Indianapolis Times, Volume 34, Number 190, Indianapolis, Marion County, 20 December 1921 — Page 12

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STOCK MARKET STEADY IN TONE AS SALES LOWER $30,000,000 in Danish Bonds, Successfully Floated, Attract Attention. ’CHANGES STRENGTHEN Special to Indiana Daily Times and Philadelphia Public Ledger. By MONITOR. NEW YORK, Dec. 20.—Trading in stocks fell off to moderate volume, but the undertone of the market was steady to firm, with tlie exception of industrials, particularly recently active specialties in which profit-taking made its influence felt. The market has been going through this process almost daily for the last two or three weeks, and about the only special feature of today s trading was represented by the fact that the standard rails were relatively stronger than the industrials as a whole. This observation, of course, does not apply in the case of anew group of specialties that went through the process of bullish exploitation. This list included May Department Stores, Cosden, American Cotton Oil and Keystone Tire. Various explanations were forthcoming for the strength in the rails, aithougti none of them was taken seriously. It seems probable that their technical position was sufficiently strong to warrant bullish activity by some of tbe local professionals. The general news items this attracted the most favorable attention consisted of the announcement of French compliance with the naval ratio and the successful sale by Denmark of $30,000.0(H) of twentyyear 6 per cent bonds. The transaction had a most stimulating effect on Danish xchange, as Copenhagen bills were up 100 points over Saturday's quotations. Other exchanges were stronger.—Copyright, 1921, by Public Ledger Company. WALL STREET GOSSIP BY MONITOR. Specialties again dominated the trading in the market. One of the notalde features of the day was May Department Stores, which advanced eight points to anew high record for the present movement at 114. Not all of this gain was field to the close. There was a story in circulation that a 25 per cent stock dividend is to be authorized, but no official confirmation was obtainable. Burns Brothers was another specialty which attracted attention when the price advanced to 121. Strength in this issue has been coincident with excellent inlying of B. L. A W. Plans are being discussed whereby Burns Brothers and the Farrell Coal Company, when, merged, will handle the output of the Lackawanna Coal Company, which has been segregated, oa paper at least, from the B. L. & W. There was vigorous bidding for Texas Gulf Sulphur during the last hour of trading. When this issue was listed recently, traders did not think the time propitious for au advance and sold the stock short. In addition, there was a ■tale short interest from the outside market when the stock was taken to tile log board. These shorts became restless when large buying orders for important banking interests made their appearance with the resultant advance in price. Market comment frequently has called attention to the difficulty in writing es llie market as a whole. Divergent movements occur not only in groups, but in the individual stocks of the same gr up This was exemplified by the strength in American Locomotive and Baldwin Locomotive, and the weakness in Lima Locomotive. The hitter has had a large advauce an.l strength in the other locomotive stocks is used to sell Lima Locomotive*.

For som<> months it has twv'n reports that Important bnying is groin;: On in Am*ricati Lo<*Giiiotiv\ These jmr<*ii wore generally believed to aggn-gate two shares ami the stock taken from the marker. It is reported that tlie General Electric Company was the buyer ot this stock, and will <• ass. dated "ith American Locomotive Com] any iu some pending contracts for building electric locomotives. Altbongh off dal denial was made that the Computing, Tabulating and Recording Company s to absorb the cash roaster business of the American Can Coinpanv and Gie National Cash Register Company the stoek was strong. Firm* which have h en large buyers declare that the earnings and inventory position of the company is sufficient warrant for the recent advance and for higher prict While the motors generally were strong. Ajax Tire and Rubber made anew low for the year, when transactions were recorded at 10. The recently announced financing and the offering of 200.000 shares of stock has brought some liquidation Into the market. For the first time in the history of th° road, the Canadian Pacific will make an offer cf J25.00U.000 of 4 per cent debenture stock in this marker. All other debenture issues of this company heretofore have lecn placed in London. There arc said to be no less than seven foreign loans awaiting placement here with the turn of the year. Several of these are for countries which always have sought ao-, commodatio..s in foreign markets. There was the same excellent character of buying in the high-grade rails that has been in evidern * recently. Northern l’aeifie. Great Northern preferred. I nited Pacific. Southern Pacific and Atchison all are being taken by firms often acting for powerful banking groups. Firms si*eiaiizing ill the rail stocks express the opinion that sometime before the Interstate Commerce Commission reassembles Jan. 9, the latent short interest iu these stocks veill be driven to cover. In the Cotton* Market NEW YORK. Dee. 20.—Tlie cotton market opened firmer today at advances of 3 to 32 points on further short selling and buying by wire houses. There was a good deal of profit taking which was well i sorbed. tno Census ltur an figures on ginning were about as expected. „ New York opening cotton prices: December, 18.70 c: January. 18.48 c; March. to-Xic: May, 17.87 c; July, 47.43 c; October. l&S2c. The market as easier in the late afternoon, closing a - a net decline of 17 points to a net advame of 2 points. —-Cotton Futures—(By Thomson A- McKinnon.! —Dec. 29Open. High. I,ew. Close. January 18.48 15.70 18.24 18.21 March 18.32 18.57 18.10 18.12 Mav 17.87 is.i l 17 VI 17.72 July 17.43 17.79 17.23 17.20 October 10.52 lose. ’0 03 I0'v; December 18.70 18.72 18.50 15.50 —COTTON REVIEWNEW YORK, Dec. 20. —Today, we had the census report on ginning to December 13. The figures published. 7.779.458 bales, were substantially as forecasted through private sources. In order to meet the Government estimate approximately uOo.nOO more bales of cotton will have to le ginned. This seems rather a large amount, lint there has never been any great uniformity in ginning and tlie Government estimate will be safe guide until it has been proven erroneous. After the report was out there was a final wave of short covering. This dewas soon filled and cotton was sale more freely than it has been time this week, with prices delast night's finals. We expect a continuation of just such fluctuations as you have been witnessing, with no very definite move until wo have anew basis for it and would continue to regard the market as a trading affair. LIVERPOOL, Dee. 2<*.—Spot cotton opened steady today. Sales approximated u.obales. American iniddlin fair. 13.40t1: good middlings. ll.t'Ail: fu middlings. 11.24d: middlings. lu.'jOd; vv, 9.70d; good ordinary. 8.15d; ordis jy. 7.tod. Futures were quiet initial trade.

