Indianapolis Times, Volume 34, Number 160, Indianapolis, Marion County, 15 November 1921 — Page 12

12

NAVY PROGRAM FAILS TO BOOST STOCK PRICES Several Features Embraced in Reactionary Tendency of Market. OPERATORS UNCERTAIN Special to Indiana Daily Times and Philadelphia Public Ledger. BY MONITOR. NEW YORK, Nov. 15— Undoubtedly the action of the stock market came as a disagreeable su. prise to many ■who had hoped to see the favorable impression created by the Hughes’ disarmament proposals reflected In rising prices for securities. The explanation for reactionary tendency would embrace several features, cone of which would be conclusive in itself. One was the feeling that the market had advanced to a point where profit taking was in order and that encourageing news of the character mentioned furbished n strong spot for selling. Another was the belief that no matter how beneficial might be the ultimate effects of the program suggested, a certain amount of dislocation in various industries and companies would be entailed. Consequently when selling made its appearance at the opening in Bethlehem, Crucible and other steel shares, even the most bullish operators became uncertain of their position. The sharp rise in Mexican Petroleum and other members of the oil group and the strength exhibited by the leathers and coppers, merely delayed the attempt to take down profits. Toward the close the selling gained in volume and the undertone became more unsettled. Weakness of a special character was displayed by a few specialties, such as Industrial Alcohol, Wilson & Cos. and the rubber and tire companies. In the latter case, this was due to the announcement of further price reductions. Xotwithstand the disappointment exhibit made in the session there is no doubt the broad sentiment of underlying optimism has been greatly increased as a result of the auspicious beginning of the di.- irmament conference and it is’ felt that the constructive suggestions will not be entirely confined to proposing a naval holiday.—Copyright, 1921, by Public Ledger Company. WALL STREET GOSSIP BY MONITOR. Although the Hughes disarmament proposals were greeted xvith widespread approval throughout the street, it -as but natural that such concrete suggestions should have a rea*-tionarv effect upon certain portions of the market. This Influence had a direct bearing on the steel shares, particularly Bethlehem and Crucible, although other issues symp. thizud with the weakness in the first named stocks. Bethlehem Steel B. opened down a point and svus heavily sold throughout the session. Crucible, while not so active, was almost as weak, and the tet loss on both stocks was more than three points. The possibility that a naval holt lav for ten years would be declared necessarily would cause a d:slocati* nos the business of Bethlehem, even if the management should find itself able to speedily readjust the affairs of the company 'to the changes of things. Crucible might not be affected as much as Bethlehem, nnd it is possible that much of today's selling was more on the theory that Bethlehem and Crucible were famous “war brides” and would be adversely affected by a peace pregram than on any actual knowledge of the extent t> which their business might have to be re-organized. In the early trading the oils showed marked strength with Mexican Petroleum crossed 117 on favorable reports from drilling operations. Profit taking which set in througnont the rest of the petroleum group, particularly the Standard Oil issues, soon spread to Mexi-ati Petroleum, and before the beginning of ttelast hour, the reaction was general among the oils. Rubber and Tire companies were adversely affected by announcements of price cuts by the Goodyear, Miller and General Tire and Rubber Ccainaoies with reductions ranging from 10 to .70 per cent. The only important producer that has failed to participate in the price-cutting regime is Goodrich, which is expected to fall in line in the near future. IT. S. Industrial Alcohol made anew low level and closed within a fraction of the bottom at a net loss of 2*4 points. A dividend meeting is scheduled for this week and the Street was filled with rumors of an adverse character. The sharp advance.in National Lead was lined up in the minds of operators with the recent strength in American Linseed. The extensive building operations throughout the country, which necessitate a great deal of house painting and interior decorating, call for greatly increased amount of white lead and linseed oiL It was reported the proposed financing of the American Sugar Refining Companyhad been postponed for several mouths. The hide and leather stocks were consistently strong throughout the day. En-di-ott Johnson, American Hide and Leather and Central Leather were freely bought. The weakness In the stock of Wilson & Cos., which broke to new low levels, is due to a report that the company contemplates an issue of additional stock. Semi-official denials that such a step contemplated failed to check liquidation and the Stock closed practically at the bottom—Copyright, 1021, by I'ublic Ledger Company.

Weather

The following table shows the state -f the weather at 7 a. m.. Nov. 15, as observed by U. S. Weather Bureaus: Station. Bar. Temp. Weather. Indianapolis, Ind... 30.26 29 Clear Atlanta, Ga 30.12 54 Rain Amarillo, Texas.... 29.92 38 PtCldy Bismarck. N. D 29.88 28 Cloudy Boston, Mags 29.84 40 Clear Chicago, 111 30.20 24 Clear Cincinnati, Ohio.. 30.2S 28 Clear Cleveland. Ohio 30.18 34 Cloudy Denver, Colo 29.86 36 Clear Dodge City. Kan... 29.94 34 Clear Helena. Mont 29.72 34 Clear Jacksonville, Fla... 30.12 60 Clear Kansas City. M 0.... 30.08 42 Clear Louisville, Ky 30.26 34 Clear Little Rock. Ark... 30.10 44 Cloudy Los Angeles, Cal... 29.98 58 •Cloudy Mobile, Ala 30.08 70 Cloudy New Orleans, La.. 30.00 72 Cloudy New York. N. Y.... 30.00 42 Clear Norfolk, Va 39.10 50 Clear Oklahoma City 29.98 44 Clear Omaha. Neb 29 98 38 Clear Philadelphia, Ta.... 30.06 44 Clear Portland, Ore 29 88 42 Cloudy Rapid City. S. D.. 29.72 20 Clear Roseburg, Ore 2998 42 Rain San Antonio. Texas 29.92 72 Cloudy San Francisco. Cal. 29.94 52 Clear* St. Louis, Mo 30.20 36 Clear St. Paul. Minn.... 30.06 28 Cloudy Tampa, Fla 30.10 60 Clear Washington,-D. C.. 30.12 42 Clear WEATHER CONDITIONS. Since Monday morning rain* itave (alien in the east Gulf and Atlantic Coast States and rain or snow has occurred in the war Northwest. The depression now covering the northern Rocky Mountain region Is causing higher temperature* eastward over the middle Plains State*, but the rending* are lower from the Great Lakes to the west Gulf coast, due to eastward movement f n field of high pressure which yesterday covered the trans-Mississippi States. INDIANA HIGHWAYS. * Improved highways of the State are In good condition. Unimproved roads are rather rough and muddr. J. H. ARMINGTOX. Meteorologist, Weather Bureau.

