Indianapolis Times, Volume 34, Number 204, Indianapolis, Marion County, 5 January 1922 — Page 9

RECENT MARKET BREAK RESULT OF SENTIMENT Tuesday’s Decline Failed to Touch Fundamentals of Business. SUGAR STOCKS ADVANCE Special to Indiana Daily Times and Philadelphia Public Ledger. By MONITOR. NEW YORK, Jan. s.—The market in every respect served to systain the conclusion that the sharp general break of Tuesday was the resuH chiefly of technical and sentimental influences, a eompanied by the effort to take down on the first business day of the new year some of the profits accruing from the operations of 1921. At any ratee, there is nothing in the situation that tends to show that the decline of Tuesday touched the fundamentals of the business or financial situation. The latest news from Chicago indicates the existence of a healthier banking condition, and as a result of this the grain markets recovered from their attack of nerves and cotton also displayed good rallying power. It was rather evident from the outset of the market that the selling which was such a disturbing feature of late Tuesday afternoon, was making its appearance only , scattered liquidation in a limited nu. 3 of issues. It was not long before the list began to steady itself. Selling persisted in General Motors, which made anew low level in anticipation of unfavorable dividend action which was confirmed later in tho day. Kelly-Springfield sold off still further, but came back well in the afternoon. The strongest stock in the morning was American Bent Sugar, but as the session progressed all the sugar stocks turned firm and a sharp advance resulted under the leadership of American Sugar and Refining. It is not perhaps unlikely that the banking element favored a recovery. The rate for call money dropped to 4 per cent after renewing at 5%. This development was a strong factor in restoring conJence. The steels turned quite strong in the afternoon on reporis of large orders being placed for rails. Another influence was the emphasis laid by the Iron Age in its weekly review upon the depletion of stocks in thi3 country, and the necessity of consumers for going to the mills direct to obtain their requirements.—Copyright, 1922, by Public Ledger Company. WALL STREET GOSSir BY MONITOR. Reports of unfavorable action to be taken by the directors of the American Sugar Company on the preferred dividend were denied officially by President Earl Babst. An outstanding short interest of large proportions took fright with the result that the price of the stock advanced more than four points. Trading was in large volume, sales of 3,300 and 2,400 shares in single blocks being recorded at 58 and another block of 2.000 shares changed hands at half a point higher. It is reported the outstanding short interest in American Sugar as well as in some of the minor sugar stocks is larger now than at any time in recent months. There has been some discussion of the action to be taken by the directors of the International Nickel Company on the preferred dividend. Both common and preferred stocks have been weak on selling reported to be for an estate. In one influential quarter it is said there is no cause for uneasiness as to the payment of the next diviajnd on the preferred, but that after that conditions will determine what action will be taken. During the uncertainty of the early market, Sears-Roebuck was consistently strong International Harvester was nearly a point higher than its previous close at the opening and advanced farther also on buying reported to be for Chicago account. The assistance rendered last week by the president of Sears-Roebuck has changed the status of that company in the opinion of some usually wellinformed houses.

The Iron anil steel reviews contained a pood deal of optimism for the future of the industry. Coincident with the publication of extracts from them was the announcement that the Pennsylvania Railroad Company had placed an order for SO.cOO tons of rails for 1022. and that the Japanese government has purchased 13.0(H) tons of rails. These statements appeared at a time when the general market was showing signs of improvement anti brought buying orders into the steels and steel equipments. Gains of one to more than two points were registered under this buying, and were held generally to the close. Advices from Cannes indicating that a basis for agreement in principle bad been reached in the discussion for stabilizing foreign exchanges was without effect. Introduction bv Senator Owen ot' a bill to amend the Federal Reserve Bank act to permit the organization of a Federal Reserve Bank for foreign transactions embodying in principle the plan of Frank Vanderiip, likewise caused little comment. One banker expressed the opinion that this country is doing all that, it can do and that no foreign banking project sponsored by the United States could exercise any greater influence. There is a very definite sentiment in the banking community against involving United States gold in any plan for the stabilization of European currency. It is admitted there is little chance for redeeming the great masses of various paper currencies that have been issued by foreign governments. Any attempt, it is pointed out, to stabilize these currencies must rest on the fundamental value of gold and the flow of foreign trade. A uniform standard of value could not be maintained unless imports and exports of a given country are sufficient to result In an interchange' of international monetary units bankers here say. Stabilizing exchange without assurance of a free flow of goons would be without effect. There is an inclination among bankers to regard any plan of the kind as an excuse for obtaining gold from this country. Baldwin Locomotive, after making an early low' just under 94, closed at 93. The volume of trading was comparatively small, but during the last hour several sizeable blocks of stock changed hands when it became known that the Polish government has paid the semi annual interest on its bonds he'd by Baldwin. Another e-'ho of the Stutz corner was heard in the tiling of a suit against Allan A. Ryan by his sister-in-law, Mrs. Caroline S. Ryan for $1,7(15,7(10. Similar action was taken last week by Mrs L. Townsend Burden. D -images arc asked for accrued profits which disappeared in the final settlement of the Stutz corner. It was reported that Studebnker was being bought for interests identified with the company. Most of the selling yesterday afternoon was for the account-of a large professional operator, according to reports from the floor. Call money after opening and renewing at 5V 2 per cent declined to 4 per cent just before the close. The return of checks through the clearing house in connection with Jan. 1 payments has resulted in a temporary accumulation of funds, bankers said in explaining the decline in rates. Directors of the General Motors Corporation met and decided to pass the quarterly dividend due at this time on the common stock of the company. This action was generally expected in well iufermed circles—Copyright, 1922, by Public Ledger Company. TOLEDO SEED PRICES. TOLEDO, Jan. s.—('lover seed—Cash, st 4; January. 51395: February, $15.00; March. $13.45: April, $12.50. Alsike — Cash. $11.40: February and March. $11.50. Timothy—Cash and January February, $3.22‘£ ; -March $3.30

