Indianapolis Times, Volume 34, Number 155, Indianapolis, Marion County, 9 November 1921 — Page 10

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MARKET FIRM DESPITE LACK <SF ADJUSTMENT Monitor Sees Some Ca&se for Caution in Relations of Trade. Special to Indiana Dally Times and Philadelphia Public Ledger. By MONITOR. NEW YORK. Nov. 9.—ln spite of the, rather moderate Tolume of trading disclosed by dally stock exchange transactions recently, the market has shown unmistakable tirmness throughout most of the general list; weakness has been exhibited only in rare Instances; and, positive buoyancy has made Its appear* snce in an encouraging number of cases. Investment demand continues almost unabated. Tax-exempt securities are far above their levels of six months ago. and sound investment bonds bare advanced materially. n Nevertheless, the situation as a whole is greatly confused and there Is a feeling that caution should be used in following advances. It should he understood that this Is far different from the pessimism so rampant a year ago, when discouragement expressed itself iirconfldent short selling and wholesale liquidation. Then it was felt that a debacle was impending. Now there Is merely a feeling that recovery may be delayed to a disappointing extent. In November last year grave fears were expressed regarding financial stability. Now we merely hear expressions of doubt as to the economic progress toward rehabilitation. The gain In the Federal reserve ratio : n the last six months from forty-two to seventy-one shows that all danger of financial collapse In. this country has passed.

MALADJUSTMENT IN EARNING POWER. Despite our financial Improvement, however, the situation contains many elements calculated to cause concern. Thero Is mal-adjustment between the earning power of various groups such, for example, as the drivers of New York milk wagons receiving an average of *43 per week, or more than $2,000 per year, while the owner of a fair sized dairy farm probably Is operating at a loss. Agriculture Is not receiving anew dollar for an old one. Farm laborers In the South, mostly negroes, It is true, are cn the verge of starvation at a time when industrial labor is prating about the necessity of preserving standards of living. x This dislocation also exists between the United States and the countries of Europe. It has been aggragated by falling exchange and promises to be accentuated still further by tariff barriers. The buying power of Eurooe should not l>e restricted by legislative attempts to raise up tariff walls. Consequently, students of business conditions, who consider the question of the free flow of products between producing groups and producing nations, expect no permanent Improvement until mal-adjustment has been corrected to a considerable extent. RECUPERATIVE POWER Or V. 8. IN EVIDENCE. This discouragement has been offset to a certain degree by the undoubted evidence of recuperative power in the United States. Notwithstanding high wages and high material costs, building operations are being conducted throughout the country on a large scale. Certain liquidated industries are giving unmistakalle evidences of revival—textiles, oil, copper, and to a moderate extent the steels. ft Is a fairly safe guess that the trend business resentment tn the next few weeks will be governed largely by legislative tendencies, including the taxation program in Congregs, and by the shaping of policies at the disarmament conference in Washington.—Copyright, 1921, by Public Ledger Company.

In the Cotton Market

NEW YORK. Nov. 9.—General selling resulted at tbe opening of the cotton market today, following the Census Bureau's announcement that 6.646.136 bales of cotton had been ginned prior to Nov. 1 this season. These figures confirmed the most bearish private estimate heretofore published sind was more than 100.000 bales in excess of the Government's estimate of the crop. Liverpool and the trade bought, but * the Belling was so heavy and general that prices continued to weaken after the start and at the end of the first fifteen minutes they were 54 points net lower. New York opening cotton prices: December, 18.20 c; January, 17.98 c; March, 17.80 c; May, 17.55 c: October. 16.20 c. Selling was heavy throughout the afternoon. January dropping to 17.15, a net loss of 109 points. The close wis steady on short coverings at net declines of 85 to 100 points. —Cotton Futures — Open High I.ow Close Jan 17.9.1 17.98 17.12 17.24 March 17.80 17.88 17.04 17.13 May 17.60 17.61 10.85 16.94 July 17.10 17.10 16.40 16.50 Oct 16.20 16.20 15.70 15.60 Dec 18.20 18.20 17.35 17.00 LIVERPOOL. Nov. 9.—There was a limited demand for spot cotton at the opening of the market here this morning. Prices were unchanged and sales around 5,000 bales. American middlings, fair, 14.13d: good middlings 12 AS I; fully middlings 11.88d; middlings'll.sß(l: low 10.28d; good ordinary B.5Sd; ordinary 7.83d. Futures, opened qniet.

Weather

The following table shows the state of Ihe weather at 7a. m., Nov. 9, as observed by United States Weather Bureaus : Station. Bar. Temp. Weather. Indianapolis, Ind.. 29.99 36 Cloudv Vtlanta, Ga 30.02 56 Cleucy Amarillo, Texas... 30.40 30 PtCldy Bismarck. N. D... 30.28 16 Clear Boston. Mass 30.46 38 Snow Chicago, 111 30.18 36 Cloudy Cincinnati, Ohio .. 29 94 40 Cloudy Cleveland. Ohio .. 30.02 38 Rain Denver, Colo 80.40 26 Cloudy Dodge City, Kan.. 30.50 20 Clear Helena, Mont 30.4S 22 Clear Jacksonville, Fla.. 30.06 66 Cloudy Kansas City. Mo.. 30.38 34 Cloudy Louisville. Ky 29.94 50 Cloudy Little Rock, Ark.. 30.12 48 Cloudy Los Angeles, Cal.. 30.08 56 Clear Mobile. Ala 30.96 62 Clear New. Orleans. La.. 30.08 60 Cloudy New York. N. Y... 30.28 38 Cloudy Norfolk. Va 30.04 58 Cloudy Oklahoma City ... 30.30 32 Cloudy Omaha. Neb 30.44 24 Clear Philadelphia, Pa... 30.22 40 Cloudy Pittsburgh. Pa 29.98 48 Cloudy Portland. Ore 30.30 44 Cloudy Rapid City, S. D... 30.34 26 Cloudy Roseburg. Ore 30.28 44 Cloudy San Antonio, Texas 30.22 48 j dear San Francisco, Cal. 30.12 52 > Cloudy St. Louis, Mo 30.14 * 36 Rain St. Paul. Minn 30 42 'lO Clear Tampa. Fla 30.08 68 Cloudy Washington. D. C. 30.12 44 Rain WEATHER CONDITIONS. The disturbance west of tbe lower Mississippi'Tuesday morning has moved northeastward to the Ohio Talley, and It has caused rains In southern and eastern sections, turning to snow along the' northern edge of the area traversed. While temperatures are higher in the Immediate fror.t of the storm, it is considerably ssMer to the westward, from the Great Lakes and upper Mississippi Valley to Texas and New Mexieo. The line of freezing temperature has pushed southward to no, hern Texas, whenee It extends ts eastern lowa and the northern portions of Illinois and Indiana. There has been a rise In temperature, however, la the far Northwest, duo to relatively low pressure In that region. J. H. ABMINGTON, Meteorologist, Weather Bureau.

Germany Seeking Enormous Loan WASHINGTON, Nov. o.—Germany Is seeking in America anew credit of between *30,000,000 and *40,000,000, it was learned here today Obtaining of this credit Is one of the purposes of the visit to this country of former State Secretary Karl Bergman of Berlin, now associated with the Deutscher Bank.