N. T. Stock Exchange

(By Thomson & MeKinnon.) —Xov. 15— Trey. High. Low. Close, close. Allied Chem.... 40Mi 45% 40% 45% Ajax Rubber... 19% 19 10% 19% Allis-Chalmers.. 30% 34% 33 33 Am. Agri 33% 32% 33% 32 Am. B. Mag. Cos.. 33 32 32% Am. B. Mag Cos. 33 32% 32% Am. Can 30% 30 30% 30% Am.H. & L.com. 11% 11 11% 11. Aw.H. & L.pfd. 57% 34 57% 33% Am. Ice 65% 65% 65% 65% Am. I. Co"rp.... 36% 36 30% 36% Am. Linseed.... 34% 32% 33 32% Am. Loco 94% 91 94 93 Arn.S. A Ref... v 0 39% 39% 39% Am. Sug. Ref... 54% 53% 51% 33% Am.S.Tob. Cos.. 33% 32% 33% 32% Am. Steel Fdy.. 29% 28% 29% 29 Am. Tei. & Te 1.112% 111% 112% 111% Am. Tobacco 124% 123% 124 123 Am. W001en.... 78% 7,8 78% 78% Atlantic Pete... 22% 21% 22% 21% Anaconda Min.. 43% 42% 43's Atchison 8654 86% 80% 80% Atl. Gif. &W.l. 32 30% 81;, .il , Baldwin Loco.. 95% 93% 94% 93% B. A 0 37 30% 30% 30% Beth. Steel (B). 53% 51 % 54% u 4 . California I’ete. 42% 42% 42% 42% Can. l’ac. Ry.. 114% 114% 114; s 114* Central Leather 32% 31% 31% 41% Chandler Motors 40% 45% 45% 40% C. A 0 34% 54% 54% 54% C., M. A St. P.. 23% 23 23 22% CM A St. P pfd 37 30% 30% 30% Chicago A Kw.. 65% 08% 08% 08% C., K. I. A P-... 32% 32 32 % 32 CRIAP opc pf CS% 68% 68% 68% C R I A P 7 pc pf 80 SO SO 80 Chili Copper.... 12% 12% 12% 12% Chino Copper.,. 26% 20 26 26 Col. F. A 1 24% 24% 24% 24% Colurn. Gas.... 62% 62 62% 62% Coluiu. Graph.. 3% 3% 3% 3% Con. Gas 92 91 91 92% Con. Can ...... 47% 47% 4754 46% Cosden Oil 33% 38 3. 53 Corn Prods.... 88% 87*% 8854 88 Crucible Steel ..04 03 63% 62% Cub. Am. Sugar.. 14 1354 13% 14 Del. A Hudson .108 108 10S 108% Del. A Lack.... 112 108 111 1075a Erie 13 1154 11% 12 Erie Ist pfd..., 17% 17% 17% 11% Fam. Plays 6754 64% 6754 63% Fisk Rub. C 0... 10% 10 10% 10% Geu. Asphalt... 63% 01% 0254 02% Gen. Electric....l34 13354 13354 133 Gen. Motors.... 11% 11% 1154 1154 Goodrich 32_ 31% 31'% 31% Gt. North, pfd.. 7354 73 73% 72% Gt. North. Ore. 3254 32% 32 1 j 32% Houston 0i1.... 78 70% 70% 7754 Haskell Barker 78% 70% 70% 76% Illinois C utral. 90% 90% 95% 9554 Inspir. Ci _>per.. 36% 30 36_ 30 Indiahoma 3% 3% 3% 3% Ia vine, oil 1054 16% 1054 10'/* Inter. Hervester 77% 77 77 % 70% Inter. Nickel.... 1454 13% 13% 13% Inter. Paper.... 55% 51% 54% 54% Island Oil A T. 3% 2% 33 Kan. at- 50... 24% 23% 24 24% Kelly-Spg. Tire 41’a 1054 41% 4054 Keunecott Cop.. 24% 23% 23% 23% Lack. Steel 4054 40% 4054 40% Lehigh Valley.. 55 5454 5} 54% Lee Tire 27% 27% 27% 2i% Loews, Inc 15% 15 1554 15 Loft Candy.... 9% 9% 9% 9% •May Stores .. 88 88 88 91 Marine C0m.... 1154 11% ll’s H 54 Mariue pfd. ... 51 56% 5054 5054 Mont-Warii 17 1554 13% 17 Maryland Oil.. 30% 29% 30% 29% Mexican ret..,.114% 1105 j 112% 113% Miami Copper.. 24 23% 24 23% Middle S. Oil.. 14% 14%-v 14% 14% Midvale Steel.. 24% 24% 24% 24% Missouri Pac... 18% 18% 1554 18% Missouri Pac p 43 42% 42% 42% Nut. E. and S. 38% 34% 34% 39 National Lead 80 79 79 79% Nev. Con. Cop. 13 12% 13 13 N. Y. Air Brake 00 00 60 00 N. Y. Central... 73% 7254 7254 72% New Haven 1354 13% 13% 13% Norf. A West... Oil % 9554 9554 6® North Pacific. .. 78 70% 78 70% Kkl. Pro. A Ref. 3% 3% 3% 354 Pacific Oil 45 4454 44% 44% Pan-Am. Pete... 50% 49 49% 50 Penna. Ry 35% 355s 3554 3554 People's Gas.... 56% 50 50 56% Pierce-Arrow ...13% 12% 13 13% Pierce Oil 754 6% 71 4 7 Pittsburgh Coal 60% 5° 59 5954 I‘rstd. Steel Car 6"% ,i9% 60% 0954 Pulmn. Pal. Car.loO’s 105% 109 105% Ry Steel Spgs.. 89% 89% 89% 89% •Pure Oil 3554 33 % 35% 30 Reading 7154 7054 70% 69% Rep. Irn. A Stl. 49% 48% 49% 49 Uyl. I)ch. N. Y. 50% 47% 48 50 ,-4 Sears-Roebuck. 00% 60 CO 60% Sincalir 23% 23% 23% 93% South. Pacific... 79% 7*% 79 79 Southern Ry.... IS% 18% 18% 78% St. L A S.W.Ry 22‘s 22 22, Stand. Oil N. J. 18954 166 106 160 St.L. A S.F.com. 2254 Stron Carb 30% 30% 30% 29% Studfehaker ..... 74% 73 73,% 73% Tex. Coal A Oil. 29% 25% 29 29% Texas Cos 45% 45 43% 45% Texas A Pacific. 23 22% 23 2254 Tobacco Prod... 60 5954 00 5954 Trans. Oil 9 8";4 9 854 Union Oil 21% 21 21% 21% Union Pacific. ..123% 122% 122% 1225* Uutd. Ret. Stors 51% 49% 51% 50 U. S. Food Pro. 11% 11% 11% 11% United Fruit.. .117% 117% 117% 117 United Drug... 7554 73% 75 73 U. S. Ind. Alco.. 4254 40% 4154 41% U. S. Rubber... 50% 48% 49 48% U. S. Rubber p 91% 90 IK) 00% U. S. Steel 82% 81% 82% 81% U. S. Steel pfd. 113 112% 112% 11254 Utah Copper... 56% 55% 55% 5054 Vanadium Steel 3154 3054 31% 31% Vir.-Car. Chem 31 29'% 31 29 Wabash 7 7 7 7 Wabash Ist pfd. 20% 20% 20% 20% West. Union 88 8754 88 87% West. Electric.. 47% 46% 47% 40% White Motors... 37'4 30% 37% 3754 W-Overlnnd ... 654 554 6% 6 Wilson A Q 0... 28 1.54 28 27% Worth. Pump.. 4254 4154 4154 41% White Oil 12 12% 12% 1354 West. Pacific.... E>% ISM, 19 18 •Ex-dividend. NEW YORK LIBERTY BONDS. —Nov. 15— I’rev. High. Low. Close, close. Liberty, 3%S 95.18 94.8!) 93.10 95.12 Liberty, Ist 45.. 94.30 94.00 94.30 Liberty, 2nd 4s .L... 94.48 94 60 Liberty, Ist 4%s 94.00 94.40 94.20 94.50 Liberty, 2nd 4%s 94.00 94.08 94.22 94.02 Liberty, 3rd 4%s 90.28 95.94 90.20 90.30 liiberty, 4th 45is 94.60 94 24 94.31 94 04 Victory, 4%5.... !f9 74 99.70 99 70 99.70 Victory, 4%s 99.70 99. CS 99.0S 99.70

