Indianapolis Times, Volume 34, Number 144, Indianapolis, Marion County, 27 October 1921 — Page 10

10

BUYING IS LESS URGENT, VOLUME OF TRADE SMALL Prices Affected, With Few Exceptions, by Heavy Offerings. GAINS FOR SPECIALTIES Special to Indiana Daily Times and Philadelphia Public Ledger. By MONITOR. NEW YORK, Oct. 26.—Trading In stocks was in somewhat less volume and the action of the market Indicated that the technical position hgd been weakened by recent covering. At tiny rate, buying was less urgent and selling had more effect on prices. The low priced oils were still bought vigorously, but there was evidegpe of heavy offerings of stock elsewhere thAughout the list. Rails, in par ticular, showed a tendency toward easing, although there is not a strong belief the strike will take place. Asa matter of fact, the outstanding examples of strength in the market were furnished by the specialties, among which were Coca-Cola'and Endicott JoJhnson. Woolworth alsqt made a gain of lpore than two points. Among the oils the best showing was made by Royal Dutch. Altogether, the market indicated plainly the activity of professionals, many of whom either were taking profits or turning to the short side. Aside from news ticker items, nothing further was heard about the prospect of deferring the German reparations payments. One of these items mentioned well-informed banking authorities for the assertion that Germany's cash payments not only would be deferred until February, but that aside from payment In material, there might be no further Xeparations payments for several years $o come. United States Steel and other steel shares responded only moderately to the telatively favorable statement of the steel Corporation. According to the Iron Age, the steel Industry is looking forward to • reduction in freight rates, and this expectation has been responsible for the Withholding of some business that othervise might have Jjaen put through.— Copyright, 1921, uy Public Ledger Company. WALL STREET GOSSIP BY MONITOR. Under cover of the strength in the lowpriced domestic oils stocks there was a large volume of profit taking sales elsewhere. This was true particularly in the railroad grouji which refused to respond at any time to strength in other parts of the list. Traders attached more significance to these conflicting movements than did houses which have been active in inaugurating and carrying through the present advance in prices. These firms still are committed to the constructive side of securities prices. It wa3 reported that the Durant interests have placed an order with the -Continental Motors Company of Detroit •having an aggregate value of $21,000,000. In certain inner circles of the motor industry. it is believed Mr. Durant and his associates presently will announce the organization of another motor corporation and it is understod the financial requirements for this new undertaking have been met.

As between Missouri Pacific preferred a*,ii St. Paul preferred statisticians in some large offices are advocating the purchase of the former. The buying of both of these stocks recently has been of excellent quality, but from the statistical standpoint it is believed Missouri Pacific preferred will be placed on a dividend basis before St. Paul preferred. Some houses which have b.-en accumulating the stock suggest that payments will be resumed by next spring . Union Oil was one of the aggressively strong domestic oil stocks, and advanced to a hew high for the present movement. There is excellent reason to lie Sieve fliat negotiations with tl>e Royal Dutch Company have been—concluded whereby 76 pt r cent of Union Oil of Delaware passes to the foreign company. This carries a large holding in Union Oil of California. * • • There are reports in the sugar *rade of anew corporation to be formed v hich in sir.o will exceed the American Sugar Refining Company. It is understood several' of the large independent owners ol producing properties in Cuba bav<* held conferences looking to this end. .although it probably still be several motirhs before tn * details have been completed. • • • •Coca Cola was one of the strong specialties of the,day's market. Recently a semi-annual dividend of $3.50 per share was declared and gossip had /it that the last of the high-priced sugar bought by '-he company would be used this month, thereby paving the way for a renewal of dividends on the common stock. Directors, are expected to meet within the next few weeks anil it is understood the question of dividends will be discu*e<l seriously at that time. * • • United States Steel was firm, although relatively inactive. The weekly reviews peinted out that expected reductions in rnlght rates have had the effect of restraining new business and that some decrease In prders has been apparent. Unofficial reports are" to the effect that the steel corporation is operating at 50 per cent of capacity and that new business is being received at the rate of 21 - 000 to 22,000 tons daily. * * * The report that an American consul had been stabbed at the consulate at Mexico City bronght some hurried selling into Mexican Petroleum. The announced failure of the negotiations for a loan to that country has brought a damper on the speculative enthusiasm. Further reductions in automobile prices were announced by both the Cole and Hupp companies and this served to bring some 'jelling into this group. The recent advance in these stocks lias been largely at the expense of the short interest and trader- now are inclined to sell them on rallies. A large operator who took the constructive side of Baldwin Locomotive six weeks ago is understood to have sold ■ is specuiatN*: lin* and turned to the I hort *'de. Some coserv.-rs thought they lIW evldenc* of a. resumption of activUT on the buying side by a pool which has not been active recentlv. There were large offerings of stock ‘just above 90.—CopyMght, 1921, bv Tublic Ledger Company.

Local Curb Market

(By Newton Todd.) —Oct. 26 , _ , Bid. Ask. Am. Hominy com 16 Burdick Tire and Rubber ... l 1% Central and Coast Oil 1 2’4 Choate Oil Corp 1 Columbian Fire Ins. Cos C 7% Comet Auto 1% o% Continental Natl. Bank .....111 * 121 Dayton Rubber Units 62 79 Elgin Motor Car 3% 5 Federal Fin Cos. pfd 75 g. 5 Fed. Fin. Cos. com 120 128 Gt. Sou. P. & R. Units .... 5% y. Burst & Cos., pfd. ...: 42 ’ 62 Hurst & Cos., com 1 J% Indiana Trust Cos 175 399' Indiana National Bank 260 270 ndlana Rural Credits 49 62 Security Trust Cos 130 Metro. 5-50 c Stores com 9 12 Metro, 5-50 c Stores pfd 27 31 Revere Motors % % Rauch & Lang Units 45 53 Rirb-Tex Units 15 17 BANK STOCIvST Merchants National Bank ...2SO .... State Savings & Trust Cos. .. 89 93 Stevens-Duryea Units 42 50 IT. S. Automotive Units 100 U. S. Mtjr Cos. Units 162 172 Wash. Babk & Trust C 0.... 150 .... TOLEDO SEED PRICES. TOLEDO. Oct. 27.—Cloverseed—Cash, October lend December, $12.50; January, $12.65; February, $12.75; March, $12.50 asKeii. Alsike —Cash and October. $10.75; December. $11; February and March, $11.25. Timothy—Cash, 1920. $2.75; cash, 1921. and October. $2.55; December $2.90; January, $2.95; February, $3; March, $3.05.

