Indianapolis Times, Volume 34, Number 171, Indianapolis, Marion County, 28 November 1921 — Page 11

MARKETPROVES PUZZLE ON SIDE OF SPECULATION Surplus of Funds Explains Ready Buying of Stable Investments. FUTURE TURN QUESTION Special to Indiana Dally Times and Philadelphia Public Ledger. By MONITOR. NEW YOKK, Nov. 28.—As the week closes it is admitted by the majority of the speculative fraternity that any consideration of the market for the last few days must start with an interrogation and end with a question mark. Put in the form of concrete inquiry the propositions might be stated as follows: What has happened and what is going to happen ? In some respects the market has confounded the prophets. Predicted reactions failed to materialize and strength has made its appearance in unexpected quarters. Even the rails, neglected because of the discouragement resulting from the fading prospects of the funding bill, the remote promise of a reduction in wages that would tend to increase traffic, have broken out of their rut with an outburst of old-time buoyancy. Meantime certain specialties have soared; oils and coppers have stiffened after their relaxation from profit taking; and the whole market has been brightened up by a spirit of confidence. EXPLANATION NOT VALID. The strength of the technical position is not a valid explanation. After an advance of more than seven weeks one ceases to emphasize that sold out and oversold condition of the market, and begins to talk of reactions in order to correct an unhealthy speculative condition. Nor does the improving economic outlook furnish the clew to the secret. Trade and industrial reports are better, but they are still far from brilliant. Inevitably we come back to the growing ease and abundance of money. Not only is all fear of a financial collapse behind ns, but weekly we are reminded of our growing strength by the rising ratio of the Federal reserve banks, which now stands at the record figure of 72.3, compared with 44.4 per cent for the corresponding week last year. It is more than confidence in financial stability that is responsible for such movements as the stock market has witnessed in the last week. It is plethora of money. It is an abundance for investment that has overflowed after cleaning up the market in gilt edge bonds, after absorbing new issues at a surprising rate, and after depleting the supply of unimpeachable preferred stocks. Plentitude of funds and effort* to obtain a safe and attractive yield have been responsible for the buying that has made its appearance this week in such standard issues as Reading, Atchison. Southern Pacific, Union Pacific. Norfolk & Western and stocks of similar standing. It was quite natural that the rise in the standard rails should attract buying to certain issues that are expected soon to reflect the improved position of certain companies. When the rails advance the movement is not confined entirely to the seasoned dividend payers. Hope and gossip play their rart in the case of less favored stocks. There has been also quite a searching out of desirable specialties—stocks with an assured dividend based on stable earning power. This accounts for the strength in the Standard Oil stocks, General Electric and Otis Elevator. It begins to look, therefore, as if the market was completing the investment phase and entering the zone of speculation. The action of quite a number of stocks in the oils, copper, equipment and steel groups, as well as several specialties. are beginning to reflect prospects of a hopeful character rather than stable assurances.

WHAT MAY HAPPEN STILL A QUESTION. Although this brief discussion may explain what has happened, it does not cast much light on what is going to happen. Frequently in the past, as, for instance, after the depressions of 1903 anl 1008-09. the abundance of money due to stagnation in business produced it3 repercussions first in investment demand, then in moderate speculation, and this influx of funds provided resources for business revival. In the periods mentioned, however, the case was somewhat different from the one existing at present. Commodities were low. and wages were low; production costs were at a minimum. There was no maladjustment remaining to bo corrected between various producing groups. Europe had huge buying power, and in fact was our creditor instead of being a debtor as at present. Only the future can nnswer the question as to whether the current Investment and nas'-ient speculative demand will exhaust itself, ov whether it will put new life blood Into business and thus perform one of its most valuable functions. There are many who believe that history will repeat itself, particularly un ier the stimulus of constructive action by the Congress for the limitation of armaments.—Copyright, 1921, by Tublic Ledger Company!

In the Cotton Market

NEW YORK, Nov. JS.—The cotton market opened easy today at net declines of 17 to 30 points, influenced by weak cables, selling by Japanese and Southern interests and pressure from local longs. Wall street was the best buyer. After the opening, the list became irregular, advancing about 10 points, from which it again reacted. Fears of labor troubles in the New England mills cheeked outside buying. New York opening cotton prices. December, 17.35 e: January, 17.23 c; March, 17252 c; May, 17.10 c; July, 10.54 c. The market showed a better tone in the late afternoon. The close was firm at a net advance of S@2s points. —Cotton Futures— Open. High. Low. Close. January 17.25 17.70 17.11 17.05 March 17.22 17.02 17.0s 17.00 May 17.10 17.00 10>3 17.32 ./illy 10*4 10.03 10.33 16.85 October 15 58 15.05 15.50 15.05 Dx-ember 1 7 .3S 17.00 17.28 17.00 —Cotton Futures— NEW YORK, Nov. 28.—Weakness in the Liverpool oitton market continued throughout their session, that market dosing at a os.s of 51 to 80 points. In our own market, liquidation was rather heavy during the first hour, but after a break of about $2 a bale, a fairly ; <od demand developed, both from locals shorts and trade interests. Thereafter, the market displayed a degree <—‘ stability move in U-rmony with other public markets. There is no cal reason at this time for materially lower prices, as supplies >i good cotton are not abundant and there is a chance that the acreage this coming year may be kept down to this year's figures, which would leave the trade in a rather unpleasant position this coming year. . We are of the opinion that the opportunities are on the long 6ide. LIVERPOOL.. Nov. 28.—Spot cotton was quiet in opening trade here today. Prices were easier and sales close to 8,000 bales. American middling fair 13.17d; good middlings. 11.77d: full middlings, 11.37d; middlings. 10.07d : low middlings. 9.67d ; good ordinary. 7.92d; ordinary, 7.17 U. Futures opened easy. FLOUR AND MEAL. E-Z-Bake bakers' flour in 9S-lb. cotton bags, $7.80. Corn Meal In 100-lb. cotton bags, $1.55.

