Indianapolis Times, Volume 34, Number 196, Indianapolis, Marion County, 27 December 1921 — Page 10

10

EASIER MONEY CLEARS VISION FOR NEW YEAR Quiet Optimism Hovers Over Near Future of Market World. RAW MATERIALS STEADY Special to Indiana Daily Times and Philadelphia Public Ledger. By MONITOR. NEW YORK. Dec. 27.—At the close of last week there was ?. feeling of quiet optimism oyer the n ;ar future of the market. Tae reactionary tendency that made its appearance curing two or three days was not sufficiently pronounced to cause apprehension or to convey an impression of underlying or technical weakness. It is possible that the nest few days may witness a few isolated examples of selling to establish losses, but this is hardly likely to take on a general character. In respect to the outlook for the new year, sentiment is decidedly optimistic so far as the course of securities is concerned. There is no expectation of a business boom, although a gradual improvement is anticipated. It is felt, however, that we are likely to witness a period of speculation that may take on substantial and perhaps unprecedented proportions. The basis for such n movement, it is argued, ■will be furnished partly by the growing ease and abundance of money and partly by the fact that the speculative operations of the whole world are likely to in; concentrated in the New York security markets, thus leading to a wave of buying that may carry values beyond all conservative bounds and even tax the physical machinery of the exchanges to handle the business. This, of course. takes Into consideration merely the speculative features. These, however, are bound to reflect to a greater or less extent the improvement caused by the constructive work of the Washington conference and such results M may come from international economic discussions later on. The position of industrial corporations coming in for mor.- or less attention, particularly with r. spect to their can. - ings for the final quarter of the year. The showing is not expected to red or msich change, although these change* should be moderately for the better. The ■tee! industry is still working at less than half its capacity and the outlook for new business is confined chiefly to demand for structural purchases and such buying as the railroads may undertake. The Improvement in the price of copper metal is expected to cause a renewal of mining operations by April at the latest. The ris- in commodity prices will be welcome if it does not become too pronounce-!. Any advance in the price of cereals is expected to be limited !>y the l-'w buying power of Europe and the fact that supplies of breadstuff's show an increase over last year, with the exception of Russia. The improving conditions in the textile industry and the apprehension over the new crop outlook are expected to cause a very steady and probably higher market in cotton. In fact, the Readiness in raw materials which has br >n emphasize.l bv rising tendency should be distinctly helpful to producing corporations, particularly iho-'e which have not scaled their iu-x‘-n;ori- s down to the limit. At any rate, tiie new buying for replenishment will t nd to promote activity and add to th" feeling of business encouragement. - < "pyright, 11*21. by Public Ledger Company.

END OF YEAR FINDS TRADE j IN STEEL DULL Orders Held Up to Evade War Ta r c on Freight Rates — Outlook Is Bright. Special to I ..liana Daily *li:nes ana Philadelphia Public fad- -r PITTS lll'mill, Pa.. !••••. -7.—Tilt final week of the year in the iron and steel trade will be on- of t'Je tor a long time. tiperatlons of mills vverreduced gradually over the week, dropping from [K-r eeiit tie* St- -i Corporation and '■-> per cent i-v tli*- independents. : n the early part <>l t!i“ week. t-> a general average. -f 111* per cent. by the elose. Manv mills that have !-.-• operating v.:!l .suspend for repairs art 1 inventories a:.-l !da.~t furnaces connected with those st< 1 mills "ill, in many cases, lx; banked. Buying has been light,-r over the v.. e.. and i' not expected to begin ui.t:t January and possibly only in a gradwa. vav at that time, although a eontliiue-1 gradual increase is exp- ted up until in the S[*ring, wh<*n the trade is f?x !>*■•<• u*l to have attained a very comfortable JV Thg buying of the present is entirely restricted to material abs •lutely ue*a* r u Buyers are asking for the lo ld-ttp shipments until after Jan. 1. " e-<-.ipe the l v.r.r tax on freight. Steel plant n'-tiviti -s naturally reflect th-- smaller volume of business and deliveries the market does not reflect a print < . interest on the part of buyers in their earlv 19-J2 r.-<jiiirementst at present. There have been few; changes in price*, but the buying trad- is not satisti-d ti a it has reached the minimum. Heal lirmness is apparent in sheets-, which arholding rigidly to the bases inoiißcl by th- American Shot and I m 1 lau Company. . . The tin plate market seems to have firmed up again after a brief period, dur ing which some makers took business at below the regular quotation <-f ?4.70. Considerable uncertainty exists in the market for wire products, due to the fact that some mills outside the Pittsburgh district have b<-en accepting Business on a mill rather than a Pittsburgh base. Prices of |ig iron have dropped further. some basic having sold at Sl*.r>n. and foundry at $lO-TO. These sales were tor immediate delivery, and ar. not an index as to the price of forward deliveries. Railroad work is expected to he the largest tonnage taken by steel mills over the first quarters of the New Year. It is expected that about 2.000,000 tons of rails will go on books with the necessarytrack accessories and a great amount of ears and other material. The Great Northern Railroad has issued an additional inquiry for Id*** stock ears. The Illinois Central and Burlington inquiries aggregating 9.300 ears, may be placed this week. The Chesapeake Ohio has asked for prices on 000 hopper cars. The New York Central Railroad contemplates purchasing 1,000 box cars. The 11. C. Frick Coke Company is inquiring for repairs on 1.200 cars. The Baltimore & Ohio Railroad bought 1.000 hopper car bodies of fifty-five ton capacity. The Illinois Central probably will place 2,000 gondolas in a short time, and is inquiring for 500 additional. The Northern Pacific is Inquiring for 1.200 center frames for gondolas. The Cnion Pacific Railroad Is inquiring for 500 box cars of fifty-ton. capacity, and has a farther inquiry forautomobile and refrigerator ears, which is expected to come out shortly. Despite the decline in the last part of December, the statement of the Steel Corporation for this month may show an increase, as the corporation almost broke even In November between shipment and bookings, and ttie December shipments will probably be lighter, while the bookings should be heavier. Early in the year, the corporation’s shipments were almost entirely against old contracts, but in the last two or three months the shipment# have been largely against new orders.—Copyright, 1921, by Public Ledger Company.

