Indianapolis Times, Volume 34, Number 192, Indianapolis, Marion County, 22 December 1921 — Page 12

12

OIL SHARES AND SPECIALTIES IN BRIEF DECLINE Recession in Market Believed Due to Technical Causes. SETBACK ONLY NATURAL Special to Indiana Daily Times and Philadelphia Public Ledger. By MONITOR. NEW YORK, Dec. 22.—Scattered selling In the nature of profit-taking and transactions for short account made its influence felt in the market by bringing about the first general reaction that has been experienced in several weeks. De--IL.es were not extensive excpt ia 'he .irsr. f some of the oil shares and a few specialties, but the whole list was unsettled and losses ranging from fractions to more than three points gave the market an unsettled appearance. The close was irregular. The weakness first made its appearance in the oils and there was free selling of Texas Company, Pacific Oil. Mexican Petroleum, General Asphalt and Standard Oil of New Jersey. The pressure also was apparent in the case of the specialities, including American International, American Car and Foundry, Com Products and Baldwin. Allied Chemical was strong in the face of declines in other quarters of the chemical and fertilizer stocks. American Locomotive showed a good deal of firmness in the early trading in response to a statement that a large order for locomotives had been received from the Central Railroad of New Jersey. This stock, however, reacted with the rest of the list before the close. Steels were sluggish and inclined to heaviness. The tone of the weekly review of the Iron Age was inclined to optimism, as it stated that producers of steel were not concerned over the slackening in demand, but regarded it rather as a promise of renewed buying early in the coming year. The increase in building operations also was construed as one of the encouraging features in the situation. The set-back in the market undoubtedly is due chiefly to technical causes. The advance not only Las been fairly extensive from the standpoint of gains, but It has continued over a long period. Some recession is considered natural in view of this, and also on account of the approaching holidays.—Copyright, 1921. by Public Ledger Company. H ALL STREET GOSSIP B 1 MONITOR. There was some talk in the Street of an increase in the dividend of Allied Chemical when the directors meet next Tuesday. The '-ash position of the company is reported to be such that an inrea?e in the rate could be made, but there is no definite information that this action will be taken. A large increase iu the capital stock was authorized by the directors earlier in the year, and traders are fearful this stock may be sold in the market on a substantial advance. and in consequence nre chary of following the present movement.

It was reported that the Goodyear Tire , and Rubber Company is negotiating with j • ’ie Brasilian government for a cont'nu- j * i\ai of the rubber concessions, which, ! •• to this time, have not been exercised ne of the terms of the concession called ; r t :-‘ erection of a factory in Brazil.! ::•! it is understood the Goodyear Com- 1 iisv' now is prepared to establish such a P -lit. In common with the other rnb- ! ' • and tir'* stocks. Goodyear sold off ..i the late afternoon. ' -sociiited Dry Goods sold at anew j Li —,l price f>r the year, the buying re- I f!cS 1 g payment of a dividend by the Lord and Taylor Company. The move- j -liei r did no: attract much of n following. ; and the stock reacted later with the re3t of the lift. Refined Sugar was reduced to S cent" ; by practLwlly all of the local refiners. "'Vis action had been anticipated in the t Te and was without effect ou the ■ itr stocks. American Fugar was lr ivy, but did n it break its recent low. ' y.a m;’i as the market opened a large , relut" • of t -'ling on.:ru made tlielr ap-pear:-r.c*\ In several Instances the>e urdeis rear seated liquidir ion by pools, recently organized who had been nnablc to liquids!: the-r holdings, one pool in checking up i's accounts, found that in advancing iis stock Tuesday It had ’..■ought on balance almost aa ranch stock was acquired originally. This stock was thrown on the market. This is by no means an isolated ease. V hat had every appearance of being * selling, catae into Cora Products at 94. This stock was absorbed by a dative ir-ol supposedly not affiliated ' a i>-vrcsis controlling the company. The soiling which became manifest at 91 Las continued, and there were some in- | dieations that the pool was willing to allow a reaction. The situation in this stock Is curiously complicated, and while there is a good deal of bullish talk heard, the technical position of the issue in the market in such that conservative houses are urging caution in making comments in it. For the first time in more than a month the market developed activity on the decline. There has been considerable discussion as to the amount of selling which might come into the market after the new vear, on account of the excess tax provisions of the excise law. It was pointed out in some quarters that large operators would not wait until Jan. 1 to sell stocks if selling for this purpose was in sight. Where this view was held, the selling was attributed to speculative operations in anticipation of the January selling. Baldwin Locomotive, in which a large hort interest is supposed to exist, yielded quite as easily as any other stocks in he afternoon reac'ion. There is a large borrowing demand for this stock, which might indicate the existence of a real short interest. There was a market for it on almost every eighth, and someone apparently was willing to take such offerings as came into the market. The 1 belief is general that the equipment companies will take over in large measure the repair shop operations of the railroads with consequent enhanced earnings. —Copyright, 1921, by Public Ledger Company.' Rattlesnake Bite Held Plague Cure COLORADO SPRINGS, Colo.. Dec. 22. -Despite the fact that George Burke, exailor, is still alive and declared to be improving in health, local physicians are unwilling to admit that his “rattlesnake cure’’ for tuberculosis is efficacious. Three months ago Burke, tubercular victim, allowed a rattlesnake to bite him, in a desperate “kill or cure" attempt. Physicians are wary about admitting that the man has been benefited by the treatment. Burke is up and around now. apparently helped by the snake venom that entered his veins. Physicians admit that he has improved in health, but are inclined to attribute It to other causes than the snake bite, and they urge that Burke’s experiment should not influence ether sufferers from the dread disease to go to similar extremes. When Burke obtained his Arizona rattlers he notified physicians, and after the poison fangs had sunk into his arms he was treated for snake bite. The man was dangerously ill for several days from the effects of the poisoning. According to physicians several months J must elapse before it is determined whether his improvement in health Is perm ament. IXSrLTED HIMSELF. LONDON, Dec. 22.—Edward Howson. of Highgate, was arrested as a ‘•drunk." ‘•He was calling himself 'orrible names,” said the policeman. “Can't I insult my-ac-lf?” asked the prisoner. “You can't,” •aid the coart, and fined Bowson S3O.