N. Y. Stock Exchange

(By Thomson &. McKinnon.) (By Thomson A McKinnon.) —Nov. 28. Prev. High Low Close Close Allied Chem 54% 53)4 53% 04% Ajax Rubber .18 17% 17% 17% Allis-Chalmers.. 36% 36% 8G;„ 36% Am. Agri 33 32 % 32% 38% Am. Beet Sug... 29% 20% 20% 20% Am. Bosch Mag. 34 34 34 Am. Car Fdy....143 142 143% 142 Am. Can 33 31% 32% 31% Am. H. &L. co..i 13% 11% 13 Am. H. it L. pfd 50% 50% 58% 56% Am. Ice 74 74 74 75 Am. Int. Corp... 40% 38% 30 38% Am. Linseed ... 33% 32% 82% 34 Am. Loco 06 05% 03% 05 Am. Smelt. A Ref 42% 41% 41% 41% Am. Sug. Ref... 56% 55 56 56% Am. Sum. T. Cos. 33 32 32 32% Am. S. Foundry 32 31% 81% 31% Am. Tel. & T. 117% 110% 110% 110% Am. Tobacco.. 120% 127'% 120% 120 Am. Woolen... 82% 80% 82% 80% Atlantic ret... 21% 21% 21% 22% Anaconda M. C. 40% 45% 45% 43% Atchison 80% 80 80% 88% At. Gulf &W.I. 32 31% 31% 32% Baldwin Loco.. 08% 06% 07% 07V* B. &O. ........ 38V* 87% 38% 37% Beth. Steel (B) 50% 53% 50% 0% Cal. Pete 44% 43% 43% 45% Can. Pae. Ry.. 120%, 110% 120% 110% Central Leather 32% 31% 31% 32 Chandler Mot.. 40% 45% 40% 40% C. Ac 0 60 50% 50% 59% C, M A St. Paul 24 23% 23% 23% C. MSz S P pfd 38% 37% 37% 30 Chi. A: North... 70% 70 70 70 C, Rock I A Pac 34% 38% 34 33% C RlAc P Opct p 70% 74% 70 78% CRIAc I* 7pct p 87% 86 87 86 Chili Coper .... 13 12% 12% 12% Chino Copper.. 27% 20%. 20% 27% Coca Cola 37% 37% 37% 38 Col. F. Ac Iron 24% 24% 24% 24% Columbia Gas.. 64% 03% 03% 04% Columbia Graph 4 3% 3% 3% Consolidated G. 95 93% 98% 91% Continental Can 48% 48% 49 Cosden Oil 38% 38% 33% 34 Corn Products. 00% 88 80 88 Crucible Steel.. 60 05 65 63 Cuban A. Sugar 14% 14% 14% 15 Cuban Cane S.. 8 7% 7% 8% Dela Ac Hudson 110% 110% 110% 110 Deia. & Lack.. .112% 112 112 112% Erie ..N 12% 11% 11% 12% Erie Ist pfd 18% 18 IS ls% Famous Players 70% 00% 69% 09% Fisk Rubber... 10% 9% ;t% ]< General Asphalt 65% 08% 65 04% Gulf Sts. Steel. 50% 48 48% 50% Gen. Electric...l37% 130% 130% 157% General Motors. 11% 11 11 11% Goodrich 31 31 31 Gt. North, pfd. 77% 76 76% 75% *Ut. North. Ore. 33 32% 32% 35% Houston 0i1.... 80 78% 78% 78% Haskell-Barker. 81% 70% 81 79% Illinois Central. 00% 98 99% 98 Inspir. Copper. 38% 37% 38 37% Inviuc. Oil 12% 11% 12% 11% Indiahoma 4 3% 3% 4 Inter. Harvester 79% 77% 77% 78% Internatl. Nickel 12% 11% 12 12% Inter Paper 56% 55 55% 50% IsL Oil Ac Trans 3% 33% 3% K. C. Southern. 25', 24% 24% 24% Kelly-Spg. Tire. 41% 40% 41% 41' Kennecott Cop.. 25% 24% 24% 24% Lacka Steel.... 43% 42% 40% 42% I.ehigh Valley.. 57 50% 56% 57 Lee Tire 28 27% 28 28 Loews, Inc 11% 14% 14% 14% Loft Candy.... 10 9% it/ io' L. Ac N 112 110 112 Marine C0m..*... 12% 12% 12% 12% Marine pfd 56% 55% 56% 55% May Stores 91 90% ! IK) Mont.-Ward ... 15% 14% 14% 15% Maryland 0i1... 28% 28% 28% 28% Mexican Petrol.llo% 114% 115 115% Miami Copper.. 25% 23% 25% 25% Midle St. 0i1... 13% 15' 15 15% Midvale Steel... 25 24% 24% 25 K. & T 2% 2% 2% 1% Missouri Pac... 19% 10% 19% 10% Mis. I’ac. pfd.. 40 47% 47% 48% National Lead.. 81 81 81 Nov. Con. Cop.. 14% 15 14 14% N. Y. Air Brake. 60 He 64) 58 X. Y. Central.. 75 74% 74% 74 New Haven .... 13% 12% 12% 13% X. & W 99% 00 90 % 09 North. Pac 52% 80% 81% BU% Pac. Oil 45% 44% 44% 45% Pure Oil 30% 35% 36 30% Pan.-Am. Pet. . 52% 51% 52 52 Penna. Ry 35 34 % 34% 34% People's Gas... 58% 57 57 58 Pierce-Arrow .. I*% 1.3% 11% 13% Pierce Oil C 0... 13% 13V* 13% 13% Pitts. Coal. 59 50 50 50% P’r'sd Steel Car 67% 65% 60% 05 Pullman Car... 11l 100 109% 100 Ry Stl. Springs 94% 91% 934* Ray Copper .. 140* 14% 14% 14% Reading 73% 72% 73% 73% Rep. Iron & SM. 51 50% 50% 50% Iteplogie Steel.. 22% 22% 22% ..... Royal Dutch NY 46% 45% 45% 40% Sears-Roebuck . 65% 00% 00% 64% Sinclair 23% 23 I 23 23% Southern Ry. . 20% 20 20 % 20% Bout hern Pac. . 82% 81 82% 81% St. L&S WR. 23% 23 23 23% Stand Oil X. .1.174% 173% 174 175 St. L& S F Cos. 24 22% 23% 23% Strom. Curb. .. 31% 31 51% 51 Stude'oaker .... 77% 75% 77% 75% Texas Coal Ac O. 50 29 1 -. 20'% 30% Texas Cos 46% 45% 45% 40% Texas A: Pac. .. 25% 24% 24% 25% Tobacco Prod. . 60% 59% 59% 00 Trans, nil l<t 9% 10 10 t'nion Oil 21% 20% 20% 21 Union Pacific... 151% 129% 151% 129% Unt. Ret. tSores 53 51% 52% 53 U. S. F. P. Cor. 11% 11% 11% 12 Unt. Fruit C0..123% 122 122% 122% United Drug... 72% 72% 72'. 72% U S. In. Alcoh. 4o 39% 39% 45 U. s. Rubber... 49% - 59 49% 49-% I*. S. Steel 84% 83% 84% . 83% U. S. Steel pfd.. 112% 1125s 112% 112% Utah Copper.... 60 58% 58% 58% Vanadium Steel 32% 30% 30% 32% Vtr-Car. Chem. 52 31 31 32% Will). Ist pfd... 23% 22% 22% 23 West Pacific.... 20V, 20% 20% 20% West. Electric.. 49% 47% 48 48% White Motors... 38% 38% .38% 38% Wilys Overland 5% 4% 5% 5% Worth. Pump.. 44 45% 43% Wool worth 123% 123% 123% Wisconsin Cent.. 29% 28 29 % 27