N. Y. Stock Exchange

(By Thomson & McKinnon.) —Dec. 27 — Prev. ; High. Low. Close, close. I Allied Chemical 5s 57% 5S 57Vi Ajax Rubber.... 37% Id 1 .- 17% 16-q Allis-Chalmers.. 58 37% 3S 37% Am. Agrl 29% 291 s 29U 29% Am. R. Sugar.. ‘27% 27% 271.- .... Am. B. Mag. Cos. 55 31% 35 33% Am. C. A. Fy 1 45% 115 133% 142% Am. Can 31% -33% 34 33% Am H. .v- L.cotn 13% 13% 13% -■• Am.ll. A L.pfd 59% 59% 59% _.... Am. Ice 7*% 77 77% *> Am. lut. Corp. 41% 40% 11% 40% Am. Linseed.... 32% -'2 l + 32% 32 Am. Loco 100% 103% 10? 103% Am. tL & Ref.. 45% 45 4-‘' s 4-> Am. Sug. Kef.. 52% 51% 52% Am.?. Tob. Cos. 33% 31% 33% ol Am. Steel Fdy.. 33% 32% 13% J-'i Am. Tel. & Tel. 11l % 113% 114 113% Am. Tobacco. ..132% 152 132 131% Am. W001en.... SO% 79% N>% *9% Am Zine A. Lead 13% 12% 13% ..... Anaconda Mill.. 50% 4i*% 5 s - H 49% Atchison 92% 92 92% 92% Atl. Gif. AW. I. 32% 31% 32% 51% Baldwin Loco.. 99% 96% 99% 9t>% B. A 0 35'j 34% 34% •" Beth. Steel (B). 57 56% 5*5% .- California Pete. -19% 45% 49% 48% Can. Pac. Ky. .120 110% 119% 119% Central Leather 30% 30% 30% 30% Chandler Motors 49% O 56 55 r *i 56 1% M. A St. P. 19% IS% l s % CMA St P pfd.. 52% 51 % 32!: 31% Chi. A Xw 03 % 62% 63 03 C. It. I. tV P.. 32', 51% 52% 52 CRIAP 7pc pf 84% 84% 54% ■■■■■ Chili Copper.... 10% 10 , 16% L'T Chino Copper .. 28% 2 s '*i 2? 's 28 Coca Cola 41% 41% n% 41 Col. Gas 05- s 0-i% •-' k '-“'.i Col. Graph 3% 3 3_ >*% Cons. Gas 92% 91% 91', ..... Continental Can. .• r-- • ’•_% Cosden Oil 37=% 37% -•* i Com Prod 97' , 95'- ?• ?o , Crucible steel .. 06', 05 00% t,J% Cuban Am. Sug. 13% 13% 13% • •••• Cuban Cane Sug. 7 •*% * , '*% Del. Ar Hud 10.5% 105% 10-5% I*"> Del. A Lack. ..129', 117 117 120% Erie 1"% !0_ 10% I*l Kndlcott 7 s 's 21% J 5 Famous Play... 7V 1 , 77', 7- , " * Fisk Rubber... 13 12% 12', 12% General Asphalt 00% 65% 00% *25% General Cigars. 67% 67% Cen Electric...l4o 110 140 159% General Motors. 10% 10% 19% IW% tioodrich 56% 30 36% 3.*% lit. North, pfd.. 75% 7-5 75% i4% tit. North. Ore.. 52% 52% 52% 32 Houston Gi1.... 7 V % 7*'-% 7'% Haskell-Barkcr. 79 75% 75% Illinois Central. 97 90% 9*5% • Inspiration Cop. 41% 4"% 41 4*> Invincible Oil.. 1-s', 14% 1- 11_ i lndiahoina .... - , 5% -I % i Inter. Harvester si 79 81 I Intt r. Nickel... 12 11% 11% 12 ! Inter. Paper... 7'-' 7 5 % 3' i 32', | Ist. Oil A Trans. 2 % 2% 2 , 2% | Kelly Sjg. Tire. 45% 12% 43% 12% I Ken lie. Copper. 27% 26% 27%. 26% Lehigh Valley.. 57% 57 57 57 . Lee Tire 25% i. . Inc. 13 j 13*2 L-.fr Candy :•% 9 , '••% L. A N ! 1 - 198. ' Marine pfd *‘> % 64 01% o:% Max Motor *Bl 15% 11% 11% 14% Menu Ward 11 15',. It 14% M-x. Petrol 11l 113% 111% ' HO* Miami Copper... 27% 27 27%. 20% Middle St. oil.. I.: . l:;% 13', II Midvale Steel... 27% 20", 27 2. Mo Pacific 17% IT'-, 17 j 1.% M. By. pfd. 10 15% 46 4-s', Nat. En. A Bi.. 36• Natio II ad.. - - ' - • ■ • \ei Col Cop.. 15 15% 15% 15 N Y. Central.. 75 , 7-% .2- t .-'•% New Hav n 12% 12%, 12* 12% Northern L'ac... 79% 7-% T'% 7%, Pae.lie lil 4 7', 17% *7% 47;, Pur- "il ssi. 5* % 2. •, , Pan AUier. Pet.. 52 , 51% 52 . 52 P.-nna. Ky 55% 22% 32% :-i% Pe .!•’.■ s lias ..<!!% * 2 I 02' ■ Pi. r- Are . . 11 , 1". . IC, 1- , pi, rce oil C 0... 12 , 12 12 , 11% Pittsburgh C.-al 02 . t'2%. ' - pres Seal 8 Cir Ot% 01 O'* Pullman P. Car IP*. l'-7 1"7 ; Rav < 'opp. r . . 15 14 1-5 E> II 1,. E~A >i —V. -51% 51 ■ 51% 51 ‘ R.-dogle St.—l 20. 25%. 2'i 25% Rev. I>. .f \ 5 :■*• •% 50 •"% 19 , S -ars Roetotek . 59% 57", - ' •".* s s. s. a 1... Its 2., B*o. t !,* rtl Pne . 79 , 79 7 a 79 southern It . Ih-\ - . - t t.l ■d. Oil t ' . 9'2- , :> % 95 'a2, 7 . Stand. O. N. .I..i' 1 I>2 I s % I*l s-ildebaker **l 7s ' s| 7•% - i*. A•. - 27 27 271 i Is A Pac. 2'*- ' 2*" 20 20 , ,„ - |*r . 61 '■ frai - Oil 11% II 11% 11% I niou "il . .. 1"% l s 'l '' s ! : .... i 1-5 , I.M 12'- I-"; I at. R•- t>• res 52% .52% i • ’2’'i I . s. I P. * -r. IP *. 9~- •> , Fruit Cos.. 122% 122 122 .. . i 8 In. Al-ohol 2.9% 2.9 39%. 29 t 8 Ullt-bcr... 5.1% 5.1 5. 1 5.1 f s Steel 84% M’.a; S4 82.% I ' B.' Sp-el pfd..111% 111% IH% I rail • ..OP. - "5% '■ % •;•!__ 01 Vanadium St-t-l -11 , ••! - -*l"s IV r Car. ft cm. 2' 27% 27% .. . . . Wab. Ist pfd... 2" , - * 20 20% 1 \\ ill!.. M;l 111% I*l , l" 's 1! \Vo,t. Electri •.. 5*1% .59% -50% 5. ,% ■ White Motors... 38 2.7% 2-s ...% , willv : Mrerlind o 5% u •>-, Wil on A- C 0... 25% 28% 28% Wn.du ortb ...133 12.5 155 West. Pacific... 10% 16% 16% 16% NEW YORK LIBERTY BONOS. - Dec. 27 Prev. Illirh. Low. Close. Close. Libert.V 2.' -S 9UHI 94.38 9(.t'st 94.2,0 Liberty Dt" -is 90,3,0 Eib.rtv 2d 45.... 95.22 95.91 si .... Libertv Ist 4%5. 90.7S 9*1.30 90,.5,0 •*;.: Libertv 2d 4%5.. 9. 12 95.91 90.51 95.90 Liliertv 3d 1%5.. 97.76 9750 97.4s 97.10 , Libert v 4tb 4% s. 90,M 90 )0 90.Rtl 90.10 Victory 5,’." 1*10.06 I*iO.Ut list.lMi I'HMtl Victory 4%s 109.08 luado PKXIiJ 10*1.01 CHICAGO STOCKS. ißy Thomson A McKinnon.* Dec. 27 Open. High. Low. Close. Armour pfd... 91", 92% 91% 92 ! Carbide A Car.. 45% 44% 45% •**% i Libby -5% 6 5% 5,% ! Mont-Ward .... 15'. 15% 15% 15% I National I.eath.. 2% 2% 2 2% ! Pigglv Wiggly 50 32 % 2.0 32 Keo .Motors 17% 17% 17% 17% Sears Rti,•buck.. 5,s 5,9 .58 ~9 i Stewart-Warner. 24% 24% 24% 24% i Swift A- Cos 97% j Swift Inter 23% 25% 22% 22%

In the Cotton Market

NEW YORK. I>ee. 27—A firm tunc 1 was displayed at the opening of the cotton market here today. First prices advanced 13 t<> -Jo points on accumulated buying oxer th<‘ holiday. offerings were scattered. Japanese, Liverpool ana Continental interests bought. Aliout eight notices were in circulation early. New York opening cotton prices— January, Js.*il*o: March, 18.30 c; May, 18.03 c; July, 17.65 c; October, 10.95 c. The market ttimed firm in the last hour, closing at ;t net advance of l!t to 17 points. —Cotton Futures— Open. High. Low. Close. January ls.fio is.no i5.:,3 is.sr, -March ‘ is. is ix.ss Jx.45 is.sg May ls.tjii is.;;. - ! ls.tat ls.:?n July 17.65 17.nt* 17.01 17.ss October 16.95 17.n0 10 So 16.96 —Coton Review— NKW YORK. I>cc. 27.—Tin? co on market was under the influence toi.a.v of an a, insist unanimous bullish seuttmeut. Practically all commission houses are of the opinion the cotton is on tlie way to higher levels. This, in itself, is of decided aid in bringing about such a result, but. of course, sttcli a no j would not he permanent unless It. was aNo backed by supply and demand conditions and as to this there is some room for argument because we have a level of values that by no process of reasoning can be called cheap and when measured by the price of other commodities may bo called rather high. The fact remains that with practically no pressure from any source tt requires only a moderate demand to advance values and that s practically what we had today only a moderate volume of business. but so one-sided os to necessarily result in an advance in values. LIVERPOOL, Dee. 27.—The cotton market was closed her# today beeauie of the Christmas holiday.

