Indianapolis Times, Volume 34, Number 184, Indianapolis, Marion County, 13 December 1921 — Page 10

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STRENGTH OF EXCHANGE BIG MARKET ISSUE Bonds of Four-Power Entente Governments Boosted in Price. STERLING, FRANCS UP Special to Indiana Daily Times and Philadelphia Public Ledger. By MONITOR. NEW YORK, Dec. 13.—Movements In the stock market were subordinated from the standpoint of general interest to the sensational strength in the foreign ei-i changes, particularly sterling and francs aDd the advance In thi bonds of the foreign governments participating In the four-power entente of the Pacific. The strength was especially pronounced in the Japanese issues, as well as those of the United Kingdom. Sterling moved up more than ten cents, but reacted about four cents late in the afternoon. Irregularity prevailed in the stock market. Several of minor specialties moved up sharply, among them being Manhattan Shirt and duett Peabody issues. Os the high priced specialties perhaps the strongest was General Electric which ran up four points. There was good buying of Roval Dutch and Shell Trading and Transport. Pacific Oil also was higher on reports of more inside buying. Although the Street was filled with reports of impending reductions in motor car prices most of the motor group showed steadiness with the exception of Chandler which broke sharply and recovered later on what was believed to be the reduction of Ehort commitments. The rubber and tire shares were steady to firm, the feature being the appearance of new buying in Keystone Tire and Rubber. There are rumors of the formation of a new pool to exploit the favorable financial and industrial position of this company. Coppers were firm with heavy buying of Chile the feature. Rails were inclined to heaviness. London was reported a buyer of Union Pacific early but the volume was not large. Steels were sluggish and without feature. The sharp break in cotton after the publication of the Government estimate attracted the attention of most of th e commission house clientele. The general impression appears to be the department of agriculture with the aid of the census ginning returns has made an approximately accurate forecast of production and the supply will not prove excessive.—Copyright, 1921, by Public Ledger Company. WALL STREET GOSSIP BY MONITOR. A report was in circulation that the Anaconda Company had offered to purchase all or a majority of the $15,000,000 per capita stock of the American Brass Company on the basis of $l5O cash and three shares of Anaconda a share. The report was denied by C. I. Brooker, chairman of the board of the American Brass Company, and by John D. Ryan, president of the Anaconda Company. Mr. Ryan said negotiations for the acquisition of the American Brass Company are in progress, but that the terms suggested are erroneous. A definite announcement is expected before the first of the year.

Professionals were the principal sellers of American Sumatra and at 29% the stock was wi-hin a fraction of its low price of the year. Short covering in the afternoon brought a rally of nearly three points, all of which was not held, however. All of the railroad stocks were under pressure, with selling concentrated In Chicago A Northwestern. The directors of this company meet today to act on the dividend and the selling naturaUy gave rise to reports as to their action. The I. C. C. hearing on lower rates scheduled for Wednesday also was used effectively In bringing selling into the railway shares. Sterling exchange advanced more than 10 cents to anew high at $4.24%. The continental exchanges also were strong. The advances were sufficient to prevent any considerable amount of short selling in the market, save only by the most hardened professionals. Bankers were Inclined to attribute the advance to manipulation to make less burdensome various foreign payments in American dollars in connection with the reparation. In a few minutes of trading in the late afternoon a break of 4 cents came In sterling, due, it was reported, to speculative profit-taking. The group operating In Pittsburgh coal advanced the price of their favorite to anew high. The advance was accompanied by reports of advantages to accrue to this company when the merger of independent steel companies becomes effective. Two years ago a great merger of coal companies was the report used for advancing the price of Pittsburgh coal above 70. The merger of that time never eventuated. The action of the steel and equipment stocks has been puzzling to traders and to market commentators alike. They do not go down more than a point or two; they do not go up more than a point or two. Opinion is equally divided as to whether accumulation or distribution is in progress. There is nothing in either the character of the buying or selling to afford a clew. —Copyright, 1921, by Public Ledger Company. NEW YORK SUGARS. NEW YORK, Dec. 13.—Trade in raw sugars was rather unsettled on the market here todav. but values ruled about firm Porto • Ricos selling at 3.875 c per pound, delivered. Trade in refined sugars was quiet. Prices were steady, both fine granulated and No. 1 soft being quoted at 3.20 c per pound NEW YORK COFFEE. NEW Y'ORK, Dec. 13.—Coffee values were again steady on the market here today, opening options being unchanged to 1 point lower. Rio No. 7 on spot sold at 9%@9%c per pound. NEW YORK RICE. NEW YORK, Dec. 13. —Rice values were firm in trade on the market here today, domestic sellling at 3%@7%c per ponnd.

Steel Mill Operations . Show Slight Reduction Hope of Reduction in Freight Rates Curtails Buying,

pecial to Indiana Daily Times and Philadelphia Public Ledger. PITTSBURGH, Pa., Dec. 13.—Produc:on of steel declined but slightly last tveek. New buying has fallen lower and iie forecast is for light buying of the and-to-mouth character, over the reminder of the year. Further, it is the pinion that new buying will begin in January and that it will assume important proportions. Nobody wants to arry over more tonnage than needed T nto 1922 and current orders and specifications are of lots that can be quickly used. Exceptions continue to be tin plate and steal pipe, in which larger orders are being placed. Buyers, however, wish to keep their stocks at a minimum for inventory purposes. Possible reductions in freight rates also influence consumers to postpone purchases. The price situation shows ittle change. Large inquiries for plates, shapes and bars are still bringing out low quotations. Pig iron con'.Ques only moderately active in the Pittsburgh district, some 10,000 tons beinf sold during the week, but local officials have reports of larger demand in eastern Pennsylvania and the Cleveland markets. Production increased largely in November, but most of it was by steel works furnaces. In this district idle merchant furnaces show no disposition to get into blast, while some of those operating are undoubtedly piling part of their make. Possibly production would be somewhat