N. Y. Stock Exchange j (By Thomson & McKinnon.) —Jan. 5 Prev. High. Low. Close. Close. Allied Chem.... 50% S(S 56 50% Ajax Rubber... 16% 16% 16% I(T% Aiiis-Chelmers . 39% 38% 38% 38% Am. Agricul.... 31 30% 30% 30 Am. Beet Sugar. 30% 34% 34% 35% Am. Bosch Mag. 34 33 % 33% 34% Am. C. & Fdy. .142 142 142 145 Am. Can 33% 32% 32% 33 Am. H.&L. com. 13% 13% 13% 13% Am. H AL. pfd.. 60 59% 59% 59 Am. Ice ........ 8V 78% 79% 81 Am. lilt. Corp.. -iO % 38% 38% 40 Am. Linseed.... 30% 29% 29% 30% Am. Locomo... 105% 102 102% 105 Am. Sm. A Ref. 44% 43% 43% 44% Am. Sugar Kef.. 60% 57% 58% 58% Am. Sum. Tob.. 34% 33% 33% 33% Am. Steel F. . 32% 32% 32% 32% Am. Tel. & Tel. 115% 114% 115% 114% Am. Tobacco ..131% 129% 129% 131 Am. Woolen .. 79% 78% 78% 79% An. Min. Cos. . 49% 47% 47% 48% Atchison 92Vi 92 92 92% At. G. AW.I. . 30% 29% 30 30% Bald. Loco. ... 96% 93%' 93% 96 B. * 0 34% 34% 34Vi 34% Beth. Steel (B). 57% 56% 56%. 50% California Pete 45% 44% 44% 46 Can. Pac. Ry. .119% 119% 119% 119% Central Leather 30% 29% 30 30% Chand. Motors . 49% 4i% 4i% 49% C. A 0 55% 55 55 55% C. M. A St. Paul IS% 18% 18% 18% C. M.&St. P. pfd. 32 31% 31% 32 Vi Chi. A North... 62% 62% 62% 63 C. R. I. A I'ac. 32 31% 31% 31% CRIAP. 7%pfd 84 84 84 84% Chilli Copper .. 15% 15% 15% 13% Chino Copper... 27 26’% 26% 27 Coca Cola 42% 41 41% 42% Col. Fuel A 1... 26 25 25 25 Columbia Gas.. 65% 64% 65 63 Columbia Graph 2% 2% 2% 2% Consolidated G. 90*% 90% 90% 90% Continental Can 47% 47% 47% 46 Cosden Oil 34% 32 32 34 Corn Products.. 93% 92 92 93% Crucible Steel.. 66 64% 61% 65% Cuban Am. 5.... 16% 10 16 15% Cuban C. Sugar 9% 8% 9 9 Del. A Hudson 10S 10S IDS 10S% Dei. A Lack.... 119% 117% 118 119% Erie 10% 10% 10% 10% Endicott 77% 76’% 76% 77% Famous Players 77% 75% 75% 76% Fisk Rubber Cos. 12% 11% 12 12 Geu. Asphalt .. 62% 57% ,58 62% Gen. Elec 138 '4 137% 138 138% Gen. Motors 8% 8% S% 9% Goodrich 30% 35% 35% 35% Gt. North, pfd.. 73 72 72 73 Gulf States Steel 47% 45% 40% 45 Houston Oil .... 75% 71 71 74% Haskell Barker. 77% 76% 76% 77 Illinois Central. 98% 98% 95% 98 Inspiration Cop. 35% 38% 38% 38V. Invincible 0i1... 13% 12% 13 13% Indiahoma 3% 3% 3% 3% Int. Harvester.. 81% 86' . 80% 81% IntT Nickel 11% 11% 11% 11% Inter. Paper.... 51% 49% 49% 51 Island O. A T.. 2% 2% 2% 2% K. C. Southern. 22% 22% 22% 23 Kelly-Spring. .. 36% 35% 35% 36% Kennecott Cop.. 26% 25% 25% 26% Lack. Steel 47% 45% 45% 45% Lehigh Valley.. 58% 57% 57% 57% Lee Tire 27% 27% 27% 27% Loews Inc 12% 12% 12% 12% L. A N 108% 108% 108% May Stores 104 li*4 104 105 Marine com 13% 13% 13% 13% Marine pfd .... 64% 63% 6-1!* 64% Max. Motor ill) 12 12 12 12 Mont-Ward 14% 14 14 14% Mex. Pete 111% 107% 108% 111-.. Miami Copper.. 26% 26'-. 26% 26% Mid. S. 0i1.... 13% 12% 13 12% Midvale Steel.. 30% 28% 29% 28% Mo. Pacific 16% 16% 16% 16% Mo. Pac. pfd.. 41% 44% 44% 45 Xat. E. A Stamp 35% 34 34! i 85 Nat. Lead S6 85 85 .... Nev. Con. Cop.. 14% 14% 14% 14% X. Y. Central.. 73% 73% 73% 73% New Haven 12% 12% 12% 12% Northern Pacific 76% 75% 75% 76% Pacific Oil 46% 44% 44% 45% Pure Oil 36% 33% 33% 36% l'an-Am. Petrol. 51% 49% 4<j% 51% l’enna. Ry 35% 35% 35% 33% People's Gas... 61% 61% 01% 01% l’ierce-Arrow .. 13% 13% 13% 13!'. Pierce Oil 11% 10% 10% 11% Pittsburgh Coal 01% 61% 61% 01% l’rsd. Steel Car. 63% 63% 63% 63% Pulmn. Pal Car. 107% 105 105 106 Ry. Steel Spgg.. 97% 95 95 96 Kay Copper 14% 11 % 141% 14% Reading 72% 71% 71% 71% Rep. Irn. A St!. 54% 52% 52% 51 % Keplogle Steel.. 27 20 26 26 Kyi. Dch. N. Y. 50% 48% 48% 50% Sears-Roebuck.. 65% 61% 62% 64 Sinclair 19% 19% 19% -'.1% S. Shelf. S. A I. 38 37 .37 56% So. Pacific .... 78% 7x% 78% 78% Southern liv 18% 18 18 18% Stand. O. Cal.. 95% 92% 93 95 Stand. O. X. .T. 175% 169' 4 170 175 St.L. A S.F.com 20% 20% 20% 2) Strom. Carl... 36% 35% 35% 37% Studebaker .... 82% 79% 79% 82% Tex. C A 0i1.... 25% 23% 25% 25 Texas Cos 44 42% 45% 13% Tex. A Pacific.. 25% 23% 23% 26 Tob. Products.. 63 02 02 % 62% Trans oil 10% 9% 10 lu% Union oil 18% 17% 17% 18% Union Pacific...l26% 125% 125% 120% 11'nt. Ret. Stores 51% 5"% 50% 511, r. S. F. P. <'or. 9% o'. 91 . 9 . [Cut. Fruit. Cos. .123% 120% 120% 121% United Drug.... 71 71 71 70 C. S. In. Ab oil. 38% 5.7% 57% :s% IT. S. Rubber... 55% 82% 82% 55 I’. S. Steel 85% 82% 82% 85% U. S. steel pfd..114% 111% 114% 11l 's Utah Copper 62% 61 61 02% Vanadium Steel 52% 50% 30% 50% Wall. Ist pfd. . 20% 20% 20% 20% White Oil 9% 9% 9's West. Union .. 92”. 90’:. 92% 93% West. Klee. ... s>'% .*<> 50 49% While Motors . 57% 55% 35 a j 37% Will.vs Overland 5% 5% 5% 5 , Wil/on A Cos. . 28 28 28 27% Worth. Pump.. 44% 44% 44% 45 Woo'.worth 14'% 137 Vi 137% 141% West P 16% 16 16% 15% NEW YORK LIBERTY BONDS. —Jan. 5 Prev. High. Low. Close. Close. 1,. P.. Vi3s 05.50 95.14 95.50 95.00 1,. R. Ist 4s 97.00 96.40 L. B. 2d 4s 96.40 96.36 96.40 96 20 L. IS. Ist 4%5.. 07.14 96.98 97 14 96.94 1,. B. 2d 4%s 96 70 96 40 97.14 96.30 1. B. 5d 4%s 97 70 97 50 97.69 97.41 L. B. 4th 4%a... 97.18 96.94 97.16 96.80 Victory 3%s 100.00 100.04 100 08 100.06 Victory 4%s 100.08 100.02 100.08 100.04

In the Cotton Market NEW YORK, Jan. s.—Selling by Liverpool and New Orleans was a feature at the opening of the cotton market today and was partly responsible for an opening drop of 10 to 18 points in prices. The market at New Orleans was considerably lower than prizes here. There was scattered buying by Wall street'. Subsequently, the list developed further weakness and at the end of the first fifteen minutes was off about 24 points net. New York opening cotton prices: January. 15.65 c; March, 15.52 c: May, 18.01 c; July, 17.50 c; October. 10.70 c. The market continued heavy in tlie late dealings on selling from Wall street sources. The close was barely steady at a net decline of 29 to 3S points. —Cotton Futures— Open.- High. Low. Close. January 1 s.*!•'} 18.05 18.28 .18.45 March 18.52 18.52 18.20 18.31 Mav 18.04 18.04 17.75 17.50 July 17.50 17.50 17.20 *17.32 October 10.7<i 10.70 10.41) 10.48 —Cotton Review— NEW YORK, Jan. 5.-—A combination of unfavorable circumstances influenced rather heavy selling of cotton today, values suffering a loss of about $2 per hale as compared with last night's prices. The reaction was to some extent in sympathy with an irregular stock market and some of the selling 110 doubt influent- (1 by reports of financial difficulties in Manchester cotton circles. This, however, was subsequently denied. The fact of the matter is {hat the markets are very susceptible to rumors and some caution is necessary on this account. There is nothing in the trade news that should cause any important price changes in either direction and it is more likely that we will have an uninteresting. flu mating market for a while, during which time a trading position is all that will be Justified. LIVERPOOL, Jan. 5. —Spot cotton was in good demand at the opening here today but business was moderate and prices were steady. Sales appiroximated 8,000 bales. American middlings fair, 13.64d; good middlings, 12.04d ; full middlings, 11.04*1; middlings, 12.29*1; low middlings. 10.09/1; good ordinary, 8.54d; ordinary, 7.79d. Futures opened quiet during opening trade.