N. F. Stock Exchange

(By Thomson & McKinnon.) (By Thomson & McKinnon) —Oct. 27 Prev. High. Low. Close, close. Mlied Chemical 40% 46 40% 46% Ajax Rubber... 21 20% 21 20% Allis Chalmers. 36% 33% 33% 33% Am. Agricul.... 31% 551% 31% 551% Am. Beet Sugar 27 27 27 26% Am. B. Mag. Cos. 35% 35% 35% Am. Car & Fdy.l3olfc 130 130% 129% Am. Can 27% 26% 27% 27% Am. K. tc L. pf. 53 52 52 52 Atlantic Pete 21% 21% 21% 22% Am. luternatl... 33% 33% 33J4 33% Am. Loco 92 90% 91% 91% Am. Sint. & Ref. 37% 37 37% 37% Am. Sugar Ref. 53 52% z 53 52% Am. Suina Tob. 36% 35% 36% 36% Am. Steel Fdy. 24% 24% 24% 24% Am. Tel &*Te1..108% 10S 108% 108% Am. Tobacco.. .125% 123% 125% 122% Am. W001en.... 76 74% 76 75% Anaconda Min.. 40% 4040% 40% Atchison 86 85% S6 85% Atl. Gif. &W. 1. 30% 30% 30% 30% Baldwin Loc... 90% 88% 90% 89% B. <!c 0......... 3i% 36% 31 36% Beth. Steel (B). 54% 52% 54% 53% Califor. Pete... 43% 42% 42% 43% Can. Pac. 1ty...112% 111% 152% 111%, Cent. Leather... 28% 28 29 25% Chandler Mot... 45 44 44% 43% C. & 0 54% 54% 54% 55% C. M. & St. P.. 23% 23’%, 33% 23% C.M. & St.P.pfd. 37% 36% 37% 20% Chi. &. N. W.... 67 05% 07 00 C„ It. 1. A P... 53 31% 32% 31% C.R I.AP.o%i'fd.. 07 05% 07 06 Chili Copper.... 11% 11% 11% 11% Chino Copper... 25% 25% 25% 25% Coca Coia 39% 3S->, 38% 38% Colum. Gas 02% 61% 01% 02 Colum. Graph.., 3% 3% 3% 4 Consol. Gas 91% 90% 91% 90% Cosden Oil 33% 32% 33% 30% Corn Products.. 81% 80% 81% 81% C. Steel 04% 02% 04% 03% C. Am. Sugar.. 14% 14 14% 14 Cuba C. Sugar. 7% 7% 7% 7% Del. & Lack. .100% 100 106% 100% Erie 12% 12% 12% 11% F. Players .... 03% 02% 63% 03% Gen. Asphalt .. 59% 57% 58% 3% Gen. Cigar? ... 58% 58% 50% 58% Gen. Elec 130% 130 130 13.0% Gen. Motors ... 10 9% 10 10 Goodrich 32% 32% 32% 33 Gt. North, pfd.. 70% 09% 70% 09% Gt. North. Ore.. 30% 30% 30% 30% Houston 0i1.... 50% 77% 78 7i% Haskell Barker. 70 OS 09% 08% Illinois Central. 90% 90% 96% • •••• Inspir. Copper.. 35 35 35 30% Invine. Oil 11% 11% 11% ill^ 1 Inter. Harvester 77 76% n <o;s Inter. Nickel.... 13% 13 13% 13% Inter. Paper.... 55% •''s3 54% >3% Is!. Oil & Tr... 3% 33% 3% Kan. City So 21% 23's 24% 26% Kelly-Spg. Tire. 42% 41% 4_ 42 Kennecott Cop.. 22% 21% 22% -l,r I.acka. Steel.... 40% 39% 40% 40 Lee Tire 28% 27% 2i% 28% Loews. Inc 13% 13% 13% 13% May Stores .... 85% 85% 85% 87% Marine C0m.... 10 10 10 .... Marine pfd .... 48 40% 46% 48% Maryland Oil.. 24% 23% 24% 23 Mout.-Ward 19% 19 19 19 Mex. Pete 100 103% im% 105% Miami Copper... 22% 22% 22% 22% Mid. S. Oil 13% 13% 13% 13% Midvale Steel... 24% 23% 24% 23% Mo. Pacific 19% 18% 19% 18% Mo. Pacific pfd. 42% 40% 41% 41 Nat. E. A 5.... 41 41 41 40% Nev. Con. Cop.. 12% 12% 12% 12% X. Y. Central... 71% 71% 71% 70% New Haven 15% 13% 13% 13% Nor. A West.... 94% 91% 94% 94% North. Pac 73 71 72% 71% Okla. P. A R.Co. 2% 2% 2% 2% Pac. Oil 47 43% 46% 43% Pan-Aui. Petrol. 45% 44% 45% 45% Penna. By 35% 35% 35% 35% People’s Gas .. 53% 52% 53% 52% Pierce-Arrow .. 16% 15% 15% 15% Pierce Oil Cos 7 6% 6% 7 Pittsburgh Coal 0:% 00% 00% 00% I’. Steel Car . 01 00 01 02% Pull. Pal. Car. 100% 99% 100% 99% Pure Oil 33% 33 33% 35% Reading 70% 68% t;9% 08% It. 1. A Steel . 49% 47Vi 49% 47% R. D. of N. Y.. 45% 44% 45 46% Sears Roebuck 68 07% 08 08% Sinclair 23% 22% 23 22% Sloss S. S. A 1.. 58 38 38 .37% South. Pacific.. 78% 70% 75% 70% South. Rv 19% 19 19% 18% St. 1,. A SW. Ky. 23' 21% 22 21% Stand. O. X. ,T. .150% 150 150% 150 Vi i St. L. A S. F. C. 22 22 22 21% Studebakcr 75 73% 75 74% Tex. Coal A Oil 27% 25 20% 25 Texas Cos 41% 40% 41% 41 Tex. A- Pacific.. 22% 21 w 22% 21% Tob. Prods 05 63% 6-5 63% Trans. Oil 9% 9% 9% 8% Union Oil 23% 22% _23% 23% Union Pacific ..119% 11.8% 119% 118 I'. It. Stores.... 53 52% 52% 51% U.S.F.P. Corp... 13% 12% 12% 13% Uni. Fruit Cos. 112% 111% 112*5 113 Uni. Drug 03% 02% 02% 03% U. S. Ind. A!.... 47% 46 47 40% U. S. Rubber... 50% 49 50 49% U. S. Stee] -80% 78% 80% 7!) U. S. Steel pfd. 110% 110% 110% 110% Utah <’opper .. 51% 53% 54 .53% Van. Steel 32% 31 32% 30% Vir-Car. Chem.. 28 28 28 28 Wab. Ist pfd... 20% 19% 19% 19% W. Maryland... 9 8% 8% 9 West. Union 84% 84 84% West. Electric.. 45% 35% 450, 45% Woolworth 119% 119 V. 119% 120 White Oil 13% 12% 13% 13% West. Tacific.... 20 20 20 NEW YORK LIBERTY BONDS. —Oct. 27 Prev. High. Low. Close. Close. L. B. 3%S 92.70 92.40 92.54 92.4) L. B. tod 4s 92.54 92.26 L. B. Ist 4%s .. 93.32 03.24 93.10 93.30 L. B. 2nd. 4%s .. 92 56 92.42 92.54 92.42 L. B. 3rd 4%s .. 94.96 94.82 91.90 94.86 1,. B 4th 4Vis .. 92.90 92.82 92 84 92.82 VirtVv 3%s ... 99.58 , 09.46 99.58 99.50 j Victory 4%s 90.60 99.4 4 99.58 99.44 CHICAGO STOCKS. (By Thomson A McKinnon.) —Oct. 27 Open. High. Low. Close. I Armour pfd 83 ! Armour Leather... 12% ] Carbide A Carlton. 43% 43% 43% 43% Libby 8 j Mont.-Ward 18% IS% 18% 18% National Leather... 6% Piggly Wiggly 14 Sears-Roebuc-k .... OS Stewart-Warner .. 24% 24% 24 24 Swift A Cos 97 Vi Swift International 23% 24 23% 24 NEW YORK SUGARS. AEW YORK, Oct. 27—ltaw Sugar prices were steady in trade on the exchange here today Cubas being quoted at 4.11 c per pound, duty paid, while Porto Ricos were selling at 4.'6%c per pound, delivered. . Refined sugar was steady, fine granulated selling at 5.20© 5.30 c per pound and No. 1 soft at o.SOc. NEW YORK METAL MARKET. NEW YORK, Oct. 27.—Copper—Dull; spot, October and November, offered, 12%e, Lead—Dull; spot, October and November offered, 4%e. Spelter—Dull; spot, October and November offered, 4%c.