N. Y. Stock Exchange

—Nov. 9 Prev. High. Low. Close, close. Allied Chemical 46% 46 46% 40% Ajax Rubber... 20% *19% 20% 20 Allis-Cbalmers.. 36 33% 36 34% Am. Agri 30% 30% 30% 30% rfim. Beet Sugar 28% 28% 28% .... Am. B. Mag. Cos. 33 32% 32% Am. Car & F...135% 132% 135% 132 Am. Can 31% 30% 31% 30% A. H. & L pfd. 51% PI 51% -51 Am. In. Corp. . 37% 35% 30% 35% Am. Linseed . 25% 24% 25% 24% Am. Loco 03% 91% 1*3% Am. S. & Ref. . 39% 39% 39% 39% Am. S. U®. ... 55% 53% 55 53% Am. S. T. Cos. .. 36% 35% 36% 35% Am. Steel F. .30 28% 29% 28% Am. Tel. & Te1..110% 109% 110% 109% Am. Tobacco ..127% 126% 127% 126% Am. Woolen ... 78 76% - 7S 7" A. Pete 21% 21% 21% 41% A. Min. Cos. ... 43 42% 43 *2% Atchison 86% 85% 86% 83% A. Gulf & W. I. 30% 29% 30% Vd% Baldwin Loco. .94 90% 93% 90% B. & 0 37% 86% 37% 37 Beth. Steel (B). 57% 56% 57% 56% California Pete. 44% *3% 43% 43 Can. Pac. Ry.. 115% 114 114% 114 Central Leather. 29% 28% 29 28% Chandler Motors 47% 46% 07% 47 C C. & 0 55% 45% 55% 54% C„ M. & St. P.. 23% 23% 23% 23% C M & St F pfd 37 36 37 Chi. & Nw.. 68% 68 68% C..-R. I. & P 33% 32% 33 32% C R I & P 6 pc pf 68 68 tSB 68 CRI&P 7pc pf 79% 79% 79% 79% Chili Copper... 12% 12% • 12% 12% Chino Copper.. 25% 25% 25% 25% Coca Cola 39% 39 39 39% Col Fuel & Iron 24% 24% 24% .... Columbia Gas* 63 62% 63 N 62% Columbia G 3% 3% 3% 3% Con. Gas 94 92% 94 92% Continental Can 55 55 55 .... Cosden Oil 33% 32% 33% 32% Corn Products. 88% 87% 88% 87% Crucible Steel.. 66 62 66 63 Cuban A. Sugar 15 14% 14% 34% Cuba C. Sugar. 8 7% 8 7% Del. & Lack 108% 108% 109 10S% Erie 12% 12 12 12 Erie Ist pfd.... 17% 17% 17% 17% Famous Players 64% 62 64 62 Fisk Rub. C 0... 10% 10% 10% Gen. Asphalt.... 64% 62% 64% 62% Gen. Cigars 60% 59% 60% 59% Gen. Electric...l3s% 133 135% 133 Gen. Motors 12% 11% 11% 11% Goodrich 32% 31% 31% 31 Gt. North, pfd. 75 73 74% 73% Grt. North. Ore. 32% 32% 32% 32 Houston Oil 78% 77% 78% 76% Haskell Barker. 74% 73 73 72'In. Copper 36 35% 36 35% In. Oil 10% 10% 10% 10% Inter. Harvester 78% 76 78% 75% Inter. Nickel ... 13% 13 13% 33% It-ter. Paper .. 53% 52% 53% 53 I. 011 & Trans. . 3% 33 3% Kansas C. 8. .. 25 24% 25 24% K. Spring Tire .41 4040% 39% Ken. Copper . 23% 23% 23% 23% Lack. Steel ... 42 40V* 42 41 Lehigh V 55% 54% 55% 54% Lee Tire 27% 27% 27% 27% Loews. Inc. ... 15 14% Loft Candv ... 9% 9% 9% .... Marine Com. .. 10% 10% 10% B)% May Stores ... 9L &v% .91 88 Marine Pfd. ... 50% 49% 50% 49% Mont. & Ward. . 18 19 38 18% Mary. Oil .... 28% 26% 28% 26 Mexican Petro. .115% 106% 115 107% Miami Copper .23 22% 23 Middle States O. 14% 14 14% 14 Mid. Steel .... 25% 24% 25% 24% Missouri Pac. .. 18% 17% 18% 18% Missou-; P. Pfd. 43 42% 43 42% Nat. E. & Stamp 40% 40V* 40% 41 National Lead .. 77% 77% 77% .... Nevada Con. C. .13 12% 13 12% N. Y. Central... 73% 71% 73 72 New Haven 14 13% 14 13% Nor. & West 96% 94% 96 95 North. Pac 79% 70% 79% 77 Okla. PAR. Cos.. 3% 3% 3% 3% [-Pacific Oil 46% 45 46% 45% Pan-Am. Petrol. 48% 46% 48% 46% enna. Ry 36 35 35% 35% People's Gas.... 57% 56% 57 56% Pierce-AFrow .. 14% 14% 14% 14%. Pierce Oil C 0... 7 6% 7 6% Pressed S. Car.. 61% 60 61% PulL Pal. Car. .105% 104 105% 105% Ry. Steel Spgs.. 85% 85% 85V* 84% Pure Oil 36%. .35% 36% 35V* Reading 71% 69% 71% 69% Rep. I. & Steel. 51% 50 51 49% Royal Dutch..., 50% 49 50% 4.8 Sears-Roebuck .67 65% 06% 67% Sinclair 23% 23% 23% 23 S-Shetf. S. & I. 38% 38% 38% .... So. Pacific...... 79% 75% 79% 78% Southern Ry.... 19% 19 19 19 St.L. & S.W.Ry. 23% 22% 23% 21% Stand. O. N. J. 160% 156 160% 155 St.L. & S.F.com 23 22% 23 22% Strom. Carb.... 31% 31 31% 29% Studebaker 75% 71% 75% 74% Tex. Coal & Iron. 28 26 % 27% 26% Texas Cos 45 43 % 45 43% Texas & Pac. .. 24 22% 23% 22% Tob. Prod 60% 59% 60% 59% Transcontinental 9% 9 9% 9 Union Oil 20% 20% 20% 20% Union Pacific..l23% 121 I*3 121% United Ret. St.. 50% 48% 50% 49% US Food Corp. 11% 11% 11% 11% United Fruit .. 119% 117 119% 115% United Drug.... 68% 67% 68% 66 US. Ind. A1 44% 44% 44% 44% US. Rubber 49% 47 49% 47% US Rubber pfd. 87% 56% 87% 83% US Steel 83 80% 83 80% US Steel pfd....110% 310 310 310% Utah Copper ... 56 55% 56 55% Vanadium Steel. 32% 31% 32% 31% Vir.-Car. Chem. 27 v 26% 26% 27 Wabash 7 7 7 7 Wabash Ist pfd. 20% 20% 20% 20% W. Maryland... 8% 8% 8% Western Union. 87% 86 87% 85% Wesths. Elec... 46% 46 46% 46 White Motors.. 39% 39 39% 38 Willys-Overland 6% 6 6 6 Wilson & C 0... 31 31 31 31 Worth Pump... 41 40% 41 Woolwprth 125% 124 125% White Oil 13% 12% 13 12% W T est. Pacoflc.. 20% 19% 19% 19% NEW YORK LIBERTY BONDS. —Nov. 9—■ Prev. ' Open. High. Low. Close. L. B. 3%s 95.40 95.10 95.10 94.88 L. B. Ist 4s 94.76 L. B. 2d 4 s 94.62 94.00 L. B. Ist 4%5. .* 94.80 94.58 94.58 94 60 L. B. 2n 4% 8.... 94.90 94.44 94.44 94.88 L. B. 3d 4%5... 96.70 96.20 96.20 96.66 L. B. 4th 4%5.. 95.08 94.68 94.68 95.08 Victory 3%s 99.70 99.76 Victory 4%s 99.72 99.64 99.64 99,68

