Indianapolis Times, Volume 34, Number 234, Indianapolis, Marion County, 9 February 1922 — Page 12

12

TWO FEATURES HOLD INTEREST IN STOCK DEALS Profit-Taking in Industrials and Rail Buying Demonstration of Interest. UNSETTLED TONE RULES By MONITOR. Special to Indiana Daily Times knd Philadelphia Public Ledger. NEW YORK, Feb. 9.—The stock market contained two trading features of interest, one consisting of profit taking in the industrials and another of a buying demonstration in the rails. It should not be assumed from this that all of the Industrials were weak, for in a few issues, such as Studebaker and Chandler, the shorts appear to be in an uncomfortable position. Generally speaking, however, the tendency In this quarter of the market was reactionary, although losses were confined largely to fractions. Examples of exceptional weakness were furnished by Atlantic Gulf, United States Food Products, International Harvester and a few other issues. The profit taking in the industrials probably was facilitated by the strength of the rails, as holders of stocks were inclined to remark the activity in the carriers as more or less of a movement to aid distribution elsewhere. Northern Pacific established anew high level for the year, and there was good buying of St. Taul preferred, Chicago and Northwestern, Chesapeake & Ohio and Missouri Pacific preferred. The grains were not fully maintained, however, and some of the rails even closed at a loss for the day. The unsettled tone of the market, for it may be justly called such, was due in large measure to reports from Washington to the effect that the House Ways and Means Committee favored a tax of onefifth of 1 per cent on stock and bond transfers for the purpose or raising a portion of the soldiers’ “bonus” requirements. It was authoritatively stated that the chairman of the committee favored the tax because he believed it would be “popular,” and that after the meeting of the committee the suggestion to extend ft he tax to transactions in cotton and grain contracts had met with favor. The feeling in financial circles is that a measure of this character would be a poor revenue producer, as it would virtually kill all activity in the markets. The tone of the weekly review of the Iron Age was somewhat more encouraging, especially as it made note of larger buying by the railroads, with substantial orders both for cars and rails. Sterling made another new high level, the explanation for this last spurt being furnished by the decision of Australia to repay war advances amounting to more than $400.000,000. —Copyright, 1922, by Public Ledger Company.

WALL STREET GOSSIP BV MONITOR. Professional activity shifted from the industrial list to the railroads. A movement in the St. Paul issues was a reflection of the speculative accumulation which has been in progress. A wellknown professional who long has been absent from the board reappeared and took an active part in advancaing the • ■iioiation of the preferred stock more than three points and the common half as much. W bile the rails and Studebaker were being advanced, there was heavy selling of other industrials. This selling brought about great irregularity verging on weakness just before the close. It has been understood that the objective of the Studebaker pool for this move was 96. This objective was gained when the stock sold at 90%. The quotation remained above 96 only a short ■ aue and under large offerings declined two points. There was an active demand on the reaction by trades who had sold the stock short bn the earlier advance. Chandler Motors just equaled its recent high at 6514. It. too. felt the result of profit-taking sales and declined nearly 2 points. Short covering brought a smart rally on the close. It is understood that the short interest in this stock now is larger than at any previous time, but it is doubtful if this short interest will be driven to cover at once, in the opinion of firms who have watched the trading. As the short interest is large, so too there is an unwieldy long following, and the shorts will act ns a buffer in the event of a decline, brokers say. Some weeks ago the St. Paul stocks were sold freely by the professional element on the reports of possible financial digiculties in providing for maturing indebtedness. Official denials were not taken seriously by the trading element, with the result that a large short interest was built up. This selling was taken by powerful interests, and it needed only a little aggressive buying to force yesterday's movement. Baldwin Locomotive was one of the chief sufferers in the late reaction. There was some evidence of scale buying as ihe price approached 101. and professionals are loath to follow the short side of this stock in view of the recent losses they incurred. There was no news bearing specifically upon this or any of the other equipments, all of which were reactionary during the afternoon. Only one sale of Union Oil was recorded although announcement was made of the incorporation of the shell union oil company of Delaware, with a capital stock of 3.0,000,000 shares of no par value. Mexican Petroleum failed to respond to the announcement of the bringing in of anew well which is reported as producing 75,000 barrels per day. There are a few hardy professionals who trade in this stock, but the serious losses entailed by its fluctuations last year have resulted in the loss of most of its trading following. The Independent Denver and Rio Grande Protective Committee of which .Fames 11. Perkins is chairman, announces the following sub depositories: Merchants Loan and Trust Company, Chicago; National Bank of Commerce, St. Louis; Bankers Trust Company. Denver, and Hope Company, Amsterdam. Holland. Directors of tile NUes Bement Pond Company passed the quarterly dividend due at this time on the common stock. Payments usually have been at the rate of 1 per cent quarterly. The regular quarterly payment of 1% per cent was authorized on the preferred. The annual report shows a deficit after taxes afid depreciation of $2,737,434 as compared with a net profit of $1,031,522 in 1920.

Endieott Johnson sold at 80 on relatively light transactions. It Is understood that the selling is liquidation of long stock. The selling is induced by the belief that the stock is selling too high as a 5 per cent issue, and that there is no immediate prospect of an extra dividend. There are intimations in quarters familiar with the operations of the company that an extra disbursement probably will be voted during the present year. United States Steel was heavy all day without great activity. This was due in part to revised estimates of the unfilled tonnage figures to be made public today. With practically complete reports from the various mill center at hand, it seejns probable that there will be little change, but* the action of the stock was taken to indicate that a reduction rather than an increase is probable. Directors of the American Sugar Refining Company declared the regular quarterly dividend of $1.75 per share on the preferred stock. A quarterly dividend of $1.50 per share was declared by the directors of the American Beet Sugar Company on the preferred stock of that .company. The sugar stocks were inactive, although the price of refined was reduced 10 points by local refiners. The advance in the rails was interesting to the market student, indicating the future course of these securities rather than for the immediate present. The advance in stock prices this month is felt to be only a seasonal movement to be followed by a seasonal reaction and later by greater activity on the siiL of ad-

vancing prices than has yet been seen. Conservative firms have taken this view and knowledge of the character of the accumulation in the railroad stocks largely is the basis for this expectation. The movemeut thus far has proved encouraging to investment houses in that it has developed a real public interest, despite the difficult times through which the railroads have passed. There was considerable comment in banking circles when it was learned that the steamer Carlsholm arrived from Sweden with $4,939,200 in Russian gold coins. The shipment was consigned to the Guaranty Trust Company. On the same vessel was $860,000 in German gold coins and two cases of platinum consigned to the National City Bank. Loew’s Tne.. and subsidiaries report for 1921 operating profits after expenses and depreciation of $1,800,780, equal to $1.69 per share. Following the ratification by stockstock of the Manhattan Shirt Company stock of the Manhattan Shirft Company the directors declared a special stock dividend of 10 per cent, a quarterly stock dividend of 2% per cent, and the regular quarterly cash dividend of 50 cents per share.—Copyright, 1922, by Public Ledger Company.