N. Y. Stock Exchange

(By Thomson & McKinnon.) —Dec. 22 Prev. High. Low. Close. Close. Allied Chem 58 57% 57% 57% Ajax Rubber.... 15% 15% 15% 15 Allis-Chalmers .38 37% 37% 38 Am. Agricul 29% 29% 29% 29% Am. Beet Sug.. 2S 27% 27% 2$ Am. Bosch Mag. 34% 33% 33% Am. C. & Fdy. .144% 143 143 143 Am. Can 33 32% 33 32% Am. H.&L. com. 14 14 14 Am. H.&L. pfd. 59 58 % SSV 59% Am. Ice 73% 73% 73% 74 Am. Int. Corp.. 40% 39% 39% 40% Am. Linseed 33% 31% 31% 32% Am. Locomo 102% 99% 102% 99% Am. Smelt. &R. 43% 42% 42% 44 Am. Sugar Ref. 52 50% 51% 50% Am. Sum. Tob. 31% 30% 30% 30% Am. S. Fdy.... 33 32% 32% 33% Am. Tel. & Te 1.113% 113% 113% 114 Am. Tob 132% 130 130% 132 Am. Woolen 79% 78% 78% 80 At. Coast Line.. 90 89% 89% 90 Ana. Min. C 0... 48% 47% 47% 48% Atchison 92 91% 92 92% At. G. & W. I. 31 30% 30% 31% Baldwin L0c0... 96% 94% 95% 95% B. & 0., 3-J 34% 3o 35% Beth. S. (8).... 56% 55% 56 56 Cal. Pete 45% 46% 47% 48% Can. Pac. Rv ...119% 119% 119% 119% Cent. Leather.. 30% 30% 30% 39% t’hand. Motors.. 49% 48 48% 49% C. & 0 55% 55% 55% 56 C.,M. & St. P.. 18% 17% 17% 18% C..M. & St.P.pfd 30% 29% 29% 30% •Chi. & N.W.... 64% 63% 64% 66% C.. 8.1. & Pac.... 31% 31% 31% 31% C.R.l.&P.7pcpfd 85 85 85 85 Chili Copper,... 15 14% 14% 15% Chino Copper.. 26% 26% 26% 26% Coca-Cola 41 40% 40% 40% Col. Fuel & Iron 24% 24% 24% 25% Columbia Gas.. 65% 65% 63% 65% C.. C., C. &St L. 55'4 54% 54% 55 Cons. Gas 92% 90% 90% 93 Cont. Can 47 47 47 Cosden Oil 37% 35% 36 36% Corn Products. 98% 1*6% 97% 97% Crucible Steel'.. 65 64% 65 65 Cub.-Am. Sugar 13% 13% 13% ..... Cuba Cane Sug. 6% 6% 6% 6% Del. & Hudson..lo6% 105 105 106% Del. & Lacka...ll7 116% 116% 117 Erie 10% 10% 10% 10%, Endlcott 79 78% 75% 78% Famous Players 78% 76% 77 78% Fisk Rubber... 12% 12% 12% 12% General Asphalt 65% 64% 64% 68 Gen. Electric... 139% 138% 139 Vi 136% Gen. Motors.... 11 10% 10% 11 Goodrich 35% 84% 34% 35% Ut. North, pfd.. 75 74% 75 75 : Gulf States Steel 46% 46% 46',* 46 Houston 0i1.... "6% 74% 75 77% [Haskell Barker.. 79% 79% 79% 79% I Illinois Central. 98 97% 97% 98 1 Inspiration Cop. 39 39 39 39 [invincible Oil.. 12% 12% 12% 12% ! Indiahoma 3% 3% 3% 3% lint. Harvester.. S3 82% 52% 82% ! Int'l Nickel 12% 12 12 12% lint. Paper 52% 51% 51% 51% ! I si. Oil & Trans. 2% 2% 2% 2% IK. C. South 23% 23 23 Kelly-Spring. .. 42% 41 41 41% Kennecott Cop.. 24% 24% 24"i 24% Lacknwana Steel 44 44 44 Lehigh Valley... 57% 56% 56% 57% Loft Candy.. .. 9% 9% 9*: ... L. & N 108% 10S 108% Marine c0m.... 14 13 13 14% | Marine pfd 63% 61% 61% 63 ! May Stores ....107 107 107 107% I Max. Motor (B) 14% 14 14 14% ! Mont. & Ward.. 13% 13% 13% 13% Mex. Petroleum 112% 110% 111% 112% Miami Copper.. 26 25% 25% 26% Middle S. 0i1... 13% 13 13% 13% Midvale Steel.. 26% 20 26 27 ; Missouri Pac... 17% 17% 17% 17% ; Missouri I*. pfd 45% 45 45% 45% Nat. K. & Stamp 30% 36% 30% 37% Xatioual Lend.. 84 83% 83% Nevada C. Cop. 14% 14% n% .... N. Y. Central... 73% 72% 73 73 New Haven 12% 12% 12% 12% „rf<dk & West. 97 97 97 98 ! North. Pacific... 78% 78 78% 78% l Pacific Oil 46' i 45 v , 45% I■% I Pure Oil 37 35% 36 N 37% I Pan-Ant. Petrol. 51% 50 5> 51% : Henna. Ry *3% 33 33% 23% j People's Gas.... 61% 00 61 00% I Pieice Arrow... 13 < 13% 13% 13% Pierce Oil C 0... 12V. 16% 10% 12% Pittsburgh. Voa 1 02% 62% 02% 63 I Pressed S;l Car .;% 63 63 64 Pull. Pal. Car.no>-- 167% 107-a 1•> | Ray Copper.... 14% 14% 14% 15 _ ! Reading 72% 72 72 72% ; Rep. Iron & Stl. 52 50 39 -52 Replogle Steel.. 25% 24 25 24% i Roy. D. of N\ Y. NO 50 50 50 Scar: Ro-bnck. .58- 57% 50" 57% Sinclair 21% 21% 21%. 21 % j South. Pac...... 79’i 79 79 79% i Soutn. Rv 18% 18% 18% ls% •Stand. Oil. Cal. 92% 91% 92 92 Stand. O. N. J. 181', 178 178 181 ! St. L. & S. F. c. 2! 21 21 21% i Strom. Carb 35% 34 34 ■ * ; Studcbaker .... 85% 77% 7 K 80% Texas C & Oil 28 27 % 27% 27% 1 Texas Cos 45 45 45 15V. .Texas & Pac.... 26% 25% 26 25% Tob. Prod 03 r - 6,2% 62% dJI- - Oil 10% 10% 10% 10% i I'nion Oil 19 18% 8% is% Union Pac 125'. 125 125% 125% United R. 5.... 53%. 52% 52% 53 Ir.S.F. P. C... 10% 9% 9% 10% U. F. Cos 123 121 % 121% 123 ! T'nited Drug .. 71 70% TO 1 /. 72 U. S. In. A. ... 39% 38% 38% 39% l\ S. Rubber . 51% 55% 53% 54% I'. S. Steel ... 83% 82% 83 83 X’. S. Steel pfd.. 115 115 115 Utah—Copper .. 61% 61 61 61% Van. Steel 31% 31 51% 31% Vlr. Car. Chem. 27% 27 28V 27% Wabash 614 6% 6% iW. Is;, nfd .. 20V, 2 20 20 j White OR 10 10 10 10 ! ffest.i Klee. .. 49a. 49% 49% 50 White Motors . 37% 57% 37% 38 W. Overland .. 6 5% 5% 5% Wilson & C 0... 29% 29% 29% 29% Worth. T 44 41 44 45 Woolworth ....133% 133% 135% 1337s I West. Pag 16 16 16 17 . Ex-dividend.

NEW YORK LIBERTY BONDS. Frev. High. Low. Close. close. Libertv 3%r... 9.7.40 93.24 93.40 93.2 C Liberty Ist 4s Liberty 2d 4s 85.46 95.66 Liberty Ist 4Us.. 96.38 !)5.86 95.86 96.38 Liberty 2d 4%5.. 93.60 93.24 93.20 9.3.70 Liberty 3d 4%5.. 97.30 90.54 90.62 87.00 Liberty 4th 4Vis. 96.10 93 80 93.88 90.20 Victory 3-\s 100.04 100.r> 100.02 100.02 Victory 4%s ....100.04 100.02 100.02 100.02 CHICAGO STOCKS. (By Thomson Sc McKinnon.) —Dec. 22Open. High. Low. Close. Armour pfd 82% Carb. k Carb.. 43% 44 43% 43% Libby 5% 5% 5% 5% Montgy.-Ward.. 13% 13% 13% 13% National Leather 2U 2% 2% 2% Piggly Wiggly. 28% 29 28% 29 Reo Motors 18% 'Sears-Roebuck.. 57% 37% 57% 57% Stewart-Wnrner 23 n/ , Swift & C 0.... 97Vi 97% 97% 97% Swift Internatl. 20% 22% 20% 21% NEW YORK METAL MARKET. NEW YORK. lire. 22—Copper—Dull; spot to January offered, 13c. LoadFirm; spot and December offered. 4.89 c; January offered. 4.83 c. Spelter -Steady; spot and December offered 4.90 c; January offered, 4.93 c. NEW YORK HIDES. NEW YORK. Dec. 22.—With trade In hides fair, prices were firm on the market here today. Native steer hides Fold at 15%c and branded steer hides at 13%c per pound. NEW YORK WOOL. NEW YORK, Dec. 22—W00l prices were steady in trade on the market here today, prices of the past month being maintained. NEW YORK PETROLEVM. NEW YORK. Dec. 22. Petroleum was steady in trade on the market here today, Pennsylvania crude selling at $4 per barrel. NEW YORK TI'RPENTINE. NEW YORK, Dee. 22.—Turpentine sold at 81c per gallon in trade on the market here today. INDIANAPOLIS PRODUCE. Butter —Local dealers are paying, 40fi$ 41c per lb. for butter delivered in Indianapolis. Eggs —Loss off, 47c. Butter—Packing stock. 18c. Poultry—Fowis, 16fe23c; springs. 19c: cocks. 11(7112c; stags, 13c; young hen turkeys, 8 lbs. and up, 38e; yonng torn turkeys. 12 lbs. and up, 38c; old tom turkeys, 306?33c: cull thin turkeys not wanteu; ducks, 4 lba. and up, 17c; ducks, 4 lbs. and up, 18c; geese, 10 lbs. and up. 16c; rabbits, drawn, p*'r dozen, $2: squabs, 11 lbs. to dozen, .$6; young guineas. 2-lb. size, per dozen, $7 @8; old guineas, per dozen, $5. Butterfat—Local dealers are paying 42c< per pound for all butcerfat delivered infindianapolia.

