Indianapolis Times, Volume 34, Number 217, Indianapolis, Marion County, 20 January 1922 — Page 18

18

ZIGZAG TRAIL MAMS COURSE OF STOCK LIST Sensational Advance in Gulf States Steel Due to Outside Buying. SPECIALTIES ADVANCE Special to Indiana Daily Times and Philadelphia Public I.edger. By MONITOR. NEW YORK, Jan. 20.—50 far as the general list was concerned stocks moved with puzzling irregularity. The hand of the professional was evident in quite a number of market moves, although the sensational advance in Gulf States Steel, representing a huge turnover, was In the nature of a frantic outburst of outside buying combined with urgent short covering. So far as the actual news behind this move is concerned, all sorts of stories have been afloat. Gulf States has had a spectacular record, selling up close to S2OO per share in the war boom, whereas its assets are most modestly estimated. Nevertheless, it is believed to be a dangerous stock of which to be short. In the forenoon the features of the market were supplied by advances in the sugars, coppers, steels and specialties. Among these were Associated Dry Goods, Retail Stores, Endicott-Johnson, South Porto Rican Sugar, Nova Scotia Steel and Computing, Tabulating and Recording. There were a few cases of weakness representing the break-up of pool operations which were accompanied by whispered personal recriminations. This was particularly the case with Pierce Uil and Seneca Copper. In the afternoon a reactionary tendency developed as a result of the rise in call money to C per cent. Some of the morn- ; ing favorites slipped back and bonds turned easier, with the Liberty issue lower. Toward the close Gulf States j Steel occupied the center of the stage, i with a sharp spurt up to SO. Sentiment continues bullish in spite of the hardening in the call money rate. — Copyright, 1922, by Tublic Ledger Company. BY MONITOR. When a stock advanced nearly twenty points in one day, a' Gulf States Steel did yesterday, the wildest reports are j in circulation. It inis been evident since .- last Friday that competitive buying was j in progress, and as the price advanced ! rumors of the tribulations of this or that J individual or firm who was reported short of the stock, were rife. Firms which j so long ago as the closing days of Vi- j comber were advocating the purchase of '• the stock, yesterday were advising the j corraling of profits, and in some instances • buying orders were received only where the customer could pay for the certificate in full. One of the most interesting talcs anent the present movement has to do with several names of prominence in the banking world. The gentlemen, the story runs, when the mergers of two independent groups of steel companies first was discussed, realized that Gulf States Ste< 1 would be essential to either or both groups. They foregathered, it is said, at dinner at a prominent club, and the j following morning dispatched nil emissary, to the South where such stock as could be obtained was bought. Having the certifiicates, it was suggested to friends that the stoek i'as an excellent purchase, ; and the buying which resulted started the present move, according to this version. Trior to the war this company earned approximately $5 per share, and its assets are plaeiTd now at approximately S2O per share. American Sugar and Cuban-Amerlean Sugar both have been strong and Wednesday and yesterday made new high prices for the present movement. The buying lias b(-en attributed generally to trade improvement. Investigation indicates that tt "re is something far more substantial upon which the buying is ; based. It is possible that, the visit of ; two well known financiers to Cuba on a “vacation trip” may have had some connection with recent tfuying orders.

Chandler Motors and Studebaker both ■were reactionary under the weight of profit taking sales. There was some scale j support in evidence, and in the former i at least none of the stock which was bought recently supposedly for interests identified with the company has been j sold. After a twelve-point advance with- . out reaction some irregularity was to tie j expected, in the last hour buying or- j ders were received from Chicago. - hich ! represented in part covering of short contracts. Associated Dry Goods, which has been Inactive for some time, came to life vigorously. Opening at 4S, the price advanced to 51% before profit taking sales arrested the advance, it is understood that last year was, with the exception of 1919. j the most prosperous ill the. history of j the company. It is believed that the annual statement, to be made public shortly, will show earnings of approximately SlO per share on the common stock after paving dividends on the preferred issues. The buying was reported ns for the account of important banking interests both here and in the Midis M est Formal announcement was made in the afternoon of the acquisition by the United States Cast Iron Pipe Company of the exclusive right of the De Luvuud patents for the I'niteU States and iis possessions ami Cuba. This process for the manufacture of cast iron pipe is said to be revolutionary in not only greatly reducing the costs of manufacture, but in producing a higher quality product. It is pointed out that with this acquisition hitherto untrie fids are opedu for development. Sharp declines in Pierce Oil and Seneca Copper wore accompanied by ugly rumors. The selling was supposed to lie by a large operator who recently was given market control of the stocks, according to reports, and who became dissatisfied with the arrangement. There was nothing of an unfavorable nature in connection with either property which accounted for the selling. Columbia Gas and Electric has been bought by the trading element in the belief tha[ the dividend rate would be increased at the meeting yesterday. The company reported for December an increase in net earnings after taxes of $88,174 and a surplus after charges of $39,707 greater than (he corresponding month of 1990. For the year net after taxes shows a decrease of $99,859, and a decrease in surplus after charges of $535,542. as compared with tiie previous year. The directors declared the regular quarterly dividend of $1.25 per share. Selling by traders was responsible for the decline in the late afternoon. What is probably the first dividend of its kind was declared by directors of the Virginia Iron, Coal and Coke Company. They authorized the payment of a 50 per cent dividend in 5 per cent cumulative preferred stock, this preferred being the only stock of that class which has been issued by the company. After early strength and activity, the quotation declined on the announcement. The oil stocks were affected adversely by a reduction of 25 cents per barrel in tiie price of crude oil in the Orange field of Texas. Gasoline prices are reported as approaching demoralization in the Northwest, ami the effect of this lias been felt as far East as st. Paul, where the Standard Oil Company has reduced prices to meet the competition. There has been evidence of pool distribution in recent speculative favorites in this group. Call money opened and renewed at 4% per cent and advanced steadily thereafter until just before the close when (i per cent was paid for overnight accommodations. Out-of-town banks again withdrew funds ami there was considerable calling of loans by local institutions. —Copyright. 1922 by Public Ledger Company. WHOLESALE ItpEF PRICES. The following are today's wholesale prices or beef cuts as sold on the Indianapolis markets of Swift & Cos. Itihs—No. , 22c; No. 3, ESe. Loins—No. 2, 2lio; No. 3. 2lc. Rounds—No. 1,14 c; No. 2,12 c. Chucks—No. 2,9 c; No. 3, S%c. nates— No. 2,8 c; No. 3, 7 Vie.