N. T. Stock Exchange (By Thomson & McKinnon) —Feb. 9 I 1 rev. High. Low. Close, close. Adv.-Rum. com. 13 13 13 14% Ajax Rubber... 15% 15% 15% 15% Ailed Chemical 58% 58% 58% 58 Allis Chalmers.. 45% 45 45% 45 Am. Beet Sugar 36% 36 36 36% Am. Can 37% 36% 37% 37% Am. C. & Fdy..147% 146% 147% 147% Am. Ice 94% 94 94% 93% Am. II & L pfd. 65% 64% 65% 64% Am. Inter. Cor.. 43 41% 43 42 Am. Loco 108% 106% 108% 106% Am. Steel Fdy. 32% 32 32% 32 Am. S. & Ref.. 45% 45% 45% 45% Am. Sugar Ref. 67% 65% 67% 66 Am. S. Hob. Cos. 28 28% 26% 27% Am. Tel. & Tel.llß 117% 118 118% Am. Tobacco... 137% 136% 137% 136 Am. W001en.... 83% 82% 83% 82% Anaconda 48 47% 47% 47% Atchison 97% 96% 96% 96% Atl. Gif. &W. I. 26% 25% 26 26% Baldwin Loco.. 103% 100% 113% 101 B. & 0 36 35% 36% 35% Beth Steel (B). 64% 61% 64% 62 Brook. Rap. Tr. 11% 10% 11% 10% California Pete. 48% 47% 18% 47% Can. I’ae. Ry... 126% 125 126% 125'/.. Central Leather 32% 32Vi 32% 32Vi Chandler Motor 65% 6374 04% 64% C. & 0 58 57% 57% 57% CM&St I* com 20% 19% 20% 79% CM&St I* pfd. 35% 34% 34% .35% Chi. A Nw 67% 66% 67% 66% C.. R. I. & V 34Vi 33% 33% 33% CRI & P 6 r /c pf. 75 75 75 74% Chili Copper.... 16% 16% 16% 16% Cluett 52 53 53 Chino Copper.. 26% 26% 26% 26% C. C. C. & St. L. 53% 53% 53%# 35 Coca Cola 45% 45% 45% 45% Con. Gas 89% 89% 89% 90% Continental Can 54 52% 53 56% Corn Products 103% 102% 103% 102% Crucible Steel.. 62% 60% 62% 61% Cuban Am. 5... 19% 18 18 187s Cuban Cane S.. 10 9% 9% 10 Del. and Lack 111% 111% 111% 113 Dome Mines .. 237i 23% 2374 22% Erie 11 10% 10% 10% Erie Ist pfd.... 16% 16% 1674 16% Endieott and .1. 81 80% 81 80 Famous Players 79% 77% 70% 78 Fisk Rub. C 0... 12% 12% 12% 12% Gen. Asphalt... 61% 60 61% 60% Gen. Cigars 68 6S 68 67% Gen. Electric ..146 146 146 1457Gen. Motors.... 9Vi 9 9 9% Goodrich 36% 36% 36% 36% Gt. North, pfd. 747- 74% 74% 74% Gt. North. Ore. 35% 34% 35% 35 Gulf S. Steel... 76% 74 7574 74% Hupp 147- H 14% 14 Indiahotna 3% 37i 3% ■■■• Inspiration Cop. 38 38 38 38 Inter. Harvester 83% S3 53% s:! Inter. Nickel... 12% 12% 12% 12% Inter. Paper. .. 49% 49 49 48% Invincible 0i1... 15 14% 15 14% Kan. C. South.. 24% 2374 24 33% Kellv-S. Tire .. 3S 57% 3S 37% Kenneeott Cop.. 2774 27% 27% 27"., Laeka. Steel.... 47V* 47 47% 47 Lee T. & Rubber 28V* 2874 28's 28 I-ehigh Valley , 59 ->9 "0 -'9 Loews, Inc 11% 117* 11% 11% M. Perry 33 52 V* 32% 31 n Marine com. .. 15% 15% 15% 15% Marine pfd. ... 71% 69% 70% 69% Maryland Oil .. 28% 2774 27% 27% Mex. Pet 117% 114% 116% 114% Miami Copper . 26% 26% 26% 26% Middle S. 0i1... 12% 1274 12% 127i Midvale Steel .. s.lV* 2974 31V* 29% Missouri I’. R.v. 18% 1874 78% 187** M. Pac. Ry. pfd. IS% 48 48% 47% Mont. Ward . 14 1374 13% 13% N. Y. Central... 76Vi 75% 7674 75% New Haven IS>* IT- 1 ;* 1774 177s Norf. & West..loo% 1"0% 199% 100**, North. Pacific.. 797* 78*5 7874 78% Okl. Pro. &, Ref. 2% 2% 2% Owen Buttle com 2878 27% 28% 27% Pacific Oil 467* 45% 457s Pan-Arn. Pete... 537* 527* 5374 52V* Penny. Ry 35 34% 34% 34% People's Gas... 76 72 75 71j* Pere Marquette. 2274 21 % 22% 2174 Pierce-Arrow .. 15% 147* 15 14% Pierce Oil 9V* 9 974 974 Pulmn. Pal. Car. 117% 116 116% 116 Pure Oil 34% 3374 34% 34% Ry. Steel Spgs 98 Reading 73% 75.% 7374 75% Rep. Iru. & Stl. 53% 5174 53% 51% Replogle Steel.. 317* 3,0 31% 50% Kyi. lick. N. Y.. 50% 50% 507* 50 Sinclair 19% 19% 197* 19% Sl.-Sh. S & 1.. 4040 4040% South. Pac. ... 8274 82*4 82’% 8274 South. Ry. 19% 18% 18% 19 South. Ry. pfd. 52 52 52 Std. Oil, Ca 1.... 94*4 94 9474 9474 Std. Oil, N. .T.. 176 176 176 176 St. L. &S.K. cm 23% 22% 23% 22% Stew & War... 30 29% 5.0 29 Strom. Car. ... 39% 39% 39% 39 Studebaker .... 96% 94% 96% 95 Tex. G Sttlph.. 44% 43% 43% 14,74 Tex. Coal & Oil 25% 24% 25 25,% Texas Cos 45 48% 4474 44% Tex. & Pac. .. 31% 30% 3174 30% Tob. Prod 6374 63 65 7* 63Vs Trans. Oil 10 974 97*8 10 Union Oil 19% 1974 1974 1974 in. Pac 13074 12978 129% 12974 United Drug..., 68 67 % 677, 67*,* United Fruit.... 134 132% 134 1337* U. S. It. Stores 5574 5474 5574 54% U. S. Food P... 3>s 27, 5 374 U. S. In. Alcohol 44% 43 44% 43’/* U. S. Rubber .. 54% 5374 5474 53% U. S. Steel 89% 86% 89% 86% U. S. Steel pfd.. 1167* 116',* 116V* 116 Utah Copper .. 61% 61 61 61% Van. Steel 357* 38% 3574 83% Wabash 7V* 7',s TV, 7’* Wabash Ist pfd. 21% 21% 217, 21% W. Maryland... 87a 87s 874 9 West. Pacific... 1574 15% 15% Western Union 897- *89% 89% 89% West. Elec 53'-- 52% 537- 52',* White Motors .. 38% 38 88 5874 Willys-Overland 5% 574 574 57White Oil 974 574 '■% 8% Woolworth 151% 151% 151% 1517* Wilson 3374 3374 3374 34 NEW YORK LIBERTY BONDS. —Fel'. 9 Prev. High. Low. Close, close. Liberty 3%s 90.46 95.50 96.46 95.30 Liberty Ist 4s 90.20 Liberty 2d Is.. 96.10 90.02 96.02 95.88 Liberty Ist 1745.. 96.50 90.32 90.44 90.20 Liberty 2d 45.. 96.22 96. 1 0 90.08 96.00 Liberty 3d *I%S.. 97.:.6 97.22 97.30 97.12 Liberty 4th 4',is. 96.30 96.26 96.26 90.16 Victory 3%s ....100.10 100.04 100.04 100.14 Victory 4%s 100.12 100.10 100.10 100.10 CHICAGO STOCK'S. (By Thomson & McKinnon) —Feb. 9 Prev. Open. High. Low. Close. Armour Leather 1274 1 274 12% 12’* Case Plow 374 374 874 374 Cudahy 57% Com. Edison... .11574 Con. Motors 574 5% 0% 5% Deer Cos. pfd.. 60 Sari Motors 274 Libby-MeXeill . 5% 5% 5% 5% Mont. Ward... 13% 14 13% 13% Pick &Cos 23% 23% 23% 23% Piggl.v Wig. A. 3774 377, 37 37 Reo Motor 19 Stewart Warner 2974 30 297* 80 Swift A- Cos 10274 10274 101% I°l% swift Inti 2174 21% 2174 21% Thomp. (.UK.). 42 Temtor Corn A. 3%. 3% 374 374 Union C. & C... 46% 4674 40% 4674 Wahl 65% 06 6574 ,lt: Wriglev 10574 108 105% 107 Yellow' Taxi 00'/- 00% 607a 0074 NEW YORK HIDES. NEW YORK. Feb. 9.—Trade in hides was rather quiet on the market here today. Prices ruled about steady, native steer hides selling at 16c and branded steer hides at 15@15'/4c per pound. NEW YORK PETROLEUM. NEW YORK. Feb. o.—Petroleum prices were again steady in trade on the market here today, Pennsylvania crude selling at $3.25 per barrel.