NEW YORK LIBERTY BONDS. —Nov. 28— Prev. High. T.ow. Close, close. L. B. 3%S 00.28 Ot>.o(J OO Ofi pc, 24 L. P. Ist 4s 00.00 0018 L It. 2d 4s 05.88 05.70 L. It. Ist 4%5... 07.00 05 00 07.0 1 00.18 L. It. 2d 4'i.s 00.14 05.02 00.14 05.08 I, It. 3d 4',s 'l7 40 07.10 07.34 07.22 I, R. 4th 4 1 15.08.50 00.20 08.50 00.38 Victory 3%s 100.00 00.08 00.08 00 08 Victory 4%s 100.00 00.06 100.00 09.08 CHICAGO STOCKS. (By Thomson A McKinnon.) —Nov. 28— Open. High. Low. Close. Armour pfd 04 Vi Armour Leather .. 12% Carbide A Carbon. 46 47*4 46 47% Libbv 6% 6% 6% 6% Mont.-Ward 15% 15% 14% 14% National Leather.. 2% 32% 2% Piggly Wiggly ... 19% in% in% 10% Soars-Roebuck .... 62% 62% 60% 60% Stewart-Warner .. 23% 24 23% 24 Siwft ACo 00'i 00% 00% 99% Swift International 21% 21% 21 21 INDIANAPOLIS PRODUCE. Butter—Local dealers are paving 41(g 42c per lb for butter delivered in Indianapolis. Eggs—Loss off, 51ffi55<. Butter—Parking stock. 194j20c. Poultry—Fowls, lfltfj 22c: springs, 16@lSc; cocks, 11 @120; stags, 12(g;13c: young hen turkeys, 8 lbs. and up, 33c; young tom turkeys, 12 lbs. and up. 33c; old tom turkeys, 28c; cull thin turkeys not wanted; ducks, 4 lbs and up, 20@21c; spring ducks, 3 l!is. ami up, 17c; geese, 10 lbs. and up, 15c; rabbits, drawn, per dozen, s2(q 3; squabs. 11 lbs to dozen. $5; young guineas, 2-lb. suze, per dozen, (7@S; old guineas, per dozen, s3@s. Butterfat —Local dealers are paying 40c per pound for all butterfat delivered in Indianapolis. CHICAGO PRODUCE. CHICAGO, Nov. 28.—Butter —Receipts, 8 500 tubs; creamery extras, 45c; tir.s.s, 44c; packing stock, 23@24c. Eggs—Receipts, 2.2> 5 ca-es; cut rent receipts, 504/ 52c, ordinary firsts. 434/ 47c; firsts. 504/ 53c, checks. 26@ L’S'*; dirCes, 2 s f>/30. Cheese -Twins, new, 194|19%c; daisies. 18%4J In’,c : young Americas. l!l%c; Longhorns 19%o; brick, 19 %c. Live poultry—Turkeys, 3(8-: chickens, 18c; springs. 21c: roosters, 15c: geese, 22c; ducks. 23c. Potatoes— Receipts, sixt.v-one cars; Wisconsins. $1.60411.75 per bag; Minnesota and Michigan Round Whites. Sl.r.O'u 1.7 o; North Dakota Red Rivers. [email protected]<>. WHOLESALE BEEF PRICES. Tha following are today's wholesale prices for beef cuts as sold by the Indianapolis markets of Swift & Cos.: Ribs—No. 2,18 c; No. 3,14 e. Chucks— No. 2,9 c; No. 3, Bc. Plates—No. 2,9 c; No. 3. Bc. Loins—No. 2,28 c", No. 8,22 c. Rounds—No. 2,15 c; No, S, 12c.

STOCK MARKET CLOSES STRONG Some Issues Suffer Recessions From Da/s High Levels. NEW YORK. Nov. 28.—The stock market closed strong today, although there were some recessions from high levels. Baldwin, after dropping from 95% to 97, recovered to 97%. Crucible Steel was 1 noint below the high at 65 and Corn Products reacted over 1 point to 89. Studebaker became active and strong, moTing up over 2 points to 77 and chandler rose 1 point, to 40%. General Asphalt recovered 1 point to 65. American Woolen moved up 1 point to 82%. Some of the railroads receded from their high levels, Missouri Pacific reacting from 49% to 47%. Government bonds were unchanged and railway and other bonds strong. Total sales o fstoeks were 802,500 shares; total bonds sales, 20,240,000. (By Thomson & McKinnon.) —Nov. 28— The decline today in Scars Roebuck and a few specialties stood out in strong contrast to the general market, which was strong and broad and gaining In popularity and the favorable action of the market was particularly significant because of numerous unfavorable items appearing in the foreign news, which, by the way, is not to be ignored as either one or all may develop as disturbing elements. We have the reported popular demonstrations in Italy against France, Undiplomatic breach between France end England and some banking embarrassments because of the shrinkage in the value of the German mark. The latter, howevey. may be the result of ill-advised speculation and docs not. necessarily possess any significance from a world financial standpoint. The most encouraging element in our market has been the material appreciation that has recently accurred in railroad issues. From a national standpoint, the railroad occupies the place of prominence, being enormous consumers of a multiplicity of American products. There is hardly a branch of an industry that does not benefit directly or indirectly from the patronage of the railroad companies. Therefore, every little Improvement in their business anil ever; advance in the value of the railroad security increases the credit of the railroad company, which in turn increases their purchasing power and here begins that endless chain of buying, manufacturing, transporting and so on until millions of workers, producers and manufacturers all participate in a prosperous state of business. Then, we have that case in our bankin gsituation, which also contributes materially toward business expansion and the automatic advance in' the value of securities to meet the decreasing value of money. Taking a broad view of nfalrs, it looks like a continuation of a rising market, subject to an occasional reaction, which would not be out of order at the present time.