N. Y. Stock Exchange

(By Thomson & McKinnon.) —Jan. 20 — Prev. High. Low. Close, close. Allied Chem.... 55% 58% 08% SSJ6 i Ajax Rubber .. 14 13% 14 14 Allis-Chalmers.. 44% 42% 44% 42% !A. Agricultural 32% 31% 32% 31 Am. Beet Sugar 30% 33% 30 34% A. Boseh M. Cos. 38% 37% 38 38 Am. Car A Fd.. 140 140 140 340% Am. Can 34% 34 34% 34 Am. 11. & L. c 14% 13% —,l 1% 34 Am. H. Si L. pfd 63% 01% 03 61% Am. Ice 85 84 84 54% Am. In. Corp.. 41% 40% 41% 40% Am. Linseed .. 32% 31% 31% 31% Am. Loco 100% 105 100% 105% Am. .Smelt. &R. 47% 47 47 47% Ain. Sugar Ref. 08% 03 67% 03 Am. S. Tob. Cos. 3-1% 33% 34% 33 ft Am. Steel Fd.. 33% 31% 33% 32% Am. Tel. & Te1..117% 117% 117% 117% Am. Tob 131% 131% 131% 133% Am. Woolen ... 83% 82% 83% 82% Am. Zinc & Lead 14% 13% 14% 14% Ananeonda M. C. 50 49% 49% 49% Atchison 97% 97% 97% 97% Atl. Gulf &W I 30% 29% 30 29% Baldwin Lo. ... 98% 90% 97% 97% 11. &O. ........ 3-j 344-. 3*> 34% Beth. Steel (B). 01% 59% 01 58% California Pete 48% 47% 47% 47% Can. Pac. 8y...125% 124% 124% 125 Central Leath. . 33% 31% 32% 32% Chandler Mot... 02% 58% 01 59% C. &O. ........ 50 % 50 50 57 C. M. &St P . 19% 19 19% 19% CM&St P pfd 32% 31% 32% 31% Chi. & North.... 04% 04% 04% 64% C. R. i. & Pac. 32% 31% 32% 31% CRI & P 7pct p ,87 86% 80% ,s7 Chili Copper .. 17% 17% 17% 17% Comp. A Tub. .70 07 % 70 6S Chino Copper... 28% 28% 28% 28% Coca Cola 44 43% 43% 43% Col. F. & Iron. 29% 28% 28% 27%, Colum. Gas OS's 67% 08% 07% Cohan. Graph... 1% 1% 1% 1% Consol. Gas 94% 93% 95% 93% Cont. Can 50% 49% 50% .... Cosden Oil 35% :;:i% :;.->% 33% Corn Prods 99% 98% 98% 98% Crucible Steel... 05 59 % 02% 59% Cub. Am. Sugar 21 17’. 19% 16% Cub. C. Sugar... 9% 9 ‘ 9% 9 Del. & Hudson .109105% 10s% 109% Del. & Lack ...114% 113% 114% 113% Erie 9% 8% 8% 9% Endicott 81% 80 80% 80% Fain. Plays.... 82% 81% 81% $2% Fisk Rub. C 0... 12% 12% 12% 12% Gen. Asphalt 60% 5s 00% 58% Gen. Electric ..111 112% 113%. 142 Gen. Motors .... 9 8% >■% 9 Goodrich 38% 57% 38 37% Gt. North pfd. . 73% 73% 73'% 73% Gulf States S. . 90% 70% 71% 82 Houston Oil .. 70% 73% 70 75% Haskell Bar. ... 83% S3 85% 83 Illinois Central 1"2 In. Copper .... 39% 39% 39% 39% Invincible Oil .. 15% 15 15% 15% Itidiahoma .... 5% 5% '5% 5% Inter. Harr. 85% 84 85’5 84 Inter. Nickel .. 12% 12% 12% 12% Inter, t’aper ... 50% 4s 50% 47% Island O. &T. . 2% 2% 2% 2% Kansas City S.. 23% 22% 22% 23% Kelly S. Tire . 35% 57% 57% 57% Ken a. Copper . 2.8 '.j 28 28% 27% Lack. Steel .... 50 " 47% 4'% 47% Lehigh Valley . 59% 59 „ 59% 59% Lee Tire 28% 28% 2>% 28% I.oews Inc 13% 15 15 13% Lima Colo 114 Itl 111 90% L. & N 114 114 111 114 May Stores 10'% 311714 10*% 108%, Marine com .... li 5 13% 't 14 Marine pfd 00 65 % 05% 65% Max. Mot. (B) 15 14’a 14% .... Mont.-Ward .... 14% 14% 11% 14 . Mex. Pete 115% 312 113% 312% Miami Copper... 27% 27% 27% 27 ; , Mid. S. Oil 12% 12% 12% 12% -Mid. Steel f. 32% 31 5*2 50% Mo. Pacific .... 17 17 37 16% Mo. Pac. pfd 15% 45% 45% 46 Nat. E. & Stamp 57 55% 50 30% Nat. Load .... 91 !>% 9! :<:% N. V. Central... 74% 74% 74% 74% New Haven 10 35% 15% 15% Norf. £e West.. 9.'-% 98% os% 99 Northern Pacific 77% 70% 77 77 Pacific Oil 47% 45% 47 45%. Pure Oil 35% 35 5,5% 55% I’an-Am. Petrol. 53% 52 52 51 % Penna. Ry 54% 84% 14% 34 ! People's Gas... 70 t',9 69% 09% ' Pierce-Arrow .. 17% 10 10'] 10% ! pierce Oil 10% 9 9%‘ 9% ! Pittsburgh Coal 01 01 01 01 Prsd. Steel Car. 06 00 60 04 I'ulmn. C’al Car. 112% 112 112% 111% i Rv. Steel Spgs. 98 07 Sts ps l!ay Copper.... 14% 14% 14% 15 Reading 74 73% 75% 74% j Rep. Ira. Sc St 1. 56% 54% 56% 53% ! Replogle Steel.. 41 52; 35% 50% • Kyi. Hob. N. V. 51% 56% 51% 50%: Sears-Roebuck.. 64% 05 04 " 02% Sinclair 20% 26% 2"% 2" % Sloss-Sheffield . -ft I! 41 49%. Southern Pac. . '2% si % 81% '! . Sotuthern 1iy.... 1% 17% 17% I'% Stand. Oil. Gal.. 90% 95% 90% 91%. Stand. Oil. X. J. 181 % 17' I'l * 179 ST LAS F. Com. 22 2t% 21% 1 Stromherg Carlo 41 % 41% 49 Studebak, r .... 90% .'7% .''.% .s' Texas ( 'uul 20% “1% 25% 24% Texas Cos 40 44% 45% 45% Texas Gas 41% 41% 41% 41 % Tob. Prod 05 01’.. 05 0-7 Trans. Oil 10% 9% 9% 10 Enion Oil 419% 19% 19% 19% Enlon Pacific . 129% 129% 129% 129% I'ni. Ret. Stores 50% 55% 55 550_ E, S. Food '% 7% 7% '% Eni. Fruit Cos. 127 125 120' 121% E. S. In. A. ... 45% 42% 45% 45 % E. S. Rubber ... 50% 5i% 55% 54% E. S. Steel ..... 88 M% '7 M% C. S. Steel pfd. .117% 117 , 317% 117 % I tah Copper ... 04 05% 64 05 Van. Steel 37% 34% 5,5% 53’j \ ir. Car. Chem.. 29% 2'% 29% .... Wabash 0% 0% 0% 0% Wabash Ist pfd. 20% 19% 2" 20% White Oil 9% 9% 9% it Western Enion. 92 92 92 91 1 5 West. Elec 51 % 51 51% 50% White Motors .. 39 59 59 38% Willys Overland 5% 5% 5% 5'4 Wilson A Cos. . 31% 31% 31% 32 Worth. Pump .. 48% 40 48 40% Woolworth ....148 114 148 .... West. Pac 10',i 10% 30% NEW YORK I.IBERTY BONDS. —Jan. 26 l‘rev. High. I,ow. Close. Close. L. n. n’.’.s 97.10 90.94 97.08 97.30 L. B. Ist 4s 97.56 L. B. 2nd 4s 97.20 .... 1,. 35 Ist 4%s 97.90 97.52 97.90 97.80 L. B 2nd 4%>-. 97.4 ' 97.20 97.31 97.40 1,. B. 3rd 4%5... 97.92 97.>2 tiT !"• 97.90 L. B. 4th 4’,is.. 97.06 97.58 97 12 97.01 Victory 5.%s 106.18 160.12 KHkls 100.11 Victory 4%s KIO.IS 100,14 100.18 PBt.ll

CHICAGO STOCKS. (By Thomson & McKinnon.) —Jan. 20— Open. High. Low. Close. Arnir ACo pfd. 92 0 94 92 :: , 93 CC& CRy pfd fi'.i Cv.l, 6% Chi Kiev Ry pfd l-'O Cudahy 55', Com. Edison 114% ..... Continental Mot and- - Motors.... M's 3Vi 3 1 s "Vi Libby-McNeill... 5% 0 3% 6 Montgy.-Ward.. 14'i 14',i 11 11 Natl Leather... -"i Do new 11 Pick &Cos 21 Vi 25 24 21 Pig. Wig. “A” Ml 34Vi 91 94 Quaker Oats 95% • Stewart-Warner 2fi : 'i 27 U 20 ■ s 27 Swift &Cos 109 Vs 100 V- 100 100% •Swift Internatl 217 s 21% 21% 21'4 Thomsn. (.1. Il l 42Vi T’nion Car & Car 4040 40 I '. Wahl 02"i f.2% 59>i d"G Wrigiey 102 102 101 101 Yellow Taxi.... ss' j •Ex-dividend $1 20. NEW YORK METAL MIRKKT. NEW YORK. .Tall. 20.—Copper—Dull; spot. January. February and March, offered 13c. Lead—Quiet; spot, January and February, 4.700 l.soc. SpelterWeak; spot, January and February, 4.G2%'@4.72%c. NEW YORK HIDES. NEW YORK, Jan. 2d.—Hides were firm in trade on the market here today, native steer hides selling at 10c and branded steer hides at 15’ \v per pound. NEW YORK WOOL. NEW YORK, Jan. 20.—W00l values were firm on the market here today. There have been no material changes in prices for the past two weeks. NEW YORK PETROLEUM. NEW YORK. .Tan. 20.—Petroleum prices again ruled steady in trade on the market iiere today. Pennsylvania crude was quoted at $3.25 per barrel. NEW YORK TERPENTINE. NEW YORK, Jan. 20.—Turpentine sold at 90c pier gallon in trade on the market here today. NEW YORK RICE. NEW YORK, Jan. 20.—Rice was in fuir demand and prices were steady in trade on the exchange today. Domestic rice was quoted at 3V4@7%c per pound.