N. Y. Stock Exchange (By Thomson & McKinnon.) —Dec. 20— Prev. High. Low. Close, close. Allied Chemical 57% 57 .TP,,, 57% Ajax Rubber... 16% 15% 15% 16% Aljis-Chalmers.. 39 39 30 39 Am. Agri 30 29% 29% 29% Am. Beet Sugar 28% 27 !\ 27% .... Ain. B. Mag. Cos. 36% 36 3ISVi ."0% Am. Car A F. 141% 144% 114% 144 Am. Can 33% 33*4 33% 33% Am. II AL. c.. 14% 14% 14% 11% -tin. H. AL. p.. lil 00(4 61 011% Am. Ice 73% 73% 72.%. 73 Am. Inter. Corp. 4.3% 42% 42% 42% Aiu. Linseed .. 33% 33% 33% 33% I Am. Loco 101% 99'.. 99% 99% I Alll. Smelt. AR. 44% 44% 41% -11% Aiu. bug;'.' I!. . .31 % 49% .31 50% I Aei. .T. Cos. .32 k. 311.. 31% 31% I Am. Steel F. . 33% 33% 33% 3.3% I * Am. Tel. AT. .114% 114% 114% 110% I .Cm. T0bacc0...133 433 1.33 J. 92% ~111. Woolen ... Sl-% SO'-.* so% S >•% Atlantic l’ete .. 2.3% 2-3% 2-3% 23% All. Mill. Cos. 48% 4s 45% 48*4 Atchison 93% 93 93 93% At. G. AW.I. . 33% 33 .33 33% Bald. Loco. ... 97% 90% 90% 90% B. A II 3*1% 30% 3-3'4 3-3% Beth. Steel (111. .37 .30% .30% 57 California Pete. .30% 19% -30 49% Canadian T. Ry. 121% 121% 121 >1 121% Central 1 31% 30% 30% 30% Chand. Motors . -31 .30% .31 .30% C. AO. ........ *"% .30*4 .'I% >Hi% C. M. A St. I*. 19% 19 19 19% ;(' MA. St. I*. pfd. 31% 31% 31% .31% | Chicago A N. . 07% 00% 07 00% |C. R. I. AF. . 22% 32% 32% 2.2% ICRIAF 0%, pfd. 72% 72% 72% 72 CRIAP 7'. pfd 8-3 7 s I Chilli Copper... 1.3% 1-3% 1.3% 1-3% Chino Copper... 28 27 % 28 27% ! Coca Colo 40% to Ui % 40% | Col. Fuel A 1.. 20% 2.3 20% 20 I Columbia this.. 07 00% 00% 07 I Columbia Graph .3% 3% 2% 3% Consolidated G. 93% 92% 93% 93 C. C. C. A St. L. .3.3% 5,3% 53% .3.3 i Cosden Oil .... 38% 3S 2s 1 , 28% Corn Froducts 99% 97% its <97 Crucible Steel.. 07% 00 00 % 00% ' Cuban A. Sugar 13% 13% 13% 13% Cuban Cane S.. 0% 0% 0% 7 Del. A Hudson 1"7 107 107 .... Del. A Lack 118% US 118 118 Erie 10% 10% 10% 10% Endicott 80 78 7 4 79% 78% Famous Flayers 79% 77% 79 75% i l-’isk It 11b. t n... 12% 12% 12% 13% j (Jon. Asphalt... 09% 08% 08% 0,5% (Jen. Cigars.... OS os os 07 % ‘Gen. Electric ..141% 110 111 Ipi I Gen. Mo tors 1! 10% 11 10% | Goodrich 37% *' 00% 30% 30% Gt. Nor. pfd... 73% 7*3% 78% 73% tit. Nor. tire... 32 31% 31% 32 | Haskell Barker 81 79% 79% 81 111. Central 98% 9-% 95% ‘.is 7 . | luspi. Copper.. 40% 40%. 48% 41 Itiviu. till 12% 11% 12% 12 Inter. Harvest.. 82*. 83 83’ . s:;% Inter. Nickel... 12% 12% 12% 12% Inter. Paper.... .34’ • .33’ . 51% .34’% Island t>. .x T. 2% 2% 2% 2% K-S’field Tire.. 44% 43% 43% 44 Ken. Copper.... 20 2.3% 2-3% 2.3% Lack. Steel 40% 4.3% -Hi 40 Lehigh Valiev... 58% 57 4 58 58% Loews. Inc 11 It 14 13% Loft Candy .... 9% 9% 9% 9% L. A X 109% 10S% 108% 110 Marine Coin. ... 11 7 , 11% li% Marine pfd 0.3% ill’.. 0-1% 64% May Stores 11u% pis " Ins 111 Maryland 0i1... 1 2.3'. 23' . 20% Mex. Pet 113 111 ■ 11.3 11%. Miami Cooper . 27’.. 27% 27% 27% Mid. States Oil. 12 . 13% 13', 13% Midr. Steel 2s . 27% 27% 28% Missouri Par. .1, ls% 17% 17% 17% Mis. Par. pfd.... -!7 4 ’.% 46% 40% Nat. En. Sti> :. *, . 35% Nev. Cor 15 " it 7, 15 13 N. Y. Central.. 71% 7 % 71 71 New Haven ... 12% 12% 12 . 12% North. I’ac. ... 7ii% 79% 79% Pile. Oil 45., is% 45% 494 Pure Oil 3s , : s ::s ::s' s P. Am. Petro. .51 4 51% 5:. ', 53% l’enna. By. ... 33% 33% ; *3l People’s Gas .. 02 59 ” 01% 55% Pierce Arrow ..It 13 7 . 1.",% 1t P. ttil Cos V: . 1:;', 13', 13% Pli shurgh < . 0.:% Oil 7. 1 :: T . <2! I**ull. Pal. Ca r... P's % 107:4 107% p >.% By. Steel S in i : 94 Ray Copper ... 1", 15% 15% 15 Reading ....... 75 4 72 4 7.% 75% Ilepiogie S 20 25 20 R.*D. of N. Y. . 52% 5|% 51% 52 Sears Roebuck.. 57 4 50% 57 4 57% Sinclair 22% 22% 22'. 22'-. Sis. Slit'. S. A !. 3$ Its .".s' Southern Pacific s* % so Ml 4 vi% Southern 8.v.... Is% is . 7s", is", Stud. Oil t'al... 9.3% 95 , !'5% Stud. Oil N. .1. .18.54 - 185 15.5 181 L. St.L. A S.F.eoai. 21 4 21% 21", 21% Strom, t'arb 3l' . ::5 20% 31 Studebaker ... . *,1 : 4 80 % 81'. sl% Tex. Coal A Oil 29'. 2'% - 29% 29% Texas Cos 17% ;7 I7 ! 17'. Tex. A Par 20 25 25% 25 Tub Prod 03% 02 4 03 03 Trans, oil ... . 11% 1t 11% 11% Elion Oil 19% 19% 19% 19!, Eiiioti Pne. .. ...120*. 121.", 120% 120". Fnited Bet, St.. 52 7 . 52', 52' . 53V, 14 S. Food Corp in' . 1H in . 10’, I'. S. 111. Aleo. .",9% 29% 59% 59", r. S. Rubber. 50% 55% 55% 55% I'. S. Steel 84% St 81% 84 E. S. steel pfd..Hi 113% 111 113% I tali Copper 04 02% 05% 63' Van. Steel 32", 51% 51% 51", Wabash 0". 0% O' 7 Wabash Ist pfd 20 . 20' i 20'. 2"% White Oil 10", 10' 1 in", 11 Western Fnion. ‘9l I*l I*l 91"i Westing. Klee.. 50'. 5n% 50E. .30% Wh'te Motors.. 29% 38% ;%% 59'.. Willvs-Overlatul 5% 5", 5% 5 7 , Wilson ACo 5o 298, 5u 29% AVorth. Pump.. -10% -15 44 45 Woolwnrth ... 151 131 151 131 West Pile Is 18 Is 18% *Ea Division. NEW YORK LIBERTY BONDS. —Dec. 20— Prev. High. Low. Close, rinse. r. R sb'.s 95.70 95.94 92.5 * ‘33.70 L. B. 2d 4s 95 10 L. B. Ist 4%5... 90.59 95 s 1 90 5 1 '.Hi >0 L It. 2d 4%s ‘.MI 24 95 .30 95.90 90 50 I,! B 3d 4 s 97.80 97.00 97 40 97.70 L. I!. 4ili 4%5... 96.50 ‘15.70 90.38 90 92 Vietnry 3%s 100.04 100.02 11*0.*‘2 HtO.l't Victory 4%s 100.00 100.00 100.00 104.02 CHICAGO STOC KS. i By Thomson A McKinnon.) Dee. 20. — Open High Low Close Armour Lea 12% Carl*. A Carbon -114 44% 44"4 41", Libby 5% 5% 5% 5% Mont.-Ward 13' National Lea. .. 2% 2% 2% 2% Pigglv Wigglv . 29 34 29 2l*-3 Soars-Roebuck . 57% 57% . 57 57 Stewart-Warner 24 % 25% 21 Vi 2D'. Swift A Cos 97% Swift Int .21 21 20% 20% NEW YORK METAL MARKET. NEW YORK, Dec. 20.—Copper Quiet: spot. December and January. sl3. Lead —Quiet; spot and December offered. 4.Ode; January offered. 4.95 c. Spelter Quiet ; spot. December and January offered. 4.93 c. NEW YORK PETROLEI M. NEW YORK, Dee. 29.—Petroleum prices were steady in trade on tile market here today, Pennsylvania crude selling at $4 per barrel. NEW YORK HIDES. NEW YORK, Dec. 20.—Hide prices were firm on the market here today, native steer hides selling at 15", e per lb and branded steer hides at 15%e. Japanese Refuse Lean to Chinese WASHINGTON. Dee. 20. Japanese bankers have tentatively refused a loan of 10,000,000 or 11,000.003 yen to the Chinese government, the Japanese delegation was advised today from Tokio. The Chinese government sought the loan from Japanese bankers to meet pressing accounts before the end of the year. INDIANAPOLIS PRODCCK. Butter Local dealers are paying, 40/fJ 41c per lb. for butter delivered in Indianapolis. Loss off. 47e. Butter—Packing stock. 18c. Poultry—Fowls, 10@23e; springs. 19c; cocks, 114/ 12c: stags. 13c; young hen turkeys, 8 lbs. and up, 3Se; young tom turkeys. 12 lbs. and up, 3Sc; old torn turkeys, 3(V*/33c; cull thin turkeys not wanted: ducks, 4 lbs. and up, 17c: ducks. 4 llis. and up, 18c; geese. 10 lbs. and up. 10c: rabbits, drawn, per dozen. 82: squabs. 11 lbs. to dozen, $6; young guineas. 2 ID. size, per dozen, $7 <fi 8: old guineas, per dozen, $5. Bntterfat —Local dealers /ire paying 42c per pound Tor all bulterfat delivered in Indianapolis.