STOCK MARKET TONE IS STRONG American Locomotive Touches Highest Level of Y’ears. NEW YORK, Dec. 27.—The market closed strong today, especially the railway equipment chares. American Locomotive continued In large demand, advancing to 109, a gain of about 5 and anew high record for the year, while Lima Locomotive sold at 102. an upturn of uearly 8 points. Baldwin Locomotive was 3Vi points higher at 99%. The motor shares were also in demand, Studebaker touching SI and Chandler 49'%. American-Sumatra tobacco also recovered 2 points to 33 and Corn Products rallied front 91'% to 92%. Steel common roso to St. The railroad stocks were fractionally higher. Total sales stocks for the day were 551.400 shares; bonds, $12,205,000. (By Thomson A McKinnon.) Dec. 27 The ,tock market was not particularly active today, but was decidedly strong, all groups giving a fairly good account of themselves and some were buoyant, the locomotive shares occupying the place of prominence ami establishing some new highs. Considering the character of the new movement that we have had over the holiday period, the action of the market today 'may lie considered signicant to the extent that bearish news now has but a minimum of influence. We have nail the announcement of a cut in some automobile prices. Think what a news item of this kind would have meant but a few mouths ago, ami with this we have a material increase in idle freight cars, and tills also would have keen used hut a short time ago as a good reason for further market pressure. Today matters of this kind nre just ordinary news and are quickly forgotten. The fact of the matter Is that sentiment in financial and market circles lias changed completely. We no longer think or speak of a general break-down, but everything receives a hopeful and cheerful construction, and if a thing looks l, id today it is Immeodiately followed by th thought or comment that by tomorrow it may be tletter. Tills is half the battle in * lie* market and by such sentiment bigger tilings will be accomplished whin things are more uniformly favorable than the present time. We ire still inclined to look for some ir-gularity in the market, but this should not lie contried as a bearish suggestion. infinite to favor the purchase of stocks on any fair setback. TWENTY STOIKS HER.UiK. NEW YORK, Dec. 27—Twenty industrial stock, last Saturday averaged 79.61 up .3" per cent, "wenty active rails averaged 75.69. up .5! per cent. 4 LEAKING llttl 'E STATEMENT. NEW YORK. Dee. 27. Exchanges, s27*l. 1,00 000: balances. .*a>l,*4lO.O*Nl; federal K< - „.n. Bank credit balances. $5.9,2*hi,000.

Money and Exchange

Indianapolis bank clearings Tuesday w. re it.ooo. NEW YORK. I 27—The foreign exchange market h:**l n firm opining tuiiax. Dctuiiiid St-rling w:ts !<■ hlglu-r !at '54.2" Francs rose 4% cent lines to (,ii> f.,r cables and S.**2' - tor checks. . l.ire ixtlib s were 4 47. : clo-rks. 4 16c. Bd g .ni i allies were 7!'.8.-; checks, 7 67c. M..rks u.lv;!P.c"l 2% points 9956’., *, , 1,1. r cables were 'M •>.•; .-hecks. 56 66. B\v.'.|.'ti kr"ti“u cabl-'S w re 2 4 67v , checks, ' 21 62.' MOTOIt M * I KIT I ES, rh.oux .n k McKinnon.. Dec. 27 ' 'losing— Bid Ask. Erl Ybcor- '.'%• I*_* . p.t- !..trd '•■•"*. ’ * ■ s p 'k.ird ptd. '• . t., • I • .Ti.-SS :; t . • 1 6% 6% ( ..ntim-nt .Motor, pf 1 85 9" 11 up!' i-M. ;r. I''. •• Motor Far " a * Motors 1% Motors J J% ; Ford f ' a’ lila -"9 Mftr •oni. - Nit at Mct-rs 1 1 - Ft <b rll Tc'lek >•’ I' igc Motors 1 * >'% Republic Truck s’> s * \f Tl\ E OIL STOI Ks. ißv riiopisoii A- McKinnon.* "Itening - Bid. Ask. i Atl;.tit ■ Refining ! B'.rnt -StTvmser -JJ i Bit-r .-ve i’i|H- Line J’*j . • g Mfg. <: ms i t<* m font, "il 1 (dorado 1-" i2j *5,. n* HI and <!as '• ! < *Vt Pipe Lille •*> ' 'umber! ,;.ti Pipe Line H” Elk Basin I’et- J.‘ s .’ ‘ Eureka Pipe Line Galena Signal Oil pfd l* s Gal.-na-Signal * *il ( "in 4" Illinois Pipe Line ‘ * s ''••; ; Indiana Pipe Line 1 i Merritt Oil s .'- I Midwest oil - - t Mldw.-st Refin’ng 1 National Tr r? New York ' ' >•; Northern l’ipe Lina N ,2) Ohio Oil -6-' * (klalioina P. & R 2 ‘ ~J* ‘ I Prairie *'i! and Gas .'G* Prairie Pipe Line ---. S 'l' ilpa Refining - •;•’* Southern Pipe Line South Penn "il -**? Soutlixx" st Penn Pipe Lines.. •>'* ■>•> Stan 1. "il of Indiana fy* Standard "H "f Ky.. J-J;' Ji Standard ''il '"• "1 Nel*.... l'*9 '''J Standard <il *'o. of N. Y. 3tß Standard Oil Cos. of Ohio .{•>" -*oo S\v:?n & Fiii*li J'J Vacuum . OH - *' 4

NEW YORK < t It It MARKET. (By Thomson At McKinnon.) —Dec. 27 Closing - Bid Ask. Acme Packing 50 70 Curtis Aer i, rotn I n i ‘•'•'■J Curtis Aero. pfd.... Is (ioldfield Coll -J 7 Martin Perry 17 IkN Jumbo Extension 1 *’> Imperial Oil H><d.) '• International Petroleum... 10-n Id's Nipissing _ i'ci 1 Standard Motors •‘Ns Salt Creek 12*Jt ,:! 'i Tonopah Extension 1 9-16 1 ;■< Tonopab Mining 2 .• -1 ‘ Cnited P. S. new 1 7 F. s. Light and Heat So 95 F. S. Light and Heat pfd.. !i5 1 1-10 Wright Martin - •} Jerome 2S New Cornelia 10 17 I'nited Verde 2S 1 J 29*j Sequoyah •> 10 Omar Oil 73 77 ltci*. Tire l-> 20 NEW YORK HfGARS. NKW yiiKK, Dee. 27. Raw Sugars w re easy in trade on the market today. Cubits so'ld til 3.4<tc per pound, duty paid, and Porto itieos at 3.6t10 i*er pound. delivered. Refined sugars were steady, both fine granulated and No. 1 soft selling at 5c per pound. NEW YORK COFFEE, NEW York, Dec. 27.—Coffee values In trade oil the market here today. Opening options were unchanged to 2 points higher. Rio No. 7 on spot sold at 9Vi , !< 9%c per pound. NEW YORK RICE. NF.W YORK, Dee. 27.—Rice values were steady on the market today, domestic selling at Wdi’/iC per pound. NEW YORK METAL MARKET. NEW YORK, Dec. 27. —Copper—Quiet: spot, December and January, 13c. Lead— Quiet; spot, December and January offered, F'ic. Spelter—Quiet; spot and December offered, -Fie; January offered, 4.90 c. NEW YORK PETROLEUM. NEW YORK. Dec. 27.—Petroleum prices were about steady on the market here today, with trade of rather a dull nature. Pennsylvania crude petroleum sold at $4 per barrel.

INDIANA DAILY TIMES, TUESDAY, DECEMBER 27, 1921.