N. Y. Stock Exchange

(By Thomson & McKinnon.) —Dec. 13 — Prev. High. Low. Close. Close. Allied Cbem.... 59% 57 58% Ajax Rubber.... 20 19% 19% 19% Allis-Chalmers . 39% 38% 39% 38% Am. Agricul 30% 30 30% 29% Am. Beet Sugar. 28 2S 28 28 Am. C. & Fdy...l4S 147 148 146% Am. Can 33% 32% 33% 32% Am. H.&L. com. 14% 13 14% 13 Am. H.&L. pfd. 59% 74% 55% 57% Am. Ice 76% 74% 76% Am. Int. Corp.. 41% 40% 41% 41% Am. Linseed.... 31% 28% 31% 29% •Am. Locomo... 99% 97% 95% 99% Am. Sm. & Ref. 47 46% 40% 46% Am. Sugar Ref. 54% 53% 54% 55% Am.S.Tob. Cos.. 30% 29% 30 30% Am. S. Fdy.... 34% 34 34% 34% Am. Tel. & Te1.116%' 115% 116% 116 Am. Tobacco ...134% 134 134% .... Am. W001en.... 82% 82 82% 82% At. Coast Line.. 88% 88 88 88% Ana. Min. C 0.... 49% 48% 49 49% Atchison 90% 90% 90% 90% At. G. & W. I. 33% 32 32% 32% Baldwin L0c0... 97 95% 96 95% B. & 0 36 35% 35% 35% Beth. S. < 8).... 58% 58 58% 58% Cal. Pete 44% 43% 44% 44 Can. Pac. Ry.. 121% 120% 121 121% Cent. Leather.. 31% 30% 31% 30% Chand. Motors.. 4S 48 48% 48% C. & 0 56% 55% 55% 56% C., M. X St. P. 20% 19 19% 20% C.,M. & St-l’.pfd 33% 31% 31% 33% Chi. &N. W.... 67% 65% 67 65% C., R. I. & I'ac. 32% 31% 31% 31% Chill Copper.... 15% J 4% 15% 14% Chino Copper.. 29% 28% 28% 28% Coca Cola 43% 41 Vi 4Jt% 41% Col. F. & 1.... 25% 25 25 25% Colum. Gas 65% 65 65% 66 Colum. Graph.. 3% 3% 3% 3% Cosden Oil 34% 33% 34 34 Corn Prods 93% 92% 93% 93% Crucible Steel.. 66% 64% 66% 64% Cub. Am. Sugar. 14 14 14 14 Cub. C. Sugar.. 7% 7 7% 7% Del. & Lack.... 111% 111 111 111 Erie 11% 10% 10% 11 Endicott 80% 80% 80% 80% Fam. Plays.... 78 75% 78 70% Fisk Rub. C 0... 10% 10% 10% 10% Gen. Asphalt... 68% 60% 07% 66% Gen. Cigars.... 08% 68% 08% .... Gen. Electric.. 143 141 % 142 142 Gen. Motors .. 11% 11 11% 11% Goodrich : 37% 30% 37 35% Gt. North, pfd. 76% 75% 75Vi 75% Gt. North. Ore. 31% 31% 31% .31% Houston Oil 83% 81% 82% 81% Haskell Barker 81% 81 81 79% Illinois Centre I J 9% 99% 99% Inspiration Cop. 40% 39% 39% 39% Invincible Oil.. 12% 11% 32 12% Indiahoma 4% 4% 4% 4% Inter. Harvester 83 82% 83 82% Inter. Nickel... 13% 12% 12% 12% Inter. Paper ... 54% 53% 53% 53 Island O. & T.. 2% 2% 2% 2% Kan C. South.. 24% 23% 24 23% Kelly-Tire... 43% 42% 42% 43 Kennecott Cop.. 27% 26% 27% 27% Lackawanna S.. 46% 45% 46 46% Lehigh Valley.. 59 57% 58 58% Lee Tire 29% 29% 29% 29 Loews. Inc 14% 14% 14% 14% Loft Gandy 10 9% 9% 10% L. & N 10S 108 108 108% Marine com 15% 15 15 15% Marine pfd 66% 64% 66 66% May Stores 103 100% 102% 100% Mex. Motor <P). 14% 13% 14% 13 Maryland 0i1... 26% 26 26 26 Mex. Petrol 121% 115% 121% 115% Miami Copper... 27% 27% 27% 28% Middle St. 0i1... 15 14% 14% 14% Midvale Steel... 28% 28 25% 28% Missouri Pac.... 18 17% 17% 18 -Miss. Pac. pfd.. 46% 35% 45% 45% Nat. En. & Stm. 41 39% 41 39 Natl. Lead 87 86% 86% 86% Nev. Con. Cop... 15% 15% 151, 15% N. Y. Central... 74% 73% 73% 73% New Haven 14 13% 13% 14 Nor. & West 97% 96% 96% 97 Nor. Pac 80 79 79% 79% Pacific Oil 46% 45% 46% 46 Pure Oil 40% 39% 39% 40% I’an-Am. Petrol. 57% 53 57% 52% Penna. Ry 33% 33 33% 33% People’s Gas.... 58 57 57% 50 Pierce-Arrow .. 14% 14% 14% 14% Pierce Oil Cn... 13% ft 13% 13 Pittsburgh CoaL 65% 64% 64% 65% Pr. Steel Car... 66 66 66 60 Pull. Pal. Car... 108 107 107% 106% Ry. Steel Spgs.. 93 93 93 93 Ray Copper .... 15% 15% 15% 15% Reading 72% 71 71% 71% Rep. I. & S 53% 53% 53% 53 Replogle Steel.. 30 28 28 27% Royal Dutch 52% 51% 51% 52% Sears-Roebuck . 57% 53% 56% 56% Sinclair 23% 22% 23 22% Sls.-Sbf. S. & I. 38 38 *8 37% South. Pacific... 80% 79% 79% ho Stn. Oil, Ca 1.... 92 91% 91% 90% Southern Ry.... 19% 18% 18% IS% Stnd. Oil, N. J.ISB IS6 1V,% 186% St.L. & S.F.com. 21% 21% 31% 31% Studebaker 81% 80 80% 80% Texas Coal & Oil 29% 28% 29 25% Texas Cos 47* 47% 47% 47% Texas & Pac. . 23% 23% 23% 23',4 Tobacco Prod. . 59% 58% 59% 58% Trans. Oil 11% 11% 11% 11% Union Oil 19% 18% 19% 19% Union Pac 127% 126% 126'% 127 United Retail S. 52% 51% 52% 52% U. S. F. P. Corp. 10% 10% 10% 10% United Fruit C 0.127 126% 1264, 126% United Drug ... 70 68 69% 68% U. S. In. A. .. 41 39% 40% 39% U. S. Rubber . 55% 54% 55% 74% U. S. Steel 84% 83% 84 83% U. S. Steel pfd...113 112% 112% 113 Utah Copper ... 65% 64% 64% 64% Van. Steel 33% 32% 32% 32% Vir-Car. Chem. . 29% 29% 29% 29% Wabash Ist pfd. 20% 20% 20% 20% White Oil 12 11% 11% 12 Western Union. 92% 92% 92% West. Elec 51% 50% 50% 51 White Motors... 4040 4040 Willys-Overland 6 5% 6 6 Wilson & C 0.... 28 28 28 27% Worth. Pump... 44% 44% 44% 43% Woolworth 126 124% 126 West. Pac 18% IS 18 ..... •Ex-dividend.

NEW YORK LIBERTY BONDS. —Dee. 13— Prev. High. Low. Close. Close. Liberty 3%s 95.60 95.30 95.40 95.30 Liberty 2d 4s 96.90 Liberty Ist 4%5. 97.40 97.24 97.20 97.32 Liberty 2d 4%5. 97.00 96.84 96.90 96.86 Liberty 3d 4%5.. 97.96 97.64 97.92 97.70 Liberty 4th 4%5. 97.46 97.10 97.26 97.28 Victorv 3%s 100.00 99.98 100.00 100.00 Victory 4%s 100.02 5*9.78 100.02 100.00 NEW YORK WOOL. NEW YORK, Dec. 13. —Wool values were again steady on the market here today, with trade fair. Prices of the past month were maintained, NEW YORK HIDES. NEW YORK, Dec. 13.-Hides were firm in trade on the market here today, native steer hides being quoted at 16% and branded steer hides at 15%c per pound.

restricted were it not desired to give employment to workmen and to use up the large stocks of iron ore that are left, there being reason to expect that Lake Superior iron ore will experience a further decline for the 1922 season, perhaps 50 cents. Semi-finished steel is apparently better held. One large consumer of sheet bars which purchased a lot of .$29 a short time ago has so far been unable to duplicate that price and has bought a portion of its December requirements at a price somewhat over S3O. In wire goods there is a large inquiry, virtually all concerning the entering of business after January first, and mills are more optimistic as to the outlook There has been a healthy increase in specifications. Operations of sheet and tin plate mills about balance. The American Sheet and Tin Plate Company starts the week with 70 per cent of As sheet mills going, a decrease of 7 per cent, while Its tin plate mills increased about the same proportion to 83 per cent. Independent operations are at atcut the same proportion. Some automobile producers are manifesting interest n 1922 requirements. Tubular goods are in growing demand and some of the Independent companies have attained SO per cent operations and all pipe companies sre doing better. Improved conditions in the oil industry have brought out considerable line pipe business.—Copyright, 1921, by Public Ledger Company.