STOCKS SUFFER SMALL DECLINES Market Tone Is Irregular and Trading Dull. NEW YORK, Dee. 20.—The stock market closed irregular today with trading dull. Fractional /recessions occurred in most of the leading issues. The railroad stocks were fractionally lower. Government, bonds were-unchanged and railroad and other bonds irregular. Total sales of stocks for the day were 524,000 shares. (By Thomson A McKinnon.) —Dec. 20— The stock market continued io act just as it lias been doing each day recently. During the course of the market sessions some selling appears, just sufficient in volume to create a momentary reactionary appearance. Imt every little recession proves to be attractive to buyers and the result has been a session of new highs, not in tin* entire market at one time, but in particular issues that happen, to lie tin* favorites of the day. It is generally recognized here that the stock market has not been as popular as would appear from surface conditions. The fact of the matter is that a great many individual traders have not participated because of a lack of confidence in the business outlook and in the markets' stability. Many who were long of stocks have taken advantage of the recent strength to sell, but now that they are out of the market they will be just as much concerned as they have been when they were long of stocks, and we doubt very much whether they will be able to re-purchase such stocks in accordance with their ideas. They are all probably underestimating (lie strength of the market and the in - fluenee beneath it. When a market moves in one direction for a period of four months and after each reaction advances to higher prices it is time to stop thinking of it as a temporary affair. It is in every respect just what it lias shown itself to lie. a real substantial upward movement anticipating, and by degrees discounting great changes in business, in international affairs and in corporate policy. We may have some developments in Washington or elsewhere that might cr at,, some troifliie. now mid then, imt these matters will only serve to bring about reactions of a temporary character and they should lu* met. as they occur, with buying orders. TWENTY STOCK*S AVERAGE. NEW YORK. Deo. 20. —Tyent.v industrial stocks Monday averaged 89.31. off .20 per cent. Twenty active rails averaged 74.95, up .12 per cent. CLEARING HOI sE STATEMENT. NEW YORK, Dee. 20.—Exchanges, ss2U.7oi'.Oiiii; balances, $71,000.00'*: Federal Reserve Bank credit balances, $50,800,900. Money and Exchange NEW YORK, Dec. 20.—Foreign exchange opened strong today wi'li demand Sterling l%e higher at $1.21 .. Francs advanced 2 centimes to 8 81c for eabjes. and to $.12- for checks. Belgians franc cal*Vs were 7.81 c: checks. 7.vie. Marks advanced 5 points to .0057 c. Guilder cables were 30.71 c. Sweden kronen cables were 25.00 c; cheeks, 2).95c. NEW YORK CALL MONEY. NEW YORK. I*.-. 20. Money Cal! money nil and 5% per cent; high, 0 per (■■‘lit : low, 5Vi per cent. Time rates quiet, all 5/;/.31, in r c-nt. Time mercantile paper quiet. Sterling exchange was s c.idy. with business in bankers' bills at SI 21 for demand. MOTOR **::< 1 BITIK.S. ißy Thomson A McKinnon.) - Dec. 29 • gosin g Bid. A k. Earl Motors 9% lu Packard coin Y . 7% Packard pfd €6% 08 P er! 35 50 Continental Motors com 6%, 0% Continental Motors pfd 8.5 litipt* com 11 % 11% Hupp pfd 93 'is Ki o Motor Car Is .. ls% E'gin Motors ;t 3% Grant Motors l I % Ford of Canada 252 255 International Motor com 2s National Motors 1% 2% Federal Truck lti Is Paige Motors II 15 Republic Truck $ ,\% ACTIVE OIL STOCKS. (By Thomson A McKinnon.) Dec. 20. — —Opening Bid Ask Anglo-American Oil 21 21 4 Atlantic Lobes 9 , in Borne-Serymser 319 389 Buckeye Pipe Elm* 83 8.3 Che. ebroitgii Mlp. Cons 17u l'l Coiiliueiit.il Oil. Colo 120 124 Cosden Oil and Gas 0 s Crescent Pipe Line 20 29 Cumberland Pipe 13m* 115 125 Elk Basin Pete 0% 7 Eureka Pipe Line 79 83 Galena Signal Oil. Pref IUO 100 Galena-Signal Oil, Com 40 43 Illinois Fine Lint* 163 170 Indiana Pipe Line 82 ’ 81 Merritt Oil 9% 9% Midwest Oil 2% 3 Midwest Rfg 17'i 180 .' ational Trull-it 28 3(1 New York Transit 117 152 N'i rthern Pipe Line 95 100 Ohi i Oil 277 2sii Oklahoma P. A it < % 0% IVnu.-Mex 15 29 Prairie Oil find Gas 575 590 Prairie Pipe Line 38n 335 Sniuilpa Kefg 3's 8% Solar Refining 340 35n Southern Pipe Lille 7$ s;; South Penn Oil 210 220 Southwest Pena Pipe Linos .. 50 50 Standard Oil Cos. of Did >9% 9(1 Standard Oil Cos. if Ky. ... 't'.i 415 Standard oil Cos. /if Neb 175 Iss Stan/lard Oil Cos. of N. \ 375 sso Standard Oil Cos. of Ohi -109 Swan A Finch 40 .30 Vacuum Oil 315 330

NEW YORK CURD, (By Thomson A- McKinnon.) —Dec. 20— —ClosingBid. Ask. Acme Packing 35 56 Curtis Aero com I"i 3% Curtis Aero pfd 18 Goldfield Con 3 5 Martin Perry 18 19 Jlliul ii Extension 4 7 Imperial Gil (Del.) 9% 1"% Intermit. Petroleum 17 17% Niplssing 7 7% Bt:iffd. Motors •’•% 4% Sait Creek 13% 13% Tonopah Extension 19-16 1% Toiiojuli Mining 1 7-16 1 9 16 United I* S new 1%1 15-16 U. S. Eight and Heat 90 UK) U. S. Light and Ilcat pfd.... 90 95 Wright-. Martin 2 5 Yukon Gold Mine Cos 1 3.-16 1% Jerome 36 32 Now Cornelia 18% 18% United Verde 29% 30% Si inoyali 6 "mar Oil 72 73 Rep. Tire 15 25 NEW YORK RAW SUGARS. NEW York. Dec. 20. Raw sugars were sleady in trade on the market here today. Culms selling at 3.67 c per pound, duty paid, and Porto Ilieos at the same price, delivered. Refined sugars were quoted lower, both fine granulated and No. 1 soft selling nt. 5.10 e per pound. NEW YORK COFFEE. NEW YORK. Dei. 20- Coffee values were weak in trade on the market, hero today, opening option- being 5 to II points lower. Rio No. 7 on spot sold at 9%c<z9'.%(-• per pound. - NEW YORK RICE. NEW YORK, Dee. 20.—Rice values were about steady on the market hero today, domestic rice selling at 3%@7'/ic per pound. NEW YORK WOOI.. NEW YORK. Dee. 20.—-Wool prices were again steady in trade on the market here today, prices of the last week being maintained. NEW YORK TURPENTINE. NEW YORK. Dee. 20.—Turpentine sold at s2%c pier gallon on the market here today.