STOCKS SUSTAIN SHARP LOSSES Offering of Flood of Shares Is Principal Factor. NEW YORK, Jan. s—The stock market closed weak today. The unsettled condition became more pronounced in the late dealings when western houses offered large blocks of various stocks, causing further sharp declines. The General Asphalt issues were weak, the common dropping 5 point sto 57%, while the fell 6% points to 92. Houston Off yielded over 4 points to 71 and Mexican Petroleum showed aloss of 4 points at 108V4. Railroad shares reacted from 1. to 2 points. United States Steel was also in supply, failing over 1 point to 82%. Baldwin Locomotive yielded nearly 2 roints to 94. Government bonds were unchanged and railway and other bonds weak._ Total sales of stocks were 854,700 shares; bonds, $14,769,000. (By Thomson A McKinnon) —Jan. 5 We have had another day of Irregular market action. Strength in the market was confined mainly to a few groups, sugars and the less prominent steel issues. in the former anew Interest appears to have entered the market on the theory that unfavorable conditions have culminated and there Is now a better outlook for the industry. In the steel group the basis of the strength is the expectation of a merger, which will include many of the independent companies,j.and that this merger will eventually materialize, seems reasonably cerain, but it is a matter that cannot be consumated in a short time and we will more than likely have this subject before us for many months of this year. While these g.onps mentioned were being supported, other stocks were being sold with greater freedom than has been noticeable recently. The selling was general enough to be called liquidation, though there can be little doubt but that a fair percentage to be credited to professional account. One of the chief Influences that adversely affected public sentiment was the action of General Motors company in passing the dividend on the common stock. Following such action by one of the most prominent companies in America, tlie question is in order. How many of others conspicuous will deem this as a desirable precedent to follow? We regard the present market position as unfavorable from a technical standpoint and would therefore market some !%ng stocks during the strong periods. TWENTY STOCKS AVERAGE. NEW YORK. Jan. s.—Twenty Indnsi trial stocks Wednesday averaged 79.81, up’ .70 per cent. Twenty active rails averaged 73.91, up .43 per cent. CLEARING HOUSE STATEMENT. NEW YORK, Jan. s.—Exchange j, $830,800,000; balances. $77,300,600; Federal Reserve Bank credit balances, $58,300,000. | Money and Exchange Indianapolis bank clearings Thursday were $3,527,000. Bank debits were $7,367,000. NEW YORK. Jan. 5.-The foreign ox- ! change market opened weak today. De- ; iaand Sterling was 2%c lower at $4.17%. | Francs yielded 6 centimes to 7.95 c for j cables and 7.94 c for checks. • Lire were ' off 2% points to 4 25c for cables and 4.24 c for checks. Belgians Were 3 centimes ; lower to 7.60 e for cables and 7.59 c for che< ks. Marks were 2% points lower at I .0054V5e. Guilder cables were 36.51 c; checks, 36.52 c. Sweden kronen cables Were 24.02 c; checks, 24.57 c.

NEW YORK CALL MONEY'. NE WYORK, Jan. s.—Money-Call money ruled 5 per cent; high 5 per cent: low, 4 per cent. Time rates steady, ail 5Vi Tier cent. Mercantile paper. st> ady. sterling exchange was quiet, with business in bankers’ bills at $4.18% for demand. YIOTOR SECURITIES. (By Thomson A McKinnon.) —Jan. 5. —ClosingBid A-.; Earl Motors 5 5% Packard com 6% 7% Packard pfd 62 61 Peerless 34 35% Continental Motors com. .... 6 6% Continental Motors pfd. ...... 84 85 Hupp com 11 IUS Hupp pfd 90 Reo Motor Car 17%. J$ Elgin Motors 1%. Grant Motors 1% 1 , Ford of Canada 257 261 National Motors 2%. Federal Truck 11% 16% Paige Motors 12 ” 11 Republic Trues 7% 8% ACTIVE OIL STOCKS. (By Thomson A McKinn >n) —Jan. 5 —Opening— Bid. Ask. Borne Scrymser ....320 3411 Buckeye Pipe Line ,si 86 Chesbroilgh Mfg, Cons 170 199 Continental oil. Colorado ...174 17s Cosden Oil and Gas 6 s Crescent Pipe Line 27 29 Cumberland Pipe Line 120 130 Elk Basin Pete 6% 6% Eureka Pipe Line 75 80 Galena Signal oil, Pref 100 100 Galena Signal Oil. Com 40 42 Illinois Pipe Line 158 163 Indiana Pipe Line 85 85 Merritt Oil 8% 9 Midwest Oil 2% Midwest Itfg ....170 180 National Transit 28 50 New York Transit Ito 148 Northern Pipe Line 88 93 Ohio Oil 255 263 Oklahoma I*. A R 5% 6 Penn. Mex 16 19 Prairie Oil and Gas 535 545 Prairie Pipe Line 226 230 Sapulpa Refg 3’% 3% Solar Refining 330 350 Southern Pipe Line 73 78 South I’enn Oil 189 190 Southwest I’enn Pipe Lines . 50 54 Standard Oil Cos. of Ind. ... 86 86% Standard Oil Cos. of Kan. ...540 550 Standard Oil Cos. of Ky. —425 450 Standard oil Cos. of Neb. ...170 180 Standard Oil Cos. of N. Y. ...355 369 Standard Oil Cos. of Ohio ...360 380 Swan A Finch 30 10 Vacuum 051 295 3"5 Washington Oil 30 40 NEW YORK CURB. (By Thomson A McKinnon.) —Jan. 5 - ClosingBid. Ask. Acme Packing 40 60 Curtis Aero com 2 5% Curtis Aero pfd 18 23 Goldfield Con 2 5 Jumbo Extension 5 6 Imperial Oil (Del. 4 9Vs 9% Internal. Petroleum 15% 15% Nipissing }•;•$ *•% Standard Motors 8% Salt Creek 18% 15% Tonopah Extension 19 16 Is Tonopah Mining 1% 1% United P S new 1 13-16 1 15-16 U. S. Light A Heat 8" 90 T T . S. Light A Heat pfd 1 YVright-Martln ... 2 ' n u Gold Mine Cos 1 Jerome 26 33 New Cornelia 17% 58 United Verde 28% 29% Sequoyah 2 5 Omar Oil 19 83 Rep. Tire 10 20 CHICAGO STOCKS. (By Thomson A McKinnon.) —Jan. 5 Open. High. Low. Close. Armour pfd 91% 91% 91% 91% Armour Leather... 12% .... Carbide A Carbon. 43% 44 43% 43% Libby 5 5V4 5 5Vi National Leather... 2 I’iggly Wiggly 32 32% 30 30 Reo Motors 1.8 Stewart-Warner ... 24% 24% 24% 2(% Swift A Cos 95 95 93% 95 Swift International 21% 21% 21% 21% NEW YORK WOOL. NEW YORK, Jan. 5.—W00l prices ruled steady iu trade on the market here today. NEW YORK TURPENTINE. NEW YORK, Jan. s.—Turpentine sold at 80%c per gallon on the market today.

INDIANA DAILY TIMES, THURSDAY, JANUARY 5, 1922.