PETROLEUM IS STOCK FEATURE Specialties Share Strength of Final Trade. NEW YORK, Dec. 13.—The stock market closed strong today. Petroleum shares continued the chief features of the trading, with Mexican Petroleum selling up 6 points to 121% and Pan-American Petroleum advancing nearly 5 points to 57%. Specialties were also in demand. Famous Players sold up over 2 points to 78. ... American Ice, American Hi/le ana Leather. Allied Chemical and Underwood were other strong spots. St. Paul common was again in supply, closing at 1924 c. The preferred fell over 1 point to 31%. Steel common held steady around 84. Government bonds were unchanged and railway and other bonds strong. Total sales stocks were 933,290 shares. Total bond sales for the day were $16,982,000. (By Thomson & McKinnon.) —Dec. 13International news and the recent action of the foreign exchange market lias prepared us for developments of importance. Therefore, the cable from Paris, published by a local news agency, telling of an authorization by the interallied reparation commission for a German loan, comes at a time when the public mind is prepared for it and if this should be verified, it is easy to see what an Immense field, with new possibilities, is opened. These steps, one bj one, beginning with the disarmament conference, and logically leading on to an international economic conference, are all steps in the direction of world peace, and therefore, in time, to world prosperity. How different things appear today when you look hack but a few- short years to the chaotie State in the world at the close of the great war. We are making history, we are making progress and, financially, we have accomplilshed wonders ’in having passed through the drastic period of liquidation within the memory of men, and we are now enriched with a stock of gold and bank resources so fabulous that no undertaking could be so large as to be beyond the financial ability of the country. With such a foundation there need he no worry about business. Business will come in a volume sufficient to suit all. It is merely a matter of time. Eacn month that passes brings us nearer to the realization of our hopes, and it is this condition which is daily expressed in the constant rise in values. We continue of the same opinion that we have daily expressed in these letters, and recommend the purchase of stocks ou every reaction. TWENTY BTOCKS AVERAGE. NEW YORK, Dec. 13.—Twenty industrial stocks Monday averaged 80.63, up .47 per cent. Twenty active rails averaged 74.38, off .10 per cent. CLEARING HOUSE STATEMENT. NEW YORK, Dec. 13. —Exchange. $859,000,000; balances, $69,400,000; Federal Reserve Bank credit balance, $55,600,000.

Money and Exchange

Indianapolis bank clearings Tuesday were $3,330,000. NEW YORK, DecTTT—Following sharp advances made In the exchange market jesterday, leading exchanges suffered slight reactions at the opening today. Demand Sterling yielded l%c to $4.19%. Francs were off 8 centimes to 8.12 c for cables and B.llc for checks. Llres cables were 4.60 c; checks, 4.64. Belgians cables were 7.80 c; checks. 7.80 c. Marks were off 6% points to ,0054 c. Guilder cables were 30.40 c; checks, 36.38 c. Sweden kronen cables were 24.40 c; checks, 24.35 c. NEW YORK CALL MONEY. NEW YORK, Dec. 13—Money—Call monel ruled 5 per cent; high, 5 per cent: low. 5 per cent. Time rates quiet, ail 5 %5% per rent. Time mercantile paper quiet. Sterling exchange was easy, with business in bankers' bills at $4.17% for demand. MOTOR SECURITIES. (By Thomson & McKinnon.) —Dec. 13 — —Closing— Bid. Ask. Earl Motors 9% 10 Packard com 7% 8 Packard pfd 67% 69 Peerless 34 36 Continental Motors com 0% 6% Continental Motors pfd. 85 88 Hupp com 11% 12 Hupp pfd 92 98 Reo Motor Car 39% 39% Elgin Motors 3%* 4% Grant Motors 1 1% Ford .of Canatla 246 250 International Motor com. .... .... 28% National Motor* 3% 2% Federal Truck 15 17 Paige Motors 14 35% Republic Truck 6% 7 ACTIVE OIL STOCKS. (By Thomson & McKinnon.) —Dec. 13— —Closing— Bid. Ask. Anglo-Ameriean Oil 21% 21% Atlantic Refin.ng 9 9% Borne-Scrymser 320 340 Buckeye Pipe Line 80 85 Chesebrough Mfg. Cons ISO 190 Continental Oil, Colorado 120 125 Cosden Oil and Gas 6 8 Crescent Pipe Line... 21* 31 Elk Basin Pete 7% /% Eureka Pipe Line 78 82 Galena-Signal Oil, pref 100 Its; Galena-Signal Oil, com 40 43 Illinois Pipe Line 152 158 Indiana Pipe Line 80 83 Merritt Oil 10% 10% Midwest Oil 2% 3 Midwest Rfg 170 ISO National Transit 29 31 New York Transit 142 148 Northern Pipe Line 96 100 Ohio Oil 267 273 Oklahoma P. & R 6% 6% Penn.-Mex 15 19 Prairie Oil and Gas 560 7ißo Prairie Pipe Line 24*t 243 Sapulpa Refg 33% Solar Refining 350 379 Southern Pipe Line 77 82 South Penn Oil 220 228 Southwest Penn Pipe Lines.. 50 55 Standard Oil Cos. of Ind 87% 89% Standard Oil Cos. of Neb 15.5 105 Standard Oil Cos. of N. Y.... 375 380 Standard Oil Cos. of 0hi0....399 410 Swan & Finch 37 45 Vacuum Oil 320 330 Washington Oil 33 38

NEW TORIv Cl'RB MARKET. (By Thomson & McKinnon.) —Dec. 13— —Closing— Bid. Asked. Acme Packing 25 50 Curtis Aero com 1% 3% Curtis Aero pfd.., 18 22 Goldfield Con 2 5 Jumbo Extension 4 7 Imperial Oil (Del.) 9 9(4 International Petroleum...... 16% 16% Nipissing 6 0% Standard Motors 3% 4% Salt Creek 13% 14 Tonopah Extension 17-16 19-10 Tonopah Mining 1% 1(4 United P. S. new 1% 1% IT. S. Light and Heat 1 1% U. S. Light and Heat pfd.... 1% 1(4 Wrigbt-Martln 2 5 Yukon Gold Mine Cos 1 1% Jerome 35 38 New Cornelia 16(4 17 United Verde 27)4 28% Sequoyah 5 10 Omar Oil 72 75 Rep. Tire 10 20 CHICAGO STOCKS, (By Thomson & McKinnon.) —Dec. 13Open. High. Low. Close. Armour pfd 91% 91% 94% 94% Ar. Leather.... 12% Carbi. & Carbo. 44 44 43% 43% Libby 6 6 5% 5% Mont-Ward ... 12% 'l3 12% 13 Nat. Leather.... 3% 2% 2% 2% Piggly Wiggly.. 25(4 28 25(4 27(4 Ueo Motors 19(4 S-Roebuck 56% Swift & Cos 97% 98 97% 98 Swift Internat.. 21(4 21% 20% 21 NEW YORK METAL MARKET. NEV YORK, Dec. 13.—Copper—Quiet; spot, December and January offered 13c. Lead—Quiet; spot, December and January offered 4.75 c. Spelter—Quiet; spot, December and January, 4.85 c,

INDIANA DAILY TIMES, TUESDAY, DECEMBER 13, 1921.