INDIANA DAILY TIMES, TUESDAY, DECEMBER 20, 1921.

New York Bonds (By Fletcber-Auierican Company.) ■—Dec. 20— FOREIGN GOVERNMENT BONDS. Bid. Ask. Arg. (Unlisted) os. Sept. 1, '45 73 74 Belgian Os. Jan. 1, 25 95% 90% Belgian 7%5, June 1, '45 104% 104% Belgian Bs. Feb. 1. '4l 100 vy 107 Berne Bs, Nov. 1, *45 108 109 Chile Bs, Fell. 1. *4l 101*4 102 Christiania Ss, Oct. I, '45....107 108 Copenhagen 5%5, July 1. '44. 87% 88 Danish Mun. Bs. Fell. I, "40. .107 108 Denmark Bs, Oct. 15, '45 109 HO ♦Canadian 5%5, Dec. 1, "22... 91% 92% ♦Canadian 5%5, Nov. 1, '23.. 91% 92% ♦Canadian 5%5, Nev. 1. "24... 00*% 91% ♦Canadian ss, Deg. 1, "25.... 89% 90% Canadian ss. Apr. 1, '2O 95% 96% ♦Canadian 5%5, Dec. 1, '27... 91% 93^ Canadian 5%5, Aug. 1. "29... 97 97% Canadian ss. Apr. 1, ’3l 94% 95% ♦Canadian ss. Oct. 1, 31 SS 7 , 99* < ♦Canadian 5%5, Nov. 1, 33.. 93 94% ♦Canadian 5%5. Nov. 1. '34.. 90% 91% Canadian ss. Mch. 1, '37 94 94% ♦Canadian 5%5, Dec. 1./37... 95 90'% ♦French (Viet.) ss, Opt., '31.. 00 02 ♦French 4s. Opt.. '43 49 51 French Bs, Sept, 15, *45...... 99% 100% ♦ltalian (War) 5s 35', 30% Jail (First( 4%5. Fell. 15, '25 Si % 87*54 Jap (Second) 4%5. July 10, '25 80% 87% Jap 4s, Jan. 1, ’31....: 74 7>i Norwiy Bs, Oct. 1. '4O 109 110 San Paulo B.s, Jan. 1. *3O 101 101% Swedish os, June 15. '39 '■•:>% 9b Swiss 5%5. Aug. 1, '29 95*% 90 Swiss Bs. Jtllv 1, "40 113 1H I |< s 'As, Nov. 1, "22 99% ldO I'. K. SV-.S, Aug. 1. '29 99 99'/, V. K. 5%5, Fell. 1. ’37 93*4 03% Zurich Ss, Oct. 15, '45 408 109 Brazil Bs. (i 1 1941 104 104% French 7%5, 0 1 1941 94% 9-i% Uruguay Bs. S-l-1940 :...10." 105% Argentine 7s. 10 1-1023 99% 100'% ♦lnternal loans. , CORPORATION 1 BONDS. Bid. Ask. Alum. Cos. of Am. 7s. Nov.. ’25.100% 10"% Am. Cat. Oil os. Sept. 2. '2l 93% *- > i Ani Pel Os, Oct.. "22 100% ICO Vi Am. Tel os. Feb., '2l 90% 100% Am. Thread os. Dee.. *28....Hi" 10"': Am. To!*, 7s, Nov., "23 101% 102 , Am, Toll. 7s, Nov., "23 Kilt, 102% Anaconda os, Jan., "29 9, Anaconda 7s. Jan.. "29 1"l WPn Angln-Alii. Oil 7 %'S. April, '23.103% -s;;x Armour 7s, July 15, '3O 102% 102vx Atlantic Ref. o%s. March. '31..101% I".' ■ Bell Tel. of Can. 7s. April. ’25.1(M1% 1"!',, Be til Steel 7s. Jtllv 15, '22... 100 100% Beth! Stcd 7-, July 15. '23.. .. 100 % 1"0% t'.iii Pacific Os, March 2. "24.. .lift 100% Cert Arg. Itv. os. Fell., '27.... 9"% 91 % C R l A P. (is. 45 It . '22.... 99 '. 10!) I'on Gas M. De-.. 21 Kill", !"1 Copper Exp. Bs, l-'eli. 15. '22.100% 100% Copper Exp. Ss, Fell. 15, '23.101% 102 Copper Exp. Bs, l-'eli. 15. "24.102% W3 ! Copp.-i* Exp. Bs. l-'eli. 15, *25.103% KM'.. Clidal!*' 7s. July 1-3. "23 K' ; % WIV, Fed. Sugar os, Nov.. "21 90% ‘-■ Goodrich 7s. April, 2-3 97 i Gulf Oil (is, July, "23 99 100% Gulf Oil 7s. Kel.. W3 103% Hocking Valley os. March, "21. 9. Humble Oil 7s. March 15, "23...100 10"% lilt. R. T. 7s. Sept., "21 J 2 .3% K. U. Ter. 0q Nov. 15. '23.. 99% W Kenn .Copp"r 7s, Feb., 'm I'M., - 1 "' ' Lae!-de Gas 7-. Jell.. '29 9i-| 98% Proctor VG. 7s. \l trell. 22 160% I"'% Proctor G G. 7s, Marfeli. 23 .191% 101% l*ub. S.-r. X. .1. 7s. March. '22.1"" _ Kh>% l; .1 Ri-v aolds (is. All-., "22 ..I'"’ 1"U q S.'-.r* Roebuck 7s. "el. 15. '22 309 S. ars Roebuck 7s. Get. 15. '2:'. 99", 99-, Sin i-.ir 7 1 -s. May 15. '25... 9*3 9%% Solv . , .x Cie Ss. Get., '27 102 , I- I Southern U.v. Os, March. "22... 99% 90% s. W. I' ll Tel. 7,. \PI-11. "25.1111'. 101% St-ind G il'd.i 7s. Jan.. '3l .10-' i I'Mi'i Stand!" i'n.Y.iTs. ti.. '25 '31.101% Ws% Si. Paul UI) -3%5. He-. 15, "2::. 9** • !'9% Swift 7s. Get 15. '25 !■’. W 0 % ■p ~ 7 . Marc'.i 1, "2::. ..loo' . 101' . Utah f os.‘ S t. 13 -2. . % 97* \\.... r . E.ect.-n 7s. April. '25.. 103% I<>4% West in - house 7s. Ma>', *:*.1.... IG4 , 10-*% Local Curb Market (By Newton Todd) Dee. 20 Am. Hominy coni .. '4 20 Central and Coast Gil - • ■ Uhoal* Gil Corp... .* - 1 * Columbia Fire Ins. U*> •* u'a Comet Auto _) * Day ton Rubber I nils \ Dietorgrapll Prod, pfd 4'* •'•* I*. W. GritYith s 9 y *-"!**in Motor G:tr - ; % 4% Federal Fin. Cos. pfd 70 SO Fell Fin. Cos., com. 1-.- 1--| <;t. Sou. R . Indiana Kuril! Cr-dits g' Metro. 5-Nile Stores coin >< •' r 50<* Str ♦ I***l -• National I'nderwriGng .... •”•% 5 Rauch ,X Ling I'liits 52 42 Rub. Tex. Units U I S. Automobile Units .... • *** i! S. Mtg. C ' Units HO 100 BANK BTIX 1.8. Commereial Natl. Rank .... 71 $1 Continental Natl. Bank l'J9 HO Indiana Trust Cos 199 Indiana Natl. Bank -•' s -3S Merchants Natl. Bank 2so Nall. City Bank 1"-5 11" Security Trust Cos. 15" • - State Savings and Trust .. . 92 97 Wash. Bank and Trust C 0... 15" ....