Weather The following table shows the state of the weather at 7 a. m., Jan. 5. as observed by U. S. Weather Bureaus: Station. Bar. Temp. Weatli. Indianapolis, Ind.. 30.11 36 Cloudy Atlanta, Ga 30.08 58 Rain Amarillo, Texas.... 30.22 18 PtCldy Bismarck, N. D.... 30.44 —24 PtCldy Boston, Mass 29.90 36 Rain Chicago, 111 30.02 26 Cloudy Cincinnati, Ohio 30.10 Cloudy Cleveland. Ohio 29.92 32 Cloudy Denver, Colo 30.26 10 Clear Dodge City, Kan... 30.30 22 Cloudy Helena, Mont 30.12 26 Cloudy Jacksonville, Fla... 30.20 60 PtCldy Kansas City. M 0... 30.34 8 Clear Louisville, Ky 30.18 30 Cloudy Little Rock, Ark... 30.24 30 Clear Las Angeles, Cal... 30.18 46 Clear Mobile, Ala 30.04 62 Cloudy New Orleans, La... 30.10 56 Cloufly New York. N. Y 29.92 42 Cloudy Norfolk, Va 30.08 58 Cloudy Oklahoma City 30.36 22 Clear Omaha, Neb 30.38 2 Clear Philadelphia. Pa... 29.92 46 Cloudy Pittsburgh, Pa 29.86 50 Cloudy Portland, Ore 30.10 44 Cloudy Rapid City. S. D... 30.32 —2 Clear Roseburg, Ore 30.22 40 Cloudy San Antonio, Tex.. 30.18 42 Clear San Francisco. Cal. 30.32 44 Clear St. Louis, Mo 30.24 24 Cloudy St! Paul, Minn 30.20 —4 Cloudy Tampa, Fla 30.20 60 Clear Washington, D. C.. 29.90 56 Rain YVEATHER CONDITIONS. TII9 storm over the central valleys Wednesday morning lias moved northeastward, accompanied by considerable precipitation, and it Is now passing down tlie middle St. Lawrence Valley. Tbe cold wave following in the rear of the disturbance bus moved southeastward to Northern Missouri, while decidedly colder weather has reached southward! to the Gnlf coast and eastward to tlie Ohio Rivr. It is somewhat warmer over much of the Ear Northwest, due to another disturbance that extends from the British Columbia coast eastward to Alberta, but the readings in Saskatchewan and Manitoba are yet considerably b low zero. .1. 11. ARVIIN’GTON, Meteorologist, Weather Bureau.

New York Bonds (By Fletcher-American Company.) —Jan. 5 FOREIGN GOVERNMENT BONDS. Bid. Ask. Arg. (unlisted) ss. Sept. 1, '45. 72% 73% Arg. 7s, Oct., ’23 97 97 '• j Belgian 6s, Jan. J, ’25 91% 95V* Belgian 7%5, June 3, ’45... 104!* 105 Belgian Bs, Feb. 1, ’4l 100 100% Berne Bs, Nov. 1. ’45 lit! 108 Brazil 7s, June 1, '4l 105%, 104% Chile Bs, Oct. 1, ’26 99 99% Chile Bb, Feb. l, ’4l 100% l"l Chile Bs. Nov. 1, ’4O 10=) 100% Christiania Bs. Oct. 1. '45....106 W 7% Copenhagen 5%5, July 1, '14.. NS 87 Danish Mun Bs, Feb. 1. ’46.. 106 107 Denmark Bs. Oet. 15, ’45 107% 108 •Canadian s Vis. Dec. I, '22,... 95 4 95 •Canadian. 5%5, Nov. 1, '23... 95 4 95 •Canadian 5%5. Nov. 3, '21... 92 * 91 •Canadian ss, Dee. 1, '25 91 92% Canadian •*•, April 1. '2 7 18S 90% Canadian 5%5, Dec. 1, -'7.,.. 91% 9•% Canadian 5%5, Aug. 1, ’.9.... 9. , 96 - Canadiau ss, April 1, M 1.... 9;% 9-5% •Canadian ss, <ut. 1, '.;! 91% 92% Canadian 5% Nov. 1, 5.5 9-5% 97 •Canadian ;>%■=. Nv. 1, ML... 1 91% Canadian ss, March 1, '57 91% 05% •Canadian .*%, Dee. 1. ’37 97% 98 •French (Vi.tA ss. Dpt, M 1... 61 62% •Frond. 4s. Opt. ’45 4-% 49% French 7%5, June, '4l 94% 91% French Bs. Sepl. 15, '1a.... !i9% 100 •Italian (Wart 5s 32 33 Jap. (First) 4%5. F-b 15, '25.. n; ; 89% Jan. (Second) l%s. July 10, '25 86% >7 Jan. 4s. Jan. 1, ’3l 72% 75% Mexico ss, Jan., ’45 54% ;>6 Mexico 4s, Jan., ‘54 1 4'>% Norway Bs. Oct. 3, '10........l* !i *% lu9 Queensland 7s, Oet 1. '4t...1*‘7 1)8 Kin de Janeiro Bs, Oct.. '16..101% 101% San Paulo Bs. Jan. !. M 0 l"t 101 % Swedish 6s, June 15, 559 91 94% Swiss 5%5, Aug. 1. M 9 9■ 4 '•**' 4 Swiss $w Jul v 1. ’4O 114% 115 I K 5 . N< v. I. *22 100% 100% U ,K rV A tut. 1. ’29 99% 99% U. K. s>.s, Feb. 1. ’37 96% 96% U. K. 5%5. Aug. 1, "29 99% 99% Zurich Bs. Oct. 15. ’45 107% 108% •Internal loans, CORPORATION BONDS. Bid Ask Allied Pa.-kers 6s 60 62 Alum. Cos. of A. 7s, Nov.. "2.5. )"i’% ltx.% A. Cotton Oil I is. Sept 2. '2l. . 91 91% A liter. T.'l A Lei. 0s 25 lu-% 1"> - Amur. Tel. 6s. Oct.. '22 lo‘i% l'iu -, Aun r. Tel 6s. Feb., "24 99 s l's>% Anar. Tliri 111 6s, Dec.. 25.... 99% 106% Amor. Tob. is, Nov., '22 100-> 101% Amor. Tob 7s, Nov.. '23 I*>U, 102% Anaconda 6s, Jan.. 96 1 97% Anaconda 7s. J'll.. '29 100% 101% Anglo Am. oil %/*._ Apr., 25 102- 1 Armour 7=, July 15, '3O loi . I'M Atchison Den % 8i , Bu% Atlantic Ref. o%s, Melt., ‘31.. I l ’- 1 1' -> /1 Bell of Pa. 7s I”s% 109 Bell. Tel. of can. 7s, Apr . 25 An 109% Beth. Steel 7s, July 1.5, '23 Put’i 1"0% Big Four is 96 90% Dan. Nor. t,%s 107 -1" !, Dan. Nor. 7s 108% 169 Can. l’at. )>s. A!eh. 2. Ml 99• 100% Cent. Arg. Ky 6s, Feb., M 7.... $9% 90% D. 11. Q. (ten. Is 86 86% and. B q., 111. :;t . s 77 . 78% D. I!. O, Nol). Us 93 94 D. li. Q , .It. O'.>s 105% 106'% li. 1. & P. 6s. Feb.. M 2.... 99% 10*) Coil. Gas 7s, Dec.. ’22 iOO-% 1(>l Chie. A. X. W. *0 >s 106 I'M , Chic. A X. W. 7s 196% 406% Col. Graph. Ss 35% 30% Copper Exp. Bs, 15 b. 15, M 2. 100 100% Cupper Exp. Bs, Feb. 15. M3.. 1013% I'M! Copper Exp. Bs, I h. 15. M’1..102% 103 Copper Exp. Bs. Feb. 15, M5..1M! , 10!% Cuban Am. Sli.v.r $s 101% 103 Cudahy 7s. July 15. M.3 100 ■$ 100% Du Pont 7%s 193% 103'1 Fed. Sugar os, Nov., Ml 97 97% Fist, Tire 8s 1(H) 100% Goodyear Ist Bs, 'll 110% 110% Got tU ear Dob. Ss ’3l 98% 99% Goodrich 7s, Apr.. 25 ‘.o', 96% Great .Northern 7s 107% Rt 7% Grand Trunk 6s 09% 100% Grand Trunk O'.-s 102% 103% Grand Trunk 7s 108% 109% Gulf Oil tis, July, ”23 99% 100% Dulf Oil 7s, Feb . M3 192% 103% Heinz 7k, Dec., MO 103% 104% Hocking Vat. 6s. Melt.. M’t 96 97' . Humble Oil 7s, Midi. 15, MM 99% 100% 111. (lent. Ref. *-5 '55 78'V 82 Inter. Met. U%B 9% 10 Interboro 5s 51% 54% Inf. li. T. Ss. Sept . M 2 73 75 Kelly-Snringfielii $s 101 % 102% K. C. Term 6s. Nov. 15. MM.. 99 , 100 Kenn. Cupper 7k, l'Vb., M 0... .101 % 101% L. A N. 7s, ’3O 105% 106',... Laelede Gas 7s, .Tan.. M'O t'7 97% Libby-MeNeil 7s, May. '3l 99 99%. Mi x. Pel. 8s 98% 99% Minn., St. P. A- S. S. M,, OV-x 100'?. 101 X. V. Central 7s. ’3O 10.5'., 106 X. V. Tel. Ref. 6s. ’ll 101% 102% X. V. Edison O'-.s ’ll 106 1011 U. Nor. Pan. P. L. '4s 81 81% Nor. Pae. G. L. 3s 60% 60% Nat l Leather Ss! Ni>\. 15, '25 95'-* 95% Pan. Amor. Pet. 7s 95-% 96', Penn. 6U.S I'H 10iu. Penn. 7s 105% 106'! Philippine 5%s ’ll .104 101% Proctor A G. 7s, Midi., ’22....100 100!'. Proctor A. G. 7s. Mch . M3 P>l % I*ll% Public Ser. N. J. 7s. M il.. M 2 99% 100% it. .la. Reynolds 6s. Aug., MM 100% 3(H)”, St. L.-San Fran. P. L. 4s 69 69% St. L.-San Frail. Adj. 6s .. 71% 71"! Seaboard Con. 6s 31% 42% Steel A- Tube 7s 97% 9SV* Sears Roelinek 7s, Oet. 15, ’22 98% 99 Sears-Roebuck 7s, Oet. 15. M3 97% 9ST, Sinclair 7%5, Mav 15, ’25 98% tis% S.dviiy & Cie Bs, Oct., ’27 102 103 Sou)hern liv. 6s. Mch., MM .... 39% 99% 8. W. Bell Tel. 7s. Apr.. '25..100% 100% S. Oil (Cal.) 7s, Jan , Ml 106% 107 " S. Oil IN. Y.) 7s, Jan.. ’25-M 104% 110 S. Oil (X. Y.) 6%5, May, 553.. 106% 103% St. Paul U D 5%5. Dec. 15, ’23 98% 99% Swift 7s, Oct. 15. *25 100% 100% Swift 7s. Aug. 15, ’3l 101% 102 Tidewater Oil u%s .- • 169% 100% Texas (’<>. 7s, Mch. 1. ’23 101 1011$ Utah Sec. 6s. Sept. 15, ’22.... 95% 96% Union Tank Car 7s 103% 103% u. S. Rubber 7%s 104% lot”. Vacuum Oil 7s 105% tira% Va.-Car Cbem. 7'js 93% Western Union 6%s ...166%, 107 Western El. 7s. Apr.. ’25. ...103% 103% Westinghouse 7s, May, ’31..105 105% Winchester 7%s 88 : !i 99% WHOLESALE BEEF FRICKS. The following are tot ay's wholesale prices for beef cuts As sold on the Indianapolis markets of Swift & Cos.; Ribs —No. 1. 18e: No. 2. 15c. Loins—No. 1. 22e: No. 2. tSe. Rounds—No. 1. 14e; No. 2, 12c. Chucks —No. 1,9 c; No. 2, Bc. Plates —No. 1. Sc; No. 2. Bc.