Local Curb Market

(By Newton Toddl -i-Nov. 9. Amer. Hominy com 11 17 Central & Coast Oil % 1% Choate Oil Corp % 1% Columbian Fire Ins t C 0....... 6 7% Comet Auto 1% 2% Dayton Rubber Units 66 76 Dictagraph Produces pfd.... 45 53 D. W. Griffith 7% 0% Elgin Motor Car 3% 5 Federal Fin. Cos. pfd 75 85 Fed Fin. Cos. com 120 128 Gt. Sou. & Prod. & Ref 5% 6% Hurst & Cos. pfd 32 52 Indiana Rural Credits 49 62 Metro. 5-10 c Stores com 8% 11% Metro. 5-50 c Stores pfd 26 30 Revere Motors 44 % Rauch & Lang Units 45 53 Rub-Tex Units 15 17% Stevens-Duryea Units 40 v 4B IT. S. Automotive Units 84 94 U. S. Mrg. Cos. Units ....150 165 BANK STOCKS. . Commercial Natl. Bank 7l' 81 Continental Natl. Bank 109 116 Indiana Trust Cos 175 190 Indiana Natl. Bank 25S 263 Merchants Natl. Bank ...... 280 NatL City Bank .....105 110 Security Trust Cos ISO Stave Savings & Trust 80% 03% Wash. Bank & Trust C 0.... Ifio ... TOLEDO SEED PRICKS. TOLEDO, Nov. 9.—CioverseuS -Pushsl2.lo; December and March, 01S.2O: January ami February. $12.30. Altlkc - Cash. $111.25; December, $10.40: February, $10.75; March, $10.70. Timothy—Cash. $2.90; December, $2.92*4: January, $2.93; February, $3; March, $3.00.

STOCK MARKET CLOSES STRONG Some Stocks Reach New Highs for Day in Final Hour. NEW YORK, Nov. 9.—The stock market closed strong today, buying becoming urgent in the last half hour. Many active issues advanced to ew high levels for the day. Mexican Petroleum sold u to 113, a gain of over 7 points for tire day, and upturns of about 1 point were made In the other oil shares. The steel issues continued strong, especially I'niteiT States Steel, which advanced to 83 on buying of large blocks. Northern Pacific* was the strongest of the railroad group, getting up to 79%, a gain of nearly >3 points. Total stock sales .were SCO,COO; bonds, $16,119,000. CLEARING HOUSE STATEMENT. NEW YORK, Nov. 9—Exchanges SSS 2.200.000: balances, $83,000,000; Fedenl Reserve Bank credit balances, $01,400,000. TWENTY STOCKS-AVERAGE. NEW YORK Nov. industrial stocks Tuesday averaged 74.20 up .29 per cent. Twenty active rails averaged 72.70 up .27 per cent.

**oney and Exchange

Indianapolis bank clearings Wednesday were $4,216,000. NEW YORK. Nov. 9.—The foreign exchange market opened generally steady today, with demand Sterling %c higher at 53.94%. Francs yielded 3% centimes to 7.28 c for catles and 7.27 c for checks. Lire were 1% points higher at 4.23 c for cables and 4 22c for checks. Guilder cables were 34.68 c; checks, 34.66 c. Marks advanced sharply to .0042%, 9% points higher. Swedish kronen cables were 23.23 c; checks, 23.18 c NEW TORK CALL MONEY. NEW YORK, Nov. 9.—Money: Call money ruled 5% per cent; high, 5% per cent: low, 5% per cent; time rates steady, all i 5%@5% per cent. Time mercantile paper steady. Sterling exchange was steady, with business in tankers' bill at .53.94V* for demand. MOTOR SECURITIES. (Hy Thomson & McKinnon) j —Nov. 9 v —Closing—- \ Bid Ask. Briscoe> 8% 9% Packard com 5% 6 Packard pfd 63 65 Peerless 40 , 41 Cont. Motors com 5% 5% Cont. Motors pfd 80 83 Hupp com 10% 11% Hupp pfd 92 98 lteo Motor Car 18% 18% Elgin Motors 4 4% Grant Motors 1% IT* Ford of Canada 232 240 Internat. Motor com 26*% National Motors 2% 5 Federal Truck 10 12 Paige Motors 11 13 Reput lie Truck 6% ACTIVE OIL STOCKS. (By Thomson & McKinnon.) —Nov. 9 —Opening— Bid. Ask. Anglo-American Oil 19 19% Atlantic Lobos 10% 11 Borne-Scrymser 325 300 Buckeye Pipe I.lne 81 83 Chesebrough Mfg. Cons 155 165 Continental Oil, Colorado 118 125 Cosden Oil and Gas 5% 6% Crescent Pipe Line .28 30 Cumberland Pipe Line 130 140 Elk Basin Pete 7% 7% Eureka Pipe Line 85 87 Galena-Signal Oil. pref 93 100 Galena-Signal Oil, com 44 48 Illinois Pipe I.lne ICO 165 Indiana Pipe Line 82 84 Merritt Oil 11 11% Midwest Oil 2% 3% Midwest Rfg 170 180 National Transit . 28 30 New York North. Pipe Line 93 96 Ohio Oil 2SL 284 Okla. P. .t It ~...28 30 New York Transit 147 153' North. Pipe Line..... 93 96 Ohio Oil 2SI 284 Oklahoma P. & R 4% 4% Penn.-Mex 23 27 Prairie Oil and Gas 575 585 Prairio Pipe Lint*. .....20(1 204 Solar Refining 380 400 Southern Pipe Line 84 87 South Tenn Oil 235 240 Southwest Penn Pipe Lines... 55 58 Standard Oil Cos. of Ind 84% 85 Standard Oil Cos. of Kan SSO 590 Standard Oil Cos. of Ky 410 430 Standard Oil Cos. of Neb 170 180 Standard Oil Cos. of N. Y 350 355 Standard Oil Cos. of Ohio 380 400 Swan & Finch 40 50 Vacuum Oil 295 305 Washington Oil 30 40 NEW YORK CURB MARKET. (By Thomson & McKinnon.) —Closing— Bid Ask Acme Packing 85 90 Curtis Aero, :om 1% 2 Curtis Aero, pfd 10 15 Goldfield Con 4 6 Jumbo Extension 5 7 Imperial Oil (Del.) 10% 10% International Pitrobum .... 15% 15% Nipissing 5% 5% Standard Motors 4 4% Salt Creek 14% 14% Tonopah Extension 24 25 Tonopah Mining IV4 1% United P S new 13 16 1% U. S. Light and Heat 1% 1% IT. S. Light and Heat pfd 1% 3% Wrlght-Martio 2 5 Yukon Goid Mine Cos 1% 1% Jerome 16 18 New,Cornelia 15 16 United Verde 26 27 Sequoyah 6 10 Omar Oil 1 1-16 1% Rep. Tire 17 23