STOCK MARKET TONE IS STRONG U. S. Steel Makes Sharp Advance in Final Trade. NEW YORK, Feb. 9.—The stock market closed strong today, marked by a sensational advance in United States Steel in the late dealings. That stock was in large demand and rose to 89%, an upturn for the day of over 3 points and anew high price for the year. Mexican Petroleum was also strong, touching 117, but later reacted to 116%. Many of the low priced railroad shares were active and strong, and made advances of from 1 to 2 points. Chicago & Northwestern was the leader of the standard rails, moving up 174 points to 67%. Baldwin Locomotive rose to 103% and Bethlehem Steel “B” touched 64%. The motor shares hol'd around their earlier levels. Government bonds were unchanged and railway an dotlier bonds strong. Total sales stocks for the day were and railway and other bonds strong. (By Thomson & McKinnon.) —Feb. 9.NEW YORK. Feb. 9.—The stock market having reacted moderately on the proposition submitted by the chairman ot the house wavs and means committee to place an additional tax on security transactions it was logical for the market to recover on the further announcement today that the views expressed were the personal views >*f the chairman and was not to be considered as the settled policy of the committee. If we may judge of the action of the market, which, alter all, is the best indicator of sentiment, we would have no hesitation in saying that the changes or adverse legislation have materially lessened. probably because of the expressed opposition from many quarters. Aside from this, there was nothing especially new in relation to business or the security markets. Business is moving along showing gradual improvement. This is indicated iu the latest figure published with regard to car loadings, decreased unemployment. from the Northwest reports are growing more encouraging, railroads are taking on additional men, in steel mills there is a little betterment in production. the president of the Southern Kailwav, in a report just issued, calls attention to satisfactory conditions in that section and the Secretary of the Treasury again speaks of general business improvement. . At the moment the only thing unfavorable is the receivership proceedings against several corporations, but in these cases the action is not surprising and in the end will be beneficial, since it will clear the atmosphere. In the absence of any new unfavorable developments, we continue in our faith in the market and expect a gradual betterment. TWENTY" STOCKS AVERAGE. NEW YORK, Feb. 9.—Twenty industrial stocks Wednesday averaged 82.72, off .64 per cent. Twenty active rails averaged 76.60, up .22 per cent. CLEARING HOUSE STATEMENT. NEW YORK. Feb. 9.—Exchanges, $583.800,000: balances. $45,200,000; Federal Reserve Bank credit balance, $36,700,000. Money and Exchange Indianapolis bank clearings Thursday were $2,490,000; bank debits, $4,208,000. NEW YORK, Feb. 9.—The foreign exchange was strong today. Demand Sterling was l%c higher at $4.38%. Francs advanced 6 centimes to 8.09 e for cables and to 8.6874 c for checks. Lire cables were 4.98 c; checks, 4.9774 c. Belgian francs cables were S.3le; checks. 8.3074 c. Marks were unchanged at .0052% e. Guilder cables were 37.43 c; checks. 37.38 c. Sweden kronen cables were 26.20 c; checks, 26.15 c. NEW YORK CALL MONEY. NEW YORK. Feb. 9. Money—Call money ruled 5 per c *nt; high, 5 per cent; low, 5 pi r cent. Time rates were steady; all 4%©5 per cent. Crime mercantile paper was steady. Sterling exchange was strong with business in bankers' bill at $4.3574 for demand.

MOTOH SECT RITIES. (By Thomson & McKinuou.) —Feb. 9 Closing Bid Ask. Earl Motors 2% 3 Packard com 6 t>% Packard pfd 65 67 Peerless 36 38 font. Motors com 5% 5% Cont. Motors pfd 85 88 Hupp com 14 14% Ilupp pfd 90 Reo Motor Car 18% 19 Elgin Motors 2% 3 Grant Motors i 1% Ford of Canada 281 285 National Motors 1% 2% Federal Tru k 15 17 l’aige Motors 13 14 Republic Truck 5 5% ACTIVE OIL STOCKS. (By Thomson & McKinnon) —Feb. 9 —Opening Bid. Ask Anglo-American Oil 17% 174* Atlantic Lobos 8% 9% Borne-Scrymser 320 340 Buckeye Pipe Line 91 92 Chesebrough Mfg. Cons 175 185 Continental Oil, Colorado... .12.8 132 Cosden Oil and Gas 5 8 Crescent Pipe Line 32 34 Cumberland Pipe Line 130 150 Elk Basin Pete 5% 5% Eureka Pipe Line 86 90 Galena-Signal Oil, pref 105 10!) Galena-Signal Oil, com 41 43 Illinois Pipe Line 107 170 Indiana Pipe Line 87 90 Merritt Oil S% 8% Midwest Oil 2\-. 3 Midwest Kfg 165 175 National Transit 28% 29% New York Transit 150 157 Northern Pipe Line 107) 105 Ohio Oil 208 272 Oklahoma I’, ic R 5% 6 Penn.-Mex 17 * 20 Prairie Oil nnd Gas 530 540 Prairie Pipe Line 238 243 Snpulpa Refg 3 374 Solar Refining 370 375 Southern Pipe Line 94 96 Soiltli Penn 7)il 185 195 Southwest Penn Pipe Lines.. 5.8 62 Standard Oil Cos. of Ind 85% 86 Standard Oil Cos. of Kan 5"0 560 Standard Oil Cos. of Ky 450 475 Standard Oil Cos. of Neb 165 175 Standard Oil Cos. of Ohio ....385 395 Standard Oil Cos. of N. Y' 355 360 Swan & Finch 30 40 Vacuum Oil 328 335 Washington Oil 28 33 NEYV YORK SUGARS. NEW YORK. Feb. 9.—Raw sugars were easier in trade on the market here today, Cnbas selling at 3.67 c per pottud, duty paid, and Porto Ricos being quoted at 3.61 c per pound, delivered. Refined sugars were rather slow. Both fine granulated and No. 1 soft was quoted at 5@ 5.10 c per pound. NEW YORK COFFEE. NEW YORK, Feb. 9.—Coffee values ruled steady in trade on the exchange here today, opening options being 1 point higher. Rio No. 7 on spot sold at 9%c per poind. NEYV YORK RICE. NEW Y’ORK. Feb. 9.—Rice values ruled firm on the market today, domestic being quoted at 3%4/;7%c per lb. NEW YORK WOOL. NEW YORK. Eel). 9.—W00l values ruled firm on the market here today. Domestic fleece, XX Ohio, was quoted at 25 ©39c per pound: domestic pulled, scoured basis, is© 67c; Texas domestic, scoured basis, 40©75c. NEW YORK METAL MARKET. NEW YORK, Feb. 9.—Copper—Weak; spot. February and March, offered 12%c. Lead—Dull; spot, February and March, offered 4.75 c. Spelter—Dull; spot, February and March, offered 4.52%c. NEW YORK TURPENTINE. NEW YORK. Fei). 9.—Turpentine weakened in trad/* on the market here today, selling ot 91 %c per gallon. TOLEDO SEED PRICES. TOLEDO, Feb. 9 Clover Seed—Cash, $14.65 bid; February. $14.63 bid: March, $14.80; April, $14.00; October SIO.OO bid. Alsike —Cash. $12.20: February, $12.20; March. $12.30. Timothy—Cash, $3.25; February, $3.25; March, $3.32%; May, $3.12’%.

INDIANA DAILY TIMES, THURSDAY, FEBRUARY 9,1922.