MOTOR ISSUES SHARPLY DOWN Studebaker Shows Loss of 21-2 Points for Day. NEW YORK, Dec. 22.—The stock market closed today, most of the leading issues ending around the low levels of the day. United States Steel again fell to 83 and Baldwin Locomotive broke to 95%. United Retail Stores dropped 1% points to 52%. The motor stocks were weak. Chandler showing a loss of 1% points at 48, while Studebaker was 2% points lower ut 78. Government bonds were unchanged and railway and other bonds irregular. Total sales of stocks were 723,100 shares; bonds, $17,332,000. (By Thomson & McKiunen.) —Dec. 22. During the first hour of today's session, selling was, if anything, ou a little larger scale than we have recently experienced, with a considerably number of recessions noted through the list. Resistance, however, was met with and following a rather aggressive move in American Locomotive, during which time new high prices was established a general covering movement developed in the market with recent shorts covering commitments. Thereafter, the market was less active, witi> professional trading constituting a liberal percentage of the business. The important consideration of the moment is the technical position of the market. It looks somewhat doubtful on this point and it would not be at all surprising if the reactionary tendency should continue for several days longer and probably give us a temporarily lower level of values, which, however, should be regarded with favor by those who have not entered the market during the recent rise, or who have parted with their holdings. The thought which we entertain with regard to the market’s future is well expressed in a financial publication in which the following apepars: "Underlying the present demand for securities Is a superabundance of investment capital and gold that exceeds anything this country has ever known in the past.” What we desire most at this time to impress upon our friends is the necessity of distinguishing between a temporary bearish position resulting from technical conditions and the ultimate bullish possibilities because of great changes that have occurred in world's affairs and of the likelihood of more important developments which will ultimately lead to prosperity throughout the world. _ We therefore reiterate the view which we have expressed for several days that it is advisable to be on guard here for a further reaction and be prepared to take advantage of it by the accumulation of desirable stocks. TWENTY STOCK!’. AVERAGE. NEW YORK, Dec. 22.—Twenty industrial stocks on Wednesday averaged 70.02, off 1.28 per cent. Twenty active rails averaged 73.05, off .62 per cent. CLEARING IIOCSE STATEMENT, NEW YORK, Dec. 22—Exchanges. $079.000,000; balances, $70.200,000j Federal Reserve Banks credit balances, $51,700,000.

Money and Exchange

Indianapolis bank clearings Thursday were $2,372,000. NEW YORK, Dec. 12—Foreign exchange was weak at the opening nf the market here today, with demand steriiug %c lower at $4.20%. Francs yielded 4 centimes to 7.93 c for cables and 7.94 c lor checks. Lire declined 7 points t<> 4 44e for ctbl's and 4.43 c for checks. Belgian francs were off 6 centimes to 7.63 c for cables and 7.62 c for checks. Marks were 2% points lower at ,0055 c. Guilder cables were 56.85 c; checks, 30.83 c. NEW YORK CALL MONEY’. NEW YORK, Do.'. 22.—Money—Call money ruled 5 per cent; high 6> per cent; low. 5 cor coat. Time rates steady, all .vatu. . * Time mercantile paper, steady. Sterling exchange was heavy with business in bankers’ bills at $4.19 for demand. MOTOR SECC KITIES. (By Thomson & McKinnon.) Dec. 22 —Closing— Bid. Ask. Eart Motors . •U-i |}J4 Packard com 7% rii Packard pfd C3 l’eericss 33% 34% • out. Motors com 6% 6% Cont. Motors pfd 85 99 ilupp com H% 13 Hupp pfd 9- b 6 Hen Motor tV.r 18 ISVa Elgin Motors 3 Grant Motors ,114 1 % Ford of Canada 250 233 National Motors 1% 2% Federal Truck 16 JT Paige Motors 1414 14% Republic Truck 7% 7% ACTIVE OIL STOCKS. (By Thomson & McKinnon.) —Dec. 22 —Opening—- , Bid. Ask. Anglo-American ()•’. 17% 17% Atlantic Lobos 9% '•>% Borne-Scrymst r 32s> 340 Buckeye Pipe Line 82 84 Chesebrotigh Mfg. C0n5..... .170 185 Continental Oil. Colorado 115 125 Cosden Oil and Gas 6 JS Crescent l ijie Line 26 30 Cumberland Pipe Line 100 120 Elk Basin Pete 6% 6% Eureka Pipe Line 78 81 Galena-Signal Oli, pref 97 103 Galena-Signal Oil, com 46 42 Illinois I’ipe Line 155 160 Indiana Pipe Line 8" .S3 Merrit Oil 9% % Midwest Oil 2% 3 Midwest life 170 186 National Transit 28 29% New Y’ork Transit 145 150 Northern Pipe Line 8S 93 Ohio Oil 265 270 Oklahoma I’. & R 6 6% Penn.-Mex 17 20 l’rairie Oil and Gas 555 565 Prairie Pipe Line 220 235 Hapulpa ltefg 3% 374 Solar Refining 345 305 Southern Pipe Line 78 80 South Penn Oil 195 205 Southwest Penn Pipe Lines.. 50 55 Standard Oil t.'o. of Tml 87% 87% Standard Oil Cos. of Kan 575 585 Stanuard Oil Cos. of Ky 430 445 Standard Oil Cos. of Neb.... 169 170 Standard Oil Cos. of N. Y 305 372 Standard Oil Cos. of 0hi0....385 400 Swan & Finch 35 45 Vacuum Oil 300 315 Washington Oil 32 37 NEW YORK CURB MARKET. (By Thomson & McKinnon.) - Dec. 22 - —Closing Bid. Ask. Acme Packing 60 68 Curtis Aero, com 1% 3% Curtis Aero pfd 18 Goldfield Con 4 6 Martin Perry 18% 19 Jumbo Extension 3 7 Imperial Oil (Del.) 9’% 9% International Petroleum. 17 17% Standard Motors 3% 3% Salt Creek 13% 13% Tonopah Extension I 7-16 1% Honopah Mining 1% 1% United I* S new 1 15-16 .. U. S. Light and Heat 90 95 U. S. Light & Heat pfd.. 1 1% Wright-Martin 2 5 Y'ukon Gold Mine C 0.... 1% 1% Jerome 25 33 New Cornelia 16% 17% T'nited Verde 29% 30 Sequoyah 5 10 Omar Oil 72 74 Republic Tire. 15 25 NEW YORK SUGARS. NEW YORK, Dec. 22.—There was a fair trade In raw sugars on tlie exchange here today, but prices showed losses. Cubas were quoted at N.Glc per pound, duty paid, tvhile Porto Ricos sold at 3.00 c per pound, delivered. Prices of refined sugars were nlso easier, both fine granulated and No. 1 soft selling at oc per pound. NEW YORK COFFEE.’ NEW YORK. Dec. 22. —Coffee values were firm in trade on the exchange today. with trade fair. Opening options were 9 points lower to 39 points higher. Rio No. 7 on spot sold at 9@9%c per pound. NEW YORK RICE. NEW YORK. Dec. 22.—With trade in rice rather quiet-, prices were firm on the exchange today. Domestic rice was quoted at 3%@7%c per pound.

INDIANA DAILY TIMES, THURSDAY, DECEMBER 22, 1921.