CHICAGO STOCKS. (By Thomson & McKinnon.) '—Nov. 9 - Open. High. Low. Close. Armour pfd 92% 93% 92% 93% Armour Leather... 12% Carbide & Carbon 43% 46 43% 46 Libby 7% 8 7% 8 National Leather ... 5% 6 5% 5% Piggl.v Wiggly 14 Sears-Roebuck .... 66% 66*4 66 66 Stewart-Warner .. 24% 24% 24% 24% Swift & Cos 99% 99% 99% 99% Swift International 23*4 23% 23 23 NEW YORK SUGAR. NEW YORK, Nov. 9.—Trade In raw sugar was quiet on the market here today. Cubas selling at 4.11 c per pound, duty paid, and Porto Ricos at 4.00 c per pound, delivered. Refined sugars were also rather quiet, tine granulated selling at 5.20fft5.30e per pound and No. 1 at 5.30 c per pound. NEW YORK COFFEE. NEW YORK, Nov. 9.—Coffee prices were easy in trade on the exchange -here today, opening options being 0 to 11 points lower. Rio No. 7 on spot sold at B%<&S%c per pound. NEW YORK RICE. NEW YORK, Nrv. 9.—Rice values were steady on the market here today, domestic selling at 3%@7%c per -pound. NEW YORK METAL MARKET. NEW YORK, Nov. 9.—Copper—Quiet ; spot. November and December offered, 12%c. Lead—Quiet; spot, November and December offered, 4.72 %c. SpelterSteady; spot, November and December offered, 4%c. NEW' YORK WOOL. NEW YORK. Nov. 9.—W00l prices were steady on the market here today, domestice flee<-e, XX Ohio, selling at 23@ 38c per por and; pulled. tcOured basis, at 23(i,.67c and Texas domestic, scoured basis, at 40!&75e. NEW YORK HIDES. NEW YORK, Nov. 9. —Hide values were firmer in trade on the market here today, native steer hides Selling at 15c per pound and branded steer hides at 14%@ 14 % c. NEW YORK PETROLEUM. NEW YORK, Nov. 9.—Petroleum prices were firm iu trade on the market today, Pennsylvania crude petroleum selling at $4.05 per barrel.

INDIANA DAILY TIMES, WEDNESDAY, NOVEMBER 9,1921.

New York Bonds

(By Fletcher American Cos.) FOREIGN GOVERNMENT BONDS. —Nov. 9 Bid. Ask. Arg. (unlisted) ss, Sept. 1, '45 . 72 75 Belgian 6s, Jan. 1, '25 95% 96 Belgian 7%5, June 1. '45 104% 105 Belgian Bs. Feb. 1, '4l 103% 104 Berne Bs, Nov. 1, '45 106*% 108 Chile Bs, Feb. 1, '4l 101 1011/2 Chinese (Hg.lty.) ss, June, 'sl 40 42% Christiania Bs, Oet. 1, '45 105 106 Copenhagen 5%5, July 1, '44.. 86 87% Danish Mun Bs, Feb. 1. '46...105% 106 Denmark Bs, Oct. 15, '45 106% 107 •Canadian 5%5, Dec. 1. '22.... 90% 91% •Canadian 5%5, Nov. 1, '23... 90 ” 91% •Canadian 5%5. Nov. 1, '24... SS% 90 •Canadian ss, Dec. 1, '25....*. 86% 88 Canadian ss, Apr. 1, '26 94 % 94% •Canadian 5%5, Dec. 1, '27.... 88% 90 Canadian 5%5. Aug. 1, '29.... 96% 97 Canadian ss, Apr. 1, '3l 94% 95 •Canadian ss. Oct. 1, '3l 84% 85% •Canadian 5%5, Nov. 1, '33... 88% 90% •Canadian 5%5. Nov. 1, '34 87 88% Canadian ss. Mch. 1, '37 90 91 •Canadian 5%5, Dec. 1, '27.... 90% 91% •French (Viet.) 3s, Opt., '31.. 55 57 , •French 4s, Opt., (43 45 47 •French (Prom.) us. Issue '2O. G 2 67 •French 6s, Opt.. '3l 66% 67% French Bs, Sept. 15, '45 100% 101 •Italian (war) 5s 31 33 Jap (first) 4%5, Feb. 15. '20.. 85 86 Jap (second) 4%5, July 10, '25 85 86 Jap 4s, Jan. 1, '3l 69 69% Norway Bs, Oct. 1, '4O 107 107% Russian 6%5, June 18. 'l9 13 16 Russian 5%5, Dec. 1, '2l 12 15 •Russian 5%5, Feb. 14, '26.... 3 6 Sao Paulo Bs, Jan. 1, '36 100 101% Swedish Cs, June 15, '39 95 % 90 Swiss 5%5, Aug. 1, ’29 94% 95 Swiss Bs. July 1, '4O 108 C. 109 U. K. 5%5, Nov. 1, '22 90% 99% U. K. 5%5, Aug. 1, '29 04% 95 IT. K. 5%5. Feb. 1, '37 94 94% •U. K. (Viet.) 4s, Issue T 9 203 300 •IT. K. (W.L.) ss, Oct. 1, '22..390 407 •U K (W.L.) ss. Fob. 1, >29. .382 394 Zuhleh Bs, Oct. 15, '45 105% 106% BrJ7.il 8s 102 Vi 103% French 7%s 95% 96 Uruguay 8s 102 Vi 103% Argentine 7s 99% 99% •Internal loans. CORPORATION BONDS. Bid. Ask. Alum. Cos. of Am. 7s. Nov. '23.100 100% Am. Cotton Oil 6s, Sept. 2, '24. 95% 96*.'. Am. Tel. Cs, Oct. '22 99% 100% Am. Tel. 6s, Feb. ’24 99% 100% Amer. Thread 6s, Dee. '2B 98% 300 Amer. Tob. 7s, Nov. '22 101 101% Amer. Tob. 7s, Nov. '23 101% 102 Anaconda 6s, .Tan. '29 94 % 95% Anaconda 7s, Jan. '29 100 100% A. Amer. Oil 7%5. Apr. '25.103% 103% .Armour 7. July 15, '3O 101% 102% Atlarttic Ref. 6%5, Mch. '31..103% 104 Bell Tel. of Can. 7s, Apr. '25.. 99 300 Beth. Steel 7s. July 15. '2...100% 100% Beth. Steel 75,-July 15, '23.100% 100% Can. Pacific 6s. Mch. 2, '24.. 99% 100% Cent. Arg. Ry. 6s, Feb. '27... 87% 88% C. It. 1. & P. 6s/ Feb. '22... 99% 100% Cons. Gas Bs, Dec. '2l ;.100 100% Copper Exp. N, Feh. 15. '22...100% 101% Copper Exp. Bs, Fpb. 15, '23...101% 102% Copper Exp. Bs, Feb. 15. '24...102% 102% Copper Exp. Bs. Feb. 15, '25.. .102% 103% Cudahy 7s. July 15, '23... TOO 100% Fed. Sugar Cs, Nov. '24 96% 97% Goodrich 7s. Apr. '25 98 98% Gulf Oil os, July '23 99% 100% Gulf Oil 7s, Feb. '33 102% 102% Hocking Val. 6s, Mch. '24... 95% 97% Hqpnhle Oil 7s, Mch. 15. '23... 90% 100% Int. R. T. 7s, Sept. '2l 76 78 K. C. Terra 6s, Nov. 15, '23... 99% 99% Kenn. Copper 7s. Feb. '30.... 99% iKes, Imciede Gas 7s. Jan. '29 9*; 97 Proctor Si G. 7s. Mch., '22..100% 100% Proctor & G. 7s, Mch. '23. ...101% I‘l% Pub. Ser. N. J. Ts, Mch. '22... 98% 99% It. J. Remolds 6s, Aug. "22... 100% 100% Sears Roebuck 7s. Oct. 15, '23.100 100% Sinclair 7%5. May 15, *25. j 96% 96% Solvay &. Cie Bs, Oct. "27 102 303 Southern Ry. 6s. MM). '22.... 99% 99% S. W. Bdl Tel. 7s. Apr. '25...101% 101% Stand. Oil (Cal.) 7s, Jan. '31.105 105% S. Oil (N. Y.) 7s. Jan. '23-31.103% 107% St. Paul U. D. 5%s Dec. 15. '23 I*B% 98% Swift 7s, Oct. 15, '25 101 101% Texas Cos. 7s, Mch. 1. "23... 101% ,01% Utah Sec. 6s, Sept. 15, '22... 96 % 97 Western El. 7s. Apr. '25 102 102% Westinghouse 7s, May, '31..104% 105