Netv York Bond* (By Fletcher American Company.) —Feb. 9. FOREIGN GOVERNMJENT BONDS. Bid Ask Arg. (Unlisted) 5s Sept. 1, ’45 7574 79 Arg. 7s Oct., '23..... 97% 98 Belgian 6s Jail. 1, '25 99*4 99% Belgian 7%s June 1. ’45 107 107% Belgian 8s Feb. 1, ’4l 106 106’** Berne 8s Nov. 1, '45 109 110 Brazil Ss June 1, ’4l 10374 19374 Chile 8s Oct. 1, ’2G 100% 100'% Chile 8s Feb. 1, ’4l 10174 102 Chile 8s Nov. 1, ’4O 100% 10174 Christiania 8s Oct. 1, ’45 108 108% Copenhagen 5%s July 1, ’44.. 87% 88% Danish Mull 8s Feb. 1, ’46....107 107'/4 Denmark Ss Oct. 15, ’45 108% 109 •Canadian 5%s Dec. 1, '22.... 95 96% ♦Canadian 5%s Nov. 1, ’23.... 94% 95'% ♦Canadian 5%s Nov. 1, '24.... 94% 05% ♦Canadian 5s Dec. 1, ’25 93% 94% Canadian 5s Apr. 1, ’26 97% 9<% Canadian 5%s Dec. 1, '27 96 % 97% Canadian 5%s A'ug. 1, ’29.... 98 % 99 Canadian 5s Apr. 1, ’3l 96 96% ♦Canadian 5s Oct. 1, ’3l 93*4 94% Canadian 5%s Nov. 1, ’33 97% 98% ♦Canadian s'/4s Nov. 1. ’34.... 94% 96 Canadian 5s Mch. 1, ’37 95% 98% ♦Canadian 5%s Dec. 1, ’37.... 99% 100% ♦French (vict.) 5s Opt., ’31..,. 62% 64 ♦French 4s Opt., ’43., 50 51 French 7%s June '41.. 96 98*4 French 8s Sept. 15, ’45.. 70174 101% ♦ltalian (War) 5s 36% 38 Jap (Ist) 474s Feb. 15, ’25.. '7% 87% Jap (2d) 474s July 10, ’25.... 86% 87 .Tap 4s Jan. 1, ’31... 73% 74 Mexico 5s Jan., ’45 56 57 Norway 8s Oct. 1. ’4O 10974 110 Queensland 7s Oct. 1, ’41.... 106% 10774 Rio de Janeiro 8s Oct.. ’40.... 100 1 101 Sao Paulo 8s Jan. 1, ’56 10174 102 Swedish 6s June 15. ’39 96% 97 Swiss 5%s Aug. 1. ’29 97% 97% Swiss 8s July 1, ’4O 114 116 U. K. 5%s Nov. 1, ’22 103 103*4 U. Iv. 5 74s Aug. 1. ’29 103% 104 U. K. 574s Feb. 1, ’37 08% 99 Uruguay Ss Aug. 1, ’4O 1037* 104% Zurich 8s Oct. 15, ’45 108 108% Bergen 8s 105*4 1067;, Argentine 4s A. & 0 54 55 Argentine 4s J. & J •>•"% '>4% Dutch 0s Ml 94 Ontario 6a ’43 104% 10o' Seine 7s 90'/* 90*5 ♦lnternal loans. CORPORATION BONDS.

Bid. Ask Allied Packers 6s 69 70 Alum. Cos. of Am. 7s. Nov. '25 101% 101% Am. Cotton Oil 6s. Sept. 2, '24 92% 93*4 Amer. Tel. 6s, Oct. '22 100% 100% Amer. Tel. 6s, Feb. '24 100% 10074 Am. Tel. .V Tel. os. ’25 110% 111% Amor. Thread 6*. Dec. '28... 100% 101 Amer. Tob. 7s, Nov. '22 101% 10174 Amer. Tob. 7s, Nov. ’23 10274 102% Anaconda 6s, Jan. ’29 98% 99 Anaconda 7r. Jan. ’29 101% 1027* Anglo-Am. Oil 7%5. Apr. ”25.105% 103% Armour 7s. July 15, ’3O 102% 102% Atchison Gen. 4r 87% 88*4 Atlantic Ref. 6>4s, Mch. '31.104% 105 Bell Tel. of Can. 7s, Apr. ’25.100% 101% Bell of Pa. 7s 108% 109 Beth. Steel 7s. July 15, '23.100% 10174 Can. Nor. 6%* 10974 HO Can. Nor. 7s 109% 110% Can. Pacific sis, Mch. 2, ’24... 100% 101 Can. Pac. Deb. 4s 7774 78% Cent. Arg. Ry. os, Feb. '27. 90% 90% C. IF. Q. Gen. 4s $674 87% C. B. Q. in. 3'4s 7974 79% C. B. Q. Neb. 4s 957* 95% C B. Q. Jt. 674* 106% 106% Chi A N. W. 6'4s 105% -067* Chi. & N. W. 7s 10674 JOT Col. Graph $s 33 34 Con. '-'as 7s, Dec. '22 I''l7i 101 *4 Copper Exp. Bs. Feb. I*s, '23.102 102% Copper Exp. Bs, Feb. 15, '21.102% 103 Copper Exp. Bs. Feb. 15, *25.103% 104 Cub. Am. Sugar 8s 10374 I'M'4 Cudahy Ts, July 15. '23 100% I'M /Diamond Match 7%s 102% 10374 Du Pont 7%b 105% 161 Fed ss, ’4l 101% 1027* Fed. Sugar 6s, Nov. '24 98% SO'* Fisk Tire 8s 101% 101% G. Q. 574s 96% 97 <) r*s ...* 90% 97 Galena 7s. 101% !“■-% Goodrich 7s. Apr. -.1 97% 97V Goodyear Ist Bs. '41.. 112% 112% Goodyear Deb. nj, '3l 97% 98% Great Northern 7s 107% 108 Grand Trunk 6s 102 102% Grand Trunk 674* 103 1*7374 Grand Trunk 7 110% 11"% Gulf Oil 6s, July, *23 100% 100% Gulf Oil 7s. Feb. '33 10(l 103'* Heinz 7s. Dee. '3O 104 I*H% Hocking Val. 'is, Mch. '24... 98% 98% Humble Oil 7s. Mch. 15. '23. ..100% 100% 111. Central Ref. 4a. '56 7s 7874 Int. R. T. Bs. Sept. ’22 81% 82% Inter. Met. 4%s 17 1$ Interboro 5* 63% 64 K. C. Pr. * Lt. Ss 10.7% 10i% K C. Term 6s, Nov. 15, '23...100 100% Ken a. Copper 7s, Feb. ’30... 102% 102% Kelly-Spring field 8s 103% 103% L & N. 7s. •30 107 10774 Ia el <*de Gas 7s. Jan. '29 91% 95% Libby-McNeil 7s, Mav, ’31.. 99% 99% Nth. Bell 107% ios Nat'l (’lank A. Suit 8s 97% 98% Nat l Leather Ss. Nov. 15, ’25 ',75% 96% Mex. Pet. Ss 100 100% Morris 7%s 102% 103% M. ic 5.8.. M. 674s 101% 102 N. Y. Central 7s. 539 .10.3% 108% N. Y. Tel. Ref. 6s, '4l 102% 103 V Y. Edison o%s, ’4l 105% 106% Nor. Pac. P. L. 4s K4',j 85 Nor. Pac. G. L. 3s 60% 61 Nor. Pac. Cs 106% 107% Packard 8s 91*4 100 Pan. Am. Pet. 7s 95% 9674 Penn. o%s 106 10674 Penn. 7s ......106 106% Philippine 5%5, '4l 104 105 Procter Ac C. 7s. Mch. '22 l"o 10074 Procter & G. 7s, Mch. '23.. .101% 101% R. J. Reynolds Oh, Aug. ’22.100% 101 St L. & S.F. P. L. 4s 68*4 69 St.l.. A S.F. A-lj. Cs 757* 75% St P. 1". D. s '4s, Doc. 15 '23 99% I<* Seaboard Con. 6s 41*4 4*5 Scars Roebuck 7s, Oct. 15, '22 90% 100% Sears Roebuck 7s. Oct. 15, '23 98% 99% Sinclair 7745, Mav 15. ’25... 99% 100 Solvav A Pie Ss, Oct. '27 10274 10374 Southern Rv. Cs, Meb., ’22... 99% 100% Sou. Rv. 674s 94% 95 S. W. Bell Tel. 7s. Apr. ’25...101% 101% Stand. Oil (Cal.) 7s, Jan. ’31.105% 100 S. Oil (N. Y.) 7s. Jan. '25-’3t.104 109 S. Oil <N. Y.l o%s, May, '33.106% 106% Steel <£. Tube 7s :... 95% 9874 Swift 7s. Oct. 15. ’25 100% 101% Swift 7s, Aug. 15, 531 102 102% Texas Cos. 7s. Mch. 1, '23 103'*' 103% Tidewater Oil 6%s UH% 1027* Union Tank Car 7s 102% 10.374 U. S. KubboF 7%a 10474 10434 Utah Sec. 6s. Sept. 15, ’22 98% 99% Vacuum Oil 7s 10774 107'* Va. Car. Chem. 7%s 92% 9274 Western El. 7s. Apr. '25 105% 105% Western Union 6%s 107% 108 Westinghouse 7s, May, ’31....106 10674 Winchester 7 74s 97% 97% Big Four 6s 97% 97*% Wilson 7%st 91% 95%