LIGHT SWINE PRICES STEADY Medium and Mixed Hogs Are Higher—Calves Strong. RANGE OF HOG PRICES. Good Good Good Dec. Mixed. Heavy. Light. 28. $8.35® 8.63 sß.lo® 8.23 $8.23® 8.90 29. 7.65® 7.85 7.50® 7.65 7.85® 8.25 30. 7.23® 7.51 7.00 7.55® 8.25 31. 7.25® 7.60 7.00 7.85® 8.25 Jan. 2. 7.23® 7.60 7.00® 7.50 B.oo® 8.2 b 3. 7.50® .7.75 7.00® 7.50 B.oo® 8.25 4. 7.50® 7.80 7.00® 7.50 B.oo® 8.25 5. 7.75® 8.00 7.50® 7.75 B.oo® 8.25 With receipts light and the demand by packers better than on the market of the previous day, swine prices were steady to 25c higher generally in trade on the local livestock exchange today. Shippers, who were about the only buyers Wednesday, were not active. There were close to 3,000 fresh receipts and about 500 held over from the previous day. A fair clearance for the day was anticipated. Light swine wore steady generally, while mixed medium and heavies were 15 to 25c higher. Figs were steady, with the demand fair. Roughs were about 25c higher, selling at $0.25 and down, while stags were steady. The bulk of tho sales for the dayranged at $7.50@8. Cattle values ruled steady generally, with receipts close to 500 and the demand fair. Bulls, however, were strong to 25 cents higher with the supply Inadequate for the demand. Common and medium cows also demanded prices that were siroug to a shade higher than the prices that the same grades would have commanded ou the market of the previous day. Calves wore strong, with receipts ox tremely light and the demand ■ 1. TANARUS! - re was a top of sl2 on thoice 1 was the top for the market of t ■ vious day, but there were more s.i t that figure today than yesteriln v. There were only- about 150 calves on the market. There was not a sufficient number of sheep and lambs on sale to warrant the establishment of a market. HOGS. Best light hogs, 100 to ISO 11-s average $ 5.006? $ 25 Over 300 lbs 7.259/ 7.50 150 to 500 lbs 7.25(11’ 825 .Sows 0.75 id) 6.25 Stags 4JKK® 5.50 Best pigs, under 140 ids S.oo@ 8.50 Bulk us sales 7.50rq, 8.00 Tops *. 8.25 —Cattle— Prime cornfed steers, 1,300 to 1,800 lbs 7.25 Q 8.50 Good to choice steers, 1,200 to 1,300 lbs 6.00@ 7.00 Good to choice steers, 1,100 to 1,200 lbs 5.50(ji 6.00 Good to choice steers. 1,000 to i 1,100 lbs 5.00@ 5.50 Common to medium steers, 800 to 1,000 lbs 4.30@ 5.00 —tows anil Heifers— Good to choice heifers 5.50'2 ‘ton Medium heifers 4.u*i(u> 5.00 Common to medium heifers.. 3.sfi@ 5.09 Good to ch iico cows 3.25(il 5.50 Fair to medium cows 1.25-./ 2.75 1 utters 1.50(q 2.50 Owners 75(g L. 73 —Hulls— Good te oholce bub in r bulls. 3.75'2 4.75 Bologna bulls 3.00ig 3.50 Light bologna bulls ..6 2.5i8u 2 75 Light to common bulls 2.50 —Calves— Choice veals 11.00® 12.00 Good veals lO.UO'ft 11 DO Medium veals 8 0o((t 9.00 Lightweight veals Y.OOftf 8.00 Common to heavyweight veals 4.toy, 7.00 —Mockers nail Feeders— Good to choice steers under 8*8) lbs 4.50® 4.75 Medium cows 2.0**% 3.50 Viol'll COWS 3.5' W 4 2.1 Good heifers 5.00(2 650 Medium to good heifers 4DOOi 475 Milkers ST.tHi/ji.'o.oo —Sheep sml Lambs— Ewes 1.00% 3.00 Rucks 2 00'./ 2.00 Go.nl to choice lambs s.D>a 12no Seconds 6.5 j 850 Uu k lambs 5.50%. 675 Culls 4.00*0; 5.00 Other Livestock CHICAGO, Jan. 5,-—Hogs—Receipt*. 57.000; market active and 10'</15c higher; hoik 1 1 sales. SV. U) 9; T.tiu ; tq. ; heavies, .%'</ 7.50; mediuiiiH. $7.25'./;7.1.5; lights. ~7..4)'</s; light. lighUs, $7.75%,5; heavy parking sews, smnoth, $0*2*1.75; parking sows, rough, $5.75(1/6.15; pigs, SV.OS( n. C/itJlv Receipts, 19,000; market steady 10 strong. Beef steers—Choice and prime, S9IU./10: medium an/1 good, SO.U)./9,1t): good a.id choice, $5.256/10: common and medium, ss.eo(</,.5,25. Butcher cattle | Hv-lfers. $5.75(1/$.2 >; cows, $3.35f /*i.25; bulls. $3.7 >•• • fanners aml eul ters Dows ami hcif. rs. $2 25;.,3.25; cann -r steers, $36/4; veal eahe-s. $6,759/9.50; feeder .si.ssrs, s.">(// 6.5(1; Worker stvs rs, ; 1.25(0 6. ID; Stocker cows mid heifers, $36? 4.75. Slicep and lambs—Receipts, 13,000; market stioug to 25e higher; good u choice lambs, sll'/ 12.10; vcarling wethers. svso:-/ll; ewes, sp.tii,7s: cull and common ewes, $2®3.75; feeder lambs, s9(it 10.75. CINCINNATI. Jan. 5. Hogs -Receipts, B.ot> 1; market, steady; h.-avies. $7 .■/($; mixed, $8; medium 1, ss((/.5.25: liglits and pigs, $5.7,-, ; roughs, $6; stags, $1.25. Cattle- Urceipls, s*k); market, steady; hulls, steady; calves, sl2. Sheep and lambs—Receipts luu market, i teady; ■ we-, si(o t; choice lambs. $11.74); lecouvis, US; culls, $1.506/5,.Mi. CLEVELAND, Jan. 5. Hogs Receipts, 3.000; market 204/55e higher; yorkers, $8.50; U'iX*‘d, $> lil 0525 ; mediums, ssl6 6/.5.2.4; pigs. $8 56; rough' , $6; stags. sl. Cattle—Receipts. 200; market soady; good to choice stc rs. $7.75(//$.75: to choice heifers. $1.75(/5.75; goad to choice lows. $5.25(0 1.2.7; fair to good cows, $2.25 (!/5.25; comniun cows, $1,256/2.25; good t,> choice bulls. $5 736/ 1.75; milkers, ssof/t9O. Slurp and lambs Receipts, 750: market 25c higher; top. $12.25. Calves Receipts, 200; market strong; top, $12.50.