U. S. STEEL LATE STOCK FEATURE Gulf States Steel Reacts in Final Hour of Trade. NEW YORK. Jan. 20.—The stock market closed strong. The feature of the final trading was the large demand for United States Steel common, which rose to anew high for the last two years of 88. At the close the stock reacted to 87. Gulf States Steel continued in supply, closing at 71, a net loss of 11 points. Seneca Copper fell back 1 point to 17%. Chandler was strong, selling up to a new high for the year of 62%, followed by a reaction of 1 point. American Sugar closed over 4 points higher at 07%. Computing and Tabluating rose 2 points to 70. ' Woolworth gained 7% points to 148, Trading in this stock was on a large scale, sales going over the million mark. Government bonds were unchanged and railway and other bonds strong. Total sales stocks for the day were 1,155,500 shares; bonds, 13,574,000. (By Thomson & McKinon) —Jan. 20— All interested in the stock market can : certainly find no fault with the present degree of activity. It has been a long time since we have had such buoyancy and it would be necessary to go back many months in the market's history to find ‘fluctuations to equal those that we have had in the market recently. The topic of most interest at the present time is the prospect of numerous mergers. This subject is one to which we have directed your attention in these letters for several months and as conditions are favorable it is more than likely that something tangible will finally result. though at this time nothing of a definite nature has reached the public. It is still largely a matter of guesswork as to what particular companies and in what particular groups are being considered in this respect. Notwithstanding the uncertainty as to this, there is a eonstantly increasing public confidence in security values and an increasing public interest which is really surprising when you consider the fact that business itself still lags, and many complaints are still heard from various industrial and from various sections of the country. All who have followed the suggestions offered in these letters from day to day must of necessity have profits in their lines of long stocks and it would not be at all out of place now and. for that matter. one very strong market, to accept profits on at least n portion of such holdings. It is only by such action that traders can best take advantage of the opportunities during the reactionary periods. TWENTY STOCKS AVERAGE. NEW YORK, Jan. 20.- Twenty industrial stocks Thursday averaged 81.91, off .42 per cent. Twenty active rails averaged 70.10, off .40 per cent. CLEARING HOUSE STATEMENT. NEW YORK. Jan. 26—Federal Re serve Band credits. ?ft 100.600; exchanges, $044,009,000; balances, $09,200,000. Money and Exchange Indianapolis bank clearings Friday were >2,151,600. Bank debits wore sl, 012,000. NEW YORK, Jan. 20.—The foreign exchange market was lower at the opening [■"iay. demand sterling falling lo to $4 21. Francs were 0 points lower to 8 13c for cables and 10 S 12c for checks. Eire cables were 4.30 c; cheeks. 4 35%e. Belgian franc cables were 7.80 e; cheeks, 7.79 .r. Marks Were .0050%'’; guilder cables were 55.59 c; cheeks, 30.54 c. NEW YORK (ALL MONEY. NEW YORK, Jan. 20.—Mem y— Call 1 money ruled 5 per cent; high, 5 per cent; low. 5 per cent. Time rales curt, ah 4%f'i:4% pt r cent. Time mercantile paper quiet Sterling exchange was easy, with business in bankers' bills at $1 21 for demand.

MOTOR NE< I 111 TIES. (By Thomson A McKinnon.) —Jan. 20. —Closing— Bid Ask Earl Motors M ;p, P i fcur.l , ■.: 1 f,l. 7 , Packard pfd fit; i.s Pt • rh ss 3S 391. j i 'out inental Motors com 5% <> I ontinental Motors pfd s;t 87 II upp com It'. 11’;. Hupp pfd 90 T R*'o Motor <ar .. Iki Ist Elg;n Motors 1 2' . Grant Motors 1 Ford of Canada 200 205 \a' iotial Motors . 1’ i 2(. F' deral Truck ~1 !’■> 17 Pa*go Motors 1.". n Republic Truck 7% b', 4 ACTIVE OIL STOCKS. (By Thomson A McKinnon.) —Jan. 20— —Opening. Bid. Ask. Atlantic I.olms .. s% <a Boriif Scrymser M2'i 310 Bin kt',ve Pipe Line pit 92 Chcscbrough Mfg. Cons 17') 190 Continental Oil, Colorado.. .127 133 Cosdcn Oil and Gas 5 0 Crescent Pipe Line 29 31 Cumberland Pipe Line ]gu 135 Elk Basin Pete t;% Eureka Pipe Line so Galena-Signal "it, pfd lop lu.s Gab na-Signal Oil, tom 40 42 Illinois Pipe Line ~.101 170 Indiana Pipe Line .sfi 99 Merritt "ii 9% <lx4 Midwest Oil 2% 3% Midwest ltfg 179 * ISO National Transit 27 29 New York Transit 122 123 Northern Pipe Line 92 90 Ohio Oil 200 205 Oklahoma P. A R 5% fiVJ l‘< lin.-Mex It; 14 Prairie oil and Gas 53U 500 Prairie Pipe Line 232 230 Sapttipa Itefg ;; 31,' Solar Refining 270 290 Southern Pipe Line 81 N4 South I’enn. Oil iso mo Southwest Penn. Pipe Lines.. 02 00 Standard Oil Cos. of Did MiG. Kt;a’ Standard Oil Cos. of Kau....50(1* 580 Standard Oil Cos. of Ky 440 400 Standard Oil Cos. of Neb.... 170 ISO Standard Oil Cos. of N. V.... 350 MOO Standard Oil Cos. of 0hi0... ,559 400 Swan A Finch M 0 40 Vacuum Oil 320 325 Washington Oil 30 40 NEW YORK OKU. (By Thomson A McKinnon.) Jau. 20— —Closing - Bid. Ask. Acme Packing 45 50 Curtis Aero com 3 4 Curtis Aero pfd IS 23 Goldfield 1 'on 4 f Jumbo Extension 3 7 Imperial Oil (Del.) 9% U% Intermit. Pete 14% 15 Nipissing C/i 9% Stand Motors 3% 4 salt Creek IMA, 14 Tnnnpah Extension 1 7-10 1% Toiiupali Mining 17-10 IVi I tilted P S new 1% 2 ['. S. Eight & lleat 90 95 E. S. Eight A Heat pfd.... 1 Hi Wright-Martin 2 5 Yukon Gold Mine Cos 1 1-10 Hi Jerome 20 32 New Cornelia .18 18% Enited Verde 29 29% Sequoyah 3 0 tiinar Oil 78 St Rep. Tire 10 25 NEW YORK SI GARS. NEW YORK, Jan. 20. — Raw sugar values were firm in trade on the market here today. Cttbns selling at M.73c per pounb, duty paid, and Porto Ricos at 3.54 c per pound, delivered. Refined sugars were steady, both line granulated anti No. 1 soft being quoted at 4.80@ 4.90 c per pound. NEW YORK COFFEE. NEW YORK. Jan. 20.—Coffee values were steady on the exchange today, opening options being 5 to fi points higliur. Rio No. 7 oil spot sold at 9f(i9%e per pound. TOLEDO SEED PRICES. TOLEDO, Jan. 20. —Cloverseed—Cash, $13.95; January, 513.9"; February, sl4; March, $13.95; April. $13.05. Alsike—Cash, $11.70: ’February, $11.75; March, $11.90. Timothy—Cash. $3.25; January, $3.25; February, $3,50; March, $3.35.

INDIANA DAILY TIMES, THURSDAY, JANUARY 19, 1922.

