Indianapolis Times, Volume 34, Number 211, Indianapolis, Marion County, 13 January 1922 — Page 18

18

STOCKS DULL, BUT GENERAL TONESTEADY Buying Indicates Renewal of Bull Activities—Shorts Cover. BRIAN!) ACTION FELT IpeDal to Indiana Daily Times Ind Philadelphia Public Ledger BY MONITOR. NEW YORK. Jau. 13.—The stock market again was dull and professional, and Without special trading features. The feueral list showed a somewhat steadier tone in the forenoon, and it looked as If the buying was partly for long account, representing a renewal builisn Cperatiou. Short covcriug also was In tviilence. Among the strong spots were Kridicott Johnson. May Department Stores, Marine preferred and some of automobile accessories. United Fruit kira need more than a point on a moderkt turnover. .4 better tone also was displayed by (lie rails. Reading showed a good deal of strength, the Erie issues were Steady and fair advances were established bp Luiou Pacific and Lehigh Valley. Among the oils. General Asphalt was lomcwhut reactionary, Lut strength was displayed by Invincible and some of the (ninor petroleum shares, although s>" - fial Influences were responsible for the '.advance in the Pierce Oil Issues. I here is l less bullish feeling on the oil stocks • t present, owing -to the published statistics which show production running at I very high level, and suggesting the possibility of a temporary oversupply. The market as a whole, however, is dull and without special feature. The French Cabinet, upset with its accompanying announcement of the acceptance Df Premier Briand's resignation, caused komo unsettlement. There might have been a disosition to regard the situs’ tioa as serious, except for the feeling iu financial circles the ultimate r suit probably would be u vote of confidence and the restoration of the French leader to j official power. Francs naturally declined in response to the development. The feature cf the bond market was the strength of the Liberty issues with tt new high level for the Victory 4vis. The bond market was not depressed t y the failure of the Federal Reserve Bank to reduce its rediscount rate, as was expected. —Copyright, 19—, by Public Ledger Cotapany. WALL gjfREET GOSSIP BY MONITOR. There Jvere many crosscurrents in the j trading in stocks which gave the mar-; ket a curiously irregular appearance. Speculative pools in a few instances were aggressive in advan dug the price of their specialties, while in many of the standard issues there was genuine liquidation. In the rails, and particularly the ctocks of the coal carriers, both buying for speculative professional account, as well as for outside interests, was in ' evidence. Reading continued its advance, the buying being based on a favorable decision to the stockholders of the common by the United States Supreme Court, following the bearing which will begin Monday. Accumulation for important banking interests has been reported in Reading common, as well as in Lehigh Valley for some time past, but it is pointed out in one quarter which did some of the i buying that this does not necessarily j mean an immediate advance.

That the Stock Exchange is really “cleaning house’ 7 was demonstrated again when the expulsion of a member was announced. It, was reported that tho offending broker had taken advantage of his position as a specialist in the execution of orders in a given stock. Complaints have been rife of abuses by specialists and it even has been suggested that the exchange should forbid a specialist trading for his own account. It is the announced intention of the officials to do away with practices which have grown up in recent years to the detriment of the exchange. The same character of selling which has been in evidence in Baldwin Locomotive made its appearance again Immediately after the opening. After several good sized blocks had changed hands near 95. the price declined easily on limited offerings to below 94. No support other than short covering was in evidence. There was no specific news to account for the selling. A special dividend of $1.25 per share was declared on the stock of the Haskell Barker Car Company. At a special meeting of the stockholders the sale ot the company to the Pullman interests was ratified, the special dividend representing the cash payment to be made by the Pullman Comnany. In addition stockholders of Haskell Barker will receive throe quarters of a share on Pul'man for each share of Haskell Barker. This action has been anticipated and was without effect on the stock. Union Tacific was a strong feature In the railroad list on the publication of the figures for ten months operation. Total net income after taxes anil charges was $24,578,519 equal after payment of preferred dividend to $9.40 per share on the common stock. It is expected that full year operations will show nearly sl2 a share. The oil situation is a subject of daily comment, and the efforts of traders to reconcile published statistics with the movement of prices has proved a distracting task. Mexican Petroleum production in December established anew high record of 0,400,000 barrels. Domestic production for the week ending lan. 7 was at the rate of 1,413,450 barrels daily, an increase of 5,700 barrels in the daily’ average over the preceding week. Bunker fuel oil has declined recently and the Standard Oil Company of New York and the Texas company announced reductions of 1 cent per gallon for both rasollne and kerosene in New York State , md New England. Texas company and Invincible oil were firm, the latter even aggressively trong at times in the face of the domestic production figures. The other oil stocks showed little animation, and there was a suspicion that some of them were being sold under cover of the pool oiterations in Invincible. The well worn tale of Standard Oil buying of the h.tter stock was in circulation. It is said that Great Falls (Montana',. ire mill of the Anaconda Company is to e enlarged and in tho future will be ■radically an auxiliary of the American Brass Miils. supplying all ot the M est■rn territory, while the latter mill will produce supplies for the East. Copper men said that there was some indication ■fa slightly easier price iu the metal market. International Paper was one of the v,„ak features of the last hour on the ■ üblicntion of an unexpectedly unfavorable statement for eleven months. Tho figures showed a deficit of $0,754 309 as -•oinpared with a net profit of $11,530,302 for the full year of 1920. Preferred dividends required $1,125,000 so that the actual deficit was nearly $S.00(l.000. Traders ltd expected an unfavorable statement but not so discouraging an exhibit as this. Buying on decline was said to be for interests identified with the company. Strength and activity in Computing, l abulating and Recorder was due to •■ptrations by the pool which has advanced the price from 30 to above CO practically without opposition. There have been reports of mergers with other Companies. ail of which havn boon denied Officially, and these were in circulation *5 -ain yesterday. It is said also that the jKfmpany is showing large earnings, but ■b figures were given to substantiate the Ptatement. The floating supply of stock Fs small, and with no outside participation it Is easy to advance the quotation. Ac advance of 3 points net in Fi-rce Oil preferred was due to a report that the directors would meet yesterday and tied ire the dividend on the preferred stock which was due in October, and would announce a date for the playment : of the January dividend. After 5 o'clock j if was announced officially that no quor- ; urn was obtainable, and the meeting was j •d.ionrned until this afternoon—Cony'M 1922, by Public Ledger Company. |