Weather The following table shows the state of the v.cather at 7 a. in. lb -. as observed by I . S. W -ather lturca Station. Bar. Temp. Weather. Indianapolis. Ind.. . . 30.2.3 35 ( loudy Atlanta, tin 30.3S II Cloudy Amarillo. Texas... 30 14 ill Cloudy Bismarck. 1>.... 30. st! U Char Boston Mass 50.11 21 I’tOldy Chicago. 11l 30.22 31 Clear Cincinnati, Ohio .. 30.30 3o Cloudy Cleveland. Ohio ... 30.20 2S Clear Denver. Colo 50.30 18 Snow Dodge fitv. Kan... :io.4<i 18 Cloudy Helena. Mont 30 01 11 Cloudy Jacksonville. Fla... 30.32 7iO GHuuly Kansas City, M 0... 30.20 28 Cf.-nr Louisville, Ky 30.20 II Cloudy Little Rock, Ark... 30.90 58 Rain Mobile, Ala 30.30 50 Cloudy New Orleans. La... 30.30 01 Cloudy New York. N. Y... 30.41 32 Clear Norfolk, Va 30.42 42 Clear Oklahoma City 30.22 39 I’tCldy Omaha. Neb 30.48 10 Cloudy Philadelphia. Pa... 30.40 30 Clear Pittsburgh, Pa 50.32 30 Clear Portland. Ore 29.98 22 Cloudy Rapid City, S. 1>... 30.70 s Cloudy Koacburg, Ore 29.70 21 Cloudy San Antonio, Texas 30.18 o*l Cloudy San Francisco, Cal. 29.02 .52 Rain St. Louis, Mo 30.20 42 Clear St. Paul. Minn 29.14 8 Cloudy Tampa, Fla 30.30 02 Cloudy Washington, D. C. 30.44 32 Clear IV K A TIIE K CONDITIONS, The Western rainstorm lias remained nearly stationary over the Pacific coast, while precipitation in the form of snow extends thence norllicastward across the middle Rockies to the northern Lakes region. Tito Northwestern field of high pressure lias pushed slowly southward, bringing xrro temperatures over the plains region to northern Nebraska, and leadings below normal southward over Oklahoma and eastward over the upper Mississippi Valley. Temperatures in the fur Northwest continue in many places from SO to 30 degrees below zero. It is warmer from the middle and western t.ulf region to tlie Ohio Valle.,, due to a depression trough traversing that area. ■ —lndiana High wavs — Highways have not changed much during the past week. Improved roads continue in mostly good condition, while unimproved remain in only fair condition, with rough and muddy surfaces in places. Small patches of snow dad ice are reported from the northern counties of the State. J. 11. AKMINGTOX, Meteorologist, Weather Bureau. CHICAGO PRODCCE. CHICAGO, Hoc. 20. Butter Receipts, 11.590 inlis; creamery extras. 42 tie: firsts, 33<?i!40!'-sc; packing stock. 234/21c. Eggs— Receipts, 5.000 cases; current receipts, 45#/; 17c; ordinary firsts, firsts. 4Sf?i;si)e; cheeks, 2S'osoe; dirties, 30fi7.32c. Cheese Twins mewl, 19C5-; daisies, I9’."jff/:2oc : V ui: v,f- Americas, 20 Vic; longliorns, 2i> ! ji-; ifiek, 18c. Live poultry Turkeys, 38c; ijiiekons, 19c: springs, 22c; roosters, 13>/_.(;t geese. 22e; ducks, 28c. I’otatoes—Receipts, 34 cars; -Northern Whites. sl.tiO(<|LßU per 150-lb. bag.