In the Cotton Market

NEW YORK. Nov. 15.—White the consumption figures were liberal they failed to reach expectations, but owing to the strength of cables, they exerted no depressing influence on the cotton market in the early trading today. On the contrary, the list was buoyant, with first prices 24 to 37 points net higher. At the end of the first fifteen minutes the market waj about 30 points net higher. Opening cotton prices, December 10.90 c; January. 10.80 c; February, 10.70 c; March, 10.85 c; October, 15.50 c. After pressure of Wall street and southern selling in the last hour, the market rallied towards the close. The final tone was steady at a net advance of 3 to 10 points. —Cotton Futures— Open. High. Low. Close. January 18.80 10.85 10.18 10.44 March 10.85 10.85 10.23 10.47 May 10.55 10.55 10.00 10.55 July 10.15 10.20 lJ.i- 15.98 October 15.50 15.55 15.15 15.35 December 10.90 10.90 10.50 10.05 LIVERPOOL, Nov. 15.—Spot cotton was quiet at the opening today. Prices were steady an l sales close to 5,000 bales. American middlings, fair. 13.32d: good middlings, 11.02d; fully middlings, 11.22d; middlings. 10.82d; low middlings. 9.52d; good ordinary, 7.7 Yd; ordinary. 7.C2d. Futures opened steady. CHICAGO PRODUCE. CHICAGO, Nov. 15.- Rutter—Receipts, 0.710 tubs; creamery extras, 44Vic; firsts, 06%@43%c; packing stock, 234) 21c. Eggs \ —Receipts, 3,500 cases; current receipts, l 5047; 52c; ordinary firsts, 43@470-; firsts, 1 55Cq55c; checks, 2C@2Bc : dirties, 284730 c. i Cheese —Twins, new, 194/ 19%c; Daisies, 20(820'/_.e; Young Americas, 20c; Longhorns, 20c; Bricks, 19c. Live Poultry— Turkeys, 35c; chickens, 18c; springs, 18c; roosters, 15c; geese, 22e: ducks. 20e. Potatoes—Receipts, 97 cars; Wisconsin Whites, $1.73472.05 per 150 lb. bag; Minnesota Whites. $1.75(172; Michigan , Whites, $1.50472; Minnesota and North j Dakota Red Rivers, [email protected].

STOCK MARKET CLOSES STEADY Active Issues Show Good Gains in Final Hour. NEW YORK, Nov. 15.—The stock market closed steady, showing improvements ; in the last hour, many active issues ! moving up about 1 point. United States Steel rallied from 81% to 8254 and Baldwin Locomotive moved upo from 03% to 94%. Mexican Petroleum rallied to 112%. Famous Players sold up to 0754, a gain of over 4 points, and American Hide and Leather preferred rose 3% points to 47 54Unit'd Retail Stores gained 2 points at 51%. The railroad shares also showed a better tone. Total sales of stocks were 653,800 shares; bonds, $10,225,000. —Nov. 15. — (By Thomson A McKinnon.) x The public had an opportunity to ! further study the effect of the American i proposals submitted to the disarmament ! conference and *t Is quite evident that no i justification was found for the very pessimistic feeling that was displayed yes- | terday in relation to the steel companies. I While there are no official figures avail- ' able, the opinion has been expressed that the percentage of steel production devoted to navpl construction nnd armament is too insignificant to be an important market factor, u. 1 during the early trading a decidedly better tone prevailed, with a liberal volume of buying orders for ail stocks, including the steel shares. There was also on increased demand for railroad shares, evidently basid upon the prospect *>f a speedy enactment of the railroad funding bill, and also influenced by the determined stand taken by the officials of the road to obtain a further reduction of wages. And furthermore, there is a prospect for increased business, since it appears that production of steel mills has been fur.her increased. During the mid-day trade the market turned easier, w'-th considerable pressure directed against various issues, but largely by the professional element, there being no indication of liquidation from commission house sources. These reactionary periods are incidents of the market. They must be counted upon, but with basic conditions on the mend npd the volume of business gradually increasing there is no reason to expect these reactions .to be more than temporary. We continue to suggest the advisability of taking advantage of them for the purchase of stocks. TWENTY STOCK AVERAGE. NEW YORK, Nov. 13. —Twenty industrial stocks Monday averaged 75.50, off 90 per cent. Twenty active rails averaged 72.92, off .39 per eeut. CLEARING HOUSE STATEMENT. NEW YORK, Nov. 15. —Exchanges. $799,800,000; balances, $07,209,000; Federal Reserve Bank credit balances, $31,000,000.

Money and Exchange

Indianapolis bank clearings Tuesday Wine $3,888,090. NEW YORK, Nov. 15.—Foreign exchange opened steady today with demand Sterling %e higher at $3.97%. Francs rose 54 centime to 7.3054 c for cables and 7.2954 c for checks. Lire yielded 1 point to 4.21 e for cables and 4.20 c for cheeks. Belgians francs, were 3 centimes higher at i.o4c for cables and 7.03 c for checks. Marks yielded 1% points to .0038%c. Guilder cables were 35.00 c; checks, 34.08 c. Sweden kronen cables were 23 30c; checks, 23.25 c. MOTOR SECURITIES. (By Thomson A McKinnon) —Nov. 15— —Closing— Bid. Ask. Briscoe 9 10 Packard com 5% 6 Packard pfd 04 GO ! Peerless gg 39 Continental Moto'S com 5% 5% j Continental Motors pfd SO 85 I llupp com 10% n ! llupp pfd. 92 98 ! lteo Motor Car 18% 19 Elgin Motors 3% 414 Grant Motors 1% Ford of Canada 244 247 Intermit. Motors com 27 National Motors 2 4 Federal Track 11 13 Paige Motors 12 14% Republic Truck 7% NEW YORK Cl RIS MARKET. (By Thomson A McKinnon.) —Nov. 15— —Closing— Bid Asked. Acme Packing 90 95 Curtis Aero, com 154 2 Curtis Aero, pfd 10 10 Goldfield Con 4 0 .4umbo Extension 5 7 Imperial Oil (Del.) 10% 10% International Petroleum .... 15% 15% Nlplsstng 5% 5% Standard Motors 4 4% Salt Creek it 1154 Tonopali Extension 1 7-10 1 9-10 Tonopab Mining 1% 1% United I’. S. new 1% 1% If. S. Light and Heat 1% 1% U. S. Light and Heat pfd.... lit, 1% Wright Martin 2 5 Yukon Gold Mine Cos 1% 154 Jerome is 32' New Cornelia 1454 15% United Verde 20 27 Omar Oil 11-10 13-16 Rep. Tiye 15 23 ACTIVE OIL STOCKS. (By Thomson A McKinnon) —Nov. 15— —Opening— Bid. Ask. Anglo-American Oil 19% 19% Atlantic Lobos 10% 11 Rorne-Scryinser 325 * 200 Buckeye l'ipe Line Mi 8.8 Cliesebrougli Mfg. Cons 155 105 Continental Oil, Colorado... 125 135 Cosden Oil and Gas 0 7% Crescent Pipe Line 29 31 Cumberland Pipe Line 145 155 Elk Basin Pete 7% 7% Eureka Pipe Line 87 92 Galena-Signal Oil, pref 95 Galena-Signal Oil, c0m...... 48 52 Illinois I’ipe Line 171 170 Indiana Pipe Line 82 85 Merritt Oil 1144 12 Midwest Oil 2% 354 Midwest Ufg 175 National Transit 29 31 New York Transit 148 153 Northern Pipe Line 92 '.Mi Ohio Oil 295 309 Oklahoma P. A K s'/, 5% Penti.-Mex 24 28 Prairie Oil and Gas 575 58*1 Prairie Pipe Line 230 240 Sapulpa Itefg 4' '4% Solar Refining 390 410 Southern Pipe Line 92 90 South Penn Oil 235 215 Southwest Penn Pipe Lines. 55 00 Standard Oil Cos. of Ind 88% 88% Standard Oil Cos. of Kan.... 570 590 Standard Oil Cos. of K.v 410 430 Standard Oil Cos. of Nab 170 190 Standard Oil Cos. of N. Y.... 308 375 Standard Oil Cos. of 0hi0.... 410 430 Swan A Finch 45 55 Vacuum Oil 249 250 Washington Oil 35 42 CHICAGO STOCKS. (By Thomson A McKinnon.) —Nov. 15— Open. High. Low. Close. Armour pfd 93 Armour Leather... 12% ” Carbide A Carbon. 45% 45%' 45 45 Libby 7 7% 0% 7 Mont.-Ward 10% l(i% 15 15% National Leather.. 2% 2% 2% 2% Piggly Wiggly 13% 10 13% lo' Sears-Roebuek .... 00% Stewart-Warner ... 23% | Swift A Cos 99% 99% 97% 97% swift International 22% 22% 20% 20% CLEVELAND PRODUCE. CLEVELAND, Nov. 15.—Butter—Extras in tubs. 50%®j51c; prints, 51%®52c; extra first, 4S%®soc; firsts, 48c®49c; seconds, 39@39%c; packing stock, 20%fi? 27%c. Eggs—Fresh gathered northern extras, 59c; extra firsts, 5Se, Ohio firsts, new cases, 05c; old cases, 53c; western firsts, new cases. 00c. Poultry -Live, heavy fowls, 24*25c; light fowls. 10® !8e; light springs. 17@18c; live spring ducks, 2(i@2Be; turkeys, 37@38e. Potatoes— Michigan*. $2751413 per 150-lb hag; Early Ohio, $2.75*3.10. Sweet potatoes—Jerseys, $3.15 per barrel. NEW YORK METAL MARKET. NEW YORK, Nov. 15.—Copper—Quiet; spot offered, 12.14 o; November and December offered, 12%c; January offered? 12%c. Lead—Dull; spot, November anil December offered, 4.72%c. SpelterSteady: spot nnd December offered, 4.70 c; January offered, 4.SOc.