New York Bonds

(By Fletcher American Cos.) —Dec. 13— FOREIGN GOVERNMENT BONDS. Bid. Ask. Arg. (Unlisted) ss, Sept. 1, ’45 73 74 Belgian Cs, Jan. 1, ’25 85% 96% Belgian 7%5, June 1, ’45 103% 104% Belgian Ss, Feb. 1. ’4l 104% 105% Berne Ss, Nov. 1, ’45 v. 107% 108% Chile Bs, Feb. 1, ’4l 102% 302% Christiania Bs, Oct. 1, ’45 107 108 Copenhagen 5%5, July 1, ’44. 87% 88 Danish Mun Bs, Feb. 1, ’46. .107 108 Denmark Bs, Oct. 15, ’45 107% 108% •Canadian 5%5, Dec. 1, ’22.. 91 92% •Canadian 5%5, Nov. 1, ’23.. 90% 91% •Canadian 5%5, Nov. 1. ’24.. 89% 91 •Canadian ss, Dec. 1, '25.... 88% 89% Canadian ss, Apr. 1, ’25 96 96'% •Canadian 5%5, Dec. 1, ’27.. 91 92% Canadian 5%5, Aug. 1, ’29.... 97% 97% Canadian ss, Apr. 1, ’3l 94% 95% •Canadian ss, Oct. 1, ’3l 88 89% •Canadian 5%5, Nov. 1, ’33 92 93%, •Canadian 5%5, Nov. 1, '34.. 89% 90% Canadian ss, Mch. 1, ’37 93% 94% •Canadian 5%5, Dec. 1, '37... 93% 95 •French (Viet.) ss, Opt., ’31.. 62 63% •French 4s, Opt., ’43 51% 53 French Bs, Sept. 15, ’45 99% 100% •Italian (War) 5s 33% 34% Jap (Ist) 4%5, Feb. 15, ’25.. 87 % 88 Jap (2nd), July 10, ’25 87% 88 Jap 4s. Jan. 1, ’3l 73% 74% Norway Bs, Oct. 1, ’4O 108' 110 Sao I’aulo Bs, Jan. 1, ’36 101- 102 Swedish 6s, June 15, ’39 95% 96 Swiss 5%5, Aug. 1, ’29 95'/. 96 Swiss Bs, July 1, ’4O 112% 114 U. K. 5%5, Nov. 1, ’22 99 % 99% U. K. 5%5, Aug. 1, ’29 99% 99% U. K. 5%5, Feb. 1, ’37 95% 95% Zurich Bs, Oct. 15, ’45 108 ' 109 Brazil Bs, June 1, ’4l ...104 104% French 7%5, June 1, ’4l 94% 95 Uruguay Bs, Aug. 1, ’46 102 103 Argentine 7s, Oct. 1, ’23 99% 100% •Internal Loans. CORPORATION BONDS. Bid. Ask. Alum. Cos. of Am. 7s, Nov. *25.100% 100% Am. Cotton (Ml 6s. Sept. 2, ’24 95% 96 Amer. Tel. 6s, Oct. ’22 100% 100% Amer. Tel. 6s, Feb. ’24 99% 100% Amer. Thread Cs, Dec ’28...100% 100% Amer. Tob. 7s, Nov. ’22 100% 101% Amer. Tob. 7s, Nov. ’23 101% 102% Anaconda Cs, Jan. ’29 97 % 97% Anaconda 7s, Jan. 29 101% 102% Anglo-Amer. Oil 7%. Apr. ’25.103% 103% Armour 7s, July 15, ’3O 102% 102% Atlantic Ref. 6%5, Mch. ’31.. 104 104% Bell Tel. of Can. 7s, Apr. ’25.. 100% 100% Beth. Steel 7s, July 15, ’22... 100% 100% Beth. Steel 7s, July 15, ’23... 100% 100% Can. Pacific 6s. Mch. 2, ’24.. 100% 100% Cent Arg. Ry. 6s, Feb. ’27... 91 91% R. I. & P. 6s, Feb. ’22... 99% 109% Con. Gas Bs, Dec. ’2l 100% 101% Copper Exp. Bs, Feb. 15. ’22.. 100% 100% Copper Exp. Bs, Feb. 15, ’23... 101% 102 Copper Exp. Bs, Feb. 15, ’24.103 103% Copper Exp. Bs. Feb. 15. ’25.. 103% 104% Cudahy 7s, July 15, ’23 10i*% 100% Fed. Sugar Cs, Nov. ’24 96% 97% Goodrich 7s, Apr. ’25... 98% 98% Gulf Oil Cs, Julv. ’23 99% 100%. Gulf Oil 7s. Feb. ’33 102% 103 Hocking Val. 6s. Mch ’24... 97’. s*B Humble Oil 7s, Mch. 15 ’23.. 100% 100% Int. It. T. 7s. Sept. *2l 70 72 K. C. Term Cs, Nov. 15, ’23 99% 100 Kenn. Copper 7s. Feb. 30 101 101% Laclede Gas 7s, Jan. ’29 98 98>-. Proctor & G. 7s. Mch. ’22 lt>o% 100% Proctor & G. 7s. Mch. ’23....101% 101% Pub. Ser. N. .T. 7s, Mch.. ’22... 100% 100% R. J. Reynolds o*. Aug. ’22.. 100% 100% Sears Roebuck Ts, Oct. 15. '22 . 99% 99% Sears Roebuck 7s. Oct. 15, ’23 5*9% 99% Sinclair 7%5. May 15. *25.... 5*9% 100 Solvay & Cie Ss, Oct. ’27...103% 104% Southern Rv. 6s. Mch. ’22 99% 99% S. \V. Bell Tel. 7s. Apr. ’25... 100% 101% Stand. Oil (Cal.) 7s. Jan. ’31..105% 106 S. O. (N. Y.) 7s, Jan. ’25-’3l 104% 108% St. P. I'. P. 5%5. Dec. 15. '23 98 % 99% Texas Cos. 7s, Mch. 1, '23...in0% 101 Ftah Sec. 6s, Sept. 15. ’22... 97 97% Western El. 7s. Apr. ’25 103% 104% Weetlnghouso 7s, May, '31... 105% 105%

Local Stock Exchange

—Dec. 13STOCKS. Bid. Ask. Ind. Ry. & Light com 60 Ind. Ry. & Light pfd 75 Indpls. & S. E. pfd 00 Indpis. & N. W. pfd 60 Indpis. St. Ry 87 ... T. 11.. T & L .pfd 53% ... T. H., I. & E. com 4 T. H, I. & E. pfd 12 IT. T. of Ind. com U. T. of Ind. Ist pfd U. T. of Ind. 2d pfd 2 Advance-Rumely com 9 16 Advance-Rumely pfd Am. Creosntlng pfd 92 Am. Central Life 180 Beit R. R. com 59 68 Belt R. R pfd 45 ~.., Century Bldg. Cos. pfd 91 Citizens Gas Cos 25% ... Dodge Mfg. Cos. pfd 88 Home Brewing 49 Ind. Hotel com 61% ... Ind. Hotel pfd 04 Ind. Nat. Ins. Cos 3% 5 Ind. Title Guar. Cos 47% ... Ind. Pipo Lines 79 86 Indpis. Abattoir pfd 41% 50 •Indpis. Gas „ 42% 47 Indpis. Tel. com. 4 12 Indpis. Tel. pfd - 90 ... Mer. Pub. Util, pfd 41% 51% Nat. Motor Car Cos 1% 3 Pub. Sav. Ins. Cos 4% ... Rauh Fertilizer pfd 40 Stand. Oil of Indiana 87% 89% Sterling Fire Ins. Cos 7 9 Var, Camp Hdw. pfd 100 Van Camp Prod. Ist pfd 100 Van Camp Prod. 2d pfd 100 Vandalia Coal Cos. Cos. com..; ... 3% Vnndalia Coal Cos. pfd 4 4% 8% Wabash Ry. com Wabash Ry. pfa .... BONDS. Broad Ripple 5s 55% ... Citizens St. Ry. 5s * 67% 74 Indian Ck. Coal and Mine 100 Ind. Coke & Gas 6s : S3 89 Indpis. C. & S. 5s 91 ... Indpis. & Martinsville 55... 55 62 Diduls North. 5k 37% 43 Indpis. & N. W. 5s 50 56 Didpls.lfc S. E. 5s 45 Indpis. S. & S. E. 5s .. 75 > Indpis. St. Ry. 4s 50 56 Indpis. T. & T. 5s 71% 75 T. H., I. & E. 5s 52 U. T. of Ind. 6s 47 53 Citizens Gas 5s 80 85 Indpis. Gas Cos 78% 84 Kokomo, M. & W. 5s 80 88 Ind. Hotel Cos. 2d 6s 95 Indpis. L. & H. 5s 82 so Indpis. Water Cos. 5s 91% 94 Indpis. Water Cos. 4%s 74 82 Mer. H. &L. 5s 95% 98% New Tel. Ist 6s 94% ... New Tel. h. D. 5s 93% ... Sou. Tnd. Power 5s 88% •Ex-divider.d.