TWENTY STOCKS AVERAGE. NEW YOKK. Nov. 28. —Twenty industrial stocks last Saturday averaged 75.05. up .54 per cent. Twenty active rails averaged 75.00, up .43 per cent. CLEARING 1101 SE STATEMENT. NEW YORK. Nov. 28.—Exchanges. $372,000,000; balances, $51,000,000: Federal Reserve Bank credit balances, $49,000,000. Money and Exchange Indianapolis bank -clearings Monda, were $2,003,0.0. NEW YORK, Nov. 28.—The foreign exchange market opened steady today with demand sterling %c higher at $3.99%. Francs rose 3 centimes to C.98%e for cables and 0.97%c for checks. Lire cables were 4.05%c; checks, 4.07%. Belgian cables were 6.Cscf checks, 0.61. Marks were 1 point up at ,0036 c. Guilder cables were 35.50 c; chocks, 35.48 c. Swedish kronen cables were 23.55 c; checks, 23.5t)c. NEW YORK CALL MONEY. NEW YORK. Nov. 28/—Money—Call money ruled 5 per cent; high, 5 per cent: low. 4% per cent. Time rates, quiet; ail 5® 5% per cent. Time mercantile paper quiet. Sterling exchange was quiet, with business in bankers' bills at $3.08% for demand. MOTOR SECURITIES. (By Thomson & McKinnon.) —Nov. 28— —Closing— Eid. Ask. Earl Motors 0% Hi Packard com 6% 7% Packard pfdl CS 73 Peerless 3s % 40 Continental Motors pfd 83 87 Hupp com 10% 11% Hupp pfd 02 98 Keo Motor Car 10% 20 Elgin Motors 4 4% Grant Motors 1% 1% Ford of Canada 214 248 international Motor com 27 National Motors 1% 3 Federal Truck 14 10 Paige Motors 13 15 Republic Truck 7% ACTIVE OIL STOCKS. (By Thomson & McKinnon.) —N ov. 2S——Opening— Bid. Ask. Anglo-American Oil 18% 10% Atlantic Lobos 10 10% Borne-Scrymser 320 340 Buckeye Pipe Line 84 87 Chesebrough Mfg. Cons ISO 195 Continental Oil, C010rad0...122 128 Cosden Oil and Gas 6% 7% Crescent Pipe Line 30 32 Cumberland Pipe Line 145 155 Elk Basin Pete 7% 7% Eureka Pipe Line 5 ... 84 S7 Galena-Signal Oil, pref 100 105, Galena-Signal Oil com 45 40 Illinois Pipe Line 171 175 Indiana Pipe Line 84 87 Merritt Oil 10% 10% Midwest Oil 2% 3 Midwest llfg 170 180 National Transit 20 30 New Y'ork Transit 147 152 Northern Pipe Line 95 99 Ohio Oil 288 295 Oklahoma P. Ac R 3% 3 I’enn.-Mex 22 20 I'rairie Oil and Gas 575 585 Prairie Pipe Line 237 249 Sapnlpa Ucfg 4 4% Solar Refining 300 380 Southern Pipe Line S8 SIS South Penn. Oil 250 255 Southwest Penn. Pipe Lines. 57 00 Standard Oil Cos. of 1m1...... SB% 88% Standard Oil Cos. of Kan 575 500 Standard Oil Cos. of Ky 535 545 Standard Oil Cos. of Neb 170 ISO Standard Oil Cos. of N. Y.... 357 502 Standard Oil Cos. of 0hi0....400 410 Swan A: Finch 40 50 Vacuum Oil 330 335 Washington Oil 35 40

NEW YORK CURB MARKET. (By Thomson A- McKinnon.) —Nov. 28— —ClosingBid. Ask. 'cine Packing 80 85 Curtis Aero, coin 1% 2 Curtis Aero, pfd IS .... Goldfield Con 4 6 Jumbo Extension 4 7 Imperial Oil (Del.) 10% 10% International Petroleum 15% 16 Nipissiug (i% 6% S.andnrd Motors 4-8. 5 Salt Creek 13% 13% Tonnpah Extension 1% 1% Tonopnh .Mining 1% 1% FnPed P. S. new 1% 2 F. S. Light and Heat 1% 1 7-16 C. S. Light and Heat pfd 1% 1% Wright-Mart in 2 3 Yukon Gold Mine Cos 1 1% Jerome 25 26 New Cornelia 18 17 United Verde 2(1% 27% Sequoyah .*. 6 10 Omar Oil 85 90 Rep. Tire 15 20 TOLEDO SEED PRICES. TOLEDO. Nov. 28. —-Cloverseed—Cash, $12215; December. $12.30. bill; January, $12.35. bid ; February, $12.40, bid ; March, $12.30, bid. Alslke —Cash. $10.70; December. $10.75; February, $10.90.; March, $10.95. Timothy—Cash, $3.00; December, $3.90, bid; January. $3.02% bid; February $3.07%, bid; March, $3.12%, bid.

INDIANA DAILY TIMES, MONDAY, NOVEMBER 28,1921.

New York Bonds

(By Fletcher American Cos.) FOREIGN GOVERNMENT BONDS. —Nov. 28Bid. Ask. Arg. (unlisted) ss, Sept. 1, '45. 72 74 Belgian 6s, Jan. 1, ’25 90 90% Belgian 7%5, June 1, '45 104 104% Belgian Bs, Feb. 1. '4l 104% 105 Berne Ss, Nov. 1, ’45 106% 107 Chile Ss, Feb. 1, ’4l 101 101% Christiania Ss, Oct. 1, ’45 100% 107 Copenhagen 5%5, July 1, ’44.. 89% 90 Danish Mnn Ss, Feb. 1. ’46 106% 107% Denmark Bs. Oct. 15, ’45 108% 100 •Canadian 5%5, Dee. 1. ’22... 90% 01% •Canadian 5%5, Nov. 1, ’23... 89% 90% •Canadian 5%5, Nov. 1, ’24.... 88% 90 •Canadian ss, Dec. 1, ’25 80% 88 Canadian ss, Apr. 1, ’2O 93% 97 •Canadian 5%5, Dec. 1, ’27... 90 91% Canadian 5%5. Aug. 1. ’29.... 97% 97% Canadian ss, Apr. 1, ’3l 94% 91% •Canadian ss. Oct. 1, ’3l 86% 8S •Canadian 5%5, Nov. 1, ’33... 90 % 91% •Canadian 5%5, Nov. 1. ’34.... 87 % 88% Canadian ss, Meh. 1. ’37 93% 04 •Canadian 5%5, Dec. 1, ’37.... 92% 03% •French (Viet.) ss, Opt., ’31.. 53 54 •French 4s, Opt., ’43 44 45% French Bs. Sept. 15, ’45 101% 101% •Italian (War) 5s 31 32% Jap (Ist) 4%5, Feb. 15, ’25.... 80% 87% .Tap (2d) 4%5, July 10, ’25.... 86% 87% Jap 4s, Jan. 1, ’3l 70 71% Norway Bs, Oct. 1, ’4O 108 100 Sao Paulo Bs. Jan. 1, ’3O 101% 102 Swedish Os, .Tune 15. ’3O 90% 07% Swiss 5%5. Aug. 1. ’29 95% 96 Swiss Ss, July 1, ’4O 11l 112 U. K. 5%5, Nov. 1, ’22 9014 99% U. K. 5%5, Aug. 1. ’29 95% 06 U. K. 5%5, Feb. 1, ’37 94% 05% Zurich Ss, Oct. 15, ’45 100% 107’ Brazil Ss 103% 104 French 7%s 00% ,90% Uruguay 8s 102% 103 Argentine 7s 00% 100 •Internal loans.