INDIANA DAILY TIMES, TUESDAY, NOVEMBER 15,1921.

New York Bonds

FOREIGN GOVERNMENT BONDS. ;By Fletcher American Cos.) —Nov. 15. —, Bid Ask Arg. (Unlisted) 5s Sept. 1, ’45 72 7o Belgian tis Jaii. 1 ’25 95% 95% Belgian 7%s June 1, ’45 103 104 I Belgian 8s Feo. 1, '4l !04% 195 ; Berne 8s Nov. 1, ’45 190 197 | Chile 8s Feo. 1, ’4l 109% 101 Christiania 8s Oct. 1 ’45 105 100 Copenhagen 5%s July 1, '44.. 84% 85% Danish iiun 8s Feb. 1, ’4O 105% 100% Denmark 8s Oct. 15, ’45 100 107 ♦Canadian 5%s Dec. 1, ’22 90 91%. •Canadian 5%s Nov. 1, ’23.. 89 % 90% •Canadian 5%s Nov. 1, ’24.... 80 90'% ♦Canadian 5s Dec. 1, ’25.... 85% 87% Canadian 5s Apr. 1, ’2O 94% 95% •Canadian 5%s Dee. 1, ’27.... 89% 90% Canadian 5%s Aug. 1, ’29.... 90% 97 Canadian 5s Apr., 1, ’3l 94% 95% •Canadian 5s Oct. 1. ’3l 84% 80 •Canadian 5%s Nov. 1, ’33.... 89 % 91 •Canadian 5%s Nov. 1, ’34.... 80% 88 Canadian 5s Mch. 1, ’37 90 91 •Canadian 5%s Dec. 1, '37.... 91 92% •French (Viet.) 5s Opt., '31.. 55 50 •French 4s Opt., ’43 45 40 French 8s Sept. 15, ’45 101% 101% •Italian (War) 5s 32 33 Jap (Ist) 4%s Feb. 15, ’25.. 84% 85% Jap (2d) 4%s July 10, ’25.... 84 % 85% Jap 4s Jail. 1, ’3l 68% 09% Norway Ss Oct. 1, ’4O 100% 107 Sao Paulo 8s Jan. 1, ’3O 100 100% Swedish Os .Tune 15. '39 94% 95% Swiss 5%s Aug. 1, '29 91 ! )5 95 Swiss 8s July 1, ’4O 110 111 11. K. 5%s Nov. 1. ’22 99% 99% U. K. 5%s Aug. 1, '29 94% 95 U. K. 5%s Feb. 1, ’37 93 % 94% *U K. (W. L.) 5s Fell. 1. ’29..100 107 Zulich 8s Oet 15, ’45 102% 103 Brazil 8s 95% 90 French 7%s 101% 102% Uruguay 8s 99% 99% •Internal loans. CORPORATION BONDS. Bid. Ask. Alum. Cos. of A. 7s, Nov. ’25.109% 100% Am. Cotton Oil 6s, Sept. 2, '24 95% 96 Am. Tel. 6s, Oet. ’22 99% 100% Arner. Tel. 6s. Feb. ’24 99% 100 Am. Thread 6s, Dee. ’2B 1)9% 100% Am. Tob. 7s, Nov. '22 101 101% Amer. Tob. 7s, Nov. '23....101% JO2 Anaconda os, Jan. '29 94% 95% Anaconda 7s, Jan. '29 99% 100% A.-Am. Oil 7%5, Apr. ’25 103% 103% Armour 7s, July 15, ’3O 102 102% Atlantic Ref. o%s, Mch. ’31..103% lot Bell Tel. of Can. 7s, Apr. ’25 99% 100% Beth. S. 7s, .Tilly 15, '22 100% 100% Beth. S. 7s, July 15, ’23 100% 100% Can. Pac. Os, Xeh. 2, ’24 99% 100% Cent. Arg. Ry. os, Fell. '27. .88% 90 C. R. I. & P. 6s, Feb. ’22.. ?:>% 100% Con. Gas Bs, Dec. *2l 99% 100% Copper Exp. Bs, Feb. 15, ’22.100% 101% Copper Exp. Bs, Feb. 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....100 100% Fed. Sugar 6s, Nov. ’24 96% 97% Goodrich 7s, Apr. '25....... 97% 98 Gulf Oil os, July, ’23 99% 100% Gulf Oil 7s, Fell. ’33 102 102% Hocking Vnl. 6s, Mch, ”24.. 97 97% Humble Oil 7s, Mch. 15, '23... 99% 100 Int. It. T. 7s, Sept. '2l 74% 70% Kenn. Copper 7s. Fell. '30.... 99% 99% Laclede Gas 7s, Jan. ’29 90 93% Proctor it G. 7s. Mch. ’22....100% 100% Proctor A G. 7s. Mch. *23...101% 101% Pub. Ser. X. J. 7s, Mch. ’22. 98% 99% R. .T. Reynolds 6s, Aug. ’22.1t);'% 109% Sears Roebuck 7s, Oct. 1.5, '22.100 100% Sears Roebuck 7s, Oct. 15, ’23.100% 100% Sinclair 7%h, May 15, '25... 94% 93% Solvay & Cle 8s Oet. ’27...102% 103 Southern Ry. os, Mch. '22... !i9% 99% S. W. Bell Tel. 7s, Apr. ’25..100% 1(0 Stand. Oil (Cal ) 7s, Jari. ’31.105% M 5% S. Oi! (N. Y.) 7s, Jan. ’25-'31.103% 107% St. P. U. D. 5%5, Dec. 15, ’23 98% 99 Swift 7s. Oct. 15. ’25 100% 101% Texas Cos. 7s, Mch. 1, '23... 101 101% Utah Sec. Os, Sept. 15. ’22.... 93% 97% Western El 7s. Apr. ’25 1(3 103% Westinghouse 7s. May, ’31...104% 105%