Local Curb Market

(By Newton Todd) —Dec. 13— Am. Hominy com 14 20 Central and Coast Oil 2 ... Choate Oil Corp % 1% Columbian Fire Ins. C 0...... 6 7% Comet Auto 1 2 Dayton Rubber Units 60 CO Dictograph Prod, pfd 46 65 D. W. Griffith s 9% Elgin Motor Car 3% 4% Federal Fin. Cos. pfd 7fi 86 Fed. Fin. Cos. com 123 129 Gt. Sou. Prod- & Ref....... 5 6 Indiana Rural Credits 50 60 Metro. 5-50 c Stores com 7 10 Mero. 5-50 c Stores pfd 24 29 National Underwriting 3% 5 llauch & Lang Units 40 48 Rub.-Tex. Units 15 18 U. S. Automotive Units 79 80 U. S. Mtg. Cos. Units 150 162 BANK STOCKS. Commercial Natl. Bank .... 71 81 Continental Natl. Bank 109 116 Indiana Trust Cos 175 390 Indiana Natl. Bank 258 268 Merchants Natl. Bank 280 Natl. City Bank 105 110 Security Trust Cos 130 State Savings and Trust.... 92 97 Wash. Bank and Trust C 0... 150 ( ... CHICAGO PRODUCE. CHICAGO, Dec. 13.—Butter—Receipts, 8.905; creamery extras, 45c; firsts, 35%@ 43c; packing stock, 23@25c. Eggs—Receipts, 4,000 cases; current receipts, 46@ 4Sc; ordinary firsts, 43@45c; firsts, 50c; checks, 28@30c; dirties, 30@32c. Cheese— Twins, new, 19%c; daisies, 19@19%c; Young Americas, 20e; longhorns, 20c; bricks, 17@18c. Live poute^y—Turkeys, 37c; chickens, 18c; springs, 21c; posters, 15c; geese, 20c; ducks, 25c. Potdsos— Receipts, 35 cars; Wisconsins, $1.65@1.?3 per 150-lb. bag Michigans, $1,[email protected]; Red Rivers, [email protected], _ _

SLUMP TOUCHES GRAIN MARKET Fear of Favorable Crop Reports Grips Operators. CHICAGO, Dec. 13.—Wheat prices slumped on tho Chicago Board of Trade today. The decline was chiefly due to fear on part of operators of a favorable crop report. Corn and oats opened lower, due to a wave of selling, but made some recoveries later. Provisions closed irregular. December wheat opened %c at $1.09% and closed lc lower. May wheat was %c off at the opening at $1.12% and closed off %c. July wheat was off %c at the opening at $1.02 and later dropped %e. December coin opened off %e at 47%c and closed off %c. May corn opened at 53%, off %e, and closed up l%c. July corn opened at 54%c, off %e, and closed off %c. December oats opened at 32e, off %c, and closed unchanged. May oats opened at 37%e, off %c, and closed off %c. July oats opened at 3S%c, off %c, and closed up %c. (By Thomson & McKinnon) —Dec. 13Wheat —Complaints of drought ,in the Southwest are again becoming prominent, but this is reflected only in relative firmness in the July delivery. The market, as a whole, is dominated by the heavy accumulations of United Skites and Canadian wheat, not only that shown in the visible supply figures but also other liberal amounts at various points not included in visible supply compilation. Cash wheat is not in geol demand. Minneapolis and Winnipeg are quoting premiums materially lower than a week or ten days ago. Deliveries in this market on December contracts are not being taken by shipping interests. Toward the last the seaboard intimated export business of around a million bushels not stating what kind of wheat, It will be necessary to continue export business at this rate for a considerable time if the present load upon the market is to be lightened. The Argentine crop should commence to be offered more freely, l’revious estimates of surplus are being repeated. showing an aggregate of old and new crop somewhere around 150,04)0,000 bushels. It is very commonly believed that the crop report showing final yield will be revised upward, to make the acreage correspond with census returns. Inasmuch as the market is laboring under a heavy hedging load, it follows that the trend of prices will be dependent upon the amount of export trade. I’rivate cable from London quotes the market as demoralized, owing to pressure of Argentine wheat. Corn and Oats—Weakness in wheat had been reflected in corn and oats, further than this the present movement of corn is larger than market can conveniently absorb. It is claimed that the export business is restricted by the scarcity of immediately available tonnage. These markets may sympathize moderately with further decline in wheat, but we deem it ill-advised to participate in a downward action, believing that the remote future promises u better outlook. I’rovisions—There was scattered selliug in provisions under tho influence of wheat. On decline packing interests appeared as buyers. The general tone of the market was firm, although the volume of trade small. CHICAGO GRAIN TABLE. —Dec. 13WHEAT— Open. High. Low. Close. Dee 1. W% 1.09% 1.07% 1 08% -May..., 112% 112% 1.11% I.ll‘h CORN-"’ IX ~ J,rJ ’ 8 101 101 ’* -May 53% .&% .52% .54% OAxt" % Dec 52 .32% .31% .32 May.... 3* **4 .J< % .31 % .37% 1 July 38% .38% .37% .38% FORK * 4 | •Jan 14.00 LARD— Jan 8.67 8.67 8.57 8.60 May.... 9.92 9.05 9.00 9.00 RIBS Jan 7.50 7.55 7.50 7.50 May.... 7.87 7.87 7.77 7.80 RY8 — Dec 82 .82 >1 .91% May I*o .St*> .87% .88% •Nominal. CHICAGO CASH GRAIN. CHICAGO, Dec. 13—Wheat—No. 3 northern spring dark, $1.18; No. 3 mixed. M 11%. Corn —No. 2 mixed, 47%®48%c ; No. 2 white, 45%@48%c; No. 2 yellow, 47%@48%c; No. 3 mixed, 45%®.1ic; No. I 3 white, 45%t47e; No. 3 yellow, 46® i 47%< ; No. 4 mixed and No. 4 whit**, 45L. ’ @46%c; No. 4 yellow, 45%@46c. oats "j No. 2 white, 35%@36c; No. 3 white. 33%£5 35c; No. 4 white, 32%@32%c. TOLEDO GRAIN PRICES. TOLEDO, Dec. 13.—Wheat—Cash, 1 $1.16%@1.19%; December, $1.16%; May, $1.24; July, $1.07. Corn Cash, 544i55c. Oats—Cash. 39@41c. Rye—Cash, S6c. Bar--ley—Cash, 63c.

PRIMARY MARKETS. • (By Thomson & McKinnon.) —Dec. 13. —RECEIPTS— Wheat Corn Oats St. Joseph .... 14.000 41,000 2,000 Chicago 32,000 1,010,000 197,000 Milwaukee 4,000 134,000 49.000 Minneapolis ...321.000 40.000 74,000 Duluth 141,000 49.000 2,000 St. Louis 41.000 33,000 48,000 Toledo 10,000 33,000 6,000 Detroit 12,000 14,000 14,000 Kansas City ..236,000 71,000 2,000 Peoria 194.000 68,000 Omaha 22,000 113,000 16,000 Indianapolis 1,000 112,000 14.000 Totals 835,000 1,944,000 492.000 Year ago ..1,412,000 670,000 537,000 —SHIPMENTS— Wheat Corn Oats St. Joseph .... 19,000 17.000 2,000 Chicago 18.000 182.000 133,000 Milwaukee .... 1,000 59,(Km) 27,<>00 Minneapolis ... 68,000 97,000 . 81,009 Duluth 169,000 145,000 St. Louis 67,000 111.000 69.000 Toledo 1.000 2,000 Detroit 2,000 4,000 Kansas City ..131,000 55,000 31,000 Peoria 1,000 84,000 16,000 Omaha 22,000 120,000 8,000 Indianapolis 20,000 12,(W0 Totals 456,000 755,000 530,(W0 Year ago .. 953,000 270.000 423,000 —CLEARANCES— Wheat Corn Oats Philadelphia 17,(MW New Orleans 69,000 10.000 Totals 86.000 10,0(9 Year ago ....588,000 270,000 30,000 INDIANAPOLIS CASH GRAIN. —Dec. 13Bids for car lots of grain and hay at tho call of the Indianapolis Board of Trade were: Wheat—Steady: No. 2 red, [email protected]. Corn —Easier; No. 3 white, 49%@50!4c; No. 4 white, 47%@49%c; No. 3 yellow. 49%@50c; No. 4 yellow, 47@48%0; No. 3 mixed, 48%@49c; No. 4 mixed, 47@48e. Oats —Steady; No. 2 white, 36%@37c; No. 3 white, 35@35%c. Hay—Steady; No. 1 timothy, $17.50@15; No. 2 timothy, [email protected]; No. 1 light, clover mixed, $16.50@17; No. 1 clover, sl9 @2O. —lnspections Wheat—No. 2 red. 2 cars; No. 4 red, 1 oar; sample, 2 cars; total, 5 cars. Corn—No. 1 white, 1 car; No. 3 white, 5 cars; No. 4 white, 14 cars; No. 5 white, 5 cars; No. 6 white, 1 car; No. I yellow v 3 oars; No. 2 yellow, 6 cars; No. 3 yellow. 8 cars; No. 4 yellow. 21 ears; No. 5 yellow, 41 cars; No. 6 yellow. 17 cars; No. 3 mixed, 8 cars; No. 4 mixed, 12 cars; No. 5 mixed, 4 cars; No. 6 mixed, 2 cars; total, 148 cars. * Oats —No. 3 white, 6 cars; No. 4 white, 4 cars; total, 10 cars. Hay—No. 2 timothy, 3 cars; No. 3 timothy, 1 car; total, 4 cars. HAY MARKET. The following are the Indianapolis prices for hay by the wagon load, delivered : _ Hay—Loose timothy, $16@1"; mixed hay, $15@16; baled hay, $16@17. Oats—Bushel, new, per bushel, 32@35c. Corn—Old, per bushel, 55@60c. WAGON WHEAT PRICES. Indianapolis flour mills and elevators today are paying $1.14 for No. 1 red winter wheat; $1.12 for No. 2 red winter wheat and according to test for No. 3 Oats are quoted at 25c for No. 3 white or better,