New York Bonds

(By Fletcher-American Company.) —Dec. 27. FOREIGN GOVERNMENT BONDS. Bid Ask Arg. (Unlisted) 53 Sept. 1, ’45 72V4 73% Belgian 6s Jan. I, '25 94'% 95% Belgian 7Vis June 1, ’45 104 101% Belgian Ss Feb. 1. ’4l 105'% 106 Berne 8s Nov. 1, '45 ....105% 107 Chile 8s Feb. 1, ’4l 100% 101 Christiania 8s Oct. 1, ’45 106% 107 Copenhagen 5%s July 1, ’44.. 86 87 Danish Mnn Ss Feb. 1, ’46.... 106 108 Denmark 8s Oct. 15, ’45 107 107% •Canadian 5%s Dee. 1, ’22.... 92% 93% •Canadian 5%s Nov. 1. ’23.... 91-, 93 •Canadian 5%s Nov. 1, ’24.... 91 92% •Canadian 5s Dec. 1, ’25 89% 90% Canadian 5s Apr. 1, ’26 95 95% •Canadian s Vis Dec. 1, ’27.... 92% 93% Canadian 5%s A'ug. 1, ’29 96% 96% Canadian 5s Apr. 1, ’3l 94% 95 •Canadian 5s Oct. 1, '3l 89% 90% •Canadian 5%s Nov. 1, ’33.... 93 % 94% •Canadian s>%s Nov. 1. '31.... 99% 92 Canadian Os Meh. 1, '37 93% 94% •Canadian sVis Deo. 1, ’37.... 95% 97 •French tVict.l 5s Opt., ’31.... 59% 61 •French Is Opt.. '43 48% 5,9 French Ss Sept. 15, ’45 99% I**o •Italian (War) 5s 34 35% Jap (Ist) 4V>s Feb. 15, ’25.... 86 87 Jap *2dt 4%'s July 10, ’25.... 86 87 .Tap 4s Jan. 1, 31 72 73 Norway 8, Oct. 1, ’4O 108% 119 Sao I‘aulo 8s Jan. 1, ’36 100', 100% Swedish 6s .Tone 15, ’39 94% 95 Swiss s Vis Aug. 1. ’29 94 % 94% Swiss 8s .Tulv 1, '4O •....112 113 It. K. 5,U,S Ndv. 1. '22 100 100% C. K. 5.1% Aug. 1. ”29 99 99% !'. K. 5%S Feb. 1. ’37 95 95% Zurich 8s Oct. 15, ’45 106 107 Brazil 8s June i, ’4l 103% 104 French 7%s June 1, '4l 94% 95 Uruguay 8s Aug. 1, '46 102% I<*3 Argentine 7s Oct. 1, '23 97% 98% CORPORATION BONOS. Bids. Ask. Alum. Cos. of Ain. 7s. Nov. '25. 99% 100% Am. Cot. "il 6s. Sept, 2, ’24. 95. 95% Am. Tel. 6s, Oct., ”22 99% 100% Am. Tel. 6s, Feb.. ’24 99% I*n* Am. Thread os. Dec.. '2B 1* 100% Am. Tob. 7s, Nov., ’22 100% 101% Am. Tob. 7s, Nov , '23 I**l % 192% Anaconda 6s, .Tan., '29 96% 96% Anaconda 7s. Jan., ”29 99% TOO'-* Anglo-Am. "il 7'..5. April, "2.5.102 102% ! Armour 7s. July 15, ’.‘to I**l% 102 j Atlantic Ref. 6‘ .s, March, ’31.103% IMI . Bell Tel. of Can. 7*. April. '25.100% I**o% Beth. Steel 7s, .Tulv 15, ’22.. 99% 100% Beth. Steel 7s. Julv 15. '23..100 100% Fan. Pacific 6s, March 2, ’21.. 99% PHI Cent. Arg ltv. 6s. Feb.. '27.. so 90% C„ it. I. A- 1\ 6s, l'eb., ’22. 99% PH* Con. *ias Bs, Dec., '2l 160% I**l Copper Exp. 8-, Feb. 15, ”22.10" I* '% Copper Exp. Bs, Feb. 15, # ”23,101% P'!% Foppcr Exp. Bs. l ei.. 15, '21.102 102% Copper Exp. Bs, Feb. 10. ’25.11*3% I**3% Cudahy 7*. July 1.5, ”23 100% PH Fed. Sugar 6s. N’,,v. ”24 96% 97% i Goodrich 7s. April, ’25 96% 97 • ittlf "1 6,., Jul\, ”23 99% PHI% [Gulf OP. 7* Feb.. '33 102% P*3% Docking Valiev 6s, March, '2l. 96% 97%. Humble "il 7s, March 15, ’23. 99% 100% int. R T. 7s, Sept.. ”21 71 72 I< r. Ter. 6s. Nov, 15, '23... 99% I'> Ketin. *'opper 7s. l'eb,. ’.’10.... I.aided,, lias 7s, Jan.. '2l* 97% 98% Pro. tor A ;. 7s. March. ’22 ...P*> H>% Proctor A G. 7s. March, ’23...101% lot's j Pill* Ser NJ. 7s. March. ’22.100 PIP, K ,i Remolds 'is. .'tig.. '22.,P'% P***% I Sears Roebuck 7s. Oct. 15. ”22. 99'-i 99% Senrs Roebuck 7s. *'.-t. 1.5, ’26. 99 Sir.. Mir 7' .s. Mnv 13, "25 I'7*i 98% i Solxax A Cle Bs, Met . '27 P'l % ltr.’% 1 Southern Rv 6s March. !<*% 99% 8 W. Bell Tel. 7s. April. '2s.l*h Ph>% Stand "il iC.al i 7s. Jan. '3i I**s 4 1"6% Stand *'* N.l. >7s. Jan.. '25 '.''.1.104'.• I**B% Sr Paul I D5,'..5. In 15, '2.3. 98", '.<9% Swift 7s. "t. 15. '25 SIH-j 99% Texas Cos. 7s. Mar h 1 '23..p*' T s PH% .Ft lb See. 6s, Sept. 15 22 ... 96 97 ! Western El. 7s. \pril. 23 ..P's% I**3% \\h srl iciinnso 7s. May. '3l I'U'i PV%

Local Stock Exchange

-Dee 17— STOCKS. P. id Ask. ind Ry. A I.igat com M Ind. Ky .X Light pfd 75 ludpls .x s. i: pfd ** indpls .V N W. pfd 6" I minis. St. By 5,t .*> •1. 11 . T A L. I*fd 56 •J' II . I. A E com 5 T. 11., I A K. pfd 12 E T. of Ind. com F. T. of Ind. Ut pf. 7 U. T of ind. 2d pfd • 2 Advance Kunielr corn 9 ■ . Advance Ruinely l>f'l Am. *'reosot,ng ptd 62% ... Am. ' entral Ei.e . 15** Belt li. R. coil 69 *9 Belt U. R it'd 15% ... < cntnrv Biilg. Go. pfd 6-% •■ • Cittiens Gas Cos 21% Dodge Mfg. Cos. pfd 88 •Home Brewing 45 Ind Hotel com 65 ... •Ind. Hotel pfd "■% Indpls Nat. Ins •’ * Ind. Title *uarantee Cos ■ Ind. Pipe Lilies ■*' 84 Indpls. Abattoir j.fd 41 "9 •Indpls. Gas *'J .V* Indpls. Tel. com -"'a Indpls. Tel. pfd ••• •Mer. Pub. I til. |(f! 48% -s Natl. Motor Car Cos > * Pub. Sav. Ins Go 4% Rauh Fertilizer i>fd • , .’- St ind. "tl "f Indiana 88 Sterling l ire Ins. Cos ... * J* Van Ftmp Hdvv |>!d... Van I’ainp I*:<*kinsr !>i<l % 1 Van * aiU|t Prod. Ist pfd j'*J Van * 'amp Prod. 2(1 pfd l'A’ Yalidalla Coal Cos. com ■ •* 2 Vandal.a Coal Cos. I'M 4 b Wal.ash Ky. coin Wabasli Ry. I'fd BONDS. Broad Ripple 5s •'4 •/• ('itixens St. Ily. 5s *f ... - Indian *'k. Coal and Mine... ... 1W ind Coke A *ias 6s M SJ Indpls. *'. A 8 55..... v ”| indpls. ,v Martinsville .si Indpls., North. 5s 57 45 Indpls. A N. W. 5s -L Indpls. A S. E. 55.. f* Indpls. S. A S. E. "S ;• •" ludit’s. St. Ry. 4s InUplH. T. iV I. T. H , l. A. K. 5s * r j Citizens (.as ns JJ" It ilnls. Gas C*> • b<t 8* Kokomo M. A W. 5* B'.'% '.HI ind. Hotel Cos 2d 08 I"'* ... Indpls. E A IE os.. M S. indpls. Mater Cos. os. 6- WJ indpls. Yv titer >. 4- a s -4 8Mer. 11. A L. r " * rj Sew Tel. Ist *is ••• New Tel. L. D. os. 6.4% ... gou. Ind. Power 53 •Ex-dividend.

Local Curb Market

(By Newton Todd) \ )(v. 27 Am. Hominy eon* U 20 Central and Coast. Oil “ ••• * Choate Oil C0rp..... Mi Vj Columbia Fire Ins. Cos 7% Comet Auto J 2 Dayton Knbbor l nits *1 <>l Dtetorgraph Prod, pfd 40 55 p W Griffith 8 9Vi Elgin Motor Car 3 4 Federal Fin. Cos. pfd 70 SO Fed. Fin. Cos., com 1-0 fit. Sou. Prod. & Kef 5 t! Indiana Rural Credits 50 Go Metro. 5-s(le Stores com (1 9 Mero. 5 50c Stores pfd 20 27 National Underwriting .... 2Vi 5 Ranch & Lang Units 32 42 Rub.-Tex. Units 15 J 7 F S. Automobile units ON 78 Tj! S. Mtg. Cos. Units 140 100 RANK STOCKS. Commercial Natl. Bank .... 71 81 Continental Natl. Bank 10!* 110 Indiana Trust Cos 175 190 Indiana Natl. Bank 258 268 Merchants Natl. Bank 280 Natl. City Bank 105 lio Security Trust Cos 130 State Savings and Trust 93 !IS Wash. Batik and Trust C 0... 150 .... NEW YORK TURPENTINE. NEW YORK, Dec. 27.—Turpentine sold at 81c per gallon in trade on the market here today. NEW YORK JUDES. NKW YORK, Dec. 27.—I2tdes were steady in trade on Hie market here today. Native steer hides sold at 15%cand branded steer hides at lGVic per pound. NEW YORK WOOL. NEW YORK, Dec. 27.—W00l prices were again steady iu trade on the market here today.