EAST ST. LOUIS, Jan. 5. Hogs- lUceipts, 12,000; market steady to 15c higher; mixed and butchers, $7.351/7. c; good heavies, $7.466/7.*D: roughs, $5,856/ ii; lights, $7.1*06/8; pigs, $7.5*16/$; bulk of sales. $7.4**6; 7.8,,. Fa tile Receipts. 2,200: market slow and lower; native beet • leers, $76/7.75; yearling steers and li -ills. s7(i/*i; cows, $3.5.16/3.75; sticker , and feeders. $36/0 25; ea’ves, $2.756/$.2.6; eanners ai l rollers. $26/5.2.1. Sheep and lambs Receipts, 650; market steady u> 11 rung; mutton ewes. sl6/5; choice lambs, sl*l6/11.50; dinners and choppers, $26/2.50. EAST BUFFALO, Jan. s.—Hogs Kei '•! ipts, 2,000: market slow; yorkers. ss.so (</!); pigs, $5.756/9.23; mixed, ss:VzS..*io; heaviest, $7,500/7.75; roughs, $5,756/0; slays, $5 506/3. Guttle Receip:s, 200; market slow: shipping steers, SB6/$.75; butcher grades, s7*>rS: heifers, S4O/7.50; cows, $26/5.50; bulls, $3,506/5.25; feeders, $46(5; tnilk cows and springers, $lO6/115. t'/ilves—Receipts, 5.030: market slow; cull t" choice, $56/13.50 Sheep and lambs Receipts. 1,200; market slow: choice lambs, $12,756/13: cull to fair, $76/11.50; yearlings, $8(310.50; sheep, [email protected]. PITTSBURGH, Jan. 5. Hogs—Receipts, 2.500: market steady to 15c lower; prime heavies, $7,756/$: mediums. $8,756/8.85; heavy yorkers, $8,756/8.85; light yorkers, $5.856/9; pigs, $8.85; roughs, s(’6/6.50; stags, $36/1; heavy mixed, $.8,106/8,59. t'attie— Receipts, light; market steady; choice, $7,506/8; prime, SB6/8.30; good, $7,506/8; tidy butchers, $76/7.50; fair, s*!(// 7.75; common, $4(7/3; common to good fat bulls, $5,506/3: common to good fat cows, $56/5.50; fresh cows and | springers, $:15(//S5; veal calves. Slt:r I heavy and thin calves, $8679. Sheep and I lambs-—Receipts, 55*: market steady; 'prime wethers, $5.566/(1; good mixed, fair mixed. $46/4.50; culls and commons, $1,506/2.50; good to choice lambs, $126112.50. INDIANAPOLIS PRODUCE. Butter—Local dealers are paying, 40® 41c per lb for butter delivered in Indianapolis. Eggs —Lost off, 47c. Butter— Packing s.oeU, 17c. Poultry—Fowls, l*i<323c • springs, 19c; cocks, ll@12e; stags, 13c; voting lien turkeys, 8 IDs. and up, 39cyoung tom turkeys, 12 lbs. and up, 38c-' old ton turkeys, 33c; cull thin turkeys not wanted: ducks, 4 lbs. and up, 10s; ducks, 4 lbs. and up. 18c; geese 10 IPs. and upl4c; rabbits, drawn, p er dozen $2.50; squabs, 11 lbs to dozen, $0; young guineas, 2-lb. size, per dozen. $7 @8; old guineas, per dozen, $5. Bntterfat— Local dealers are paying 42c per pound for all butlerfat delivered in Indianapolis. (i

GRAIN VALUES SUFFER DECLINES Trade in Corn and Oats Active—Wheat Ma.rt Quiet. 4 CHICAGO, Jan. s.—Prices were generally lower today on the Chlcagx) Board of Trade. The demand from shorts in the corn and oats market was less active than the previous session and there w-as qnite a little commission house selling. There was little activity in wheat. Provisions were irregular. May- wheat opened at $1.11%, off !4c, and closed up %c. July w-heat opened at $1.01%, up %e and closed unchanged. May corn opened at 53%e, off %c, and w-as - 3c low-er at the close. July corn opened at 51%c, off %c, and closed off %e. May oats opened at 38%c, up %c, and declined Vsc at the end. July oats opened unchanged a 39c and closed off %c. (By Thomson & McKinnon.) —Jan. 5. Wheat—Estimates of export business the last two days are larger than heretofore made public, gome interests claiming a total of two million bushels. Iu addition to this, there is a noticeable Improvement in the Hour trade and the milling demand for wheat, particularly in the Northwest. Offerings of wheat from the coun’iy are very small and receipts are diminishing. There has been no moisture in sections of the Southwest where urgently reeded. Or.e retail store here announces a price of 5 cents for a one-pound ISaC of bread and in New York City the piice of 5 cents is being established, in case this price becomes general, it is a'gued that the milling situation will improve. No export bus'ness has been reported as of today. On the • rarv, New York claimed that Argentine vvheat is being offered at considerably cheaper prices than are United States sorts. The trade generally, assumes that reserves in first hands are materially smaller than last year and because of this the market has many friends. On the other hand, the accumulations 1- sight are not finding a ready- marl. , as witness a sale of January delivery at 8 cents under May. We do hot believe the appearance of strength will be permanent until the present elevator accumulations at visible supply poiots are lessened. Corn and Oats—The s-aboard announced that purchases of corn for Russian relief aggregated 1 500,000 bushels, but this item was offset by hedging sales •against purchases from the country, nade late yesterday. The domestic demand, in both corn and oats, was not as brisk as yesterday, but is expected to improve with any display of strength in values. There is no inflation in either one of these markets, both of them having bee neglected. We feel that, as time passes, a stronger situation will develop, In both corn and oats. Provisions—A good advance in hogs firmed the provision list, although there was no revival of general interest. Holders of product are more confident. Warehouse accumulations through the West are comparatively light for this time of year. CHICAGO GRAIN TABLE. —Jan. 5 WHEAT— Open. High. Low. Close. May 1.11% 1.12 1.11 1.12 July.... 1.01% 1.01% 1.01% 1.01% CORN - May 53% .53% .52% .53% July..., .54 ■, ..it s .■ *l% *■ $ OATS—• May 3R% .38% .37% .5,8% July ."9 .35% .38% .38% FORK—•Jan 15.00 LARD— Jan $65 8.67 8.05 8.67 Mav 907 9.19 9.05 9.07 It IRS •Jan 7.50 May.... 8.00 8.00 7.97 7.97 It V I) Mav 84 .84% .82% .84 •July 77 •Nominal. CHICAGO CASH GRAIN*. CHICAGO. Jan. s.—Wheat No. 2 mixed. $1.07; No. 3 red, $1.15; No. 2 hard wit.ter. $1.07’;107% ; No. 3 hard wlr/er, $1.01%. Corn —No. 2 mixed. 47% 6/ 17 V. No. i white. 17'v; No. 2 yellow, 47%4z No. 3 mixed, 4fi4/47c; No. 3 white. 40%Ctf47c; No. 3 yellow. 46%®47c: No 4 mixed and No 4 yellow. 44%1tf 45%e Oats X>. 2 white, 35%6j37c; No. .; white, 3361.31 %e; No. 4 white. 32%@ 33%c. TOLEDO GRAIN rRICEB. TOLEDO, Jan. s.—Wheat 'ash, $1.16% i6/ l 19; Mav. $122: July. $1.07%. Corn— Cash, 516/52V. Oats Cash. 4D6r 12c. Rye— Cash, Me. Barley—Cash, 61c.