Local Curb Market (By Newton Todd.) Feb. 9. Am. Hominey com 14 22 Central and Coast. Oil 1 Choate OH Corp % 1% Columtia hire Ins. C 0.... .. C 7Vi Comet Auto % 2 Itayton Kubber Utts 45 55 Lictograph I’rod. pfd 31. 42 It. W. Griffith G'V. 7% Elgin Motor Car l(£ 2% Fed Fin. Cos. pfd 77 81 Fed. Fin. Cos. corn 125 135 Gt. Sou. Trod. & Itef 5 5% Goodyear T. & K. com 10 12 Goodyear T. & It. pfd 25 28 Ind. Kural Credits 50 00 Metro. 5-50 c Stores com 6V; 10 Merto. 5-50 c Stores pfd 1!) “ 20 Nat. Underwriting 2% 4 Kauch & Lang Units 22 31 Stevens Duryea Units 21 28 U. S. Auto. Units 50 00 C. S. Mtg. Cos. Units 150 104 BANK STOCKS. Commercial Nat. Bank 71 81 Cent. Nat. Hank 100 116 Ind. Trust Cos 175 190 ind. Nat. Bank 260 216 Mer. Nat Bank 280 Security Trust Cos 130 State Sav. & Trust 91 % 96 Union Trust Cos 300 ... Wash. Bank & Trust C 0... 150 ... INDIANAPOLIS PRODUCE. Eggs—Loss off 32@34c. Butter—Packing stock, 15@17e. Poultry—Fowls, 16@ 23c; springs, 20@23c; cocks, ll@12c; stags, 13@14c; capons, 7 lbs. and up, 30c; capons, under 7 lbs. 2Go: cnpon slips, 7 lbs. and up 30e; capon slips, under 7 lbs., 26c; young hen turks, 8 lbs. and up 35@ 40c young tom turks, 12 lbs. and up 35(11 -10 c old tom turks, 30(3.33c; cull thin turkeys not wanted ; ducks, 4 lbs. and up, l(!@19c; geese, 10 lhs. and up, 14; squabs, 11 llis. dozen, $5; young guineas, 2-lb. size per doz., $7<g,7.50; old guineas, per doz.. $3. Butter—Local dealers are paying 38@ 39s per lb. for butter delivered in Indianapolis. Butter Fat—Local dealers are paying 35c per lb. for butter fat delivered in Indianapolis.

SWINE PRICES SHOW WEAKNESS Cattle Values Are Generally Steady—Veals Strong. RANGE OF HOG PRICES. Good Good Good Feb. Mixed. Heavy. Light. 1. $9.15 0 9.35 SS.9O@ 9.15 $9,350 9.50 2. 8.25@ 9.40 9.000 9.15 9.400 9.50 3. 9.400 9.65 9.160 9.25 9.65© 9.75 4. 9.350 9.65 9.150 9.20 9.650 9.75 6. 9.600 9.85 9.250 9.50 9.95010.00 7. 9.75® 9.90 9.500 9.75 9.95®10.00 8. 9.90010.15 9.600 9.85 10.15010.25 9. 9.80010.00 9.500 9.75 10.10010.25 Swine prices were irregular in trade on the local live stock exchange today, with receipts close to 5,500, the shippers displaying fair demands for the lights and but little demands for the heavier grades and packers indisposed to buy* unless at lower prices. Values during the early forenoon hours of trade were weak to 10 cents lower on lights and 10 to 25 cents lower on mixed and mediums, while there were but few sales of heavy swine. Bids on this grade, however, were around 25 to 35 cents lower in instances, but commission men were reluctant in selling at the lower prices and were holding about* for values that were steady with yesterday's strong time. A heavy hold-over for the market of the following day was anticipated. Trade in cattle was fairly active, practically all of the packers displaying fair demands. Receipts ran close to 1,000 for the day and a fair clearance was anticipated. There were but few stale cattle in the pens from the market of the previous day. Prices ruled steady generally. There were a few strong spots in the steer market, as there were a few weak places in the bull market. Cows and heifers, as were canners and cutters, were in fair demand at generally steady prices. 7‘eal prices were generally steady, considering the quality of stuff that was offered. Choice veals, of which there were but few on the market, brought sl3, while good veals sold at [email protected] generally. Receipts for the day ran close to 400. With 150 sheep and laml s on the market, ity fair and the demand good, prices ruled about steady. HOGS. 160 to 180 lbs. average $10.10(310.25 Over 300 lbs 9.50<0 9.60 150 to 300 lbs 9.60§810.10 Sows 7,00(3 B.‘X) Stags 6.50(3 7.50 Best pigs, under 140 lbs IO.OO® 10.10 Bulk of sales [email protected] Top 10.25 —Cattle— Prime corn fed steers, 1,200 to 1,800 lbs. 0.75® 7.75 Good to choice steers. 1,209 to 1,300 lbs 0.25® 6.75 Good to choice steers, 1,100 to 1,200 lbs 6.00® 6.25 Good to choice steers, 1.000 to 1.100 lbs 5.50® 6.00 Common to medium steers, SOO to 1,000 lbs 5.25® 5.50 —Cows and Heifers — Good to choice heifers 6.50© 7.50 ! Medium heifers 5.25® 6.25 ■ Common to medium heifers .. 4.50® 5.50 Good to choice cows 3 50® 5 75 Fair to medium cows 2.25© 3.50 Cutters 2 50© 4.23 Canners 2.75® 2.u0 —Bulls— Good to choice butcher bulls 4.25® 4.50 Bologna bulls 3.00® 3 50 I Light bologna bulls 3..0@ H'iji I Light to common bulls 2.00® ‘—At —Calves—- ! Choice veal [email protected] Good veals 10.00® 11.00 Medium veals 9 00® 10.00 Lightweight veals '>69® Common to heavyweight veals 5../J© 6.00 —Stockers and Feeders— Good to -hoice steers under SOO ibs 4.75® 5.50 Medium cows 2*so® 1.00 Gocd cows 3.75® 1.%) Good heifers 5.00® Medium to good heifers 4.00® 4.i5 Milkers [email protected] —Sheep and Lambs— Ewe* 1-0® 5.00 Bucks 2.50® 3 50 Good to choice lambs 11.00® 13.30 Seconds *..io@ 0.00 Buck lambs 7.00® 8.00 Cull* 3*9o® o*9o l Other Livestock CHICAGO, Feb. 9 Hugs Receipts. 39,000; market, steady to strung; bulk <>! sales, $9.23410.75; top, $10.05; heavies, $0.254/0.45; mediums. $9,354(9.90; lights, $9,754/10.05; light lights. $9.754/10.95; heavy packing sows, smooth. $*[email protected]; packing sows, rough, $84'8.40; pigs. $941 10. Cattle—Receipts, active and strong to 15 cents higher. Beef steers —Choice and prime, [email protected]; medium and good. $7.2341.9.10: good and choice. $8.10419.50; common and medium. $6(1(8.10, Butcher rattle lleif.-s, * 1354/7.75; cows. $4.10*0 6.25; bulls, $3.65*65.75. Canners and e.lttors—Coivs and heifers. $2.90(04.10; can ner steers, $3,504*4.35: vc/ii calves, light and hant!v weight, $7.25©!10.7r>; feeder steers, $5,154(7: Stocker Steers. $1,504/ 6.83; stocker cows and heifers, $3.104/5. Sheep nnd lambs ■ Receipts. 10.000: good and choice lambs, $12,754/14.73; cull Hll*i common lambs. $0,754.' 12.50: yearling wet hers. $lO4/13.25; ewes. $5,254/8.25; cull and common ewes, $2.30; feeder lambs. sll 254/13.23. CINCINNATI, Feb o.—Tlogs—Receipts. 4.0181; market steady: heavies. $9.25© 9 75; mixed, $10; mediums, slo® 10.23; lights and pigs. $10.23; roughs, $7.75; stags, $5. Cattle—Receipts, 650; market steady to 25c lower; calves, sl2. Sheep and lambs—Receipts, 200; market strong; owes, $1477; choice lambs, $13.00 @l4; seconds, $9.504(10; culls, ss@7. CLEVELAND, Feb. 0 Hogs—Receipts, 3,000; market 10c to 15c lower; yorkers, $1050; mixed. $1')[email protected]; mediums, $10.25: pigs. $10.50; roughs, $8; Stags, s4l. Cattle—Receipts, 200; market slow and steady. Sheep and lambs -Receipts, 800; market steady; top, $14.30. Calves —Receipts, 200; market steady; top, sl4. EAST ST. LOUIS. Feb. o.—Hogs—Receipts. 12,000; market. 10. to 15 rents higher; mixed and butchers, $0.85© 10; good heavies, $9,504(9,75; roughs. $7,504/ 825; lights, slo© 10.10; pigs, $0,234/10; hulk of sales, $0,904/10. Cattle—Receipts 2.500; market, steady; native beef steers, s7© 8; yearling steers and heifers. $74/8.50; cows. $3,504/0; Stockers and feeders, $5.354/,tVls ; calves. $37)041111.25; canners and cutters, $2,254/3.25. Sheep and lambs- Receipts. 050; market, steady; mutton ewes, $64/7; lambs, $11.7.>@14, canners nml choppers. $24/ 4. EAST BUFFALO, Fell. 9. lings—Receipts, 1,000; market, firm; yorkers, 114;. 11.10; pigs. sll4/11.15; mixed, $10,754/11 ; neavies. $10,254/10.50; roughs. SB4/9; stags, $44(5. Cattle—Receipts, 100: market. steady; shipping steers, [email protected]; butcher grades, $74/8; cows, $25; bulls, $34/5; feeders. $54/6; milk cows and springers. $254/ 120. Calves Receipts, lot); market, active and higher; cull to choice, $54/14. Sheep and lambs—Receipts. 2.200; market, slow; choice lambs, $144(14.60; cull to fair, SB4/13.75; yearlings, sß©] 12.75; sheep, $34/9. PITTSBURGH, Feb. 9. Hogs—Receipts. t.tkH); market steady: prime heavies, $10; mediums, $10.50®T0.7K); heavy vorkers, $10.50©’10.00; light yorkers, $10.50 ©10.60; pigs. $10.25©'10.40; roughs. $74(8; stags. $14(5. Cattle- Receipts, 100; market steady; choice, [email protected]; prime, s7.7s©>S: good, $74/7.50; tidy butchers. $0 50487.50; fair, $5.504j;0.23; common; $4.50 4(5.25; common to good fat bulls. _s3@ 5.50; common to good fat cows, [email protected]; heifers, $4.50(06.25; fresh cows and springers, $404(80; veal calves, sl3; heavy and thin calves, $G©9. Sheep and lambs —Receipts. 1.0O0: market steady; prime wethers, $8.254/8.50; good mixed, $7,504/8: fair mixed, s6©7: culls and common, $2.50 @4; choice lambs, $14.50. CHICAGO PRODUCE. CHICAGO, Feb. 9.—Butter—Receipts, 5,600 nibs; creamery extras. 37'jc; firsts, 31@36%c; packing stock, 15© 17c. Eggs— Receipts, 8,035 cases; current receipts, 36©37c; ordinary firsts, 33©.34e; firsts, 377i©'38c; checks, 20©'30c; dirties, 30©] 32c Live poultry—Turkeys, 35e: chickens, 23 %c; springs, 26c; roosters, 18c; geese, 1,8 c”; ducks, 28c. Cheese—Twitis, new, 19%@!20e; Daisies, 2()%c@2le; Young Americas, 2lc; Longhorns, 21c; bricks, 15%c. Potatoes —Receipts, 41 cars; Wisconsin Roßund Whites, $1.70© 1.90 per 150-lb. bag; Minnesotas, [email protected]; Michigan Round Whites, $2.05; Colorado Brown Beauties, [email protected]. ■ I WHOLESALE BEEF PRICES. The following are today's wholesale prices for beef cuts as sold on the Indianapolis markets of Swift & Cos.: Ribs —No. 2,18 e; No. 3,14 e. Loins—No. 2, 20c: No. 3.15 c. Rounds—No. 2,14 c; No. 3,12 c. Chucks —No. 2,10 c; No. 3,9 c. Plates—No. 2,8 c; No. 3,7 c.