Weather

Station Bar. Temp. Weather Indianapolis, Ind... 29.98 59 Cloudy Atlanta, Ga 30.10 52 Cloudy Amarillo, Tex 29.88 38 Clear Bismarck, N. D. .. 29.76 42 Cloudy Boston, Mass 30.42 38 Clear Chicago, 111 29.86 60 Rain Cincinnati, 0 30.08 52 Rain Cleveland. O 30 14 44 Cloudy Denver, Colo 29.78 36 Clear Dodge City, Kas... 29.88 34 Clear Helena, Mont 29.86 ,".8 Cloudy Jacksonville, Fla... 30.00 62 Rain Kansas City, Mo. . 29.92 46 Clear Louisville, Ivy 30.04 56 Rain Little Rock, Ark.. 29.98 54 Clear Los Angeles, Cai. . 30.08 54 Clear Mobile, Ala 30.04 64 PtCldy New Orleans, T.a... 80.02 6$ Clear New York. N. Y. .. 30.42 42 Clear Norfolk, Ya 30.28 58 I’tCldy Oklahoma City 29.92 48 Clear Omaha, Neb. 29.76 50 Cloudy Philadelphia, Pa. .. 30.44 44 Clear Pittsburgh, Ta 30.28 42 Clear Portland, Ore 30.10 48 Rain Rapid City, S. D. . 29.74 32 PtCldy Roseburg, Ore 80.20 46 Cloudy San Antonio, Tex.. 30.00 - 60 Cloudy San Francisco, Cal. 30.30 50 Clear St. Louis, Mo 29.90 E 0 Clear St. Paul, Minus.... 29.70 48 Rain Tampa, Fla 29.98 60 Cloudy Washington, D. C.. 30.38 46 Clear WEATHER CONDITIONS. Sinee Wednesday morning mins have occurred from tbe northern Red River Valley southeastward across Kentucky and Tennessee, and also in the north Pacific Region. It is somewhat warmer in northeastern sections, while temperatures have continued to fall over much of the Great Plains, where the readings are now somewhat below normal.

STOCKS SUSTAIN STRONG CLOSE Mexican Petroleum in Poor Demand in Final Hour... NEW YQRK, Oct. 27—The stock market closed strong today. There were some recessions from the high levels in tha last few minutes, but the tone on the whole remained strong. United States Steel continued In demand, selling up to 80%, and Baldwin touched 90%. The oil Issues continued in demand, with the exception of Mexican Petroleum. The railroad stocks also improved, Northern Pacific being 2 points above the low at 72%. and Southern Pacific over 1 point to 78%. Total sales of stocks were 675,300 shares; bonds, $16,529,000. (By Thomson A McKinnon.) —Oct. 27. — . . As might have been expected, opinions with reference to the railroad strike have changed frequently. One day, it looks as though a strike is inevitable, the next day, the power of the Government is counted upon to prevent the strike. But whatever the ultimate result may be, the fact regains that at no time has the matter been taken seriously by any market, which is supposed to and, ns a matter of fact, does indicate the true state of affairs as well as representing the composite judgment of the entire Nation. The only group of stocks today that suffered at all were the rails and hero it was but temporary and there was a surprisingly good demand for these shares and values responded readily and it would be difficult to explain such a development except on the theory that, while the surface may appear uncertain, there is really no cause to fear. Be this as It may, the industrial list has acted remarkably well. There is a dally demand for stocks and more recently activity and the advance noted in the oil group suggest the likelihood of developments pending that may result in a realignment of control of various companies. It may take on the form or a merger of some other form that will serve the purpose from an economic standpoint and in compliance with law. And this idea of merger is one to be counted upon as a very Important factor in the stock market lor the future. It is well known that during the war and post-war period, business was conducted on a basis that would not stand the test of world competition. Nowbusiness must adapt itself to new conditions and what wont Id b* more logical than an immediate recognition of this fact by the leaders of i idustry and finance. Ther are many indicators pointing toward this and in o tr opinion this will be accompanied by a considerable increase in market activity and advancing ! values. TWENTY STOCK AVERAGE. NEW YORK. Oet. 27.—Twenty Indus trial stocks Wednesday averaged 72.27. up .05 per cent. Twenty active rails averaged 71.40, off .42 per cent. CLEARING HOUSE STATEMENT. NEW YORK, Oct. 27.—Exchanges. $500,000,000; balances, $50,300,000, Federal Reserve Bank credit balances, $44,100,000.

Money and Exchange

Indianapolis bank clearings Thursday were $2,442,000, against $2,117,000 for Thursday of the week before. NEW YORK, Oct. 27.—The foreign exchange market opened weak today with demand sterling %c low at $393% and other exchanges declined. Fran yielded 2% centimes to 7.28 c for cables and 7.27 c lor checks. I,lres were 1 point lower at 0.93 c for cables and 5.92 jc for cheeks. Belgians francs declined 1% centimes to 7.14%c for cables, and 7.13 e for checks. Mnrks wero 3 points lower at ,0057%e. Guilder cables were 34.10 c; checks. 34.08 c. Sweden kronen cables were 23.10 c; cheeks, 23.1)5c. NEW YORK CALL MONEY. NEW YORK, Oct. 27.—Money—Call money ruled 5% per cent; high 0 per cent: low, 5% per cent. Time rates, steady all 5%©5%. Tiqje mercantile paper, steady. Sterling exchange was easy, with business in bankers’ bills at 3.92%c for demand. ACTIVE OIL STOCKS. , (By Thomson A McKinnon.) —Oct. 27 .•. —Opening— Bid. Ask. Anglo-American Oil 18 18% Atlantic liObos 11% 11% Borne-Scry mser 340 30n Buckeye l’ipe Line S3 85 Chesebrough Mfg. Cons 155 105 Continental Oil, Colorado... 122 127 Cosden Oil and Gas 'l. 5% 0% Crescent Pipe Line 28 30 Elk Basin Pete 6% 0% Eureka Pipe Line 85 92 Galena-Signal Oil, pfd 85 99 Galena-Signal Oil com 46 49 Illinois Pipe Line 166 169 Indiana Pipe Line 82 86 Merritt Oil 10% 11 ■Midwest Oil 2% 3 Midwest Kfg 155 165 National Transit ...‘ 28 30 New York Transit 148 v 153 Northern Pipe Line 85 90 Ohio Oil 277 282 Oklalhoma P. A It 4% 4% Penn.-Mex 25 30 Prairie Oil and Gas 540 560 Prairie Pipe Line 19.8 203 Sapulpa Rfg 3% 4 Solar Refining 37u 390 Southern Pipe Line 86 90 KoutlWenn. Oil 223 228 Southwest Penn. Pipe Lines 55 60 Standard Oil Cos. of Ind 79% 79% Standard Oil Cos. of Ky... . 400 420 Standard Oil Cos. of Neb 180 190 Standard Oil Cos. of N. Y 335 340 Standard Oil Cos. of 0hi0.... 370 390 Swan A Finch 30 40 Vacuum Oil 280 285 Washington Oil 25 30 NEW YORK CURB MARKET. (By Thomson A McKinnon.) —Oct. 27. —Closing— Hid Ask Acme Packing 85 90 Curtis Aero, com 1% 2 Curtis Aero, plu 10 15 Goldfield Con 5 10 Havana Tobacco-. 2 Havana Tobacco pfd .... 8 .Tumbo Extension 4 6 Imperial Oil (Del.) 8 8% International Petroleum .... 14% 14% Nipissing 5 5% Standard Motors 4 4% Salt Creek 12% 13% Toliopah Extension 1% 1% Tonopah Mining 1 5 10 1 7-10 United P S new 1 3-10 1% IT.1 T . S. Light and Iloat 1 5-10 1% U. S. Light and Heat pfd. .. 1% 1% Wright-Mnrtin 2 5 Yukon Gold Mine Cos 1% 1% Jerome 12 ■ _J New Cornelia 14% 15% United Verde 20 27% Sequoyah 5 10 Oivar Oil 97 98 ltep. Tire 15 25 NEW YORK ( OFir.E. NEW YORK. Oct. 27.—Trade in coffee was active and prices were steady on the market hero today. Opening options were 3 tq 5 points higher. Rio No. 7 on spot sold at 7%.@7%c per lb. NEW YORK RICE. NEW YORK. Oct. 27. Rice values were unchanged on the market here today, 1 mestic selling at 3%@7%c per pound. NEW YORK WOOL. NEW YORK, Oct. 27. —Wool values were steady in trade on the market hqre today. Domestic fleece, XX Ohio, sold at 23@38c - per pound: domestic pulled, scoured basis, at 18(f}67c, and Texas domestic, scoured basis, at 40@75c. NEW YORK TURPENTINE. NEW YORK, Oct. 27.—Turpentine sold at 80 cents per gallon o. the market here today. This quotation showed an advance of between 4 and 5 cents over the price of the previous day. NEW YORK HIDES. NEW YORK, Oet. 27.—Trade In hides was active on pie market here today and prices were steady. Native steer hides sold at 14%c per pound and branded steer hides" at 14e. NEW YORK PETROLEUM. / NEW Y'ORK, pet. 27. —Petroleum whs firm in trade on the market here today. Pennsylvania crude petroleum sold at $3.50 per barrel. .