N. Y. Stock Exchange

(By Thoms n & McKinnon.) —Jan. 13— Prey. High. Low. Close. Close. Allied Chemical 58% 58 58% 57% Ajax Rubber... 14% 14 14 14% AUis-Chalmers . 39% "’9 39 % 39 Am. Agricultur. 31 31 3L 30% Am. Beet Sugar 35% 34% 35 34% Am. Bosch Mag. 36% 35% 3(1 35 Am. Car & Fdy.l4o 14.3% 140 Amu. Can 34% 33% 34% 33'% Am. H& L com. 12% 12% 12% 12% Am. H& L pfd. 59% 09 59% Am. Ice 80 78 80 78 Am. Internatl.. 39% 39% 39% 39% Am. Linseed.... 31% 30% 31% Am. Locomotive.los% 104 105% 104% Am. Smt. & lief. 45 43% 44% 44% Am. Sugar Ref. 6o 58 59 55% Am. Suma. Tob. 34% 33% 34% 33% Am. Steel Fdy.. 33 32% 33 32% Am. Tel. & Te 1.117% 1111% 117% 110% Am. Tobacco . .133% 133% 133% 132 Am. - Woolen .. 80% 79% 80% 80% Am. Zinc & L.. 13% 13% 13% 13% | Anaconda M Cos. 45% 4S 45% 45% i Atchison 95% 94% 95% 94% i At. Gulf & IV. I. 29% 28% 29% 28% i Baldwin Loco.. Oil 93% 95% 94 B. it 0 35% 34% 35% 34% I Beth. Steel (B) 57% 56% 57% 50% j Cal. Pete 40% 451. 40 45% Canadian P. K. 122 120% 121% 121 Central Leather 30% 30 30% 30% ! Chandler Motors 53% 49% 53% 50 jC. A 0 50% 50% 50% 55% ' Chi. M. & St. P. 17% 17% 17% 17% I CMA St P pfd 31% 30% 30% 30-% i Chi. A North.. 03 02 62% 02% Chi It I & Pac 31% 31% 31% 31% C Ri A P Opct p 72% 72% 72% 71% CK 1A PTpctp 84% 84% 84% 81% I Chili Copper .. 10% 10% 16% 16% Chino Copper . 27% 27% 27% 27% Coca Cola ..... 45 12% 44% 43% Cos). P. A I. .. 24% 24% 24% Columbia Gas . 67% 00% 07% 00% ' Columbia G. .. 2 1% 1% 2 Con. Gas 92% 91 ‘ 92% 91% C. C. C. A St.L. 50 50 50 55% i 'o.-den Oil ... 35% 52% '12% 52% Corn Prod. ...100% 98 100 98% • ’rucible Steel . 01% 59% 01% 02 j Cuban Vui. S. . 10% 15% 10% 10% C. C. Sugar ... S-% 8% 8% 8% j Del. A Lack. .114% 113% 113% 114*1 Erie 9% 8% 8% 9 I Erie Ist pfd.... 13% 15 13 1374' Famous Play. . SJ% 78% 81 78%: r. Rubber Cos.. 12% 12% 12% 12 Gen. Asphalt 58% 57 58% 57 Gen. Cig a r s 71 70% 71 71% Gen. Electric ..139% 138 139% 139% Gen. Motors.... 9 S% S% 9 G. States Steel. 49% 47% 4v% 47% Gt. Nor. pld 73% 72% 72% 73 Gs. Nor. Gre... 31% 31% 31% 51% Houston 0i1.... 74% 73 74% 73%, Haskell Barker.. 81 80% 80% 80% lnspi. Copper... 39% 39% 39% 39% luvin. Oil 15% 15 15% 15% Judiahoina 3% 3% 3% 3% Inter. Harvest. 82 81% 82 .... Inter. Nickel.... 11% 11% 11% 11% Inter. Paper.... 48% 40% 48% 47'• Island O. A T.. 2% 2% 2% 2% K. C. Southern.. 22% 22% 22% 22% K-Springfield T. 37 36 37 50 Kenn. Copper... 20% 20 20% 20% Lack. 5tee1...... 4G% 45% 40% 45% Lehigh Valley 00% 59% 0" 59% Lee Tiro 27% 27% 27% 27% Loft Candv.... 9% 9'% 9% 9% L. A N 11l 110 111 Marine pfil GS% 00% 67 66% Mont.-Ward .... 13 12% 12% 12% ' Mexican Pete.. .110% 108% 110 109 j Miami Copper.. 27 20% 27 27 Mid. Sts. Oil.. 12 11% 11% 11%: Midvale Steel.. 3i) ; % 29% 50% 29%, Missouri Pac... 17% 17% 17% 17% j Mo. Pac. pfd... 45% 15% 45% 44% ! Nat. En. A Stp. 35% 33 33% ."24 National Lead. 80 80 SO S5 Nev. Con. Cop.. 14% 14% 14% 14% N. Y. Central... 75% 74% 74% 74 New Haven 13% 13% 13% 13% Norfolk A West. 97% 97% 97% 97% North. Pacific... 70% 75% 70% 75% Pacific Oil 40% 45% 40 45% 1 Pure Oil .".0 5.5% 36 4.V t 1 Fan-Am. PetroL 51% 49% 51 % 50% 1 l’enna. Ry 33% 55% 33% tab's j People’s Gas.... 65’ oi% 65% 61% i Pierce-Arrow .. 11% 14 .4% 14 Pierce Oil C 0... 12 10% 12 11%' ’Pittsburg Coal. 63 61 % 61% <7l , Pull. Pal. .Car.. 108% 1"7% lufc H>7% Ry. Steel Spg.. 90% 96 96 96 ; Ray Copper.... 15 15 15 14% Reading 74% 73% 74% 74% Rep. Iron A Stl. 53% 52 55 51% i Ileplogle Steel.. 26% 20% 26% 27 Roy. D. of N. 1% 52 51% 52 51% , Sears Roebuck.. 64% 03 03% 01 : Sinclair 20 20% 20Vi 20% j Steuart-Warner 29 27% 25% 27% | Southern Pac... 80% 79% 80% 79% | Southern Ry... 18% 18% 18% is j Stand. Oil CaL. 95% 94% 95% 9t% j Stan. Oil N. J. 170% 174% 170'-. 175 i St. L. AS. F. c 22 21% 21% 21% Stromberg Carb 39 37% 39 38% i Studebaker 85% 81% 83% 81% I Texas C. A 0.. 24% 24% 24% 24% I Texas Cos 45% 44% 45% 44% ! Texas G. & S.. 42% 41% 42% 41% ! Tob. Prod. ... 04 6 3 03% 03% i Trans. Oil .... I<>% lO 10 10% , Union Oil 19% 19% 19% 19% ] Union Pac. ...128% 124% 127% 127%; United R. S. .. 55 52% 55 52% | U. S. F. P. C.. 7% 6% 7 7% United F. Cos. .124% 125% 121% 125% j U. S. In. A. ... 49% 4040% 59% ; U. S. Rubber . 53% 52% 53% ,52% j U. S. Steel 84', 82% 84% 83% I U. S. Steel pfd.117% 110%. 117% 116% Utah Copper..'. 63% 02% 63% 63 I Vanadium Steel. 31% 30% 31% 30% ! Wabash Ist pfd. 29% 19% 20 20% j White Oii 9 8% 8% 9 1 Wesths. Elec... 50 -19% 50 mi I White Motors.. 35% 37% 38 37 j Willys-Overland. 5% 5% 5% 5% j Wilson A C 0.... 30 30 So 29% Worth. Pump.. 44% 44% 44% Woolworth ....140 1-10 140 138 West. Pacific... 15% 15% 15% 15% ♦Ex-dividend.

NEW YORK LIBERTY BONDS. —.Tan. 13. I'rev. High Low Close Close L. B. 3’As 1)7.90 97.56 97.00 07.80 L. B. 2nd 4s !)7.7(i 97. CS L. IS. Ist 4’4S .. 08.30 97.88 97.90 97.90 L. 15. 2nd 4%s ..97.98 97.71 97.80 97.94 L. B. 3rd 414s .. 98.11 97.94 97.90 98.00 L. B. 4th 4%s .. 98.10 97.00 97.90 95.00 Victory- 3%s 100.31 100.24 100.22 100.21 Victory 4%s 100.28 100.20 100.22 100.24 NEW YORK WOOD. NEW YORK, Jan. 13—With trade fairly active, wool prices ruled steady on the market here today. Domestic fleece, XX Ohio, was quoted at 25@39c; domestic pulled, scoured basis, at 18@ 67c, and Texas domestic, scoured basis, at 40@75c per pound. NEW YORK METAE MARKET, NEW YORK, Jan. 13.—Copper—Dull; spot, January, February and March, offered 13V4c. Lead—Quiet; spot, 4.70® 4.55 c; January and February, 4.70(3: 4.SOc. Spelter—Easy; spot and January, 4.72%(g4.50c; February, 4.72',4(5,4.800. Local Curb Market (By Newton Todd) —Jan. 12— Am. Hominy com 14 20 Central and Coast Oil 2 Choate Oil Corp % 1% Columbia Fire Ins. Cos 6 7% Comet Auto 1 2 Dayton Rubber Units 51 91 Dictorgraph Prod, pfd 42 52 D. W. Griffith 8 9% Elgin Motor Car 2 3Vi Federal Fin. Cos. pfd 70 80 Fed. Fin. Cos. om 122 129 Gt. Sou. Prod. & Kef 5 0 Indiana Rural Credits 50 00 Metro. 5-50 e Stores com 0 9 Metro. 5-50 c Stores pfd 20 27 National Underwriting 3% 5 Rauch A Lang Units 20 30 Rub.-Tex. Units 14% 1014 U. S. Automobile Units 08 78 U. S. Mfg. Cos. Units 150 104 BANK STOCKS. Commercial Natl. Bank 71 SI Continental Nat’l. Bank 109 110 Indiana Trust Cos. 175 190 Indiana Nat’l. Bank 200 270 Merchants Nat’l. Bank 280 Security Trust Cos 130 State Savings and Trust .... 91 98 Union Trust Cos 300 Wash. Bank and Trust C0....150 TOLEDO SEED PRICES TOLEDO, Jan. 13.—Clover seed—Cash and January, $13.9714; February, $13.85; March, 813.75; April, $12.90. Alsike— Cash, $11.60; February, $11.05; March, $11.75. Timothy—Cash and January, $3.20; February, $3.30; March, $3.35. WHOLESALE BEEF PRICES. The following are today’s wholesale prices for beef cuts as sold on the Indianapolis markets of Swift & Cos.: Ribs —No. 1. 18c; No. 2. 15c. Loins—No. 1, 22c: No. 2. 18c. Rounds—No. 1 14c; No. 2, 12c. Chucks —No. 1,9 c; No. 2, Bc. Plate3 —No. 1, Sc; No. % Sc.