Local Stock Exchange

—Nov. 9. — STOCKS. Bid. Ask. Ind. Ry. Si Light com y 65 65 Ind. Ry. & Light pfd '7O Indpls. & S. E. pfd 75 Indpls. * N. W. pfd 75 Indpls. St. Ry .. 41 T. H„ I. Si L. pfd 50 T. H. t I. & E. pfd 15 T. H., I. Si E. com 5 U. T. of Ind. com ... 1 U. T. of Ind. Ist pfd ... 7 U. T. of Ind. 2d pfd 2 Advance-Rmnely coin ... Advance-Rumely pfd ... Am. Creosotlng pfd 91% ... Am. Central Life 150 Belt. R. R. com 56 66 Belt R. R. pfd 43 51 Century Bldg. Cos. pfd 91 Citizens Gas Cos 23% Dodge Mfg. Cos., pfd 88 98 Home Brewing 54 64 In<l. Hotel com 60 ... Ind. Hotel pfd r Ind. Nat. Ins. C 0..... ... Ind. Title Guar. C 0......... t Ind. Pipe Lines 8 > 86 Indpls. Abattoir pfd 40 50Indpls. Gas 42 49 lodpls. Tel. com 2 ... Indpls. Tel. Cos. pfd 90 Mer. Pul'. Util, pfd 41% 50 Nat. Motor Cor Cos 1% 3% Pub.- Savs. Ins. C 0..... 4% ... Ranh Fertilizer pfd 40 Stand. Oil of Indiana 84% 89 Sterling Fire Ins. Cos 6% 7% Van Camp Hdw. pfd...... 90 101 Van Camp Prod. Ist pfd 101 Van Camp Prod. 2d pfd ... 101 Vandalla Coal Cos. com 4 Vandalia Coal Cos. pfd SP 0 Wabash Ry. com 7 8% Wabash Ry. pfd 20 22

BONDS.' Broad Ripple 5s 50 Citizens St. lly. 5s 63 75 Indian Creek Coni & Mine 100 Ind. Coke & Gas 6s 96 Imlpls., C. A South. 5s 88 Indpls. A-Martinsv. 5s 50*4 Imlpls. Northern 5s 36% 43 Indpls. N. W. 5s 50 57 Indpls. & S. E. 5s 45 Indpls., S. A S. E. 5s 60 Indpls. St. Ry. 4s 48 52 Indpls T. & T. 5s 67*4 73 T. H., I. A E. 5s 46 U. T. of Ind. 6s 46% 52 Citizens Gas Cos. 5s 76 82 Imlpls. Gas 5s 73*4 81 Kokomo, M. A W. 5s 77 80 Ind. Hotel Cos. 2d 6s 93 Indpls. L. A H. 5s 77 80 Indpls. Water Cos. 4%s 71 76 ' Indpls. Water Co/5s 90% 91% Mer. H. & L. 5s 90 96 New Tel. Ist 6s 94 New Tel. .L. I). 5s 93% ... Sou. Ind. Power 5s 89% LIBERTY BONDS. Liberty first 3%s 95.10 95.50 Liberty first 4%s 94.58 04.90 Liberty second 4%s 94.58 95.00 Liberty third 4%s 96.40 96.78 Liberty fourth 4>4 8 94.76 05.10 Victory 3%s 99.60 99.70 Victory 4%s 99.60 09.70 —Sales—ss,ooo Indianapolis & N. W. 5s at 50. $12,000 Indianapolis Water 5s at 90%. WHOLESALE FEED PRICES. - Ton. Cwt. Acme Bran $21.00 sl.lO Acme Feed 21.00 1.10 Acme Mids 21.00 1.10 Acme Dairy Feed 40.00 2.05 Acme H. A M 27.00 1 40 E Z Dairy Feed 29.00 1.50 Acme Stock Feed 22.00 1.15 Acme Farm Feed 26.75 1.40 Cracked Corn 25.50 1.30 Acme Chick Feed 35.00 1.80 Acme Scratch ........... 31.00 1.60 E-Z Scratch 28.50 1.45 Acme Dry Mash 38.25 1.95 Acme Hog Feed 33.25 1.70 Ground Barley 34.75 1.50 Ground Oats 28.75 1.50 Homlick 23.25 ;..20 Rolled Barley 34.75 1.80 Alfalfa Mol 30.50 1.60 Cottonseed ............... 50.00 2.60 Chick Mash 40.75 2.10 Tankage 52.50 3.00 Meat Scraps 75 00 • 4.00 TANK WAGON PRICES. Indiatapolis tank wagon price for gasoline today were: Red Crown. 19.6 c per gallon: Silver Flash, 231-3 c: Keystone. 23%c. Perfection kerosene j* selling at M%e.

GRAINS SHOW GAINS AT CLOSE Final Market Trend ErraticPit Is Nervous. CHICAGO, Nov. 9.—Wheat closed strong and at the best levels of the day on the Chicago Board of Trade today. The trend was erratic during most of the session, with the pit sentiment decidedly nervous. Wheat closed with net gains of 1%@2; com advanced %@%c and oats gained %@%c. (By Taonfson & McKinnon) —Nov. 9 Wheat—There being no moisture received in section of the Southwest where needed and receipts and offerings from the country falling off, sentiment has become rather friendly. Flour trade is reported as slow, nonetheless, milling wheat is strong as it is offered only in a small way. Foreign news is not especially conducive to higher prices. Export news is a little conflicting. New York saying that some claim resellers are offering cheaper, while others -say that the congestion at ports is improving slightly and there is a little new business in hard winter. Beneficial rains have fallen in Australia, and the Spanish decree against importation of any wheat shipped later than Nov. 8. The advances in prices increased the offerings from country points in Canada and cash wheat there has ruled relatively easier. Winnipeg May wheat has sold below Chicago for the first time on the crop. The Government makes no new estimate of yield, but gives the weight per measured bushel at 56.6, against a ten-year average of 57.9. Corn and Oats—Moderate response to the strength In wheat has appeared In com andmats, but, as for some time past, there Is no improvement in the Interest shown or in the shipping demand. The Government estimates the corn crop about as expected. Report on farm reserves not received at time of writing but expected to make a tfery liberal showing. Provisions—Very little activity In hog products. The market undertone was stoad.il, although easing a little late in expectation of liberal receipts of hogs.