INDIANA DAILY TIMES, THURSDAY, OCTOBER 27,1921.

New York Bonds

(By Fletcher American Cos.) FOREIGN GOVERNMENT BONDS. —Oct. 27 Bid. Ask. Arg. (unlisted) ss, Sept. 1, ’45 60% 07% Belgian os, Jan. 1, ’25., 94% 95% Belgian 7%5, June 1, ’45......100% 101% Belgian Ss, Feb. 1, ’4l j..,.100 110% Berne Bs, Nov. 1, ’45 .(...104 105 Chile Ss, Feb. 1. ’4l 98% 99% Chin. (Huk. ltv.) ss, June, ’sl 40 47 Christiana Ss, Oet. 1, ’45 102 103 Copenhagen 5%5, July 1, ‘44.. 81 82 Danish Mun Bs, Feb. 1, ’46....103 104 Denmark Bs, Oet. 13, ’45 103 103% ♦Canadian 5%5, Dec. 1, ’22... 91% 92% ♦Canadian 5%5, Nov. 1, ’23.... 89% 90% •Canadian 5%5, Nov. 1. ’24.... s;s% 89% ♦Canadian ss, Dee. 1, '25 83% 87% Canadian 5s Apr. 1, '26 9.’% 94% ♦Canadian 5%5, Dec. 1, 27.... 88% 89% Canadian 5%5, Aug. 1, '29 95 % 95% Canadian ss, Apr. 1, ’3l . 92% 93% •Canadian ss, Oct. 1, ’3l 83% 84% ♦Canadian 5%5, Nov. 1, ’33.... 88 % 90% i ♦Canadian 5%5, Nov. 1, ’34.... 80 87% Canadian ss, Melt. 1, ’37.. i ... 89% 90 ♦Canadian 5%5, Dec. 1, '37... 89 % 91% ♦French (Viet.) ss, Opt., ’31.. 56 58 •French ss, Opt., ’43 46 48 ♦French (Prom.) ss, issue ’2O .65 % 07% ♦French os, Opt., ’3l 00% 08 French Ss, Sept. 15, '45 99% 100 •Ifalinn (war) 5s 29 30 Tap (first) 4%5, Feb. 15, ’25.. So 80% Jap (second) 4%5, July 10, '25 85 85% Jap 4s, Jan. 1, 31 09 70 Norway Bs, Oct. 1, ’4O 104% 105 Russian 6%5, June IS, T 9 13 15 Russian 5%5, Dec. 1, ’2l 11 14 ♦Russian 5%5, Feb. 14, ’26.3 0 Sao Paulo Bs, Jan. 1, 30 97 9*% Swedish os, June 15, ’39 91 91% Swiss 5%5, Aug. 1. ”29 92 ; , 93% Swiss Ss, July 1, TO 10.% 108 U~ K 5',•55, Nov. 1, '22 98% 98% U. K." 5%5, Aug. 1, ”29 92% 92% U. K. o%s, Feb. 1. ’37 % W U. K. (Victory) 4s, issue 19.293 309 ♦U. K. (Var in.) ss, Oct. 1, ”22.390 405 *U. K (war 1.) ss, Feb. I, ’29.382 394 Zurich Bs, Oct. 15, 45 103 I<X> Brazil Ssh% 99% French 7%s W'.s Uruguary pjj Argentine 7s 09% 99% ♦lnternal Joans. CORPORATION BONDS. Bid. Ask. Alum. Cos. of Am. 7s. Nov., ‘25 99% 99% Ain. Cotton Oil os, Sept. 2, ’24 92% 93 Amer. Tel. Os, Oet., ’22 9% 1* Amer. Tel. Cs, Feb.. ’24 98% 9J ,s Amer. Thread. os, Dec. ’28... 97 98 t Amer. Tob. 7s. Nov., ’22 101 101% Amer. Tob. 7s, Nov., '23 101% 101 h Anaconda os, Jan., '29 92% Anaconda 7s. Jan., '29 97 , Angio-Am. Oil 7%5. Apr!., '25 102% 1"-- * 1 Armour 7s, July 15, '3O T'% Hu% I Atlnntle Ref. 6%5. M 'h„ ’3l. .102% PA Kell Tel. of Can. 7s, Apr.. ’25 97% 98% Beth. Steel 7s, July 15, ’22...P>0% 100% Beth. Steel 7s, July 15, ’23 99 % 99% Can. Pacific Cs, Mch. 2, ’24.. ‘US',* 00% Cent. Arg. Ry. os, Feb., ’27... fl% 80: |C„ R. I. & I'. os, Feb., '22.... 99% 100% : Con. Gas. Ss, Dec., '2l 100 100% j Copper Exp. Bs, Feb. 15, '22.-100% 101% Copper Ep. Bs, Feb. 15. ’23... lot % 101% Copper Exp. Bs, Fell. 15. '24.. 101% 101% Copper Exp. Ba, Feb. 15. ’25..102 102% Cudahy 7s, July 15, ’23 99% PH) I Fed. Sugar Os, Nov., ’24 90 % 90% I Goodrich 7s, Apri., ’25 95% 9>% Gulf Oil os, j.luly. '23 99 % 99 Gulf Oil 7s, Fell., '33 101 101%' Hi-king Val* os, Mch, '24 ... 95% 90 Humble Oil 7s, Mch. 15. ’23.. 98% 99 Int. U. T. 7s, Sept., '2l-22 73 73 K. C. Term ID. Nov. 15, ”23... 98% 98% Kenn. Copper 7s, Feb., ’30.... 9V% 98% , Laclede Gaa 7s, Jan , '29 93 93%j Lie. *St M vers Os, Dec., 21 100% P*o% < Proctor & G. 7s, Mch , ’22...100% 101 j Proctor & G. 7s, Mch.. ’23. ...lot 101% i Pub Ser. N. J. 7s, Mch., '22.. 71% 75% , It. J. Reynolds os, Aug. '22..100% 100% Scars Roebuck 7, Oct. 15, 22 99% 100 j ! Sears Roebuck 7s, Oct. 15. '23 99 % 99% | Sinclair 7%5. May 15, '25.... 93 % 94% ! Solvny & Cie Is, Oct., ’27. ...lot 101% j I Southern Ry. os. Mch.. '22 ... 99 99% S. W. Bell Tel 7s. Apr., ’25 . 99 99% Stand Oil (Cal.) 7s, Jan . ’3l 101% 105 S. Oil (N. Y.) 7s. J an., ’25-’3t PC% 107% St Paul I'. D. 5' 'S, Dec. 15, ’23 98% 98% Swirt 7s. Oct. 15, 25 99% P>% Texas i%. 7s, Mi 11. 1. ’23 10u% 101% Utah Sec. Os, Sept. 15. ’22.... 9:'.% 94 Western EL 7s, Apr . ’25 101 101% Westlnghouse 7s, May, '31... 102% 103%