New York Bonds

(By Fleficher-American Company.) —Dec. 22 FOREIGN GOVERNMENT BONDS. Bid. Ask. Arg. (unlisted) ss, Sept. 1, ’45 73% 73% Belgian 6s, Jan. 1, '25 95 95% Belgian 7%5, June 1, '45 104 105 Belgian Bs, Feb. 1. '4l 100% 107 Berne Bs, Nov. 1, '45 106% 107% Chile Bs, Feb. 1, ’4l 101 101% Christiania Bs, Oct. 1, ’43 105 107 Copenhagen 5%5, July 1, ’44.. 85% 86% Danish Mun Bs, Feb. 1, '46 105% 108 Denmark Bs, Oct. 15, ’45 108 109 •Canadian 5%5, Dec. 1, ’22... 92 % 93% •Canadian 5%5, V<>v. 1, '23... 92 93% •Canadian s Vis, Nov. 1, '24... 91 92% •Canadian ss, Dec. 1, '25 89 90% Canadian ss, Apr. 1, '26 95% 96 •Canadian 5%5, Dee. 1, '27... 92% 93 Canadian 5%5, Afig. 1, '29.... 95% 96% Canadian ss. Apr. 1, '3l 94% 95% •Canadian ss. Oct. 1, ’3l 89% 90% •Canadian 5%5, Nov. 1, 243... 93% 94% •Canadian o%s, Nov. 1, '34... 90% 92 Canadian ss, Mch. 1, ’37 93% 94% ♦Canadian 5%5, Dec. 1, '37... 96 97% •French (Vic.) ss, Opt., '31... 60 62 •French 4s, Opt., ’43 49 50 French Bs, Sept. 15, '45 9974s 100% •Italian (war) 5s 35% 36% Jap (first) 4%5, Feb. 15, '25.. 87 87% Jap (second) 4%5, July 10, ’25 86% 87 Jap 4s, Jan. 1, '3l 73% 74 Norway Bs. Oct. 1, '4O 108 110 Sao Paulo Ss, Jan. 1, '3O 100 101 Swedish tls, June 15. '39 9-1% 95% Swiss 5%5, Allg. 1, "29 95 95% Swiss Bs, July 1, '4O 110 113 U. K. 5%5, Nov. 1. ’22 * 99% 100 U. K. 5%5, Aug. 1, '2O 99% 99% IV K. 5%5, Feb. 1, ’37 95 95% Zurich Ss, Oct. 15, ’45 106 107 Brazil Bs, June 1, ’ll 104 104% French 7%5, June 1, '4l 94% 95% Uruguay Bs, Aug. 1, '46 102 103% Argentine Vs, Oct. 1, '23 97% 98% •Internal loans. CORPORATION BONDS. Bid. Ask. Alum. Cos. of Am. 7s, Nov.. *25.100% 100% Am. Cotton Oil 6s, Sept. 2, '24 95 85% Amer. Tel. 6s, Oct., 22 100 100% Amer. Tel. 6s, Feb.. '24 9974* 100 Amer. Thread 6s, Dec., ’2B. .100 100% Amer. Tob. 7s, Nov., '22....100% 101 % Amer. Tob. 7s, Nov.. ’23....191% 102% Anaconda 6s, Jan., '29 96% 977s Anaconda 7s, Jan., '29 100% 100 Anglo-Am. (til 7%5, Apr., '25.102% 102% Armour 7s, July 15, 740 101% 102 Atlantic Ref. 6s, Mch., ’31...104% 105% Bell Tel. of Can. 7s, Apr., '25 100% 100% Beth Steel 7s, July 15, ’22...100 100% Beth. Steel Bs, July 15, ’23.. 100% 100% Can. Pacific 6s, Mch. 2, ’24.. 99% 100 Cent. Arg. Ky. 6s. Feb., '27.. 90 01% C., R. 1. & P. ..s, Feb., '22.. 99% 100 Con. Gas Bs, Dec.. ’2l 100% 101 Copper Exp. Bs, Feb. 15, "22.1’M) 100% Copper Exp. Bs, Feb. 13, ’23.101 101% Copper Exp. Bs, .Feb, 15, ’24.102 1 02% Copper Kxp. Bs. pel).' 15, ’25. .103 103% Cudaliy 7s, July 15, *23 100/s 101% Fed. Sugar 6s. Nov., "24 96-% 97% Goodrich 7s, Apr., ’25 97 % 97% Gulf Oil 6s. July, '23 99% l')U% Gulf Oii 7s, Feb., '.">3 10-7s DU 1 , Hocking Valley 6s. Mch., '24.. 90% 97% Humble Oil 7s. Mch . 'ls. "23..100 100 , lnt. It. T. 7s. Sept. '2l 70 72 K. C. Term. 6s, Nov. 15, '23.. 99% 100 Kenu. Copper 7s. Feb., '30.. 100% 101% Laclede Gas 7s. Jail.. "29 97% 08% Proctor & G. 7s, Mch., ”22...100% 100% Proctor & G. 7s, Mch.. '23... 101% 101% Put). Ser. N. J. 7s, Mch., '22.100 100% R. J. Reynolds 6s. Aug.. 22.100% 100% Sears-Roebu“k 7s. Oct. 15. '22 99% loti Sears-Roebuck 7s, Get. 15, ’23 99 99% Sinclair 7%5. May 15, ’23.... 98 % 99% Solvay & Cic Bs, Oct., ’27....102 103 Southern Ky. 6s, Mch.. "22.. 99% 99% S. YV. Bell Tel. 7s Apr , ’25’.. 100 100% Stand. Oil (Cal ), , Jan.. ’31.103 106 Std. Oil (N.Y.) 7) vim., '25-’3I.UH% 108% St. Paul l .l>. 5%5, Dec. 15, '23 98% 99% Swift 7s, Oet. 13, ’2y 99% 190% Texas Cos. 7s, Mch. 1. '83.... 100% 101% Utah See. os, Sept. 15. '22... 95% '.61% Western Elec. 7s, Apr., ’25. .103% 105% Westinghouse 7s, May, ’31...104% 105%

Local Slock Exchange

STOCKS. Bid. Ask. InU. Rv. & Light com 00 Ind. By & Light pfd 75 Indpls. & S. E. pfd 00 ludpig .V N. W pfd 60 Indpls. St. ity 50 T. H., T. & L pfd 57 T. 11, I. & E. com T. 11., I. & E. pfd 4 i% U T. of Inti, coin U. T. of Ind. Ist pfd U. T. of Ind. 2d pfd 2 Advance-Homely com 9 Ailvaiice-ltumely pfd Am. Creosoting pfd 92% ... Ym. Central Life 150 ■• • Belt K. It. coin <*> W Beit It. It. pfd 45% ... (Vntury Dlug. Cos. pfd •;• Citizens Gas Cos 25% 2t % Dodge Mfg. Cos. pfd 8t •Home Brewing 43 Ind. Hotel com ••• •Ind. Hotel pfd 94% ... Ind. Nat. Ins. Cos 3% *> Ind. Title Guar. Cos 43 ->8 ind. Pipe Lines S'* 86 Indpls. Abattoir pfd 40% M •Indpls. Gus 43 4. Indpls. Tel. com •>% Indpls. Tel. pfd.... 90 ... •Mer. Pub. Util, pfd 48% Nat. Motor Car Cos [ ? - - Pub. Sav. Ins. Cos '•% ••• Raul) Fertilize' pld 43 ... stand. Oil of Indiana 89-.* Sterling Fire Ins. Cos • 8 Van Camp Hdv pld.. iw Van Camp Pack.ug pfd...... 4, 4 •'.■ Van Camp Pro i. Ist pfd. } H Van Camp Prod. 2d pfd Vanda 11a Coal Cos. com - Vandalia Coal Cos. pfd 4 Wabash Ky. com 5% Wabash Ry. pfd 1J BONDS. Broad Ripple 5s 54 ... Citizens St. Ry. 55........... 08 <-/ Indian Ck. Coal and Mine... ... 160 Ind. Coke & Gas 6s 83 (49 Indpls. C. & S. 55....... 91 Indpls. & Martinsville os 06 Imlpls. North. 5% oi Indpls. & N. W. os 4< o 4 Indpls. & S. E. ss. 40 Indpls. S. & S. E 05..., •• Indpls. St. Ry. 4s 0.1 0< Indpls. T. & 1.5s ;3 *9 T. 11., I. & E. 5s 5b U. T. of Ind. 6s *•> 51 Citizens Gas 5s ■> 8 ‘ Indpls. Gas C 0.... 89 Kokomo M. &W. 5b *>% 8J Ind. lUdel Cos. 2d 6s m a••• Indpls. L. & H. ss. 81 8. Indpls. Water Cos. os.. 4. 99 Indpls. Water ("■ 4%s ' - Mer. H. & L. 5s J** w New Tel. Ist 65.. <•... >l% New Tel. L. I). ss. )3 * VA,, Sou. Ind. I’ower 88/ 3 ♦Ex dividend.