SWINE VALUES AGAIN LOWER Cattle Prices Steady tc 25 Cents Down—Veals Off. RANGE OF HOG PRICES. Good Good Good Dec. Mixed. Heavy. Light. 6. s7.2s<gT 7.40 $7.15 $7.40@ 7.50 6. 7.15® 7.40 7.15 7.35® 7.50 7. 7.35® 7.50 7.15® 7.25 7.50® 7.65 8. 7.10® 7.25 7.00® 7.10 7.50® 7.65 9. 7.35® 7.65 7.25 7.65® 7.85 10. 7.75® 8.00 7.25® 7.33 Aoo® 8.25 12. 7.50® 7.65 7.15® 7.25 7.75® 7.85 13. 7.15® 7.40 7.00 7.50® 7.65 With another large run, other markets lower and not the activity locally that there was on the market of the previous day, swine prices were 10 to 23 cents lower in trade on the local live stock exchange today. Heavy swine were around 10 to 15 cents lower, lights about 20 cents lower and mixed and light mixed around 20 to 23 cents lower. Receipts for the day ran close to 12,500 more swine than were handled on the market of the day before. Tho market was decidedly a traders market, every buyer taking swine at what he could get than for na schedule being in use. There was some better activity among the shippers than cn the previous market. Light swine brought [email protected], with a top of $7.75. Heavy hogs brought 87. with a few at $7.19, mediums around $7.25 and mixed and light mixed $7.35® 7.59. The bulk of the sales for the day ranged at [email protected]. There was also another large run of cattle and, with packers and other buyers active, prices were steady on good to choice stuff to 25 cents lower on other grades. There were 2,500 cattle on the market. This was an increase in receipts over the previous day of 500 cattle and is the largest run that this market has seen for several months. Stronger prices during the past week and more, coupled with strikes elsewhere, wits said to be the cause of larger receipts here. Strikes elsewhere is throwing more work on local packers, and. with this added work, they are able now to handle more cattle from tue local market than they have for some time past. Up to a week ago packers were shipping in cattle from other markets of the country, principally Cincinnati and Louisville. Veal prices were generally 50 cents lower, with receipts around 700 and some of the shippers with Eastern city connection in possession of some orders. There was a top of sl2 on choice veals, while the bulk of that grade brought [email protected]. Mediums brought around $8.50 @l9. good slo@ll and other grades ss@B. Sheep were steady and lambs 25@50c lower, with receipts light, prices of lambs on other markets lower and the demand here good. There were about 300 sheep and lambs ou the market.

HOGS. Best light bogs, 150 to 180 lbs average $ 7 50®. 7.05 Over 300 lbs 6.75® 6.85 130 to 300 lbs 6.85® 7.65 Sows 4.75®’ 6.00 Stags 4.00® 4.50 Best pigs, under 140 1b5..... 7.50® 7.75 Bulk of sales 7.15® 7.50 CATTLE. Trime corufed steers, 1,300 to 1,800 lbs 7.30@ 9.50 Good to choice steers, 1,200 to 1/500 lbs 6.25® 7.25 Good to choice steers, 1,100 to 1,209 lbs 5.50@ 6.50 Good to choice steers, 1,900 to 1.100 lbs 5.00® 5.50 Common to medium steers, 800 to J,OOO lbs 4.75® 5.00 Choice yearling steers 8.50® 9.50 —Heifers nnd Cows— Good to choice heifers , 6.50® 7.75 Medium heifers 4.75®} 5.75 Common to medium heifers.. 4.00® 4.50 Good to choice cows 3.50® 5.50 Fair to medium cows 2.00®. 3.25 Cutters 1.50® g,25 Canncrs 75® 1.50 —Bulls— Good to choice butcher bulls 3.50® 4.50 Bologna bulls 3.00® 3.50 Light bolonga bulls 2.50® 3 00 Light to common bulls „ 2.26® 2.50 —Calves— Choice veals + 11.00® 12.00 Good veals [email protected] Medium veals B.oo® 9.50 Lightweight veals 6.50® 8.00 Common heavyweight veals.. 5.00® 6.50 —.Stockers and Feeders— Good to choice steers, under 800 lbs 4 50® 4.75 Medium cows 2.00® 3.50 Good cows 3.50® 4.25 Good heifers 5.0t*®6.50 .Medium to good heifers 4.00® 4.75 Milkers 37.00®75.00 —Sheep and Lambs— Ewes I.oo® 3.00 Bucks 2.00® 2.50 Choice lambs [email protected] Seconds 6 00@ 7.50 Buck lambs 5.50® 6.50 Culls .. 3.50® 5.50