New York Bonds

(By Fletcher American Company.) —J an, 20— FOREIGN GOVERNMENT BONDS. Arg. (unlisted) ss, Sept. 1, '45. 72% 73% Arg. 7s, Oct., ’23 98 98% Belgian 6s, Jan. 1, *25 95% 95% Belgian 7%5, June 1, ’45 106% 107% Belgian Bs, hT. 1, ’4l 106% 107 Berne Bs, Nov. 1, ’45 100 108 Brazil Bs, June 1, ’4l 194% 104% Chile Bs, Oct. 1, ’26 100% 100'ji Chile Bs, Feb. 1, ’4l 101% 102 Chile Bs, Nov. 1, '4O 101 101% Christiania Bs, Oct. 1, ’45—106 107 Copenhagen 5%5, July 1. '44.. 88% 89 Danish Mun Bs, Feb. 1, ’46.... 106% 107 Denmark Bs, Oct. 15, ’45 107% 108% ♦Canadian 5%5, l)ec. 1, ’22.... 94% 95% •Canadian s Vis, Nov. 1, ’23.. 93% 94% •Canadian 5%5, Nov. 1, ’24... 93% 95 •Canadian ss, Dec. 1, ’25 92% 93 % Canadian ss, April 1. ’26 97% 97% Canadian 5%5, Dec. 1, ’27.... 95 96% Canadian 5%5, Aug. 1, ’29 98% 98% Canadian ss, April 1, ’3l 97_ 97% •Canadian ss, Oct. 1, '3l 91% 93% Canadian 5%5, Nov. 1, '33... 96% 97% •Canadian 5%5, No. 1, '34.... 93% 94% Canadian ss, March 1, '37 95% 96% •Canadian s',is, Dec. 1, ’37.... 98% 99% •French (Vic.) ss, Opt., ’31... 63% 65 •French 4s. Opt., '43 49% 51 French 7'%*, June, *4l 95% 95% French Bs, Sept. 15, ’45 100% 101 •Italian (War) 5s : . 33% 34 Jap (Ist) 4%5, Feb. 15, ’25. 87 % 87% Jap (2d) 4%5, July 10. ’25. 86 87 Norway Bs, Oct. 1, ’4O 109 HO Queensland 7s, Oct. 1, ’4l 106% 106% Rio do Janeiro Bs, Oct., ’46... 101 101 % Sao i’aulo Bs, Jan. 1, ’36.... 101'% 102% Swedish os, June 15, ’39 95% 90 Swiss 5%8. Aug. 1, ’29 90% 97% Swiss Bs, July 1, ’4O 113 11> l . K. 5%5, Nov. 1, ’22 100% 100% U. K. 5%5, Aug, 1, ’29 100 160% tJ. K. 5%5, Fet. 1, ’37 98 98% Uruguay Bs, Aug. 1, '4O 104% 10.>% Zurich Bs, Oct. 15, ’45 107 108 Bergen 8s 105% 106% •Internal loans. CORPORATION BONDS. Bid. Ask, Allied I’aekcrs Os 09% <>9% Alum. Cos. of Am. 7s. Nov. ’25.101-;,s 102 Am. Cotton Oil Os, Sept. 2, ’24 91% 94% Amer. Tel os, Oct. '22 100% 100% Amor. Tel. Os, Feb. ’2l 101 101% Amer. Tel. .V Tel. os. ’25.... 110% llo.j Amer. Thread os, Dec. ’2B 100% lot Amer. Tob. 7s, Nov. '22. ...101% 101;t Amer. Tob. 7s, Nov. '23 I<>2 s R’2 % Anaconda Os, Jan. '29 98% 98% Anaconda 7s, Jan. '29 lot % tol a Anglo-Aui. Oil 7%5, Apr. '25.103% 164 Armour 7s. July 15, '3O 102103 Atchison Gen. 4s K '% 8> i Atlantic Ref. o%s, Mch., ’31...10t 104% Bell Tel. of Can. 7s, Apr. ’25.166%, 101% Bell of l’a. 7s 108% 109% Beth. Steel “s, July 15, '23...100's DD% Big Four 0s 90% 9>% Can. Nor. o%s 100% 110% Can. Nor. 7s 105% 105% C. B. Q. Gen. 4s 88% 88% C. B. Q. -111. 3%8 81 M % C. B. Q.—Nel). 4s 93% 90% C. li. Q. —Jt. 6%8 100% 107% Can. I‘acllie 6k, Mch. 2, '24 ...161 l"i 1 Cent. Arg. By. os. Feb. '27... 90% 91 Chic. & N. W. o%s 1"7 100% Chic. Sc N. W. 7s 100% Jj'7 Col. Graph 8a 33% 3t% Con. Gas 7s. Dec. '22 1"! % I<*l% Copper Exp. Bs, Feb. 15, '22. 99's 100 4 Copper Exp. Bs. Feb. 15, '2-i..101% 1"- a Copper Exp. Bs, Feb. 15, '2 4 102% I"2' Copper Exp. Bs, Feb. 15, ’2s.l'd I°*% Cuban Am. Sugar 's 102% 1"3% t.'udahv 7s, July 15, 23 100% 161 Du l’ont 7%s U's% 164’* Fed. Sugar os, Nov. '2l 98% 9'.' Fisk Tire B's lot* l| r 2% Goodrich 7s. Apr. ’25 97 * 98 Goodyear Ist ss, 'll 1"2% 1"3 Goodyear Deb. Ss, *3l 9'% ’■ Great Nortberu 7s I"'' 168'. Grand Trunk 0s 1"2% I'2 s Grand Trunk o%s 97% 98 Grand Trunk 7s HO HI Gulf "il os, July '23 99% 16" * Gulf oil 7s, I eb. '33 l<-i % 1‘ ' ■ 4 iii iaz 7s. Dec '5 > 103 a 1"* - II" king Val. Oh Mch. '2l 98 9* '•* Humble Oil 7s. Mch. 15, ’23... I'*' j D’' 4 111. Cent. Ref. Is, '55 •' l % B’% Inter. Met. 4%s D>% 11% inti rboro 5s 60% ''" A lot. U. T. S3 Sept. "22 7' * "• K. C. Term t's, Nov. 15, '25... 1 o Kelly-Springfield 8s 91% I l ' l 1 Kenn. Cojjper 7s, Feb. ’30..1"3 10..'., 1, A. N. 7s, '3O 1 11 7 --* 1"8% Laclede Gas 7s, Jan. '29 90% In Libby Me Neil 7s, May, '31.... 99 * Mex.* l’et. 8s 106% T’l Minn., St. B. A S. S. M. (i%5.101% 9-2 Morris 7 1 as-. ■ 103 I"}% Nat l Leather 's. Nov. 35, '-'5 90 9*.% \ Y. Central 7s. ’3O 9io\ 100% N. 5. Edison 5%5, '4l 100% 9s; * V I 4 .1. Ref. os. '4l 9'3 103% N. r Bar. B. L. 4s . . '"4 8 ,; % Nor. l’ao. L. 3s 6>% 61 1 N. r Due 0s 10.5% 100% Nor.hweatern Bell 7s I<'B% l" v 1 Ban. Amer. Bet. Is 97% 98’* IVnn. 6%s t 1 se * n >l v , Penn. 7s 97% 97% Phillipine 5 1 .s ’4l 9'4 l' 1 " Proctor A G 7s. Mch, ’22..,.95) 1*• ’ '.s Procter A G. 7s, Mob. ’23 911 j 162 K J. Reynolds os, Aug. ’22. 100 * I'd’. Scars Roebifk 7s, O' t. 15 ’22.10:i_ 10 * 4 Sears Roebuck 7s, Uct. 15, '23 98‘s '■ '■* i Seaboard Con. 6s 45% 41% Sinclair 7’-: s . May 15, 2a....1'5i * 1 i Snivay A C*ie Bs. li t. ’27 102 j 1"4 Southern By. os, M h. "22... 99 * 1""' 8. w. Bi 11 Tel. 7s. Apr. ’25.. .102 102 ■, Stand. Oil (Cal.) 7s. Jan. 5.1 1"7 10. s S. tid (N Y 1 7s. Jan. '25-'3l 9)5 11" -j S. oil IN. 7.1 OVi s. May, ’25.9.8% ]<..s s, St. 1.. San Frail. I’ L. 45.... 6.'% a Sr L. San Fran. Adj. 6s .. 7.4% 73% <t p U 16 s'-., Doc. 15, '23.t(* 1"0% Stel A Tube 7s* 98% 99% Swift Ts Dot. 15, '2-5 9d % IO! % Swift 7-. Aug 15. '3l 912% 102% Texas Cos. 7s. Mch. 1, ’23...9HU K'l% Tidewater <MI o%s 1U2% 102 % 1 ulon Tank Car 7s 162') 9)3 r s. Rubber 7'%s 105% 1m; l tail Sec. •%._ Sept. 15, ’22... 97% #Bl2, Vacuum Dil 7s 9)7 3"7 , Va. Cur Chem. 7%s 94% 95% Western El. 7h. Apr. '25 -H* 105',. West'n Union o%s 107 D'H* Westinghouse 7s, May, ’31...10t>% Uni's Wilson 7%s 90 90'j Winchester 7%s 99'i 9‘.f%