PRIMARY MARKETS. (By Thomson & McKinnon) —Jan. 3 Receipts— Wheat Corn Oats 1 St. Joseph .... 8.000 r.,000 2,000 i Chicago 20,000 SiVvOtk) 233.000 : Milwaukee 1,000 67,000 53.000 Minn-apolis .. 192.0**0 89.1/10 87."06 ! Duluth 45.000 94,000 52,000 sr. I.iiuis .... 44.000 00,000 68.000 Tol< do 4,000 16.1)00 1 IWO 14 droit 4,006 3,000 2 000 Kansas City.. 127."00 f.9.000 12.000 Peoria 1.000 74.000 31.000 Omaha IS.**,"l 203.04) 24.000 Indianapolis .. 4,000 lis.noo 34.000 Totals 4*18,000 1,1(07.000 004,000 Year ago 753.000 1.1**1,000 386.000 —Shi’iments — Wheat Corn Oats St. Joseph 2,000 20.000 Chicago 23.000 300,1)18) 2*15,000 Milwaukee .... 3.000 127,000 23,000 Minneapidls .. r<7*io 50.000 70.00*1 St. Louis 58.000 101,000 44.000 Toledo 22,000 1,000 2.144 Detroit 3.000 3,IKK) Kansas City.. 131,000 13,000 14,000 Peoria 57.000 20,000 | Omaha 19.000 27.000 24.000 j Indianapolis 30.000 23.000 | Totals 318.000 712.000 485,000 Year ago .. 002,000 453,000 300,000 —Clearances— Wheat Corn Oats | New Y'ork 204,000 4ii IKS) 40,000 i Baltimore 384,000 New Orleans.. 32,000 114,000 Totals 230,000 544,000 4*1,000 Year ago .. 059,000

INDIANAPOLIS CASH GRAIN. —Jan. 5 Bids for ear lots of grain nr.d hay at the call of the Indianapolis Board of Trade were: Wheat—No sales. Corn—Steady: No. 3 white, 49%{/?30%c; N". 4 white, 18/j6/ 19%e; No. 3 yellow, 48%6i 49%<'; No 4 yellow. 47%<tf4S%c: No. mixed, 47%6/.IS%c; No. 4 mixed, 4li'i6/ 47c. oats —Steady: No. 2 white, 47%6?35%c; No. 3 white, 3(tf37e. llay—Steady; No. 1 timothy, sl7 50© IS; No. 2 timothy, $476/ 17.50; No. 1 light clover mixed, $10,506/ 17; No. 1 clover, $196/20. —lnspections Wheat—No. 2 mixed, 1 car. Corn—No. 2 white, 1 car: No. 3 white 14 ears: No. 4 white. 8 cars; No. 5 white, 1 car; No. C white, 2 cars: No. 2 yellow. I car: No. 3 yellow, 8 cars: No. 4 yellow. 15 cars; No. 5 yellow. 20 cars; No. II yellow, 10 cars; No. 4 mixed, li cars; No. 5 mixed, 1 car; No. G mixed, 3 ears; ! total, 90 cars. Oats—No. 3 white. 5 cars. n.YY MARKET. The following are the Indianapolls prices for hay by the wagon load delivered : Hay-Loose timothy, sl(>.<K>@l7; mixed hay, sls(q.lG; baled hay, $176718. Oats—Bushel, new, per bus’iel, 32©35c Corn—Old, per bushel, 54©60c. CHICAGO PRODUCE. CHICAGO, Jun. s.—Butter Receipts, 0,000 tubs; creamery extras. Sue; 296734 c; packing stock, 196720 c. Eggs— j Receipts, 4.120; current, receipts, 37©38c: ! ordinary firsts, 356736 c; firsts, 40c; checks. ! 256728 c: dirties, 276/30'. Cheese —Twins,’ new, 19’/ic: Daisies, 19% ©20c; Young] Americas, 20c; Longhorns, 20c; bricks, j 17%e. Live poultry—Turkeys, 35c; chick- ] 1 ns, 20c; springs, 27c; roosters. 25c; geese, 16c; ducks, 18e. Potatoes—Receipts. 24 cars; Wisconsin round whites, $1.756/2 05 per 150-lb, bag; Minnesota whites, $1.75 671.85; Michigan round whites, $1.85© 1.95; Idahos, $2 10. FOR MOVIE PTRANS. BIRMINGHAM, England, Jan. s.—To protect the eyes of moving picture patrons it has been decided to license no theater which does not place the front row of seats at least thirty feet from the screen.