SWINE VALUES SUFFER LOSSES Trade in Cattle Very Slow— Sheep and Calves Lower. RANGE OF HOG PRICES. Good Good Good Dec. Mixed. Heavy. Light. 12. S7.RO(f/i 7.65 J7.15@ 7.23 ?7-75(fi) 7.85 13. 7.15@ 7.40 7.00 7.50® 7.65 14. 7.50® 7.85 7.35® 7.50 7.85® 8.25 15. 7.10® 7.65 7.15® 7.35 7.65® 7.85 16. 7.25® 7.40 7.00 7.50® 7.60 17. 700 6.75® 6.83 7.25® 7.40 19. 7.23® 7.40 7.15® 7.25 7.50® 7.75 20. 7.25® 7.35 7.00 7.25® 7.50 Due principally to the fact that this market was yesterday out of line with other markets of the country, swine prices were steady to 13 cents lower in trade on the local livestock exchange today. However, there were sales ot' light hogs that were made at prices that, were 2-3 cents lower than the prices of that grade of swine on the market of the previous day. Lower early price tendencies elsewhere also had their effect upon the trend of this market. Light swine soi/l at $7.-3() generally, mixed anil mediums at [email protected] and heavies at S7O/7.2.3. The bulk />f tlie sales for the day ranged /it [email protected]. Trade in cattle was very slow, with fresh receipts light, but the packers showing little demand. Prices ruled steady to weak generally. Veal prices were mostly *39 cents lower, with a top of $1" on choice veals, and the bulk of that grade selling at .$97/9 .3(1. Medium calves brought SC@B and culls and commons, $27/3. Receipts were light at 300 and the demand slow. The condition of the Eastern markets was said to be the chief factor of the decline hero. With receipts around 300. sheep were steady and lambs .30 cents lower generally. There was a top of $9 on fairly good lambs, while the 1 ulk of the good to choice lambs brought $8%9. HOGS. Best light hogs, 1.30 to ISO lbs average $ 7.50 Over 300 lbs 0.9.37/ 7.1.3 150 to 300 llis 7.!.3@ 7..30 Sows 5.50(h1 0.2:> Stags 4.757/} .3.7.3 Best pigs, under .140 lbs 7.507/ 7.75 Top 7.6" Bulk of sales 7.25<rt 7..30 —Cattle— Prime eornfed steers, 1.3C0 (o 1.800 lbs 7.004 t 8.00 Good to choice steers, 1,200 to 1,300 ilis 5.0044 O.*o Good to choice steers, 1,100 to 1.200 ll*s 5.0044 5../J Good to choice steers, 1.000 tc 1,100 His 4.50@ 5.00 1 Lemmon to medium steers, SOI) to 1.0,).) lbs i.007/, 9.00 Good to choice iieifers 5..3"4/. "->0 Medium heifers 4 0071.3.00 Gammon to medium heifers .. 3.2.344 3.7a (o(d to choice cows J.oo(u 4 Fair to medium cows 1.007/ 2.50 Cotters 1.3074 Connors ' r /07.4 1.50 —Hulls— Goo/1 lo choice butcher bulls 3.007i 4.25 Bologna bulls 2.50 t 3.00 Light bologna bulla 2.0074 2 -jO Light to common bulls 2.00 —Calves— Choice veals 9 007/10.00 Good veals 8.O07i! 9.00 Medium veals 6.0074 8.00 Lightweight veals *3007/ 6.00 Common to heavyweight veals 2.0044 0.00 —Stockers und Feeders— G. oil to choice steers under sou lbs 4..i0 4.7. J Medium cows 2.007/. ,k.*o G. oil cows 3 507/ 4.2.1 G( 0,1 heifers 5.007/ 0."0 Medium to good heifers 4.007/ 4.75 Milkers ... 3700(375.00 —Slicop unci Lambs— Ewes l.'KKtf 900 B 1:.■ ks •••• 2.007/; 2.0f) Good liV’iiiViiV.- lambs 8 ""7/ 9.00 .- ..calls 5.50Q4 7 00 Ruck lambs ">""7i O-'si Gulls 15.0044' *.30 Other Livestock CHICAGO. Dee. 20.—Hogs—Receipts. 135 000: market, uneven and steady to 10 . .. ,|s lower ; bulk of sales, $0,407/0.80; top. $7: In-.nit's, $r...3(i'ui',,75: mediums. 56.6t(/i/ i',.5.5; lights. $6.75717; light lights', $0,907/ 7 1D; heavy pa, king sows, smooth. $5 407/ 6.25; parkin.; sows, rough. $5,107/5.113; pigs-. $11,907/7.10. Cattle Receipts, 7.0*10; market, generally steady. Beet steers Choice and prime, $5.257i 10.50; toedbllil anil good. $0.257/9: good and ehoiei}. sßi./ j 10.75: eoimii.nl and liiedlnm. $5,257/8. ’ Bllleher rattle, heifers. $3,507/8; rows, ’ $3.257/6.15; balls, $3.2.57/6: veal calves, : X3.757i 8 50: fe *di r sle.-rs. $57/6.75; sio, k**r steers, *57/0.75; Stocker cows and heifers, $2.757/,7/4.75. Sheep and lambs- -Receipls, 8.000; mark. I. steady to 25 cents liigln r; : ehoii-e l'at biuilis, 25 cents higher; other rides, steady: choice lambs. $9.5(17/ 10.511; mil and • oUi'non iambs. $7.25(i/9.25; owes, $.".(//5.25: yearling wethers. $77/9; ! eull and /-ominon ewes, $1.307/2.7.7; feeder la mils. $8,757/ Hi. CINCINNATT. Dee. 20 Hogs—Receipts. 3,500; market steady; heavies, s 77i 7.50; mixed, $7.50; mediums, lights and pigs. $7.7.3; roughs, $5.75: stags. $1.50. Cattle Receipts, 2' M % market dull: few selling; bails weak; calves. $9,507/10. Sheep and lambs Receipts, 100; market steady; ewes. sl7/4; choice lambs, $10; seconds, $77/7.50; culls, $47/5. CLEVELAND. Dec. 20.—Hogs—Receipts, 1.800; market steady; corkers. $7.75: mix'd. $7.50; mediums, $7.50; pigs. $7.75; roughs, $0; stags, sl. Cattle Receipts, 15"; market slow. Calves Receipts. 150; market steady to s"e lower; top. sll. Sheep and lambs —Receipts, Mio; market slow; top, $lO. EAST ST. LOUIS. 111., Dec. 20.—Hogs -Receipts. I(),5"'J; market. 104415 c higher; mixed and butchers, $0.95447.25; good heavies, sO.!h)4i7; roughs. lights, $7,357/7.40: pigs. $77/7.55; bulk of sales, $77,47.25. Cattle Receipts, 4.* *GO; market slow; native beef steers. $5,507/8; yearling steers and iieifers. $74)10; cows. $3.25745: Stockers and feeders, $3.2574 5.50; ’calves. $2,257/8.50; eanners and eiitters, $1.2541.5. Nheep and lambs Receipts, 1.50"; market steady; mutton ewes, $37/1; lambs, $67/1".5"; eanners and choppers, $1742. EAST BUFFALO, Dec. 2d Hogs—Receipts, 7,21"; market, slow; yorkers, $7,507/7.90; pigs, $7.5"44-8; mixed. $77.4 7.25; heavies, $6,757/7; roughs, $5.2544,5.5"; stags. $47/4.5". Cattle—Receipts, .850; market, slow; shipping'steers, $7,257/8.50; butcher grades. $77/8; heife'rs, $4447; cows. $2.257/5.75; bulls, $5.257j5.2,5; feeders, $57/6; milk cows and siiringers, $39 fa 1;;". Calves—Receipts. 350; market, slow: /'till to elioice, $57/11.50. Sheep and lambs- Receipts, 4.200; market, slow: eli,>iee lambs, $lO7/. 10.75; cull to fair, $6 7/9.50; yearlings, $77/9.5"; sheep, $27/6. PITTSBURGH. Dee. 20.—Hogs—Receipts, 1.500; market, steady: prime heavies, $7747.25; mediums, $7,507/7.75; heavy yorkers, $7,507/7.75; light yorkers, $7,754/8: pigs. SB7/8.25: roughs, $5.5"7/}6: stags, $37/3.50: heavy mixed. $7.25747.50, Cattle —Receipts, 200; market, steady; choice, $8,257/8.73; prime, $7.7.57/8.25; good, $7.4574:7.50; tidy butchers. [email protected]; fair, $5.75746.75; common. $474.5.50; common t/i good fat bulls. $3.50745; common to good fat cows, $2743; heifers, $4.25740; fresh cows and springers. $357490; veal calves, sl2; heavy and thin calves, $5749. Sheep and lambs —Receipts, 1.000: market, steady; prime wethers, $5.23745.5": good mixed, $1.50745; fair mixed, $3,507/) 1.23: culls and commons, $1442; choice lambs, $10.50. WHOLESALE FEED PRICES. Tou Cwt. Acme Bran $30.00 $1.55 Acme Feed 30.00 1.55 Acme Middlings 30.00 1.70 Acme Dairy Feed 41.00 2.35 E-Z-Dairy Feed 35.00 1.80 Acme H. & M 32.00 1.65 C O. & B. Chop 28.25 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 IS-Z-Scrateh 32.50 1.65 Anne Dry Mash 43 25 3.20 Acme Hog Feed 38.25 1.95 Ground Barley 37.75 1.95 Ground Oats 32.25 1.70 Ilotnlick Y'ellow 29.25 1.55 Rolled Barley 37.75 1.95 Ground Oats 32 25 1.70 Rolled Barley 37 75 1.95 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 X) Light Scratch 36 60 1.85 I'LOUU AND MEAL. E-Z-Bake bakers' flour in 98-lb. cotton bags, $7.80. Corn meal in 100-lb. cotton bags, $1.65.

GRAIN VALUES CLOSE LOWER Preholiday Quietness Marks Trade on Grain Mart. CHICAGO, Dec. 20.—Pre-holiday quietness marked trading 011 the Chicago grain market today. The session opened generally lower, made light rallies and then fell off fractionally at the close. Provisions were lower. December wheat opened at $1.09*4, off Vic, and closed off %c. May wheat opened at $1.15, off ■%<•, and was %e lower at the close. July wheat, opened at $1.04'%, up %e, and was off %c at the close. December corn opened at 47c, off %c, and closed off %c. May corn opened unebnnged at 53%e and closed %c lower. July corn opened at 54%c, off. %c, and closed %c lower. December oats opened at. 33c, off V%', and closed unchanged. May oats opened at 38%c, unchanged, and finished V4<: lower. July oats opened unchanged at 39c and were %c lower when the market closed. (By Thomson & McKinnon) —Dec 20— Wheat—English markets today siiowed considerable strength which was reflected here for a time, but the failure of the market to broaden induced some realizing by early buyers. Winnipeg lias shown as much weukqoss today as it did strength yesterday, but this is not believed to be significant, being simply a matter of spreading between the two markets. Cash wheat is sparingly offered and consequently strong in all markets. On the other hand, export trade is at low tide, seaboard reporting only a small amount of Manitobas worked. There is some inquiry for gulf wheat, for the purpose of replacing that which did not pass grade owing to the length of time it stood 011 track at gulf ports. Broomhal! reduces his estimates of supplies in the hands of exporting countries, but maintains previous estimates of import requirements, the net result being a reduction of the world's surplus to 48,01K),099 which is altogether too small to provide for contingencies which may arise. This revision of estimate makes the so-called statistical position strong, so far as ultimate results are concerned. Just at the present time the market is burdened wit It hedging sales against the visible supply and nothing lias developed of sufficient import to-stimulate general interest. The market, therefore, makes no response to what is considered a position of scarcity ns time passes, it now seems likely that any new (actors which may appear will favor the holder. Ci and Oats —A small amount of export ousiness is reported in corn, hut the demand is not as brisk as heretofore, in fact, bids 111 the Chicago market are somewhat below a workable basis. However, there is an active demand for cur-' rent receipts, some of it for t lie purpose of tilling previous export rales, some of it for delivery on December contracts, lu corn and oats as in the wheat it is plainly apparent that something new must appear if interest is to become more general. l’rovisions -Transactions in the provision list were mainly in the way of liquidation of January holdings and a replacement for May delivery. Undertone of tlie market is firm, lint new interest does not show in the trade.