RAILS SHOW SOME STRENGTH Chandler Makes Upturn of 4 Points in Final Hour. NEW YORK. Jan. 13.—The tock mari ket closed strong today. Increased strength was shown in the I last hour when many of the leadiug | issues moved into high ground for the I day. ; Steel common got up to 84%, while Baldwin Locomotive touched 95% and Crucible Steel 61%. Chandler Motors continued in demand, selling at 53%, an upturn of 4 points, while Famous Players Laskey moved up to 81%. Mexican Petroleum touched 110 and Pan-American Petroleum 51%. The railroad shares made fractional gains. Government bonds were unchanged and railway and other bonds strong. (By Thomson & McKinnon) —Jan. 13— The leading influence iu the stock mar- : ket, Ihe one that gives the market its stability and operators courage, is the continued ease in the money market. It is perfectly logical that with money in ample supply at low rates, those operating on a large scale can find profit In the difference between the cost and the dividend yield of the securities. This, iu the past, has always been an influence in the same direction. In addition to ali this we have very favorbale foreign advices indicating a disposition to modify the German reparation terms and it is generally conceded that anything that will tend to prevent international friction, will ultimately be beneficial to all the world and particularly to businss in this country. Iu today’s business there was a noticeable Increase In the public demand. Tjlis buying coming mainly in moderate quantities and fairly well distributed. This is an indicator of u more confident feeling through the country with regard to the immediate business outlook, it is, how- j ever, well to bear in mind that in many : large sections of the country business is j entirely dependent upon the prosperity of . ♦he agricultural interests. This is particularly true of the great Northwest and until you have ii change in the farmers’ condition it is hardly likeIv that any big business improvements may be expected. And while we have no i doiibt as to the ultimate return of pros- j perity we continue to feel that temporarily It is more advisable to accept prof its oft at least a part of your holding during strong market days. THKNTI stocks average. NEW YORK, Jan. 13.—Twenty Indus-j trial stocks Thursday averaged 79 96, off, .07 par cent. Twent active rails aver- ; aged 74.0-5, off .04 per cent. CLEARING 801 SE STATEMENT. NEW YORK, Jan. 13.—Exchanges. $74‘J.400,000 ; balance*, $77,100,000 : Federal Reserve Bank credit balance, §G7,300,(H)0. ! j Money and Exchange Indianapolis bank clearings Friday were $3,0i1.b00. - Bank debits Friday were $0.000,0!m. NEW YORK, Jan. 13.—Tho foreign exchange market opened nn< hanged today, with demand Sterling %c higher at $4.23. ; Francs rose 1 centime to B.lßc for cables, and S.l7c for checks. Lire cables were 4.3C%c; checks, 4.35%c. Belgian cables: were 7.83 c; checks. 7.82%c. Marks were off 1 point to .0053%c. Guilder cables i were 3b.Slc; checks, 30.80 c.

NEW YORK CALL MONEY. NEW YORK, Jan. 13.—Money; Call money ruled 3% per cent; high. 3% per cent; low. 5% per cent. Tine' rates easy, all 4% per cent. Time mercantile paper easy. * Sterling exchange was steady, with business in bankers’ bills at $122% for demand. MOTOR SECURITIES. (By Thomson A McKinnon.) —Jan. 13 — —Closing Bid Ask. Earl Motors 3% 4 Packard com 0% 6% Packard pfd 63 65 Peerless 34% 35% Continental Motors cum 5% 0 Continental Motors pfd 8* 87 Hupp com 12% 12% Hupp pfd 90 Reo Motor Car 17% 18% Elgin Motors 1% 2% Grant Motors 1 1% Ford of Canada 234 2.5* National Motors 1% 2% Federal Truck 14 10 I’aige Motors 13 i t Republic Truck 7% 8%

ACTIVE OIL STOCKS. (By Thomson A McKinnon) —Jan. 13. — —Opening j Bid Ask Borne-Scrymser 320 310 Buckeye Pipe Line 80 ss Chesebrougli Mfg. Cons 170 luo Continental Oil, Colo 125 130 C'osdcn Oil and Gas 0 s Crescent Pipe Line 27 29 Cumberland l’t-pe Line 115 122 j Kik Basin I’ete 0 0(4 Eureka Pipe Line . 82 85 Galena-Signal Oil. Prof 99 lot Galena-Signal Oil, Com 40 12 Illinois Pipe Line 105 170 Indiana Pipe Line 81 80 Merritt Oil SVi 8% Midwest Oil 2% 3 Midwest ltfg 16.3 175 National Transit 271) 50 Northern Pipe Line 90 95 Ohio Oil 25> 205 | Oklahoma I*. A R 3Vi 3% i l’enu.-Mex 10 19 j Prairie Oil and Gas 520 535 Prairie Pipe Line 22-> 230 | Sapulpa ltefg 5 314 Solar Refining 370 380 Southern Pipe Line 140 115 South Penn Oil 180 190 Southwest Penn Pipe Lines. 71 77 Standard Oil Cos. of Ind 84C 85 Standard Oil Cos. of Kan Slid 570 Standard Oil Cos. of Ky 440 450 Standard Oil Cos. of Neb too 170 Standard Oil Cos. of N. Y. ..350 355 Standard Oil Cos. of Ohio ....350 380 Swan & Finch 30 40 Vacuum Oil 305 315 Washington Oil 30 35 NEW YORK CURB MARKET. (By Thomson & McKinnon.) —Jan. 13. —Closing— Bid Ask Acme Packing 40 Do Curtis Aero, com 2V4 3% Curtis Aero, pfd 18 23 Goldfield Con 2 5 Martin Perry 21% 21% Jumbo Extension 3 0 Imperial Oil (Del.) 9% 9% Nipissing 0% 6-N s Standard Motors 3% 3Vi Salt Creek 33% 34% Tonopah Extension 1 9-10 1(4 Tonopah Mining 17-10 19-16 United P S New 1 15-16 2 11. S. Light and Heat 80 85 U. S. Light and Heat pfd. .. 1 l'/4 AVrtght-Martin 2 5 Yukon Gold Mine Cos IVi lVi New Cornelia J7Vi 18 United A’erde 27% 28'4 Sequoyah 3 7 Rep. Tire 15 25 CHICAGO STOCKS. —Jan. 13— (By Thomson A McKinnon) Open. High. Low. Close. Armour pfd 91 Vi 91% 91(4 91% Carb. A Car 44% 44% 41% 44% Libby 0% S”J 5% 5% Natl. Leather.... 2% Piggly Wiggly.. 35 36V4 35 36% Stewart AVarner 27% 29 27 % 28 Swift A Cos 98 108 98 101 Swift Inter 22 23% 22 22% NEAV YORK SUGARS. NEAV YORK, Jan. 13.—With trade fair raw sugar prices ruled firm on the market. here today. Cubas were quoted at 3.61 c per pound, duty paid, while Porto Ricos sold at 3.42 c per pound, delivered. Refined sugars were in fair demand at steady prices. Fine granulated was quoted at [email protected] per pound, while No. 1 soft sold at 4.90 c per pound. NEAV YORK COFFEE. NEAV YORK, Jan. 13.—Coffee values were easy in trade on the market today, opening options being 2 to 5 points higher. Rio No. 7 on spot sold at 9@ 9%c per pound. NEW YORK RICE. NEW YORK, Jan. 13. —Rice prices were strong in trade on the market, here today domestic selling at 3%@7%c per pound.

INDIANA DAILY TIMES, FRIDAY, JANUARY 13, 1922.