Local Stock Exchange

—Nov. 15STOCKS. Bid. Ask. Ind. Ry Sc Light com .' 00 Ind. Ry. & Light pfd 75 Indpls. A &. r.. pfs 75 iDilp’s. A N. W. pfd 75 Irdp's. St. Ry 41 T. H., I. & L. pfil 50 T. H., I. A E. pfd 15 T. 11., 1. A E. com 5 U. T. of Ind. com 1 IT. T. of ind. Ist pfd 7 IT. T. of Ind. 2d pfd 2 Adv.ince-Rumely com Advanee-Rtimely pfd Am. Creosoting’ pfd 91% ... Am. Central Life Beit. R. R com 56 00 Belt R. R. pfd 43 51 Century Bldg. Cos. pfd,.... 91 Citizens Gas Cos 23% Dodge Mfg. Cos., pfd 8.8 9,8 Home Brewing 54 64 Ind. Hotel com 60 ... Ind. Hotel pfd 93 Ind. Nat. Inn. C 0.... 3% ... Ind. Title Guar. Cos 47% fnd. Pipe Lines 79% 81% Indpls Abattoir pfd 40% 50 I Indpls. Gas 42 51 l Indpls. Tel. com 2 ... | Indpls. Tel. Cos. pfd 90 Mer. Pub. Util, pfd 41% 51 Nat. Motor Cor Cos 1% 3% I Pub. Savs ins. Cos 4% ... I Ranh Fertilizer pfd 40 Stand. Oil of Indiana 92 95 Sterling Fire ms. Cos 6% 7% I Van Camp lldw. pfd 90 101 Van Camp Prod. Ist pfd 101 Van Camp Prod. 2d pfd 101 Vandnlta Coal Cos. com 4 Vnndalia Coal Cos. pfd 5 Wabash Ry. com. 7 9 Wabash Ry. pfd. 20 22 BONDS. Broad Rlppia 5s 50 Citizens St. Ry. 5s 75 Indian Creek Coal A Mine 100 Ind. Coke A Gas 0s 90 indpls., C. A South. 5s 89 Indpls A Martlnsv. 5s 50% Indpls. Northern 5s 30% 4S Indpls N. W. 5a 50 55 Indpls. A 8. E. 5s 45 Indpls., S. A S E. 5s <W Indpls. St. Ry. 4s 49 52 Indpls. T. AT. 5s >’>7% 70 T. H., I. A E. 5s 40 V. T. of Ind. 0s 40% 52 Citizens Gas Cos, 5s 70 82 Indpls. Gas ss. J 73% 81 Kokomo, M. A W. 5s 77 82 Ind. Hotel Cos. 2d 0s 93 Indpls. I>. A 11. 5s 77 80 Indpls. Water Cos. 4%s 71 78 Indpls. Water Cos. 5s 90% 94 Mer. H. A I-. as 00 90 New Tel. Ist Os 91 New Tel. L. D. 5s 93% ... Sou. Ind. Power 5s 89% •Ex-dividend sl. LIBERTY BONDS. Liberty first 3%s 95.10 9.5 30 Liberty first 4%s 94.02 95.12 Liberty second 4%s 94.72 93.00 Liberty third 4%s 90.10 96.50 Liberty fourth 4%s 94.00 95.06 Victory .1% s 99.50 100.00 Victory 4%s 99.50 100.00 -SALES YESTERDAY—--52,000 Indianapolis Street Ry. 45... 49.00 SI,OOO Liberty fourth 4%s 94.76 I SI,OOO Lib' rty fourth 4%s 94.00 50 shares Indianapolis Street Ry... 30.00

Local Curb Market

(By Newton Todd) —Nov. 15— An;er. fiom'ny com 11 17 Central & Const Oil 94 1% Choate Oil Corp 94 1% Columbian Fire Ins, Cos 6 794 Comet Auto 1% 2% Dayton Rubber Units 68 76 Dictograph Prod, pfd 4(5 55 l). W. Griffith 794 9% Elgin Motor Car 3s, 5 Federal Fin. Cos. pfd 75 85 Fed. Fin. Cos. com 120 127 Gt. Sou. Prod. & Ref 5% 6 Hurst & Cos. pfd.. 32 52 Indiana Rural Credits .. 50 62 Metro 5-10 c Stores com 8% 11% Metro. 5-50 c Stores pfd.. .... 26 ’ 30 Revere Motors y* 94 Rauch & Lang Units....f 45 53 Itub-Tex Units 15 17% U. S. Automotive Units 75 85 U. S. Mtg. Cos. Units 150 ICO BANK STOCKS. Commercial Natl. Bank 71 81 Continental Natl. Bank 109 116 Indiana Trust Cos 175 190 Indiana Natl. Bank .....258 268 Merchants Natl. Bank ...... 2SO Natl. City Bank 105 110 Security Trust Cos 13T. State Savings & Trust ....... 90 04 Wash. Bank & Trust C 0.... ISO REBEL LEADER AGED 75. CALCUTTA, Nov. 15.—A1l Musallar, field leader of the Mopliah rebels, has been identified as a former religious teacher. Ha 75 years old.

GOOD SWINE TOUCH $7 MARK Cattle Trade Again Very Dull —Calves Steady to Lower. RANGE OF HOG PRICES. Nov. Mixed. Heavy. Light. Good Good Good 7. $7.90® 8.00 $7.75® 7.55 $3.15 8. 7.35 7.25® 7.25 7.35® 7.50 9. 7.35 7.25® 7.35 7.35® 7.40 10. 7.50 7.35® 7.50 7.75® 7.90 12. 7.25® 7.35 7.25 7.35® 7.50 14. 7.35 7.25® 7.35 7.50 15. 7.00® 7.10 7.00 7.10® 7.25 Swine prices touched new low levels again today in trade on the local live slock exchange, when declines of 25 to 35 cents were sustained. Local (wickers established the market, buying) the heavier gradea of swine, while shippers with Eastern /house connections followed the lead, buying the lighter grades of hogs. Declines were due principally to large receipts locally and lower tendencies elsewhere. Light swine sold generally at [email protected], while there were a few sales of that grade of swine at prices around the $7 mark. llaavies, mixed and mediums generally brought ST, while there were a few snlup of good mixed at $7.10. The bulk of the sales for the day were made at $7. Receipts for the day ran close to 10,000 and a lair clearance was anticipated. Trade in cattle was extremely dull and druggy and prices were barely steady to 25 cents lower generally, due to the poor quality, although there were a few good cattle on the market that brought steady prices. The peculiar trend that the market has taken recently cannot be exactly explained by commission men, although some of them ore of the opinion that the lower tendencies in swine prices have had some influence. Receipts for the day approximated 700 fresh cattle, while there was some stale stuff held in the pens from the market of the previous day. Calves were steady to 50c lower, with Eastern shippers paying only $11.50 for choice vea'-s, while a few small bunches of that grade of calves were bought by local concerns at sl2, which was the top. There were close to 500 calves on the market, 400 of the shippers bought. Sheep and lambs were steady, with receipts very light and the quality only fair. There were a few sales of good to choice ewe nnd wether lambs at $.8.25*) $.50, with the latter figure the top for the day’s trade. Receipts ran close to 200. HOGS. Best light hogs, 150 to 180 lbs, average $ 7.10® 7.25 Over 30 lbs o.oo{<i ; 7.60 100 to 300 lbs 0.904/ 7.25 Sows 5.50® 0.50 Best pigs, under 140 lbs 7.23® 7.50 Top 7.25 Bulk of sales 700 CATTLE. Prime cornfeil steers, 1,300 to 1,800 llis Loo® 8.50 Good to choice steers, 1,200 to 1,300 lbs 0.75® 7.00 Good to choice steers, 1,100 to 1,200 lbs C.so® 0.70 Good to choice steers 1.000 to 1.100 lbs 5.00® 0.00 Common to medium steers 800 .0 1,000 Ills 4.50® 5.00 Choice yearling styers sso® 9.75 —llclfer* and Cows— Good to choice heifers 6 50® 8.5d Medium heifers 5.00® 6.30 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® 2.00 Can tiers 75® 1.50 —Bulls— Good to choice butcher bulls. 3.75® 425 Bologna hulls 3 25® 3.00 Light bologna ’mils 2 75®, 8.2.1 Light to common bulls .... 2.00® 2.00 —Calves— Choice veals ?1t.00®12.00 Good vials M.so® 11.00 Medium veals 9.00® I<M O Lightweight veals 5.50® 7.00 Common heavyweight veals... 4.50. ® 0.0 —Stockers and Feeders— Good to choice steers, under 800 IDs $ 4.50®. 5.50 Medium cow* 2.00 K 3.00 Good nows 3.00® 4.(H1 Good heifers s.im® 7.*v> Medium to good heifers 4 00® 5.00 SHEEP AND LAMBS. Ewes 2.00® 3.00 Pucks 1.50® 2.01 Choice ewe's uud wether lambs S.Oo® 8.50 Seconds 6.50® 7.00 Buck lambs 5.00®, O.iO Culls 2.00® 3.00