GRAIN VALUES SUSTAIN LOSSES Declines Come in Face of Unfavorable Crop Reports. CHICAGO, Feb. 9 Grain prices on the Chicago Board of Trade were lower today as a reaction from yesterday's sharp advances. The decline surprised the trade and came in face of unfavorable crop conditions. Provisions were irregular. May wheat opened off %c at $1.30% and closed off Ic. July wheat opened up %c at $1,167*4 and closed off %c. May corn opened off %c at 58%c and eloßed off %c. July corn opened off %c at 61%c and closed off 7kc. May oats opened at 40%c, up %c, closing off %c. July oats opened up %c at 42%c and closed off %c. (By Thomson & McKinnon) —Feb. 9 Wheat—Argentine markets have recovered a portion of yesterday's decline and. English markets have shown great strength. The immediate situation in the English markets is of considerable scarcity, stocks in the principal markets being almost at the poitn of exhaustion. It is said that 'millers, there, are becoming anxious, this being so, we may expert a still further display of strength from that course. Russia is said to have been u heavy buyer of Argentine wheat and it is understood that purchases by Germany for February and March shipment have been on a very large scale. We may, therefore, believe that there will be no weakness in that section. Chicago reports a little improvement in the Hour trade, otherwise the milling situation is not brisk. Kansas City stocks of wheat are large and the movement from the interior does not corroborate the many claims of a serious outlook for the new crop. However, Just os long as the western portion of the north wetsern wheat belt fails to receive moisture there will be many claims of a doleful nature and warranted apprehension as to the outcome. It seems to us taht the combined influence of expected strength in foreign markets and unfavorable conditions in the Southwest should place the advantage with the buyer of wheat on all recessions. Corn and Oats—There is a little export business in corn at all times, but it is not of sufficient volume to be an influence in prices, or to affect the cash corn market. Cash houses were seen as sellers of the futures, although not in a large way. The market is again neglected and inclined to take its color from wheat. We are, by no means, inclined to suggest the anticipation of lower prices. The seaboard speaks of a small amount of export business in oats, but the amount reported is insignificant. In the Southwest, where soil moisture permits spring work, seeding has commenced. This market, like corn, is in position to respond to any change of the routine news, but just now is neglected. Provisions —Sentiment does not favor (lie advance in hogs, but the shipping demand is insistent, thereby keeping the market strong. Some foreign trade is reported in lard. The entire market wag dull, but displays firmness.