Local Curb Market

(By Newton Todd) —Dec. 22 Am. Tloininy com 14 20 Central and Coast Oil - ... Choate Oil C0rp..... % 1% Columbia Fire Ins. Cos 0 7% Comet Auto 1 2 Dayton Rubber. Units 51 01 Dictorgraph I’rod. pfd 46 55 O W. Griffith 8 9% Elgin Motor Car 3 4 Federal Fin. Cos. pfd 76 86 Fed. Fiu. Cos., com 122 129 Gt. Sou. Prod. & Ref 5 6 Indiana Rural Credits 50 60 Metro 5 50c Stores com 6 9 Mero. 5-00 c Stores pfd 20 27 National Underwriting .... 3% 5 Rauch & Lang Units 32 42 Rub.-Tex. Units 15 17 U S. Automobile units 68 78 US. Mtg. Cos. Units 140 100 bank stocks. Commercial Natl. Bank .... 71 81 Continental Natl. Bank 109 116 Indiana Trust Cos 175 190 Indiana Natl Bank 258 268 Merchants Natl. Bark * 2SO Natl. City Bank 105 110 Security Trust Ce 130 State Savings and Trust 93 98 Wash. Bank and Trust C 0... 150 ... CLEVELAND PRODUCE. CLEVELAND, Dee. 22.—Butter—Extra in tubs, 49%®50c; prints, 50%®51c; extra firsts, 48%@49c; firsts, 47%®48c; seconds, 40®40%c; packing rtock. 23%® 26%e. Eggs—Fresh gathered, northern extras, 52c; extra firsts, 51c; Ohio first, new eases, 49c; old cases, 48c; western firsts, new cases, 47c. Poultry—Live, heavy fowls, 24@25c; spring culls, 16® 18c: spring ducks, 27®30c: turkeys, 53c. Sweet potatoes—Jersey’s, $2 per hamper; potatoes, $2.90®3.15 per 150 i>> bag; Miohlgans, $2,00; early Ohlos, $2.00 per 120-lb, bag.

SWINE PRICES SUSTAIN GAINS Trade in Cattle Is Fair— Calves $1 to $1.50 Higher. RANGE OF HOG PRICES. Good Good Good Dec. Mixed. Heavy. Light. 14. s7.so@> 7.R5 $7.35® 7.50 $7.85® 8-25 15. 7.40® 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® 6.85 7.25® 7.40 19. 7.25® 7.40 7.15® 7.26 7.50® 7.75 20. 7.25® 7.35 7.00@ 7.25 7.50 21. 7.15® 7.25 7.00® 7.15 7.40 22. 7.35® 7.50 7.15® 7.35 7.G5® 7.75 With receipts extremely small at 3,300, swine prices were 15 to 25 cents higher in trade on the local live stock exchange today. This was tlie lightest run of suine that has been on the local market since the outbreak of the World \V4ir. Buying of scattered bunches by shippers and local packers constituted the only early trading, while one of the principal local packing concerns, which generally takes more swine than another packer, kept out of the market because of higher prices. Representatives of this packing house stated that, they did not think the light, run of the day should cause higher values because this market has been out of line with other markets of the country for the past week or more. There was no better buying movement during the late forenoon hour than there was early. A considerable number of swine, it was anticipated, would bo held over for the market of the following day. Trade in cattle was fairly active and prices were fully steady to strong. The quality was ge;>erally only fair to good. Receipts were light at around 300 fresh cattle. With receipts of calves light and keen competition between local buyers, trade was erratic and prices $1f1.50 higher. There were close to 200 on the market early and it was estimated that there would be 300 before the end of trade. There was not a sufficient number of sheep ami latpbs in the pens to warrant the establishment of a market. HOGS. Best light hogs, 150 to 180 lbs. average $ 7.65® 7.75 Over 300 lbs 7.00<)i. 7.15 150 to 300 lbs 7.15(0 7.75 Sows 5.50® 6.00 Stags 4.50(3! 5.00 j Best pigs, under 140 lbs 7.75®. s.OO j Top 7.75 Balk of sales 7.00@ 7.25 —CattlePrime curated steers, 1.3C0 to 1.890 lbs 7.00® 8.00 Good to choice steers, 1,200 to 1,300 las 5.50® C. 75 Good to choice steers, 1,100 to 1,200 lbs 5.00<§! 5.53 Good to choice steers, 1,000 to 1,100 lbs 4.30® 5.00 Common to medium steers, 800 to 1.000 lbs 3.00® 0.0 Good to choice heifers ...... 5.50® 6.50 Medium heifers 4 00® 5.01 Common to medium heifers .. 3.25® 3.75 Good to choice cows 3.00® 4.75 Fair to medium cows I.oo® 2.50 Cutters 1.50® 2.25 Gunners 50® 1.50 —Bulls— Good to choice butcher bulls 3.00® 4.25 Bologna b .lls 2.50® 3.00 Light bullf! 2.00®) 2..<0 Light to common bull3 2.00 —Calves— Choice veals 10.00812.00 (yootl vt*i s y,(HVf|'lo.oo Medium vcais 7.008 8.00 Lightweight veals 5.00® 6.00 Common to heavyweight veals 4.00@ 6.00 —Stocuers and Feeders — Good to choice steers under 800 lbs 4.508 4.75 Medium cows 2.00® 3.50 Good cov s 3 50® 4.25 Good heifers 5.00® 8.50 Medium to good heifers 4.00® 4.75 Milkers 37.00®75.00 —Sheep and Lambs— Ewes 1 00® 3.00 Bucks 2.00® 2.50 Good to choice lambs St"*®!! 9.00 Beconds 5.50® 7.00 Buck laiubs 5.005 J! 6.50 Culls 3.50® 4.50