New York Bond

(By Fletcher American Cos.) —Jan. 13— FOREIGN GOVERNMENT BONDS. Bid. Ask. Arg. (unlisted) ss, Sept. 1, ’45 73 74 Arg. 7s, Oct., '23 98 98% Belgian Os, Jan. 1, ’25 95% 90 Belgian 7%5, June 1, ’45 105% 105% Belgian Ss, Feb. 1, ’4l 105% 105% Berne Bs, Nov. 1, ’45 107 108 Brazil Bs, June 1, ’4l 104 104% Chile Bs, Oct. 1, ’26 99% 99% Chile Bs, Feb. 1, ’4l 101% 102 Chile Ss, Nov. 1, ’4O 101 101% Christiania Bs, Oct. 1, ’45 100 107 Copenhagen 5%5, July 1, ’44. 87% 88 Danish Mun. Ss, Feb. 1, ’4O. .106% 107% Denmark Bs, Oct. 15, ’24 107% 108% ♦Canadian 5%5, Dec. 1, ’22.. 93% 94% ♦Canadian 5%5, Nov. 1, ’23.. 93% 94% ♦Canadian 5%5, Nov. 1, ’24... 92% 94 ♦Canadian ss, Dec. 1, ’25.... 90% 92 Canadian ss, April 1, ’26.... 96% 97% Canadian 5%5, Dec. 1, ’27.... 93% 95% Canadian 5%5, Aug. 1, ’29.... 97% 98 Canadian ss, April 1, ’3l 93% 90% •Canadian Bs, Oct. 1, ’3l 91% 92% Canadian 5%5, Nov. 1, ’33.... 95% 97 ♦Canadian 5%5, Nov. 1, ’34.. 92% 94% Canadian ss, March 1, ’37... 95 90 ♦Canadian 5%5, Dec. 1, ’37... 97% 99 French (Viet.) ss, Op., ’31... 04% 05% French 4s, Opt., ’43 50 % 52 French 7%5, June ’4l 95% 95% French 7s, Sept. 15, ’45 100% 100% .lap (First) 4%5, Feb. 15, ’25. 85 88 Jap (Second) 4%5, July 10, ’25 80% 87% Jap 4s, Jan. 1, ’3l 74% 74% Mexico ss, Jan., ’45 54 00 Mexican 4s, Jan., ’54. 40% 41 Norway Bs, Oct. 1, ’4O 109 110 Queensland 7s. Oct. 1, ’41....107 107% Rio de Janeiro Bs, Oct.. ’46...100% 101 Kao Paulo Bs, Jan. 1, ’36....101 101% Swedish os, June 15, ’39 95% 95% Swiss 5%5, Aug. 1. ’29 90% 90% Swiss Bs, July 1, ’4O 114% ils U. K. 5%5, Nov. 1. ’22 100% 100% F. K. 50-s, Aug. 1, "29 100 100% V. K. s%*b. Feb. 1, 37 (98 98% Uruguay Bs, Aug. 1, ’40.,,.. .104% 105 Zurich Bs, Oct. 10, ’4O 108 108% Bergen 106% 108% •Internal loan*.

CORPORATION BONDS. Bid. Ask. | Allied Packers 0s OS% o>% i Amor. Tel. Tel. os, 25....110 , 100% ; Atchison Gen. 4s, B'% 88% Alum. Cos. of A. 7s, No*.., ‘23.. PI -101% Am. Colton Oil Os, Sept. 2, 21 9’ 94% Amur. Tel. os, Oct., 22 loth's lot)'* Ann r. Tel. os, Feb., 24 I'll I'd'a Amer. Thread os, Dec.. '28... 99 „ 1”" i Auier. Tob. 7s, Nov., 22 101% I'd * Amer. Tob. 7s, Nov., "23 1"2% l 1 2 i t Anaconda 6s, Jan., '29 98 98% Anaconda 7s, Jan., '2*9 lot's 102% j Anglo-Am. Oil 7%-. Apr., '23 PC's 103 "i Armour 7s, July 13, 30 102% 192 ‘W Atlantic R-f. O' •. Mcli., ’31.. 105 i BM% Bell T. l- of Can. 7s. Apr.. ’25.100% PX)% Beth. St-d 7s, July 15, '23.. 1"! 101% Bell of Pa. 7s 108% 109 Can. Nor. o%s 19% 110% Can. Nor. 7s, .....109% 110 C. 15. Q. Gen. 4s 87% 87% C. B. Q.—lll. 3%S L> 80% C. B. Q.—Neb. 4s 91% 96% C. B. Jt. 0%-' lt'7% 108 Chic. N. W. 6%5, l'>7 107% Chic. & >’. W. 7, 1 5% 1110% Col. Graph Bs, 31% 53% Cuban Am. Sugar ss, 101 s 1"2% Can. Pacific 6s, Mi 0 2, '24..Pd Id s Cent. Arg. Ry. Os Feb.. '27.. 89', 90% C„ It. I. & P. IP, leb , '22.... 99% 100's Con. Gas 7s, 1 'ee., '22 101% 101% Copper l'.xp. Bs, Feb. 1-. '22..100 100% Copper Exp. Bs, Feb. 15, '23..101% 102 ♦ upper L'.xp, Bs, Fell. 13, '2l. .1(12% 103% Copper Exp. ss. l’eb. 15. '23. .104% 104% Cudahy 7s, July 15, '23 Pn'% 100% Du pone T'.-js, ..103% 101% Fisk Tire 8s 100% 100% Fed Sugar os, Nov, '24.... 97% 98 Goodrich 7s, Apr., '25 97 % 98% Gulf <il (is, July, "23 99% 1 *'■ % Gulf Oil 7s. l'Vb.. ’33 103% 103% G oil)ear Ist Bs. ’ll 111% 112% Goodyear Deb. Bs. ’3l I*B% 98 * (Jre.it Northern 7s, 108% 108% Grand Trunk 0s 10! % 102% Grand Trunk 6 %, 102% li>3% Grand Trunk 7s 108% 109% Heinz 7s. Dee.. ’3O I**3% 101% Hocking Val. (is, Mch., ’24.... '.6% 98% Humble Oil 7s. Mch. 15. ’23..101 lot% Int. R. T. Bs, Sept . '22 75 76 111. Cent. Ref. 4s, ’55 81% 87*% Inter. Met. 4%5, 9% l‘>% Interboro 5 s 56 57% Kelly-Sprlngtield Ss 103% 104 K. C. Term os. Nov. 15. '23.. 99% l A > Kenn. Copper 7s. Feb. '30.... K'2% 103 Laclede Gas 7s. Jan., ’29 VV% 96% Libby-McNeil 7s, May, ’3l 98% 99% L. it N. 7s, ’39 106% 107% Mex. Pet. 8s 9j-% 100% Minn.. St. I*. & 8. S. M. 0%5,.101% 102 Morris 7%s P’2 102% N. Y. Central 7s, ’3O P>6% 106% i N. Y. Tel. Kef. 6s, ’ll P>2% 103% N. Y. Edison 6%% ’4l 10*7% 100% Nor. I’ac. P. I. is 85% 85% Nor. I’ac. G. L. 3s 61 61% Nor. Pac. 6s, Id's l"s% Nat l Leather Ss, Nov. 15. ’25 96 97 Proctor .V <i. 7s, M< h., "22 100 100% Proctor A- G. 7. Mch . "23 101% 102% ! Public S. r. N. J. 7s. Mch., ’22 99% 1* 0% P. n. Amer. Pet. 7s, ........ 9",% 97 Penn. 6' s, 106 106% l’eill . 7s 107% 108 Philippine 5%5„ 'll lot 161% R. J. Reynolds 6s. Aug.. ’22 .pi% P% Sears-Roebuck 7s, Oct. 15, '22 99 99% Sears-Roebuck 7s, Oct. 15, '23 97% 9*% Sinclair 7'-s, May 15. '25.... 99% 100% Solvay & Cio Ss, Oct . '27 103 104 Southern Ry. Os, Mch., '22.. 99% 99% S. W. Bell Tt'l Apr., '25..P'2 102% S. Oil. (Cab) 7s, Jan., ’31.... 105% 100% K. Oil (N. Y.) 7s. Jan., *25- 31 104% 110% S. Oil (X. Y.) O'/'S, May, ’33.. 108 109 St. Paul V D 5%5, Doc. 15, ’23 99% 100 Swift 7s, Oct. 15. ’25 101 101% Swift 7s. Aug. 15. '3l 102% 102% I St. L.-Snn Fran. P. L. 4s, . 08% 69% ! St. L.-Snn Fran. AdJ. Os 72 72% j Seaboard Con. 0s 41 % 42% ! Steel & Tulle 7s 97% 97% ! Tidewater Oil %. 99% 99% i Texas Cos. 7s, Mch. 1. ’23 10T% Id-,! L’tah Sec. os, Kept. 15, ’22.... 97 97% I Inion Tank Car 7s 1"7% P*s% ! F. S. Rubber 7%s 105% pis% j Vacuum 011 7s, 107% 107% \ Ya. Car. Cliem. 7%5, ....... 91% 91% j West’n. Union o%s 107'% 108 j Winchester 7%5, 9S : ; s '.19% i Big Four 0s 96% 97% | Wilson 7'%s 94% 94% j Western Bell 7s 97-% 98% Western El. 7s. Apr., "25 104% PH’% Westinghouse 7s, May, ’31....106% I<*7