CHICAGO GRAIN TABLE. —Nov. 9 WHEAT— Open. High. Low. Close. Dec 1.04% 1.06% ].03% 1.03% May 1.10 1.11% 1.06% 1.11% CORN— Dec 47 .47% .46% .47% May 52% .03% .52% .53% OATS— Dec 32% .32% .32% .32% May 37% .37% .37% .37% pork—- • Jan 14.30 LARD— Jan.... 8.70 8.72 8.22 8.65 „ May.... 9.15 0.17 0.05 9.07 RIBS—•Jan 7.40 May.... 7.82 7.52 7.72 7.72 k Dec. 76% .79 .76% .79 May Sl% .83% .81 .83% •Nominal. CHICAGO CASH GRAIN. CHICAGO. Nov. 9.—Wheat—No. 2 mixed, $1.06%; No. 2 hard winter. $1.01; No. 3 northern spring. $1.02. Corn —No. 2 mixed, 45%®45%c; No. 2 white, 46%0; No. 3 yellow. 44@44%c; No. 3 mixed, 43%@ 44%c: No. 3 while, 46%44%e; No. 4 yellow, 42%@44c; No. 5 mixed, 41%@ 42c; No. 4 white, 43c; No. 5 yellow, 4lift 42%c. Oats—No. 2 white, 35@35%c; No. 3 white, 31%®33%c; No. 4 white, 31(3 32%c.

TOLEDO GRAIN PRICES. TOLEDO, Nov. 9—Wheat —Cash and December. $1.22%: May. $1.28%. Com— Cash, 54@55c. Oats—Cash. 37%@39%c. Rye—Cash, 79c. Barley—Cash, 68c. PRIMARY MARKETS. —Nov. 9 Wheat. Corn. Oats. St. Joseph... 2.000 15.000 2,000 Chicago 37,ias) 402.0Q0 118,000 Milwaukee ... 3.000 16.006 51.000 Minneapolis.. 239,000 13.000 41,000 Duluth 142,001) 6,000- 2,000 St Louis 66.000 35,000 32,000 Toledo 14.000 9,000 10.000 Detroit 1,000 4,000 10,000 Kansas City,. 127.000 13,000 3.000 Peoria 1,000 93,000 20.000 Omaha 1,000 15.000 4.000 Indianapolis.. 18,000 165,.*00 21,000 • Totals 853,000 786.000 317.000 Year ag0...1,507.000 234,000 522,000 —Shipments— Wheat. Corn. Oats. St. Joseph,... 12.000 Chicago 57,000 * 49,000 118,000 Milwaukee 256,000 23.000 Minneapolis.. 95,000 17,000 99.000 Duluth 636,000 St. Louis 67.000 49,000 50.000 Toledo 49.000 7,000 Kansas City.. 103,000 11.000 21,000 Peoria 1,000 34.000 40,000 Omaha 36,00 1.8,000 26,000 Indianapolis.. 3.000 17,0(H) 34.000 Totals 1,059 000 451.000 401.000 Year ago... 902,000 155.000 306,000 —Clearances— Wheat. Corn. Oats. New York... 208,000 11.000 Baltimore .... 100,COO 180,000 Totals 308.000 191,000 Year ago.. .1.089.000 50,000 INDIANAPOLIS CASH GRAIN. —Nov. 9 Bids for car lots of grain and tiny at the call of the Indianapolis Board of Trade were: Wheat—No sales. Corn—Firm ; No. 2 white, 49%@50%e: No. 3 white. 45%@46%v; No. 2 yellow, 49 (ifsoc: No. 3 yellow, 45@46c; No. 2 mixed, 40 (j® 47c. Oats—Firm: No. 2 white, 36@37c; No. 3 white, 34@35c. llav—Steady; No. 1 timothy. [email protected]; No. 2 timothy, $16.50® 17; No. 1 light clover mixed, sl6® 16.50; No. 1 clover, $19(320. —lnspections Wheat—No. 4 red, 1 car. Corn —No. 1 white, 3 cars > No. 2 white, 2 cars: No. 3 white, 17 cars; No. 4 white, 10 cars; No. 5 white, 3 cars; No. 1 yellow, 3 cars; No. 2 yellow, 3 ears; No. 3 yellow, II cars; No. 4 yellow, 19 cars; No. 5 yellow, 9 cars; No. 6 yellow, 2 cars; No. 1 mixed, 2 cars; No. 2 mixed, 3 cars; No. 3 mixed, 1 car; No. 4 mixed, 3 cars; No. 5 mixed, 2 cars; total, 93 cars. Oats—No. 2 white, 2 cars; No. 3 white, 15 cars: No. 4 white, 5 cars; sample white, 1 car; No. 2 mixed, 1 car; total, 24 cars. HAY MARKET. The following are the Indianapolis prices for hay my the wagon load, delivered: Hay—Loose timothy, $10@17; mixed may, $15@16; baled hay, $16@17. Oats—Bushel, now, per bushel, 32@33c. Corn—Old, per bushel, 55®60c. WAGON WHEAT PRICES. Indianapolis flour mills and elevators today are paying $1 for No. 1 red winter wheat; 98c for No. 2 red winter wheat and according to test for No. 3. Oats are quoted at 25c fc: No. 3 white or better. CHICAGO PRODUCE. CHICAGO, Nov. 9.—Butter —Receipts, 4,475 tubs; creamery extras. 41%c; firsts, 35@40; packing stock, 24@26c. Eggs— Receipts, 4,000 cases; current receipts. 50 @s2c; ordinary firsts, 43@47e; firsts. 53® 55c; cheeks, 20@28c; dirties, 29®30. Cheese—Twins, new, 20@20%c; Daisies, 20%@20%c; Young Americas, 20@20%c; Longhorns, 21@21%e; Brick, 21@21%c. Live poultry—Turkeys, 33c: chickens, 19c; springs, 23c; roosters, 16%c; geese, 23c; ducks, 25c. Potatoes—Receipts, 100 cars: Northern Whites, $1.70@2 per 150lb. bag; Minnesota Red Rivers, $1.50® 1.70; Idaho Whites, $2.25.