CHICAGO GRAIN TABLE. —Feb. 9 1 WHEAT- Open. High. low. Close. May... 1.30% 1.30% 1.29% 1.29% July.... 1.16% 1.187-, 1.15% 1.15% CORN— Mav 58% .59 ,5S .58% x July "1% .61 % .60% .00% OATS— May.... .40% .40% .40% .40% July 41% .42% .41% .41% I’ORK - ♦Mav 18.75 LAUD— Mav 10.05 1b.67 10.02 10.65 July... 10.55 10.90 10.85 10.85 RIBS— Mav.... 9.97 10.00 9.97 10.02 •July 10.15 I RYE—- ' May.... .95% ! July 86 .89% .86 .85 J •Nominal. CHICAGO CASH GRAIN. CHICAGO, Feb. 9.—Wheat-No. 3 red, $1.28: No 3 red. $1,234(1.23%; No. 2 hard winter. $ 1.25%© 1.26: No. 3 hard winter, $1 244/1.24%; No. 2 northern sprtug. dark, $1.58: No. 4 hard yellow.? 1.18%. Corn—No. 2 mixivl, 53©53’*c; No. 2 white 534(6374c; No. 2 yellow, 53@53'4" 1 No 8 mixed, 51%©52c; No. 3 white. 51%©52c; No. 5 yellow, 51%@52740: No. 4 mixed. 49 1 -..4/50%c; No. 4 white. No. 3 vellow, 51 %(k *2%c; No. 4 mixed, 4074© No. 4 white. 49%©5<>%e; No. 4 vellow. 49%© 51c. Oats No. 2 white. '•S>*©.'l9'.*<-; No 3 white, 35' t @37%c; No. 4 white, 31@34%c. TOLEDO GRAIN FRICKS. TOLEDO, Feb. 9. Wheat -Cash. $1 37 ©l.-.6: Mav. $1.41%; July, sl.lß. CornGash, 574158". Oats —Cash, 40% @ 72%e. Rye Cash, 94c. Barley—Cash, 67c. PRIMARY MARKETS. (By Thomson & McKinnon) —Feb. 9. . —Receipts— Wheat Corn Oats St Joseph .. 22,000 24,000 6,000 Chicago 62,000 1.144.000 197.000 Milwaukee .. 105.000 42.000 Minneapolis . 334.000 74,00" .>(*.060 Duluth 22.000 61,000 37.000 St. Louis 50,07" 156.000 11N.000 Toledo 8.000 26,000 8,000 l>Pt r „|f 8.000 32.000 6.000 Kansas City . 290,000 36.000 24.000 Ueoria 2 IMH > 149.000 10.000 Omaha 70,000 119.07 X) 34.000 Indianapolis 118,000 22,000 Totals 874,000 2,044.0710 560,000 Year ago... 681,000 679,07)0 355,000 —Shipments— Wheat Corn Oats St Joseph .. 16.000 lO.tHio Chicago 62.07 H) 1.347,7)7)0 247, I'd Milwaukee .. 1.000 110.07)0 37,007, Minneapolis . 103.07)0 42,000 111.000 St. Louis .... 50,000 61.07)0 63,000 Toledo ...... 6,000 6.000 ...... Detroit 10,000 Kansas City . 161,000 36,07)0 14.000 Peoria 5,000 169.000 31,000 Omaha 55,000 157,000 36.7)00 Indianapolis 30.007) 22,000 Totals 449.000 1,987.000 551.7)00 Y'ear ago... 559,000 349,000 355,000 —Clearances - Wheat Corn Oats New York .. 371,007) Boston 9.07)0 Philadelphia 55.000 75,000 Baltimore 417,000 New Orleans 342.07)0 Totals 91 .(KM) 843.000 Year ago... 376,000 227,000 INDIANAPOLIS CASH GRAIN. —Feb. 9 Bids for car lots of grain nnd hay at the call of the Indianapolis Board of Trade were: Wheat —Firm: No. 2 red, $1.34@1 371. Corn—Easier; No. 3 white, 52 Vi 4*'s3c ; No. 4 white, 51 %© 52e; No. 3 yellow, 52%©,52e; No. 3 mixed, 524'53c; No. 4 mixed, 51@52e. Oats —Steady; No. 2 white, 39%©40e; No. 3 white, 37©37%e. Hay—Weak: No. 1 timothy, [email protected]; No. 2' timothy, $16.50@17; No. 1 light clover mixed, $1([email protected]; No. 1 clover, $18.50 ©; 19.50. *—lnspections Wheat —No. 2 red, 1 car; No. 3 red, 3 cars: No. 4 red, 1 car; total, 5 cars. Corn —No. 2 white, 1 car; No. 3 white. 12 cars; No. 4 white. 13 cars; No. 5 mliite, 7 cars; No. 6 white. 3 cars: sample white, 1 car; No. 3 yellow, 10 cars; No. 4 yellow. 22 cars; No. 5 yellow, 16 ears; No. 6 yellow. 21 ears; No. 3 mixed, 1 ear; No. 5 mixed, 1 ear; No. 6 mixed, 1 ear; total, 109 ears. Oats—No. 2 white, 2 cars; No. 3 white, 8 ears; No. 4 white, 4 ears; No. 2 mixed, 1 car; total, 16 cars. HAY MARKET. The following are the Indianapolis prices for liay by the wagon load, delivered ; „ Hay-Loose timothy, $16.00@17; mixed hay, $15@16; baled hay, sl7@lß. Oats —New, per bushel, 35@38c. Corn—New, per bushel, 45@50c. Corn —Old, per bushel, 45@50c. WAGON WHEAT PRICES. Indianapolis flour mills and elevators today were paying $1.20 per bushel for No. 1 red winter wheat; sl.lß for No. 2 red winter nnd according to test for No. 3 red xvlnter. Oats were quoted at 27c per bushel for No. 3 white or better. PRINCE’S SLAYER ESCAPES. ROME, Feb. 6.—The woman suspected of assassinating Prince Halim I’asha, former Turkish Premier, here has been traced to Albania.

Local Stock Exchange -Feb. 9. STOCKS. Bid. Ask. Ind. Ry & Light com 60 Ind. Ry. & Light pfd 75 I (id. St. Ry 40% 45 T. H. T. & L-. pfd , 60% .... Indpls. & N. W. pfd 60 Indpls. & S. E. pfd 60 T. H. T. & E. com 6 T. H. I. & E. pfd 15 U. T. of Ind. com 1 U. T. of Ind. Ist pfd ... 7 U. T. of Ind. 2d pfd 2 Aovauce-Rumely com 13% ... Adtance-Kumely pfd 30% ... Am. Creosoting pfd 93 ... Am. Central Life 185 ... Belt R. K. com 66 71 Belt R. R. pfd 45% ... Centuty BUlg. Cos. pfd 93 Citizens Gas Cos. 24 22 City Service coin 171 174 City Service pfd 54 56 Dodge Mfg. Cos. pfd 87 Home Brewing 44% ... Ind. Hotel com 75 ... Ind. Hotel pfd 97 Indpls. Nat. Ins. Cos 2 Ind. Title Guarantee C 0.... 45 Indiana Pipe Lines 88 92 Indpls. Atattoir pfd 43 Indpis. Gas 44 ... Indpls. Tel. com 2 ... Indpls. Tel. pfd 90 Mer. Pub. Utl. pfd 48% 53% Nat. Slotor Car Cos 2 4 Pub. Sav. Ins. Cos 4% ... Rauh Fer. pfd 47 Stand. Oil of Indiana 80 87% Sterling Fire Ins. Cos 6% ••• Van Camp Hdw. pfd 90 Van Camp Prod. Ist pfd.... ... 100 Van Camp Prod. 2d pfd 100 Vandalia Coal Cos. com 1 6 Vandalia Coal Cos. pfd 5 10 Wabash Ry. pfd 20 24 Wabash Ry. com 6% 8 BONDS. Broad Ripple 5s 60 Citizens St. Ry. 5s 73 77 Indian Crk Coal & Mine 100 Ind. Coke A Gas 5s 80 Indpls. C. & S. 5s 91 ... Indpls. & Martinsville 05.... 59 Indpls. & Norm 5s 36 41 Indpls. A N. W. 5s 47 ... Indpls. A S. E. 5s 45 Indpls.. Shelby A S. E. 5s 75 Indpls. St. Rv 4s 59 64 T. H. I & E. frs 50 IT. T. of Ind. 6s 43 Citizens Gas Cos. 5s 86 Indpls. Gas Cos 85 Kokomo, M. AW. 5s 84% 8S Ind. Hotel Cos. 2d 5s 95 Indpls. L. A H. 5s 86 91 Indpls. Water Cos. 4%s 80 85 Indpls. Water 5s 92 97 Mer. H. A L. 5s 96 ... New Tel. Long Dtst. 5s 94 New Tel. Ist Cs 95 ... 11.... pi s. T. A T. 5s 76 Sou. Ind. Power os 88% \ " "" ~ Weather The following table shows the state of the weather at 7 a. m., Feb. 9. as observed by U. S. Weather Bureaus; Station Bar. Temp. Weather Indianapolis, Ind... 29.96 37 Cloudy Atlanta. Ga 20.3S 36 Cloudy Amarillo, Tex 29.96 46 Clear Bismarck. N. D.... 30.00 10 Snow Boston. Mass 30.18 26 Cloudy Chicago, 111 29.84 3S Clear Cincinnati, 0 30.06 32 Cloudy Cleveland. 0 30.00 34 Cloudy Denver, Colo 29.84 44 Clear Dodge City. Kas... 30.04 28 Clear Helena, Mont. 29.44 42 Clear Jacksonville, Fla. .. 30.44 46 Clear Kansas (,’ityv Mb.... 29.90 40 Clear Lousville, Ky 30.06 40 Cloudy Little Rock, Ark. 30.06 48 Cloudy Los Angeles. Cal... 30.02 54 Cloudy Mobile. Ala 30.A6 44 Cloudy New Orleans, La. . 30.30 52 Cloudy New York. N. Y ... 30.26 26 Cloudy Norfolk, Va 30.34 30 Cloudy Oklahoma City .... 29.98 44 Clear Omaha. Neb 29.98 22 Clear Philadelphia, Pa. . 30.26 28 Cloudy Pittsburg, Pa 30.12 30 Cloudy Portland. Ore 29.50 36 Cloudy Rapid City, S. D... 29.90 18 Clear Koseburg, Ore 217.52 36 Cloudy San Antonio, Tex.. 30.20 50 Clear San Francisco, Cal. 29 64 50 Cloudy St. Louis, Mo 29.86 40 Clear St Paul. Minn 29>2 22 Clear Tampa. Fla 30.44 44 PtCldy Washington, D. C. 30.26 26 Cloudy WEATHER CONDITIONS. The eastern center of the disturbance which extended Wednesday morning from the north Pacific coast to the middle plains section hits advanced to the western Lakes region, leaving an extensive depression In the far west. The former has oeeasioned light precipitation in the middle Mississippi nnd Ohio valleys, while the latter has caused extensive rainfall west of the Great Divide. Temperatures are higher generally from the Great Lakes southward and eastward, and warmer weather also prevails over much of the western highland region, due to Hie influenre of these two disturbances but the reading* are somewhat lower between over much of the northern plains section. Asa rnle, however, the readings are near or slightly above the seusonal normal in all part* ofthe country except in the South Atlantic States, where they continue below. .1. 11. ARRMIN'GTOX, Meteorologist, Weather Bureau.