In the Cotton Market

NEW YORK, Jan. 13.—A good deal of selling occurred at the opening of the cotton market here today and prices dropped 12 to 10 points at tiie outset, followed by further depression In sympathy witli weakness nt Liverpool, where unfavorable political conditions governed. The South. Wall slrcet. New Orleans and tile Continent sold here, while Japanese anil Liverpool interests were the chief buyers. At the end of tiie first fifteen minutes the list was about 20 points net lower. New Y’ork opening cotton prices: January, 17.82 c; March, 17.75 c; May, 17.38 c; July, 10.90 c; October, 16.30 c. The market was quiet throughout the afternoon. The close was steady at a net advance of 9 points to a net decline of 2 points. Spot cotton was quiet anil unchanged at 15.25 c. There were no sales. —Cotton Futures--Open. High. Low. Close. January 17.82 17.95 17.75 17.95 March 17.75 17.95 17.02 17.58 May 37.33 37.57 17.23 17.54 July 10.90 17.09 10.83 17.07 October 10.30 16.40 10.15 10.45

LIVERPOOL, Jan. 13.—Spot cotton was quiet at the opening of business today. Prices were steady and sales around 5,000 bales. American middlings fair, 13.10d: good middlings, 11.45 U; full middlings, 11.03d; middlings, 10.70d: low middlings, 9.55d; good ordinary, S.OOd; ordinary, 9.25d. Futures opened quiet. NEW YORK HIDES. NEAV YORK, Jan. 13.—Hide prices were firm in trade on the market here today, native steer hides selling at 16c per lb and branded steer hides at 15%c. NEAV YORK PETROLEUM. NEW YORK, Jan. 13.—Petroleum prices were steady In trade on the market here today, Pennsylvania crude selling at $3.25 per barrel. NEW YORK TURPENTINE. NEW YORK, Jan. 13—Turpentine sold at 93c per gallon in trade on the market here today.

SWINE VALUES SUFFER LOSSES Cows Weak and Other Grades of Cattle Barely Steady. RANGE OF UO PRICES. Good Good Good Jan. Mixed. Heavy. Light. 5. ?7.70@> 8.00 $7.50© 7.75 SS.OO@) 8.25 6. B.oo© 8.25 7.85® 8.00 8.25© 8.50 7 8,25® 8.50 7.75® 8.00 8.75® 0.00 9. 8.20® 8.75 B.oo® 8.15 8.75® 9.00 10. 7.75® 8.25 7.25® 7.50 8.25® 8.50 11. B.oo® 8.35 7.50® 8.00 8.26© 8.75 12. 8.50® 8.75 B.oo© 8.25 8.75® 9.00 13. B.oo® 8.25 7.75® 8.00 5.25® 8.50 Swine prices were 23 to 50 cents lower in trade on the local live stock exchange today, with receipts close to 8,500 and tue demand rather slow by both packers and shippers with Eastern house connections. Lower prices iu Chicago anil elsewhere also influenced the trend of the local mart. There had been but few sales up to the middle of the forenoon, tho commission men holding out for better prices than were being bid, but after that there was a little better activity* to trade. Asa final effort, commission men made efforts to hold the market to 25 cents lower, but botli packers anil shippers refused to take swine on that schedule. Packers had purchased a few heavy and mixed swine at a late hour iu the forenoon, while the shippers confined i heir purchases lo the lighter grades, it was thought there would be a lair clearance for the day. There was but little, if any Improvemen in the trend of trade in cattle over ; that of the market ot tiie previous day. Receipts ran close to 700 for the day and there was a little better quality of | stuff offered than on the day before, but , prices were generally barely steady to j weak. Cheaper grades of cows were 25 | cents lower generally, while there were j spots that wore 50 cents lower. Bulls, ; also wCre barely steady to weak iu spots. Calves were barely steady to 59 cents lower, with receipts close to 500 and the, demand rather slow. Both sheep and lambs wore steady.! Receipts ran close to 40!). The quality vas fair to good and the demand good.

IIOUS. j 8.-st light hogs, 150 to lsi lbs average $ $.25%. 8.50 Over 300 lbs 7.75 150 to 300 lbs *%. v ' *'J r ’ Mows 3.75 'hi 0.50 Stags 5.00%! 5.50 Best pigs, under H’J lbs i .5<"% >.7. Bulk of sales 7 7.ji 3.25 Tops V.7SJS 8.25 —Cattle— Prime corns.-d steers, 1,301 to 1 .so) lbs 7.90g£ S 25 Good to choice steers, 1,200 to 1.300 lbs 5.7544 G. 50 Good to choice tdi era, 1,1(8) lo 1.209 lbs 5.255 J 5.75 Good to choice steers, 1.000 to 1,100 lbs 5.004a’ 5.25 Common to medium steers, | 800 to 1,000 lbs 4.2542 4.75 —C’ows and Heifers—i Good to choice heifers 5.50 (it 750 Medium heifers 4.o<>f'i s,ii Common to in.'ilium heifers.. 3.5'* ■ 4qp i Good to ehoic > cows 3-isi’ii. 50 1 J Fair to m-'diuni cows l.ijd'd. 2 50 Cutters 1.2-s'i ■ 250 jCa nners 7.5 m 1.59 —Bulls—i Good to choice butcher bulls 2.5 iv./, ! 7.5 j Bologna bulls 3.004$ 359 | Light bologna bulls 2 50(u! 275 Light t.i common bui's 2.0 2.50 —C lUvos—• ! Choice veals 10.504111.50 Good veals U.r.Oto in. 59 Medium veals 7.50/, t !.( .5 I Lightweight veals 6.50'u. 7..*si Common to hoiryweight veals 5.W(.j 0.50 . —Ktoi'licr* amt I'wdcrs— Good to choice steers under NW lies 4.aO@ 475 i Medium rows -.'Phi 3. .50 ‘ Good cows ;i r, I'.g 4.gr, | Good heifers p.O • 0.50 Medium to good heifers t ill./ 4.75 Milkers 37.u0w73.0U —Sheep and lambs— Ewes 1.0/Vlf 3.50 Bucks 2.50 W 3.50 Good to choice lambs 10.00/o i;;.ih) : Seconds X.oo/ujo.oo j Buck lambs Ci.so/ ( > .s.uo , Cull* 4.UCKJA S.UU '

Other Livestock

CHICAGO, Jan. 13.—Hogs— Receipts. 48 000; market, 15 to 25c lower; bulk of sales, $7,751)48; top. $8.40; heavies, $7 q-,; 7. mediums, $7.750 8; lights, $7 .i.Vo. 1"; light lights, $-8.2.1111 8.40; heavy packing sows, smooth. $6 50557.25; packing So\i s. rough, s6.2'si)io 05 ; pigs, V-7/ •. I * attli-—Receipts, b.uuo; market, weak to <■!- !n" ,r ' .*?*'* 1 f:, ”' r ' s ' choice and prime. I ;>.!'/ 10; men mm ami good. $7 n.9.10 • ,-noil ' and choice, $8,156)10; omui'.i, anil m. ! nmm. fiiale: butcher cattle, heifers, s46i 8, cows, f3 5664.0.25; bulls, $3 9i' 6- canmri a, *d cutters, cows and heiters 255 : 'ii.i .'O; rainier steers, $3 256 4 t ".7 • s,. |I calves, $6.756(9.50; feeder steers, $5 -.v,v "No; Stocker steers, *4.30*40.75:' Mocker i cows and heifers, $36/5. She, p and I.uuhs- iii ecipts, io.ooii; market, 15 to ~?Yr r ’ B'o°d to choice Jamil . sn.so6t 1- cull and el.numm. $96iH”5- \,ar Lug wethers. $9 256/11.50; ewe '51754,, ■ : cull and common, $2.50%. t. 50 ;Gs der lambs, $9.754/11.75. ’ ' t i NCINNATI, Jnn. 13. Hogs—Rc- / r •*"mn'r'kto ' , market > steady to 25,- highco’-. , 1 I;lt, ’ r reacted, heavies >.v,r mixed and mediums, is 506?.8 75 sf ’-I* a r l „/; lK!, ’ I .*' : . r ” *6; s'.'s-s! J-’i,.. , V,' -Receipts, MM; market. Heady hulls, steady;! calves, $11.506/' -• i>DPt*p nnd lam Its U*vpint* iim murker strong; owes, $1,506, 1.5.?: *14,6 lumbs, sls; seconds, $9; culls, CLEVELAND. Jan. 13—Uogs-Re. ccli'js, 2,000; market, slow; vorkers ! 1,1 1 x*‘<l, $S ~; mediums $.8.7., ; 1 feint? 11 ?,V?’ ?,i: , s '’•'*• ?• •'at tie-- Re1, , ~)9 . market, slow and 25 rents loner; good to choice steers, $7 25m ' ‘l’ ‘'hoice heifers. $4,756/5.75; ! -"Ill to choice nnvs, $3,756/1.75; fair to .7."!!!., $2.756/5.75; common rows ■;1....("- guild to_ choice bulls, $4,254/ • iiiiikiTh, (i.. Shu<|> anil Imnlu; - eeeipis, 114)0; market. 25 Vents higher; sl4. ( alves—Receipts, 200, market Slow; top, $12.50. ’ ‘ ' EAST BUFFALO, Jan. 13— Hogs—Receipts, 10,40(1; market. Slow Steady ■ ***- $-8,754,9; mixed! $8,.,06/8.70; heavies, SB6/8.50; roughs s(>6/(>.,K): stags, $3.50®4 50. Cattle--Re-ecipts, -o®!.market, slow steady; shipping 2 r e AT R / A butcher grades, $7/21"/; .8.00 ; heifers, $.>4i,7.00; cows, $26(0.50 ; liulls, $3.206f5.i r >; feeders. $56/6 ' liiilk cows and springers, $306/'130." t%lvcs - I.ecelpts, 1,400; market, slow steady; cull to choice, s.|6| 12.n0. Sheep and Jambs— Receipts, I3.0OO: market, slow steady; choice lambs, $12,756/13; cull to fair, £‘V ,( I?* 1 -; yearlings, $7,306/11.50; sheen, (a <.50. * ’