In the Cotton Market

NEW YORK, Jan. 20. Trading in cotton was quieter at the opening of the market here today. Initial prices were unchanged to 3 points up. About the only <arly feature was selling by spot, concerns and Southern wire houses. At the end of the first fifteen minutes quotations were about 5 points above early levels, mostly "ii bull support due to a sharp rally at Liverpool. New York opening cotton prices: January, 17.70 c I>i 11 ; March, 17.80 c; May, 17.42 c; July. 10.97 c; October, 10.30 c; Decern In r. Ki.liV'X 10.20 c. The market was irregular In the late dealings, closing barely steady at a net advance of 3 points to a uct decline of 7 points. —Colton Futures Open High Low Close Jan 17.75 17 90 17.70 17.78 March 17.80 17.94 17.08 17.77 May 17.42 17.57 17.31 17.37 July 10.97 17.07 10.84 10.92 tit 10.38 10.45 10.20 10.2n Dec 10.18 10.30 16.18 10.10 —Cotton Review— NEW YORK, Jan. 20.—We have had allot her small market in cotton, fluctuations tcing tiie narrowest in some time and the volume of business light. The estimate of spinners' takings ns published by the seeretary of tlie Now Orleans Cotton Exchange confirms the reports which we have had recently of a poor spot demand nnd brought in a moderate amount of liquidation. The figures show takings smaller than in some time. There will have to be an improvement in this respect before we can look for ward to increased activity in the contract market. At the present time there is no reason for any important move in either direction and would coniine to treat the market as a scalping affair. LIVERPOOL Jan. 20.—Spot, cotton opened in limited demand today with prices barely steady and sales around 5,000 bales. American middlings, fair. 12.48d; good middlings. 10.93d ; full middlings, 10.53d ; middlings, lO.lSd : low middlings. '.l.OSd; good ordinary, 7.75d; ordinary, 7.03d. Futures opened steady. DAY 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. 03ts—Bushel, new, per bushel, 321235 c. Corn—Old, per bushel, 54@60c.

SWINE PRICES SHOW ADVANCES Cattle Trade Is Very Dull— Calves Weaken at Close. RANGE OF HOG PRICES. Good Good Good Man. Mixed. Heavy. 12. $8.50® B.V> sß.oo@ 8.25 $8.75® 9.00 13. B.oo® 8.25 7.75® 8.00 8.25® 8.50 14. 7.75® 8.00 7.50® 7.75 B.oo® 8.40 16. 7.80® 8.25 7.75® 8.00 8.25® 8.50 17. 7.00® 8.25 7.80® 8.00 8.35® 8-05 18. 8.35® 8.65 B.oo® 8.35 8.65® 9.00 19. B.oo® 8.25 7.75® 8.15 8.25® 8.50 20. 8.25® 5.50 7.85® 8.00 S.so® 9.00 Swine prices xvere irregular in trade on the local live stock exchange today. Heavy swine values were steady to strong, mixed and mediums 25c higher and lights 25 to 40c higher. Receipts were light at 6,500 and the demand came chiefly from shippers with eastern house connections, who bought the lighter grades. Local packers bid steady, getting aonly a few heavy swine. Shippers showed but small demand for heavy swine. Trade in cattle was rather dull whh receipts light at 300 and the quality of stuff offered generally only common to medium. Bulls were about steady with the demand good. Veal prices were fully steady at the opening of the market, but before the close weak spots had appeared. There were close to 500 calves on sale and the demand by shippers was good. Both sheep and lambs were steady with receipts light 150, the quality fair and the demand good. HOGS. Best light hogs, 150 to ISO lbs. average SS.SO@ 9.00 Over 300 His 7.-S5 150 to 300 lbs. S.UOid) 9.00 Sows 6.0051; 7 00 Stags 5.5051. 6.50 Best pigs, under 116 lbs N.75% 9.00 Bulk of sales S-25 <0, $.75 Tops $-60 —Cattle — Prime corn fed steers, 1,300 to 1,800 Ills 6 50%, 7.50 Good to choice steers, 1,200 to 1,300 lbs 5.25(9: 0.25 Good to choice steers, 1,100 to 1.266 llis 4.50@ 5.00 Good to choice steers, 1,000 to 1.100 llis 4.257? 4.50 Common to medium steers, $8 to 1,000 lbs 4.000 4.2i —Cows and Heifers — Good to choice heifers 6.000 7.25 Medium heifers 4.060 5.75 Common t" medium heifers., 3 i 4.00 Good to eholce cows 3.000 175 Fair to medium cows 1 OOfri. 2.50 Cutters 1.2571 2.56 Gunners 750 1.56 —Bulls— Good to choice butcher bulls 3.56 ft 450 Bologna bulls 3.66'k 350 Light bolo/r.a bulls 2.50'i: - 7.4 Light to common Dulls 2.000 2.50 —Calves— Choice veals 13 00014.00 1 veals 12.0671 13.00 Medium veals lo.’-’o'o I 1.5" Lightweight xe.ils > u o 9." U Common to heavyweight veals 7.660 $.09 —Stockers and Feeders—. Good to choice steers under 866 lbs 4.500 4 75 Medium c .vs 2.00 H 350 11 mh 1 cows 3 ■ " 4.2 * Good heifers 5-66 1 6.50 Medium to good li if' rs S.oo .< 4.75 Milkers 4.7.60 075.00 Bhl-0p unit lambs Ewes 1 00 (ii 4 50 Bucks 2,50.1 3.56 (gied to choice lambs 10,IH"<; 13.(H1 Sec. mi., 8.000 10.00 Buck lambs 6 ' > ■ • 1 Culls 4.1810 5.00