Other Livestock

CHICAGO, Dec. 22.—Hogs—Receipts, 32,000; murket, 15@25c higher; bulk of sab’s, $7(<j!7.30; top. 57.40; heavies, 86.93 (<77.13; mediums, #7.156/7.30; lights, 87.20 <97.40; light lights 87.23fe7.10; heavy packing sows, smooth. 3.9>fe0.50; packing sows, rough, $5.60fe0; pigs, 80.73 fci 7.10. Cuttle Receipts, 4,0u0; market steady to *.'• higher; beef steers, choice autl prime, sß.2sfe 10; medium anJ good. J6.27.fe 8.73; good and ehoiee, s7.7sfel<); common stud medium. $3(98; buteher euttle, heifers. s3.3ofeN; cows. $3.2566; bulls. $3.25fe5.75; eanners ami cutters, <•<>ws an,l heifers, $2fe3.35; <-,tuner steers, $2.75fe3.75; veal ealves, 86.73fe8.50; foeder steers, $56(0.60; stocker steers. $1.25 '• ,0.50; stoeker cows and heifers, $2.75@ 4.(53. Sheet* and lambs- Receipts, 8,000; ■market strong to 23c higher: good to choice veals. $lOf9H: cull and common lambs, $7.75fe9."< .; yearling wethers, $7.23 6(,9.h.'i; cues, s3fe.".2f>; breeding ewes, sl.r<t>fe2.7s; feeder lambs, s9felh.2s. CINCINNATI, Dee. 22.—Hogs—Receipts, 4,800; market, steady to 25 cents higher f heavies, $7.256/'7.75; mixed, mediums, ligiits and pigs, $7.73; roughs, $3.7.3; stags, $4.50. Cattle—Receipts. 4!! >; market, slow and weak: bulls, weak; ealves. $9.50. Sheep and lambs Receipts, 150: market, steady; ewes, SI6M ; bucks. .$2.50; choice lambs, $10.30; seconds, s7fe 7.50; culls, ?lfes. CLEVELAND, Dec. 22.—Hogs—Receipts, 3,500; market, 25 cents higher; yorkers, $7.75; mixed. $7.75; mediums. $7.50; pigs, $7.73; roughs, $5.75; stags, sl. Cattle—Receipts, 150; market, slow and dull. Sheep and lambs—Receipts, 1,000; market, $1 higher; top, $11.25. Calves — Receipts, 290; market, strong; top, sll. PITTSBURGH. Dee. 22.—Hogs—Receipts. it,000; market, 10 to 20 cents higher; mixed and butchers, $7.25(37.50: goo<J heavies, $7.35" 7.30; roughs, $5.70(36; lights, $7.35w7.45: pigs. $f1.75(rf7.25; bulk of sales, $7.35fe7.50. Sheep and lambs— Receipts. 500: market, higher- mutton ewes, $36? 1; choice iambs, SB6/10.25; canuers ami choppers. sls. EAST BUFFALO. Dec. 22.—Hogs— Receipts, 3.200; market slow; yorkers. $7.50 fe7.75; pigs. $7,756*8; mixed. $7.50,'<(.7.75; heavies. $76(7.25; roughs. $56/5.50; stags. Cattle—Receipts, 800; market slow; shipping steers, $7,256(8.30; buteher grades, $76/S; heifers, s4(</7; cows, $2.2561“ 5.75: bulls, $3,256(5.25; feeders, $56?6; milkers and springers, $306/130. Sheep ami iambs—Receipts, 2,400; market slow; choice lambs, $11,256/11,50; cull to fair, $76(11; yearlings, $6.506(9; sheep, $26/6. WHOLESALE FEED PRICES. Ton Cwt. Acme Bran $30.00 $1.55 Acme Feed 30.00 1.55 Acme Middlings 30.00 1.70 Acme Dairy Feed 44.00 2.35 E-Z-Dairy Feed 35.00 1.80 Acme 11. Sc M. ................ 32.00 1.05 C O. &H. 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 E-Z-Scratch 32.50 1.05 Acme 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 Hcmlick Yellow 29.25 1.55 Rolled Barley 37.75 1.95 Ground Oats 32.25 1.70 Rolled Barley 37 75 1.95 Alfalfa Mol 3300 1.70 Cottonseed Meal 48.00 2,45 Linseed Oil Weal 50.00 2.55 Chick Mash 45.25 2.30 Tankage 55.50 2.90 Meat Scraps 80.00 4.50 I> Light Scratch 3600 1.85 FLOUR AND MEAL. E-Z-Bnke bakers’ flour in 98-lb. cotton bags, $7.80. Corn meal in 100-lb. cotton bags, $1.05. CHICAGO PRODUCE. CHICAGO, Dec. 22. —Butter —Receipts, 4,171 tubs; creamery extras. 42%c: firsts, 33 1 -36<40%c; packing stocks, 23@25c. Eggs—Receipts, 2,600; current receipts, 476/}soc; ordinary firsts, 4367:45c; firsts, 516753 c; checks, 2S@3oc; dirties, 30@32e. Cheese—Twins, new, 19%e; Daisies, 206/} 20%c; Young Americas, 21c; Longhorns, 20%c; Bricks, 1767TSC. Live, poultry— Turkeys, 40c; chickens, 19c; springs, 23c; roosters, 15%c; geese, 23c; ducks, 29c. Potatoes—Receipts, 7 cars; Idaho Russets, $2.10 per 150-lb. bag. WHOLESALE BEEF PRICES. The following are today's wholesale prices for beef cuts are sold on the Indianapolis markets of Swift & Company : Ribs—No. 2,23 c; No. 3,18 c. Loins—No. 2,28 c; No. 3,23 c. Rounds—No. 2,15 c; No. 3.13 e. Chucks—No. 2,10 c; No. 3, 9c. Plates—No. 2, Dc; No. 3, Sc.

GRAIN VALUES CLOSE LOWER FaY-orable Crop News One of Chief Market Factors. CHICAGO, De-. 22. —Grain prices dropped toward the close on the Chicago Board of Trade today. Snow over the wheat belt and other favorable crop reports coupled with heavy offerings and little demand caused the slump, after prices had held steady during the early I part of the day. Provisions were irregular. December wheat opened unchanged at $1.11% and closed off %c. May wheat opened at $1.16%, off %e, and closed %,c lower. July wheat opened at $1.05%, off %c. and closed off lc. December corn opened up %c at 4S%e and was off %c when the session ended. May corn opened at 54%c, off %c. and closed off %c. July corn opened at-5G%c, up %c, and closed off %c. December oats opened off %c at 33%c and closed down %c. May oats opened unchanged at 38%c and closed %c lower. July oats opened at 39%>c, off %e, and closed %c off. (By Thomson & McKinnon.) —De-. 22. — Wheat—The idea that we have exported sufficient wheat to place us on a domestic basis underlies the strength in wheat. Today’s market wag helped by higher foreign markets and a report that futures were being bought in Winnipeg by foreign interests. Private message from the seaboard claim. There is export business doing in flour, but, outside <sf this, export trade is light. Cash wheat in domestic markets maintains strength, derived to a considerable extent from light offerings. Private estimates of the Australian surplus are slightly smaller than a recent estimate of Broomhali's. Argentine wheat is not offered freely, as the harvest there has been delayed by rain. It is claimed, however, that the q’uality is good. Some precipitation has been reported from Kansas and the weekly State report says that wheat is at least holding its own and in some instances shows improvement. Inasmuch as the strength and buying in wheat at the moment is predicated upon’ultimate scarcity and as new export and milling demand are slow it may develop that values are high enough for the moment. On the other hand, it is not wise to believe strongly in lower prices until the Argentine crop is offered more freely. Corn and oats—There has been a considerable broadening of interest in the corn inark.-t as well us buying by larger cash interests. The Russian relief bill being responsible. Seaboard claims that foreign buyers are slow in following the advance nonetheless, this market has sold 500,000 bushels to seaboard exporters., Some receiving houses see evidence of Increased offerings from the country. It is not definitely known ho.v extensive the purchases by the Grain Corporation will be, nn announcement is expected soon. Oats arc without Individ’uality, reflecting corn strength in a moderate way only. Provisions—Hogs are strong and casn trade for products is in u healthy position, but there is n noticeable absence of Investment demand. It is felt that prices will work higher wit any broaden lug of trade. > CHICAGO GRAIN TABLE. —Dec. 22. WHEAT— Open. High. Low. Close. Doc 1.11% 1.12 1.11 1.1 l May 1.15% 1.17 115% 1.15% July 3.05% 1.05% 1.04% 1.04% CORN Dee 48% .19% .47% .48% May 54% .55% .54% .54% July 56% .56% .56 .56% OATS— Dec 33% .33% .33% .33% May :*% .38% .38% .38% July 39% .39% .39% .39% PORK—•Jan 14.55 LARD— Jan 8.75 s SO 8.72 8.72 May 9.20 9.22 9.15 9,15 RIBS— Jan 7.87 7 90 5.87 7.87 May.... 8.10 8.15 8.10 8.10 RYE— Dee S3 .83% .S3 May 59% .90% ,S>% .90% •Nominal. CHICAGO CASH GRAIN. CHICAGO. Dec. 22.—Wheat—No. 3 mixed, $1.07%. Corn No. 2 mixed, 49% j ®soc; No. 2 white. 50c; No. 2 yellow,: 49%©50c; No, 3 mixed and No. 3 yel-| low, 47%®48c; No. 3 nhite, 47%@48%c: | No. 4 mixed and No. 4 white, 46%@47c; | No. 4 yellow, 46%®47%i\ Oats No. 2 white, 37®.37%0: No. 3 white, 34®35%c; No. 4 white. 33%@34%c.