CORPORATION BONDS. Bid. Ask. Alum. Cos. of A. 7s. Nov.. ’25.101% 101% A. Cotton Oil os, Sept. 2, ’24 95% 00 Amer. Tel. (is, Oct., '22 100 100% Amer. Tel. os, Feb., ’24 00% 100% Amer. Thread os, Dec., '28... 99% 100% Amer. Tub. Vs, Nov., 22 100% 101% Amer. Tub. 7s, Nov., '23 lot -* 102 Anaconda Os, Jan., ’20....... 00% 90% Anaconda 7s, Jan., '29 100% 101% Anglo-A. Oil 7%5. Apr., '25 103% 104 Armour 7s, July 15, ’3O 102% 102% Atlantic Ref. o%s, Meh., '3l 103% 104%. Dell Tel. of Can. 7s, Apr.. '25 100 100% Beth. Steel 7s, July 15, ’22...1(H) 100% Beth Steel 7s. Joly 15, ’23....100% 100% Can. Pacific os. Meh. 2, ’24.. 90% 100% Cent. Arg. Ry. os, Feb., ’27.. 90 % 01% It. 1. A- P. 6s, Feb., ‘22 00)* 100% Con. Gas Bs, Dec., ’2l 100% 101% Copper Exp. Bs, Feb. 15, '22.100% 101% Coppir Exp. Bs, Feb. 15, 23..102 102% Copper Exp. Bs, Feb. 15, ’24.. 103% 103% Copper Exp. Bs, Feb. 15, ’25.. 104-% 105 Cudahy 7s, July 15, ’23 100% l'K)% Fed. Sugar os, Nov., '24 07 07%. Goodrich 7s, Apri., ’25 97% 97% Gulf Oil Os, July, ’23 99% 100% Gulf Oil 7s, Feb., ’33 1(12% l'>2;, Hocking Val. (is, Meh., '24.. 97% 98%. Humble Oil 7s, Meh. 15, '23..100 100% Int. U. T. 7s, Sept., '2l 74 70 K. C. Term os, Nov. 15, ’23.. 90% 100 Kenn. Copper 7s, Feb.. ’30.. 99% ltX(% Laclede Gas 7s, Jan, '29.... I*7 98 Proctor A G. 7s, Meh., '22... 100% 100% Proctor & G. 7s. Meh.. ’23 101% 101% Pub. Ser. N. J. 7s, Meh , '22.. 99 09% K. J. Reynolds (is, Aug . "22.100% 100% Sears Roebuck 7s, Oct. 15, ’22 100% 100% Sears Roebuck 7s. Oct. 15. '23.100% l(kl% Sinclair 7%5, May 15, '25.... 99% 100 Solvay & <’ie Bs, Oct., ’27 103% 104% Southern Ry. os. Meh., '22.. 99% 99% S W. Pel! Tel 7s, Apr., ’25.. 100% 101% Stand. O. (Cal) 7s,' Jan . ’3l 196 107 s. O. (N Y) 7s, Jan. '25-'3i 103% 108% ?. Paul VI) 5%5, Dec. 10, '23 98% 09’.. "ift 7s. Oct. 15. '25 100% 10t% xas Cos. 7s, Meh., '23 .101% 102 tah Sec. 6s, Sept. 15, '22.... 97% 98 Western El. 7s, Apr., *’2s 101% 104% Westinghouse 7s, May, ’31....105% 106

Local Stock Exchange

—Nov. 28. STOCKS. Bid. Ask. Did. Ry. A- Light com 60 05 Did. Ry. A I,gut pfd 75 ... Imlpis. & S. E. pfd 75 Indpls. & N. W. pfd 75 imlpis. St. Ky 30 41 T. Jt„ T. A L. pfd 51 Vi T .11., I. A E. com 5 l'. T. of I nil. com 1 U. T. of Ind. Ist pfd 7 U. T. of Ind. 2d pfd 2 Advance-Itumely com 10 Advance-Rumcly pfd Am. < renaming pfd 02 Am. Central Life ... Belt R. It. com 50 00 Belt R. R. pfd 43 Cent dry Bldg. Cos. pfd 01 Citizens Gas Cos 24% ... Dodge Mfg. Cos. pfd 88 Home Brewing 40 Ind. Hotel com 60 Ind. Hotel pfd 04 Ind. Nat. Ins. Cos 3% 6 Ind. .Title Guar. Cos 47% ... lull. I’ipe Lines 83 88 Indpls. Abattoir pfd 40% 50 Indpis. Gas 42% 49 Indpls. Tel. com 2 Indpls. Tel. Pfd 00 \fcr. Pub. I'til. pfd -11 % 51% Nat. Motor Car Cos 1%. 4 Pub. Sav. Ins.’ Cos 4% ... Ranh Fertilizer pfd 40 Stand. Oil of Indiana 87 90 Sterling Fire Ins. Cos 7 7% Van Camp lidw. pfd 100 Van Camp Prod, lsl pfd 100 Van Camp Prod. 2d pfd...., ... 100 Yandalia Coal Cos. com 5 Vandadia Coal Cos. pfd 5 9 Wabash Ry. com Wabash Ry. pfd 21 26 BONDS, Broad Ripple 5s 50 ... Citizens St. Ry. 5s 67 75 Indian Ok. Coal A Mine 100 Ind. Coke A- Gas 0s 83 89 Indpls., C. A *4. t; *90% Imlpis. A- Martinsville 55.... 58% Indpls. North. 5s 30% 43 Indpls. & N. W. 5s 40 68 indpls. A S. E. 5s 45 Indpls. A S. E. 5s 75 Indpls. St. li.v. 4s 40% 50 Indpls. T. A T. 5s 69% 70 T. JL, I. A E. 5s 50 U. T. of Ind. 'is 47% 51% Citizens Gas Cos. 5s 78 85 Imlpis. Gas Cos 75% 84 Kokomo. M. AW. 5s 77% 88 Ind. notol Cos. 2d 6s 94 Indpls. 1,. A 11. 5s 80% Ml indpls. Water Cos. 4%s 74 83 Indpls. Water ’’o. 5s 91 % 99 Mcr. H. A L. 5s 91% 100 New Tel. Ist 6s 94 ... New Tel. L. D. 5s 93% ... Sou. Ind. Power 5s 88% LIBERTY BONDS. Liberty Ist 3%s 95 94 90.34* Liberty Ist 4%s 95.80 (10.30 Liberty 2d 4%s 90.70 80.26 Liberty 3d 4%s 97 00 97.50 Liberty 4fli 4%s 90.00 90.30 Victory 4%s 99.80 100.00

Local Curb Market

(By Newton Todd) —Nov. 28— Am. Hominy com 14 20 Burdick Tire j. 2 Central A Coast Oil 1 2 Choate Oil Corp % i% Columbian Fire Ins, Cos 6 7% Comet Auto 1% 2% Dayton Ruber Units 07 74 Dictograph Prod, pfd 46 55 D. \V. Griffith 8 9% Elgin Motor Car 3% 5 Federal Fin. Cos. pfd 7% $6 Fed. Fin. Cos. com 120 127 G.t Sou. Prod. & Ref 5 6 Hurst & Cos. pfd 25 45 Indiana Rural Credits 63 eg, Metro, a-10c Stores com 8 n M tro. 5-50 e Stores pfd 25 30 National Underwriting 3% 5 Revere Motors % Rauch & Lang Units 46 53 Itub-Tes Units 15 17% V. S. Automotive Units 70 80 V. S. Mtg. Cos. Units 146 156 BANK STOCKS. Commercial Natl. Bank 71 81 Continental Natl. Bank 10ft irj Indiana Trust Cos 175 190 Indiana Natl. Bank 258 268 Merchants Natl. Bank 280 Natl. City Bank 105 110 Security Trust Cos 136 State Savings & Trust 91 96 Wash, lank Ac Trust C 0.... 15u