SWINE 25 TO 50 CENTS HIGHER Trade in Cattle Shows Improvement—Calves Up, RANGE OF HOG PRICES. Good Good Good Dec. Mixed. Heavy. Liitht. 17. $7.00 s.7o<K> li.sr, $7.25® 7.40 19. 7.25® 7.40 7.15® 7.25 7.50® 7.75 20. 7.25® 7.35 7.00® 7.25 7.50 31. 7.15® 7.25 7.00® 7.15 7.40 22. 7.35® 7.50 7.15® 7.35 7.(55® 7.75 23. 7.50® 7.t>5 7.35® 7.50 7.75® K.QO 24. 7.65 7.50 7.50® 8.00 27. B.lo® 8.25 7.85® 8.10 8.35® 8.50 With receipts around 6,500, the demand by both local packers and shippers with Eastern house connections good and higher values elsewhere, hog values xvero 25@50e higher in trade on the local livestock market today. Trading was of a general nature. Some interested in flip trend of the market stated that they were of the opinion that this rise immediately f-d lowing a holiday meant nothing and that they looked for lower prices during the week. There was a fair tone to trade in cattle, with receipts around 7**o .and buying of a general nature. Prices were strong generally, but there were spots that were 20@50c higher. There were but few really good cattle on the market. One commission tuan had two loads of good steers and there was probably another load of the same quality of stuff' scattered among the receipts, while there were but few good heifers for sale. An unusually good demand for good cows, but packers did not seem to want the cheaper grades of cows as well as tiie common stuff of other grides. Veal prices sustained advances ranging from s**c. in the cave of choice veals to !?1 on the commoner grades. Receipts, at 500, were not adequate to meet the demand. There were only I<M* sheep anil lambs on the market. Sheep were steady and lambs $1 higher. HOGS. Best light hogs, 150 to 180 lbs. averaged $ s- ,„i Over 3**o lbs ....... 7.7..',* 7.85 150 to 300 iiis 77 't 8.50 BOWS ~'.167. Stags 4.5 tit 6.5*1 Best pigs, under IP* lbs s.'s',/ 5.7.5 Top 8.50 Bulk of sabs 7.IX'5 *. 7.40 —Cuttle— Prime eornfed steers, 1,300 to I.Bo** lbs i.OOitf 8.00 Good t• > choice steers, 1,200 to 1.300 Bis 5.50% 0.75 Good to choice Moors, 1,104) to 1.200 lbs n.OOfti 3.51 Good to choice steers, 1,000 to 1,100 lbs 4.5 CH 5.00 Common to medium steers, NX> to 1.000 lbs .3.00 f-f 9.00 Good to l b.dee heifers .’Petit <>-H* Medium heif. rs 4 ihm 5.00 Common to medium heifers .. 3.2.i'it 3.75 Go<>d to choice cows LOO" I 7.. Fnir to medium cows 1 no '</ 2"J Cutters * 30'./ Gunners • r 'o’o lot* —Bulls— Good to choice butcher bulls 2no .; 4 2.. Hologna bulls 2 50ftJ 3 **o l.leht bologna bulls ’J.OOGf 2.50 Light to common bulls 2.00 —Calves— Choice veals i’ PHdj"" 6ii"i! v,als 1 11 ("'.'ll •" Medium veals 9 *_* 1 4 ‘' Lightweight v, a!s *’• ' i.'.cnmof to heavyweight xc iN *>: —Mocker* onil l r*'tiers— Good to choice steers under 800 lbs 1 4 75 Medium cows 5 ,:i G* oil cows Good heifers •’>"('•/ Meciiurn to g 1 heifers • ' 1 • ' Milkers 37 <' ■( *3.00 —Sliwp and L*unh— Ewe. 1 'HPif 3 y Bucks ....... ... ***' • 2 *;....<! to ciioi lain * ... 8 t'O.'e Seconds C. <>'■. ..i l Buck l imbs "' l! ' ' 1 I'ltils tK.'.l 5"" Other Livestock t; ■ —— CHICAGO l* 27 I! 1 4 ******; mark'' 2*e./ :'.**,• high-r; l". : k • ’ sale*. #7.25*17.75; top. A' heat;. 87.. 7 5"; niedtiiin.. f7 n*'.i7 7". tight*. s’* • 7.5*0; light light-. ?7.*7. ./>; h-axy p " king sow s. Rlliootll. $6 25'"6 ”• . packing a rough, ?:• 625 . pig, ¥*.''•'' ,* 8.2.'* < tie Keeidpts. 7,"""; mark* t t. ok. 25(rfo0c Ingh r lt. .f sle*-r* Flm prime, sß.s*FitlO; medium and . .*'' . • c.r.8.75; g,.od and <dos.*-<(.9.7.' . ' ut in*>ii and medium. *‘>-.£>.25 Ho' te r . . tie Heifers. S3 2591 8 ; rows. S . ;6 : bulls. [ $3.25*(5.50 Canners nnd i 1 and heifers. $2*13.25; c,inner s’..as $2 75 r.t:: 75; veil! .oilve* $6 75-.18.50 ; f•• r steer', s■,-,/6.50; stacker suit*, 81 25-<i o •" stock, r cows and h -if.-rs. S: i.'c.i I 75. Sheep nnd lambs Receipts. El.ihh*. t. ir k*>t generally strong to 27*. hlgtnT; _■" ■! to choir** lambs sto 7,0(11 11,12.. . all and common lambs. $8(,( tii.g.'i. yearling writ, , rs. $7.75-" 10.25 ; cxm s. $3 2.5-o 575 : < uli and common ewes, $2-o3; feeder kiln!. . s;>(,/ to so. I'l.M INNATE Dec. 27. I logs Re celpl s, 7.21 W; market. Mfc idy; ;;*mx i.-s, ss * 8.25; mixed, sß’.':,; mediums. $h 2.V*i. 8.50; ligiits anil pigs. ssi...; i . gii*. $0 stags. XESW. < '.it 11. Re.-eipts, 1 too; mar ket. steady to 25 cents higher; iotlis. : steady; calves, sl2. Sln-ep and lamtis- 1 Kretdio’s, 1'"; market, str tig. ••we Si 'ill-, bucks, $2.5*1; etnib e lamas, S!O..Ni, seconds, s7.s<i; culls, sl*t 5. CLEVELAND. De. 27. lie.-” Kc. mpts 1.590; marker. 25 cents higher: _york. is. $9; mixed, $s 50(o9, medintn.*, > ; ptu-s. $9: roughs. $6; stags. #). * attle IP eeljits. 2.50; market, slow. Sheep and; lambs- Receipts. 500; market, ttrmig:! top, sl2 59. Calves Receipts, 150; mar j kct. strong: top, $13.50. EAST BFFI’AEI). Dec 27. Hogs Re cidpiH, 1.200; market slow; yorkers. Ss Mt */!t.65; pigs. $9,507/11.7.3; mixed. $9.25.i 9 50; heavies, s'.**(9 25: roughs. $6.25*16.50 ; stags. sl*|s. Cattle .Receipts, I ss than 100; market slow. Calves Receipts, less than 11*4*; market active; eutl to dioiee. s4*tll. Sheep and lambs Receipts. 1.20"; market slow; dioiee lambs, sll 75-u .12.25; cull to fair. $7-0 112.5; yearlings, $7 u 9.50; sheep, s2*t,6. EAST ST. EOT IS, Dee. 27 Hogs —Re reipts, 7,-5"0; market steady to 15c higher: mixed and butchers, $7.85*i515; good iietivies, $7.8,550; roughs. $5 75*;*i; ligiits, $8.10*18.25: pigs, $7.50*1.8.25; bulk of sales, $7 97,*t S. 15. Cattle Receipts. 3,000 ; market 15*C25c Itiglo-r; native I>.-.-f steers. $',1(0.9.50; yearling steers and heifers, 89 (q;10; rows. $3.25*1'5.75; slackers and feed ers. $3,50(0,5.75: calves, ss*l It 50; can tiers and cutters. $2(03. Sheep anil lambs--Recolpts. 1,200; market 25c higher: mat 'ton ewes, .055; choice lambs. $10.50*1 12.50; ciinncrs and choppers, $l(o2. BITTSBI'Ri.H, Dec. 27. -Hogs Receipts, I.5(K*, market, 75c(051.10 higher; prime heavies, $8.7,0; mediums, 89.67f0 9.75; heavy yorkers, $p.65(0 9.76; light yorkers, roughs, ~*ift/1>.75; slags, s.",*/ I; heavy mixed, $8.7.3(0 9. Cattle i|its. Min'; market steady: choice. $7.75(05; prime, $7.25(0 7.59; good, $7.25(07.60; tidy butchers, $7.25*/7.‘.H*; fair, .556j5..70; common, $3,50(0:5; common to good fat. cows, $2.50 *(i.s; common to good fat Intlls, s3*/5; heifers, s 1.25(5(1; fresh cows and springers. $50*1.90; veal ealves, $1.50 higher til sl3: heavy and thin ealves, $6;o:10. Sheep ami lamlis R •eeipis, 509; market, steady; prime Withers, $5(0.5.25; good mixed, sL2sfo 1.75; fair mixed, 5.'725(0 I ; eulls and common, s'•*(:l.7s; choice lambs, sl2. WHOLESALE FEED I'KICES. Ton Cwt. Acme Bran $30.00 $1.55 Anne Feed 30.06 1.5,5 Acme Middlings 30.00 1.70 Anne Dairy Feed 44.00 2.35 E-Z-Dulry Feed 35.00 l.st* Acme 11. *it M 32.00 1.65 C O. A It. Chop 28.25 1.45 Aenie Stock Feed 28.25 1.1,5 Acme Farm Feed 32.00 1.65 Cracked Corn 30.00 1.55 Acme Scratch 35.00 l.so 10-Z-Scratch 32.50 1.65 ! A( me Dry Mash 43 25 3.20 Acme Hog Feed 38.25 1.95 Ground Barley 37.75 1.95 Ground Oats 32.25 4.70 Heniliek Yellow 29.25 1.55 Rolled Barley 37.75 1.95 Ground Oats 32 25 1./tl 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 5,5.50 2.90 Meat Scraps 80.00 4.50 D Light Scratch 36 00 1.85 FLOCK AND MEAL. E-Z-Bnke bakers’ flour in 98-lb. cotton bags, $7.80. Corn meal in 100-lb. cotton bags, $1.65.