EAST ST. LOUIS. .Tan. 13,—Hogs—Ro ceipts, 31,5<)0; market, 35c to 50c lowermixed and butchers, $7,906/8.40; gomi heavies, $7.506i8. roughs. SO6/0 25; lights $S 2i(i/.8/4>; pigs, $8,256/8.50; bulk of salcs, $1.90(1/8.325. Cattle—Receipts, 1 500; market, steady to strong; medium to good grades, steady; good to choice grades, strong; native beef steers. $76/9 yearling steers and heifers, $76/9 25; eows, $3.256}u.75; stackers and feeders $46/0.8.); calves. $2.506(10.50; tanners and cutters. $2.23@3. Sheep and lambs—ewes, $5,506/0; choice lambs, <lO 504/ 12.25; canners and choppers, sl6/0. PITTSBURGH, Jan. 13.—Hogs—Receipts, 3,000; market, steady to 25 cents hiKher: prime heavies, $808.25; mediums, $8.7,1(14!); heavy yorkers, $9649.25; light yorkers, $9.2;>@9.50; pigs. $9.236/9 50 • roughs, SO6/6.75: stags, [email protected]; heavy mixed, $8.4008.50. Cattle—Receipts, 100, market, steady; choice, $8.50619; prime, 15^:7.50; good, $7.5008; tidy butchers, $707.00; fair, $h06.70: common, $46/5; 1 common to good fat bulls, $3.5003 50; icommon to good fat cows, $36i0.50 Nhciters, $4,236)0.73; fresh cows and springers, $356480; veal calves, $12.50; heavy and thin calves, SB6/9. Sheep and lambs— Receipts, 600; market, steady; prime wethers, $6.756/9; good mixed, $5.7561/ 6.50; fair mixed, $4.7505.50; culls and commons, $1.7502.50; choice lambs sl3 5o

CLEVELAND PRODUCE. CLEVELAND. Jan. 13.—Butter—Extra in tubs, 38%@39e; prints, 39%®40e; extra firsts 37%@35c; firsts, 36%@37c; seconds, 31tfi31%c; packing stock, 18@ 20c. Eggs—Fresh gathered, northern extras, 41c; extra firsts, 40c; Ohio firsts, new cases, 3S%c; old cases, 3Se; AVesterii firsts, new cases, 37c. Poultry Live, heavy fowls. 27c; spring culls, 20@22c; spring ducks, 28@30e; turkeys, 40@45c; Potatoes—Michigan $2.95 per 150-lb bag; early Ohlos, $2.10 per 120-lb bag. Sweet potatoes—Jerseys, sl.Ss@2 per hamper.

GRAIN VALUES CLOSE HIGHER j Good Demand by Commission Houses Is Factor. CHICAGO, Jan. 13.—Grain prices moved to higher levels during a dull lay on the Chicago Board of Trade today. Professional interest in the market lagged. The advances were due to a good demand by commission houses. Provisions were higher. May wheat opened at $1.10%. off l%e. anil closed up l%e. July wheat opened at 99%e, off %e, closing nr lc. May corn opened off %e - 53%c and closed off %c. July corn opt dat 54%e, off %c, anil closed unchanged. May oats opened at 3S%c, off %c. and closed unchanged. July oats opened unchanged at 39%c and closed unchanged. (By Thomson & McKinnon) —Jan. 13— Wheat —A considerably improved buying power has prevailed in today’s wheat market, but it seems to lie a centralized rather than a general nature. It is thought to be inspired by a cable item to (he 1 fleet that Germany would lie granti'd a iuoratorum and also by a nows item to the effect that negotiations between the German Iteischsbank and Federal Reserve Bank had been about completed and an impression prevailed that Germany would be granted a loan. These items were accepted ns meaning a better demand from Germany for foods and commodities. The market lias been helped also by a little broadening of the milling inquiry, several markets reporting a better demand and consequent : strong premiums for current receipts. 1 Argentine shipments were smaller than | expected and unsettled weather is inter- j faring with harvest. One message from 1 a Canadian point reported 1.500.000 bush- j cis Manitoba® sold n r export vesterilay, ! but outside of this nothing 'has b. en I le ard of concerning (he foreign demand. I At the moment, the market promises to di-'piny sti tidiness if net strength anil i v tll be susceptible to an expected de-I ■ •f. ase in Monday's visible supply figures, i it remains to b > seen whether mate- j ■ w Imaneei! aid wiil be extended to j Germany and if so, whether she will lake our wheat or prefer the cheaper! .d.'tnitoba sort or the still cheaper rye and corn. . |,orn and Oats—The action of wheat ' 1 it!."! G> stimulate either corn or onls 1 til re being no revival of outside inter- 1 est or reinstatement of holdings bv those I in the trade who are friendly. Offerings from the country arc light, but it 'is 1 claimed that when the market permits . paym nt of 40 cents to the producer that . tht re will be an increase. Export trad ' is quieted, temporarily, possibly because of tii" advance in ocean freight rates. 1 revisions—Products have not s.vinpn- i (hizi'il with att easier hog market for the ; reason that packing Interests are not ( seen as Ilers at any time, but they are ! stiH 1.-low a parity with hogs and should 1 work higher. CHICAGO OR UN TABLE. —Jan. 13— \\ 111. AT Open. High. Low. Close j May.... 11.1% 112% 109% 1.11% ( July 99% i.oi% ,us% 1.00% | .r.3% .53% .53 .5;;% i 1, Vi * w '‘ ■'"’ * i 'May - .'.. .r.st_. ,3s % "„S% ..35% July 3b % 91; 3J.T? I I’ORK— ’ ‘ s ‘ LARI',- 1010 | Jan 9.12- 9.12 9.05 912 May..., 9.12 947 9.31 9.17 Rlß> j •Jan s 33 May.... 8.40 545 8.35 ,s 13 RYE- 1 •Nominal. " t