SWINE STEADY TO 20 CENTS LOWER Packers Display Good Demand for All Grades of Cattle. RANGE OF BUG PRICES. Good Good Good Nov. Mixed. Heavy. ught. IS. $6.75 $6.65@ 6.75 s6.Bs<Ln 7.00 19. 6.86® 6.90 6.75® 6.86 7.10 24. 7.10® 7.15 7.00 7.15® 7.26 22. 6.75 6.75 6.75® 7.00 23. 6.85® 6.90 6.75 6.85® 7.15 25. 7.10® 7.35 7.00® 7.10 7.35® 7.50 26. 7.20® 7.40 7.20 7.50® 7.65 23. 7.15® 7.25 7.00 7.35® 7.50 With receipts around 9,000 and trade of rather an uncertain nature, swino prices were steady to 20 cents lower in dealings on the local live stock exchange today. However, the bulk of the sales were 10 to 20 cents lower, with only a 'few of the extremely light swine selling at steady prices. Although local packers were in the market, a (letinite schedule was not established. every buyer having a schedule all to himself upon which he bought his svvjne. Hogs weighing around 190 pounds and down brought $7.35®7.40 generally, those weighing 190 to 210 pounds, $i.15®7.30 and those weighing over 223 pounds $7, with a few at $7.10. Pigs .brought $7.50 generally, with a few sales of that grade at $7.75. Roughs brought $0.25 and down and stags $4.50 (si 0. The bulk of sales were made at $7.20 @7.35. A large numtier of the receipts hid been sold at an early hour in the forenoon and a good clearance for the day was anticipated. Despite (he fact that there were close to 1,000 cattle on sale on the opening market session of the week, prices were strong to 25 cents higher generally. Good grades of steers, cows and heifers were strong to 25 cents higher, bulls were demanding prices that showed strength and canners and cutters were steady. Packers were showing fair demands and it was thought that most of the good cattle offered for sale would be sold before the close of the day. A large part of the receipts were Stockers ami feeders, which brought prices that were considered fully steady to strong. The bulk of the steers and heifers cu sale were medium to good grades. Veal prices were steady generally, with receipts around 400 and the demand by shippers with Eastern house connections good. The top of sll, which was established on the following market of the previous week, was maintained, while the hulk of the choice veals brought slu.so® 11. There were less than 100 sheep and lambs on the market and prices were steady generally, with the exception of a few choice lambs which brought $9 and were 25 cents higher. HOGS. Best light hogs, 130 to ISO llis. average $ 7.35 (a 7.50 Over 13(1 IPs 6.75(0 7.00 ISO to 300 lbs 6.85a 7.50 Sows 5.50% 6.25 Stairs 4.2566 0.0(1 Best pigs under 140 lbs 7250® 7.75 Tot 7.50 Bulk of sales 7.20® 7.33 CATTLE. Prime eornfed steers, 1.300 to 1.800 lbs 7 25® 5.25 Good to choice steers, 1,200 to 1.3(H) Ills 6.30® 7.25 Good to choice steers, 1,100 to 1,200 lbs 6.00® 6.50 Good to choice steers, 1,000 to 1,100 lbs 4 73® 5.73 Common to medium steers, 800 to 1,000 lbs 4.25® 4 73 Choice yearling steers B.oo®n.OOj —Heifers and Cows— Good to choice heifers 6 50® 8.00 Medium heifers 5.00® C.tK) Common to medium heifers.. 3.50® 5.00 Good to choice cows 2.25® 3.75 I Fair to medium cows I.oo® 2.00 Cutters 1.50® 2.50 Canners 75® 1 50 . —Bull*— Good to choice butcher bulls. 3.30® 4.0(1 Bologna bulls 3.00® 3.25 | Light bologna bulls 2 25® 275 Light to common bulls 2.00® 2.25. —Calves— Choice veals 19.50(511.00 Good veals 9.50® 10.00 : Medium veals 8.50® 9.50 Lightweight veal* 6.00® HOO Common heavyweight veals.. 3.00® 5.50 —Stockers nnd Feeders— Good to choice steers, under HKO lbs 4.50® 5.50 Medium cows 2.ihi@ 3.00 , Good cows 3 00(n; 4.00 I Good heifers 5.0(1® 7.00 j Medium to good heifers 4.00® 5.00 1 Milkers [email protected] SHEET AND LAMBS. Ewes I.oo® 2 s*) Bucks l.oOdij 2.04) Choice ewes and wether lambs 7.00 m P.tXi Seconds 5.00® 6.00 Buck lambs 5. (Hi® 650 Culls 3.00® 5.00

Other Livestock

CHICAGO. Nov. 28.—Hogs—Receipts, 50,000; market mostly steady to strong; bulk of sales. $0.85(0 7.10; top, 57.25; 1 envies, [email protected]; mediums, $6,954/7.10; lights, s69o® ~ 15; tight lights, $..n54/ 7.25; heavy packing sows, smooth. $0.25 @0.75 ; packing sows, rough. $6476.35; pigs, $7((/7.50. Cattle- Receipts 22,000; market generally steady to strong: beef steers, choice and prime, SS4J 11.50; medium and good, SO4/9.75; good anil choice, $9(7/11.50; common and medium. $4.75@7. Butcher cattle Heifers. $3.50(39: cows, $3\354/ 6.25 : bulls, $3,254; 6. Canners and cutters—Cows and heifers, $2,504/2.35; runner steers, $2,504/3.50; veal calves. $0,50 4J9.50; feeder steers. ? 1.004/0.00 ; stacker steers, [email protected]; stacker cows and heifers, s3@s. Sheep and lambs— Receipts, 30,000; ina/ket steady; good to choice lambs, $S.75@ 10: cull and common lambs, $6 [email protected]; yearling wethers, s'[email protected]; ewes, $2.75@ 4.75; cull and common ewes, $1 .50472.50 ; fccilrr lambs, $7.50478.50. CINCINNATI, Nov. 28.—Hogs - Receipts, 9.500; market steady to 25c higher: heavy and mediums, $7.50; lights, $7.75; pigs. $8; roughs, $5.75; stags. $4.75. Cattle -Receipts, 2,600; market strong to 25c higher; bulls steady; calves, unevenly higher at $104712. Sheej) and lambs— Receipts, 200; market, steady; ewes. sl4f 3.50; choice lambs, 50c higher at $10.50; seconds, $8; culls, $54/ 6. CLEVELAND, Nov. 28.—Hogs---Re-ceipts, 7,000; market steady; yorkers, $7.60; mixed, $7.60: mediums. $7.60; roughs, $6; stags. $4. Cattle —Receipts, 1.000; market, steady; good to choice steers, $8(7)9: good to choice heifers, ss@ 6; god to” choice cows, [email protected]; fair to good cows, $34/4; common cows, $2473; good to choice bulls, sl4/4.75; milkers, 8554/75. Sheep and lambs Receipts, 2.800; market, 25c to 50c higher; top. sll. Calves—Receipts, 650; market 59c higher; top, $11.50. EAST ST. LOUIS, Nov. 28.—Hogs—Receipts, 25,500; market, steady; mixed ami butchers, $7.054/7.15; good heavies, $74; 7.10; roughs. $.1.754/6; lights. $7,104/7.25; pigs. $7.2.'/*/7.o0; bulk of sales. $74/7.15. Cattle—Receipts, 7,500: market, steady; native beef steers, s7 (a ß; yearling steers and heifers, [email protected]; cows. $3,254/5; calves, $3@,10; cancers and entters, $2.50@; 3. Sheep and lambs—Receipts. 1.500: market steady: mutton ewes, [email protected](>; choice lambs. s9@lo; canners and choppers, sl4/2. PITTSBURGH, Nov. 28.—Hogs—Receipts, 7,500; market, 10 to 25 rents lower; prime heavies, $7,254/7.40: mediums, $8.13 41,8.25; heavy vorkers, $8.1041)8.25: light yorkers, $5.15@)8.25; roughs, $5,504x6.25; stags, sl4/4.50; heavy mixed. $7.60(</ 7.75. Cattle—Receipts, 1,400; market. 25 “cents higher generally; choice, $84x8.25; prime, $7.2547 7.75: good, $74/7.25; tidy butchers, $6,504/7; fair, $5,254x0; common. $(@5.25; common to good fat bulls, $54X5.25 ;~com-