TOLEDO CASH GRAIN. TOLEDO. Dec. 22.—Wheat Cash. ?1.21%6j 1 23; December. $121%; May. $1.28%; July. $1.11%. Corn —Cush, 536 J 54c. Oats—Cash. 40fe42c. Rye—Cash, 88c. Barley—Cash, 65c. PRIMARY MARKETS. (By Thomson & McKinnon.) Doc. 22. —Receipts— Wheat. Corn. Oats. St. Joseph.... 12,000 29 0(A) Chicago 20.000 673,000 176.000 Milwaukee ... 3.000 184,000 42,000 Minneapolis.. 343,000 34,000 51,009 Duluth 76.000 101,000 24,000 St. Louis 52.000 880(0 52.000 Toledo 1,000 8.000 12.000 Detroit 24.000 6.000 Kansas City.. 127.000 TlM*** 3.000 jVorla 49,000 18.000 Omaha 19,000 42.000 14,000 Indianapolis.. 7.000 70.000 16,000 Totals .... 666,000 1,1,578,000 414,000 Year ago... 704,000 918,000 437,000 —Shipments— Wheat. Corn. Oats. St Joseph.... 25,000 3,000 2,000 Chin gen 24,000 233,090 112,000 Milwaukee ... 4.000 -11,000 131,000 Duluth 36,000 St Louis,... 50.000 57,000 32,000 Toledo 3,000 11,000 3,000 Detroit 4.000 Kansas City.. 135,000 10,000 22,000 Peoria ....... 93,000 (>l,o*lo Omaha 24.090 00,000 18,000 Indianapolis.. 1,000 22,000 14,000 Totals 411,000 570,000 471.000 Year ago... 643,000 387,000 386,000 —Clearances — Wheat. Corn. Oats. Boston 10,000 Philadelphia... 37,000 17.000 Baltimore .... 48,000 00,000 New Orleans. 132,000 163,000 Totals .... 21LOOO 249.000 10,000 Year ag0....1,169,000 9,000 INDIANAPOLIS CASH GRAIN. —Dec. 22Bids for car lots of grain and hay at the call of the Indianapolis Board of Trade wore: Wheat —Strong; No. 2 red, $1 ; [email protected]. Corn —Firm; No. 3 white, 48%@49e: Xo. 4 white, 47%fe4Sc; No. 2 yellow. 51% 67,52 c; No. 3 yellow, 48%@49%c; No 4 yellow, 47<®4Sc; No. 3 mixed, 48@48Jic; No. 4 mixed, 47@-18e. Oats—Strong: No. 2 white, 37@37%c; No. 3 white, 366/ 36%c. [jay—Steady: No. 1 timothy. $17,506?! IS; No. 2 timothy, $176717.50; No. 1 light clover mixed, $i6.50fe17; No. 1 clover, sl9fe2o. —lnspections Wheat-Sample. 1 car. Corn —No. 3 white, 6 cars; No. 4 white, 0 cars; No. 2 yellow, 2 cars; No. 3 yellow 8 cars; No. 4 yellow, 20 cars; No. o vell’ow, 10 cars; No. 6 yellow, 1 car; No 2 mixed, 1 car: No. 3 mixed, 2 cars; No! 4 mixed, 10 cars; No. G mixed, 1 car; total, 67 cars. „ . Oats—No. 3 white, 11 cars; No. 4 white, 6 cars; total, 17 cars. Rye—No. 4, 1 car. HAY MARKET. The following are the Indianapolis prices for hay by the wagon load, deflvered: Xi ny —Loose timothy, $16((£17; mixed hay sls@lG; baled hay, $16@17. Oats —Bushel, new, per bushel, 32<335c. Corn—Old, per bushel. 55fe60c. WAGON WHEAT PRICES. Indianapolis flour mills and elevators today are paying $1.12 for No. 1 redAvinter wheat; sl.lO for No. 2 red winter wheat and according to test for No. 3 Oats are quoted at 25c for No. 3 white or better. TOLEDO SEED PRICES. TOLEDO, Dec. 22.—C’overseed —Cash and December, $13.55; January, $13.25 bid; February, $13.30 bid; March. $13.20 bid; April, 512.60. Alsike —Cash and December. $11.15 bid; February and Starch, $11.35 bid. Timothy— Cash, December and January, $3.12%; February, $3.17%; March, $3315.

In the Cotton Market

NEW YORK, Dec. 22.—The issuance of thirty-two notices was larger than expected at the opening of the cotton market today, but failed to exert much influence. First prices were unchanged to 8 points lower, except October, which started 5 points higher. There was a little foreign selling of December, but both Liverpool and New Orleans interests took the late months. New York opening cotton prices; December, 18.50 c; January, 18.15 c; March, 18.27 c; May, 17.63 c; July, 17.23 c; October, 16.50 c. 4 The market was quiet in the late dealings and closed steady at a net decline of 13 points to a net advance of 3 points. —Cotton Futures— Open. High. Low. Close. January 18.15 18.36 18.08 18.08 March 18.07 18.20 17.98 18.00 May 17.63 17.78 17.55 17.60 July 17.23 17.34 17.11 17.24 October 16.50 16.50 16.36 16.48 December 15.50 18.50 18.15 18.03 —Cotton Review — NEW YORK, Dec. 22.—The cotton market was narrow during most of the day. The volume of business was light, local in and out trading and the switching of options constituting a large part of the day’s business. A point is made of the recent reduction of the local stock, but iu all likelihood this is at the expense of quality as shipments have undoubtedly been made of the more choice staple that was contained in the stock and therefore tenders to be made on January contracts will be awaited with interest. In the meantime there is no reason to expect any violent price changes. We are more likely to experience slow and uninteresting markets, with a likelihoon of an easier tendency at the South will no doubt show a disposition to part with more cotton before beginning preparations for the new. LIVERPOOL, Dec. 22.—Spot cotton opened in limited demand. Prices were steady and sales around 5,000 bales. American middlings fair, 13.42d: good middlings, 11.07d ; full middlings, 11.27 u; middlings. 10.92d; low, 9.72d *. good ordinary, 8.17d ; ordinary 7.42d. Futures opened quiet.