CHICAGO CASH GRAIN. CHICAGO, Jan. 13 Wheat—No. 1 hard uinter, $1.10", ; Vo 2 hard winter. M 1/0; No 1 mix.-. 1, $1.12. Corn—No. 2 mixed, U- 't'ii ia ; No. 2 white, 49e; No. 2 y Tow, 49*0 49 1 jc ; N... 3 mixed, 47 1 ■r4 4>%c: No. 3 white and No. 3 yellow. 4i% its'.c: No. 1 mixed, 405 j 17c; No 4 " itc, 46 : 'j(47e; No. 4 yellow, 46%'n !. %>C Oats -No. 2 white, 37%fu;38c; No. • white, UU-ioO.:; No. 4 white, 33^34*,5c. TOLEDO GRAIN IRI<'ES. TOLEI-O, Jan. 13.—Wheat —Cash, sll9 r *(L2l: May, $1.22%; Julv, SI.OO. Corn— I a h, 524/ 53c. Oats—u’csfi. SSlfiti4le. lfye— Cash, 85c. Barley—Cash, i'-'!c. PRIMARY MARKET. (By Thomson & McKinnon.) —Jan. 13—■ —RECEIPTS Wheat. Corn. Oats. Sf. Joseph ~ ii.O’)i) fio.tKX) 2,000 Chicago 12,000 929,000 247,000 Milwaukee .. 1,00*) lol.otH 57,600 Mum .ipoils , 226M00 st'.-OO*) 67)1100 Duluth 35,(410 41,000 It.tsH) 1 "Uls ... 58,1X4) id.'KM 118,000 .... 41,000 8,000 I' 'ridt . ... 3,(H0 8.0.0 6.000 Kansas City . 151,000 30,000 u.ooo ’ 1 eoria 2,o>D 151,0)4) 59,0001 "mai'.a 17,(55) 224,600 50,(K> 1 Indianapolis . B,‘Ki) 91,030 39,000' Totals 527,000 1,922.000 078,(4k) j Year ago ,1,118.000 1.219,600 501,090 —SIUI’MENTS Wheat. Corn. (la’s. St. Joseph .. 2.(44) 12. (K4I 2,000 Chicago .... 40,060 617.(44) 200,000! Milwaukee .. 1,0:so 101.000 52.H4); Minneapolis . 74 ) 44) 54.(4K) 115,000 j Duluth 37.000 St. Louis ... 58.(441 54.000 51.000 j Toledo 12,<4) 1 3.(44) 3.000 Detroit 2.<4’tl) 5,(44) 2,000 Kansas City . 127,’NX) 63,14)0 7.000 ’ 1 *ei)ri l 5,(44 ) 89,000 45.(14) i Omaha ?6.‘4(i) 249.144) 58,0:4) I Indianapolis . 3.0(H) 31,000 10,000 I Totals 403,000 1,311,00(1 017.(44)' Year ago .. 717.(4)0 752,000 3(52,000) —CLEARANCES— Wheat. Corn. Oats. ! Boston 01,1441 5,000 ; Philadelphia . 1.(41) 57,(44) Baltimore ... 52.00) 252.0"0 New Orleans 17,000 Totals 130.000 350.(44 ) 5,000 Year ago .. 952,000 7,(41) INDIANAPOLIS CASH GRAIN.

—Jau. 13Bids for car lota of grain and hay at (lie call-of tlie Indianapolis Board of Trade were: Wheat —Firm; No. 2 red, $1.2301.24. Corn—Firm; No. 3 white, 49%6)31c; No. 4 white. 48%6?50c; No. 3 yellow, 45 ! %6i lOTie: No. 4 yellow, 47%6f49e; No. 3 mixed, 47%6(45%c; No. 4 mixed, 40% 0:47 %c. Dais—Firm; No. 2 white, 37%@38%c; No. 3 white, 3603T%C. Hay—Steady; No. 1 timothy. $17.50018; No. 2 timothy, $176/17.50; No. 1 ilglit clover mixed, $1(i.506417; No. 1 clover, $176118. —lnspections Wheat—No. 3 red, 1 car; No. 4 rod, 1 car; total, 2 cars. Corn —No. 3 white, 5 cars; No. 4 white, 5 cars; No. 3 yellow, 4 cars: No, 4 yellow, 20 cars; No. 5 yellow, 12 cars; No. (i yellow, 5 cars; sample yellow, 1 car; No. 3 mixed, 7 cars; No. 4 mixed, 2 tars: No. 5 mixed, 1 car; No. 0 mixed, 1 ear; total, 63 cars. Oats —No. 2 white, 5 cars; No. 3 white, 10 cars: No. 4 white, 7 cars; No. 2 mixed, 1 car; No. 3 mixed, 1 ear; total, 24 cars

HAY MARKET. The following are the Indianapolis ; prices for hay by the wagon load, delivered : Hay-Loose timothy, $16.00@17; mixed hay, $15®16; baled hay, sl7@lß. Oats—Bushel, new, per bushel, 32(335c. Corn—Old, per bushel. 54@60c. WAGON WHEAT PRICES. Indianapolis flou/ mills and elevators today were paying $1.14 per Lushed for No. I red winter wheat; $1.12 for No. 2 red winter and according to test for No. 3 red winter. Oats were quoted at 27c per bushel for N’o. 3 white or better. CHICAGO PRODUCE. CHICAGO, Jan. 13.—Butter—Receipts. 5,900 tubs; creamery extras, 32%c; firsts, 27@31%c; packing stock, lG(gl8o". Eggs— Receipts, 8.000 cases; current receipts, 34<g35c; ordinary firsts, 30@32c; firsts, 36c; checks, 24(<i23c! dirties, 20(0 27c Cheese—Twins, new, 20@21o; daisies. 20@ 21%c; Young Americas, 20(521c; horns, 19%®20%c; bricks, 18@19e. Live poultry—Turkeys, 35c; chickens, 23c; springs, 22c; roosters, 17e; geese, 19c; ducks, 29c. Potatoes—Receipts, 31 cars; AVlsconsin’s, $2<52.15 per 150-lb. bag; Minnesotas, [email protected]; Red Rivers. $2(32.05.

Local Stock Exchange

—Jan. 13— STOCKS. Bid. Ask. Ind. Ry. & Light com 00 Ind. Ry. & Light pfd 75 Indpsl. & S. E. pfd 60 ludpls. & N. W. pfd ( I nil pis. St. Ry 40 45 T. H., T. & L. pfil 03% ... T. H„ T. & E. com 5 f. H„ T. & L. pfd 63% ... U. T. of Ind. com ... U. T. of Ind. Ist pfd ... 7 U T of lad. 2d pfd 2 Advance-ltumely com Advauce-ltumely pfd Am. Creosoting pfd 92% ... Am. Central Life 175 Belt K. K. com 00 ... ♦Belt It. R. pfd 47% ... Century Bldg. Cos. pfd 92 ... Citizens Gas Cos 25% ... Dodge Mfg. Cos. pfd 88 •Home Brewing 43 ... Ind. Hotel com 65 ... ♦ind. Hotel pfd 90 ludpls. Nat. Ins. Cos 3% ... Ind. Title Guarantee Cos 45 Indiana l’ipe Lines 83 87 j Imi pis. Abattoir pfd 40 ... I •inilpls Gas 44 : Inilpls. Tel. com 2 I Inilpls. Tel. pfd 90 ... i Mer. Pul). Util, pfd 4SYa | Nat. Motor Car Cos 2% I Pub. Sav. Ins. Cos 4% ... Rauh Fer. pfd 45 ... Stand. Oil of Indiana 84 80 ! Sterliyng Fire Ins. C 0....... 7 Van Camp Ildw. pfd H 4) Van Camp Packing pfd Ido Van Camp Prod. Ist pfd 't4) Van Camp Prod. 2d pfd 10*J Vamialia Coal Cos. coin gj/s Vandalin Coal Cos. pfd 4% 8,3 Wabash Ry. pfd 19 -• BONDS. Broad Ripple 5s ; 6*) ... Citizens St. Ry. 5s 72 ... Indian Ck. Coal and Miue 100 Ind. Coke G's 0s 82 80 Inilps. C. & 8. 5s 91 Indps. & Martinsville 5s 5. ... indpls. V North. 5s 81* 41 Ind pis. fc N. W. 5s 49 o*, Inilpls. & S. E. 5s o 4 Indpls. V S. E. 5s j* Indpls. St. Ry. 4s i>7 <>- Indpls. T. A. T. 5s 76,2 T. 11., I&E. 5s o 0 ... F. 1. of ind. Os 45% 4$ 2 Citizens Gas 5s 83 SS Indpls. Gas Cos 82 87 Kokomo, M. W. 5s 8-’ ... Ind. Hotel Cos. 2d 5s 95 ... Imlpls. 1.. .V H. 5s 83% 88 imlids. Water Cos. 5s 92% 90 Indpls. Water Cos. 4%s 8.) tier. II <i; L. 5s 90 98% Now Tel. Ist 0s 95 New Tel. i.. I*. 5s 94 . Sou. Ind. Power 5s SSVj •Ex-dividend. LIBERTY BONDS. Liberty first 3%s 97.36 97.50 Liberty first 4%-- 97.70 97.'.4) I.i'iertv second 4%s 97.76 97.92 Liberty third 4%s 97.88 9.8.02 Liberty fourth 4%s 97.0) 98.04 Victory 3% 100.00 100.20 Victory 4%s 1i>.).10 100.22 —Sales—sl,ooo Ind. Street Ry 4s at 57