Local Stock Exchange

Oct. 27STOCKS. Bid. Ask. Ind. By. & Light com 60 ind By. & Light pfil 75 Indpls. A S. K. pf(l 75 Indpls. & N. W. pfd 75 indpls. St. By 37 41 T. H., I. & L. pfd 50 T. H , I. & E. pfd 15 T. H, 1 & E. com * ... 6 C. T. of Ind. com 1 U. T. of ltd. Ist pfd 7 tl. T. of Ind. 2d pfd 2 Advance-Bum ley com 12% ••• Advance- Kuiuley pfd 37 Am. Central Life Am. Creesoting pf<l 91% 100 Belt K. K. coni >r.. 5(1 61 Belt B. B. pfd 43*4 fti Century Bldg. C->. pfd 0* ... Citizens Gas Cos 22% Bodge Mfg.- Cos. pfd 85 Home Brewing 51 ... Ind. Hotel com BO Ind. Hotel pfd 9-’ Ind. Nat Life Ins.'Co 3'4 ... Ind. Title (iuaranty Cos 50 Ind. l’ipo I.lues 80 88 Indpls. Abattoir pfd 4 50 Indpls. (las 41 Indpls. Tel. Cos. com 2 Indpls. Tel. Cos. pfd 1)0 Mer. l'ub. l til. pfd 42 52 Nat. Motor Car Cos 3 4Hi Pub. Sav. 1 os. Cos 4% ... Batth Fertilizer pfd 40 Stand. Oil of Indiana 711 81 Sterling Fire Ins. Cos 6*4 7% Van Camp Kdw. pfd 91 -101 Van Camp Prod. Ist pfd 101 Van Camp Prod. 2d pfd 101 Vandalia Coal Cos. com 5 Vandalia Coal Cos. pfd 5 10 Wabaedi By. com Wabash By. pfd 20 23 BONDS. Broad Bipple 5s JSO Citizens St. By. os 71 Indian Creek Coal & Mine. ... 100 Ind. Coke & Gas 6s 90 Indpls., C. <fc 53outh. 55.... 90 Indpls. & Martinsville 5... 50 Indpls. Northern 5s 38 43 Indpls. & N. W. 5s 50 Indpls. & S. E. 5* ... 45 Indpls. S. & S. H 5s 75 Indpls. St. By. 4s 47 53 Indpls. T & T. 5s Tnd. Coke and Gas Os 92 T. H., I. & E. 5s 4 F. T. of Ind. 6s 48 Citizens Gas Cos. 5s 75 82 Inilpli Gas 5s 72% 80 Kokomo, M. & W. 5s 7i liul. Hotel Cos. 2d 6s 93 Indpls. Light & Heat 5s 76 SI Indpls. Water Cos. 4158 O 7 74 Indpls. Water Cos. os 1 92 Mer. 11. & L. 5s New Tel. Ist Os v New Tel. 1,. D. 5a 93% Sou. Ind. Power 5s 89% LIP.KRTY BONDS. Liberty, first 4%s 92.32 02.52 Liberty, first 4%s 93.00 93.20 Liberty, second 4%s 92’16 92.36 Liberty, third 4Visf 94.68 94.88 Liberty, fourth 4Vis 92.60 92.80 Victory 3%s 99.22 Victory 4%s ( 99.22 99.42 INDIAv A POMS PRODUCE. Butter—Local dealers are paying 43(7® 46c per lb for butter delivered iu Indianapolis. Eggs—Loss off, 46(7®48c. Blitter—Packing stock, 19(b20c. Poultry—Fowls, 16@ 23c; springers, 17(7/24c; 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, 4 lbs and up, 18(7®20c spring ducks, 3 ifts and up, 20c; geese, 10 lbs and up, 12@13c; rabbits, drawn, per dozen, $3; squabs, 11 lbs to the dozen, $4.50: younp guineas, 2-lb size, per dozen, $7.50. Butterfat —Local dealers are paying 43e per pound for a butterfat delivered in Indianapolis. CHICAGO PRODUCE. CHICAGO, Oct. 27.—Butter —Receipts, 5.400 tubs; creamery extras, 45%c; firsts, 3#%@44%e; packing stock, 28@24e. Eggs IS(f?50e; ordinary firsts, 42@45c; firsts, 49(b|51%c; dairies, 21%@22e; Young Americas, 20%@21e; longhorns. 21@ 21%o; brick, 21%@22c. Live poultry— Turkeys, 28e; chickens, 17e; springs, 19c; roosters, 14c ; geese, 23e; ducks, 26e. Potatoes —Receipts, 111 cars Northern Whites. [email protected] per 150-11. bag; Dakotas, [email protected]; Idaho Russets, $2.25.

SLUMP IN GRAIN MART CONTINUES Receipts Are Heavy and Demand Is Extremely Poor. CHICAGO, Oct. 27.—The slump in grain prices, which started yesterday, continued on the Chicago Board of Trade j today. Small selling orders dominated the pit, with the commission house demand very light. There was some concern over the strike developments. Receipts were heavy. A generally pessimistic view prevailed. Provisions were irregular. December wheat opened unchanged at $1.07 and closed off %c. May wheat opened off %c at $1.11% and closed down %e. • December corn opened off %c at 47%c and closed off %e. May corn opened off c at 53%e and closed off -jc. Dceemter oats, after opening off %c at 33%e, closed down %c. May oats opened at 38%c, off %c, and closed off %c. (By Thomson & McKinnon.) —Oct. 27. ■Wheat—Liberal receipts of wheat in our own Northwest, as well as in Canada, gave a heavy tone to the early market. A natural reaction induced by destruction of Montreal warehouses containing one and one-half million bushels of wheat induced also by the absorption of all red winter wheat in Chicago by local miUer appeared in the market. Seulioard advices as to export trade are not quite as pessimistic, it being claimed that offerings of "distress'’ wheat were lessening, being also claimed that England had taken some Manitoba?. As to the probability of future foreign demand we note that Swedish farmers are disturbed by the fact that American wheat is offered freely at price 25 per cent cheaper than their own product. We note also that Germany is not expected to lie a buyer next spring. An estimate of the Argentine crop of 297,000,000 bushels has been criticised as not being commensurate with the official estimate of acreage. There have renewed estimates of the exportable surplus ol old wheat in Argentina, they being placed now at 47,000,000 bushels. The new crop is expected to furnish surplus of bushels. There are trade rumors that the recent estimate of reserves in the United States will lie revised downward. Whether or not there is any truth to these reports we Suggest that there should lie no permanent market effect from reduced estimates of reserves for the simple reason that there is no demand whatever for the reserves, tie they large or small. The taking over of red winter wheat in Chicago by a local mill results In the making of elevator space, which will probably be filled with other wheat from Western markets. As yet, we are not able to uncover sufficient news in the way of Improvement of demand to suggest any chaiyce in the underlying situation or anr permanent advance in prices. rorn and oats- -Current receipts of corn being light, showing relative i strength, the belter grades are now selli ing at a premium over the December. ' This is more nearly in accord with na- , tural conditions and is not a reason for expecting higher prices. The shipping demand for In th corn and oats continues poor. We believe both these grains will continue to lie 'n sympathy with the action of wheat. Provisions—Dullness characterizes the provision list, tint there Is a good d< mestic trade in meats and lard. A feature in the market is absence of important offerings.