DOVEBRANDHAMS fA TASTE YOU CAN'T FORGET

SWINE PRICES HOLD FIRM Trade in Cattle Demoralized —Calves Steady to Strong. RANGE OF HOG PRICES. Good Good Good Nov. Miked. Heavy. Light. 2. JB.O *B.OO *B.oo® 8.15 3. 7.75 7.65® 7.75 7.90 4. 7.90® 8.00 7.85® 7.90 B.oo® *.25 5. B.lo® 8.15 7.90® 8.00 8.25® 8.35 7. 7.90® 8.00 7.75® 7.85 8.15 8. 7.35 7.25® 7.35 7.3.' @ 7.50 4. 7.35 7.25® 7.35 7.35® 7.40 Swine prices ruled steady in trade on the local livestock exchange today, with receipts around 9,000 and both shippers with Eastern city connections and local packers displaying good demands. There was a holdover of 1,065 from the market of the previous day, but this did no seem to effect today’s market lu the least. b Local packers established the market, with the shippers falling into line immediately. A fair clearance for the day Was anticipated. Good hogs generally brought $7.35/ while there were a few lights at $7.40 brought [email protected], with the bulk of the sales of that grade around $7.50. Roughs brought [email protected] and stags sold at [email protected]. The bulk of the sales were made at $7.35. The cattle market was termed by the commission men as demoralized. Steers of all grades were generally 50 cents lower, while there were spots as low as 75 cents before the prices of the previous day and $1 below the prices of the market of the corresponding day of the last week. Cows and heifers were 25 to 50 cents lower and bulls 15 to 25 cents lower, while a few cunners sold at steady prices. Commissionmen say' that they do not know how to account for the preseut action of the market, except for large receipts at Chicago. Weakness in the swine market is said by some to have some influence on cattle prices. Receipts for the day ran close to 800 fresh cattle, with a fairly large number of stale cattle in the pens. Calveswere steady to strong, with receipts light at 400 and the demaud good. There was the same top of sl2 on choice veals us on the market of the previous day, while the bulk of that grade sold at $11.50. Sheep and lambs were steady* with receipts light at 200, the quality good and the demand good. Choice ewe and wether lambs sold at SS.SO. HOGS. Best light hogs, 150 to 180 lbs. average $ 7.35® 7.40 Over 300 lbs i.ls® 7.25 150 to 300 lbs 7.15® 7.40 Sows 6.25® 6.75 Best pigs, under 140 lbs. .... 7.50® 7.75 Ton 7.40 Bulk of sales r 7.35 CATTLE. Prime eornfed steers, 1,300 to 1,800 lbs 7.00® 8.50 Good to choice steers, 1,200 to 1,300' lbs 6.75® 7.00 Good to choice steers, 1,100 to 1,200 lbs C.so® 6.75 Good, to choice steers 1,000 to 1,100 lbs 5.00® 6.00 Common to medium steers 800 to 1,000 lbs 4.50® 5.00 Choice yearling steers 8.50® 10.00 —Heifers and Cows— Good to choice heifers C.s>® 8.50 Medium heifers 5.0.1® 6.50 Common to medium heifers .. 4.50® 5.00 Good to choice cows 2.50® 4.00 Fair to medium cows 1.50® 2.50 Cutters 1.50® 2.30 Cauners 75® 1.50 —Bulls— Good to choice butcher bulls. 3.75® 4.25 Bologna bulls *. 3.25® 3.50 Light bologna bulls 2.75® 3.25 Light to common bulls .... —CUlves— Choice veals [email protected] Good veals [email protected] Medium veals 7.00® 9.00 Lightweight veals 5.00® 7.00 j Comuiou heavyweight veals .. 4.00® 5.00 —Stockers and Feeders—- > Good to choice steers, under I 8(H) lbs 5.00® 6.00 .Medium cows 2.00® 3.00 i Good cows 3.00® 4.00 Good heifers 5.50® 7.00 | Medium to good heifers 4.00® 5.00 BIIEEP LAMBS. Eives 2.00® 3.00 Bucks * 1.50® 2.00

WE OFFER WITH OUR RECOMMENDATION THE UNSOLD PORTION OF $250,000 First Preferred 7% Cumulative Stock of the / s Pennsylvania Apartment Hotel Company 1433 North Pennsylvania Street INDIANAPOLIS Tax Exempt in Indiana Free From Normal Income Tax Dated November 1, 1921. Shares SIOO.OO Dividends payable quarterly, January 10, April 10, July 10 and October 10. Callable at 102 and accrued dividend at any dividend date. MATURITIES SB,OOO January 10, 1924 SIO,OOO January 10, 1930 8,000 January 10, 1923 10,000 January 10, 1931 8,000 January 10, 1926 12,000 January 10, 1932 10,000 January 10, 1927 12,000 January 10, 1933 10,000 January 10, 1928 I2j POO ... ....January 10, 1934 10,000 January 10, 1929 140,000 January 10, 1933 THE PROPERTY: The Pennsylvania Apartment Hotel Company will erect a six-story absolutely fire-proof modern apartment hotel, constructed of cut stone, brick and reinforced concrete. This building will cjntain sixty (60) separate apartments, embracing the most modern features known in apartment hotels, including dining room, elevators, etc. LOCATION: The Pennsylvania Apartment Hotel will be located at 1433 North Pennsylvania Street, Indianapolis, five squares north of the new Public Library Building and one and onp-half squares south of the Herron Art Institute. This is one of the choice residential districts of Indianapolis and within easy walking distance of down town. EARNINGS: The estimated annual earnings of this Apartment Hotel will be $54,000, which after deducting operating expenses will leave $41,500 with which to take care of the maturities and dividends. SECURITY: The preferred stock will be based on the property, a six-story fire-proof apartment hotel erected on ground owned in fee simple. PROTECTIONS: No conveyance or encumbrance without the consent of all the Preferred Stockholders. No dividend on Common Stock and no salaries to officers until after provision for all Preferred Stock charges for the ensuing yepr. Fire insurance shall be carried in an amount equal to the preferred stock outstanding. Tornado insurance shall be carried in amount sufficient to protect the preferred stockholders. No floating indebtedness in excess of $5,000, other than taxes not delinquent. LEGALITY • The title and all proceedings authorizing this issue have been approved by our attorneys, Messrs. Smith, Remster, Hornbrook & Smith. Approved by Indiana Securities Commission, Issuer’s License No. 348. \ # „ t Price—Par and Accrued Dividend Telephone or wire your reservation at our expense. BREED, ELLIOTT & HARRISON 109 North Pennsylvania Street Cincinnati INDIANAPOLIS Detroit Chicago The information and statistics contained in this circular have been obtained from reliable sources and are accepted by us as accurate, being the figures on which we based our purchase of the above INDIANA SECURITY COMMISSION DEALER'S CERTIFICATE No. 3

Choice ewes and wether lamos 7.50® 8,50 Seconds 6.50® 7.00 BMek lambs 5.00® 6.50 Culls 2.00® 3.00

Other Livestock

CHICAGO, Nov. 9.—Hogs Receipts, 18,000; market, fairly active andVlOc to 15e higher; bulk of sales, $7®7.30; top, $7.40; heavies, ?7.10®7.35; mediums, $7.15® 7.35; lights, $7.10®7.40; light lights, $7.15 @7.65; heavy packing sows, smooth. $6.35 ®6.90; packifig sows, rough, $6.15®6.60; pig.i, si.23® 7.75. Cattle—Receipts, 12,000; market, dull and barely steady; beef steers, choice and prime, $8.65®12; medium and good, s(>@-10.15; good and choice, $9.50@12; common and medium, [email protected]; butcher cattle, heifers. $4.50® 9.25; cows, [email protected]; bulls, $3.25®6; canners and cutters, cowg and heifers. [email protected]; canner steers, s3®4: veal calves, [email protected]; feeder steers, $4.85® 6.90; Stocker steers. [email protected]; Stocker cows and heifers, s3®s.lo. Slreep. and lambs—Receipts, 15,000; market steady to 25c higher; good to choice lambs, [email protected]; cull and common lambs, ss.so®s; yearling wethers, [email protected]; ewes. $2.50 @4.75; cull and common ewes, $1.50® 2.50; feeder lambs, [email protected]. CINCINNATI, Nov. 9.—Hogs—Receipts, 3,500; market, steady generally; heavies and mediums, $7.75; lights and pigs, $8; roughs, $6.25; stags, $5.25. Cattle—Receipts, 1,100; market, slow steady; bulls, 25 to 50 cents lower; calves, sl2. Sheep and lambs—Receipts, 400; market, steady; ewes, [email protected]; choice lambs, $9.50; seconds, $6.50@7; culls, s3@4. CLEVELAND, Not. 9. Hogs—Receipts, 3.500; market, steady; yorkers, $7.00; mixed, $7.60; medium, $7.60; pigs, $8; roughs. $6.50; stags, $4.50. Cattle — Receipts, 300; market, steady; good to choice steers, $8 50®9; good to choice heifers, $5®6.50; god to choice cows. s4*o 5; fair to good cows, s3@4; common cows, s2®3; good to choice bulls, ss®6; milkers, $45@75. Sheep and lambs—Receipts, 3,000; market 25c lower; top, $8.75. Calves—Receipts, 700; market, steady; top, sl..