( lilt.AGO GRAIN TABLE. Dec. 2"— WHEAT— Open. High. Low. Close. Hoe . 1.09% 1 "9% 1.00% 1.08% Jim.,.. 1.15 1.15% 1.14 .1.14% Jufv 1.01% 1.04'% 1.03% 1.03% CORN— Dec 47 .47% .40% .40% May.... .*"♦% .53% .53 -53 July 51 % .55 .54% .54-% OATS— Dec 33 .33% .32% .33 May 38% .38% .38 .38% .1 illy 39 59% .38'* .38-, FORK •Jan 11.5 LARD— Die 8 70 8.70 .8 67 8.67 Mav 9.15 1.15 9.10 9.12 RIBS—•J an *•" May.... 8.07 8.10 B.IW 8.00 RYE— Deo 83 .81! .81% .Sl-% May..-. .89% .89% .88% .88% •Nominal, CHICAGO l'.\Bll GRAIN. CHICAGO, Dec. 23.—Wheat —No. 3 , mixed, *1.1(1; No. 3 red. $1.14; No. 2 hard winter, $1.11% : No. 3 hard yellow, sl.t>B. Corn No. 2 mixed 47%'./17%c; No. 2 white, 47%(*i47%c; No. 2 yellow. 47 %4< I -!8%c; No. 3 mixed, No. 3 white, 457i, 45'-c; No. 3 yellow. 4571.46: No. 4 mixed, ■!::% ■/ I !%■-' No. 4 white and No. 4 yel ; low. 447*44%c. Oats—No. 2 white. 56%% j:.7'-o: No. 5 white. sCoolie; No. 4 white, 33 Vi 7134 c. TOLEDO GRAIN PRICES. TOLEDO. Dec. 2". Wheat—Cash. $1.19 : '//1.21 1 j ; De-ember. $1.19; May, $1.25: July. .81."9%. Corn -Cusli. 527/53e. Oats —Cash. 407/ 12c. Rye—Cash, 87c. Barley—Cash, 63c. PRIMARY MARKETS. IBy The-|l.son ,V M- Kinr. ) RECKII'TS—- , \\ !:. at 1 •r 11 (' St .1..-,-pH . . % mil 1 sin 10 'Chicago 35,000 1.156.600 220.11";) Milwaukee 127,00" 49,000 Minneapolis .. 170.000 32.000 71.090 Duluth' 127.000 t *4,060 40,000 St. Louis 96.006 216.1HK1 82.0)0 1 11.600 55.600 2,000 Detroit ll.(MI) 46.000 t.OiM) Kansas City .. 166,000 35,mm s.non IVnria 1 ..):• IRI.IhKI 40.000 Gum ha 25.000 lu i.iHKI 18,000 Indianapolis .. 8,000 175."t0 50.09 1 Totals 071,000 2,174,000 590.000 Year ago .. Bs;j.iHl:i 7.85,00(1 438.003 —SiIiI'MENTS Wheat Corn Oats st. Joseph .... 14.000 10.000 Chicago 09.009 292.003 236,003 Milwaukee 1,003 55.000 27,000 Minneapolis ... 72.000 71,000 92,000 1 (ninth 1,000 St. Louis 33,000 70.""II 92.000 Toledo 11.0(10 7.003 !.""" Kansas City ...167,000 25,(H)0 17.""" Peoria 2,iK)O 43.030 7.000 Omaha 51.000 85.", ) 12.000 Indianapolis .. 080,000 497.003 Totals 124,000 089,000 497,000 Year ago .. eSs.outl 251.090 285,000 —CLEARANCES Wheat Corn Gats New Y'ork 272.000 224,000 60,000 Boston ‘2,0.0(10 I’hiladelpliia . . 4,000 26,000 New Orleans 111,000 Totals 516,(10(1 ,",61.000 60,000 Year ago .. 550,000 26,000 10,000 INDIANAPOLIS CASH GRAIN. —Doc. 20— Rids for ear lots of grain and hay at the* call ot the Indianapolis Board of Trade were; Wheat- -Firm; N_o. 2 red. $1,227)1.25. Corn—Easy; No. 2 white, 507/50%e:| No. white, 47 %(/!•'■: No. ! white, 46 7/47e: No. 2 yellow, 507V50%c; No. 3 yellow, 47%71)45c; No. 4 yellow. 467ti47%c: No. 92 mixed. 497/49%e; No. 3 mixed. 47 7)47%c; No. 4 mixed. 45%@46%e. Oats —Steady: No. 2 white, 30%@37c; No. 3 white, 35%7/50<\ Hay—Steady : No. 1 timothy. $17.507./:IS: No. 2 timothy. $177/17.50; No. 1 light clover mixed, $16,507)17; No. 1 clover, $197/20. —lnspections YYhcat—No. 2 red. I ear: No. 3 red, 2 cars; No. 4 red. I car; total, 4 ears. Corn—No. 2 white, 1 ear: No. 3 white, 20 cars; No. 4 white. 13 cars; No. 5 white, 2 ears: No. 2 yellow, I cars: No. 3 yellow. 17 cars; No. 4 yellow. 32 cars; No. 5 yellow, 25 cars; No. 6 yellow. 1" cars; sample yellow, 1 ear: No. mixed. 5 cars; No. 4 mixed. 11 ears; No. 5 mixed. S cars; No. 6 mixed, 2 cars; car, 1 car; total, 152 cars. Gats —No. 3 white. 11 cars; No. 4 white, 7 cars; total, 21 cars. Ilay—No. 1 timothy, 1 car. " 3===l== “ CLEVELAND PRODUCE. CLEVELAND. Dec. 20.—Butter—Extra J itt tubs, 49'%(if5()c; prints, 50%7t.51e; ex- i tra firsts, •18%7i49c: firsts, 47%745e: see- j omls, -tow 10% 1 -: packing :-tuck. 2.5%/(/! I 26Vic. Eggs—Fresh gathered, northern ' extras, 52c; extra firsts, 51c: Ohio first, | new cases, 49c; old cases, 48c; western I firsts, new eases, 47e. Poultry—Live, j heavy fowls, 247/ 25c; spring culls, 167/; | 18c: spring ducks, 277/.",0c; turkeys, 53c. , Sweet potatoes—Jersey'a. $2 per hamper;! potatoes. $2,907/3.15 per 1.50-ili bag; Mlel.ignns. $2.90; early Chios, $2.00 per • 120-lb. bag. TOLEDO SEED PRIf ES. TOLEDO. I >;*c. 20.—Cloverseed—Cash | and December. $13.45 bid; January, I $13.20; March, $13.15; April, $12.35 bi/1. Alsike—Cash and December. $11; Feb •nary and March. $11.25. Timothy—Cash, December and January. $3.12%; February, $3.17%; March, $3.25 bid.

Harding Does Not Believe ‘lnsular’ Applies to Japan WASHINGTON. Dec. 20.—President Harding does not believe that the term "insular possessions and insular dominions." as contained in the new four-power Pacific treaty applies to the islands of Japan proper, which constitute the Japanese empire, it was learned officially at the White House today. This viewpoint of the President is known to be at direct variance wit a that held by the State Department, a high official having stated last week that the islands of Japan proper were included in tlie term "insular dominions and insular possessions.”