CHICAGO GRAIN TABLE. —Oct. 27WIIEAT— Open. High. Low. Close. Dec 1.07 1.08 1.05% 1.06% May.... J.n% 1.12% 1.00% 1.10% CORN— Dec...., .47 *s .48% .47' 4 .47% Mav 53% .53% .52% .52% OATS— Dec .33% .33% .32% .32-7 i Mav 58% .38% .37% .37% I’OKK •Jan 13.00 LAItD - •Oet 9.50 Jan.... 8.90 9.00 .8.87 8.95 RIDS— Oct 8.50 5.75 5.00 5.30 Jan.... 7.55 7.75 7.00 7.55 II YE Dec 82 .82% .81 .8 May 86 .50% .85% -86 •Nominal. CHICAGO CASH GRAIN. CHICAGO, Oct. 27.—Wheat—No. 3 mixed, $1.03; No. 1 northern spring dark, i $1.30; No. 3 spring, sl.lß. Corn—No. 2j mixed, 47%c; No. 2 white, 47'tc: No. 2 I vellow, 47%fq 18%e; No. 3 mixed, 47c; No. 3 white, 47%c: No. 3 yellow. 47%0. Oats—No. 2 white. 33ftf33%c: No. 3 white, 30 %of 33c; No, 4 white, 2'.)'032%c. TOLEDO GRAIN PRICES. TOLEDO. Oet. 27.—Wheat Pash. $1 21; December, $1.23%; May, $1.27%. PornPash, 53'<t54c. oats —Pash. 37ni 39c. Rye —Cash, 82c. Barley—Cash, C3r. PRIMARY MARKETS. (By Thomson A McKinnon.) —Receipts Wheat Corn Oats St. Joo 24,000 10.000 2.000 Chicago 67,000 368.000 141.000 I Milwaukee .. 22.000 19.000 40.000 j Minneapolis . 685.000 21.00.) 116.000 1 Duluth 324,00!% 21.000 S,(HM> j St Louis 126.000 81,000 82,000 ! Toledo 4,000 2,000 i Detroit 1,000 5,000 6.000 j Kansas City.. 109,000 9.000 22.001)1 [V-,ria 1.000 62,000 67.000 j Omaha 1.x.000 15.000 1 t.ooo i Indianapolis.. 12,000 42,000 32,000 j Totals 1,393,000 656.000 532.000 ' Year ago... 1.216.000 405,000 577,000 ! —Shipments Wheat Corn Oats I St. Joe 17.000 I 6,000 S C|,b ag. • 60.000 21.000 130,000 j Milwaukee ... 4,000 8,000 47,000 Minneapolis . 215.000 7,<HW 98,000 j Duluth 307,000 St. Louis .... 73,000 50.000 Is.ooo | Toledo 22,000 1.000 19.000 i Kansas City.. 516.000 19.000 9.000, Peoria 7,000 80,000 63,000 Omaha 96.000 45.000 S.OOO Indianapolis.. 5,000 11,000 36.000 Totals 1,122,000 198,000 433,000 Year ago... 811,000 287,000 401,000 —Clearances— Wheat. New York 176.000 Baltimore 81.009 Totals 257,000 Year ago 997,000 INDIANAPOLIS CASH GRAIN. —Oct. 27Bids for car lots of grain and hay at the call of the Indianapolis Board of! Trade were: Wheat—Firm: No. 2 red. $125%07:1.26%. ! Corn—Easy; No. 2 white. 49(0 50e; No.-) 3 white, 48%(gi9%c; No. 2 yellow. 49(d) 51c; No. .3 yellow, 47%(b,45%c; No. 2: mixed, 48%<550%c; No. 3 mixed, 47%(b; 49 %e. Oats—Easier: No. 2 white, 30(037%o; No. 3 while, 34%(d35%c. Hay—Steady; No. 1 timothy, $174717 50; No. 2 timothy, $11.504717.50; No. 1 light clover mixed, sl6(f 10.50; No. i clover, $1041)17. —lnspections Wheat —No. 2 red, 1 car; No. 3 red, 2 ears; sample, 1 ear: total, 4 cars. Corn—No. 1 white, 3 cars; No. 2 white, 1 car; No. 3 white, 12 ears; No, 4 white, 4 cars; No. 5 white, 2 cars; No. 6 white, 1 car; No. 1 yellow, 10 cars; No. 2 yellow, 4 cars; No. 3 yellow, 5 cars; No. 4 yellow, 2 cars; No. 0 yellow, 3 cars; No. 2 mixed, 2 cars; No. 3 mixed. 1 car; No. 4 mixed 1 car; Not 5 mixed 2 cars; total, 53 cars. ' Oats —No. 3 white, 11 cars; No. 4 white, 2 cars; total, 13 cars. Rye—Sample. 2 cars. Hay—No. 1 timothy, 1 car. WAGON WHEAT PRICES. Indianapolis flour mills and eldvators today are paying sl.l<) for No. V red winter wheat; SI.OB for No. 2 red winter wheat and according to test for No. 3. Oats are quoted at 25c for No. 3 white or better. HAY MARKET. The following are the Indianapolis prices for hay by the wagon load, delivered ; Hay—Loose timothy, $17@18; mixed bay, $16@17; baled hay, $17@19. Oats—Bushel, new, per bushel 34@37c. Corn—Old, per bushel, 55@'00. TANK WAGON PRICES. Indianapolis tank wagon prices for gasoline today were: Red Crown, t9.6c per gallon; Silver Flash, 231-3 c: Keystone, 23%c. Perfection kerosene is selling 10 %c.

In the Cotton Market

NEW YORK, Oct. 27.—The cotton maryet. was under further selling pressure carte’ today. After the start offerings increased and prices sold about 18 points net low-er. The unsettled railroad labor situation, with poor cables, Wall street and New Orleans selling caused most of the early weakness. The buying was for Japanese and trade account. Prices at the end of the first fifteen minutes were 4 to 0 points up from the lowest. New York opening cotton prices: Deeember, 18.70 c: January, 18.45 c; March, 18.30 c; May, 17.90 c; July, 17.52 c; September, 17c. The market showed a firmer tone in the late dealings, closing at a net gain of 38 to 46 points. —Cotton FuturesOpen. High. Low. Close. January 18.45 10.05 18.40 19.03 March 15.30 18.90 18.24 18.85 May 17.93 18.10 17.80 18.40 July 17.52 18.00 17.38 17.90 December 18.70 19.20 18.62 19.16 COTTON REVIEW. NEW YORK, Oct. 27—The reactionary movement that developed yesterday was continued this morning for a few moments, when another moderate loss was established, but on the rle'-line a demand was encountered which was sufficient to absorb the floating supply of contracts and during the greater part of the day the market displayed considerable stability’. The more confident feeling with regard to the outcome of the railroad labor controversy was undoubtedly a contributing factor to the market's improvement. So fur as fundamentals are concerned, we can see no change that would warrant a permanent bearish position. Tbe last estimate we have from the Government still stands as the last word on the subject. Assuming that the crop was underestimated to the extent of 10 per cent, which would lie a very liberal allowance for error, the total would still be small enough to warrant existing valueg. The market may, for a while, continue as it has been doing, fluctuating within a liberal range, but at around this level we continue to feel that the better opi portunities are on the buying side. LIVERPOOL, o<-t. 27.—There was a good inquiry for spot cotton at the ojiening of the market here today. Prices were easier aud sales, 7,000 , bales. American middlings, fair, ll.SOd; good ; middlings, 13.00d ; fully middlings, 12.53d; I middlings, 12.15d; low middlings, 13.00d; j fully middlings, 12 55; middlings, 12.15d; I low middlings, 10.95d; good ordinary, | 0.63d : ordinary, 8.90d. \Futures opened steady.