I WHEAT VALUES CLOSELOWER But Little Interest Is Shown in Trade in Grains. CHICAGO, Dee. 27.—Wheat futures were lower on the Chicago Board of Trade today. General interest in the market was small. There was a lack of selling pressure in the pit. and a fair (•lass of buying. I’rovisious were firm, hot dull. December xvheat opened at $1.13% and closed down l%c. May xvheat. opened at $1 18, up %e, and closed down %■•. Julv wheat opened at $1.05%, up %c, and closed down %c. December corn opened at 49%c, down %o and closed up %<;. May torn opened , at 55%c, down %c, and closed down 1 %c. j Jilly corn opened at 56%c and closed down %e. December oats opened at 31%e and 'closed up %c. May oats opened at 39 1 ,... jup ■ h'\ and closed down %e. July oats opened at 40c, up %c, and closed up %c. •By Thompson McKinnon.) r Wheat The strength of the xvheat sit - ! nation found expression today in a little i further early advance. The cautiousness of the trade showed in profit-taking sales, putting tiie house in order for the revised Government figures on alt grains, due tomorrow, after the close. The visible supply was a disappointment to holders in showing a liberal increase where a decrroi.se had generally been expected. Trade was of very small proportions: Cash wheat, was unchanged to a little higher. Export business was of t lie holiday size’and nature. Germany ; was reported to lie bidding for both wheat and rye, Imt somewhat out of line. The revised Government figures are supposed to show an increase in the | final wheat, crop and a decrease in the [corn and oats estimates. The easy close ease from local selling, part of which I was by the early buyers. Bending the ! Government figures, price changes will probably he unimportant. Horn and oafs—The Russian demand has had a strengthening effect upon the market. Tomorrow, wo again get further | purchases. Some corn was sold for di- | reel export to Germany. The country I offerings are holding moderate. Corn is evidently held back for the lower : railroad rates to bo in effect next xv-.-ek. However, the situation is generally so t.iYornhlc f**r the pressure being removed trout tit., corn market by tlo-s.. constant relief p'tirehnses. tl-at we feel quite sure tin- tendem . of Dotli the corn and oat market will he upward. Provisions Provisions were s.tcadv, will! In.gs 20 'o 30 rents higher. The d.'--mai'd for prodm-t is satisfactory and wo >'*'• no reason t-- expect lower prices. On th.' . "lttrary. the market should show some firmness. CHI* \*.(t 1 . If \I N TABLE. I>ee. 27 - WIILA'I "p.ii High. Low. Close I”. .. 1.13% 1 IP. |l2 112 Ma lls 1.18 t 10% 1.16% •l"l' ... J.n.5% 1.00% 1 Os! . l II) • "K\ Dec ' .16 ; ,ts\ .% g M.i> V,i, V,% 54%. ..*4*.. July .VP. .57% .56% .56% "ATS— 8 Dec 31% .341 . .54% .54 1 4 May .'o .::..% ,;;s .8 % Julv i" nj% 3pi., p/p, p"Rk ' ' I.AKD - .f tn s?i s <; 77 jq 77 May .. 9.22 9.22 9.17 9.20 RIBS - •lai .... si.r, vis', xfp s ft" M.iv 8 /2 8 25 R -2 S “•* RYE I"" ... N5 55% 84% 8(1, Ma> • .91% .91% .91 .61% •Nominal. < in* \*,*> < \B|| <*RAIN. 1 lIK Ai.m Dec .-7 Wheat No 4 red, 81 15 I N". 2 hir l y.-110 v. sl.t4%*it 156, ; 5' 3 hard y li-.xx sl.ll %*/ 1.12 *... Coni No 2 xvhit* and No 2 ycl- ' 1 N’l. 3 lit! x••• j and N • X ■ ;; v. hlto ' ' ■ No. 4 • :tjv.l. t7-./47%c; No 1 white 4 * ■; - . I * • No. 2 v hdc '(;.8 .” . N" 3 white, .",4%*/ 35 ~ No ix\ hit-., ;;2*/;;ii,_.c. Tiil EIHI 4.rain I’ltlt ES. '"I II"*. He '27 XV It. at Cash. $1 23 i-• *: I',' Ml! r. $1.25; May. $1.29; July, 1 • 1 1 ash. 52'*.< .55e. o.i ("ash, " ! . R." Cash, 60.-. Bariev - < a li, ti'i , I’HIIHKI MARKETS. * !•> i! msen a McKlnnon.i Dec. 27 I! F* 'la I I‘T.B XX hear. *' >rn < mls. 8’ .ioscpll 18.1 *i * '29 (SSI 7,.000 52 ' *• 510.1100 17*l/llhi M ' Ipotis . 2'*8,1 111 11.-.IHHI p-J/MI Hoi ' h .... 12.0i,- 17.0‘#| 10/Hip ■ ' 1944. o’ i,i./ 0 T.'ll'.io .. . t.OOI JS/HHI 1.000 il/ro 52.'4*0 12. (tOO K Ci' .v - K-oO Itr.i.iHxi 20.001 I" -r * ... 100 i*,7,001 76.0- to * i" ha 61,000 17s/hiii 3(),*MNi Indianapolis . . ... 126.*<** 5*4.000 T- 1 .Is . . 6!6."< 1 i 7,36.000 5 ir igo ■ 11.**"** 1.013,0*10 7*4IH"K( Sit 1 I'M ENTS - \\ heat. * '"Tn. Hats. S'. .1 .s.-ph . . 2.'l.**o*> 17.000 I'tli, (.'a .... 20/141 328,000 118.0110 Mil < a pel is .. T'I.OiHI 80.000 71 OOP loilai I* 3* ono >t. 1.,,;>1s ... 29 .*>*<) 25.001 3*4,* I*o i’td-' i,i 17 **" l.ooi* 4.01*0 I ..•'!'.•>! 2.000 4,01 • l\ : *'. ty . 117,0(9 11,000 6.0011 I', 'f a l.oo* 112.05 i 54.*4*0 ■ ■, ...... 32,fk )0 97.000 12" 10 I loiiutiapcli.s 1.(4“i 56.00" 28,1 <*o '1,0:: Is .... .".i9.**(*lO 745.00** ;4.T2,0*X, I Y.-ur ago . .V. ;.0 > iC.Ca 253.000 Cl.! \ 14 XN< *llß heat. Corn. Oats. New %.rk 120.<i**0 35,000 Balt imorc 210,01 * • Tot ,% 330.000 35,000 ago . 676,000 INI*! \N \ I***ElS CASH GRAIN. —Dec. ’27 - Bids f,,r car lot ’ of grain and hay at. the call of the li Jianapolis Board of Traile xvere: Wheat—No sales. Corn -Easier; No. 2 white, 7H %*J.s'2c; No. 3 white, 49(r(50c ; No. 4 white, ls*i ■|si ~*; No 2 ydlow. 7, 1 (iis2c ; No. 3 yellow, 46' .-<(.'■**<•; No. 4 yellow. 4S*i49e; No. 3 mixed, 51*1.51 %e: No, 3 mixed, 49*(.50e; No 4 mixed. 48*/48>..c. (tats -Firm: No. 2 white, 3S*i3S%c; Nii. 5 white, 56*;36%c. 1 lav—St.-ady; No. 1 timothy, $17.50*/ Is; No. 2 timotl.v. Sl7*/17.7i0; No. 1 light clover mixed, $1650*/t7; No. 1 clover, sl9*/20. —lnspections Wheat—No. 4 red. 1 car: No. 3 hard, 1 car; sample. 3 cars; total, 5 tars. Corn—No. 2 white, 1 car; No. 3 white, 13 cars; No. 4 white, 12 ears; No. 5 white, ! cars; No. 2 yellow. 3 cars; No. 5 yellow. s cars; No. 4 yellow, 22 cars; No. 5 yellow, 14 cars; sample yellow, l ear: No. 2 mixed. 1 car; No. 3 mixed, 2 ears: No. 4 mixed. 7 ears; total, 88 cars.. Oats No. 1 white, I ear; No. 2 white. 9 ears; No. 3 white, 18 ears; No. 4 white, M ears; total, 749 cars. Rye—No. 4, l car. Hay—No. 1 timothy, 1 car: No? 3 timothy. 1 car; No. 1 clover mixed, 2 cars; total, 4 ears. WAGON WHEAT BRICES. Indianapolis flour mills and elevators today arc paying $1.12 for No. 1 red xvinter wheat; sl.lO for No. 2 red winter wheat and according to test for No. 3 Oats are quoted at 25e for No. 3 white or better. HAY MARKET. The following are the Indianapolis prices for hay by the wagon load, delivered : Hay-Loose timothy. $15.50@17: mixed hay. $14.50*/; 10; baled bay, $15.50*1*16.75. Oats—Bushel, new, per bushel, 32@35e. Corn—Old, per bushel. 55fij'60c. CLEVELAND BRODI CK. CLEVELAND, Dec. 27.—Butter—Extras in tubs, lOfti 19%c; prints, 50*io0%e; extra firsts, 4S*(iß%c; firsts, 47(u47%c; see- j otitis, 39%*/.40c: packing stock, 25((i20c. j Eggs Fresh gathered, northern extras, ; stc; extra firsts, 53c; Ohio firsts, new! cases, 51c; old cases, 50c; Western firsts, new cases, 19s. Poultry—Live heavy fowls, 25*/27c; spring culls, 10*/lSc; spring ducks, 50*/320: turkeys. 50c. Potatoes —Michigaus. $2.80 per 150-lb. bag; Early Ohios, $1.90 per S-bit. bag. Sweet Potatoes —Jerseys. $2.10 per hamper. TOLEDO SEED PRICES. TOLEDO, Dec. 27. Clover Seed—Cash .and December, $13.75; January, $13.25; February, 15.30; March, $13.20; April. $12.70. Alsike —Cash and December, $11.30; February and March, $11.35. Timothy—Cash, December and January, $3.12%; February, $3.17%; March. $3.25.