Other Livestock

(’HICAGO, .1-1. 2.) lt"-s Re. eiplc. toot; market, lalrlv a.G.e and M. adx to 16 cents high, r, b ilk id $7.95 '.25; top. 88.60; 1.. avies, >7.' g to- diiini: . >7.65"!'.:.0 : lights, >'2 .o ' 'a; tight lights, $' 35 7 j s.ui; heavy | king sows, smooth, $0.75-( 7. .6 ; pa kii.g e a , ’•.•ugh. su.sll'o 6.96 pigs, >2. •;'.e„i, i ;;l, i; eeipt , H otH). in get Reef steer.,- Choice aid plain", 7. ■ 9.75; medium and g ...I, 51 '' : s5; 1 and choiee, ?7.V.-o '.'.75; , air and Indium. $5 75717,'.., Bul.'.er .alt: lb .9-rs, S3 850 7.7 -. . iWS, $;; fie , i. > 575; vent .-alves, >7 .6 t 16.2.5; 15- ier Steers, $5.75 ■/6.96; Mink.!' ■ 1.-. >ls" : 6.75; stoek-r e-.ws atol led is, • 5 2->. Sheep and iaitil-'- 19' eipts, '.oa-o. market, 15 to 25 e.-nts high.-- ; - ■ "i < ; lambs, sll 75 Id 27 ; ■ .11 and . 'a i lambs, $9,257! 11 .HI; v. ir’i v, . $9 him 12 ; cv . s■'... 7 75 . .'all n-i I . ■ mon ewes, $2.7-. i 4.75; ; . ler la.iic.'., $1" 2 . M 12.50. CINCINNATI. Jan. 20 11 Receipts. 4.0OO; market, 25 to .Vie higher; heavies. sl.7s>ts 56; mix .1, $ -.■ -5 ; me unis. S' 7s; lights S!:d Jt' ■ $9; emails, Sn.l'soo 7,0 ; Stags. $ 1.25 M 1.56. Ca'iie Re.-eip: s, mm) ; market, slow s-ady; l.oils, iv. ak ; calves. sl3. Sii-ep and Lambs K ifits, 306; mnrk.~:.-a.ly; owes. f I 56; - ci lam I s. >1 . -is, $;.; culls, ssru 6. I LEVEL \Nl>. Jan. 2" -19 -a Re ceipts. 2..VH1; mallei, 15 Ii .5 •■elifhigher ; yorkers, $9.2-5 ; i '.77> а, li*un , ss.i •. p ->; ; -. s- . stags, sl. l 'atll' *•;;.] . sou ; ,: lea , slow. Sheep and lamb Roi.cipts, 1 5,h); market, a.dive, top, .|3 7hi. i ..Iv.-- Receipts, 366; market, a.diva ; top, sl3. i'.A.-T BUFFALO, ..an. 2>) li. .- R • ceipts, 5,660; market. aetive; .'(.rivers. $9 25 .;9..50 ; pigs, >9.5009 75; lulxetl. $5.75 0-9.27.; heavies, Ss.so ~ 8.75 ; oligtis. 56 u б. stags, $:: .500.4..56. Cattle -Receipts. 160; market, Blow; shipping sle -rs. $7 2.. t 5.25; butcher gra.bs, s,(a.': lmifers. ' 7*,56; cows, $2,257, s,'e ; build, $" 5 ■' feeders, $.57t6; Ini Ik cows a 1 spi $2,5 •( %5. Calves It. eij, i. I : . I active J)i'll steady; cull to choice, s•'• 14.75; few. >ls. ShceJ. and lamb lie , idj.ls > out); ma ri.et, aetive : ek<d. .• I ami. $l3O i'l;’ cull i. lair. ." ,12.50; yearlings, $-fd 12.%'; slieep, s'7: 12. EAST ST. LOUIS. Jan 20— Hogs— Receipts, 11.5(81; market f>o U>e higlier: mixed and l.iiteliers, sv</.s :15: g....d heavies. $ Ski's 25 ; r. digit'. 85,757, 6.50 : liglits. $8.37,7/s.ii'l; pigs, >7.75f<i.8 iV); imlk ~f sales. ss.ir,o')(l. Cat tie —Receipts. I olH): market sl.nidy; native be. L Kteera, $7.500 8.2.5; yearling steers and heifers, >7.250 8 f.il: cows. $5,500 5.7-g sto.-kers ami feeders. $17,5.75: calves, s'.o 11. .0; .aiders and cutters, $2.2.50 3 2.>. Sheep and lambs —Receipts. 650; market strong; mutton ewes, $5,757/6: elioi.-e iambs, $9 09.50; rainier* and choppers, $10.4. PITTSBURGH, Jan. 26.—Hogs —Rcceijds, 2.566; market, n adv lo 2'.-.e lngti,r: prime heavies. $52,.7i5.40; mediums, $S.i)O01; heavy xerkers. s>.96''/'J; light y (irkers, $>.967/9; pigs, >9: stags. $.3.567/ 4; lieavv mixetl. $'.660'.75. Cattle Re e/dj.is, ion; market, sternly; chowo, -"'o s .-hi; prime, $77/7.511; I, $6.7.507 : fair. >.-,.567/7.25: common. $47/5 25; nimmoii to good fat bails. $3.507/.5 25; common to good fat cows, $27/5; heifers. $1.2500.75: fresh cows and springers. $557/'ss: v.atl . alves, $13.50; heavy and HT.ii calves, s*','./ S. Sheep and lambs—Receipts, s 0; n irkut, steady; prime xvetl/ers, $7,757(8; good mixed, $77/7.56: fair mix, and. $5 567/ 656: culls a.ad commons, $2.5003.50; choice lambs, $13.75. Local Curb Market (By Newton Todd.) —Jan. 20— Am. Hominy com 14 20 Central and Coast Oil 2 Choate Oil Corp % 1% Columbia Fire Ins. Cos C 7% Comet Auto % 2 Dayton Rubber Units 48 58 Dictograjdi l’ro.l. pfd to 50 I. W. Griffith . 7% 8% Elgin Motor Car 1% 3 Fed Fin. Cos. pfd 77 87 Fed. Fin. Cos. com 122 132 Gt, Sou. I’ro I. .A Ref 5 6 Ind. Rural Credits 50 60 Metro. f>-50c Stores com 6 9 Metrp. 5-50 c Stores pfd 20 27 Nat. Underwriting 3 6 Rauch .A Lang Units 20 30 Rub.-Tex. Units 14% 16% U. 8. Auto. Units 50 CO U. S. Mtg. Cos. Units 150 164 RANK STOCKS. Commercial Nat. Bank 71 81 Cont. Nat. Bank 106 116 Ind. Trusts Cos 175 190 Ind. Nat. Bank 266 276 Mer. Nat. Bank 280 Security Trust Cos 130 State Sav. & Trust 91 9J Union Trust Cos 300 ... Wash. Bank & Trust C 0... 150 ...

GRAIN VALUES CLOSE LOWER Broader Trade in Evidence— Provisions Higher. CHICAGO, Jan. 20.—Grain prices closed lower on the Chicago Board of Trade today. Outside buying was of fair proportions and there was a slightly broader trade in evidence. There was no great pressure to sell. While no serious damage was reported as a result of the cold wave, there has been no reported improvement in a poor outlook Southwest. Provisions were higher. May wheat opened up %c at $1.14% and closed off %e. July wheat opened at $1.02%, up %ec. closed off lc. May corn opened unchanged at 53%e, closing off %c. July corn opened at 55t7c, unchanged, and closed off %c. May oats opened unchanged at 39%0, and closed off %c. July oats opened o '£ %c at 39%c and closed off %c. (By Thomson & McKinnon.) —Jan. 20. Wheat —There has not been the snap and vigor in the demand for wheat today that was exhibited yesterday. Values have dragged more because or a slowing down in the demand rather than from any particular pressure or items of news. English markets were easier under pressure of Argentine offeings. A smalt amount of export business in Manitobus to Sweden has been reported, but, in a general way, foreign trade was inactive. The Southwest is receiving goon snow storms without winds. This has beeu reflected in relative easiness of the July delivery, especially in southwestern markets. Choice milling wheat, particularly in spring wheat markets, is in demand and strong, there are also intimations of some improvement in the flour business. Whether or not the estimates of reserv. s on farms issued yesterday are correct <.r not. the simple fact that the figures, which arc rather startling, have been made public, will go far toward influencing sentiment on the part of the entire trade, millers and flour jobbers included. if. perchance, these figures arc approximately correct, the ultimate result will be considerable difficulty in securing milling wheat for home purposes. The market may be slow to recognize t!ii', loir we think it inadvisable to be dis, duragod by the present more or I-ss neglected condition of market. Corn and Oats—There is export Inquiry for corn in the market all the time hilt i in* volume of business Is being restricted by scarcity of ocean freight room. The domestic demand ts rather unimportant and the country has corn for on every small advance. Under these conditions market may not show any i up,.riant strength, but if It develops that tii. ro is at' nc.:9 position in wheat both corn and oats will be sympathetically affect. ]. I’r vi nes Foreign markets show higher pt ccs for hog products and cash trade i> on a broader scale, but the tn! lire market ti not experiencing much demand. The lino,-none of Iho hog market is strong. We feel that value of prodm-ls will continue to exhibit underlying strength.