WHOLESALE FEED PRICES. Ton. Cwt. Acme Bran $21.75* sl.lO Acme Feed 21.75 1.10 Acme Middlings 24.75 1.25 Acme Dairy Feed 40,00 2J)5 E-Z-Dairy Feed 29.25 1.50 Acme 11. & M <• 28.50 1.45 ('. O. A It. Chop 22.00 1.15 Acme Stock Feed 22,1X1 1.15 Acme l%rm Feed 27.25 1.40 Cracked Cora 26.50 1.33 Acme Chick Feed 34.75 1.80 Acme Scratch 31.75 1.85 E-Z-Scratch 29.25 1.50 Acme Dry Mash 38.75 200 Acme Hog Feed 33.50 1.70 Ground Barley 32.25 1.65 Ground Oats 27.75 . 1.45 Ilomlic-k, yellow 23.25 1.20 Rolled Barley 34.75 1.80 Alfalfa Mol 30.50 1.55 Cottonseed Meal .'4B 00 245 Linseed Oil Meal 48.50 2 50 Tankage 52.50 2.75 Meat Scrap 75.00 4.00 FLOUR AND MEAL. E Z-Bake bakers’ flour in 98-lb. cotton bags $7.65 Corn Mtal in 100-lb. cotton bags.... 1.50 CLEVELAND PRODUCE. CLEVELAND. Oct. 20.—Butter—Extra, in tubs, OUuvUjc; prints, 52(<i52%c; extra firsts, 50(u50%c; firsts, 49(g49%c: seconds, 40@40%e; packing stork, 2tfe£2sc. F.ggs—l-'ri sh gathered, northern extras. 50c; extra firsts, 53c; Ohio firsts, new cases, 50c; old cases 49c; western firsts, ned cases, 46c. Poultry—Live, heavy fowls, 23fe.27e; light fowls, 17@18e; roosters. 13c; tight spring. 17!ql8e; live spring ducks. 25(0 27c: turkeys, 35@40c. Potatoes -Jersey, <3 !0:q:3.50 per 159-lb. bag; sweets. $3.25(jj3.50 per barrel, SL6O per hamper. Keep ’Em Up With Gold Pieces in Paris PARIS. Oct. 28.—1 tyo really love your lest girl, hand her a couple of quarters or g couple of S2O gold pieces with which to keep her stockings up. Milo. Suzanne Lenglen, woman tennis champion of tlie world, inaugurated the lad. She found that the round garter—(lie only kind they wear In France—bound licr leg too tightly and shut off 1 Thod circulation. She discovered that by placing a French “sou" or penny in the roll of her stocking, twisting it several times and then tucking # in at the top site had au a ituirab’e garter. French girls were lyilck to seize the opportunity to demand gold pieces—and they are very rare in France—of their lovers. One I-’rcneh actress announces that she now keeps hers up with gold pieces studded with diamonds.

A Splendid Tax Exempt Investment

Indianapolis W ater Company This issue Is exempt from all Indiana taxes and the normal Federal Income Tax. SIOO Shares s ©- Dividend checks, mailed direct to you January 1, April 1, July 1 and October 1 of each year. Preferred as to dividends and assets. Price SIOO a share and accumulated dividend. Yielding Full 7 Per Cent Interest /

Breed, Elliott & Harrison Fletcher American Cos. I(fr N. Pennsylvania St. 2nd Floor Fletcher Bank Bldg. INDIANAPOLIS All statements herein are based upon information which we regard as reliable, and, while not guaranteed by us, constitute the facts upon which we ourselves have acted in purchasing this stock.

HOGS 25 TO 50 CENTS HIGHER Cattle Values Hold Calves Sharply Lower. RANGE OF HOG PRICES Good Good Good Oct. Mixed. tieavv. Light. 20. SS.OO SB.OO SB.OO 21. 8.35 8.15® 8.25 8.33® *-50 22. 8.40 8.25 8.50® 8.60 24. 8.25 8.2 > 8.25® 8.35 25. 7.30 7.65® 7.90 7.90® 8.00 26. 7.75 7.65® 7.75 8.00 '7. B.oo® 8.25 B.oo® 8.10 8.25® 8.65 With receipts light, the shipping demand good and higher pricey tendencies on other markets, swine prices advanced 25 to 50 cents in trade on the local live stock exchange today. Lights sold at $8.25(0:8.50, with a few at SS.CS, while a few light lights and pigs sold at $8.75. Mixed sold at s'■©B.2s and heavies at SB©.S,IO. Roughs brought $6.50(07.25, with a few sales at slightly higher prices, and stags sol' 1 at s.V>f7. Receipts for the day ran close to 0,09>t, the bulk of which were taken by sldppers, who established the market. Local packers got only a few scattered | bunches of swine. | The bulk of tbe sales for the day ranged at [email protected]. I Trade in cattle was active, but there was not the incentive for packers to buy ‘ that there was on the market of the i previous day. There were not so many really good'eattie for sale and receipts were light nt around 400. I Prices were generally steady, with tlie | exception of a few sales of_ extra good I heifers at\prices that were 25 to o 0 cents | higher. There was only one load of I steers on the market that were equal in quality to anything Mint was offered for sale on the Wednesday market. A part j of this load brought SS.oO, some $8 and ' a few $9.15. , i Bulls were in fair demand at steady ! prices. Car.ners and cutters, such as were offered, were steady. ! Calves were 50 cents to $1 lower, with redpts light, the quality generally poor i and >he demand by Eeastern shippers I slow. There was an extreme of sl’- ! on choice veals, whereas a top of sl3 was i maintained on the market of the previous Sheen and lambs were steady, with receipts' and quality fair and the demand good. Choice ewe and wjther *ambs brought SB. - HOGS. ! Best light hogs, ICO to 190 i lbs average $ S.2o@ S.Ou ! Ov*r 300 lbs 8.00 | 190 to 300 lbs Tr.... B.ooq. S.jjo I Sows ‘-;'J Best pigs, under Tit) lbs S.OOfd 8.10 j Top 8.70 Bulk of sales B.oo@ 5.50

