 Clear Sun Franeisco, Cal. 29.96 60 Clear St. Louis, Mo 29.92 58 Clear St. Paul. Minn 29.80 44 Clear Tampa, Fla. 29.88 72 Cloudy Washington, D. C.. 30.06 58 Cloudy WEATHER CONDITIONS. since Monday morning some rains have fallen between the upper and middle Mississippi valleys and the western Lakes region. In the north Pacific States, and in southern Florida. Elsewhere generally ! fair weather has prevailed. Temperatures. as a rule, aro a little higher from j the Ohio River eastward, and somewhat lower westward and northward to the Great Plain*. In the no; them Red anil middle Missouri valleys the tempera to res are about the average for yie season, but elsewhere throughout the interior the readings are above normal. The main highways of the State are in fair to good condition, but rough ia places where too little or improper work has been done.

Mmm Wafer Works Company /t' Cumulative first Preferred Stock -- ' § Par value. Accumulative fst Preferred Stock, Non-Assessable Free of All Tax. Dividends Payable Quarterly This Issue Is Authorized by the Public Service Commission. MUMCOE WATER WORKS CO. E| Indianapolis Money to ban on Mortgages STATE LIFE i£ CO. 8 BUY GREAT SOUTHERN PRDDUC- NEWTGN AND ING & REFiNittG STOCK - Jl SELL 415 LEMCKE BLD3, TIJIJD

STEEL MARKET ! IMPROVING IN, 1 HEAVY FORMS, w Demand for Structural Steel, Plates, Etc., Affects Pittsburgh Stocks. NEW BUILDINGS GO UP Special to Indiana Daily Times and Philadelphia Public Ledger. PITTSBURGH, Oct. IS.—More strength has been manifested in the iron and steel trade over the last week. Cutting of prices is conspicuously smaller, although a lower range is expected when a cut in freight rates becomes effective. Pipe mill products are very steady in price, the recent reductions in official prices having fully liquidated the situation. Iu bars, shapes and plates there is a slightly steadier market. Predictions continue to be made that the winter or early spring will bring an additional revival in steel demand, pari ticularly in the direction of railroad buyI ing and buying for large construction proje-ts. There is some hesitancy now in placing orders for lighter forms that lead the revival, but heavier forms are coming j more into demand. Sheets and wire j orders are. in good volume, but not bit ! good as before the advance, because many | customers covered at that time, j INCREASED DEMAND i FOB STRUCTURAL STEEL. I The tin plate season is waning. Against j this there is greater demand for stnic- ! tural steel plates, etc. While conditions for large construction jobs have | greatly Improved, it is too late in the j year for this to have much effect and the greater revival in structural demands| is, therefore, expected to come earlier in* 1 the new year. The Equitable Life Insurance Company !is planning a building in New York ! that will require S.OOO tons. Bids have 1 been closed on 1.000 tons for the Guar- | antee Security Discount building, at Aki ron. Ohio, and the Municipal Railway I Building requiring 1,500 tons, at Detroit. American Bridge Company has taken 2,000 tons for the extensions and new building of the Beil Telephone Company iin Pittsburgh. McClintic-Marshall Company has been awarded 900 tons for a ! combination church and office building, I Los Angeles; 780 tons for a hotel, Wash- ; ington, Pa.: 450 for a building for the ; American Tar Products Company, Chica- ; go; 350 for an office building in Detroit, ' and 280 tons for a wharf in Kahulur, i Island of Maui, Hawaii, j Os structural steel work about 30 per ; cent is for plates. South Pennsylvania Oil Company is in the market for four I 55,000-barrel storage tanks, for hich ! about eleven hundred tons of plates will be required. General Petroleum Comi pany, for 3,003 tons, and the Petroleum Iron Works, 1,800 tons for fifty stills for the Standard Oil Company. The American Locomotive Company placed an order for more than five hundred tons of plates. • . RAILROADS ORDER ] NEW EQUIPMENT. | Greenville Steel Car Company has i closed a contract with the Erie Railroad ; Company for repairing 1,000 cars. The Michigan Central has let repairs on sao forty-ton steel box cars and 250 fifty-ton steel twin hopper cars to the Illinois Car ' and Equipment Company. Big Four lias iet repairs on 500 fifty-ton all-steel box ! cars to the American Car and Foundry I Company. j Bangor & Aroostook Railroad has or-f dered 209 steel frame tox cars from the Standard Steel Car Company. Smokeless Coal Company has placed l'O mine cars ' with the Pressed Steel Car Company. Arj gentina is inquiring for 500 gondolas and I Sao Panio-Rio Grande Railroad, Brazil, is j Inquiring for 230 miscellaneous cars.— , Copyright, 1921, by Public Ledger Comj pany.

Fire Department Auto Kit; Tw o Are Bruised An automohite of the fire department ! driven by Bert Umbersaw, in which Battalion Chief Jess Hutsell was riding, collided with an automobile driven by Wil- i | liam F. Spangler. 1459 North Delaware , street, at Michigan and Illinois streets, I last night. The fire chief's automobile J turned over twice. Both firemen were] : cut and bruised, but neither was seriously] I injured/ A street car had stopped at ; : the corner to permit the firemen's automo-] : bile to pass. Spangler is alleged to have | ; driven past the street car and to have j hit the other automobile broadside.] j Spangler was arrested on the charge of j ! assault and battery and passing a street 1 car while passengers were getting 02, _ vtj * hi _■j. J 5 Communists Held ] in Stresemann Plot BERLIN, Oct. IS.—Five communists were arrested today charged with attempting to assassinate Gustav Streiemann, leader of the Gorman People's party. Shots were fired at Herr Stresernsmn while he was presiding at a recent convention of the German People's party. | CLEVELAND PRODI'CE. CLEVELAND. Oct. IS.—Butter—Extre, in tubs. Slft/olbkc: prints, 52@53*4c: extra firsts, SOtLCiObjc: firsts. 49ft/49!Sc; packing stock. 23@250: seconds, 40@40>4c. Eggs—Fresh gathered northern extras. 52c; extra firsts, 518; Ohio firsts, new cases, 47c; old cases, 46c; western firsts, new cases. 4c. Poultry—Live, heavy fowls. 200.27 c light folws. 180’20c: roosters. 15c: light springs, 20c; live spring ducks, 23ft/20c. Potatoes—Jersey. $3,100; 3.50 per 100-lb bag. Sweet potatoes, good, s3.'Jo@4 per bbl. WHOLESALE BEEF TRICES. The following are today's wholesale prices for beef cuts as soul by the Indianapolis markets of Swift & Cos.: Ribs—No. 2,24 c; No. 3.15 c. Loins — No. 2,2 Se; No. 3, 200. Rounds—No. 2. 15c: No. 3,12 c. Chucks—No. 2. 12c; No. 3, Bc. Plates —No. 2,9 c; No. 3. Bc.