Other Livestock

CHICAGO, Nov. 15. Hogs—Receipts, 15.01/I; market, active and iimstlv 10 cents lower; bulk of sales, 56.5. V-I O.Su; top, $7.15; heavies. $ 0.87; medi ans. $0.70 iff6.Bs; lights, #6.03'./6 85; light lights, $t>,754t7.23; heavy packing sows, smooth, $i'4(6.00: parkin.; sows, rough, $5.7.V>/.0.15; pigs, $7,254(7.911. Cattle- Receipts. 16.000: market, slow and 25 cents lower. Be> f steers—Choice and prluoj sß.2st>/. 11.50, mediums and good, $0 754t9.75; good to choice, sU4ill.on; coniim... and medium. $1,754/9. Butcher cattle—Heifers. $;;.:i54.' 3.75; c< ws. $3,254/6; bulls. s3('t [ 5.75. C.imiers and cutters -Cows and heifers. $2,254/3.25; canner steers, s34i t; veal calves, $64(9; feeder steers, $4.(55476 50: stoeker steers. $3.75476.25; stoeker cows aid heifers. *2.904(5. Sheep and lambs— Receipts, 18,000; market, steady to 25 rents higher; fat lambs, 15 to 25 cents higher: fat sheep, steady; feeders, strong: good to choice lambs. $8."54/9.40; cull and common lambs, $5,754(8.50; yearling wethers, $5.75447.75; good ewes. $2 75 4i4.75: cull and common ewes, $1,504./ 2.50: feeder lambs, $7.10<jj8.50. CLEVELAND, Nov. 15.—Hogs—Receipts, 2,500; market, Id to 25 ceuts lower; vorkers, $7.40; mixed. $7.40; mediums, $7.40; pigs, $7.75; roughs, $6.25; stags, $4.25. Cattle—Receipts, 200: market, slow, good to choice steers, $847,9; good to choice heifers. $34/0; good to choice cows. $44(5; fair to good cows, $34/4; common cows. $24/3; good to choice bulls, $4,504/5: milkers, $3547 75. Sheep and iambs—Receipts, 11,000; market, steady; top, $9.25. Calves —Receipts, 750; market, strong; top. sl2. EAST ST. LOUIS, 111., Nov. 15.—Hogs Receipts, 19.000; market, 2.54/30e lower; mixed and butchers, $6.tk)4i;7.10; good heavies, $0.0347,7.10; roughs, $4 75@0; lights, $74/7.2.3; pigs, $7.25(178; bulk of sales, $747.7.10. Cattle—Receipt*, 6,500; market steady; native beef steers. $847 8.75; yearling steers and heifers, SB4/9; cows. $3.23475; stockers and feeders, $3.23 47)5..V); calves, $1479.50: oanners and cutlers, $2,254/3. Sheep and lambs —Receipts, 3.000; market steady; mutton ewes. $7.75 @8.50; ennners and choppers, $1472. EAST BUFFALO, Nov. 14—Hogs—Receipts. 6,750; market solw; yorkers. $7.50 4/8; pigs. SB4/8.25; mixed. $7,254(7.50; heavies, $7.25; roughs, $6 476.25; stags. $44/5. Cattle—Receipts. 750; market slow; prime steers, $7.75478.50; shipping steers. $7.75478.50; butcher grades. $747 8.50; heifers, $5 254/.7.23; cows, $1.754/5; bulls, $34/5.50; feeders, $1.50475.50; milk cows, $1.75475; bulls. $34115.50; feeders. $4.50475.50; milk cows and springers. $lO4/135. Calves—Receipts, 725; market slow; etill to choice, $34712.50. Sheep and lambs —Receipts, 6.200; market active; choice lambs, $9.50479.75: cull to fair, $7479.25; yearlings, $4,504/0.50; sheep, $1.50474.73. FITSBURGH, Nov. 15.—Hogs—Receipts, 1,500; market, steady to strong; prime heavies, $747,7.25; mediums, $7.0047! 7.75; heavy yorkers. $7.50477.75; light yorkers, $7.73478; pigs, $7.7547:8: roughs, ss@o; stags, $44/4.5(1. Cattle—Receipts, light; market, steady: choice, $8.2547} 8.50; good. $7477.25: tidy butchers, $6.75 @7; fair, s3(g6; common, $4.50475; common to good fat bulls, $3.50475.23; common to good fat cows, s2@s; fresh cows and springers, $354/95; veal calves, sl2; heavy and thin calves. $5478. Sheep and lambs—Receipts, 500: market, steady; prime wethers, $4.75475: good mixed, $4 50474.75; fair mixed, $3.5047:4.23; culls and common, sl@2; choice lambs, $9.50. WHOLESALE BEEF PRICES. The following Is todays wholesale prices for beef cuts as sold by the Indianapolis markets of Swift &Cos Ribs —No 2. 2lc; No. 3,15 c. Chucks—No. 2, 10c; No. 3, Sc. Plates—No. 2,9 c; No. 3, 9c. Links—No. 2, 28 c: No. 3”, 24c. Rounds —No. 2. 15c: No. 3.12 c. TOLEDO SEED PRICES. TOLEDO, Nov. 15.—Cloverseed —Cash, $12.45; December, $12.55; January, $12.60; February, $12.65; March. $12.55. Alsike— Cash, $10.75: December, $10.90; February and March, $ll.OO. Timothy—Cash, $2.92%; December. $2.95; January, $2.07%; February. $3.02%; March, $3.10 bid.