Preferred Stock Dividend No. 1 Citizens Gas Company of Indianapolis The board of directors has declared a dividend of one and threequarters (1 per cent on the preferred stock of the company payable December 1, 1921. Books will close at the close of business Saturday, November 26, 1921, and will re-open on Thursday, December 1, 1921. Cheeks will be mailed to stockholders at addresses as recorded with the company. J. D. FORREST Secretary.

mon to good fat cows, s2@s; heifers, s4® 6; fresh cows and springers, $50®00; veal calves, sl2; heavy and thin calves, s7® 9. Sheep and lambs—Receipts. 5,000; .market, 25 cents higher; prime wethers, [email protected]; good mixed, [email protected]; fair mixed, $3.75®4.25; culls anil commons, [email protected]; choice lambs, $10.50. EAST BUFFALO, Nov. 28— Hogs—keceipts, 14,400; market, active; yorkers, $8; pigs, $8.25®8.50; mixed, $7.75®8; heavies, $7.00® 7.75; roughs, [email protected]; stags, s4® 5. Cattle—Receipts, 1,900; market active; skipping steers. $S@9; butcher grades, s7®B; heifers, s4@7; cows, $1.75® 5; bulls, s3@s. Calves —Receipts, 1,900; market, active; cull to choice, ss@l2. Sheep adn lambs—Receipts, 10.000; market, active; choice lambs, [email protected]; cull to fair. s7® 10.25; yearlings, $3®7.50; sheep, $1.50®4.75. SHARP ADVANCE IN WHEAT PRICES Corn Is Fractionally Higher— Oats Show Losses. CHICAGO, Nov. 28. —Wheat prices advanced sharply on the Chicago Board of Trade today because of a marked demand by commission houses which continued throughout the session. Buying orders predominated at the opening. Corn was. fractionally higher and oats lower. Provisions were irregular. December wheat opened up %o at $1.13 and closed l%c up. May wheat opened j at $1.16%, up lc, and was l%c higher at the close. December corn opened up %c at 48%c I and closed up %c. May corn opened up I lc at 55c and closed %c higher. December oats opened unchanged at 33%c and closed off %c. May oats opened at 38%c, unchanged, and was %e lower at the close. (By Thomson A .McKinnon.) —Nov. 28 — . Wheat An important change has developed in tiie wheat situation in that the exportable surplus of Australia is estimated at 20,000,000 to 30,000,000 below previous estimates, and crops in France and Italy are not favorable. The market has been strong, being aided materially by further reports of drought in Argentina and by the State crop report of Kansas, which shows a condition the lowest on record and about 30 points below the average. Export trade and flour business are again reported dull, but cash wheat at all markets retains its strength because of scant offerings. The reduction in the visible supply was brought at.out by a change in reporting the accumulations at Galveston. It is also to be noted ttiat supplies of 4 mdiun wheat in bond at United States p aits increased some 4,134,000 bushels. Ultimate prices have hinged upon the crop of the Southern Hemisphere, therefore the present news from that territory is of vital importance and should result in a higher level of values, irrespective of the question of export demand for North American wheat. If there is any disaster in Australia and Argentina every bushel of North American surplus will be needed. Corn and Oats—Liquidation of December holdings, both in corn and oats, is under way and counteracts this influence of \ heat. It is claimed a little export business was done in corn at western markets, but there was no evidence of anything in the Chicago market. Supplies of oars at all points are not yet being reduced, bit the corn supply makes a better showing. Outside of the fact that prevailing prices in corn and oats discount the accumlatlon In sight and places the market in a healthy position, tiie time has come when the world’s sitation in wheat, which promises to develop considerable strength, will influence the minor grains. CHICAGO GRAIN TABLE. —Nov. 28— WHEAT—- Open. High. Low. Close. Dec 1.13 1.15 1.12% 1.14% Mav 1.16% 1.18% 1.15% 1.17% CORN—lice 48% .49% .4814 .49 May 55 .55% .54% .54% OATS— Dec 33% .33% .32% .33 Mav 58% .38 1 .38% .35% FORK—•Jan 13.20 LARD— Jan.... 8.57 872 8.52 8.72 Mav.... 8.87 9.02 887 8.02 IHB**!an (-35 May.... 7.70 775 7.72 (.72 It Vildan 85% .87 .85 .Si May 91% .93 2)1 .93 •Nominal. TOLEDO GRAIN TRICES. TOLEDO. Nov. 2.8. Wheat —Cash Sl"7'-: December. $1.27%; May, $1.3). Corn-* Cosh. 55® 56c. Oats—Cash, 39® lie. Rye—Cash, SBc. Barley—Cash, 60c. PRIMARY MARKETS. (I’.y Thomson A McKinnon) —Nov. 28— —Receipts— Wheat Corn Oafs St. Joseph ... 71,090 38.000 8.000 Chicago 65.000 449,000 201.0(H) Milwaukee .... 9.00 86.000 76,000 Minneapolis .. 332,tun) 120.000 149.0(H) Duluth 30.000 38.0(H) 4,000, St Loots .... 64,000 108,000 56.000 Toledo 83.000 9.000 2.000 Detroit 6.000 7.0(H) 18,000 j Kansas City.. 390.0(91 45,000 20.000 Peoria 't OJHMI 95,000 97,0001 Omaha 46.0(H) 133,000 48.000 Indianapolis.. 8,000 74,000 18,000 j Totals 1.373,000 1.202.0(H) 6*97.000 j Year ago . .1,748.000 819.000 496,000 —Shipments— Wheat Corn Oats St. Joseph.... 4.000 42,000 2,000 Chicago 34.000 670.0(H) 1 0r,.000 Milwaukee .. 12’,.000 3,000 23.000 Minneapolis .. 115.0(H) 22,000 6(5,000 Duluth 461.000 St. Louis .... 44.000 75.000 39,000 1 Toledo 3.0(H) 6,000 5,000 1 Detroit 2.090 3,000 I Kansas City.. 147.CXX) 14.000 19.000 Peoria 4.000 54.000 77.000 Omaha 38.000 6UHIO • 52,000 Indianapolis.. S.OOO 27,000 22,000 Totals 945.000 950.000 411.000 Year ago ..1,003,000 295.000 395,000 —Clearances — Wheat Corn Oats New York .. 41,000 103,000 Philadelphia.. 232,000 Totals 273,000 103.0(H) Year ago.. .1.796,000 74,000 30,000