Other Livestock

CHICAGO, Dec. 13. —Hogs—Receipts, 53,90; market steady to 10c lower: mostly steady; bulk of sales. [email protected]; top. $7.49: heavies. [email protected]; mediums, $6.80 @7; lighls, $0.95® 7 30; light lights. $7.25 ft; 7.40; heavy packing sows, smooth. $5.50 ft; 6.40; packing sows, roughs. [email protected]; pigs. [email protected]. Cattle—Receipts. 11,000; ! market generally steady; veal calves. 20c I higher. Beef steers —Choice and prime, [email protected]; medium and good, $6.55*19.75; good and choice. [email protected]. Buteher cattle—Heifers. [email protected]: cows, $3.40@ 6.50; bullß, [email protected]. Oanners and cutters, cows and heifers. [email protected]; canner steers, [email protected]; veal calves, [email protected]; feeder steers. [email protected]; stocker steers, [email protected]; stocker cows and heifers. s3@s. Sheep and lambs—Receipts, 14,000; market, sheep and feeders, steady; fat lambs and yearlings, strong to 25c higher; good to choice lambs, [email protected]; cull and common lambs, $7.75@11 ; yearling wethers. $7.25@10; ewes. [email protected]; cull and common ewes, [email protected]: feeder lambs, $8.75® 10.25. EAST BUFFALO, Dee. 12.—Hogs—Receipts, 17.600; market active: yorkers, $S @8.25: lugs, $8.25®8.50; mixed, $7.90@8; [email protected]; roughs, [email protected]; stags, $4.50 @5. Cattle—Receipts, 375; market slow. Calves —Receipts, 2,200; market slow; cull to choice, ss@l3. Sheep and lambs—Receipts. 15,000; market slow; choice lambs, [email protected]; cull to fail*. $7(g11.25; yearlings, $S@lO; sheep, $2®6.50. CLEVELAND, Dec. 13.—Hogs—Receipts. 2,500; market steady to 25c lower; yorkers. $8.25; mixed and mediums, $7.75; pigs, $8.25; roughs, $6; stags, 4. Cattle —Receipts, 150; market steady; good to choice steers. sß@9; good to choice heifcsr, [email protected]; good to choice cows. $4 @5; fair to good cows. s3@4: common cows, s2@3; good to choice bulls, $4.50 @5.50; milkers. $50@90. Sheep and larahs —Receipts, 1,000; market strong; top, $12.25* EAST ST. LOUIS, Dec. 13.—Hogs—Receipts, 10,000; market steady, mixed aud butchers, [email protected]: good heavies, s7@ 7.10; roughs. [email protected]; lights, $7.24@ 7.45; pigs, [email protected]; bulk of sales, [email protected]. Cattle—Receipts, 8,000: market slow; native beef steers, s7@B; yearling steers and heifers, sß@9; cows, [email protected]: Stockers and feeders, [email protected]; calves, $5.75 @9.25; canners and cutters, $1.50@3. Sheep and lambs—Receipts, 1,400; market lower; mutton ewes, s4@7; good to choice lambs, $8@11; canners and choppers, [email protected]. PITTSBURGH, Dec. 13.—Hogs—Receipts, 1,500; market, 15@20c lower; prime heavies, [email protected]; mediums, $7.90@8; heavy yorkers, [email protected]; light yorkers, $8,[email protected]; pigs, [email protected] roughs, $5 @6; stags. [email protected]; heavy mixed, $7.50@ 7.65. Cattle —Receipts, 100; market steady. Calves—Receipts, 100; market steady; veal calves, $12.50; heavy and thin calves, ss@9. Sheep and lambs —Receipts. 1,500; market steady; prime wethers, [email protected]: good mixed, ss@o; fair mixed, [email protected]; culls and common, $2 @3; choice lambs, sl2. EAST BUFFALO, N. Y.. Dec. 13.—Hogs —Receipts, 3,680; market active; yorkers, [email protected]; pigs, [email protected]; mixed, [email protected]; heavies. [email protected]; roughs, [email protected]; stags, s4@s. Cattle—Receipts, 400; market slow; prime steers, slo® 11; shipping steers, $7.75@9; buteher grades, [email protected]; heifers, [email protected]; cows, $5.75; bulls, [email protected]; feeders, [email protected]; milk cows and spx-ingers, $40@135. Calves —Receipts, 350; market active; cull to choice, ss@l3. Sheep and lambs—Receipts. 1.600; market active; choice lambs, $12.25@ 12.60; cull to fnir. [email protected]; yearlings, s7@lo; sheep, [email protected].

Weather

The following table shows the state of the weather at 7 a. m., Dec. 13, as observed by United States Weather Bueaus; Station. Bar. Temp. Weather. Indianapolis, Ind... 29.63 37 Cloudy Atlanta, Ga 29.04 48 PtCldy Amarillo, Texas.... 30.02 44 Clear Bismarck, N. D.... 29.58 42 Clear Boston, Mass 29.40 32 Snow Chicago, 111 29.66 34 Cloudy Cincinnati, 0hi0... 29.58 40 Cloudy Cleveland, 0hi0...., 29.48 30 Cloudy Denver, Colo 29.94 54 I’tCldy Dodge City, Kan... 30.00 36 Clear Helena, Mont 30.00 42 Rain Jacksonville, Fla.. 29.80 50 PtCldy Kansas City, M 0... 29.82 48 I’tCldy Louisville, Ky 29.70 40 Clear Little Rock, Ark... 29.50 52 Clear Los Angeles, Cal... 30.0S 50 Clear Mobile, la 29.88 54 Clear New Orleans, La... 29.94 50 Clear New York, N. X... 29.48 32 Cloudy Norfolk. Va 29.44 42 Cloudy Oklahoma City 29.96 48 Clear Omaha, Neb 29.78 42 • I’tCldy Philadelphia, Pa... 29.50 34 Snow Pittsburgh, Pa 29.44 32 Snow Portland, Ore 30.30 46 Cloudy Rapid City, S. D... 29.78 62 Clear Roseburg, Ore 30.26 46 Rain San Antonio, Texas 29.92 50 Clear San Francisco, Cal. 30.16 48 Clear St. Louis, Mo 29.78 44 Clear St. Paul, Minn 29.80 70 Cloudy Tampa, Fla 29.88 62 Clear Washington, D. C. 29.44 34 Snow WEATHER CONDITIONS. Since Monday morning the disturbance centered over Manitoba has moved rapidly southeastward to the Atlantic coast, accompanied by precipitation al lg its path, and another disturbance bar. advanced southeastward to Saskatch ;wan. It is colder in northeastern section*, but warmer from the upper Mississippi and middle Missouri valleys southward, while Chinook conditions continue along the eastern slope of the Rockies. The readings over the Northwest are considerably above the seasonal average. —lndiana Highways— Highway conditions are better now than during the past two weeks* Improved roads are in mostly good condition, while other highways are in good shape for the season, although rough and muddy stretches remain. J. H. AR.MINGTON, Meteorologist, Weather Bureau.

In the Cotton Market

NEW YORK, Dec. 13.—Notwithstanding the shock produced by yesterday’s big Government crop estimates, the cotton market today presented a steady undertone, with first prices 4 points higher to 9 points lower. Outside selling pressure failed to materialize and with cables better than due, yesterday's short sellers were inclined to cover. After the start the market wa* active but generally steady. New York opening cotton prices: December, 17.10 c; January, 17.10 c; March, 17.08 c; May, 16.94 c; July, 10.00 c; October, 16.00 c. The market showed a bettor tone towards the close. The final tone was firm at a net decline 0/ 5 points to a net advance of 19 points. —Cotton Futures— Open High Low Close Jan 17.10 17.29 10.80 17.20 March 17.08 17.26 16.85 17.21 May 16.94 17.13 16.85 17.05 J’ltly 16.60 16.78 16.37 16.75 Oct 16.00 16 10 15. S3 16.08 Dec 17.40 17.40 10.99 17.35 ■ —Cotton Review— NEW YORK, Dec. 13.—Today’s market was still under the influence of yesterday’s Government report and the only reason why fluctuations were not more violent, was because the public interest wag not very extensive. Ever since the ginning reports have been published, which indicated clearly the early underestimate of the eroi', there has been constant liquidation of contracts as well as spot holdings. And, at tue present time there Is nothing in the situation to warrant anv renewed public interest. Therefore, it is more than likely that on bulges there will be a supply of contracts from longs, and we can expect no important buying until anew incentive has been created. We anticipate continued irregularity, with the probabilities of a lower price level. LIVERPOOL. Dec. 13.—Spot cotton was quiet in trade on the market here today. Prices were easier and sales around s,t*G bales. American middlings, fair. 13.22d: good middlings, 11.47d: full middlings, 11.07d; middlings. 10.67d ; low. 9.67d; good ordinary. 8.02d; ordinary, 7.17d. Futures were quiet.