CHICAGO GRAIN TABLE. —Jan. 20— WHEAT— Open. High. Low. Close. Mav 1.14% 1.14% 1.13% 1.14% .1 ill v 1.62% 1.02% 1.01% 1.01% CuR.N— May.... .56% .55% .53% .53% J v 55% .55% .55 .55% 11 ATS— May 39% .39% .3s % .38% .1 .' . .■ .39% .30 -3 .39 8j *39% PORK Man 10.50 LARD .1 i .... 912 915 942 945 M iv..., 9.72 9.77 9.67 9.75 RIB. B - Jan .... 8.77 8.97 5..7 8.85 RYE - .. . , lav 85% .8.*% .4)5% •80% Mai.v TS •Nominal. CHICAGO (ASH GRAIN. CHICAGO, Jan. 26.—Wheat—No. 2 1.12)7; No. 3 inixe !. $1 09% : No 2 hard winfi r, $! 13%; No. 3 northern s; r : g. $1.29; No. 2 dark northern spring, sl.; No. dark ni rthern spring, $1.35. C .rn --No. 2 mixed, -49%c; No. 2 white, ■ N 2 yell >w, 19 , •■/ 50c: No 5 mixed, 457i,48%e: No. 3 white, 4'% \c i- | No 5 yellow, 48% >( 18% C; No. 4 11 x ■!, 47'n 47’jc: No 4 white. 47@47%c: No. 4 yoiiow, 47% •/ I. V Oats—No. 2 whit". 570.35%e: 8". 3 white, 31'{j35%c; No. 4 white, 35%7i3i%e. TOLEDO GRAIN FRICKS. TOT.EDO Jan. 26.- Wheat—Cash, si .-;;- '.'1.25; Mav. $127%; July, $1.07%. c ,-n i-b, :>2%0 t 53%e. Oats—Cash, :.'/[ .la*. llye—Cash, 86c. Barley— Cash, 63c". PRIMARY MARKETS. (By Thomson .A McKinnon.) —.lan. 20 lb ceipts Wln-at Carn. Dots. St. J. seph .. 2k,.660 27,000 4.000 , . . 29 000 1,301 000 228,000 Milwaukee ... 3.(HK) 157.000 67.000 Mi l; ip dis . oOi'.imhi 6,0,000 65,000 | Milt. J, 71,000 30.0(H) 15.1HH) 1 ...gis .... 60,1/00 176.000 111.000 T,,|. io 3,())0 44,000 10,000 ! •... fdt 3.0)0 6. 1nt0 ll).(KM) Kan-.)' City . 154.006 36.600 17.000 I’. i>r .i 97.000 452,000 Omjiha 35,000 154.000 38.000 Indiana;' dis 80,000 31,060 Totals 093.060 2,228,000 054.000 Years ago .1 122.600 1.823,060 538,000 —.Shipments— Wheat Corn. Oots. St. Joseph .. 37.000 41,000 2.000 (•),'< 1-0 13,000 736,000 204.000 Milwaukee ... 4,000 109,000 27,000 'li! ;. ipells . 121,000 06,000 36,000 Diilulh l.ikH) I."iiis 82,01)0 96,000 84,000 T dcd.) 1,000 45,060 Detroit 10.600 I Kansas City . 156,000 1.8.000 10.001 l IVeria 1.660 115,000 4!).(H)0 Omaha 49,006 200,000 22.<KK) Indianapolis 45,000 2.000 Totals 459.000 1,47*.600 466.000 Year ago... 913,000 846,000 415,000 —Clearances - Wheat Corn. Oois. New York ... 4,000 .83.000 15,1KK) Baltimore 628.000 New Orleans . 12.000 166,000 Galveston .... IiO.OOO Tolnls 156.000 877.000 15,000 Year ago... 518,000 292,000 1,000 INDIANAFOI.IS C ASH GRAIN. —Jan. 2(4 15UIs for car lots of grain and hay at the call of the Indianapolis Board of Trade were; Wtieat —Firm; No. 2 re 1. $1.264?1,28. Corn —Firm; No. 3 white. 49050%e: No 1 white, 4SO 19%c; No. 3 yellow, 49 (./ 50e; No. 4 yellow, 48f//48%c; No. 3 mixed, 4'o 49'%c; No 4 mixed. 47048'7c. Oats—Steady: No. 2 xvhite, 37%@39c; No. 3 white. 3O'|o 57%c. Hay - Weak: No. 1 timothy. No. 2 timothy, $16.50017; No. 1 light ■ lev r mixed, $51016.56; No. 1 clover, $18,500' 10.50. —lnspections Wheat—No. 3 red, 1 car; No. 4 red, 1 car; total, 2 cars. Corn —No. 3 white, 1 car; No. 4 white. 12 cars; No. 5 white, 3 cars; No. 6 white, 4 ears; No. 2 yellow. 1 car; No. 3 yellow, 4 cars; No. 4 yellow, 17 cars; No. 5 yellow, It cars: No. 6 yellow, 5 cars: sample yellow, 1 ear; No. 3 mixed, 2 cars; No. 4 mixed, 9 ears; No. 5 mixed, 1 ear: No. 6 mixed, 1 car; total, 75 cars Oats—No. 1 white. 1 car; No. 2 white. 3 ears: No. 3 white. 16 cars: No. 4 white. 8 cars; No. 3 mixed, 1 car; total, 29 cars. Hay—No. 1 timothy, 2 cars; No. 1 light clover mixed, 1 car; total. 3 cars. WAGON WHEAT BRICES. Indianapolis flour mills and elevators totiav were paying $1.14 per lushed for No 1 red winter wheat; $1.12 for No. o rej winter and according to test for No 3 red winter. Oats were quoted ax 27c per bushel for No. 3 white or better. CLEVELAND PRODUCE. CLEVELAND, Jan. 20.—Butter—Extra, in tubs. 40c; prints. 4(>@4o%c; extra firsts. 39c; firsts. 40@4P%c; seconds,! 32032' *c; packing stock, 18@20c. Eggs—" Fresh gathered northern extras, .“.lie': extra firsts, 38c; Ohio firsts, new can's, 37 %e; old cases, 37c; western firsts, new cases, 36c. Poultry—Live heavy fowls, 250 20c; spring culls, 20022 c; spring ducks, 280 30c; turkeys, 35040 c. Potatoes Miehigans, $2.95 per 150-lb. bag; Early Chios. $2.10 per 120-lb. bag; sweet potatoes, Jerseys, [email protected] per hamper.

Local Stock Exchange

—Jan. 20— STOCKS. Bid. Ask. Ind. Ry. & Light com 60 Ind. Ry. & Light pfd 75 ... T. H„ T. & L. pfd 63% ... Indpls. iA N. W. pfd 60 Indpls. St. Ry 40 45 T. H., T. &E. pfd 03% ... T. H„ T. & E. com 4 T. H.. I. & E. pfd 10 U. T. of Ind. com ... 1 U. T. of Ind. Ist pfd 7 U. T. of Ind. 2d pfd * 2 Advance-Rumely com.,, * Advance-Rumely pfd ... 1 Am. Creosoting pfd 92% ••• Am. Central Life 175 ... j Belt R. It. com 66 71 i •Beit K. It. pfd 48 Century Bldg. Cos. pfd 93 ... ] Citizens Gas Cos 25% 27% City Service coin. City Service pfd Dodge Mfg. Cos. pfd 88% ... •Home Brewing 43 ... Ind. Hotel com 65 ... •Iml. Hotel pfd 97% ... Indpls. Nat. Ins. Cos 3% ... Ind. Title Guarantee Cos 45 Indiana Pipe Lines 85% 90% Indpls. Abattoir pfd 41% ... •Indpls. Gas 45 49 Indpls. Tel. com 2 ... Indpls. Tel. pfd 96 ... Mer. Pub. Util, pfd 48% ... Nat. Motor Car Cos 1% 2% Pub. Sav. Ins. Cos 4% ... Rauh For. pfd 46 Stand. Oil of Indiana 65% 87% Sterling Fire Ins. Cos 7 8 Van Camp lldw. pfd 160 Van Camp Packing pfd 106 Van Camp Prod. Ist pfd.. 160 Van Camp Prod. 2d pfd lfiO Vaudalia Coal Cos. com 3% Vandaiia Coal Cos. pfd 5% 9 Wabash Ry. pfd 39> j 21% i Wabash Ry. com 5% 7% ' BONDS. Broad Ripple 5s CO 65 ! C’tizens St. Ry. 5s 72 75 Indian Crk. Coal and Mine 100 Ind. Coke & Gas 5s 60 Indpls. C. Sc S. 5s 91 Indpls. & Martinsville 55.... 57 ... Indpls. .A North. 5s 36 41 Indpls. & N. W. 5s 54 Indpls. & S. E. 0s 45 Indpls., Shelby. <A S. E. 5s 75 Indpls. St. Ry. 4s 58 63 Indpls. T. A T. 5s 76% ... T. H , I. ,A E. 5s 50 .. % U. T. of Ind. 0s 44 Citizens Gas 5s 83 .., Indianapolis Gas Cos 82 Kokomo. M. A W. 5s 83 ... Ind. Hotel Cos. 2d 5s 95 ... Indpls. L. & H. 5s 85 90 Indpls. Water Cos. 5s 92% 95 Indpls. Water Cos. 4%5...... 80 85 Mer. Tel. Ist 6s 96% 99% Mer. Tel. Ist Cs 96% 90 New Tel. E. D. 5s 94 Sou. Ind. Power 5s SS% •Ex dividend. LIBERTY BONDS. Liberty First 3%s 96.64 9701 Liberty First 4%s 97.32 97 52 Liberty Second 4%s ‘.*7 26 97.34 Liberty Third 4%s 97.7" 97.84: Liberty Fourth 4%s 97.30 97.50 Viet ry ::%s B '66 1<)".12 Victory 4%s 100.00 100.16