INDIANAPOLIS CASH GRAIN. —Nov. 28— Bids for car lots of grain and hay at the call of the Indianapolis Board of Trade were: Wheat —Firm; No. 2 red, $1.20471.31. 'Corn—Firm: No. 2 white. 53@55%c: No. 3 white, 524/ 53%c; No. 2 yellow, 54 @5%0; No. 3 yellow, 52%@54c; No. 2 mixed, 51%@53e; No. 3 mixed, 51%@ 52 %c. Oats—Steady: No. 2 white, 3S@39c: No. 3 white, 364/370. Hay—Steady; No. 1 timothy, sl7@ 17.50; No. 2 timothy, $16.50@17; No. 1 light clover mixed, $164x10.50; No. 1 clover, $19@20. —lnspections Wheat —No. 2 red, 1 car; No. 2 dark hard, 1 car; sample, 2 cars; total. 4 cars. Corn—No. 3 white, 3 cars; No. 4 white, 6 cars; No. 5 white, 3 cars; No. 1 yellow, 4 cars; No. 2 yellow. 2 cars; No. 3 yellow, 4 cars: No. 4 yellow. 15 cars; No. 5 yellow, 5 cars; No. 6 yellow. 1 car; No. 3 mixed, 4 cars: total. 47 cars. Oats—No. 1, white, 1 car; No. 2 white, 4 cars; No. 3 white, 13 cars; No. 4 white, 9 cars; sample white, 2 cars; total, 29 cars. Rye—No. 4, 1 car; sample, 1 oar; total, 2 cars.

From Our Model Grocery QUALITY—SERVICE—MODERATE PRICES

SMOKED SHOULDERS —Boned and rolled, splendid for frying or roasting, 90 pound ZiJC GOLDEN KING COFFEE —Our own blend of the finest 09 coffee, pound J / C

SUN-LIT WHEAT CEREAL, an Ideal breakfast food (3 pounds, 17c), pound 6® DOMESTIC SWISS CHEESE, New York State, pound ..42® LUDWIG’S SALAD DRESSING. 11ounce jar 35® LUDWIG’S PURE EGG NOODLES, 4onnee box (dozen, $1.30), b0x.. ..11®

PEAS, Monarch, extra sifted, Early Junes (dozen cans, $4.15), can ...39® P I X E A PPLE, Luxury brand, extra fancy grated (No. 2 can, 22c); sliced, No. 2 can 24® GOLDEN BANTAM KWALITY CORN, finest flavor dozen cans, $2.60), can 24®

THE BASEMENT STORE-

THE MERCHANDISE SENSATION OF THE TOWN—OUR SALE OF DRESSES For Women and Misses |Q) sls, $18.50, $22.50 ✓A/S and $25 qualities. no ' \ ij $7.50, $lO, $12.50 and 1.1 *i I $15.00 qualities. v u We cannot remember a time when prettier dresses sold at these prices. The enormous crowds and the favorable comments from pleased customers demonstrates the extraordinary values. Extra salespeople, doormen and wrappers to render the maximum of service. One Hundred SUITS For Women and Misses Choice of any suit in the Basement Store. ] S3O, $35 and up to A 75 $59.75 Qualities — J. J/* PLAIN TAILORED AND FUR TRIMMED MODELS. FEATURING THE STYLE AND TRIMMING NOTES OF THB MOMENT. EVERY SUIT SILK LINED. The Suits are out of our own carefully assembled stocks and need no further assurance of the merit and careful tailoring. COLORS—Navy, Brown, Deer, Byzantine. MATERIALS—VeIours, Tricotines, Suede Velours. FUR TRIMMINGS—Beaver, Coney, Nutria, Near Seal (Coney)

From the Toy Department

; : i . StiUviSCCAIv J * it t masmM

THE PLAYPHONE —Reproduction of a standard desk telephone; electric stroke bell rings as receiver - hook is moved up and ? P 4 S: 98c OVER AND UNDER—A most amusing mechanical toy; automobile runs down the upper incline, drops to the lower slope, from where „ the motor conveys it to the upper incline again; comes neatly boxed

BLANKETS, a soft, fleecy Bap; good weight; nice shades of tan with pretty washable color stripe borders, shellsttteh ends, double bed size (while supply lasts), 89c BLANKETS, heavy winter weight, extra heavy and warm, large double bed size, large plaid designs on blue and gray body; has the appearance of a genuine wool blanket (while 14 last), $5.00 (90 QQ quality UNBLEACHED SHEETING. 81 inches wide, smooth even thread (limit 10 yards to a 4 P customer), special, yard...“*JC UNBLEACHED SHEETING, extra fine grade for bedspreads, sheets, etc—--90 inches wide, special, yard ©5 c 1 SI inches wide, special, yard 5 SEAMLESS BLEACHED SHEETS, size 81x90 inches, deep hem; worth on today's market $1.50 (limit 4to a eus- <£■ -j/v tomer), each

The Wm. H. Block Cos.

BOURBON SANTOS COFFEE, fresh roasted, old crop (3 pounds, 79c), pound. U /C V r STANDARD OLEOMARGARINE (Uncolored, pound, 25c), colored, ready to serve, o A pound JtC

IMPERIAL PRESERVES, pure fruit and sugar, various flavors, 1 - pound jars (dozen, $4.25), jar 37® CRACKERS AND CAKES, LooseWiles Sunshine, finest Amer lean made, in bulk and packages, reasonably priced. —Fifth floor.

MECCANO SETS—Mechanics made easy for the boy; everything necessary is provided in each outfit—metal strips, pulleys, wheels, rods, nuts, bolts, etc., with a manual of instruction containing many designs of working models. Place your order now while there can be had a full assortment of these sets; prices rang- (ji pa ing from $26.00 down to. $ 1 .DU

RUGBY FOOTBALLS— Imitation leather (no phone orders); di 1 Q $1.50 quality sl.lO

“SANDY ANDY’’ FULL BACK watch him kick the ball; newest and most unique action toy put out this price 4 .' SI.OO

Flannel Skirts for Men $3.00 Quality $2' 39 They are perfect fitting, perfectly tailored, made with collars attached, double stitched for extra service, military shoulders, coat style, six-button front, two buttondown pockets; sizes 14 to 17V2; $3.00 Art jq quality * UNION SUITS FOR MEN —Heavy wool mixed, buff, perfect fitting cuffed sleeves and ankles, closed crotch, flat lock seams, strictly firsts; sizes 36 to 44; Art svq extra special / / HOSE FOR MEN—Heavy wool mixed, heather mixtures and black with gray toe and heel, ribbed elastic tops; strictly firsts; sizes 10 to 11%; 50c quality (3 rtp pairs, $1.00), pair JDC

11