WHEATVALUES SUFFER SLUMP Holders of Wheat Make Efforts to Liquidate. CHICAGO, Nov. 15.—Wheat prices slumped in the grain -market here today, due to market activities of large holders in efforts to liquidate. There was little buying power to absorb the profit-tak-ing. Reports of unsettled weather from the mid-winter wheat licit had little effect on tlie market. Other grains were irregular Provis'oijs vrere higher. December wheat opened at $1.05%, off %c. and closed off l%c. May wheat opened %c higher at $1.09% and later went 2%c lower. December corn opened off %c at 40%c nnd closed up %e. May corn opened at 52%c, off %c and later advanced %o. ’December oats opened unchanged at 32%c and closed off %c. May oats opened at 37%c, off %c and closed %e lower. * (By Thomson A McKinnon.) —Nov. 15—, Wheat- It is again necessary to refer to a pathetic attitude of tlie foreign buyer. New export business is reported ns lacking nnd it is also claimed that Japan lias been offering for resale on this question of foreign demand. We ask you to note that rye on tlie Chicago market is some 23 cents cheaper than wheat, and it would seem that, if foreigners were not well supplied, this grain, which is in favor in Europe, would not lie selling at tills great discount. Even if a foreign demand does develop, it will most assuredly take Manitoba wheat for tlie simple reason that it is selling at so much less than United States sorts. Taking into account the question of exchange, Winnipeg December is around 13 cents under the Chicago price. Broomhall says it is officially announced that Spain lias prohibited importation of wheat, except such cargoes as were under contract Nov. 8, or prior. The weatherman and forecast promise precipitation in the Southwest, \vhere it is badly needed. If this materializes, there will probably be increased offerings from the Southwest interior. Corn and Oats—There is a very brisk export demand for corn, resulting in a relatively better basis for bids from the seaboard. Tlie business is thought to be around 1.000.000 bushels. This situation, in conjunction with the light movement, may strengthen values temporarily, but ! inasmuch as tile crop and reserves furnish some 600,000,000 bushels above the ordinary requirements, it will be seen that an export business of 2,000,000 bushels daily during the entire year is necessary if tlie excess supplies are to be absorbed. Shippers speak of a slight improvement in tlie domestic demand for oats, but nothing of importance. Both of these markets are neglected. Provisions—There has been considerable selling of January lard, which appeared to be liquidation with the offerings going into hands of packing interests. Tlie market steadied toward the last, due to some firmness in the late hog market. Prospective movement of hogs does not favor important advances in product. CHICAGO CASH GRAIN. CHICAGO, Xov. 15.—Wheat—No. " northern spring. $1.04*1.10%. Corn—No. 2 mixed, 47%®MSc; No. 2 white, 48c; No. 2 yellow. 48®48%c; No. 3 mixed, 45c; No. 3 white, 40®47c; No. 3 yellow, 45%®40%c; No. 4 mixed. 41'jc; No. 4 white, 44%c; No. 4 yellow, 44%ft/’l3%<\ Oats No. 2 white, 35@36e; No- 3 white, 31%®33%c; No. 4 white, 25%@32e.i TOLEDO GRAIN PRICES. TOLEDO, Nov. 15. Wheat - Cash. $1.21; December. $1.19%; Mav, $1.23%. ('•tu Cash. 55®50c. Oats—Cash, 37® 59c. Rye—Cash. 70c. Barley—Cash, U3c. CHICAGO GRAIN TABLE. —Nov. 15— WHEAT— Open. High. Low. Close. *><■• 1.05% 1.05% 1.63 1.64% May.... 1.09% 1.09% 100% 1.07% Dec 46% .47 .40% .40% OATS— - 521 '* ' sl7s • 52, Dee 32% .32% .31% .31% FORK— * - :57S - 37 ’ 4 lS- 1,00 Jan 8 25 8.55 8.17 8.35 May.... 8.65 8.75 8.09 8.75 KIB.B—May.... 7.45 7.47 7.40 7.47 RYE—IV;c .79% .79% .74% .74% •Nominal. v PRIMARY MARKETS. (By Thomson A- McKinnon.) —Nov. 15— RECEIPTS. Wheat. Corn. Oats. st. Joe .... 5,000 14,’KKI Chicago 39.900 418.009 192,000 Milwaukee ... 3,(8*0 23,000 49.00) Minneapolis .. 309.000 31.00 > 81,090 Duluth 220.000 11,000 St. Louis .... 30,000 51,000 20.000 Detroit ....... 4.000 10,000 8,000 Kansas City . 111,000 9.000 3,000 Peoria 1,000 45,000 22.0!() Omaha 2.000 20.000 0,000 Indianapolis . 3,000 123,100 54,000 Total 919,000 700.000 439,001) Year ago 1,200 294,000 558,0A) SHIPMENTS. Wheat. Porn. Oats. St. .Toe 5,000 10,000 Chicago 35,000 080,000 98.00.) Milwaukee ... 1(6000 173,000 23,000 Minneapolis .. 118,t(K) 13,000 44,000 Duluth 288,000 3,000 St. Louis .... 82,000 48,000 32,000 Toledo 27,00) 1,000 2,000 Kansas City . 223,000 45,000 82,000 Peoria 2,000 28.(300 9,003 Omaha 24.0(H) 30.000 20.090 Indianapolis . 1,000 35,000 10,009 Totals 815,000 1,009,000 271.000 Year ago ... 913.000 207,000 439,000 CLEARANCES. Wheat. Porn. Oats. Now York . 447.000 33,000 Baltimore ... 79.000 New Orleans . 230,000 127,000 Totals 702,000 160,000 Year ago ... 578,000 103,000

INDIANAPOLIS CASH GRAIN. —Nov. 15Bids for car lots of grain and hay at I the call of the Indianapolis Board of Trade wore: Wheat—No sales. Corn —Steady; No. 2 white 494730 c; No. 3 white 45%4t40%e; No. 2 yellow. 4947 50c; No. 3 yellow, 45%@46%c; No. 2 mixed, 464747 c; No. 3 mixed, 444745 c. Oats —Easier: No. 2 white, 364/36%c; No. 3 white, 344734 %c. Hay—Steady; No. 1 timothy, [email protected]; No. 2 timothy, $16.504717; No. 1 light clover mixed, [email protected]; No. 1 clover, $194720. —lnspections. Wheat—Sample, 2 ears. Corn —No. 1 white, 8 cars; No. 3 white, 12 cars; No. 4 white, 20 cars; No. 5 white, 9 cars; No. 6 white, 2 cars; No. 1 yellow, 5 cars; No. 2 yellow, 3 cars; No. 4 yellow. 4 ears; No. 5 yellow, 5 ears; No. 6 yellow, 2 ears; No. 3 mixed, 2 cars; No. 4 mixed, 3 cars; No. 5 mixed, 1 car; total, 76 cars. Oats—No. 2 white, 2 ears; No. 3 white. 7 cars; No. 4 white, 2 ears; total, 11 cars. HAY MAR KET. The following are the Indianapolis prices for hay by the wagon load, delivered: Hay—Loose timothy, $10@17; mixed may, $154716; ba’ed hay. $164717. Oats—Bushel, new, per bushel, 32@35c. Com—Old, per bushel, 55<g60e. WAGON WHEAT PRICES. Indianapolis flour mills and elevators today are paying $1.07 for No. 1 red winter wheat; $1.05 for No. 2 red winter wheat and according to test for No. 3. Oats are quoted at 25c fei No. 3 white or better. INDIANAPOLIS PRODUCE. Battler Local dealers are staying 44@ 42c per lb. for butter delivered in Indianapolis. Eggs—Loss off 54@55c. Butter—Parking stock. 19@20e. Poultry—Fowls, 17@ 23c; springs, 18@19c; cocks, ll@12c; stags, 12<g!13e; young hen turkeys, 8 lbs. and up, 35c; young tom turkeys, 12 lbs. and up, 35c; old tom turkeys, 30c; cull thin turkeys not wanted: ducks, 4 lbs. and up 224724 c; spring ducks, 3 lbs. and up, 2(>4§22e; geese, 10 lbs. and up. 18c, rabbits, drawn, per dozen, $5; squabs, 11 lbs. to dozen, $o; young guineas, 2 lbs. size, per doz.. $9; old guineas, per doz., $5. Rulferfat —Local dealers are paying 40 @4le per pound for all butterfat delivered in Indianapolis. V

Wins $12,000 Office

—— r— ■— I— J ' : : :-:< ; .■..v.-v-<>x^^%^&3X>Sii 6 - <*

—Copyright by Underwood & Underwood. Miss Annie Mathews, the first woman ever to be elected in New Y'ork City to a sl2 ,00S office. Miss Mathews was elected register of New York County for a fouryear term. ,

GERMANY CAN’T MEET PAYMENT OF GOLD MARKS Allies Said to Have Been Unofficially Notified of Nation's Decision. BERLIN, Nov. 15— By Radio).—Germany has unofficially notified the allies that she cannot pay the next reparations Installment of 300,050,000 gold marks due by Jan. 15, 1922. The information was received today from the highest authority that the government has conveyed through unofficial channels to the allies the information that she is "at the end of her rope.’’ All protests by the allies hereafter about Germany’s failure to meet the reparation payments due will lie met by the statement "try to get it.” Germany's attitude, it was made plain, is not one of defiance, bn t of utter despair. The allied commission here, it is learned, i3 convinced of Germany's ability to pay. The experts attached to this commission again are going over the situation. The German government. 1t can be stated, has determined to stand or fall on tlie decision that there mu3t be a revision of the terms of the Versailles treaty. There Is Increasing evidence that Germany, after weighing all the consequences, lias decided to face even the bitterest penalty^namely, an invasion of the Ruhr district by the French. German bankers are almost unanimously of the opinion that an economic world conference will follow the Washington armament sessions. GIANT DIRIGIBLE MEETS U. S. TESTS NEWPORT NEWS. Va., Nov. 15—The Roma, largest semi-rigid dirigible in the world, made a successful tost flight today from its hangar at Langley Field, Va. The giant airship, purchased from Italy for $2,000,000, remained in tlie air for three hours. It passed all tests successfully. The Roma will be used in the coast de- j sense service. Committee in Favor of 23 New Judgships WASHINGTON, Nov. 13.—The House Judiciary Committee this afternoon reported favorably the Walsh hill, providing for the creation of twenty-three new i Federal judgeships.