Weather

The following table shows th" „late of . the weather in other cities at 7 a. m.. Jan. 20 as observed by U. . Weather j Bureaus: Station Bar. Temp. Weather j Indianapolis, Ind... :ai246 41 Clear Atlanta, Ga 36.14 50 < Iwidy Amarillo, Tex 30 14 16 Cloudy Bismarck. N. 1).... 29.98 8 Clear Boston, Mas 30.10 34 Cloudy Chicago, 111 30.28 8 PtCidy Cincinnati, <> 30.3d 18 Cloudy Cleveland. <) 30.34 14 Cloudy Denver, Colo hO.os 2 Clear Dodge fitv, Kan.. 20.16, HI cloudy Helena, Mont 20.14 1' Cloudy Jacksonville, Fla... 36.24 62 (Tear Kansas City, M 0... 30.20 16, Cloudy Louisville, Kv 30.3(4 21 l’tCldv Little Rock. Ark... 30.20 2' Cloudy I.os Angeles, Cal.. 30.22 34 clear Mobile. Ala 36 12 54 Rain New Orleans, La... 30.10 56 Cloudy New York. N. Y. .. 30.20 36 Cloudy Norfolk, Va 30.20 61 Rain Oklahoma Citv .... 30.14 10 Clear Omaha. Neb 30.14 10 Clear Philadelphia, l’a. .. ::n 24 38 Cloudy Pittsburgh, I’a. ..30 32 22 PtCbiy Portland. Ore 36.40 28 Rain Rapid City. S. I>. . 36.12 16 Ch ifily Roseburg. or,* 30.44 20 Clo tdy San Antonio. Tex... 30.18 30 Clo'udy San Francisco, Cal.. 30.26 30 Clear St. I.nuis, Mo 30 34 1' Clouiy Sr. Paul. Minn 29.96 16 Cfimdv Tampa. Fla 30.24 ■ 62 Cloudy Washington, D. C.. 30.22 40 Cloudy WEATHER CONDITIONS. Since Thursday morning the cold wave lias overspread the region between the Great Lakes and the west Gulf coast. Warmer weather has advanced in its rent from Minnesota southtvestward to New Mexico and westward to the Rockies. It is somewhat colder in turn over middlewestern Canada. Light mow Hurries have fallen in the northern tier of States, and light rains are reported from southern and eastern sections, except in the extreme southeast. ,T. 11. AKM IN (.TON. Meteorologist, Weather Bureau. CHICAGO PRODUCE. CHICAGO. Jnn. 20— Butter— Receipts. C.ooo tubs: creamery cxiras. :tj%c; firsts. 26%031c; packing stock. ifii/tSe. Eggs— Receipts, 8.000; ca'os; current receipts. 23035 c; ordinary tir'is, 300 32c: firsts. 20032 c: checks, 250 20': dirTies. 270 28c. Cheese—Twins, new, 20c: daisies, 200 20%e; young Americas, 20%021c; longhorns, 20%e; brick, 17c. Live poultry— Turkeys, 35c; chickens, 23c; springs, 21c: roosters, I7c; geese. 17c; ducks, 27c. Potatoes—Receipts. 27 cars; no sales reported ; too cold to open cars. MARRIAGE LICENSES. Whealcr Burke, 330 Massachusetts av.6l Minerva Parsley, 1330 W. 2S st 57 Wilburn Neves, 2201 N. Rural st 23 Jessie Callings, 2429 N. Dearborn 5t.,19 Frank (>. Main, 402 N. Meridian 5t....38 Ruth Dew, 1847 Brookside av 37 Waiter Janes, 2204 Thornherry st 41 Sarah Moore, 2319 Roosevelt av 35 William .Tones, 119 X. Traub av 22 Margaret Sweeney. 305 S. Warman av.2o Maurice Sb kcl. Chicago 25 Dorothea Baldridge, 401 W 28 st 20

Our Financial Secretary

CW InrettmcmiS

FLETCHER AMERICAN COMPANY Second Hoor Fletcher Bank Bldg. INDIANAPOLIS

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

WOMEN TRY TO KEEP OFF CARS DURING RUSH St. Louis Shoppers Avoid Trolleys at Time Workers Must Go Home. ST. LOUIS, Jan. 20. —Tired St. Louis business men ard women are going to have an o**pe*“tun,ty at last to get a seat on the street car *n the evening, thanks to a group of thoughtful-minded St. Louis clubwomen, the Woman's Chamber of Commerce. The organization is three years old and boasts an affiliated membership of it.dividuals and clubs around 70,006. It represents 300 clubs and is the largest woman's organization of its kind in St. Louis. Mrs. J. Alex Goodwin heads the organization, which has civic work as its reason for being. Each year it looks around for some civic enterprise to take part in that which is peculiarly a woman's work. Many of its metings are held downtown causing its members to go home when the cars are most crowded, between the hours of 5 and 6 p. m. St. Louis does not have the subways and elevated roads and its transportation problem is a seri--1 us one. with its large suburban population dependent upon surface cars alone. So it was this year that the members hit upon the Idea of doing its bit in a %vic way by urging its members to go home before 5 o’clock from shopping tours or club meetings and give clerks, stenographers and others seats instead of causing them to hang on to carstraps i after working hard all day. MEETS W ITH RESPONSE. The idea met with excellent response, according to Mrs. Goodwin, and pledge cards are to be sent to all the membershir. to be filled oat for the new movement. The Men's Chamber of Commerce and Men's Advertising Club have become interested and promise their support. The railroad officials are pleased to say the least, and promise the women free advertising for their scheme. Resolutions to the effect that the members will support the enterpriso havo been formally passed. Mrs. Goodwin said recently that several members of the Woman’s Chamber of Commerce hit upon the scheme when * hev remained down town too long on day and were compelled to strap hang all the way home. "Then they were made to see that it was just such people as , they that made people who must wait i down town suffer on the homeward j bound cars. We all took up with the suggestion eagerly and both ourselves and business men and women will benefit from our resolution. Other cities could do likewise. AVe have no patent on the idea.”

ST. LOUIS NOW * HAS ‘REGULAR’ MUGS’ GALLERY Institution, Once Removed, Is Restored, and It’s a Model. ST. LOUIS, Jan. 20.—The “Rogues’* Gallery,” abolished by Samuel Allender, f Tiaer chief of detectives, six years ago, lias been re-ectablished at police headquarters. ’l i e board decided a regular up-to-date gallery is part of a well organized police department and the one for the StI.onis department is one of the largest j and the best in the country. In abolishing the ’‘gallery” when he was chief, Allender said it filled up with the pictures of men. some of them never convicted, serving ns an influence against i reformation. The ’ galler ■” was abolished and the photographs iled in cabinets. The new 1 '22 model “gallery” ordered f,r the present system is in enlarged, I rigid book f rtn, hung on hinges. The I frames form leaves which can be turned from left to right so that pictures can be placed back to back and exhibited on both sides. There are now 90,000 or more photographs and descriptions of known crooks in the files of the Bertillion Bureau at headquarters. The board decided to have these gon' over by experts and of these a selection of 12.600 faces made. These 12,000 will include the most notorious crooks an i the ones who have come to the attention o ftfce police of late years. Men xvi.o would now be too decrepit or infirm to lead a criminal life will not lie shown. This 12.000 will be augnmen red from time to time by pbotograuhs from the local ga lery. taken here, and by pictures and descriptions sent here from thhe National Bureau of Idcn--1 tifleation. INDIANAPOLIS PRODUCE. E"gs—Loss off, 27030 c. Butter—Paekine stock. 15017 c. Poultry—Fowls. 160 •'3c; springs. 19@23e: cocks. Il<gi2e; stags. 13015 c; capons, 7 lbs. and up, 33c; I capons, under 7 lbs., 2uo; capon slip*, f I ;p s and up. 27c; capon slips, under 7 lbs., '•’3c‘ young hen turks. 8 lbs. and up, 39c; young to'" turks, 12 lbs. and np, 38039 c; old torn turks, ’.1032c; cull thin utrkeya not wanted: ducks. 4 lbs. and up, 16019 c; "veso, 10 lbs and up. 14016 c; squabs, 11 Tbs t dozen. $5: young guineas, 2-lb. size, nor doz . $707.50; old guineas, per do*, $303.50. Butter —Local dealers are paying 36a 37e per lb. for butter delivered In laA anapoiis. Butter Fat—Local dealers are paylnf 32c i*t r lb. for butter fat delivered la Indianapolis.

Plan Assists You With Uncle Sam— A valuable time and money saving phase of our Financial Secretary plan is that of assisting you in the preparation and execution as your agent of declarations (certificates) of ownership required under federa’ income tax law for the collection of interest. The details are covered in a booklet, copy of which will be mailed on request. If you prefer, we can arrange for a conference at your convenience.