CATTLE. Prime cornfed steers, 1,500 to 1.890 lbs 7.75® S.oO Good to choice steers 1,500 to 1,300 lbs 7.50® S.OO Good to choice steers, 1,160 to 1.200 lbs COO® 7.00 Good to choice steers. LOW to 1,100 lbs 5.50® 6.00 Common to medium steers SOO to 1,000 lbs 3.00® 5.50 —Heifers and Cows— Good to choice heifers 7.09® 900 Medium heifers 5.23® 0.75 Common t 1 ’ medium heifers.. 4.75® 5.25 Good to choice cows " 09@ 4.23 Fair to medium cows 2.00® 3.00 Cutters 1.75® 2.75 Cauuers 75© 2.00 —Bulls— Good to chiee butcher bulls. 4.06® 4.50 Bologna bulls 3.5c(i; -M)0 Light bologna bulls 3.00© 3.5’1 Light to common bulls 2.50© 3.00 —lalves— Choice veals 11.00® 12.00 Good veals 9.00® 10.00 Medium veals &.<*,'/ 9.00 Lightweight veals 500© 7.00 Common heavyweight veals . 4.50© 5.0> —Stockers and Feeders— Good to choice steers, under 800 lbs 5.00© C.OO Medium cows 2.00© 5.00 Goods cows 3.00© 4.00 Good heifers 5.50® 7.09 Medium to good heifers .... 4.0.© 5.00 SHEEP AND LAMBS. Ewes 2 00© 3.09 Bucks 1.50©' 2.00 Choice ewes aud wether lambs 7.50©) 8.50 Seconds 6.50© 7.00 Buck lambs 5.00© 6.50 Culls 2.00© 3.00 Other Livestock CHICAGO. Oct. 27—Hogs—Receipts. 31,000; market, mostly 25 cents higher: bulk of sales, $7 40©'$; top. $8.50; heavies, s7.6o©s; mediums, [email protected];

Money to Loan on Mortgages 'S LIBERTY oiSpE™ SELI, 415 Lemcio Bids. TODD

We Offer $348,000 Indianapolis Water Company Cumulative 7% First Preferred Stock This company has operated successfully sinee ISSI. supplying water to the city of Indianapolis. Physical and replacement value of the company’s property appraised at $17,530,000; the Indianapolis real estate alone is valued at over $2,500,000. After deducting the funded debt of $6,030,000, there is an equity of $11,450,000, or over 13 times the total ef preferred s.ock. The net earnings for twelve months ended August 31, 1921, were $336,022.46, which is nearly 6 times the dividends on all outstanding preferred stock. We recommend your purchase of this issue.

lights, [email protected]; light lights, [email protected]; heavy packing sows, smooth, $6.61©,7.25; packing sows, rough, $r>.25©6.73. Cattle —Receipts, 13,000; market, steady to slow. Beef steers: choice and prime, [email protected] ; medium and good, $6.35© 10 50; good and choice, [email protected]; co muon and medium, $5©9.75. Butcher cattle: heifers, $t©9.75; cows, $3.75© 6.75; bulls, [email protected]. Canners and cutters: cows an t heifers, $2 50® 5.75; j canner steers, $3.25©4; good to choice veal calves, $7.36© 12; feeder steers, $5.25©7.25; Stocker steers, si®7; Stocker cows and heifers, [email protected]. Sheep aud lambs—Receipts, 23,0-0; market, steady; choice lambs. $8©9.25; cull and common lambs. $5.50© 7.’. o; yearling wethers, $5.50© 7.75; ewes, [email protected]; cull and common ewes, $1.75® 3; breeding owes, $3.30©0.50; feeder lambs, $i.75®7.85. CINCINNATI, Oet. 27.—Ilogs— Receipts, 4,500; market, 25©50c higher; all grades good swine. ss."o; roughs. 86.75; stags, $3.75. Cattle —Receipts, 2,000; market, steady; bulls steady; calves. sl2. Sheep and lambs—Receipts, 1,209: market steady; ewes, sl@4; bucks, $2.50; choice hunt s, 89; seconds, $7; culls, s3@4. CLEVELAND, Oct. 27.—Hogs—Receipts, 4,090; market, 25 cents higher; yorkers, $8.50; mixed, $8.50: mediums, ! 88.50; pigs, $8.50; roughts, $7.25; stags, • $5,25. Catt.e —Receipts, 600: market ] steady; good to choice sters, $S@9; good I to choice heifers. $5©7.50; good to choice i cows, s4©s; good to choice bulls, $-*©d; fair to good cows, ?2©3: milkers, s3s© 75. Sheep and lambs—Receipts, 1,500: i market, 25 cents higher; top, $9 59. ; calves —Receipts, COO; market, strong; j top, $13.59. ■ EAST ST. LOUIS, Oet. 27.—Hogs— Re- ! ceipts, 7,W0; market, 35 to 50 cants bigh■er; mixed and butchers, S7.BS©S; good heavies, $7.03® 7.80; -Roughs, $5.25©6.50; • pigs, sß© 8.50; hulk of sales, $7.83©8. Cat- | tie—Receipts, 3,000; market, strong and i active; native beef steers. [email protected]; [ yearling steers tad heifers, $S®lO: cows, • $3.25©5; st ickers and feeders, $3©0.23; I calves, slo@ir2s: canners and cutters, j $2.25©3.25. -Sheep and lambs—Receipts, ! 1,500; market, steady; mutton ewes, $4; j choice lambs, ss©s.so; canners and choppers, $1.50©2. : EAST BUFFALO, Oct. 27.—Hogs—Re-*’ ceipts, market, active; yorkers, ! $5.50©8.65: pigs, $8.30©5.75; mixed, $8.30 ® s.WI; heavies. $8.35®8.50; roughs, $6.75 ©7: stags, s4©s. Cattle—Receipts. 350; market, slow; shipping steers, $8®9.25; j butcher grades, s7® $.50; heifers, $4.50© !8; cows. $1.50: bulls. $3©5.50; milk cowsi and springers, s4o© 135. Sheep and 1 ; lambs —Receipt:. 11,$00; market, active; choice 1-mbs, $9.25® 9.75; cull to fair. s6.ot) ©9; yearlings. $5©6.50: sheep, $1.50®5.59. Calves—Receipts, 200; market, active; cull to choice, ss® 13. PITTSBURGH, Oct. 27.—Ilogs—Receipts, 2.300: market, 10c higher; prime ! heavies, $$ 25® $.40: mediums, $8.55®8.60; heavy yorkers, $8.55® $.00: light yorkers, [email protected]; pigs, $8.55©8.60; stags, $4.50 ©5; heavy mixed. $5.40©5.50. Cattle— Receipts, liglu; market, steady; choice, ss©B.so; prime, $7.50© 7.75; good, s6so® 7; tify butchers. $6.50®7; fair, ss©u; common, ?4.50©5; common to good fat f hulls. $3.5C©5; common to good fat cows. 81 50©5: heifers, $4.2.*'-.-,t:.23: fn sh cow* !aml springers, $35@90; veal calves. sl3; 1 heavy and thin calves, [email protected]. Sheep 1 and lambs—Receipts, 1.500: market, 25c j higher generally: prime wethers, [email protected]; ! good mixed, [email protected]; fair mixed, $3.50 i ©4.25; culls and commons, sl.27@2Ak>; j choice lambs, $9.50.

WHOLESALE BEEF PRICES. The following is today's wholesale prices for beef cuts as sold by the Indianapolis markets of Swift & Cos: Ribs —No. 2,21 c: No. 3.15 c. Chucks—No. 2, 10c; No. 3, Bc. I’lates—No. 2,9 c; No. 3, 9c. Links—No. 2,28 c: No. 3,24 c. Rounds —No. 2. 15c; No. 3.12 c. CHARGE PLAN FOR RECEIVERSHIP Berlin Financiers Fear L T . S. and British Aggression." BERLIN. Oct. 27.—A race has begun with Brhish capital on one laud and American financiers on the other, to get in on the ground floor of a virtual receivership for central Euroj'e with the ultimate view of gaining tii4 lion's shard of the fruits of Russian reconstruction, the way to which leads inevitably across Germany. This was the opinion in financial circles here today as a result of Frank A. Lander!', p’s proposal fur a European bank cap talized at one biilion in American gold and fashioned in accordance with the plan on which she United States Federal Reserve Bank was built, and which Yanderlip helped to create. Vanderlip’s proposal came like a bombshell into the maze of secret negotiations in the British scheme fur bothering up the German economic situation by a huge loan from Great Britain.