College Nine Coining Back From Long Trip , Nov. 15.—University of M achington s baseball team, after a tour of Japan and Munchnria. will sail from a ukohama for home Dec. 2, according to word received here. Returns from the first nine gam-s gave the local collecia is seven victories against Japanese college nines. / * WHOLESALE FEED PRICES.

. „ Ton. Cwt. Acme Bran $21.00 sl.lO Acme Feed 21.00 110 Acme Mids 21.00 110 Acme Dairy Feed 40.00 205 Acme 11. A- M 27.00 140 E Z Dairy Feed 29.00 l’no ' Acme Stock Feed 22.00 1 15 I Acme Farm Feed 20.75 i'4n i Cracked Corn 25 50 1 30 j Acme Chick Feed 35.00 l'vo \ Acme Scratch 31.00 LOO FJ-Z Scratch 28.50 1 45 Acme Dry Mash 38.25 1 95 ■ Acme Hog Feed 3;L25 1 70 Ground Barley 34.75 l’no Ground Oats 28.75 j’gp j Hotnlick 23.25 120 Rolled Barley 34;75 j'g n Alfalfa Mol 30.50 I*6o Cottonseed 50.00 2.60 i Chick Mash 40 75 2 10> Tankage 52.50 3 00 ! Meat Scraps 7500 4.00 | FLOUR AND MEAL. E Z-Bnke bakers’ flour in 98-lb. cotton bags $7.30 < Cornmeal in 100-lb. cotton bags 1.45 i 5.000 YULES WITHOUT MOTHER. LIVERPOOL, Nov. 15. —Four American children, aged 9,7, 5 and 2, have sailed to join their father, John Lloyd, in Utah. Their mother brought them here for a visit, but died shortly after their arrival. MASONS GET HAIG’S SWORD. LONDON, Nov. 15.—Earl Haig has presented to the Masonic Lodge at Windygates, Fife, the sword which he carried ! during the greater part of the war. i

Money to Loan on Mortgages STATE LIFE INSURANCE CO. I BUY GREAT SOUTHERN PRODUC- NEWTON AND ING & REFINING STOCK ZTJ? SELL 415 LEMOKS BID j. TODD

U. S. EXPERTS TO FIGHT FOR SUBMARINES Necessary for Protection of U. S. Outposts Is Contention Advanced. NEEDED FOR DEFENSE Nov. 15. —American naval experts are preparing to loose their sixteen-inch guns upon any proposal from Great Britain for further limitation of submarine tonnage. They are ready to offer united opposition to the suggestion of a curtailment of underseas strength to be proposed by Great Britain as an amendment to the Hughes’ plan for the limitation of naval armament. Whether this objection will cause discord in the harmony which thus far has marked the proceedings of the conference rests entirely with President Harding and Jlr. Hughes, but there is no mistaking the feelings of American naval men on the subject. Are the American outposts in the Pacific to be left absolutely unguarded, these experts are demandif®. The United Staten, with unprecedented liberality, has offered to stir up a considerable portion of her capital ships, assuming in making such a sacrifice that she would be allowed at least some defensive weapons for safeguarding her island possessions in Far Eastern waters. SUBMARINE DEFENSIVE ARM. The submarine, it was pointed out, strategically is a defensive arm. For years the general board of the Navy Department, the general staff of naval warfare and the court of last appeal in matters pertaining to naval strategy, has contended that the Island of Guam i.nd the Philippines should be made 6ub- 1 marine bases of the first order. Since the United States was not to have the surface fleet twice the size of that of Japan, which was deemed 'accessary to offset the handicap of distance between San Francisco and Mafila, it was insisted that any adequate plan of national defense must include some means of holding our island possessions until the main fleet should arrive The original Hughes proposal tcok this argument into consideration. It placed the hormal submarine tonnage af the United States and Great Britain at 90,000, which was somewhat in excess of our actual commissioned tonnage of elective underwater craft. Under the Hughes plan the rath) of 3 to 5, set up between the United States and Great Britain on the one hanl and Japan on the other, is maintained with regard to submarines. The latest ligures regarding present submarine strength, as compiled by the American nav(\l intelligence service, follow: Great Britain— Type. No. Tons. First line submarines 63 69,197 Second line submarines 59 23,743 Fleet submarines first line.. 14 j'J1.320 Second line 6 7,200 Cruiser submarines 1 2.014 Monitor submarines 3 4,800 Total 146 113,724 United States— Type. No. Tons. First line subs 57 3i,G41 Second line subs 44 16.735 Fleet subs first line 3 3,31S Total 104 04,694 Japan— Type. No. Tens. First line subs 15 11,500 Second line subs 3 1,059 Total 18 12,350 While Great Britain ostensibly has a superiority in both numbers of craft and tonnage, the United States is said (o hold the stronger position in actual fight'ng efficiency. The British admiralty apparently looks with disfavor upon the submarine, and granted a free hand, would abolish 'he subsurface fighting craft altogether. It is plainly understood, however, that such a policy is not at all likely to be openly proposed. The Hr'tish delegates are pTepared to contend that in actual efficient tonnage they are much below the 90,000-ton mark set by the United States, and they will do everything in their power to bring about a reduction in that limitation.

LLOYD GEORGE MAY NOT VISIT U. S. CAPITAL Irish Problem Still Holds Attention of British Premier.

I LONDON, Nov. 15.—The outcome of ; the unionist convention at Liverpool ; Wednesday and Thursday will settle the ! question of whether Premier Lloyd i George will go to Washington to attend j the armament conference, it was officially stated today. If t]se unionist convention supports the stand taken by Sir James Craig, Ulster | premier, and his cabinet, a general election will be called and Lloyd George will go to Washington. The British premier has not yet received complete reports from the delegation at Washington, but it was ani nounced that the British representatives I at the American capital have plenipotenj tiary*status and whatever action they | take will receive the support of the cab- ! inet. | Lloyd George conferred with Lord Middleton and six other southern union- , ists who are opposed to partition of Irei land. Sinn Fein leaders have returned to London ami it is possible they may meet the premier late today. "BLUE LAWS” REVOKED. FULHAM, England, Nov. 16.—The Works and Highways Committee has revoked the laws forbidding Sunday games. The municipal authorities are going to construct public tennis courts and bowling greens. GERMAN CHAMPION ROBBED. BERLIN, Nov. 15.—While the crowd was cheering Germany's heavyweight boxing champion, Breitenstraeter, at a wrestling match, a pickpocket robbed him of note* and papers worth 45,000 marks. WOOL DKOPS SCO PER CENT. LONDON, Nov. 15.—More than 50,000 wool fleeces have been sold at Oswestry market at prices 300 per cent below last year’s.