Weather The following table shows the state of . the weather at 7 a. m.., Dec. 27, as ob- | served by U. S. Weather Bureaus; j Station. Bar. Temp. YVeath. I Indianapolis, Ind.. 30.36 27 Cloudy Atlanta, Ga 30.28 t‘2 Cloudy I Amarillo, Tex 30.16 36 PtCldy i Bismarck, N. D.... 30.49 - S Clear j Boston, Mass 30.18 25 Cloudy j Chicago, 111 30.42 14 Clear ; Cincinnati, 0hi0.... 30.38 26 Cloudy 'Cleveland, 0hi0.... 30.30 28 Cloudy ■ Denver, Colo 30.28 21 (’tear j Dodge City, Kan... 50.56 22 .Clear I Helena, Mont 30.1t* 36 Cloudy Jacksonville, Fla... 30.26 54 Cloudy Kansas City. M 0... 30.42 24 Cloudy 1 Louisville, ky 30.36 32 Cloudy | Little Rock, Ark... 50.39 5,6 Clear | lids Angeles. Cai... 30.08 5s K;ti:i Mobile. Ala 30.2-1 59 Cloudy ; New Orleans, La... 30.26 5*4 Cloudy New York, N. Y.... 50.22 28 Know Norfolk. A'a 39.2 • s'. Cloudy Oklahoma City 30.5." 28 Ptt'biy Omaha, Neb 30.1N Is I'l.ntdy Philadelphia, Pa... 50.24 5.0 .''i">w Pittsburgh, Pa 59.28 39 Cloudy Portland. Ore 29.80 34 Snow Rapid City, K. D.. 39.32 10 Clear Roseburp. Ore 29.74 3(4 I’bmdy Sail Antonio, Texas. 30.24* 54 Clear San Francisco, Cal. 29.92 50 Rain Sf. Louis, Mo 30.38 28 PtCldy St. Paul, Minn 30.46 2 Clear Tampa, Fla 39.22 6" cloudy Washington, IX C.. 30.26 50 PtCldy IYEA THEU CON DITIO NS. During the last twenty-four liours rain lias occurred in the Pacific and Great Plateau regions in connection with a ilisturbuncoi over tiie Western coast. Elsewhere throughout (lie country, except In widely scattered areas, generally fair weather has prevailed, it is a little warmer in Eastern sections and over much of file far Northwest, and a little colder in the upper Mississippi Valley, where a field of high pressure is present. A depression center lias made its appearance in middle-western Canada. WHITE RIVER CONDITIONS At 7 n. m. today stages in White River were as follows: Indianapolis H.O, falling; Elllstnn 22.8, stationary; Shoals 23.5, rising; Decker 19.7, rising. Tiie river in file middle channels arc now near crest, but Hie rise in the main stream will continue at a slow rate for several days longer, reaching about 22 to 23 feet at Decker. INDIANA HIGHWAYS. Highway conditions have deteriorated during Hie week. In the southern and central portions of the State heavy rains have washed the roads and raised many streams, causing overflows. Along the Ohio River stretclies of highway are under water and impassable. Small patches of snow and ice tire on the roads in the northern districts. Except as indicated above. Improved highways are in fair to good condition. J. H. ARMINGTON. Meteorologist, Weather Bureau.