Local Stock Exchange —J an. 5 - STOCKS. Bid. Ask. Ind. Ry. .fe Light com 60 Ind. Ky. & Light pfd 75 Indpis. & S. E. pfd 60 Indpls. & N. W. pfd 60 Indpis. St Ry 39 45 T. H.. T. & L. pfd T. H., 1. & E. cun * 5 T. H., I. & E. pfd 12 U. T. of Ind. com U. T. of Ind. Ist pfd 7 U. T. of Ind. 2d pfd 2 Advance-Ituinely com Advance-Uumely pfd Am. Creosoting pfd 92 Am. Central Life 150 Belt R R. com 62% 70 •Belt R. R. pfd 4C Century Bldg. Cos. pfd 92 Citizens Gas Cos 25% 27 Dodge Mfg. Cos. pfd * •Home Brewing 43 ... Ind. Hotel con 83 ... •Ind. Hotel pfd 95 Indpis. Nat. Ins. Cos 3% ••• Ind. Title Guarantee Cos Ind. Pipe Lines 80 87 Indpis. Abattoir pfd 41 50 •Indpis. Gas 43 50 Indpis. Tel. com 2 Indpis. Tel. pfd 90 !Mer. Pub. Util, pfd 48% 51 Natl. Motor Car Cos 1 3 Pub. Sav. Ins. Cos 4% ... Raub Fertilizer pfd 43 Standard Oil of Indiana.... 82 86 Sterling Fire Ins. Cos 7 8 Van Camp Hdw. pfd 4 ... 100 Van Camp Packing pfd 100 \%n Camp Prcd. Ist pfd 100 Van Camp Prod. 2d pfd 100 Vandalia Coal Cos. com 3% Vandalia Coal Cos. pfd 4 8 Wabash Ry. pfd. 18 24 Wabash Ry. pfd BONDS. Broad Ripple 5s 55 ... Citizens St. Ry. 5s 70 Indian Ck. Coal and Mine 100 Ind. Coke & Gas 6s 82 89 Indpis. C. Jt S. 5s 91 Indpis. & Martinsville 55.... 56% ... Indpis. North, 5s 37 43 Indpis. &N. W. 5s 49% 54 Indpis. S. E 5s 45 Indpis. 8. Sr E 5s 75 Indpis. St. Ry. 4s 54 60 Indpis. T. & T. os 74 79 T. H„ I. & E. 5s 50 U. T. of Ind 6s 44% 51 Citizens Gas Ds 81% 91 Indpis. Gas Cos 81 91 Kokomo M. & W. 55......... 81 91 Ind. Hotel Cos 2/1 6s 95 Indpis. L. & H. 5s 81 91 Indpis. Water Cos. 5s 92 100 Indpis. Water Cos. 4%s 75 Mer. H. &.L. 5s 96 99 New Tel. Ist 6s 94% ... New Tel. L. D. 5s 93% ... Sou. Ind. Power 5s Btf% •Ex-dividend. Local Curb Market i (By Newton Todd) —J an. 5 Am Hominy eom 14 20 Central and Coast Oil ...... 2 Choate Oil Corp.... % Columbia Fire Ins. „o 6 7% Comet Auto ..... 1 2 Davton Rubber l its 51 61 DietorgrapU Prod pfd 44 54 p \V. Griffith . 8 9% Elgin Motor Cat 2 3% Federal Fin. Cos prd 76 88 * Fed. Fin. Cos., cc u... 122 129 Gt Sou. Prod, & Ref 5 0 Indiana Rural C edits 50 00 Metro. 5-50 c Stores com 8 . 9 Mero 5-50 c Stores pfd 20 27 National Underwriting ..... 3% 5 Rauch & Lang Units 32 42 Rub.-Tex. Units 15 17 U S Automobile units 68 71$ u! S. Mtg. Cos. Units 148 160 BANK STOCKS. Commercial Natl. Bank 71 81 Continental NatL Bank 109 U 8 Indiana Trust Cos 1.0 19u Indiana NatL Bank 258 268 Merchants Natl Back 280 Security Trust Cos 130 Slat* Savings and Trust.... 91 98 Wash. Bank and Trust C 0... 150 NEW YORK SUGARS. NEW YORK. Jan. s.—Raw sugars were steadier in trade on the market i here today, Cabas being quoted at 3.42 e i per pound. Refined sugars were steady, tine granulated selling at 4.80(34.90c and No. 1 soft at 4.90 c per pound. NEW YORK COFFEE. NEW YORK. J;.n. 5. —Coffee values were easy in trade on the market here t.nlav, opening options being 2 to 7 points lower. Rio No. 7on spot sold at 9%@9%c ; per pound. NEW YORK RICE. NEW YORK, .Tan. 5. —Rice values were 1 firm in trade on the exchange here to--1 day, domestic selling at 3%/&7%c per pound. NEW YORK HIDES. NE WYORK. Jan. s—Trade in hides ! was rather quiet on the market today, but prices ruled steady. Native steer hides sold at 15%c per pound, while branded steer hide) were quoted at 15%c. NEW YORK METAL MARKET. NEW YORK. Jan. s.—Copper—Dull; spot. January and February, 12%@13%e. Lead-Quiet; spot and January offered, l%e. Spelter—Quiet; spot and January offered, 4.85 c; February and March offered 4.90 c. NEW YORK rETROLEUYf. NEW YORK. Jan. s.—Petroleum priees were weak In trade on the market here tod i.v, Pennsylvania crude selling at $3.50 per barrel. CLEVELAND PRODUCE. CLEVELAND, Jan. s.—Butter—Extra. In tabs, 43%© 44c; prints, 42%@43c; extra firsts. 42%©,43c; firsts. 41%@44c; seconds, 34*334 %c; packing stock, 23@ 2U .0. Eggs—Fresh gathered, northern extras. 45c: extra firsts, 44c; Ohio firsts, new cases, 38c; old eases. 44c; western firsts, new cases, 43c. Poultry—Live, heavy fowls, 29(330c: spring culls. 23@ 25c; spring ducks. 52c; turkeys. 38@43c. Potatoes— Michigan*. $2.80 for 130-lb. bag; Early Ohios, $1.90 for 120-lb. bag. Sweet potatoes—Jerseys, $2.10 per hamper.

A Dividend Every Month in the Year Three GROUPS of three stocks each. S3OO will secure the purchase of ten shares of any group. This investment returns S4B: or 16%. Stock may be carried on margin until paid for or sold. The era of high return is rapidly passing, due to the consistent strength seen in the security market. W e placi this opportunity before you in detail in our NT-86. Write or 'phone f.r a copy. E. M. FuSl&r & Cos. Member* of Cotuaiidsted St.ck Exchange of N. T. 50 Broad St. New York t hicago Cleveland Philadelphia Boston Newark P 'sburgta (Direct Private Wires)

I DUY INDifINAPOLIS GAS COMPANY OTlfcl'li’ NEWTC l AND C ITIZENS GAS COMPANY I Oft SELL 415 LRMCKE BLDa.

SHANK ADMITS PROBLEM HARD ONE TO SOLVE Invoice of Women Cops Reveals Tuo More Than Ever. 1 * Mayor Samuel Lewis Shank gave It up as too big a job today. The board or public ’jafety coundn’t make head 01 tall of It. Chief of Police Herman if. Rikhoff couldn’t riddle. Bo an exuberant young reporter tried his hand at it. He is still at It, but tne latest returns, gathered from a maze ol reports. slates, slips, blank! anti schedules piled high on his desk show there are twenty-seven women on the Indianapolis police force —two more than when Mayor Samuel Lewis Shank announced he wa* going to throw all petticoated cops ont Into the cold. There are twenty-seven unless some more of them have resigned, been discharged, promoted, demoted or transferred. Mayor snank said he didn’t know how many women police he has and has stopped worrying about it. •T told Chief Rikhoff to stop sending them out on beats and assign one of them a day to the Union Station, one a day to the Terminal Station and two each night to both places.’’ the mayor said "I told him to turn all the rest of them over to Miss Burnside and Judge Lahr in Juvenile court. The commissioners and Judge Lahr hare fixed them up a niee cozy room and they'll be very comfortable over there." Supervisor of Detectives John Mullin had Irene Beyers, Cozetta Osborn, Sadie Osborne, Sarah Murray, Bertha Dnclus and Nell Dunkle on bis list. The day capiain said he had Emma Baker. Mayme Shelton, Helen Brewer and Mrs. A. M. Buck, who went home when ordered by Chief of Tolice Rikhoff yesterday to walk a beat. Oscar Queisser, secretary of police, said the only women he has on his list are Mary Moriarity, Lorena Fullilove. Helen Brewer, Lucille E. Murray. Cozetta Osborne, Mayme E. Shetlor- Maude Harris, Irma D. Byrum, G'-"%i:'na K. Murphy, Edith M. Anthony and Emma Lieber. There were three assigned to the Humane Society as sergeants—Mary Moore, Anna Brnner and Elizabeth Denny. It was said some of the men at headquarters have been trying to work ont an authentic list So were employes at the board of public safety. So Is the reporter.’ Mr. Shank explained the delay In straightening out the tangle Is due to the pact that some of the women *rc’’scared of Chief Rikhoff,’’ having beard he ia *'ha~d-boiled.” Rail Employes Will Meet Here Sunday All railway employes were Invited today to attend a meeting at 143 East Ohio street Sunday afternoon. The meeting will be under auspices of the United Association of Railway Employes. YYpge and employment questions will le discussed. \ ' The organization announced that R. C. Greenley of San Francisco* has been elected chief executive and has - W . .. - w Jail Delivery HeacWHl Held in CaliforWT The Indianapolis police Mere a>Ued to smd for Arthur safe cracker, who is wanted for leading a jail delivery at the -Marion County jail, and who is now under arrest at Jackson, Cal. The poilre received a telegram from George TV. Xucot of Jackson ! asking th m to send for Welling. The matter was referred to the office of George Snider, sheriff, who was out of the city. The sheriff Is expected to send j for the prisoner as soon as he returns. Wilmeth Declares SIOO Bond Forfeited The name of Frink Hill was called thrice in city court today and then Delbert O. Wilmeth, city judg'-, made his first bond forfietuie. Hill, living at 1209 South Randolph ; s'reet, was arrested on Dee. 13, on the I charges of operating a motor vehicle : while under the influence of ’iquor and violation of the muffler law. He wa) 1 granted three continuances and was due [to appear in court today. He failed to do so and his sl*lo cash bonl, put up oy Sam Harris, 1106 East Ohio street, was i forfeited.

Safety Profit Service We offer the unsold portion of a $150,000 issue of 7 PER CENT Preferred, Participating Stock, in a Dividend Paying Corporation of established reputation, earning power and assured future growth. Mail the attached coupon TODAY to THE BAKERSHOOK CO. 206 Odd Fellow Building, Indianapolis, Ind* Or Telephone MA in 3384. Indiana Securities Commis-sion-Dealers’ License 146, Issuers’ License 287. I am interested In your offer of 7 per cent preferred, participating stock in a dividendpaying corporation and will be pleased to go further into the matter with you. f Name Address Telephone

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