Weather

The following table shows the state of the weather at 7 a. in., Dec. 22, as observed by United States \\ eather Bureaus. Station. Bar. Temp. Weather. Indianapolis, Ind... 30.28 22 l‘t( ldy Atlaula, Ga 30.20 • 46 I’tCldy Amarillo, Texas 29.82 44 Cloudy Bismarck, N. D... 29.98 6 Cloudy Boston, Mass 30.36 4 Clear Chicago, 111 30.26 22 PtCldy Cincinnati, Ohio.. 30.32 20 PtCldy Cleveland. Ohio 30.42 12 PtCldy Denver, Colo 29.54 20 Clear Dodge City, Kan... 29.90 16 Cloudy Helena, Mont 3U.14 0 Cloudy Jacksonville, Fla. .. 30.14 56 Clear Kansas City, M 0... 30.04 22 Ruin Louisville, Ky 30.28 26 Cloudy Little Rock, Ark.. 30.10 38 Cloudy Los Angeles, Cal... 29.74 52 Rain Mobile, Ala 30.12 60 Cloudy New Orleans, La... 30.10 62 Cloudy New York, N. Y... 30.44 S Clear Norfolk, Va 30.46 26 Cloudy Oklahoma City 29.98 30 Rain Omaha. Neb 30.00 14 Snow Philadelphia, 1a... 30.52 14 Cloudy Pittsburgh, Pa. ... 30.59 10 PtCldy Portland. Ore 29.74 26 Cloudy Rapid City. S. D... 30.00 8 PtCldy Roseburg, Ore 29.64 30 Cloudy San Antonio, Texas 29.9S 56 Cloudy San Francisco, Cal. 29.60 46 Cloudy St. Louis, Mo 30.14 2S Snow St. Paul, Minn 30.1S 6 Cloudy Tampa. Fla 30.12 60 Cloudy Washington, D. C. 30.54 12 Clear WEATHER CONDITIONS. The field of high onromctrle pressure which was over the upper Mississippi Valley Wednesday morning has moved enstwrard more than southeastward across the Lakes region, and Ims caused decidedly colder weather In the middle end north Atlantic States. Owing to this more northerly movement the temperature drop in this immediate region wax only of moderate degree, but the readings from the Aller.henles eastward are from 20 to 30 degreoa lower than those of yesterday morning. Warmer weather is following rapidly In the wake of the cold spell, and has overspread all o* the Northwest and thence southward to the middle Mississippi Valley cud southern plains region. Anotlier field of high barometric pressure lias made i(s appearance in extreme western Canada. J. H. ARMINGTON. > Meteorologist. Weather Bureau. Girl Recovers From Sleeping* Sickness MOLINE. 111., Doc. 23—Elinor Settle, daughter of Guy F. Settle, ia recovering today from an attack of sleeping sickness which has lasted nearly two months. She was stricken in Cedar Rapids, lowa, while at work and started home, collapsing on the train. She spent a few weeks in the hospital there and was later removed to Moline. She is now able to be up. Widow Bequeathes $5,000 to Church Special to The Times. MUNCIE. Ind.. Dec. 22.—1n the will Mrs. Cynthia Carpenter, wealthy widow, filed for probate here, the sum of $5,000 is left to the High Street Methodist Episcopal Church to be used in enln-glng the Sunday school rooms and a like sum to the local chapter of Eastern Star. The deceased was prominent in lodge and church work hero for years. Wisconsin Man Gets Philippine Post WASHINGTON, Dee. 22.—President j Harding today nominated Eugene A. Gil- j more of Wisconsin to be vice governor [ of the Philippine Islands. The President also sent to the Senate j the nomination of Emilio Del Toro to be chief justice of the Supreme Court of Torto Rico. Vessel in Distress Appeal BOSTON, I ec. 22.—An SOS call was received from the steamer New England I in distress off Halifax, Nova Scotia, by ! the Charlestown Navy Yard today. The i vessel is without fuel oil and is battling [ a northeast gale, the message said. PAWNSHOP MARRIAGE. PARIS, Dec. 22.—An English couple who came here to get married found they [ lacked the money necessary to pay the fee. The bridegroom put up his \aisi- ; coat and the bride her handbag ns se- 1 curity, then the ceremony was performed. 7 .MORE BLUE LAWS. BYESVILLE, Dec. 22.—Mayor Hall has decreed that blue laws are to be in oper- | atlon here on Sundays. Restaurants, for j sale of lunches, and drug stores, for sale of medicines, may be open from midnight i Saturday to midnight Sunday. Sales of tobacco, candy, soft drinks and ice cream ; are forbidden. ;

Money to Loan on Mortgages STATE LIFE INSURANCE CO. 'and y Federal Finance Stock NEWTON SELL See Curb Market 415 LEMCKE BLDG. TODD

BURSTING PIPES GIVE DEDUCTION IN INCOME TAX Recent Ruling Permits This, Though Previously Denied at Washington. WON AFTER STRUGGLE By JOHN G. HERNDON JR. PHILADELPHIA, Dee. 22.—An incoma tax case brought to my attention illustrates what rights a taxpayer has, even when disagreements occur between,, the Bureau of Internal Revene and a taxpayer with regard to his liability under existing law. The taxpayer was a bachelor, who went to France with the V. M. C. A. He was in France on Dec. 31, 191S. The only member of bis family was his father, for whom he was providing a home near Philadelphia. The father was unable to support himself. His son had an income approximately $20,000 a year. While in France the son paid with his own checks a large number of bills for goods which were delivered to the Y. M. C. A. instead of requiring that association to pay such bills. In December, 3918, a storm occurred and the pipes in his garage, adjacent to the house which he was furnishing for his father, burst. The damage done was repaired at a cost of $250. When it came to the matter of fileing his return from 1918 he claimed a deduction as head of a family ; that the expenditure for repairing his garage was a deductible loss, and that the 1 ills he paid on behalf of tlt*> Y. M. C. A. were gifts by him to that institution, and since they were less than 15 per cent of 1 his net income were deductible oa his return. U. S. DISALLOWS ALL THREE.

i The Government disallowed all three [ of thes items and assessed a tax against i him accordingly. He protested against | the department's view; wrote a letter I stating his own contentious and to it ! received a reply from the department | to the effect that he was wrong in all three of his contentions. He then was I granted a conference. At the conference i the Government auditor contended that [ as he was in France he could not posi sibiy have been living with his father i on Dee. 31, 1918, therefore he was entitled | to an exemption of only $1,200, being j rbe chief support of a dependent who j was unable to earn his own living. The I attention of the auditor was directed to I the regulations, which state that no loss I of status is to occur to a person because j of absence from home on account of I businesl, education or war. It was j argued that since the taxpayer was the ] chief support of another person closely | related to him by blood, living in the : same house with him, except for his ab- ! seneo abroad, he was entitled to the ex- : empeion granted to the "head of a family.” ! This point was- conceded, but argument on the other two points proved I useless. An amended assessment letter J was written the taxpayer advising him that the amount of income subject to snrtax was as had been previously adjusted, but that he had been granted an additional exemption of SI,OOO for purposes of normal tax. Not satisfied with this ruling, the taxpayer mailed to the ! department the canceled checks which he j had given in payment of supplies fur- [ nlshed the Y. M. C. A., together with affi- ! davits from that organization that he 1 I had not been reimbursed on account of j those payments, iDEPARTMENT I YIELDS POINT. [ * The department then yielded that point ! and allowed these payments made on be- | half of the Y. M. C. A. to be deducted as contributions to the Y. M. C. A.. The j next result was a letter advising the taxpayer that his original return was still incorrect in the matter of the claim on account of the damage done to his garage However, last week the Treasury Department handed down, a decision, which would seem to fit the case, as follows: “A taxpayer claimed a deduction In his return for 1918, such sum representing part of the cost of replacing flooring and furniture damaged bv the freezing and bursting of water piper in hi3 residence during his absence. The loss was not compensated for by insurance and the question is raised whether such loss constituted a deduelble loss. “It is held that losses sustained by ‘other casualty’ within the meaning of Section 214 (a) 6 of the statute are those [ which arise through the action of natura. i physical forces, and which occur suo- | ilenly, unexpectedly, and without design jof the one suffering th e loss. The loss ’ sustained through the freezing and bnrst- ! ing of the water pipes in a residence dur- | ing the absence of the occupant clearly comes wlthi nthe definition given of losses j arising'from ’other casualty.’ The de- [ duetible loss Is the difference between the ! cost of flooring and furniture the fair market value on March 1, 1913, it j acquired prior thereto, and such value j was less than the cost), less depreciation | sustained thereon prior to the casualty j and the salvage, value of the property.” An appeal will, therefore, be taken to have this taxpayer’s tax adjusted in accordance with this decision.—Copyright, t 1921, by Tublic Ledger Comrstny. Hubby Should Be Handy About House CHICAGO, Dec. 22.—The question of the little boy who asked his mother. “Who is this man who comes here on Sunday and spanks me when I don't behave?” is not merely the idle imagining of the cartoonists, according to Carroll G. Pearse, head of the Milwaukee Normal School, a speaker before the National Homemakers’ Council here. “No indeed,” continued Prof. Pearse. ‘‘The father of today pays too much attention to the factory and the shop and not enough to the home.” Too many fathers, the speaker said, carelessly remark at the club that they “leave that to the wife” —meaning things to be taken care of around the home. This, he declared, is a cowardly resort. It's as much a man’s business, in the opinion of Professor Pearce to stoke the furnace when the janitor is off playing poker as it is the wife's to “put the kettle on.” In fact, every husband should be • janitor, as well, and a plumber and a generally handy man around the house, if lie is a good husband, according to Professor Pearse. JAIL 'LOSES “PATRONS.” HONOLULU, T. H., Dec. 22.—Honolulu county jail now has an average of only sixty-six prisoners a month as compared with a monthly average of 250 for 1919. The decrease is attributed by local poliee authorities to the effects of prohibition.