EAST ST. LOUIS, Nov. 9.f-Hogs—Re-ceipts, 1,500; market generally steady; pigs, 10®15c higher; mixed and butchers, [email protected]; good heavies. [email protected]; roughs. ss@f>.2s; lights, [email protected]; pigs, [email protected]; bulk of sales, [email protected]. Cat-tle-Receipts, OjOOO; market steady to Iveak; native beef steers, [email protected]; yearling steers and heifers. $8®1(); cows, $3.25 @5.50; stockers and feeders, $3.25@6; calves, slo® 10.50; canners and cutters, [email protected]. Sheep and lambs—Receipts, 1.500f market 25s lower: mutton ewes, $3.50®4: lambs, [email protected]; canners and choppers, s2@2. EAST BUFFALO, Nov. 9 Hogs—Receipts, 1.600; market, active;, yorkers, [email protected]; pigs, [email protected]; mixed, sß® 8.15; heavies, $7.75®8; roughs, $6.25® 6.75; stags, $4.50@5. Cattle —Receipts, 2(H); market, active; prime steers, sß®9; shipping steers, sß@9: butcher grades, [email protected]; heifers. [email protected]; cows, $1.50 @5.50; bulls, [email protected]; feeders, $4.50(05; milk cows and springers, $40®135. Calves—Receipts, 250; market, active; cull to choice, $5.50@13. Sheep and lambs —Receipts, 2,400; market, active; choice lambs, [email protected]; cull to fair, $6.50® 8.75; yearlings, [email protected]; sheep, $1.50 ®4.75.

PITTSBURGH, Nov. 9.—Hogs—Receipts, 2,300; market, 25 to 40 cents lower; prime heavies, [email protected]: mediums, [email protected]: heavy yorkers, s7.Bo®S; light yorkers, $8®8.25; pigs, $8.25®8.50; roughs sCi®o.so: stags. [email protected]; heavy mixed, [email protected]. Cattle—Receipts, light; market. steady; choice, $8.25®5.75; prime, $7.75(0 8.25; good. [email protected]; tidy butchres, $([email protected]; fair, [email protected]; common, $4.50® 5; common to good fat bulls. [email protected]; common to good fat cows. s2@s; heifers, [email protected]; fresh cows and springers, $35 @95; veal calves, sl2; heavy and thin calves, ss@B. Sheep and lambs—Receipts, 900; market, steady; prime wethers. $4.75 @5: good mixed, $4.25(0 4.00; fair mixed, $3 .25(0 4; culls and commons. 75c®51.75; choice lambs, $9.25. INDIANAPOLIS PRODUCE. Butter—Local dealers are paying 43® 4ac per lb. for butter delivered in In- . dlanapclls. ; Eggs—Loss off 54@55c. Butter—Pack- | lDg stock, 19@20c. Poultry—Fowls, 17® |23c; springers, 20@24c; cocks, 10@12c; ; young ten turkeys, 8 Iba. up. 33c. young 'tom turkeys, 12 lbs., up, 33c; old tom stags, 13c; turkeys, 27@30c; cull thin turkeys hot wanted; ducks, 4 lbs. and up, 18 I @2oe, spring ducks, 3 lbs. and up, 20c: geese, 10 lbs. and up, "2@l4c: rabbits, drawn, per doz, $? . squabs, 11 lbs. to tb. doz., $4.50 j old gt per doz. $5. Buterfat —Local dealers are paying 43c per pound for all butetrfat delivered ir Indianapolis.

Erbstein Demands Trial or Freedom LOS ANGELES, Cal., Nov. 9.—Another hot fight over the demand for an immediate trial of Mrs. Madalynnne Obenchain, indicted with Arthur C. Burch for the murder of J. Belton Kennedy, was imminent, today when Charles E. Erbstein of Chicago, Mrs. Obenchaln’s attorney, prepared to apply for a writ of mandamus in the district court of appeals. Erbstein anounced his application for a writ was to compel Superior Judge Reeve to either rismiss the indictment against Mrs. Obenchain or transfer her case to some other court for trial immediately. Substantially it was an appeal from Judge Reeve’s action late yesterday in setting Mrs. Obenchain’s case to follow the trial of Burch, which he continued until. Nov. 22.

Bryan to Report Arms Conference WASHINGTON, Nov. 9.—Wililam Jennings Bryan arrived in Washington today to write a daily interpretative dispatch on the Arms Limitation Conference for the JJnited Press. The former Secretary of State, author of the series of Bryan arbitration treaties, designed to prevent war and lifelong worker for world peace, said his mission here is to inform the people of the conference “possibilities, probabilities and difficulties” and thus to bring to bear on Its deliberations the force of an intqjjigent public opinon. Woman Elected to City Commission x Special to The Times. MICHIGAN CITY, Ind., Nov. 9.—Ella K. Barnes, was elected member of the city commission here yesterday. Four men also were elected. The commission of five will select a city manager in January. The commission elected was backed by a committee of citizens while a slate backed by the city hall officeholders was defeated. 270 Press Seats for 1,500 Correspondents WASHINGTON. Nov. 9.—'The task of allotlng press seats for tile open sessions of the conference was completed today after an all night session of the Standing Committee of Correspondents. With a tptal of 270 seats for the press, the committee had application for more than 1,500 seals. These Included newspapers in virtually. very civilized country. There were a number of applications fro mlndia and even one from a Jerusalem paper.

CLEVELAND PRODUCE. CLEVELAND, -Nov. B.—Butter—Extra, in tubs. 50%@51c; prints, 51%@52c; extra firsts. 49%@50%c; firsts, 48%@49c; seconds, 39%@40c: packing stock, 27@ 27%e. Eggs—Fresh gathered, northern extras. 59c; extra firsts, 58c; Ohio firsts, new cases, 55c; old cases, 53c; Western firsts, nets cases, 50c. Poultry—Live, heavy fowls, 25@26c: light. 16@18c; springs, light. 17@18c; live spring ducks, 24@27c; turkeys, 30@36c. Potatoes— Miehigans, $2.70@3 per 150 : lb. bag; Early Ohlos. $2.75@3; sweet potatoes. Jerseys, [email protected] per barrel, [email protected] a hamper. 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. Plates—No. 2. )c; No. 3, 9c. Links—No. 2,28 c: No. 3,24 c. Bounds —No. 2,15 c: No. 3.12 c. .. AMBASSADOR TO ARGENTINA. WASHINGTON, Nov. 9—John W. Riddle of Conneetieul today was nominated by President Harding to be ambassador to Argentina. Mr. Kiddle was ambassador to Russia between 1906 and 1909.