SAYS PERSHING WILL BE AMONG MEN AT SESSION MacNider Explains Purpose of Legion Meeting Here in January. An important meeting to be attended t y Gen. John J. Pershing and 250 or more representatives of the American Legion and governmental heads at Washington will be held in Indianapolis the latter part of January, according to a statement issued by Hanford MacNider, national commander of the American Legion, shortly after his arrival in the city today. At this meeting the program of the legion for the coining year will be explained and discussed. In addition to representatives of departments of the National Government, a personal representative of President Harding will be present. The meeting will be attended by members of the national executive committee of the American Legion, members of all standing committees, a>l depaitmental commanders throughout the country and ali departmental adjutants. Commander MacNider. who is on his way to liis home at Mason City, lowa, will remain in Indianapolis several /lays. He was a guest of legion officers at the Uni- j versify Club this noon. AUDITOR FESSLE MAKES REPORT ON FINANCES Total Collections for Y'ear Reach $15,781,417, Showing Gains. Announcement was made today by County Auditor Leo K. Fester that the ! total collections by the county treasurer were $7,617,382 for the November payments, compared to $8,161,035 as total colj lections in May. The total collections for this year are $15,731,417 as compared to I $10,423,(132 for last year. Mr. Fesler said that the uncollected j taxes for this year, total $107,865. There is due the county treasurer for 6 per cent fees on delinquent taxes collected, a sum of $13,011. Mr. Feeler siiowed tlie distribution of funds at the December settlement as folj lows; City- General fund, $2,111,822; sinking 'fund, $97.1.78; board of health. $313,051; park, $170,752; police pension. $22,766; I firemen's pension. $22,700: school health, $14,229; tubercular, $14,229; recreation, I $50,918; track elevation, $85,374: improve- ! meats sinking fund, $11,383, ami sanitation. $10,245. City School —Gen, ral fund. $2,262,964, and teacher's pension, $17,071. County—General fund. $532,072: liinking ; fund, $299,0f5; tubercular, $49,935, and | road repairs. $166,453. State—General fund. $38,894 ; benevolent wind penal, $196,413; highways, $129,831; | schools, $194,038; educational institutions, '593,212; vocational, $6,009, and soldiers' | memorial. $19.97!. I Townships - General. $11.365: tuition. $107,034: special school. $145,257: roads, ! Sl.S'Sl; school bonds. $5,785; poor relief, $1,562. mol three-mile road bonds, $240,777. Township corporations, outside of the ; city, received a total of $33,555.

BANKERS TRUST WILL REMODEL Permit Issued for Changes to Cost $40,000. Remodeling of tlie tirst floor of the Bankers Trust Building, southwest corner of Pennsylvania and Ohio streets, so ns to close the present Pennsylvania street entrance and open a modern doorway on the Ohio street side will be undertaken soon, it was announced at the bank today, following issuance of a bui.ding permit for the work. The permit calls for remodeling to cost $40,009. The changes will do away with the present large lobby on the lirst floor, permitting additional rental space therein and the addition eff a room with Pennsylvania street frontage In place of tlie present entrance. The city building department also issued e permit to Pie! Brothers to build a third story on their brick starch factory building at Drover street and the Belt railroad at an approximate cost of $43,000. REPORT SHOWS LESS PROFITS State Board of Agriculture Considers Bond Sale. The total profits of the Indiana State board of agriculture were $25,000 less than those of the previous year, William Jones, financial secretary of the board, announced at the meeting of the State board. Tlie board mot to determine the amount of bonds to In* issued by the State to provide for the necessary improvements and paying for the debts incurred when it was a quasi State institution. It was believed tlie board would authorize a bond issue of approximately $1,000,030. The total receipts of the board from tlie State fair was $194,769.69 and the total disbursements $177,096.33. The State's total profit was $17,672.60. Permission for the Indiana National Guard and the Indianapolis Riding Club to use the coliseum at tlie fairgroun 1 throughout the winter for riding and drilling purposes was authorized.

Money to i Loan on Mortgages 75? Federal Finance Stock "™">" SELL 415 Lemcke Bldg. TODD

POLICE ARREST SIX PERSONS IN RAID ON HOTEL Find Diamonds and Large Amount of Currency in Alleged Tiger. Following the arrest of four men at the Hotel Royal today on charges of violating the liquor laws and unlawful possession of firearms, two other arrests were made. When tlie police raided the rooms of the four men they found a box of unset diamonds, a large amount of paper money and some firearms. The men gave tl eir names as Ora F,. Laswell. 36, 507 North Meridian street. Champaign. III.: Willie Reilly, 28, Hill street. Champaign; Allen Wheeler, 28. 104 East White street. Champaign, aid Herman Klemick, 32, 300 Forth First street, Champaign. Reilly and Laswell were charged with operating a blind tiger, Lnswell was charged with tnlawftil possession of firearms and all were charged with vagrancy. BELLBOY AND WOMAN HELD. The others arrested are William Barnett, 17, negro, 614 Ogden street, a bellboy, charged with pandering and vagrancy*, and May Parse!, alias Marcus, who says she lived in Montieello but is staying at the Royal, charged with vagrancy and operating a blind tiger. The Parsel woman is the one whom the four men arrested earlier blame for calling the police. Reilly, it is-said, declared he purchased a pint bottle of whisky from the woman at the hotel last night. According to the statements of the four men. the bellboy, who the police say was Barnett, knocked on their door last night and asked them if they wanted to see Miss Parsel. The woman came io the room and, it is alleged, delivered the liquor. It was at this time that she is said to have seen the diamonds, roils of currency and the revolver and shotgun. BELIEVE SHE AIDED IN HOLDUP. Detectives also believe she was. the woman who, with a male companion, held up John E. Hasty, Rill West Michigan street, on the night of Dee. 15, on the Crawfordsville road, and took his Hudson automobile and sll. Tbe car has been located in Montieello, the police said. The men reached Indianapolis yesterday with three automobiles which they stored in a garage near the hotel. One was a seven passenger National touring ear with Illinois license No. 273470, but under the seat sos this ear were found Illinois dealers’ license plates No. 3926. The other two cars were a Ford and a Buick. SAID THEY' WERE GOING TO KENTUCKY AFTER BOOZE. Lasswell and Reilley explained that they were en route to Louisville to obtain a supply of whisky, and that the loaded revolver and the shot gun found ! n their room was to protect their cargo. “We had been told Indiana was full of liigh-iaekers." explained Lassweii, ‘‘and nobody ever took any thing irom me 80 far and I am not going to let them begin now." Wheeler and Klemick denied that they were en route to Louisville after liquor. No guns were found in their room. A bottle of “white mule” whisky and part of i bottle of bottled in bond whisky was found in one of the rooms. They also had a small box containing a number of unmounted diamonds. All the men seemed well supplied with money. The four men placed the blame of their arrest on a woman whom they met after reaching Indianapolis. Who the woman is has not been learned, but the police are investigating that angle of the ease. It was not from the woman, however, that the police obtained the information that resulted in the raid on the two rooms. THE RAID CAUSE? .Ml ( II EXCITEMENT. Considerable excitement was paused by the arrival of Sergeant Burk and a squad of uniformed men in the emergency automobile at the hotel at 7:13 a. in. Traffic officers on duty near the hotel guarded the alley exits as the emergency squad entered. Within a few minutes Captain Ball and a reserve emergency squad, including Lieutenant Houston and Sergeant Sheridan, reached the hotel. It had been reported that the suspects were “gun men” and police took every precaution to guard against guu play and escape.

STATE SUPPLIES CONTRACTS LET Joint Buying Commission Opens Bids. Contracts for supplies for all of the j State institutions were let by the joint j purchasing committee today. The bids ! on groceries and laundry supplies were ; somewhat lower on articles to be used 1 during the first three months of 1922 than they were for the similar period in ; 1921. No contracts for sugar were awarded because of declining prices and no contracts will be let until the n. be- | comes more settled. Fred B. Robison, pur--1 chasing agent, said. The following prices will be paid for staple groeories which are used by tlie j State: Hard winter wheat flour, 5,550 j sacks at $5.50 per 100 pounds: 39.000 pounds of beans at $4.00 per hundred pounds; rolled oats, 29,330 pounds at 2% cents a pound; macaroni. 2,100 pounds a* 4% cents a pound; lima beans, 8,600 pounds at $6.75 a hundred pounds; American cheese, 12,700 pounds nt 21*4 cents a pound; prunes, 13,050 pounds at 8% cents a pound; coffee, 30,000 pounds, at 15 cents per pound; corn meal, 45.500 pounds, at $1.35 a hundred pounds, and Rut ferine, 68.518 pounds, 14 cents per i pound. lvingan & Cos. of Indianapolis received the butterine contract and the majority of the others were awarded to firms outside of Indiana. Good Investments. 51A In 453 L f S Offer and 6 [ Kecommeiul \ / / Juana Diaz \ it S / Porto Rico 6'/o \ 1 ff Bonds I I Exempt from Indiana and all Federal taxes \ except inheritance tax jrjfrM YpV Yield 5*4% JS] 2nd Floor Fletcher American Bank Bldg. 1 Indianapolis.