V eather

Tiie f dlowing table shows the Btate of the weather In other cities at < a. m., Jan. 13 as observed by L‘. S. Weather Bureaus: Station. Bar. Temp. Weather. Indianapolis, Ind.. 29.53 21 Snow Atlanta, Ga 30.04 2$ Clear Amarillo. Texas .. 3ti.30 20 Clear Bismarck, N. D. .. 30.08 10 Cloudy Boston, Ylass. ... 29.92 1$ Clear' Chicago, 111 29.84 is Cloudy Cincinnati, Ohio . 29.84 24 Snow Cleveland. Ohio ... 29.82 lfi PtCldy Denver. Colo 30.22 3S Clear liudg" City, Kas. . :)(>.?') 32 Cloudy liid.na, Mont ... 30.34 32 PtCldy Jacksonville, l’la. .30.2!) 36 Clear Kansas City, Mo. . 30.14 22 Clear Louisville, Ky. ... 29.9" 20 Snow Little Rock. Ark. . 30.16 32 Clear Los Angeles, Cai. . 30.20 54 Clear Mobile, Ala 30.22 38 Clear New Orleans. La. . 3!).2t 40 Clear New York, N. Y. . 30.02 Id Clear Norfolk. Va 3.0 K 24 Clear Oklahoma City ... 30.26 50 Clear Omaha, Neb. ..... 30/8 22 Cloudy Philadelphia, I’a. . 30.06 20 Clear Pittsburgh, Pa. .. 29.90 4<) PtCldy Portland, Ore. ... 30.38 32 Clouay Rapid City. S. D. . 30.08 40 Cloudy Roteburg, Ore .. San Antonio, Texas 30.54 38 Clear San FmnciS' O. Cal. 50.28 44 Clear St. Irtiuts, Mo 29.98 22 Cloudy St. Paul. Minn. .. .‘4)04 0 Cloudy Tampa. Fla 30.26 4u Clear Washington, D. C. 3U4 14 Clear

WEATHER CONDITIONS. Tlx" stortn centered over the middle Mississippi Valley Thursday morning tin, moved northeast ward to the Great Lukes region, having been a°ci)mpanled by snow (lurries over those sections, tbe Ohio Volley and Tennessee. It has caused somewhat higher temperatures from tile western Lakes soutliward; hut temperatures are lower In the wake of (lie storm over most of the north-central States west of tho Mississippi. Colder 11 outlier also Is reported from the Atlantic States following the movement of the eastern storm which has now passed into tlio north Atlantic. The western field of high barometric pressure has raused a continuation of tow temperatures over the Grout I’late-au. and in conneetto with a depression In middlewestern Canada has given rise to chlnook conditions on the eastern slop of the northern Rockies. J. 11. ARMINGTON. Meteorologist. Heather Rureatt. 1 INDIANAPOLIS PRODUCE. Eggs —Loss off, 27030 c. Butter—Pack- ; itig stock. 15@17c. Poultry—Fowls. 1@ j 23c; springs, 19@23e: cocks, 11012 c; 1 stags, 13015 c; capons, 7 lbs. and up. 33c: capons, under 7 lbs., 29c; capon slips, 7 j lbs. and up, 27c; capon slips, under 7 !b?., j 23c; young hen turks. 8 lbs. and up. 33c; j young tom turks, 12 lbs. and up. 38039 c; old tom Mirks, 31032 c; cull thin utrkers not wanted: ducks, 4 lbs. and up, 16019 c; geese. 10 lbs and up, 146416 c; squabs. 11 ; lbs to dozen. $5: young, guineas, 2-lh. size, per tI"Z., $707.50; old guineas, per doz. $303.50. Butter—Local dealers are paying 306? 37c per lb. for butter delivered in Indianapolis. Butter Fat—Local dealers are paving , 32c per lb. for butter fat delivered in i Indianapolis.

® Before you plan your winter tours let us explain in detail the advantages of our Financial Secretary Plan. Booklet on request. FLETCHER AMERICAN COMPANY Second Floor Fletcher Bank Bldg. INDIANAPOLIS

EfINST & ERNST AUDITS-SYSTEMS TAX SERVICE 751-57 Lemcke Annex Cl rcle 2500 Offices in 26 Principal Cities

LONDON STOCK MARKET TONE IS CHEERFUL Many Issues Hang on Verge of Dull Side, With Trade Rather Light. DOLLAR RAILS QUIET LONDON, Jan. 13.—The stock market was more cheerful yesterday but the increase in business was light and many Issues still verged on the dull side. Gilt edged offerings exhibited irregularity. Foreign bonds were featured by a further advance in Russians, but other Europeans were marked by dullness, due to the state of currencies. Home rails opened in a blaze of strength, but subsided into fair activity. Dollar rails were quiet. Cana, dian Pacific gaining % of a point, and foreign rails recovered initial losses. Industrials displayed a better tone and iron, steel and engineerings were improved. The oil market was more cheerful, leaders being accorded some support. Mexici n Eagles were 3 23-32, Shells 4 17-32 and Royal Dutch 30%. Minings held firm in Africans despite the strike and American eased off a little. Repayment t<> the bank denuded credit in Lombard street and rates tightened. Overnight money went to 3%. day to day money 3 nnd fixtures 3% per cent. Bar silver fell ugain to 35%d and to 34%d for spot anil forward—Copyright, 1922, by Public Ledger Company.

HINDU REVOLT LEADER GENTLE AND EDUCATED Gandhi, British Aid In Time of Stress, Hopes For Indian Freedom. LONDON, Jan. 13.—“Gaunl won his position by pursuing a policy of doing ; no wrong, committing no violence, but I simply enduring all the punishments the other side could inflict on him until they all became weary and ashamed of punishing.” That is how Prof. Gilbert Murray describes Mohanda Kammchand Gandhi, the Indian agitator, whose name Is so frequently mentioned in respect to the native uprisings in India on the occasion of the present visit of the Prince of Wales ' to India. i Gandhi studied law in Great Britain about the year ISS9, but instead of going back to his native land, like many jof his contemporaries who had the advantage of a European education, a confirmed British loyalist he whole-heartedly 1 embraced the Hindu cause and was a constant and virulent agitator for their rights. HIGH CASTE OF HINDU. Gandhi is a Jain, a very high casta of Hindu, and he came from a rich family. He took the usual Jain row, that of an abstinence from alcohol and cow’s flesh, because to the Jains a cow Is a sacred animal; and an abstinence from pork and bacon because the pig Is an unclean animal. lie took his law degree and for a (iiue practised law in Bombay, but be cared more for religion than law. Us became an ascetic and gradually gave | away his money to good causes, keeping for himself only a meagre allowarre. Finally he forsook the lawyer's profession, because he could not conscientiously follow a profession which believed in might to force its rights. In 1914 he was a very patriotic snpporter of Britian's war against Germany, and from its resnlts he expected a better India for Indians, irrespectlva of caste and religion, and the exclusion from their native domains of the material interests, the Industrial slavery and the money power worship of the West. IDEALS MEET

WUTII SHOCK. ! The result was a shock to hig idealg, and ever since lie has been engaged ia constant passive resistance to the govern- [ ment and has always striven to ennoblo and raise the status of the Indian, not* I so much In the eyes of the European, but in the eyes and graces of the higher caste of native in India—a much more difficult problem. Unlike other revolutionarie-, how- , ever, he has always come willingly to the aid of tue government In a crisis. In 1901 there was an outbreak of plague in Johannesburg, and Gandhi opened up n private hospital long before the government had time to act. In 1913, while he was being eon stantly imprisoned by the government ia South Africa, the rcidway strike broke out, and trans-potation in the Transvaal was paralyzed. From the ordinary agitator’s point of view this would have been his supreme moment to strike hie blow at the organized society of South Africa, but he relented and gave orders to his people to resume work and aid ( the government to keep order. This is the complex character of the man who perhaps unwittingly is responsible for Britian’s travail in India. Bitterly hated by many of the rulers ia India, both colored and white, but venerated ns a saint by the vast millions of the native population of all creeds and castes. 5r..000,000 loss by riot. LONDON. Jan. 13.—Apple growers estimate that $5,00t),0i)0 loss has been caused by "apple rot” due to weather conditions.

No Matter Where You May Be Our Financial Secretary PLAN keeps you Fully Informed You need not be tied at home or called home because your financial business matters need attention. Under our Financial Secretary Plan we keep you fully informed whether you are in Florida for the winter or in the Orient.