WHOLESALE FEED PRICES, Ton Cwt. Acme Bran $30.00 $1.55 Acme Feed 30.00 J. 55 I Acme Middlings 30.00 1.70 I Acme Dairy Feed 44.00 2.35 ! E-Z-Dairy Feed 35.00 1.80 Acme 11. & M 32.00 1.05 C O. &B. Chop 25.25 1.45 Acme Stock Feed 28.25 1.45 Acme Farm Feed 32.00 1.65 Cracked Corn 30.00 1.55 Acme Scratch 35.00 1.80 2-Z-Scratch 32.50 1.65 Acme Dry Mash 43.25 320 Acme Hog Feed 38.25 1.95 Ground Barley 37.75 1.95 Ground Oats 32.25 . 1.70 Flomlick Yellow 29.25 1.55 Rolled Barley 37.75 1.95 Ground Oats 32.25 1.70 Rolled Barley 37 75 J. 05 Alfalfa Mol 33 00 1.70 Cottonseed Meal 48.00 2.45 Linseed Oil Meal 50.00 2.55 Chick Mash 45.25 2.30 Tankage 55.50 2.90 Meat Scraps 80.00 4.50 D Light Scratch 36 00 1.85 INDIANAPOLIS PRODUCE. Butter —Local dealers are paying 41@ 42c per lb. for butter delivered in Indianapolis. Eggs -Loss off. 50c. Butter—Packing stock, ISc. Joultry—Frnvls, 17@ 23c; springs. 20c; cocks, 10@l2e; stags, 12@13c; young hen turkeys, S Its. and up. 33@38c: young tom turkeys. 12 lbs. aud up. 35@38c; old tom turkeys, 30c; cull thin turkeys not wanted; ducks, 4 lbs. and up, 17c; spring ducks, 3 lbs. . and up. 17c: geese, 10 lbs. and up, 15c; rabbits, drawn, per dozen, $2; squabs. 11 lbs. to dozen. $5; young guineas, 2-lb. size, per dozen, $7@S; old guineas, per dozen, $5. Butterfat—Local dealers are paying 42c per pound for all butterfat delivered in Indianapolis. TOLEDO SEED PRICES. TOLEDO, Dec. 13.—Ooverseed— Cash, December and February, $12.80; January and March, $12.75; April, $12.35. Alsike— Cash and December, $11; February and March, $11.25. Timothy - —Cash and December. $3.10: January? $3.15; February, $3.20; March, $3.25. CLEVELAND PRODUCE. CLEVELAND, Dec 13. —Butter—Extra, in tubs. 51 %@s2c: prints, 52%@53c; extra firsts, 50%® 51c: firsts, 49%@50c; seconds, 41%@42c; packing stock, 28@29c. Eggs— Fresh gathered, northern extras, 61c; extra firsts, 60c; Ohio firsts, new cases, 57c; old cases, 56c; western firsts, new cases, 54c. Poultry—Live, heavy fowls, 22@24c; light. 16@lSc: spring culls, 16@ 18c; spring ducks. 25@27e; turkeys, 39c. WHOLESALE BEEF PRICES. The following are today’s wholesale prices for beef outs as sold on the Indianapolis markets of Swift & Cos.; Ribs —No. 2,22 c: No. 3,18 c. Loins —No. 2, 25c; No. 3,22 c. Round—No. 2,15 c: No. 3, 12%c. Chucks—No. 2,10 c; No. 3,9 c. Plates—No. 2, *o; No. 3, Sc. NEW YORK PETROLEUM. NEW YORK, Oec. 13.—Petroleum prices were steady in trade on the market here today, Pennsylvania crude selling at $4 per barrel. NEW YORK TURPENTINE. NEW YORK, Dec. 13.—Turpentine sold at 81c per gallon on the market here today, BACK TO SIDE SADDLE. NEW YORK, Dec. 13.—A census taken on the bridle paths of Central Park showed that American girls are following the action of their English sisters—they are using the side saddle in preference to the man's saddle. 10,000 GIVEN NEW GACES. LONDON, Dec. 13. —The wonders accomplished by plastic surgery are revealed In a survey showing that out of 10,000 soldiers treated for facial injuries following the wrr less than a score are regarded as incurably disfigured.

DOLLAR RAILS j DECLINE ON j FOREIGN MART General Tone of Trade in Stocks on London Exchange Is Buoyant. EUROPEAN RAILS EASY Special to Indiana Daily Times and Philadelphia Public Ledger. LONDON, Dec. 13.—The satisfactory outcome of the Washington conference and the state of the exchange market served to give a buoyant tone to the opening of the stock market yesterday. The bulk of the turnover was confined to the Gilt Edged market, although some activity was shown in oil shares and industrials. Ail issues in the Gilt Edged market responded to the stimulus and gains were noted. Foreign bonds were marked by rises in French and German issues. An improving tendency obtained In home rails, but dollar rails fell away and foreign rail issues were easier. Oil shares ivere liberally traded in. A drop in gold prices created some dullness i nthe mining market, but Americans were steady. A -glut of loanable money in Lombard street served to depress discount rates. Day to day money was 3 per cent, fixtures 3% per cent and weekly inonev 3 per cent. Bar silver fell to 35%d and to 35d for spot and forward. —Copyright 1921, by Public Ledge rCompany. FRATERNITIES WILL PROMOTE SCHOLARSHIP Publication of Student Record Expected to Stir Competition. NEW YORK, Dec. 13.—Columbia University has enlisted its fraternities to promote scholarship among its 2,000 undergraduates. Fraternity rivalry for scholastic honors will be stimulated by semi-annual publications of relative academic ranl: { The record of each fraternity will be disclosed nnd, according to Dean Herbert E. Hawkes of Columbia College, it is hoped to arouse keen competition among the many fraternities which flourish at Columbia for primacy in classroom and laboratory. Beta Sigma Rho was the banner fra-; ternity during the academic year 1920* 1921, it is revealed by the first announcement, just made, of fraternity standing. Phil Epsilon Pi is second, Sigma Alpha Mu third nnd Sigma Alpha Epsilon fourth. ; PROMINENT NAMES ON LIST.

Some of the leading national fraternities are well down in the list. Alpha Deltl Phi, on whose rolls have been such names as James Russell Lowell and Joseph 11. Choate, is fifteenth. Delta Kappa Epsilon, whose membership also con-, tains names of great distinction, is seventeenth* Psi Upsilon, another of the great fraternities, twenty-eighth. President Nicholas Murray Butler is a member of the Columbia chapter of this fraternity. Delta Psi is twenty-ninth. The completa standing of the fraternities follows: Beta Sigma Rho, Phi Epsilon Pi, Sigma Alpha Mu, Sigma Alpha Epsilon, Tau Epsilon Phi, Tau Delta Phi, Omicroa Alpha Tau, Zeta Beta Tau, Delta Phi, Phi Gamma Delta, Alpha Phi DePa, Pi Lambda Phi, Phi Sigma Delta, Phi Beta Delta, Alpha Delta Phi. Sigma Chi, Delta Kappa Epsilon, Beta Theta Pi. Delta Tau Delta, Kappa Nu. Alpha Sigma Phi, Theta Xi, Phi Sigma Kappa, Alpha Chi Rho, Phi Delta Theta, Phi Kappa Psi, Theta Delto Chi, Psi Upsilon, Delta Psi, Phi Kappa Sigma, Sigma, Xu, Delta Upsilon and Zeta Psi. ADVOCATES FRATERNITY LI FE. Dean Hawkes. who is an advocate of fraternity life, in which he sees much of profit both to the university and the student body, cays the publication of the list is part of a constructive plan to enhance the usefulness of universities and make them a more powerful agency of college life. The fraternities are cooperating with the college authorities in developing the plan. Each fraternity is taking tip the question of scholarship with the purpose of impressing the necessity of paying greater attention to college work not *n)y upon the freshmen ifnd sophomores, but upon the upper classes. The academic records of the fraternities, It was stated, will be published at the end of each semester. The experiment is being watched with great interest, at Columbia. Suit Charges Board Acted Arbitrarily A suit asking that a restraining order be issued against the city of Indianapolis. the board of public works, the city civil engineer, tho chief of police and other officials, to prevent the city from interfering with the proposed building of a private roadway from East Twenty-Eighth street to a garage on land owned by the Jose Baiz Company of Indianapolis, today was filed in the Circuit Court. It is alleged that the board of tvorks has “arbitrarily and without cause” re 4 fused to issue a permit to the plaintiff company to construct the driveway. 3 Killed, 1 Hurt When Locomotive Hits Auto CLARKSDALE, Miss., Dee. 13.—J. L. Robertson, Greenwood. Miss.: Louis Romonolo, Clarksdale. and Jack Givens, Clarksdale, were killed and J. I’. Shipp of Helena, Ark., was seriously injured today when a Yazoo & Mississippi Valley locomotive backed into an automobile driven by Givens.

INDIANA OAIinSIES CO, 5% First Mortgage REAL ESTATE BONDS Due December 20, 1928 To Yield 6% NEWTON TODD 415 Lemcke Building

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