In the Cotton Market NEW YORK, Feb. 9. —The cotton market opened firm today at an advance of 6 to 24 points on a favorable showing by the English market, Improved advices from Manchester, a broadening for the spot article in the south, active covering by shorts, particularly from Wall street and southern sources, and moderate buying by the trade. The ndvances were maintained after the start and business was more general than for a number of days. Liverpool was among the early sellers here, while there was also rather heavy selling for profits by some of the older longs. The YVest appeared to be adding to lone linos. New York opening eotton prices: February. [email protected]; March. 17,35 c; May, 17c; July. 16.53 c; October. 15.80 c; Deci >cr. offered 15 88c: January, 15.68 c. The market weakened in the afternoon under heavy realizing sales. The close was barely steady, being unchanged to 10 points lower. —Cotton FuturesOpen. High. Low. Close. January 15.68 15.68 15.61 15.55 March 17.35 17.37 17.01 17.02 May 17.00 17.02 16.68 16.73 July 16 53 16.51 16.29 16.29 October 15.80 15.90 15.72 15.73 December 15.75 15.73 15.65 15.65 LIVERPOOL, Feb. 9.—Spot cotton was In better demand at the opening here today. Prices were steady and sales around 8,000 bales. American middlings fair, 11.74d; good middlings. 10.39d ; fully middlings, 9.99d ; middlings, 9.64 U; low middlings, S.STd; good ordinary. 7.49d; ordinary, 6.74d. Futures were steady during initial trade. Elizabeth Smith’s Funeral Friday Funeral services for Mrs. Elizabeth H. Smith, who died Tuesday at the home of her daughter, Sirs. Joel M. Howard. 24 Smooth Temple avenue, will be held at 2 o’clock Friday afternoon from Englewood Christian Church. Mrs. Smith was the widow of Dr. Alexander C. Smith, a well-known Indianapolis phys/cinn who died two years ago. She was born in Ft. Branch, Nov. 23, 1,853, and moved to Indianapolis immediately after her marriage to Dr. Smith in 1576. She is survived by her daughter. Mrs. Howard ,and three sons, Hiram Butler Smith of Minneapolis, Minn., YValter H. Smith of Los Angles, Cal., and Raymuth N. Smith of Indianapolis. Plan Movie Palace LONDON, Feb. 9 —Several aoeiety loaders have combined to establish near Buckingham Palace a moving picture theater de luxe. It will be equipped most luxuriously and have a special box for the King? The building is a former church.

HOPE OF RELIEF IN TAXATION CHEERS MART Dollar Rails Decline—British and Continentals Are Firm. MONEY IS PLENTIFUL LONDON, Feb. 9. —A cheerful tone prevailed on the stock exchange yesterday and leading quotations generally were harder, due more to the hope of decreased taxation as a result of Lloyd George's speech than to any expansion of business. The gilt-edged market for British bonds strengthened all around and several foreign bond issues improved per oeptibly, notably Mexican, French and German. Movements in home rails were favorable. Dollar rails were weaker, but Continental and other foreign rails were harder. A firmer tendency was shown in the industrial market, but iron, steel and engineerings were spotty in places. The oil market continued to strengthen. Mexiean Eagles were 329-32, Shells 4 7-16, Royal Dutch 35. Africair minings wre neglected, but Americans continued the advance of the last few days. Business in Lombard street continued on a restricted scale, due to a superabundance of credit, which kept down profitable interest rates. Overnight money was down to 1% per cent, day to day money 3 per cent, and fixtures 3% per cent. Bar silver declined again to 34%d and 33©d for spot and forward delivery. —Copyright, 1922, by Public Ledger Company. VAST SUM PAID TO EX-SOLDIERS IN PAST YEAR Assistance Given 1,000,000 Disabled Men at Expense of $489,000,000. WASHINGTON, Feb. 9.—The sum of $489,000,000 was spent in the past year by the United States Government in the care of its former service men, according to an announcement by the Veterans' Bureau. This vast amount was expended on spproximately 1.000.000 veterans who served America during the World War either on foreign or on home soil. Not only did the Government. In Its rehabilitation program, pay its veterans insurance but also placed them in rospitals. universities or trade schools, or furnished them with the opportunity for practical experience in scores of occupations. In addition to the educational facilities, Uncvle Same provided for his wounded ex-service men; he also paid them a “living wage” during the period of rehabilitation. According to Director of Veterans’ Bureau Forbes, the Government in the i last year provided vocational training for j 104.000 veterans, had 598,797 insurance holders on its roll, which incidentally. ! equals the number of beneficiaries of the I largest insurance company in the world; j had 28.000 soldier patients in Government institutions and hospitals and handled over 245.000 claims of ex-service men. WANT DISABLED SATIS FRIED. A “clean-up” campaign, designed t* reach every disabled veteran in the country, who was not satisfied with a disability rating; to reach those whose claims were pending and to establish contact with those disabled veterans who, , although entitled to compensation, had | not made application for it, was one of | the first undertakings of the Veterans’ ; Bureau. More than 85.000 claims were I handled as a result of this campaign, the ; Bureau slates, and less than 3.7)00 of these claims remain pending adjudication, j The first Government-owned vocational j training school was established during i the year at Chillicothe, Ohio, where exI service men are being taught trades and some forms of agriculture. This school, it is explained, is still in the experimental stage, bat if it is proved a success similar schools will be established throughout the country, according to the buteao. MARINERS MAY' BE TRAINED. Plans for the establishment of a nautical school for the training of veterans in the Merchant Marine, for which President Harding has approved tlia allocation of four shipping board vessel* for the training of the men. are being considered. The school, it is said, will in all probability be established in the near future. The double purpose of having training men in a gainful occupation and at the earne time having greatly aided the Merchant Marina wil. have been gained, the bureau points ort. Disabled veterans are being removed from contract hospitals to Governmentowned institutions as fast no the latter become available. The pure .ase of the Methodist Hospital in Memphis. Tenn., has been approved by President Harding and it is expected the deal will be consummated soon. This hospital will provide for the care of a large number of general surgical cases. I

City Plan Board to Hold Election The first annual meeting of the city plan commission will be held, according to law. at the regular meeting, Tuesday nfternoon. Election of a president and secretary will be the principal business. It is expected Edward B. Raub, president and Vice-President Emerson \V. Chaille, will be re-elected. They were elected when the commission was organized last fall. The law fixes the animal in.-eting dale on the first meeting day of February. The commission meets regularly on the second and fourth Tuesdays of the month. WOMEN SEA ENGINEER. DUNDEE. Scotland, Feb. 9.—Miss Victoria Drummond, a god daughter of Queen Victoria, has qualified as an as gineer and hopes to go to sea soon la that capacity. I WILL BUY Federal Finance Common and Preferred, IndTanu Rural Credits Association, State Savings & Trust Company, Home Brewing Cos., Great Southern Producing A Refining, Majestic Tire & Rubber, Merchants Public Utilities pfd. NEWTON TODD 415 Lemcke Bldg.