CROP VALUES CHECK BUYING BY FARMERS Farmers Turned Down by Country Banks, Who Have Loans Fp to Limit. WASHINGTON, lie'-. 27 The story of business conditions xvhi.'ii coin..' from tho tone oorhors of the I'niUsl States is that of continuing stagnant markets for all farm commodities, coupled with prices bdow the co-t of production, says Art lie r Wall Douglas, chairman committee on statistics, 1 nited StateChamber of <’ommer'J'he situation differs as to localities in degree rather than in kind. Farmers are buying only tilings of immediate and pressing necessity for the very good re;isnn that most of them have licit.., r ready money nor credit. They af -n an economizing mood that has taken grim Isold upon then). Country _ banks ar** lofliit-l up r 1 tiny t!"em is >aba c(lie statements of many observers is that "getting money from bank-- j*r any p’tri Otto is Imp—B'le Busines- i> (|t)ict *ll tiie soring ''!>''•■ States, esjte. ially wtier" the binc" ";;c poor or xviiere the t|ualitx of the wa. at i,„t Much I'"- same siiutia. prevails xvltere e*.rii i- t o* I'titu'l ■ nwuiex crop, nnd where its prat is - loxv that it is tragic in ii> cite.-: ... and <ll tin* of in* tarui’ Th,. price i' now far la-low w ant it wn • during its high period in. war times. i These comlitlons account t-r i'O-.r bu-i li.'ss in tlte spring wlieat Str.t-s .*t Nortlnvest and tiie c. rn growing > tiolts of tiie Middle West. . (n'asoii for th* Lul\ ot .1 hi *•* demand (or corn is the enormous er t t ,f t)is ui*r*al iTmlUfcil tin*' year •> 1 i;i South, more tiutn enough f-r its own, ii•**(!s. wlion in tin* I'.ist it thv Miri'lus i urn Static ,! id ; 1 *T liivostork. wheat and are onl> frill* liiirlior proportion:!:* ly in prif * t !i:in corn and oonsonuenliy thcr is n* ♦ ;; uii reason savo lUMussiiy t* soli th nn. 1 ,i;1 is about the only reason that a^ricju:urai commorlitios are coming to market ni such volume as now prevails. Matters ar** somewhat her ter in the Southern States, although th** reviit dine in cotton put a crimp in that 4'‘n oral buying which hint --mt w*il umlci way. This buying was als * aftectod by the revelation that an official estimate 01 this year’s production of cotton was apparent Iv wide of the mark. As always, there arc many minor causes that relieve :t:.d alleviate th stringenev in the agricultural situation. , There Is tiie dairy cow and the poultry bird. whose products furnish mue.i monev to the farmer on tli • " hole. ‘ >*••;•• are fruits iu the Northwe. tern mounttun and desert States and in Calitornia. There is garden truck in the Unit Mat* - and on the Uaeifie Slope. There are many minor props rice, beans, cranbonio •)>'•. sweet potatoes whose use and mat a ' tbeing extended by drying and preserving processes. There is tobacco, wii -re it is selling, as in North Carolina and Virginia. But where it is pooled, as in Kentucky and Tenness'-e. tliere is a dead lock between buyers and sellers "i>yriglit, 1921, by I’ublic Ledger * ontpany. t INDIANAPOLIS PRODUCE. Butter —Local dealers are paying. 40*? 41e per lb. for butter delivered in Indianapolis. Eggs —Loss off. 4ic. Butter—Packing stock. 17e. Poultry—Fouls. Jo(q23c: springs, 19c; cocks, 11*/12c stags, 13c; voting lion turkeys, s lbs. and up. ; 6 ; young tom turkeys. 12 lbs. and tip, 38c; old tom turkeys, 33c; cull tiiin tur- j keys not wanted; ducks, 4 lbs. and up. 16s; ducks, 4 lbs. and up, ise; geese 19 j Ills, and upt4c; rabbits, drawn. per j dozen $2.59; squabs. 11 lbs. to dozen, .8/4; | young guineas, 2-lb. size, per dozen, $7 @8; old guineas, i'er dozen, $5. Butterfat —Local dealers are paying ♦2e per pound for all butterfat delivered in Indianapolis. SWINE SHOW BIG ADV YNCES. I’ITTSIU’UGII, Dee. 27.—Hog prices here today jumped from 75 cents to s!.stt ; per hundredweight. The ordinary fluctuation is five to fifteen cents. The big advance was due to a glim run and a flood of boxing orders, xvhich could not be filled. Heavyweights showed 75 cents advance while pigs, ligiits and mclinin kinds xve Be anywhere from $1 to $1.50 higher than Saturday's closing price. Heavies sold at $8.59*/!*.50 and the light and mediums at $9.05((/9.75.

Money to Loan on Mortgagee STATE LIFE INSURANCE CO '££CITIZENS GAS STOCK"™™" SELL Common and Preferred 415 LEMCKE BLDG. TODD

OPIUM RESORTS, IN MOST CASES, DENS OF FILTER | Hangings and { Oriental Splendor Not in j Evidence. S0?1E OFFICIAL FACTS : i j NEW YORK, Dec. 27!—The spell o 7 the ! poppy groxx s stronger. Gj-iiini smoking is on the increase in ; Xexv York City. Certain districts contain dens where ; poor humans II - fettered in wreaths of 1 smoke which arise lazily from elaborate I opium “layouts." | Opium—(Jen—what the words suggest! ! A wicked and gorgeous luxury, a dim i Oriental splendor, cushions of cloud-like [softness, deep piled rugs and magnificent t hangings. Thus liytton writes of tho | sumptuous “joint'’ where a pipe ands pillow xvaft visitors off to dangerous . heavens. I But fact writes of opium dens, too. ! Fact writes on blotters in police sta- , lions. Fact records as the predominating sea- • tu re—dirt. i From no loss a person than Dr. Carle- | ton Simon, commissioner of narcotics of I the police department, xve have authority : for the statement. “Such ‘joints' are sordid, always. I want to dispel the idea that they are fascinating,” l>r. Simon says. “Real dens have not even furniture to garnish their squalor. Wet sheets hang against the doors to keep tho fumes in%ide. The hangings do not consume the ; smoke, but keep it from leaking out and tints betraying what is going on as well as preserving the atmosphere d*A sir. and by vi itors. Often these sheets ar I wet with vinegar to disguise the odor. ! "In all the many raids I have witnessed on ‘joints’ where women of the underworld gather, marvelous hangings and the divans of great resiliency do not exist. * "liirt is always Ihe predominating fea* -lire. There may lie a plain Jap mat on the floor and a dirty mattress upon that. Often the mattress upon which smokers recline is thrown over a ‘horse.’ This is ;t support which holds up a narrow flat board. ! CAN’T AFFORD | ' FINE FI'RNISKINGS. "Then there are places kept by priimtff ■ individuals which can be had for ‘bop’ parties. Most of the-e parties are formed among the white lights. Tessie, Moonie, Jitn and Hurry decide to go to the flat of some person whom they know will ; rent them the place for a smoke. •'Needless t" say these establishments ; can't be furnished expensively, for the occupant must move often. They contain whatever the unfortunate who is running them happens to possess. -But there is one elaborate feature, the smoker's pipe. Tobacco smokers take pride in tboj r meerschaums. They love to color them, and keep them, j “The 'hop' smoker dotes on his pipe. It is often exquisitely carved. Here is one with carat emeralds studding its > surface ” Tiie little affair in which to burn hops % ntit |tcl t" a long ivory pipe. looked is if carved from dark walnut. But the crab shaped lamp xvas of dark jade, against xvh' \ tiie txvo emeralds twinkled. : maliciously. “There are two classes of smokers who patronize these places. One comes because the drug drives him—the othm: mk id be angr^^ 1 bin an addict. He is on% nevertheless. “I- pcctor John C ughlin. possibly LM9 greatest detective in the United States today, knowing every crook in every line, told me that if you go to an opium parlor you arc bound to find ...me crook who has just made a big •h int ’ They go to deep off the nervous te"n-inti which has accomplished the •Job.’ ■Of course, many men who smoke# I;five no criminal records, but the majority xvh" *1" smoke are on the road to have their names written on a police blotter. PENALTY SHOULD RF. Ml < II GREATER. Discussing the proposed petition td Cengr-ss which xvos outlined 8t the An'i-N ;retie Commission in San Fran* , cis.-n lately. Hr. Simon said: "They propose a minimum penalty of one year for drug dealers. I say make jit twenty years and rid the country of ! this gentry. “\Ve ninsf prevent exporting, so tho same drugs won t be smuggled back to r from South America or sotno other ' place. \Y" should not import or oxport, but grow what we need iu CalW : fornia. “The Pardo Commission is behind me in believing tint dealers should be treated more harshly. We have now a minimum of txvo years in the penitentiary. But lot me tell you of a recent ease in which ti man was sentenced to two years, He had made sl3*).*(**o in a short time selling drugs. He laughed at us and -aid: 'What do 1 care for two years in .ii 1 "r’ Os course not. Why should lie? ! Hi* has a fortune to spend when he comes out. lie ought to get twenty years. "We should pass a laxv making dr |jt selling ;t constructive treason against thlP life and liberty of the American people . and make tiie penalty from ton to tweu, ty years. Then it would stop.” BIIIC AGO PRODUCE. CHICAGO, Dec. 27. —Butter—Receipts, 8.6: u mbs; creamery extra, 42%e; firsts, i .".s*i iO' ji-; parking stork, 23C<i25c. Eggs Receipts. I<* eases; current receipts, ! 15(//47c; ordinary firsts, 42<g44c; firsts, I ss:*t)4oc: checks. 2S*G>9e: dirties, 30@32c. Cheese Twins, new. 11.*:%c;I I .* : %c; daisies. 20*S 2* >••••,e; Young Americas, 2!c; longhorns. ! 2c; bricks, 17%e. Live poultry—-flit-keys, 49c; chickens. 21 *(2se ; springs, i 21 and 22c; roosters, 16*4 t.Bc; geese, 25@20e; ! ducks. 28 -i 26c. Potatoes —Receipts. 38 cars; Northern Whites, $2<g2.20 per 150I Good Investments, XIA in 4551, / f Gas tF \ jj f Company \ \ jf of Indianapolis % Y | / I' r Cumulative \ 1 * Preferred Stock j I \ Exempt from Indiana and Federal Normal ITT YcVJV Income Taxes Jjyi Yi6ld 2nd Floor Fletcher American Bank Bldg, Indianapolis.